Element79 Gold Completes Acquisition of High-Grade Peruvian Gold Portfolio

Historic production averaging up to 19 g/t Au Equivalent, Recent
sampling returned up to 116 g/t Au Equivalent, Includes one of the
highest-grade underground mines in Peru’s history

VANCOUVER, BC / ACCESSWIRE / June 29, 2022 / Element79
Gold Corp. (CSE:ELEM)(OTC PINK:ELMGF)(FSE:7YS) (“Element79
Gold”, the “Company“) announces that pursuant to the definitive share purchase agreement dated June 19, 2022 (the “Agreement“), it has closed the acquisition of all of the issued and outstanding common shares of Calipuy Resources Inc. (“Calipuy”) from the shareholders of Calipuy (the “Calipuy Shareholders“). Calipuy, through its subsidiaries, holds 100% interest in two past producing gold-silver mines: the Lucero mine (“Lucero”), one of the highest-grade underground mines in Peru’s history⁽¹⁾ at grades averaging 19.0 g/t Au Equivalent (“Au Eq”) (14.0 g/t gold and 373 g/t silver),^(1,2) as well as the Machacala Project (“Machacala”
and, together with Lucero, the “Properties“) which averaged production grades of 10.5 g/t Au Eq (6.0 g/t gold and 340 g/t silver).
⁽³⁾ Operations were suspended in 2005 at Lucero and 1991 at Machacala due to the persistence of low gold and silver prices at the time. Element79 Gold has previously disclosed the terms of the Agreement (see news release dated June 20, 2022, available on SEDAR).

Highlights of the High-Grade Peruvian Gold Portfolio :

• Recent samples at Lucero returned up to 116.8 g/t Au Eq (78.7g/t Au and 2,856 g/t Ag)⁽⁹⁾; Consistent with historic high grade production of 19.0 g/t Au Eq (14.0 g/t Au and 373 g/t Ag) between 1998 and 2004⁽²⁾; Recent historic prospecting indicates potential for additional bulk-tonnage high-sulphidation gold-silver deposit
• Most recent drilling at Machacala returned up to 15.7 g/t Au Eq (13.55 g/t AU and 164 g/t Ag) over 3.15m in the drill hole Ma-04 on the Fragua vein⁽¹⁰⁾; 230,000 tonnes of historical production averaging 10.5 g/t Au Eq (6.0 g/t Au and 340 g/t Ag) from 1979 to 1991⁽³⁾;

“The closing of the Calipuy transaction delivers high-grade assets, potentially capable of operating in the near-term, to Element79 Gold’s growing portfolio, offering an expedited route toward cash-flow generation through these significant production-stage properties,” commented James Tworek, President and CEO of the Company. “With the on-site team being assembled and planning is underway for both sites, Element79 Gold’s focus is to accelerate the timeline to operations at these properties by expanding on current datasets and exploration at each asset.”

Peru has a mining-friendly legislation that allows up to 350 tpd production while larger scale production permitting is underway. Element79 Gold has previously stated that it intends to pursue the opportunities aggressively (see news releases dated March 10, 2022, March 17, 2022, and June 20, 2022, available on SEDAR).

Lucero Project

Formerly operated as the Shila mine from 1989 to 2005, Lucero consists of 10,805 hectares located in the Shila range of southern Peru, which contains several historic high grade gold-silver mines.⁽¹⁾ Lucero consistently delivered high grades during 16 years of operations, and between 1998 and 2004 reported production averaging approximately 18,800 ounces of gold and 435,000 ounces of silver per year at grades of 19.0 g/t Au Eq (14.0 g/t Au and 373 g/t Ag),
⁽²⁾ with recoveries at the ore processing facility averaging 94.5% for gold and 85.5% for silver.⁽¹⁾

A recent NI 43-101 technical report on Lucero has been prepared for Calipuy by Mining Plus. Samples collected by the technical report’s Qualified Person (the “QP“) returned up to 116.8 g/t Au Eq (78.7g/t Au and 2,856 g/t Ag)⁽⁹⁾. Due to a lack of historical data, the project does not host any resources. However, access to the historic workings is available, and the QP states Lucero is underexplored and has significant exploration potential for extension of known veins, and to discover additional veins.⁽⁹⁾

