Category: Natural Resources

Troilus Discovers New Goldfield Boulder Zone 36 Km from Troilus Mine with Samples up to 26.2 g/t Gold and 27.8 g/t Silver

October 8, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the “Company”) is pleased to announce the latest results from its summer 2020 regional exploration program on its 100%-owned Troilus Project, located within the Frôtet-Evans Greenstone Belt of northern Quebec. The program focused on identifying high priority targets within the extensive land package Troilus acquired and staked earlier in the year (the “Troilus-Frôtet Property”) (see press releases dated April 28, 2020 and July 21, 2020). Initial results collected 28 km southwest of the recently announced Beyan Gold Zone Discovery (see press release dated September 30, 2020), have outlined another new zone of mineralization: the Goldfield Boulder Zone (“Goldfield”). Gold bearing boulders and outcrop can be traced and defined in situ over a minimum strike length of 4 km. Goldfield is accessible from the Route du Nord highway.

Highlights from the New Goldfield Zone:

• Grab samples returned up to 26.2 g/t gold and 27.8 g/t silver in outcrop
• Other sample highlights include: 6.51 g/t Au, 5.96 g/t Au, 4.31 g/t Au; 14.0 g/t Ag, 8.6 g/t Ag (see full results in Table 1)
• Many geological characteristics linking Goldfield to the main mineralized zones over 36 km away

“The discovery of the Goldfield Zone this summer marks an exciting moment for Troilus,” said Justin Reid, CEO of Troilus. “Earlier this year we had the opportunity to significantly increase our land holdings through a combination of acquisition and staking. The addition of the Troilus-Frôtet Property increased our land holdings from 16,000 hectares to over 107,000 hectares. Our evolving geologic model, developed over the last couple of years through drilling and exploration around the main ore bodies of Z87, the J Zones and more recently the Southwest Zone, led us to believe that the region could have district scale potential and we believed that expanding our claim area had the potential to add significant value for shareholders via discovery. The Goldfield Zone, located on the western side of the Troilus-Frôtet Property, marks the furthest afield exploration conducted to date. We are thrilled to report newly discovered, near-surface gold occurrences with samples ranging up to 26.2 g/t gold and 27.8 g/t silver, 36 km from the main mineralized zones at the Troilus property. The Goldfield Zone results, combined with the recent Beyan Zone results, suggest that gold mineralization within the Frôtet-Evans Greenstone Belt is prolific and not constrained geographically as historically thought. We await further results from locations across the Troilus-Frotêt Property collected during the summer and believe that these showings could just be the beginning of what the district could host.”

During this initial bedrock mapping and boulder tracing, the Troilus Geological team located several mineralized boulders on the main Tortigny block assaying up to 26 g/t Au with the best results highighted in the Table 1 below. The Tortigny deposit (see Figure 2), now 100% owned by Troilus, was discovered by Noranda in 1994 with an initial mineral resource estimate prepared in 1997. The latest NI 43-101 compliant mineral resource completed by Beaufield Resources in 2014, estimates measured and indicated resources of 1.1 million tonnes grading 1.8% Cu, 3.65% Zn, 48.51 g/t Ag and 0.35 g/t Au and inferred mineral resources of 99,000 tonnes grading 1.19% Cu, 1.23% Zn, 12.45 g/t Ag and <0.1 g/t Au. The Tortigny mineral resource includes 135 drill holes (34,581 metres) and covers a distance of approximately 600 metres. (The Technical Report for the Tortigny deposit titled: “TECHNICAL REPORT FOR THE TORTIGNY POLYMETALLIC PROJECT SOUTHERN JAMES BAY MUNICIPALITY QUEBEC, CANADA” and effective June 2, 2014, was completed by Micon International Limited and can be found on Beaufield Resources SEDAR profile at www.sedar.com). A qualified person has not done sufficient work to classify the historical estimates as a current mineral resource estimate. Troilus is not treating the historical estimates as current estimates and the historical estimates should not be relied upon as current mineral resource estimates. Further drilling would be required to verify the historical estimate.

Several of these boulders are large (up to 3m in length) and sub-angular, indicating a possible nearby source. These blocks were collected over a distance of 4 km from north to south. There is denser vegetation in this area so outcrops are not as exposed. Nevertheless, one nearby outcrop, located 200m north of the Goldfield Zone ran 1.8 g/t Au, suggesting further exploration is warranted beyond the current boundaries of this new zone. Mafic intrusive and felsic volcanic rocks are the main lithologies hosting these gold and silver gold showings. These units are strongly deformed and altered.

Results for approximately 85 samples are still pending from a total 440 samples that were collected in the vicinity of the Goldfield showing. The Troilus Geological team shipped over 1000 soil samples (B-Horizon) to the lab and results for these are also pending.

