Palladium One Continues to Intersect Significant Widths at Kaukua South, Drills 47 Meters @ 2.3 g/t Pd_

Toronto, Ontario–(Newsfile Corp. – April 15, 2021) – Drilling continues to return significant PGE grades and widths including 47 meters at 2.3 g/t Palladium equivalent (“Pd_Eq”), (Hole LK21-061) at Kaukua South on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (“Palladium One” or the “Company”) today.

Thus far, 46 holes have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today’s results, 29 have been released, while results for 17 holes are pending. The program’s goal has been to define the mineralization from surface to a depth of only 200 metres over the known 4-kilometer strike length of Kaukua South. In total 9,220 meters have been drilled to date as part of the Phase II program. Drilling is currently in hiatus for the spring thaw and is schedule to resume in mid-May.

Derrick Weyrauch, President and CEO of Palladium One, said, “Drilling at Kaukua South continues to intersect impressive grades and widths, and as evidenced by hole LK21-061 these results also extend to depth. Induced Polarization (IP) surveys along the east and west extensions of Kaukua South have now been completed and we expect preliminary results shortly. The current hiatus in drilling will be used for modelling and target generation on these new extensions”

Highlights

• Drilling continues to demonstrate significant continuity of open pit grades and widths at Kaukua South
• 46.9 meters grading 2.32 g/t Pd_Eq in hole LK21-061
• 52.7 meters grading 1.50 g/t Pd_Eq in hole LK21-059
• 45.4 meters grading 1.58 g/t Pd_Eq in hole LK21-054
• 44.0 meters grading 1.46 g/t Pd_Eq in hole LK21-060
• Kaukua South’s Upper Mineralized Zone delineation could have significant positive implications in a mining scenario by significantly reducing the strip ratio, thereby improving project economics.
• IP surveys on Kaukua South’s western and eastern extensions have been completed.

Kaukua South Infill Drilling

Kaukua South infill drilling continues to demonstrate consistent open pit grades and widths. A total of 29 holes from the Phase II infill drill program on Kaukua South have now been released with intersections such as 47 meters at 2.6 g.t Pd_Eq in hole LK21-045 (see press release March 18, 2021) and 53 meters at 2.1 g/t Pd_Eq*, in hole LK20-028 (see press release January 18, 2021). These 29 holes cover approximately 2 kilometers of the Kaukua South Zone and have returned similar widths and grades to those in the Kaukua NI43-101 Open Pit resource estimate. (Figure 1 and 2).

Kaukua South Upper Mineralized Zone

As the Phase II infill drill program progresses the importance of the Upper Mineralized Zone at Kaukua South is taking shape. Kaukua South consists of two subparallel mineralized zones, the very continuous “Lower Zone” near the base of the Intrusion which is very similar to the Kaukua deposit with high PGE tenors and is the main focus of the current drill program. The “Upper Mineralized Zone” occurs in the hanging wall to the Lower Zone and is characterised by higher Cu-Ni values and lower PGEs (Table 1). The Upper Zone is typically lower grade and more sporadic than the Lower Zone but can exhibit greater widths (Figure 3). It’s position in the hanging wall relative to the Lower Zone is key, its presence has significant positive implications for the open pit potential of Kaukua South as it could reduce the strip ratio and allow an open pit to extend to greater depths than originally contemplated and thereby improve overall project economics.

As such, the Company has revisited and is planning to increase the average drilling depth at Kaukua South in areas with strong Upper Zone mineralization. The revised plan now targets the Lower Zone down to a 300-meter depth compared to the original 200-meter depth target.

IP Survey

The current IP surveys to the west and east of the existing 4-km Kaukua South zone have been completed and preliminary results are anticipated in the coming weeks. The hiatus in the drilling due to the spring thaw will be used to analyse this new data and generate targets to expand the Kaukua South zone. IP has proven to be highly successful at outlining palladium-rich disseminated copper-nickel sulphide mineralization on the LK Project. The discovery of Kaukua South in an overburden covered area with no previous drilling was a direct result of the Company’s 2020 IP survey. The Company believes there is potential to extend the currently Kaukua South IP chargeability anomaly from the currently defined four to over seven kilometres of strike length (Figure 1).

Figure 1. Greater Kaukua area plan map, showing current NI 43-101 Kaukua Deposit conceptual pit outline (dashed yellow), Kaukua South and Murtolampi IP chargeability anomalies, and Palladium One drill hole locations. Holes labels in red form part of this release.

Figure 2. Kaukua South Long section looking north, holes labelled in red form part of this release

Figure 3. Cross Section showing Kaukua South infill holes LK20-027, 028, 045, and 061 looking west.