Lucero is one of many low-sulphidation epithermal Au-Ag deposits hosted in tertiary volcanics of the Central Andes Cordillera of southern Peru. The project hosts 74 recognized epithermal veins, 14 of which have been partially exploited. High grade ‘bonanza-style’ direct shipping ore was mined in the past from low-to-intermediate-sulphidation quartz-carbonate massive sulphide veins. Prospecting by previous operator Condor Resources Inc. from 2012 to 2020 identified the high-sulphidation epithermal alteration zone with structures that returned peak sample values of 80.1 g/t Au Eq (33.4 g/t Au and 3,500 g/t Ag)⁽¹¹⁾. This alteration zone, measuring approximately 1,300 metres by 1,400 metres, exhibited no evidence of prior sampling or drilling and is believed to host potential for a bulk tonnage disseminated gold-silver deposit.⁽¹⁾

“Lucero offers a rare opportunity to explore for not only an underground high-grade low sulphidation system but potentially an open pit-able high sulphidation system as well,” stated Neil Pettigrew, M.Sc., P.Geo, Director of Element79 Gold “This project has never experienced modern exploration techniques and I am very confident that significant gold-silver resources are to be found.”

A 0.5% Net Smelter Returns royalty is retained by Sandstorm Gold Ltd., one of the largest gold royalty companies in the world.⁽²⁾

Machacala Project

Machacala consists of over 4,000 hectares located in the District of Carabamba, Province of Julcan, Department of La Libertad. In 2004, Gold Hawk Resources, Inc. (”
Gold Hawk“) estimated a total inferred resource of 420,000 Au Eq ounces hosted within 1,560,000 tonnes, which equates to a gold equivalent grade of 8.4g/t, however individual gold and silver grades were not reported.⁽⁴⁾ This historic estimate is the most recent historic resource estimate relevant to Machacala. In additional Machacala also includes approximately 200,000 tonnes of tailings, which have historically been estimated in 2004 to grade 1.26 g/t gold and 74 g/t silver(6). This historical tailings estimate is historic in nature, and non-43-101 compliant. Historical metallurgical studies by Gold Hawk show 87% recoveries of gold and 50%+ recovery of silver in 24 hours of leaching un-milled tailings, with re-milling able to increase recoveries to 90% of gold and 73% of silver in 24 hours of leaching.(7). A qualified person has not
conducted sufficient work on either the historical Gold Hawk or Tailings
estimates required to categorize these resources to the CIM definition of a
current mineral resources, which may include the preparation of a new NI 43-101
Technical Report. Element79 Gold is not treating these historic estimates as
current mineral resources and a qualified person has not reviewed the work to
define the quality of work associated with this historic estimate.
While these historical estimates are considered to be relevant to
future exploration of the Machacala property they should not be relied upon and
there can be no assurance that any of the historical resources, in whole or in
part, will ever become economically viable.

Machacala was first commercially mined in the 1950s before being acquired and operated by Minera Santa Isabel, S.A. from 1979 to 1991 which mined 230,000 metric tonnes averaging 10.5 g/t Au Eq (6.0 g/t Au and 340 g/t Ag) representing 78,000 Au Eq ounces.
⁽⁴⁾ Operations were suspended in 1991 due to the persistence of a low gold ($360/oz) and silver ($3.81/oz) price. Neighboring concessions include those owned by Fortescue Metals Group (ASX Listed) and by Fresnillo Peru S.A.C., a subsidiary of Fresnillo plc (LSE Listed).^(3,5)

The project was most recently explored by Gold Hawk and Meridian Gold between 1997 and 2004, with a total of 8,500m in 45 core and RC drill holes completed. Highlights of this drilling include 11.6 g/t Au Eq (11.32 g/t Au and 23.6 g/t Ag) over 3.7m in the Casa Fuerza vein, and 15.7 g/t Au Eq over 3.15 m (13.55 g/t Au and 164 g/t Ag) in the Fragua vein¹⁰⁾. Machacala hosts multiple low-sulphidation epithermal Au-Ag veins, of which only four have been only modestly exploited.⁽⁵⁾

A 1.5% Net Smelter Returns royalty is retained by previous owners of the property.

“Machacala possesses significant historical data, as well as 8,500 meters of recent drilling, which we hope will assist in the definition of NI 43-101 compliant resources,” commented Neil Pettigrew, M.Sc., P.Geo, Director of Element79 Gold. “The project is also at a low elevation and has excellent infrastructure which will facilitate returning the project to production.”