Troilus remains underexplored and highly prospective. Extensive field exploration work undertaken this summer across the +107,000 hectare Troilus property is currently being compiled to identify new prospective targets. Further assays of samples collected in the field are pending and will be updated in due course.

Figure 1 – Troilus Property, Regional Geology and Location of the New Goldfield Zone

Figure 2 – Close-up of the Goldfield Boulder Zone

Table 1 – New Beyan Gold Zone Initial Surface Sample Results

Quality Assurance and Control

All grab and ship samples were collected by hand and were located by hand-held GPS, bagged and sealed, and sent for assaying at ALS Laboratory, a certified commercial laboratory. Every sample was processed with standard crushing to 85% passing 75 microns on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher than 3.5 g/t Au, assays were redone with a gravimetric finish. In addition to gold, ALS carried out multi-element analysis for ME-ICP61 analysis of 33 elements four acid ICP-AES.

Qualified Person

All technical and scientific information, in this press release has been reviewed and approved by Bertrand Brassard, M.Sc., P.Geo., Chief Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Brassard is an employee of Troilus and is not independent of the Company under NI 43-101.

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 107,326 hectare Troilus property is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.

For more information:

Justin Reid
Chief Executive Officer
+1 (647) 276-0050 x 1305
Justin.reid@troilusgold.com

Paul Pint
President
+1 (416) 602-1050
paul.pint@troilusgold.com

Cautionary Note Regarding Forward-Looking Statements and Information

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the planned drill program and results on the Company, the reliability of historical estimates and the likelihood that they will be updated to current mineral resource estimates, the possible economics of the project, the Company’s understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company’s 2020 drill program and their possible impact on the potential size of the mineral resource estimate; the impact of the novel coronavirus (COVID-19) and the considerable uncertainties about the geographic, social and economic impact on the Company of its continuing global spread costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical expertise and support from local communities.. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Technical Report to be filed and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Troilus Gold Corp.
36 Lombard Street, Floor 4
Toronto, Ontario
M5C 2X3
Canada

Tel: +1 647.276.0050
Email: info@troilusgold.com

Ely Gold Royalties (TSX-V:ELY, OTCQX:ELYGF) Options the Aurora West Property, Nevada to Goldcliff Resources

Historic District Includes Operating Mill

Vancouver, British Columbia, Canada, October 8, 2020. Ely Gold Royalties Inc. (TSX-V:ELY, OTCQX:ELYGF) (“Ely Gold” or the “Company”) through its wholly owned subsidiary, Nevada Select Royalty, Inc. (“Nevada Select”), has entered into an option agreement with Goldcliff Resource (US) Inc., a wholly owned subsidiary of Goldcliff Resource Corporation (collectively “Goldcliff”) (TSX-V:GCN, OTCBB:GCFFF) whereby Goldcliff will have the option to acquire a 100% interest in the Aurora West Property located in Mineral County, Nevada (the “Option Agreement”). The Option Agreement was executed on October 7, 2020 (“the “Closing”) and does not require any additional approvals. Nevada Select will retain a two percent (2%) net smelter return royalty (“NSR”)

The Option Agreement

1. paying Nevada Select US$25,000 at Closing;
2. paying the Third-Party US$50,000 on September 23, 2021;
3. paying the Third-Party US$135,000 on September 23, 2021 (at which point Nevada Select will take possession of the Aurora West Property from the Third-Party)
4. making a final payment of US$200,000 to Nevada Select on the fourth anniversary of Closing.

In addition, Goldcliff will reimburse Nevada Select US$9,039 for 2020 claim fees at Closing.

The Third-Party will retain a 1% NSR. The private company royalty may be bought down by 0.5% at any time by payment of US$1,000,000. Nevada Select will retain a 2% NSR with no buydowns. The Option Agreement will include a one (1) mile area of interest. There are no work commitments associated with the Option Agreement.

The Aurora West Property

The Aurora West property consists of 51 claims and is contiguous with the northwest portion of the main Aurora district claims held by Hecla Mining Company. Nevada Select is currently optioning the Aurora West Property from a private company (the “Third-Party”). Hecla’s holdings include a fully permitted, recently operated 350 TPD mill.

The Aurora district has historically produced gold from low sulfidation, quartz-adularia bonanza veins. Bonanza grades were mined where these north-east structures were intersected by north-south structures. On the Aurora West claims, the Sawtooth Ridge target is located immediately northwest of the northernmost bonanza vein deposits in the Aurora district. The target consists of a large 1.5 square mile area of highlevel opaline, chalcedonic silica and argillic alteration, hosted by rhyolitic tuffs, flows and shallow intrusive domes. A series of northeast and north trending faults transect the area.