Table 1: Phase II infill drill results to date on Kaukua South

* Reported widths are “drilled widths” not true widths.
** Orange shaded values previously released (see press release January 18, 2021, March 11, 2021, March 18, 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$15,432 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate. The palladium price used approximates the US$1,156 per ounce for palladium reported by UBS in its February 2021 commodity consensus price forecast report, while the current price of palladium is approximately US$2,600 per ounce.

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.

Comstock Releases Shareholder Letter; Embarks on Transformational Green Shift with Climate Smart Mining and Environmental, Social and Governance (“ESG”) Projects

VIRGINIA CITY, Nev., April 13, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that its executive chairman and chief executive officer issued the following letter to Comstock’s shareholders in advance of the Annual General Shareholders Meeting.

Dear Shareholders:
On behalf of our Board of Directors, employees and partners, we would like to thank all of you for participating in a pivotal, exciting and successful year. We have repositioned our assets by acquiring new technologies, launching new businesses, liquidating non-core and non-performing assets, and eliminating our debt. We have now positioned our existing platform for extraordinary growth and high-impact value creation with clean innovations, climate smart mining, and ESG driven projects.

This transformational “green shift” began years ago and gained traction with our global mercury remediation and lithium-ion battery recycling projects. Those efforts recently culminated in the commissioning of our first commercial Mercury Clean-Up LLC (“MCU”) project in the Philippines, and the acquisition of a controlling stake in LiNiCo Corporation (“LiNiCo”), and its 20,000 ton per year lithium-ion battery recycling and 10,000 ton per year of 99.9% pure cathode production in the Tahoe Reno Industrial (“TRI”) Center located in Storey County, NV.

Each MCU system has the potential to produce more than $12 million in pre-tax operating income per year (depending on site conditions, mineral content and spot price). The LiNiCo facility, at just 33% of its capacity and 60% of applicable commodity prices, has the potential to generate more than $100 million in sales with estimated pre-tax operating income margins exceeding 30%. We’re also actively exploring expansions and acquisitions that support and accelerate LiNiCo’s growth with a hub-and-spoke model.

Comstock has historically focused on the extraction of precious and strategic metals, where the words “precious” and “strategic” were conventionally defined by magnitude of impact and relative scarcity. We now believe that the global clean energy transition, escalating population growth, and accelerating natural resource scarcity is converging into a “perfect storm” of global demand for a broader array of strategic materials, beyond metals, including anything involving carbon, energy, and water – without the corresponding global capacity to sustainably or reliably meet escalating demand. Our strategic focus is consequently expanding to include the extraction and valorization of a portfolio of critical and inevitably scarce materials, with an initial preference for high cash throughput generators that complement our existing competencies and operations. We are evaluating several potential transactions and investment opportunities, the first of which we hope to close this during this quarter.

Our employee incentive compensation is 100% linked to specific performance objectives designed to deliver $500 million in shareholder value and more than $12.00 per share by 2023. Our team is focused on achieving and exceeding those targets because the “perfect storm” of current demand isn’t the only thing on our horizon. A renaissance of green innovation is upon us and the pace is increasing worldwide.

We will be a leader in those efforts, with a focus on the systemic development and commercialization of new technologies and robust new lines-of-businesses, such as MCU and LiNiCo, among others, that have the potential to sustainably contribute to humanity’s rapidly-escalating demand for increasingly scarce natural resources, including the strategic metals and other resources needed to fuel the world-wide quantum surge in, and transition to, clean energy, carbon-neutrality, and natural products.

We are systematically strengthening our organization and positioning for continuous throughput growth. We will scale our MCU footprint, enhancing efficacy and targeting new deployments in qualified geographies. We will build our LiNiCo recycling and battery production business. We will acquire and build accretive technologies, projects, and businesses. We will measure the wealth we create comprehensively, with throughput as our primary financial measure, and by measuring and reporting the positive natural and social impacts of all of our activities. By sustainably delivering more than $500 million in shareholder value, we will have built an innovative, continuously growing, throughput-generating, ESG-based enterprise with diverse lines of businesses that rise above the scarcity challenges.

We are at the dawn of a new era. This tragic pandemic is nearing its end and it taught us how closely we are all connected. Not just to each other and the natural world that sustains us, but to the financial, natural, and social systems that have the power to save us. We will contribute to that end by positively impacting the existing systems, and building and integrating new systems and shareholder value along the way.

We look forward to our next communication and seeing those of you that can attend this year’s AGM, where we plan on showcasing our existing lines of businesses, employees and partners, including the results of our planned near-term transactions. Thank you always for your continued interest and support.