Terms of the Acquisition

Pursuant to the Agreement, the Company acquired all of the issued and outstanding securities of Calipuy from the Calipuy Shareholders (the “Acquisition“). As consideration for the Acquisition, the Company paid USD$15 million by the issuance, on a pro rata basis to the Calipuy Shareholders, of (i) an aggregate of 19,165,484 common shares of the Company at deemed issue price of CAD$1.00 per share (the “Consideration Shares“) and (ii) performance bonus warrants to acquire an aggregate of 3,833,085 common shares of the Company (the “PerformanceBonus Warrants“).

Each Performance Bonus Warrant is exercisable into one common share of the Company at an exercise price of CAD$2.00 per share for a period of three years from Exercise Eligibility Date (as defined herein), subject to achievement of the Bonus Performance Target (as defined herein), the policies of the Canadian Securities Exchange (the “Exchange“) and the terms of warrant certificates to be issued to the Calipuy Shareholders in respect thereof. The Company may accelerate expiry of the Performance Bonus Warrants if the common shares of the Company have a closing price greater than CAD$3.50 per share for a period of ten consecutive trading days on the Exchange at any time after the closing of the Acquisition (the “Closing“). The holders of the Performance Bonus Warrants will not have the right to exercise the Performance Bonus Warrants until projects carried out on the Properties have cumulatively reached a minimum production target of 9,000 tons of ore yielding a minimum of 1,500 oz Au within a 30-day production period (the ”
Bonus PerformanceTarget“) and the Company provides notice of achievement of the Bonus Performance Target via news release (the “Exercise EligibilityDate“).

All issuances of Consideration Shares were paid in CAD denominated shares at the agreed exchange rate of CAD$1.2777 to USD$1.00. An aggregate of 12,971,503 Consideration Shares and 2,594,298 Performance Bonus Warrants are subject to a lock-up agreement, whereby 50% will be released from lock-up 6 months from Closing and the remaining 50% will be released 12 months from Closing. The balance of the Consideration Shares and Performance Bonus Warrants, other than those held by U.S. persons, are not subject to any resale restrictions under applicable securities laws.

The Acquisition is a related party transaction pursuant to Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions (“MI
61-101“). Antonios Maragakis, who is the CEO and a director of Calipuy, is also a director and the COO of the Company. Shane Williams, who was a director of Calipuy immediately prior to the Closing, was recently elected as a director of the Company at its Annual General Meeting on June 22, 2022 (together, the “Related Parties“). Each of the Related Parties have disclosed their interest in the Acquisition to the board of directors of each of the Company and Calipuy, and abstained from voting on approval of the Agreement, the Acquisition and the Closing. Prior to Closing, neither of the Related Parties held any common shares of the Company, and following Closing their beneficial direct and indirect shareholdings increased to 97,688 common shares and 292,509 common shares, respectively. The Acquisition, the Agreement and the Closing were reviewed and considered by the disinterested members of the board of directors of the Company with each of the Related Parties recusing themselves from discussions relating to the same, and the disinterested members of the board unanimously approved entry into the Agreement and completion of the Acquisition on the terms of the Agreement. The Company believes that the Acquisition provides an opportunity to advance the Properties and deliver value to Element79 shareholders. A special committee was not formed for the purpose of reviewing the Acquisition and an independent valuation was not obtained in connection with the Acquisition. On Closing, each of the Related Parties terminated any and all compensation agreements they had with Calipuy and waived any entitlement to severance or change of control payments by Calipuy that would have otherwise been triggered as a result of the Acquisition. In connection with the Acquisition, the Company relied on (i) the exemption at paragraph 5.5(b) of MI 61-101 from the valuation requirements since the Company is not listed on any of the markets specified therein; and (ii) the exemption at paragraph 5.7(a) of MI 61-101 from the minority approval requirements as the fair market value of the 97,688 Consideration Shares and 19,537 Performance Bonus Warrants issued to Mr. Maragakis, and the 292,509 Consideration Shares and 58,501 Performance Bonus Warrants issued to a company controlled by Mr. Williams, on Closing is less than 25% of the market capitalization of the Company.

All Au Equivalent calculations were performed using $1,650/oz gold, and $22/oz silver in line with the Company’s Maverick Springs 43-101 resource estimate (see news release January 31st, 2022, available on SEDAR).

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a “qualified person” as defined by National Instrument 43-101.