Qualified Person

Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or nearterm producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favourable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com
972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com
647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

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

Mercury Clean Up Pilot Project Commences in Nevada; MCU’s Second Unit Shipped To Philippines

Virginia City, NV (October 8, 2020) Comstock Mining Inc. (NYSE American: LODE) and its wholly-owned subsidiary, Comstock Processing LLC (collectively, the “Company” or “Comstock”) and partner Mercury Clean Up LLC (“MCU”), a strategic investee, announced today, that it has commenced its Mercury Clean Up Pilot Study targeting the old Baltimore-Maryland waste dumps located on American Flat, in immediate proximity of MCU’s mercury remediation technology and system. This follows approval from the Nevada Division of Environmental Protection (“NDEP”) that granted a final Engineering Design Change (“EDC”) associated with an As-Built Report for the Mercury Clean Up Pilot operating within Comstock’s existing Water Pollution Control Permit – NEV2000109, including the application of process solution and within its fully contained, double-lined platform.

Mr. Paul Clift, MCU CEO stated, “Our setup of the MCU process plant and DAF components is now complete, including all connections on the recycle pump to the DAF unit and the ‘Bag Filtration’ unit and the landing and installation of our operating, on-site containerized Lab. With NDEP’s approval now in hand, we are ready to start test processing mercury contaminated materials and proving our efficacy.”

The Baltimore-Maryland dumps area to the left, near MCU’s Comstock Mercury Remediation System Pilot Project

Oro Industries has also manufactured a second unit, a state-of-the-art mercury remediation system, scheduled to arrive into Davao City on October 12, 2020 (pictured below as it was being prepared for and loaded into the shipping container), for our newly created entity, MCU Philippines Inc (“MCU-P”). Comstock previously announced that it had formed MCU-P, a new 50-50 joint venture between the Company and MCU, and has invested its first $1 million into this venture. MCU-P, in a joint venture with Clean Ore Solutions (“COS”), have joint ventured to establish Clean Mineral Recovery Technologies (“CMRT”) for the remediation and rehabilitation of the mercury contaminated Naboc River on Mt. Diwata, in Davao D’Oro, Philippines. CMRT will work in direct collaboration with the Philippine Department of Environment and Natural Resources (DENR) and the provincial government of Davao D’Oro for accelerated rehabilitation of this mine-waste contaminated river.

Mr. Corrado De Gasperis, Executive Chairman and CEO stated, “The MCU team has the Comstock system installed and ready for operation while the second system is en route to Davao. We expect the arrival of the second system into Davao City next week and we are coordinating start up activities with our joint venture partner. We are excited to commence operations, remediate mercury, prove efficacy, and generate sustained growth and positive cash flows.”

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining that is currently commercializing environment-enhancing, precious-metal-based technologies, products and processes for precious metal recovery. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and completed its first phase of production. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The Company’s goal is to grow per-share value by commercializing environment-enhancing, precious-metal-based products and processes that generate predictable cash flow (throughput) and increase the long-term enterprise value of our northern Nevada based platform.

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; the possible redemption of debentures 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.

Contact information

Comstock Mining Inc.
1200 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Zach Spencer
Director of External Relations
Tel (775) 847-5272 ext.151
questions@comstockmining.com

Discover the potential scale of Kaukua South

Explore Palladium One’s major discovery at Kaukua South in this new webinar with CEO Derrick Weyrauch and VP of Exploration Neil Pettigrew.

They’ll explain how the mineralized strike length has increased six-fold from 600 meters to 4 kilometers, and touch on Hole LK20-014, which returned a core zone of 72.0 m at 1.96 g/t palladium equivalent (Pd_Eq) within a wider zone of 145.5 m at 1.28 g/t Pd_Eq.

You’ll also learn more about the fundamentals of the palladium market, and why palladium is more valuable than gold. That’s why palladium-dominant PGE projects in low risk, first class jurisdictions — like Palladium One’s LK Project in Finland — have lots of potential.

”The Kaukua South strike extension is exceptionally significant because it has shallow disseminated sulfide mineralization the same as Kaukua and points to the footprint of a large-scale mineral system,” said Dr. Peter C. Lightfoot, one of Palladium One Mining’s directors and a globally recognized expert in magmatic precious metal and nickel-copper-cobalt sulphide ore deposits. “LK is shaping up to potentially be the largest palladium dominant open pit project in a best in class mining jurisdiction, globally.”

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-coppernickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladiumdominant 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.

Palladium One Mining is listed on the TSX Venture Exchange under the symbol PDM.

