Aurania Announces Marketing Services Agreement

Research, News, and Market Data on Aurania Resources

Toronto, Ontario, August 18,
2022 – Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q)
(“Aurania” or the “Company”) is pleased to announce an agreement with SRC Swiss Resource Capital AG of Herisau, Switzerland, (“SRC”) to provide investor relations services to the Company, subject to approval by the TSX Venture Exchange (the “TSX-V”).

SRC will provide investor relations services to increase exposure to and awareness of Aurania within the German-speaking financial community (“IR Services”), including, but not be limited to:

?          Translate information and press releases into German

?          Disseminate information and news about Aurania to existing and potential shareholders        through SRC’s own website and press agency and through other websites and media

?          Write and disseminate articles and editorials about Aurania

?          Respond directly to shareholder and interested party inquiries

?          Cause videos, pictures, and footage provided by Aurania to be broadcast on the Commodity-TV and Rohstoff-TV television channels

?          Publish audio-visual information about Aurania on YouTube and other social media such as Facebook, Twitter, and LinkedIn

The agreement with SRC has a term of approximately five months, for which they will be paid a fee of 5,000 CHF over a period of five months with any additional services for roadshows or events incurring separate fees on a case-by-case basis. The Company will also grant SRC 35,000 stock options with each stock option exercisable into one common share of the Company at a price of $0.84 CAD, vesting in quarters with ¼ vesting on the date of grant, ¼ vesting six months from the date of grant, ¼ vesting at the one-year anniversary from the date of grant, and ¼ vesting at the two-year anniversary from the date of grant. The options will expire on August 18, 2027.  SRC currently has beneficial ownership over approximately 100,000 common shares of the Company.

About Aurania

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

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

For further information, please contact:

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

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

Forward-Looking Statements

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements about: Investor Relations Activities (as such term is defined in the policies of the TSX Venture Exchange) to be performed by SRC and the anticipated approval of the TSX-V for said activities, Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania, a failure to comply with environmental regulations and a weakening of market and industry reliance on precious metals and copper. Aurania cautions the reader that the above list of risk factors is not exhaustive.

 

Friday, August 19, 2022

Comstock Inc. (LODE)
Reaching a Critical Stage

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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

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

Accelerated path to commercialization. Comstock Inc. is marketing its cellulosic ethanol production technology to existing first-generation corn ethanol facilities for upgrades to and construction of co-located commercial scale cellulosic ethanol production facilities to convert forestry waste and other forms of lignocellulosic biomass into cellulosic ethanol at improved yield and cost when compared to corn. Ethanol, made from corn starch from kernels is currently the most significant biofuel in the United States. Comstock’s first bio-intermediate is a purified form of cellulosic sugar which may be used as a chemically identical “drop-in” feedstock in corn ethanol facilities to produce about eighty gallons of advanced cellulosic ethanol per dry ton of woody biomass.

Economics expected to drive interest. Based on current market conditions and prices, Comstock estimates that a 100-million-gallon corn ethanol producer that upgrades its facility to produce an additional twenty million gallons of cellulosic ethanol could increase revenue by more than 30%. This is based on incentives available under the U.S. Environmental Protection Agency’s renewable fuels standards program which assigns renewable identification numbers (RINs) to each gallon of renewable fuel produced or imported into the United States, along with incentives provided by states like California that have enacted low carbon fuels standards….

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. 

Comstock Cellulosic Ethanol Technology Ready For Commercial Deployment

Research, News, and Market Data on Comstock Mining

Targets First Generation Corn Ethanol Facilities For
Commercialization

VIRGINIA
CITY, NEVADA, AUGUST 18, 2022 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that it is marketing its cellulosic ethanol production technology for construction of commercial scale facilities, with a focus on upgrading pre-existing first generation corn ethanol facilities to convert forestry residuals and other forms of lignocellulosic biomass into cellulosic ethanol at dramatically improved yield, efficiency, and cost when compared to corn.

Comstock’s technology efficiently fractionates wood into purified biointermediates that are uniquely isolated and free of the inhibitors and contaminants that have frustrated prior attempts at broadly commercializing cellulosic fuels technologies. Comstock’s first biointermediate is a purified form of cellulosic sugar that can be used as a chemically identical “drop-in” feedstock in corn ethanol facilities to produce about 80 gallons of advanced cellulosic ethanol per dry ton of woody biomass.