About Element79 Gold

Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the well-known gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a technical report, pit-constrained mineral resource estimate reflecting an Inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Feb. 4, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out. In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Peru, Element79 Gold holds 100% interest in the past producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, as well as the past producing Machacala Mine, subject to the royalties and encumbrances detailed in the Agreement. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township. For more information about the Company, please visit www.element79.gold or www.element79gold.com

Contact Information

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer
E-mail: jt@element79gold.com

For investor relations inquiries, please contact:

Investor Relations Department
Phone: +1 (604) 200-3608
E-mail: investors@element79gold.com

Monday, June 27, 2022

Aurania Resources (AUIAF)
Technical Report Planned for Core Concessions Renewed in Peru

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

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

Renewal of concessions in Peru. In aggregate, 130 concessions were renewed covering an area of 128,700 hectares. Thirty of these concessions did not require payment in 2022 and the total cost for the other 100 concessions was US$296,000. The concessions renewed represent a majority of those that had been previously granted to Aurania and are those identified with the most significant geological potential.

Initial technical report. Management contemplates a modest amount of field work in the coming months to prepare an initial technical report to support further work and/or a possible corporate transaction. A technical report would be required in advance of any potential corporate transaction….

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 Announces Voting Results of Annual General and Special Meeting

Research, News, and Market Data on Maple Gold Mines

Vancouver, British Columbia–(Newsfile Corp. – June 24, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF)
(FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce the voting results at its Annual General and Special Meeting of shareholders held on Friday, June 24, 2022 (the “Meeting“).

The Company’s shareholders voted in favour of all matters brought before the Meeting, at which a total of 157,067,753 common shares were represented in person or by proxy, representing 46.8% of the Company’s issued and outstanding common shares. All director nominees set out in the Management Information Circular dated May 16, 2022 were elected as directors to serve until the next meeting of shareholders of the Company. Details of voting are as follows:

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Michelle Roth	110,433,268	81.77%	24,624,291	18.23%
B. Matthew Hornor	120,380,290	89.13%	14,577,269	10.87%
Sean Charland	103,012,749	76.27%	32,044,810	23.73%
Dr. Gérald Riverin	110,252,342	81.62%	24,805,217	18.37%
Maurice A. Tagami	105,145,793	77.85%	29,911,767	22.15%

 

At the Meeting, the shareholders of the Company also approved:

• The re-appointment of Deloitte LLP as the auditor of the Company for the ensuing year and authorized the directors to fix their remuneration; and
• The Company’s Amended and Restated Equity Incentive Plan as described in the information circular dated May 16, 2022.

Details of votes on all matters of business considered at the Meeting are available in the Company’s report of voting results on SEDAR (www.sedar.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 Quebec’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

Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: 
kpatankar@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.

Element79 Gold Announces $2MM Private Placement and Shares for Debt Conversion

News and Market Data on Element79 Gold

VANCOUVER, BC /
ACCESSWIRE / June 23, 2022 / Element79 Gold Corp. (CSE:ELEM)(OTC
PINK:ELMGF)(FSE:7YS) (“Element79 Gold”, or the “Company“) is pleased to announce today a non-brokered private placement (“Private
Placement“) of up to 4,000,000 units of the Company (each, a “Unit“) at a price of CAD$0.50 per Unit for anticipated gross proceeds up to CAD$2,000,000.

 

Each Unit will be comprised of one common share of the Company (a “Share“) and one non-transferrable common share purchase warrant (a “Warrant“). Each warrant is exercisable into one common share at a price of CAD$1.00 per share for a period of twenty-four months from the date of issuance, subject to acceleration 
(10-day VWAP above CAD $1.20, 30 days to settle). All securities issued pursuant to the Private Placement are subject to a statutory hold period expiring 4 months and one day from the date of issuance. Element79 Gold intends to use the net proceeds of the Private Placement to further operations and exploration initiatives in Nevada, as well as the Peruvian portfolio the Company plans to acquire through Calipuy Resources Inc. (news release dated June 20, 2022, available here), to make property payments, and for general and administrative purposes. Finders fees and commission may be payable in connection with the Private Placement.

Element79 Gold CEO James Tworek commented on this recent announcement stating, “This is the first formal capital raise for the Company since our IPO and we are excited about all of the progress we have made in the past 10 months, and our prospects for growth with our Nevada and Peruvian portfolios. Completing this raise will provide us with the funds to move efforts forward with our Flagship Maverick Springs as well as drilling, exploration and planning with the Lucero and Machacala.”