Kindest regards,
Corrado De Gasperis
Executive Chairman and Chief Executive Officer
Comstock Mining Inc.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources, with a focus on high-value, cash-generating, strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Source: Comstock Mining

Sierra Metals Discovers New High-Grade Oxide Zone Located Within the Current Mine Operations Area at the Yauricocha Mine, Peru

Yauricocha Mine, Peru

• The current drilling program along the Yauricocha Fault System demonstrates high-grade oxide mineralization occurring between the Cachi Cachi and Esperanza Zones, which continues and remains open at depth and above

Drill hole highlights include:

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) today announces that drilling results demonstrating high-grade oxide polymetallic ore has been confirmed in an area between the Cachi Cachi and Esperanza zones along the Yauricocha Fault and within current operations at the Yauricocha Mine.

To date, 21 holes have been completed from an exploration adit at the 1070 level of the Yauricocha Mine in the Yauricocha Fault System area. These holes have intercepted oxide mineralization containing high-grade gold, silver, copper, zinc, and lead zones. These results demonstrate the potential for high-grade mineralization within the reported area and, more importantly, indicate the continued existence of extensive mineralization. These results come as part of an ongoing brownfield drilling program that is testing priority targets at the Yauricocha Mine, located 150 kilometers east-southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru.

Luis Marchese, CEO of Sierra Metals, stated: “The results announced today results represent the existence of further potential at a strategically important zone of the Yauricocha Mine with the confirmation of high-grade oxide mineralization at depth in the area next to existing operations. The Company made a strong commitment to brownfield exploration as part of its growth plan. Results such as the ones released today continue to demonstrate that this investment is paying off with the potential to grow our mineral resources further and add high-value tonnage. This ore will be processed in already existing oxide treatment plant facilities.”

Alonso Lujan, Vice President, Exploration of Sierra Metals, commented: “The results reported are from the area between the Esperanza and Cachi Cachi Zones. They demonstrate significant potential for mineralized resources laterally, to depth, and above in this area located along the Yauricocha Fault System, which was previously not explored. He added, “Following the success of this drilling program, further exploration will be conducted within the area to define its mineralized potential better.”

Mr. Lujan added, “In 2020, the Company commenced construction on a tunnel to connect the Esperanza and the Cachi Cachi orebodies, located 820 meters apart. The tunnel allowed exploration along this area adjacent to the trend of the mineralized bodies at the Yauricocha mine. This zone is a top priority exploration target for the Company due to its favorable geologic setting and strong geophysical anomalies from our Titan 24 Survey. Today’s announcement corresponds to the drilling campaigns of the first two exploration stations along this tunnel. Further drilling stations are planned in the coming months once the tunnel reaches the Cachi Cachi orebodies.”

A map of the Yauricocha Mine 1070 level demonstrating the area of drilling between the Cachi Cachi and Esperanza Zones is shown in Figure 1.

Table 1 –Drill Hole Assay Results from the Program

*Copper equivalent was calculated using the following consensus metal prices in USD: $25.58/oz Ag, $3.55/lb Cu, $1.18/lb Zn, $0.92/lb Pb, $1,897/oz Au.
Source CIBC Global Mining Group (April 2021)

Figure 1 – Plan View of Yauricocha Mine and between the Cachi Cachi and Esperanza Zones

Quality Assurance

All samples were dried, crushed, pulverized, and analyzed by the Chumpe Laboratory at the Yauricocha Mine.

The quality assurance program for sampling and analysis is performed by the quality control and assurance (QA-QC) employed by Sierra Metals has been described in detail in the NI-43-101 report for Yauricocha dated June 30, 2020, and prepared by SRK Consulting in Vancouver – Canada. This report is available for review. Standards, certified blanks are inserted into the sample stream, as well as duplicate samples which are then sent to the Chumpe lab to verify the precision and accuracy of published results. Additionally, they are sent to the laboratory of ALS Peru S.A. (Chemex) in Lima according to internal quality control procedures. As a standard process, 10% of the samples were sent to the Chumpe laboratory for cross-validation with a certified external laboratory for analysis.

Quality Control

Américo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning, is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Augusto Chung, FAusIMM CP (Metallurgist) and Vice President of Metallurgy and Projects is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc |
LinkedIn: Sierra Metals Inc | Instagram: sierrametals

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210413005503/en/

Contacts

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
(416) 366 7777
Email: info@sierrametals.com

J.Alonso Lujan
Vice President, Exploration Sierra Metals Inc.
(51) 630 3100
(52) 614 426 0211

Luis Marchese
President & CEO
Sierra Metals Inc.
(416) 366 7777

Sierra Metals Discovers New High-Grade Oxide Zone Located Within the Current Mine Operations Area at the Yauricocha Mine, Peru

Yauricocha Mine, Peru

• The current drilling program along the Yauricocha Fault System demonstrates high-grade oxide mineralization occurring between the Cachi Cachi and Esperanza Zones, which continues and remains open at depth and above

Drill hole highlights include:

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) today announces that drilling results demonstrating high-grade oxide polymetallic ore has been confirmed in an area between the Cachi Cachi and Esperanza zones along the Yauricocha Fault and within current operations at the Yauricocha Mine.