Palladium One step out hole delivers wide, high-grade mineralization at Kaukua South

October 06, 2020 – Toronto, Ontario – The first assay results from the resumed Phase I drill program at the LK Project in Finland has retuned a wide zone, of shallow, high grade palladium mineralization in the Kaukua South Extension, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today. Hole LK20-014 returned a core zone of 72.0 m at 1.96 g/t palladium equivalent (Pd_Eq)* within a wider zone of 145.5m at 1.26 g/t Pd_Eq.

Key highlights:

• Continuity between holes LK20-006 and LK20-014 demonstrates potential to rapidly add tonnes and thereby scale to existing NI 43-101 resources.
• Shallow mineralization developing at scale within the Kaukua South Zone.
• Starting at only 13.5 meters downhole, hole LK20-014 returned 145.5 m at 1.26 g/t Pd_Eq. with a core zone of 72 m at 1.96 g/t Pd_Eq.
• Hole LK20-014 is 100 m east of hole LK20-006 which returned 166.7 m at 1.27 g/t Pd_Eq. with a core zone of 63.4 m at 1.88 g/t Pd_Eq.

“Results from the Kaukua South Zone continue to indicate that the Kaukua area hosts the footprint of a large-scale, shallow, mineralized system displaying continuity,” said Derrick Weyrauch, President and Chief Executive Officer.

Hole LK20-014 is 100 m east of hole LK20-006 (see news release dated August 11, 2020), which returned nearly identical grades and widths (Table 1) and is 800 m east of hole KAU-08-035, which returned a core zone of 33 m at 1.90 g/t Pd_Eq (Figure 1).

These consistent core intercepts validate the Company’s thesis that there are more tonnes than initially thought at Palladium One’s LK Project in Finland. The shallow and high-grade core intercepts provide the opportunity to significantly increase the existing NI 43-101 Kaukua open pit resource.

Phase 1 Drill Program Update

The Company continues to log and sample the drill core from the recently completed drilling program. Fourteen holes totalling 2,566 m were completed during the resumed program in August and September, bringing the total Phase I exploration drilling program to 26 holes totalling 4,490 m.

*Palladium Equivalent

Palladium equivalent (Pd_Eq) is calculated using US$1,100/oz for palladium, US$950/oz for platinum, US$1,300/oz for gold, US$6,614/t for copper and US$15,432/t for nickel as used in the Company’s 2019, 43-101 mineral resource estimate on the Kaukua Deposit (see press release September 9, 2019).

Figure 1

This figure shows the greater Kaukua Area, the NI 43-101 compliant Kaukua Open Pit resource, Murtolampi and Kaukua South zones. The new drill defined three-kilometer eastern extension of the Kaukua South zone is shown with the resumed Phase I drill holes labelled in red.

Figure 2

Kaukua South Long section showing IP Chargeability isoshells and down hole logged sulfide percentages, resumed Phase I drill holes labelled in red.

Figure 3

Kaukua South cross section, looking west showing hole LK20-014.

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

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

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

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

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

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

Comstock Mining Monetizes Preferred Share Holdings; Reduces Debt by $2 million

Virginia City, NV (October 6, 2020) Comstock Mining Inc. (the “Company” or “Comstock”) (NYSE American: LODE) announced today, the receipt of over $4 million in cash proceeds from the monetization of preferred stock. Under the terms of the Lucerne mine sale with Tonogold, Comstock Mining received $6.1 million in Convertible Preferred Stock (“CPS”) issued by Tonogold. Through 9/30/2020, the Company had converted $3.920 million CPS in exchange for 21,777,778 common shares of Tonogold. On October 2, 2020, Tonogold redeemed the remaining $2.18 million CPS for cash proceeds of $2.616 million, representing 120% of the CPS face value. This transaction allowed the Company to reduce its promissory notes, from $4.475 million to $2.5 million, reducing interest expense.

The Company has also realized approximately $1.386 million in cash proceeds from the sale of 3,587,833 common shares at an average price of approximately $0.40 per share and continues to hold 18,189,945 common shares with a current estimated value of $7.1 million and holds a $4.475 million 12% Convertible Secured Note Receivable, due September 20, 2021. The Company retains 1.5% NSR royalties on all of Tonogold’s exploration and development properties and a 25% portion of a 4% NSR of certain Comstock Lode mineral claims.

Mr. De Gasperis, Executive Chairman and CEO stated, “Our liquidity has been strengthened and our debt obligations are within striking distance of being fully paid off as we work directly and collaboratively with Tonogold and focus on our own precious-metal developments in the both the Dayton resource and the Spring Valley exploration target areas as well as the commercialization of MCU’s mercury remediation technology and systems.”