The Company further announces that it has entered into Debt Settlement Agreements (the “Debt Agreements”) with certain arms-length creditors (the “Creditors”) for the settlement of a total of $304,569 debt in respective debts for professional and consulting services provided by the Creditors to the Company. In settlement and full satisfaction of the debt in the amount of $222,194 the Company will issue 435,674 common shares (the ‘Shares“) at a deemed price of $0.51 per Share. In settlement and full satisfaction of the debt in the amount of $42,375, the Company will issue 69,420 Shares at a deemed price of $0.60 per Share, in full satisfaction of $35,000 the Company will issue 64,815 shares at a deemed price of $0.54, and will settle $5,000 through the issuance of 10,000 Shares at a deemed price of $0.50 per Share. Total aggregate number of common shares to be issued pursuant to the Debt Agreements is 579,908.

The issuance of the Shares to the Creditors is subject to the approval of the Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: 
jt@element79gold.com

For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1 (604) 200-3608
E-mail: 
investors@element79gold.com

About Element79 Gold

Element79 Gold is a mining company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project (“Maverick Springs”) between the Elko and White Pine Counties in Nevada, USA and recently completed an 43-101-compliant, pit-constrained mineral resource estimate (MRE) on the flagship Maverick Springs project located in the famous gold mining district of northeastern Nevada. The acquisition of Maverick Springs also included a portfolio of 15 properties along the Battle Mountain trend in Nevada and is completing analysis on these properties for further merit of exploration, along with the potential for sale or spin-out. The Company has recently entered into a definitive agreement to acquire two previously-producing high-grade Au-Ag mines in Peru. The Company’s management, exploration and operations teams have completed their due diligence trip to Peru to review these assets and establish its in-country Operations team. In British Columbia, the Company has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.

Cautionary Note
Regarding Forward Looking Statements

This press contains “forward?looking information” and “forward-looking statements” under applicable securities laws (collectively, “forward?looking statements”). These statements relate to future events or the Company’s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Private Placement, the closing thereof, and the proposed use of proceeds of the Private Placement; the closing of the acquisition of the Peruvian properties; the Company’s plans for exploration and development of its mineral properties; the Company’s business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward?looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward?looking statements”.

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: that the parties may not be able to complete the Private Placement as expected or at all, that that the proceeds of the Private Placement may not be spent as stated herein; that the acquisition of the Peruvian properties may not be completed, at all or on the terms announced; risks related to doing business in foreign jurisdictions; the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company’s other public disclosure documents, available on www.sedar.com. Although the Company 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. The Company believes that the expectations reflected in these forward?looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward?looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

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

SOURCE: Element79 Gold Corp.

Encore Energy Announces Results Of 2022 Annual General Meeting

ENCORE ENERGY ANNOUNCES RESULTS OF 2022 ANNUAL GENERAL MEETING News Release , TSX.V: EU, OTCQB:ENCUF, June 23, 2022, www.encoreuranium.com , Corpus Christi, Texas – June 23, 2022: enCore Energy Corp. (“enCore” or the “Company”) (TSXV:EU, OTCQB:ENCUF) announced today the results from the 2022 Annual General Meeting of Shareholders held on June 22nd, 2022. A total of 92,710,149 of common shares were voted in connection with the meeting, representing approximately 28.9% of the issued and outstanding common shares of the company. Shareholders approved all motions including the re-election of directors as follows: William M. Sheriff, William B. Harris, Mark S. Pelizza, Richard M. Cherry, Dennis E. Stover, W. Paul Goranson, Nathan A. Tewalt. Shareholders also approved the appointment of auditors and the Company’s stock option plan.   Following the vote, the Board approved Nathan Tewalt’s resignation from the Board of Directors and approved the re-appointment of Susan Hoxie-Key as a director of the Board, all effective immediately. Mr. Tewalt will continue to serve the Company as the Chair of the Technical Advisory Committee.   About enCore Energy Corp. enCore Energy is rapidly advancing towards becoming the next producer of American uranium. With approximately 90 million pounds of U3O8 estimated in the measured and indicated categories and 9 million pounds of U3O8 estimated in the inferred category1, enCore is the most diversified in-situ recovery uranium development company in the United States. enCore is focused on becoming the next uranium producer from its licensed and past-producing South Texas Rosita Processing Plant by 2023. The South Dakota-based Dewey Burdock and Wyoming Gas Hills projects offer mid-term production opportunities with significant New Mexico uranium resource endowments providing long-term opportunities. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle.   1 Mineral resource estimates are based on technical reports prepared in accordance with NI43-101 and available on SEDAR as well as company websites at www.encoreuranium.com.   For further information please contact: William M. Sheriff Executive Chairman 972-333-2214 info@encoreuranium.com www.encoreuranium.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 RELEASE.   CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the intended use of the net proceeds of the Offering and the completion of any capital project or property acquisitions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access additional capital; the ability of enCore to implement its business strategies; and other risks. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Our mailing address is: enCore Energy Corp 101 N Shoreline Blvd Ste 450 Corpus Christi, TX 78401