To date, 21 holes have been completed from an exploration adit at the 1070 level of the Yauricocha Mine in the Yauricocha Fault System area. These holes have intercepted oxide mineralization containing high-grade gold, silver, copper, zinc, and lead zones. These results demonstrate the potential for high-grade mineralization within the reported area and, more importantly, indicate the continued existence of extensive mineralization. These results come as part of an ongoing brownfield drilling program that is testing priority targets at the Yauricocha Mine, located 150 kilometers east-southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru.

Luis Marchese, CEO of Sierra Metals, stated: “The results announced today results represent the existence of further potential at a strategically important zone of the Yauricocha Mine with the confirmation of high-grade oxide mineralization at depth in the area next to existing operations. The Company made a strong commitment to brownfield exploration as part of its growth plan. Results such as the ones released today continue to demonstrate that this investment is paying off with the potential to grow our mineral resources further and add high-value tonnage. This ore will be processed in already existing oxide treatment plant facilities.”

Alonso Lujan, Vice President, Exploration of Sierra Metals, commented: “The results reported are from the area between the Esperanza and Cachi Cachi Zones. They demonstrate significant potential for mineralized resources laterally, to depth, and above in this area located along the Yauricocha Fault System, which was previously not explored. He added, “Following the success of this drilling program, further exploration will be conducted within the area to define its mineralized potential better.”

Mr. Lujan added, “In 2020, the Company commenced construction on a tunnel to connect the Esperanza and the Cachi Cachi orebodies, located 820 meters apart. The tunnel allowed exploration along this area adjacent to the trend of the mineralized bodies at the Yauricocha mine. This zone is a top priority exploration target for the Company due to its favorable geologic setting and strong geophysical anomalies from our Titan 24 Survey. Today’s announcement corresponds to the drilling campaigns of the first two exploration stations along this tunnel. Further drilling stations are planned in the coming months once the tunnel reaches the Cachi Cachi orebodies.”

A map of the Yauricocha Mine 1070 level demonstrating the area of drilling between the Cachi Cachi and Esperanza Zones is shown in Figure 1.

Table 1 –Drill Hole Assay Results from the Program

*Copper equivalent was calculated using the following consensus metal prices in USD: $25.58/oz Ag, $3.55/lb Cu, $1.18/lb Zn, $0.92/lb Pb, $1,897/oz Au.
Source CIBC Global Mining Group (April 2021)

Figure 1 – Plan View of Yauricocha Mine and between the Cachi Cachi and Esperanza Zones

Quality Assurance

All samples were dried, crushed, pulverized, and analyzed by the Chumpe Laboratory at the Yauricocha Mine.

The quality assurance program for sampling and analysis is performed by the quality control and assurance (QA-QC) employed by Sierra Metals has been described in detail in the NI-43-101 report for Yauricocha dated June 30, 2020, and prepared by SRK Consulting in Vancouver – Canada. This report is available for review. Standards, certified blanks are inserted into the sample stream, as well as duplicate samples which are then sent to the Chumpe lab to verify the precision and accuracy of published results. Additionally, they are sent to the laboratory of ALS Peru S.A. (Chemex) in Lima according to internal quality control procedures. As a standard process, 10% of the samples were sent to the Chumpe laboratory for cross-validation with a certified external laboratory for analysis.

Quality Control

Américo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning, is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Augusto Chung, FAusIMM CP (Metallurgist) and Vice President of Metallurgy and Projects is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc |
LinkedIn: Sierra Metals Inc | Instagram: sierrametals

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210413005503/en/

Contacts

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
(416) 366 7777
Email: info@sierrametals.com

J.Alonso Lujan
Vice President, Exploration Sierra Metals Inc.
(51) 630 3100
(52) 614 426 0211

Luis Marchese
President & CEO
Sierra Metals Inc.
(416) 366 7777

Comstock Releases Shareholder Letter; Embarks on Transformational Green Shift with Climate Smart Mining and Environmental, Social and Governance (“ESG”) Projects

VIRGINIA CITY, Nev., April 13, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that its executive chairman and chief executive officer issued the following letter to Comstock’s shareholders in advance of the Annual General Shareholders Meeting.