“Using cellulosic sugar as a feedstock will have extraordinary impacts for corn ethanol producers,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Woody biomass is a dramatically less expensive and available feedstock and delivers substantial higher revenue from significantly higher lifecycle carbon gains, when compared to corn.” 

The U.S. Environmental Protection Agency (“EPA”) requires and incentivizes compliance with its renewable fuel standards (“RFS”) by assigning renewable identification numbers (“RINs”) to each gallon of renewable fuel produced or imported into the U.S. Different fuel types are assigned different classes of RINs with different market values based on the degree to which each fuel type reduces greenhouse gas (“GHG”) emissions over fossil petroleum sources. California and various other states have now also enacted low carbon fuels standards which provide significant additional incentives. In short, the greater the GHG reduction, the lower the carbon intensity (“CI”) score, the higher the selling price of the resulting fuel.

Under current market conditions, our cellulosic ethanol would have a market value in California of approximately $6.30 per gallon, as compared to just over $3.00 per gallon for corn ethanol. Under current market conditions and prices, a typical 100 million gallon corn ethanol producer that upgrades its facility to produce an additional 20 million gallons of cellulosic ethanol would increase revenue by more than 30%, or over $125 million per year.

“Our goal is to accelerate the commercialization of decarbonizing technologies,” concluded De Gasperis. “We are ready to enable dramatic improvements in GHG reductions and ethanol profitability today, with existing corn-based producers.”

Comstock is evaluating a number of existing first generation corn ethanol facilities for upgrades to and construction of co-located commercial scale cellulosic ethanol production. Additional information is available from Comstock’s business development group. Please see contact information below.  

About
Comstock

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Forward-Looking
Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because 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.

Comstock Cellulosic Fuels business development contact information:

David Winsness President, Cellulosic Fuels winsness@comstockmining.com	Chad Michael Black Director-Business Development cmblack@comstockmining.com

Image Credit: Valentin Antonucci (Pexels)

Ignoring Bearish Fundamentals May Push Gold to New 2022 Lows

With commodities getting whacked on Aug. 15, gold, silver, and mining stocks materially underperformed the S&P 500. Moreover, with bond and commodities markets more attentive to Fed officials’ hawkish threats, the general stock market is the lone member pricing in a dovish pivot.

However, since hope often leads to disappointment when it’s built on a sloppy foundation, the bulls don’t realize that the Fed’s inflation fight will be one of the most challenging fundamental contests in decades. Therefore, while investors believe that the hard work is done once the Consumer Price Index (CPI) slows, the reality is that the difficult times have only just begun.

For example, the New York Fed released its Empire State Manufacturing Survey on Aug. 15. An excerpt read:

“Business activity declined sharply in New York State, according to firms responding to the August 2022 Empire State Manufacturing Survey. The headline general business conditions index plummeted forty-two points to -31.3. New orders and shipments plunged, and unfilled orders declined. Delivery times held steady for the first time in nearly two years, and inventories edged higher.”

Source: New York Fed

However, while output fell off a cliff, there was “a small increase in employment,” and the prices received index moved higher.

Source: New York Fed

Thus, while the sharp decline in output should have culminated in lower prices, the data highlights just how sticky inflation has become. Furthermore, if prices don’t decline when output craters in New York State, how can investors expect them to fall when S&P 500 companies still have resilient demand?

Furthermore, the report revealed:

“The delivery times index declined to around zero, indicating that delivery times held steady, the first month they have not lengthened in nearly two years.”

Source: New York Fed

To explain, the Fed and the consensus blamed supply-chain disruptions for the recent bout of inflation. In a nutshell: COVID-19 restrictions suffocated shipping activity, and suppliers didn’t have the inventory to meet demand. Therefore, order backlogs surged, and prices increased as manufacturers bid against one another to obtain the scarce inputs.

However, while the New York Fed’s delivery times index is back near pre-COVID-19 levels, its prices received index is not. As a result, the normalization of supply chains has done little to curb inflation, and investors materially underestimate the challenges that lie ahead.