Element79 Gold Announces 2022 AGM Results

Chakana Closes Second Tranche Of Private Placement And Provides Update

Research, News, and Market Data on Chakana Copper

Vancouver, B.C., June 22, 2022
– Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FWB: 1ZX) (the “Company” or “Chakana”) is pleased to announce that it has completed a second and final tranche of its previously announced private placement (the “Private
Placement”) for 10,470,451 units of the Company (“Units”) at a price of C$0.11 per Unit for gross proceeds of C$1,151,749.  Combined with the first tranche that closed in May (see news release dated May 24, 2022), the financing resulted in total gross proceeds of $6,241,353.

Each Unit consists of one common share in the capital of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant entitles the holder to purchase one additional Share at a price of $0.20 per Share for a period of two years from closing of the Private Placement. The Company may accelerate the expiry of the Warrants in the event that for any ten consecutive trading days the closing price of the Shares is greater than $0.30.

David Kelley, President and CEO commented, “We are excited to be fully financed as we execute an aggressive exploration drilling campaign that began June 15, 2022. This is a bold step-out exploration program applying what we have learned in the last 4 years and utilizing the expertise and support from the Gold Fields exploration team. We have updated our target ranking criteria to include the potential to discover larger tonnage deposits. In addition to high-grade mineralization hosted in tourmaline breccia pipes, we will also be testing targets related to the potential coalescence of breccia pipes (mega-breccias), epithermal mineralization in zones of pervasive argillic alteration, and mineralization related to a rhyodacite dome. We believe these mineralization styles are all part of the same Soledad mineral system that occupies a 12 km2 footprint.”

The Company intends to use the net proceeds of the Private Placement for exploration and development of the Company’s high-grade copper-gold-silver discovery at the Soledad Project, located in the Ancash region of Peru, and for ESG programs, general working capital and administrative purposes. On January 11, 2022, the Company announced aninitial inferred resource hosting
191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds
of copper in seven tourmaline breccia pipes.

Chakana paid aggregate finder’s fees of C$56,511 and issued 513,736 finder’s warrants (the “Finder’s
Warrants”) in connection with the second tranche of the Private Placement.  Each Finder’s Warrant is exercisable to purchase one Share at a price of $0.20 per Share for a period of two years from closing of the Private Placement.

All securities issued under the Private Placement are subject to a four-month hold period expiring on October 22, 2022 in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. Final closing of the Private Placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

The common shares have not been registered under the United States 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 requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy such securities in any jurisdiction in which such an offer or sale would be unlawful.

Corporate
Update

Pursuant to the extension agreement and revised payment terms for the Company’s purchase option agreement with Condor Resources, the Company has elected to proceed with the second option which requires cash and share payments to be made over a three-year period, as described in more detail in the Company’s news release dated April 18, 2022. Accordingly, the Company will pay Condor US$800,000 and issue 1,379,310 shares prior to June 23, 2022.

Exploration
Update

The company initiated a step-out exploration drilling campaign on June 15, 2022 to test thirteen new targets not previously drilled on the north side of the project. The campaign is initially planned with one drill rig for approximately 3,000m of core drilling with one or two holes in each target. Once these targets have been drilled, a decision will be made regarding both additional target testing and follow-up drilling. These thirteen targets were selected from a total of 154 targets identified on the project that were prioritized during an in-house technical workshop incorporating recently acquired Offset IP survey results. The principal target areas for this round of drilling on the north side of the project are 1) Cima Blanca (in-progress), 2) Bx 4 cluster, 3) Faro, 4) Western Breccias, 5) Paloma Trend, and 6) Paloma-Huancarama megabreccia target (Figure 1). Numerous additional high priority targets exist on the south side of the project that will be drill tested once a drill permit is awarded for this area.