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining that is currently commercializing environment-enhancing, precious-metal-based technologies, products and processes for precious metal recovery. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and completed its first phase of production. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The Company’s goal is to grow per-share value by commercializing environment-enhancing, precious-metal-based products and processes that generate predictable cash flow (throughput) and increase the long-term enterprise value of our northern Nevada based platform.

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; the possible redemption of debentures 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.

Contact information

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Comstock Mining Inc.
1200 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

Zach Spencer
Director of External Relations
Tel (775) 847-5272 ext.151
questions@comstockmining.com

Chakana Copper To Host Town Hall Webinar

Vancouver, B.C., October 5, 2020 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”) is pleased to announce that it will be Hosting a Town Hall Webinar on October 6, 2020, at 11:00 am EST.

David Kelley, President and CEO, will update shareholders on recent drill results on its Soledad Property in Peru and what the recent discoveries and results mean for the project and the company going forward.

The Soledad project consists of high-grade copper gold silver mineralization hosted in tourmaline breccia pipes. The company recently initiated a 15,000-meter drill program at Soledad that started August 15th having previously completed a total of 30,273 meters of drilling on the property on multiple mineralized breccia pipes.

The Webinar will be interactive and will be hosted by Follow the Money Investment Group. All stakeholders and interested investors are welcome to tune in and participate with questions. The playback will then be available on the Company’s website.

To participate in the Town Hall Webinar please register here: https://www.bigmarker.com/ftmig1/Chakana-Copper-Town-Hall-Meeting?utm_bmcr_source=peru

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-coppersilver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 31,641 metres of drilling has been completed to-date, testing eight (8) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

About Follow the Money Investment Group

Follow the Money Investor Group is an investor focused digital marketing company that provides the content and information needed for investors to navigate the ever-changing capital markets. Our global community uses our platform to discuss and collaborate daily on all facets of their current and potential investments. Our goal is to help retail investors make the right financial decisions that fit their individual needs.

ON BEHALF OF THE BOARD

(signed) “David Kelley”
David Kelley
President and CEO

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

Monday, October 5, 2020

Minerals Industry Report

Metals & Mining Third Quarter Review and Outlook

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to end of report for Analyst Certification & Disclosures

• Mining companies outperformed the broader market. During the third quarter of 2020, mining companies (as measured by the XME) gained 9.7% compared to 8.5% for the broader market as measured by the S&P 500 index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were up 6.8% and 11.7%, respectively. During the third quarter, gold futures prices increased 4.1%, while silver futures prices increased 26.1%. While gold has retreated from its all-time high in August, it is up 22.2% year-to-date through September 30. With respect to base metals, copper and zinc futures prices increased 11.8% and 18.6%, respectively, while the lead futures price declined 1.9%. Given that most metals built on price gains achieved during the second quarter, we might expect improved third quarter financial results.
• Outlook for precious metals remains constructive. With the upcoming U.S. elections, both parties appear to support continued fiscal spending, while the Federal Reserve has already signaled accommodative policies for the foreseeable future. During the third quarter, the U.S. dollar index fell 3.6% and is down 3.0% for the year after peaking in March. While we expect the USD to maintain its status as the world’s reserve currency, we see few catalysts for it to strengthen materially due to continued low interest rates, an expanding money supply, a widening trade deficit, increasing U.S. debt which stood at 135% of GDP at the end of the second quarter, and the Federal Reserve’s inclination to allow inflation to drift above its 2% target.
• Base metals could benefit from increased economic activity. We expect base metals to benefit from continued fiscal stimulus and a focus on infrastructure spending. In our view, demand should increase as economic activity improves following the depths of the pandemic’s impact on demand, coupled with the need to rebuild inventories. Additionally, we see demand for metals, including copper, nickel, silver and palladium benefiting from secular themes, including a push toward electrification and green technologies.
• Mining equities provide leverage to commodity price strength. In our view, the backdrop remains constructive for both precious and base metals since both are likely to benefit from continued fiscal and monetary stimulus and their repercussions. However, there is a risk of greater regulation of mining in the United States should the Democratic Party sweep the election.

GENERAL DISCLAIMERS

All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results. Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.
The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.
Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.”
FINRA licenses 7, 24, 63, 87

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of
transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc.

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same. Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
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Energy Fuels Applauds President Trump’s Executive Order Declaring State of Emergency to Address America’s Overreliance on Critical Minerals from Foreign Adversaries; Includes Uranium, Vanadium and Rare Earth Elements

   Energy Fuels is a leading U.S. producer of uranium and vanadium and expects to soon enter the rare earth elements processing business

LAKEWOOD, Colo., Oct. 1, 2020 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR)
(“Energy Fuels”), a leading producer of uranium and vanadium in the United States, is pleased to announce that last night President Trump issued an Executive Order on Addressing the Threat to the Domestic Supply
Chain from Reliance on Critical Minerals from Foreign Adversaries (the ”
Order“). The full text of the Order can be found here; President Trump’s message to Congress can be found here; and, a fact sheet summarizing the Executive Order can be found here. The Company believes the Order may be a major step toward providing tangible support and/or funding to be directed toward producers and processors of critical minerals, which may include Energy Fuels.