1970s Here Were Come

While the GDXJ ETF diverged from the S&P 500 on Aug. 15, a sharp decline in the latter would spell immense trouble for the former. Therefore, the general stock market is an important component of our investment thesis. Moreover, while the S&P 500 continued its ascent and the bulls have their sights set on new all-time highs, I warned on Aug. 15 that the fundamental outlook signals the exact opposite. I wrote:

After the FFR peaked in July 1973, the Fed cut interest rates to help support a weakening U.S. economy. However, with inflation still unanchored, the policy mistake led to an even higher FFR during the depths of the recession (the gray area).

Please see below:

Likewise, the S&P 500 initially celebrated the dovish pivot. With uninformed investors assuming that cutting interest rates was the appropriate response, a sharp rally occurred in July 1973, followed by a sharp pullback and then another rally to a higher high. As a result, don’t you think the crowd was calling for a new bull market from July through October 1973? However, unanchored inflation forced the Fed to reverse course and the S&P 500 fell off a cliff.

Thus, we find ourselves in the same situation. With the consensus underestimating the destructive nature of inflation and overestimating the Fed’s ability, the bulls should suffer a crisis of confidence over the medium term.

Please see below:

To explain, the red line above tracks the year-over-year (YoY) percentage change in the headline CPI, while the green line above tracks the monthly change in U.S. nonfarm payrolls. For context, the consensus cites near-record job openings and robust payroll growth as evidence for why only a mild recession can occur (if one occurs at all).

However, the chart above highlights how unanchored inflation torpedoed that narrative in the 1970s. If you analyze the shaded gray areas (recessions), notice how the green line remained positive during the early stages of the recessions in 1970, 1974, and 1980. In a nutshell: monthly payroll growth stayed positive during the outset of all three recessions.

However, if you focus your attention on the sharp drops in the green line near the end of the 1970, 1974, and 1980 recessions (negative monthly payrolls prints), you can see that reality re-emerged and the U.S. labor market suffered mightily. Moreover, negative payroll growth was also present during the 1982 recession, but inflation was declining at that time.

As such, it’s important to remember that U.S. nonfarm payrolls growth has been positive in every month except one since May 2020. Furthermore, the U.S. unemployment rate declined to 3.5% in July – its lowest level in ~50 years – and its relationship with the CPI has similar implications.

Please see below:

To explain, the red line above tracks the YoY percentage change in the headline CPI, while the green line above tracks the U.S. unemployment rate. As you can see, the 1970, 1974, and 1980 recessions culminated with high inflation and delayed spikes in unemployment. Moreover, while the 1982 recession had a diverging relationship, Paul Volcker made it his mission to eradicate inflation at all costs. Therefore, he understood the severity of the problem and didn’t want a repeat of the outcomes from 1970, 1974, and 1980.

Furthermore, notice how the U.S. unemployment rate always bottoms before a recession? Remember, bear markets don’t end with the U.S. unemployment rate at a ~50-year low; they begin with the metric at a ~50-year low.

To that point, even modern history highlights the uninformed nature of the bulls’ thesis.

To explain, the recessions near 1990, 2000, and 2008 all began with cycle-low U.S. unemployment rates (the green line) and rising inflation (the red line). In addition, if you analyze the right side of the chart, you can see that the gap between the two is one for the ages. As such, can you guess where this story is headed next?

Finally, while I warned repeatedly that market participants underestimated the demand side of the inflation equation, the consensus still believes that supply-chain issues are the primary driver. However, with unanchored wage inflation poised to keep the pricing pressures uplifted for much longer than investors realize, the Fed will need to push the U.S. federal funds rate (FFR) much higher than 3%.

To explain, the red line above tracks the YoY percentage change in U.S. nonfarm unit labor costs from the late 1960s until today. For context, the metric combines wages and productivity to determine the labor costs incurred by U.S. businesses. In a nutshell: when the red line rises, labor is more expensive.

If you analyze the peaks, notice how unanchored labor costs were present during the 1970s and 1980s recessions. Furthermore, even modern history shows that spikes in labor costs occurred before/during the recessions near 1990, 2000, and 2008.

More importantly, the current reading is higher than 1970 and is only surpassed by 1974, 1980, and 1982. Thus, it may seem counterintuitive, but low unemployment, high wages, and high job openings (end-of-cycle metrics) are bearish, not bullish. As a result, the bulls are in la-la land, and the ‘this time is different crowd should suffer mightily when reality re-emerges.