About
Chakana Copper Corp

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. An initial inferred resource estimate for seven breccia pipes was announced in Q1 2022 (see news release dated February 23, 2022), with 6.73 Mt containing 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper. In addition, extensive multidisciplinary exploration has defined 154 exploration targets, 18 of which have been tested to date (12%), confirming that Soledad is a large, well-endowed mineral system with strong exploration upside.  Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to copper and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

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

ON
BEHALF OF THE BOARD

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

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

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

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

Figure 1 – Map showing total defined targets for the Soledad project by type. Principal target clusters on the north side of the project being tested in the current exploration drilling program are Cima Blanca, Bx 4, Faro, Western Breccias, Paloma-Huancarama trends. Target clusters on the south side will be drill tested once the drill permit is approved for this area.   

Wednesday, June 22, 2022

Cypress Development (CYDVF)
Hitting Major Milestones

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

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

Direct lithium extraction working well. Cypress announced favorable results from the direct lithium extraction (DLE) portion of its pilot plant in Nevada. Lithium extraction begins in the pilot plant with acid leaching a slurry of lithium-bearing claystone. Recoveries in the pilot plant are meeting expectations with lithium extraction from claystone in the 80% to 85% range. The lithium solution from leaching undergoes several steps before entering the DLE process. Within the DLE portion of the pilot plant, assays received from samples collected during continuous operating cycles in March, April, and May 2022 revealed an average lithium recovery of 99.5%, along with over 99% rejection of major impurities. In our view, these results affirm the commercial viability of extracting lithium from Nevada claystone.

Technology license acquired. The direct lithium extraction process is one function of the pilot plant using a proprietary process and equipment acquired from Chemionex, Inc. With the release of one million Cypress shares held in escrow to Chemionex, Cypress has now acquired full ownership of the equipment and a royalty-free license in perpetuity to use the technology at its pilot plant and at the company’s Clayton Valley lithium project….

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, June 22, 2022

Allegiant Gold (AUXXF)
Core Drilling Begins in the High-Grade Zone

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven 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.

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

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

Core diamond drill program begins. Allegiant Gold commenced a diamond core drilling program at Eastside and expects to drill 7 to 9 diamond core holes with an average depth of 600 meters. The hole locations and design were jointly selected by Allegiant and the exploration team at Kinross. The core holes will be in the high-grade zone discovered during the 2021 drill program within the original pit zone.

Assessing Eastside’s high-grade potential. Recall that in May 2021, results from Allegiant’s nine-hole drill program returned strong gold intercepts for Holes 239, 243, 244, and 245. With the recent investment by Kinross Gold Corporation (NYSE: KGC, TSX: K), along with its technical advisory support, deeper core drilling will help to better assess Eastside’s high-grade potential….

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. 

Allegiant Commences Core Drilling Program at Eastside

Research, News, and Market Data on Allegiant Gold

Reno, Nevada /June 21, 2022 – Allegiant Gold Ltd. (“Allegiant”
or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of our diamond core drilling program (“Core”) at Eastside which will consist of 4,000+ metres.  In addition, the Company has recently completed the previously announced 6,700 metre reverse-circulation (“RC”) drilling program at Eastside.

Commencement of Diamond Core Drill Program
Allegiant expects to drill 7-9 diamond core holes in this program with an average depth of 600 metres for a total of 4,000-5,000 metres. The hole locations and design were jointly selected together with the exploration team at Kinross.  The Core holes will be located in the High Grade Zone (“HGZ”) discovered during 2021 drill program completed within the Original Pit Zone (“OPZ”) at Eastside that yielded the following results:
 

• Hole 243 included 2.55 g/t Au over 147.8 metres (3.17 g/t
  Au over 117.3m)  
• Hole 239 included 111.3m of 1.45 g/t Au including 3.1
  metres of 39 g/t  Au at the bottom of the hole.
• Hole 244 included 76 metres of mineralization with best intercept being 6.1m
  of 1.48 g/t Au

Hole 245 included 15.2 metres of 3.4 g/t Au from relatively shallow depths (177m)
 