In 2018, the Secretary of Interior issued a final list of 35 minerals deemed critical to U.S. national security and the economy, which can be found here. The list includes uranium, vanadium, and the rare earth elements group. Energy Fuels has been the leading U.S. producer of uranium since 2017, and the Company’s assets have produced over 16 million pounds of uranium since 2006, placing the Company second only to Cameco in the U.S. In 2019, Energy Fuels produced 1.8 million pounds of high-purity vanadium, making the Company the largest producer of vanadium in the U.S. last year. Earlier this year, the Company announced its plan to enter into the rare earths processing business, where the Company believes its White Mesa Mill can play a critical role in bringing the rare earth element supply chain back to the U.S. At the end of 2020, the Company expects to hold significant inventories of both uranium and vanadium that have been produced in the U.S.

The Order was signed pursuant to the International Emergency Economic Powers Act, the National Energencies Act, and section 301 of title 3, United States Code, which includes the declaration of a national emergency “to deal with the threat posed by our Nation’s undue reliance on critical minerals, in processed or unprocessed form, from foreign adversaries.”

The Order requires “the Secretary of Interior, in consultation with the Secretary of Treasury, the Secretary of Defense, the Secretary of Commerce, and the heads of other executive departments and agencies, as appropriate, to investigate our Nation’s undue reliance on critical minerals….” Following this investigation, the Secretary of Interior shall submit a report to the President within sixty (60) days recommending additional executive actions, “which may include the imposition of tariffs or quotas, other import restrictions …, or other appropriate action, consistent with applicable law.”

Importantly for Energy Fuels, the Order also “begins the process for the Department of Interior to develop a program to use its authorities under the Defense Production Act (”
DPA“) to fund mineral processing that protects our national security.” Energy Fuels holds over 11.5 million pounds of licensed uranium processing capacity in three facilities, including two in situ recovery (”
ISR“) uranium facilities and the White Mesa Mill, which is the only conventional uranium and vanadium processing facility in the United States. This is more uranium processing capacity than any other U.S. uranium company, and Energy Fuels holds more in-ground uranium resources than any other U.S. uranium miner.

Mark S. Chalmers, President and CEO of Energy Fuels stated: “President Trump made a strong statement last night on the importance of bringing the production of critical minerals back to the United States. In 2018, the Administration deemed 35 minerals critical to U.S. national security and the economy. For 31 of these 35 minerals, the U.S. imports more than half of our requirements. And, for 14 of these 35 minerals, the U.S. is effectively 100% dependent on imports. These minerals are needed for aerospace, computers, cell phones, electrical generation and transmission, renewable energy systems and batteries, and advanced electronics. This is an unacceptable situation for a superpower like the United States, and we applaud President Trump for taking bold action to address this critical need.

“Energy Fuels stands ready to do our part in bringing uranium, vanadium and rare earth element processing and production back to the United States. We have led uranium industry efforts in Washington DC over the past three years to bring the issue of mineral supply chain security to the forefront, beginning with our Uranium Section 232 Petition, in which we asked the President to impose quotas on uranium imports. Unfortunately, despite expressing strong support for domestic uranium producers, the Administration has not yet turned their strong support into definitive actions. Energy Fuels strongly supports the President’s declaration of a national emergency and invoking the Defense Production Act to free up the immediate government funding required to bring uranium production back to the United States and reduce our current dependency on imports from foreign adversaries, while also helping to fund U.S. vanadium and rare earth element production.

“Energy Fuels will continue our efforts in Washington, DC towards seeing that last night’s announcement results in real, tangible support for U.S. uranium, vanadium and rare earth element producers.”