The Bottom Line

While the PMs have rallied recently, they’re still underperforming the S&P 500 and the NASDAQ Composite. Moreover, with the latter ignoring the bearish fundamentals at their own peril, a sharp re-rating of the general stock market should help push gold, silver and mining stocks to new 2022 lows. Likewise, while the bulls want you to believe that all is well on Wall Street, their success hinges on outcomes materializing that haven’t occurred in 50+ years.

In conclusion, the PMs declined on Aug. 15, as most of the commodity complex was crushed. However, with little fear present in today’s financial markets, asset prices are far from their fundamental values. As such, the medium-term outlook is profoundly bearish, and it’s likely only a matter of time before sentiment reflects these realities.

About the Author: Przemyslaw Radomski, CFA  (PR) writes and publishes articles as Editor-in-Chief at Sunshine Profits. His work underscores his disposition of being passionately curious about market behavior. He uses his statistical and financial background to question the common views and profit from the misconceptions.

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Allegiant to Participate at the Precious Metals Summit Beaver Creek Conference

Research, News, and Market Data on Allegiant Gold

Reno, Nevada
/August 16, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU:
TSX-V) (AUXXF: OTCQX) is pleased to announce management’s participation in the Precious Metals Summit Conference hosted in Beaver Creek, CO from September 13-16, 2022. 

The Precious Metals Summit is one of the most comprehensive conferences for established producers, developers and exploration companies throughout the world.  Numerous institutional and corporate executives in the precious metals industry have historically attended this prestigious event.  Allegiant is proud to once again be one of the companies attending the event. 

ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are located in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364

ir@allegiantgold.com

Tuesday, August 16, 2022

Maple Gold Mines (MGMLF)
A Harbinger of Things to Come?

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

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

Phase II drilling at Eagle. Maple Gold reported initial assay results from the first hole of the Phase II drill program at its 100%-controlled Eagle Mine property in Quebec. The Phase II program consisted of four master diamond drill holes and one daughter drill hole totaling 4,700 meters to test extensions of mineralization along and beneath the past-producing Eagle-Telbel mine trend. To date, approximately 16,450 meters of the approximately 30,000 meters of drilling planned across the company’s Quebec project portfolio has been completed. Eagle assays have been reported for approximately 5,400 meters of drilling representing 59% of Eagle drilling completed.

Results from the first hole broaden the lens. Hole EM-22-009 intersected 11.4 grams of gold per tonne over three meters, including 24.4 grams of gold per tonne over one meter to the north of the Eagle-Telbel mine horizon in the hanging wall microgabbro. The results underscore the potential for additional styles of gold mineralization at Eagle and broader gold distribution and have implications for the company’s exploration targeting, including the Phase III drilling program later in the year. …

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. 

Maple Gold Intersects 24.4 g-t Gold over 1 Metre Within 11.4 g-t Gold over 3 Metres in Phase II Drilling at Eagle and Provides Operational and Corporate Updates

Research, News, and Market Data on Maple Gold Mines

Vancouver, British Columbia–(Newsfile Corp. – August 15, 2022) – 
Maple Gold Mines Ltd. (TSXV: MGM)
(OTCQB: MGMLF) (FSE: M3G) (“Maple
Gold” or the “Company“) is pleased to report initial assay results from the first drill hole of the Company’s Phase II drill program at its 100%-controlled Eagle Mine Property (“Eagle”) in Québec, Canada. The Phase II program consisted of four (4) master diamond drill holes and one (1) daughter diamond drill hole totalling ~4,700 metres (“m”) to test potential extensions of mineralization along and beneath the past-producing, high-grade Eagle-Telbel mine trend. The Company is also pleased to announce the appointment of Kiran Patankar as Chief Financial Officer, effective immediately.

Highlights:

• Drill hole EM-22-009 intersected 11.4 grams per tonne gold (“g/t
  Au”) over 3 m, including 24.4
  g/t Au over 1 m, to the north of the modeled main Eagle-Telbel mine horizon in the hanging wall microgabbro (see Figure 1 for drill hole locations)
• The new EM-22-009 intercept and other notable high-grade historical intercepts hosted in the same microgabbro unit (including hole 16-77: 26.7 g/t Au over 2.5 m and hole 16-71: 26.4 g/t over 1.4 m within 14.3 g/t over 2.9 m) all point to the potential significance of this favourable structural-stratigraphic target
• Limited historical drilling in the hanging wall (see Figure 1) was not typically assayed for gold as previous operators were not focused on this mineralization style and target type
• The Company has drilled ~16,450 m out of approximately 30,000 m planned in 2022 across its Québec project portfolio; Eagle assays have now been reported for ~5,400 m (representing 59% of completed Eagle drilling)