Dear Shareholders:
On behalf of our Board of Directors, employees and partners, we would like to thank all of you for participating in a pivotal, exciting and successful year. We have repositioned our assets by acquiring new technologies, launching new businesses, liquidating non-core and non-performing assets, and eliminating our debt. We have now positioned our existing platform for extraordinary growth and high-impact value creation with clean innovations, climate smart mining, and ESG driven projects.

This transformational “green shift” began years ago and gained traction with our global mercury remediation and lithium-ion battery recycling projects. Those efforts recently culminated in the commissioning of our first commercial Mercury Clean-Up LLC (“MCU”) project in the Philippines, and the acquisition of a controlling stake in LiNiCo Corporation (“LiNiCo”), and its 20,000 ton per year lithium-ion battery recycling and 10,000 ton per year of 99.9% pure cathode production in the Tahoe Reno Industrial (“TRI”) Center located in Storey County, NV.

Each MCU system has the potential to produce more than $12 million in pre-tax operating income per year (depending on site conditions, mineral content and spot price). The LiNiCo facility, at just 33% of its capacity and 60% of applicable commodity prices, has the potential to generate more than $100 million in sales with estimated pre-tax operating income margins exceeding 30%. We’re also actively exploring expansions and acquisitions that support and accelerate LiNiCo’s growth with a hub-and-spoke model.

Comstock has historically focused on the extraction of precious and strategic metals, where the words “precious” and “strategic” were conventionally defined by magnitude of impact and relative scarcity. We now believe that the global clean energy transition, escalating population growth, and accelerating natural resource scarcity is converging into a “perfect storm” of global demand for a broader array of strategic materials, beyond metals, including anything involving carbon, energy, and water – without the corresponding global capacity to sustainably or reliably meet escalating demand. Our strategic focus is consequently expanding to include the extraction and valorization of a portfolio of critical and inevitably scarce materials, with an initial preference for high cash throughput generators that complement our existing competencies and operations. We are evaluating several potential transactions and investment opportunities, the first of which we hope to close this during this quarter.

Our employee incentive compensation is 100% linked to specific performance objectives designed to deliver $500 million in shareholder value and more than $12.00 per share by 2023. Our team is focused on achieving and exceeding those targets because the “perfect storm” of current demand isn’t the only thing on our horizon. A renaissance of green innovation is upon us and the pace is increasing worldwide.

We will be a leader in those efforts, with a focus on the systemic development and commercialization of new technologies and robust new lines-of-businesses, such as MCU and LiNiCo, among others, that have the potential to sustainably contribute to humanity’s rapidly-escalating demand for increasingly scarce natural resources, including the strategic metals and other resources needed to fuel the world-wide quantum surge in, and transition to, clean energy, carbon-neutrality, and natural products.

We are systematically strengthening our organization and positioning for continuous throughput growth. We will scale our MCU footprint, enhancing efficacy and targeting new deployments in qualified geographies. We will build our LiNiCo recycling and battery production business. We will acquire and build accretive technologies, projects, and businesses. We will measure the wealth we create comprehensively, with throughput as our primary financial measure, and by measuring and reporting the positive natural and social impacts of all of our activities. By sustainably delivering more than $500 million in shareholder value, we will have built an innovative, continuously growing, throughput-generating, ESG-based enterprise with diverse lines of businesses that rise above the scarcity challenges.

We are at the dawn of a new era. This tragic pandemic is nearing its end and it taught us how closely we are all connected. Not just to each other and the natural world that sustains us, but to the financial, natural, and social systems that have the power to save us. We will contribute to that end by positively impacting the existing systems, and building and integrating new systems and shareholder value along the way.

We look forward to our next communication and seeing those of you that can attend this year’s AGM, where we plan on showcasing our existing lines of businesses, employees and partners, including the results of our planned near-term transactions. Thank you always for your continued interest and support.

Kindest regards,
Corrado De Gasperis
Executive Chairman and Chief Executive Officer
Comstock Mining Inc.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources, with a focus on high-value, cash-generating, strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Source: Comstock Mining

Monday, April 12, 2021

Aurania Resources (AUIAF)(ARU:CA)
Drilling Underway at Kuri-Yawi Target; Recent Financings Enhance Financial Flexibility

As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

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.

Fully funded for remainder of 2021. Aurania Resources recently completed two financings, including a brokered equity issuance of 2,507,000 common shares for gross proceeds of C$7,771,700 and a private placement of 403,750 common shares for gross proceeds of C$1,250,000. Following the financings, the company had 46,843,388 shares outstanding by our estimate. Based on our forecasted expenditures, the company is fully funded for the remainder of the year.