About Energy Fuels: Energy Fuels is a leading US-based
uranium mining company, supplying U₃O₈ to major nuclear
utilities. The Company also produces vanadium from certain of its projects, as
market conditions warrant, and is evaluating the potential to also recover rare
earth elements at its White Mesa Mill. Its corporate offices are near Denver,
Colorado, and all of its assets and employees are in the United States. Energy
Fuels holds three of America’s key uranium production centers, the White Mesa
Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR
Project in Texas. The White Mesa Mill is the only conventional uranium mill
operating in the U.S. today, has a licensed capacity of over 8 million pounds
of U₃O₈ per year, and has the ability to produce vanadium
when market conditions warrant. The Nichols Ranch ISR Project is on standby and
has a licensed capacity of 2 million pounds of U₃O₈ per
year. The Alta Mesa ISR Project is also on standby and has a licensed capacity
of 1.5 million pounds of U₃O₈ per year. In addition to
the above production facilities, Energy Fuels also has one of the largest NI
43-101 compliant uranium resource portfolios in the U.S., and several uranium
and uranium/vanadium mining projects on standby and in various stages of permitting
and development. The primary trading market for Energy Fuels’ common shares is
the NYSE American under the trading symbol “UUUU”, and the Company’s
common shares are also listed on the Toronto Stock Exchange under the trading
symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

Cautionary Notes: This news release contains
certain “Forward Looking Information” and “Forward Looking
Statements” within the meaning of applicable United States and Canadian
securities legislation, which may include, but is not limited to, statements
with respect to: any expectation that the Order may be a major step toward
providing tangible support and/or funding to be directed toward producers and
processors of critical minerals, which may include Energy Fuels; any
expectation that the Company’s White Mesa Mill can play a critical role in
bringing the rare earth element supply chain back to the U.S.; any expectation
that the Order may help to fund U.S. uranium, vanadium and/or rare earth
element production; any expectation as to how or to the extent the Order may be
implemented and that the Order may result in real, tangible support for U.S.
uranium, vanadium and rare earth element producers; any expection as to any
inventories of both uranium and vanadium that the Company may hold at any time;
and any expectation that the Company may to soon enter the rare earth elements
processing business. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as “plans,”
“expects,” “does not expect,” “is expected,”
“is likely,” “budgets,” “scheduled,”
“estimates,” “forecasts,” “intends,”
“anticipates,” “does not anticipate,” or
“believes,” or variations of such words and phrases, or state that
certain actions, events or results “may,” “could,”
“would,” “might” or “will be taken,”
“occur,” “be achieved” or “have the potential
to.” All statements, other than statements of historical fact, herein are
considered to be forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements express or
implied by the forward-looking statements. Factors that could cause actual
results to differ materially from those anticipated in these forward-looking
statements include risks associated with: any expectation that the Order may be
a major step toward providing tangible support and/or funding to be directed toward
producers and processors of critical minerals, which may include Energy Fuels;
any expectation that the Company’s White Mesa Mill can play a critical role in
bringing the rare earth element supply chain back to the U.S.; any expectation
that the Order may help to fund U.S. uranium, vanadium and/or rare earth
element production; any expectation as to how or to the extent the Order may be
implemented and that the Order may result in real, tangible support for U.S.
uranium, vanadium and rare earth element producers; any expection as to any
inventories of both uranium and vanadium that the Company may hold at any time;
any expectation that the Company may to soon enter the rare earth elements
processing business; and the other factors described under the caption
“Risk Factors” in the Company’s most recently filed Annual Report on
Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company’s website at www.energyfuels.com. Forward-looking statements
contained herein are made as of the date of this news release, and the Company
disclaims, other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information, results, future
events, circumstances, or if management’s estimates or opinions should change,
or otherwise. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the reader
is cautioned not to place undue reliance on forward-looking statements. The
Company assumes no obligation to update the information in this communication,
except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: Energy Fuels Inc., Curtis Moore – VP – Marketing & Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com,
www.energyfuels.com

Wednesday, September 30, 2020

Ely Gold Royalties (ELYGF)(ELY:CA)

Purchase of Royalty Would Provide Exposure to Cote Gold Project in Ontario

As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

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

Proposed acquisition of the Watershed Royalty. Ely Gold Royalties agreed to purchase a 1% net smelter returns royalty on mining claims in Ontario, Canada from Sanatana Resources Inc. (TSXV, STA, Not Rated). The Watershed Royalty surrounds the Cote Gold Project which is a joint venture between IAMGOLD (NYSE, IAG, Not Rated) and Sumitomo Metal Mining Company. Consideration includes C$2.5 million in cash and 1 million Ely Gold warrants with an approximate value of C$500 thousand.


Transaction contingencies.  Completion of the royalty sale is subject to: 1) receipt by Sanatana of a waiver from IAMGOLD of its right of first refusal (ROFR), 2) negotiation of a definitive agreement, and 3) approval of the TSX Venture Exchange (TSXV). In the event IAMGOLD exercises the ROFR, Sanatana will pay a break-up fee of C$500 thousand to Ely Gold …

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. 