“These
initial Phase II assays include the best result thus far from our 2022 drilling
at Eagle and the location of the intercept holds great significance for our
exploration targeting going forward, including Phase III drilling later this
year,” stated Matthew Hornor, President and CEO of Maple Gold. “While core cutting has recently been
impacted by electrical issues at site, we are implementing temporary and
permanent solutions to improve efficiency and we expect the assay backlog to
ease in the coming weeks. I am also delighted to welcome Kiran in his expanded
role with the Company and we look forward to his experience as we navigate
through our strategic and corporate finance initiatives.”

Interpretation
and Summary of Results

The highlighted intercept in EM-22-009 is located to the north of the main modeled Eagle mine horizon in the hanging wall microgabbro. There is limited historical drilling in the hanging wall at Eagle and drill holes were not typically assayed for gold as previous operators were not focused on this mineralization style and favourable structural-stratigraphic target type. The new EM-22-009 intercept and other notable high-grade historical intercepts hosted in the same microgabbro unit (see Figure 2) are further indications of additional styles of gold mineralization at Eagle beyond the known Eagle-Telbel style mined historically and suggest multiple gold events that may provide for broader gold distribution than previously interpreted.

 

Figure 1: Geologic plan view map highlighting EM-22-009 intercept, completed Phase I/II drill holes at Eagle, historical drilling, known gold distribution >2 g/t Au and line of section in Figure 2.
 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/133804_eb5f1762b4c0fb99_001full.jpg
 

 

Figure 2: Cross section (100 m total width) highlighting EM-22-009 intercept and historical intercepts in the hanging wall microgabbro north of the main Eagle mine horizon.
 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/133804_eb5f1762b4c0fb99_002full.jpg

The EM-22-009 intercept is significant because these results are not found within the broadly conformable horizon mined at Eagle in the past, but instead within a microgabbro some distance to the north, which is characterized by an increase in intensity of alteration and deformation associated with a quartz-carbonate-pyrite vein zone (see Plates 1 and 2), which the Company’s geologists believe is structurally-controlled and therefore inconsistent with the syn-volcanic exhalative style of mineralization used as a predictive model in the past. Thus, in addition to pursuing favorable stratigraphic horizons (syn-volcanic exhalative gold mineralization), it is now justifiable to pursue superimposed structural targets (orogenic gold mineralization) as well.

The Company’s Phase I/II drilling at Eagle has confirmed that in addition to the conformable semi-massive pyrite horizon mined historically at Eagle-Telbel, multiple additional zones which may or may not be conformable, overlapping with the Harricana Deformation Zone, are also prospective. This includes not only the microgabbro interval, but also the Harricana Group sediments still further to the north. The Harricana Group sediments to Cartwright Group basalts contact may represent a further, largely untested target (see Figure 2).

Phase III drilling at Eagle, which is expected to commence in Q4/2022, will follow-up not only on the best results of the first two drilling phases, but also on the results of previous downhole electromagnetic (“EM”) surveys, on ranked airborne EM targets from the recently competed Mag-EM survey (see news from July 19, 2022), and on a recently completed high-resolution drone magnetic survey.

 

 
Plate 1: Drill core from EM-22-009 at 991.3m; sedimentary interval within microgabbro unit, in 1m interval that graded 6.66 g/t Au. Note quartz-ankerite veinlets cutting sulfide bands. Visually similar to historically mined mineralization but located well to the north of the main Eagle mine horizon.
 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/133804_eb5f1762b4c0fb99_003full.jpg 
 

 

 
Plate 2: Mineralized interval within sample from 992-993m that graded 24.4 g/t Au, in mixed altered microgabbro (left side) and sediment (right side).
 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/133804_eb5f1762b4c0fb99_004full.jpg
 

Complete assay results from EM-22-009 are included in Table 1 below.

Table 1: Summary of key intercepts from drill hole EM-22-009 completed during Phase II Eagle drilling. All intervals are downhole core lengths. True widths are ~50-70% of downhole lengths.