Drilling Underway at Kuri-Yawi epithermal target.  Diamond drilling is underway at the Kuri-Yawi target and is testing an epithermal target and a deeper porphyry target down to potentially 1,000 meters. Recall that Aurania’s Mobile MT geophysical survey clearly defined a feature thought to be the sulphide-bearing core of a porphyry at the Yawi target. Epithermal veins were encountered about 100 …

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. 

Endeavour Silver Closes Sale of El Cubo Mine to VanGold Mining

VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) (“Endeavour”) announces that it has now closed the sale of the El Cubo Mine in Guanajuato, Mexico to VanGold Mining Corp. (“VanGold”) for $15 million in cash and share payments plus up to $3 million in future contingent payments (all dollar amounts in US dollars unless otherwise noted) (the “Transaction”).

VanGold paid $15,000,000 to Endeavour as follows:

• $7.5 million cash on closing.
• $5.0 million (C$6,399,317.40) in VanGold common shares (“VanGold Shares”) on closing, priced at $0.2344 (C$0.30) per VanGold Share for a total of 21,331,058 VanGold Shares (“Consideration
  Shares”) representing approximately 10.9% of the issued and outstanding VanGold Shares.
• $2.5 million promissory note due 12 months from closing.

VanGold has also agreed to pay Endeavour up to an additional $3,000,000 in contingent payments based on the following:

• $1.0 million upon VanGold producing 3,000,000 silver equivalent ounces from the El Cubo mill, derived from either the El Cubo or El Pinguico project, $500,000 of which may, in VanGold’s discretion, be paid in VanGold Shares.
• $1.0 million if the price of gold closes at or above $2,000 per ounce for 20 consecutive trading days within two years after the closing date of the Transaction.
• A further $1.0 million if the price of gold closes at or above $2,200 per ounce for 20 consecutive trading days within three years after the closing date of the Transaction.

Bradford Cooke, Endeavour CEO and Director, commented, “We are pleased to close this transaction and I congratulate VanGold for helping make it a win-win deal for both companies. They are in the best position to create more value out of the El Cubo assets given their emerging El Pinguico project located very close to El Cubo, and we now become the largest shareholder of VanGold. I look forward to supporting VanGold in their efforts to become the next junior silver-gold producer in Mexico!”

On the closing of the Transaction, Endeavour acquired 21,331,058 VanGold Shares. Based on 194,931,838 VanGold Shares outstanding as of the closing date of the Transaction, the Consideration Shares represent 10.9% of the outstanding VanGold Shares on an undiluted basis. Prior to the closing date of the Transaction, Endeavour did not own any VanGold Shares or other securities of VanGold.   Endeavour has agreed to abstain from voting its shares of VanGold, other than as recommended by VanGold’s management, for a period of 2 years, and to a 12-month restriction on the resale of any VanGold shares acquired in this Transaction.

Endeavour acquired its interest in the Consideration Shares for long term investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of VanGold. Endeavour may acquire additional securities of VanGold including on the open market or through private acquisitions or sell securities of VanGold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Endeavour will file an early warning report in connection with the Transaction on SEDAR at www.sedar.com. A copy of the report may be obtained by contacting Galina Meleger at:  

Contact Information
Galina Meleger, Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This
news release contains “forward-looking statements” within the meaning of the
United States private securities litigation reform act of 1995 and
“forward-looking information” within the meaning of applicable Canadian
securities legislation. Such forward-looking statements and information herein
include but are not limited to statements regarding future prospects of the El
Cubo and El Pinguico projects and future acquisitions or dispositions of
VanGold Shares. The Company does not intend to and does not assume any obligation
to update such forward-looking statements or information, other than as
required by applicable law. 

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, production
levels, performance or achievements to be materially different from those
expressed or implied by such statements. Such factors include but are not
limited to the ultimate impact of the COVID 19 pandemic on operations and
results, changes in production and costs guidance, national and local
governments, legislation, taxation, controls, regulations and political or
economic developments in Canada and Mexico; financial risks due to precious
metals prices, operating or technical difficulties in mineral exploration,
development and mining activities; risks and hazards of mineral exploration, development
and mining; the speculative nature of mineral exploration and development and
risks in obtaining necessary licenses and permits,

Forward-looking
statements are based on assumptions management believes to be reasonable,
including but not limited to: the continued exploration and mining operations,
no material adverse change in the market price of commodities, mining
operations will operate and the mining products will be completed in accordance
with management’s expectations and achieve their stated production outcomes,
and such other assumptions and factors as set out herein. Although the Company
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements or information,
there may be other factors that cause results to be materially different from
those anticipated, described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements or information will prove to be
accurate as actual results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers should not
place undue reliance on forward-looking statements or information.  