Ely Gold Royalties Purchases Coté Project Gold Royalty, Ontario Canada

Vancouver, British Columbia – September 29, 2020– Ely Gold Royalties Inc. (TSXV: ELY) (OTCQX: ELYGF) (“Ely Gold” or the “Company“) has agreed to purchase, a 1% net smelter returns royalty (the “
Watershed Royalty”) from Sanatana Resources Inc. (TSX-V:STA) (“Sanatana”).

The Watershed Royalty was granted to Sanatana in connection with an Asset Purchase Agreement between the Company and Trelawney Augen Acquisition Corp., now IAMGOLD Corporation (“IAMGOLD”), dated January 12, 2016, (the “Purchase Agreement”) whereby IAMGOLD acquired a 100% interest in 46 mining claims in Chester and Yeo Counties, Ontario (the “Watershed Property”). The Watershed Property surrounds the Coté Gold Project which is a joint venture between IAMGOLD and Sumitomo Metal Mining Company. Part of the Watershed Claims are included in the November 1, 2018 Feasibility Study and the balance of the claims completely surround the Coté Gold Project. (see Figure 1)

The Transaction

Sanatana will sell the Watershed Royalty to Ely Gold for total consideration of $3,000,000 to be comprised of $2,500,000 in cash and 1,000,000 Ely Gold warrants (the “Ely Warrants”) with an approximate value of $500,000. The Ely Warrants have a five-year term and will have an exercise price of C$1.31. Securities issued under the Ely Warrants will be subject to a four-month hold period. The completion of the Royalty Sale is subject to: (i) receipt by Sanatana of a waiver from IAMGOLD of its right of first refusal as provided in Watershed Royalty (“ROFR”); (ii) the negotiation of a definitive agreement; and (iii) applicable approval of the TSX Venture Exchange (the “TSX-V”). The parties have also agreed to a 90-day period of exclusivity with respect to this Transaction. In the event IAMGOLD exercises the ROFR, Sanatana will pay a break fee of $500,000 to Ely Gold.

Purchase Agreement Assignment

Sanatana and Ely Gold have also signed a term sheet (the “Term Sheet”) whereby Sanatana has agreed to (i) assign its rights and interest in the Purchase Agreement to Ely Gold (the “Assignment”) for $10,000, and (ii) Ely Gold will participate for $500,000 in Sanatana common shares (the “Common Shares”) through a non-brokered private placement (the “Private Placement”).

The Purchase Agreement provides for certain deferred payments as follows:

1. $1,500,000 upon a production decision by IAMGOLD on the Watershed Property; an
2. $1,500,000 upon the commencement of commercial production by IAMGOLD on the Watershed Property (together, the “Deferred Payments”)

In the event that IAMGOLD exercises the ROFR and either of the Deferred Payments are made to Ely Gold, it will pay 50% of any such Deferred Payments to Sanatana.

Private Placement
In connection with the Assignment, Sanatana is announcing a non-brokered private placement (the “Private Placement”) of $500,000 in Sanatana common shares (the “Common Shares”) to be purchased by Ely Gold at a price of C$0.30 per Common Share. The proceeds from the Private Placement are expected to be used by the Company for a drone based magnetic survey and an initial drilling program at the Gold Rush property. Securities issued under the Private Placement will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Private Placement.

The completion of the Assignment and the Private Placement are subject to the negotiation of definitive transaction documentation and applicable approvals from the TSXV.

Qualified Person
Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties on the Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favourable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors

Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com
972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com
647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

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

Ely Gold Royalties (TSX-V: ELY, OTCQX: ELYGF) Announces Town Hall Webinar

Vancouver, British Columbia – September 29, 2020– Ely Gold Royalties Inc. (TSXV: ELY) (OTCQX: ELYGF) (“Ely Gold” or the “Company“) is pleased to announce that it will be conducting a Town Hall Webinar on Monday, October 1, 2020, at 11:00 am EST.

Trey Wasser, President and CEO, will update shareholders on recent Ely Gold transactions, its Key Assets and the importance of its focus on North America and the Company’s growth strategy to become a premier gold royalty company.

The Webinar will be interactive and will be hosted by Follow the Money Investment Group. All stakeholders and interested investors are welcome to tune in and participate with questions. The playback will then be available on the Company’s website.

To participate in the Town Hall Webinar please register here: https://www.bigmarker.com/ftmig1/Ely-Gold-Royalties-Town-Hall3-2020-10-01-11-00-am?utm_bmcr_source=elynr

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties on the Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favourable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

About Follow the Money Investment Group

Follow the Money Investor Group is an investor focused digital marketing company that provides the content and information needed for investors to navigate the ever-changing capital markets. Our global community uses our platform to discuss and collaborate daily on all facets of their current and potential investments. Our goal is to help retail investors make the right financial decisions that fit their individual needs.

On Behalf of the Board of Directors

Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com
972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com
647-964-0292