To view an enhanced version of Table 1, please visit:
https://images.newsfilecorp.com/files/3077/133804_table1.jpg

Operational
Update

Due to recent electrical issues at site, the Company has faced challenges with its core saws resulting in a temporary backlog of assay results. The Company has contracted third-party core cutting providers to secure its immediate needs, has procured standby equipment, and is making necessary upgrades to ensure long-term efficiencies and redundancies so that similar problems are avoided in the future.

Executive
Appointment

Maple Gold is pleased to announce the appointment of Kiran Patankar as Chief Financial Officer of the Company replacing Gregg Orr. Mr. Patankar has held the position of Senior Vice President, Growth Strategy with the Company since 2021 and will continue to apply his skills and experience to the execution of corporate strategy and evaluation of strategic initiatives. He is an accomplished mining executive with more than 15 years of progressively senior investment banking and public company executive experience including responsibility for executing M&A and corporate finance transactions totaling more than $3 billion, project evaluation and development, contract negotiation, stakeholder engagement and corporate governance. Mr. Patankar holds a Master of Business Administration (MBA) from the Yale School of Management and a Bachelor of Science (BS) in Geological Engineering from the Colorado School of Mines.

Option Issuance

The Company has approved the grant to certain employees and officers of stock options (“Options”) to purchase an aggregate of 1,050,000 common shares of the Company at an exercise price of $0.26 per common share. The Options have a 5-year term and vest 1/3 immediately, 1/3 in 12 months and 1/3 in 24 months from the date of grant until fully vested.

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.

Quality
Assurance (QA) and Quality Control (QC)

The Company implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Eagle covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drillhole surveying; core transport; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the Val d’Or, Québec AGAT laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company’s QA/QC webpage at www.maplegoldmines.com.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit 
www.maplegoldmines.com.

ON BEHALF OF
MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For
Further Information Please Contact:

Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: 
jlang@maplegoldmines.com

NEITHER THE TSX
VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED
IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Forward-Looking
Statements:
This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly
disclaims any intention or obligation to, update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
except as required by law.

 

Monday, August 15, 2022

Sierra Metals (SMTS)
Unexpected 2Q Loss; Anticipate a Stronger Second Half

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its 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.

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

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

Second quarter financial results. Sierra Metals reported an adjusted net loss of $11.6 million, or $(0.07) per share, compared with net income of $5.9 million, or $0.04 per share, during the prior quarter. We had forecast net income of $5.2 million, or $0.03 per share. Adjusted EBITDA amounted to $1.4 million compared to $16.0 million during the prior quarter. Second quarter financial results reflected lower metal prices and margin, along with an $11.0 million mark-to-market adjustment to unsettled open sales positions at the end of the second quarter due to the decline in metal prices toward the end of the second quarter. Revenue from metals payable decreased to $49.9 million compared to $57.2 million during the first quarter of 2022.

Adjusting estimates. Sierra lowered its 2022 production guidance and now expects to produce between 70.0 million and 78.0 million copper equivalent pounds compared with prior guidance of 79.5 million to 89.7 million pounds. The revised forecast reflects a slower operational turn-around at the Bolivar mine and the impact of underground flooding at the Cusi mine during the second quarter. EBITDA is now expected to be in the range of $61.0 million to $67.0 million compared to prior guidance of $90.0 million to $105.0 million. We have lowered our full year 2022 EPS and EBITDA estimates to $0.06 and $63.9 million from $0.18 and $89.1 million, respectively. …

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. 

Comstock Announces The Sale Of The Daney Ranch

Research, News, and Market Data on Comstock Mining

VIRGINIA
CITY, NEVADA, AUGUST 15, 2022 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that it has executed all of the closing documents on one of its three major non-mining assets, the Daney Ranch property, located near Dayton, Nevada, for a sales price of $2.7 million.

“We are pleased to close this deal and advance our monetization program. The buyer is a mining industry veteran and an outstanding neighbor. This is just one in a series of closings expected over the next 3 to 4 months, as we complete the rest of our non-mining asset sales,” said Mr. Corrado De Gasperis, Executive Chairman and CEO.

In 2020, the Company entered into an agreement with the owner of an established exploration and mine development drilling services company, to lease the properties for $9,000 per month, for up to 24 months, including the assumption of all maintenance, upgrades, and repairs. As the transaction closed within two years, about $200,000 of those lease payments were creditable to the purchase price, resulting in a net price at closing of $2.5 million. The transaction funds this week, resulting in an additional $1.5 million in cash and a $1 million secured, interest bearing note that is required to be paid off upon the sale of specific assets owned by the buyer.