Source: Endeavour Silver Corporation

Aurania Reports High-Grade Silver-Zinc from Outcrop at Tiria-Shimpia

Toronto, Ontario, April 12, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on its first channel rock-chip sampling from the Tiria-Shimpia silver-zinc zone – a target that is over 15 kilometres (“km”) in length, in the central part of the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.    

Seven mineralized layers have been identified, one of which is 50 metres (“m”) thick.  So far, the layers have been traced laterally, through intermittent exposures in thick jungle, for between 500m and 1,100m.  As can be appreciated, with mineralization of this magnitude it will be some time before the full surface extent is truly known and sampled, however the Company is already making plans to diamond drill several key exposures in the near term.   

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “Shareholders will be aware that we have been working on Tiria-Shimpia for some time now.  Earliest indications were that we could be dealing with a simple vein system of limited mineral volume.  We are now very much aware that we are dealing with a different beast: we have traced it along trend for over 15 kilometres, and we’re starting to demonstrate continuity between one exposure and the next, Tiria-Shimpia is shaping up to be Aurania’s first discovery.  While this target is evolving, we are running our concurrent drill programs at Tsenken N1 and Kuri-Yawi, both of which give us exposure to making additional discoveries.  The Tiria-Shimpia target now extends across almost the entire width of our concession block as illustrated in Figure 1.  Our regional exploration teams are finding further extensions to the mineralized system, and our expectation is that it will grow further.”  

Additional soil sampling has expanded the area in which silver and zinc have been found in the Tiria-Shimpia target area by approximately 120% since soil results were last reported in the press release dated February 8, 2021.  

Figure 3.  Field teams measuring the true width of mineralized layers exposed in the bank of a stream.

Figure 4.  Massive sphalerite (fine-grained, brown) and galena (gray metallic) from the core of one of the high-grade layers of mineralization at Tiria-Shimpia.

Aurania Reports High-Grade Silver-Zinc from Outcrop at Tiria-Shimpia

Toronto, Ontario, April 12, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on its first channel rock-chip sampling from the Tiria-Shimpia silver-zinc zone – a target that is over 15 kilometres (“km”) in length, in the central part of the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.    

Seven mineralized layers have been identified, one of which is 50 metres (“m”) thick.  So far, the layers have been traced laterally, through intermittent exposures in thick jungle, for between 500m and 1,100m.  As can be appreciated, with mineralization of this magnitude it will be some time before the full surface extent is truly known and sampled, however the Company is already making plans to diamond drill several key exposures in the near term.   

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “Shareholders will be aware that we have been working on Tiria-Shimpia for some time now.  Earliest indications were that we could be dealing with a simple vein system of limited mineral volume.  We are now very much aware that we are dealing with a different beast: we have traced it along trend for over 15 kilometres, and we’re starting to demonstrate continuity between one exposure and the next, Tiria-Shimpia is shaping up to be Aurania’s first discovery.  While this target is evolving, we are running our concurrent drill programs at Tsenken N1 and Kuri-Yawi, both of which give us exposure to making additional discoveries.  The Tiria-Shimpia target now extends across almost the entire width of our concession block as illustrated in Figure 1.  Our regional exploration teams are finding further extensions to the mineralized system, and our expectation is that it will grow further.”  

Additional soil sampling has expanded the area in which silver and zinc have been found in the Tiria-Shimpia target area by approximately 120% since soil results were last reported in the press release dated February 8, 2021.  

Figure 3.  Field teams measuring the true width of mineralized layers exposed in the bank of a stream.

Figure 4.  Massive sphalerite (fine-grained, brown) and galena (gray metallic) from the core of one of the high-grade layers of mineralization at Tiria-Shimpia.

Endeavour Silver Closes Sale of El Cubo Mine to VanGold Mining

VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) (“Endeavour”) announces that it has now closed the sale of the El Cubo Mine in Guanajuato, Mexico to VanGold Mining Corp. (“VanGold”) for $15 million in cash and share payments plus up to $3 million in future contingent payments (all dollar amounts in US dollars unless otherwise noted) (the “Transaction”).

VanGold paid $15,000,000 to Endeavour as follows:

• $7.5 million cash on closing.
• $5.0 million (C$6,399,317.40) in VanGold common shares (“VanGold Shares”) on closing, priced at $0.2344 (C$0.30) per VanGold Share for a total of 21,331,058 VanGold Shares (“Consideration
  Shares”) representing approximately 10.9% of the issued and outstanding VanGold Shares.
• $2.5 million promissory note due 12 months from closing.

VanGold has also agreed to pay Endeavour up to an additional $3,000,000 in contingent payments based on the following:

• $1.0 million upon VanGold producing 3,000,000 silver equivalent ounces from the El Cubo mill, derived from either the El Cubo or El Pinguico project, $500,000 of which may, in VanGold’s discretion, be paid in VanGold Shares.
• $1.0 million if the price of gold closes at or above $2,000 per ounce for 20 consecutive trading days within two years after the closing date of the Transaction.
• A further $1.0 million if the price of gold closes at or above $2,200 per ounce for 20 consecutive trading days within three years after the closing date of the Transaction.

Bradford Cooke, Endeavour CEO and Director, commented, “We are pleased to close this transaction and I congratulate VanGold for helping make it a win-win deal for both companies. They are in the best position to create more value out of the El Cubo assets given their emerging El Pinguico project located very close to El Cubo, and we now become the largest shareholder of VanGold. I look forward to supporting VanGold in their efforts to become the next junior silver-gold producer in Mexico!”

On the closing of the Transaction, Endeavour acquired 21,331,058 VanGold Shares. Based on 194,931,838 VanGold Shares outstanding as of the closing date of the Transaction, the Consideration Shares represent 10.9% of the outstanding VanGold Shares on an undiluted basis. Prior to the closing date of the Transaction, Endeavour did not own any VanGold Shares or other securities of VanGold.   Endeavour has agreed to abstain from voting its shares of VanGold, other than as recommended by VanGold’s management, for a period of 2 years, and to a 12-month restriction on the resale of any VanGold shares acquired in this Transaction.

Endeavour acquired its interest in the Consideration Shares for long term investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of VanGold. Endeavour may acquire additional securities of VanGold including on the open market or through private acquisitions or sell securities of VanGold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Endeavour will file an early warning report in connection with the Transaction on SEDAR at www.sedar.com. A copy of the report may be obtained by contacting Galina Meleger at:  

Contact Information
Galina Meleger, Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This
news release contains “forward-looking statements” within the meaning of the
United States private securities litigation reform act of 1995 and
“forward-looking information” within the meaning of applicable Canadian
securities legislation. Such forward-looking statements and information herein
include but are not limited to statements regarding future prospects of the El
Cubo and El Pinguico projects and future acquisitions or dispositions of
VanGold Shares. The Company does not intend to and does not assume any obligation
to update such forward-looking statements or information, other than as
required by applicable law. 

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, production
levels, performance or achievements to be materially different from those
expressed or implied by such statements. Such factors include but are not
limited to the ultimate impact of the COVID 19 pandemic on operations and
results, changes in production and costs guidance, national and local
governments, legislation, taxation, controls, regulations and political or
economic developments in Canada and Mexico; financial risks due to precious
metals prices, operating or technical difficulties in mineral exploration,
development and mining activities; risks and hazards of mineral exploration, development
and mining; the speculative nature of mineral exploration and development and
risks in obtaining necessary licenses and permits,

Forward-looking
statements are based on assumptions management believes to be reasonable,
including but not limited to: the continued exploration and mining operations,
no material adverse change in the market price of commodities, mining
operations will operate and the mining products will be completed in accordance
with management’s expectations and achieve their stated production outcomes,
and such other assumptions and factors as set out herein. Although the Company
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements or information,
there may be other factors that cause results to be materially different from
those anticipated, described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements or information will prove to be
accurate as actual results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers should not
place undue reliance on forward-looking statements or information.  

Source: Endeavour Silver Corporation

Friday, April 09, 2021

Endeavour Silver (EXK)(EDR:CA)
Endeavour Builds Metals Inventory For Sale At Higher Prices

As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

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.

First quarter production results not far off the mark. Compared to the prior year period, first quarter silver and gold production increased 22.2% and 31.1% to 1,048,100 ounces and 11,109 ounces, respectively, compared to our estimates of 1,106,764 ounces and 9,495 ounces. During the quarter, the company sold 623,379 ounces of silver and 10,663 ounces of gold. Payable silver and gold ounces produced during the quarter amounted to 1,036,710 and 10,894 ounces, respectively. Most of the variance in gold production was due to higher gold production from El Compas due to higher processed tonnes and gold grades. Compared to the fourth quarter of 2020, first quarter silver and gold production declined 6.2% and 11.7%, respectively.


Updating 2021 estimates.  The company withheld metal from sale due to pricing and ended the quarter with 523,235 ounces of silver and 1,123 ounces of gold in bullion inventory and 6,582 ounces of silver and 566 ounces of gold in concentrate inventory. Based on lower first quarter sales and modestly lower commodity price assumptions, we have lowered our 2021 EPS and EBITDA estimates to …

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