About
Comstock

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future changes in our research and development; and future prices and sales of, and demand for, our products and services. 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 call or discussion 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. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc	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

Thursday, August 11, 2022

Endeavour Silver (EXK)
Withholding Sales for Inventory Impacts Quarterly Results

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

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

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

Second quarter 2022 results. Endeavour generated a second quarter adjusted net loss of $4.3 million, or $(0.02) per share, compared to adjusted net income of $2.4 million, or $0.01 per share, during the prior year period. We had projected a loss of $5.6 million, or $(0.03) per share. Including changes in the fair value of investments, the company reported a loss of $(0.07) per share. Endeavour retained inventory for future sale at higher prices. At quarter end, Endeavour held 1,399,356 ounces of silver and 2,580 ounces of gold in bullion inventory and 12,408 ounces of silver and 587 ounces of gold in concentrate inventory.

Updating estimates. Endeavour increased its production forecast to a range of 7.6 million to 8.0 million from 6.7 million to 7.6 million silver equivalent ounces to reflect higher than planned ore-grades along the El Curso ore body at Guanacevi. While the company is experiencing cost inflation, cash and all-in sustaining costs expectations remain $9.00 to $10.00 per ounce and $20.00 to $21.00 per ounce, respectively. We increased our 2022 EPS estimate to $0.11 from $0.10 and reduced our 2023 estimate to $0.13 from $0.15 to reflect modestly lower commodity prices and margin….

This 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. 

Thursday, August 11, 2022

Comstock Inc. (LODE)
Making Significant Headway

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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

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

Patent filing. Comstock recently filed for a new patent covering breakthroughs to produce renewable diesel, marine fuel, sustainable aviation fuel and gasoline from woody biomass with improved yield, efficiency, and cost compared to other methods. The patent filing represents an expansion of its intellectual property and cellulosic technology portfolio with proprietary technology advancements enabling a new sustainable feedstock capable of significantly lowering U.S. transportation emissions.

Establishing strategic partnerships. Comstock expects to file an application in September for a U.S. Department of Energy (DOE) grant to validate production of purified bio-intermediaries and renewable fuels from woody biomass. Based on its preliminary application, the company established strategic collaborations with leading industry partners that could lead to feedstock and offtake relationships associated with the the development of renewable fuels from woody biomass….

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. 

Wednesday, August 10, 2022

Eskay Mining Corp. (ESKYF)
Extending the Strike Length at TV-Jeff

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

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

New VMS discovery at the Jeff North target. Eskay Mining announced the discovery of a new volcanogenic massive sulfide (VMS) center at the Jeff North target in addition to recent drill intercepts of polymetallic mineralization in two areas along the TV-Jeff corridor within its Consolidated Eskay VMS Project. With four drill rigs deployed, the company has completed approximately 15,600 meters of diamond core drilling to date, or approximately 52% of the 30,000 meters planned to be completed in 2022.

District-scale potential. The TV-Jeff VMS corridor is shaping up to be another large VMS complex with sulfide mineralization along multiple fault structures with intense hydrothermal alteration of volcanic rocks. The discovery of Jeff North extends the strike length of the known TV-Jeff VMS corridor to 3.7 kilometers. Anomalous geochemical results from soil samples collected indicate mineralization potentially extends another two kilometers further north from Jeff North….

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. 

Wednesday, August 10, 2022

Defense Metals Corp. (DFMTF)
Setting Up for a Compelling Preliminary Feasibility Study

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

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

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

Resource infill and exploration drilling completed. Defense Metals announced the completion of its 2022 resource infill and exploration diamond drilling program. A total of 12 holes, representing over 3,500 meters, were drilled with initial assay results expected during September or October 2022. Drilling was centered in northern and central areas of the Wicheeda REE deposit pit area outlined in the company’s preliminary economic assessment (PEA).

Geotechnical drilling commences. Geotechnical drilling will aid optimizing the open pit slope design. Five geotechnical drill holes are contemplated and will target the north, west, south, and east high walls of the pit in the Wicheeda PEA mine plan. Data from the geotechnical drilling will be used to support future advanced economic studies….

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.