MAP 1: DRILL TARGETS
https://allegiantgold.com/site/assets/files/2209/auau_eastside_2021-2022_drill_holes.jpg

 

Completion of RC Program at Eastside
In June 2022, Allegiant completed a 32-hole, 6,703 metre drill program designed to test new exploration targets at Eastside focusing on the East Pediment (21 holes) and the West Anomaly (11 holes).  The targets lie to the east and west of the OPZ and were based on geophysical and geochemical anomalies.  Drilling was conducted by Boart Longyear using a Foremost MPD 1500, track-mounted rig.  Given the current high demand for assays in the Western U.S., the Company is still awaiting the results from this program, but they will be released upon receipt and evaluation.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are excited to have started our much-anticipated diamond core drilling to follow up on our successful drill program last year that led to the discovery of the HGZ.  We also look forward to the results of our recently completed RC drill program and have tentatively scheduled the return of our RC rig for October 2022 in order to continue drilling additional targets based on assays.  Together with the Core program, we would expect to be drilling for the remainder of this year.” 

 

QUALIFIED PERSON
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release. 

ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven 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

Allegiant Gold Ltd.’s (“Allegiant”) exploration plans for its gold
exploration properties, the drill program at Allegiant’s Eastside project, the
preparation and publication of an updated resource estimate in respect of the
Original Zone at the Eastside project, Allegiant’s future exploration and
development plans, including anticipated costs and timing thereof; Allegiant’s
plans for growth through exploration activities, acquisitions or otherwise; and
expectations regarding future maintenance and capital expenditures, and working
capital requirements.  Forward-looking statements are statements and
information regarding possible events, conditions or results of operations that
are based upon assumptions about future economic conditions and courses of
action. All statements and information other than statements of historical fact
may be forward-looking statements. In some cases, forward-looking statements
can be identified by the use of words such as “seek”, “expect”, “anticipate”,
“budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”,
“predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and
similar words or phrases (including negative variations) suggesting future
outcomes or statements regarding an outlook.  Such forward-looking
statements are based on a number of material factors and assumptions and
involve known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements, or industry results, to
differ materially from those anticipated in such forward-looking information.
You are cautioned not to place undue reliance on forward-looking statements
contained in this press release. Some of the known risks and other factors
which could cause actual results to differ materially from those expressed in
the forward-looking statements are described in the sections entitled “Risk
Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with
the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at
www.sedar.com.  Actual results and future events could differ materially
from those anticipated in such statements. Allegiant undertakes no obligation
to update or revise any forward-looking statements included in this press
release if these beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable law. Certain statements
and information contained in this press release constitute
“forward-looking statements” within the meaning of applicable U.S.
securities laws and “forward-looking information” within the meaning of
applicable Canadian securities laws, which are referred to collectively as
“forward-looking statements”. The United States Private Securities
Litigation Reform Act of 1995 provides a “safe harbor” for certain
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.

 

Cypress Development Announces Positive Direct Lithium Extraction Results

Research, News, and Market Data on Cypress Development

June 21, 2022 –
Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: 
CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to announce positive results from the Direct Lithium Extraction (“DLE”) portion of its Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada. Assays received from samples collected during continuous operating cycles in March, April, and May, 2022, revealed an average lithium recovery of 99.5% within the DLE portion of the Pilot Plant. These high lithium recoveries were accompanied with high levels of impurity rejection.

“We are very pleased with the DLE results from the Pilot Plant” said Bill Willoughby, Cypress President, and CEO. “Thanks to Chemionex, vendors of the DLE process, and the work of our team, the results are consistent over time and sufficient to give Cypress confidence in this part of our overall process. The information gained from the testing along with the license to the technology are important steps for Cypress and the ongoing Feasibility Study.”

The DLE area is one part in the Pilot Plant and consists of a proprietary process and equipment acquired from Chemionex, Inc. Overall, lithium extraction begins in the Pilot Plant with acid leaching a slurry of lithium-bearing claystone. The lithium solution obtained from leaching then passes through several steps before entering the DLE process. In continuous 24-hour-per-day tests from the end of March through mid-May 2022, lithium recoveries in the DLE portion were consistently above 99%. These high lithium recoveries were observed in 76 sets of feed and discharge samples. The samples were collected at 6-hour intervals over the operating periods and were assayed at ALS Global for lithium and other elements. Rejection of major cations, calcium and magnesium, during the period was also above 99%.

Based on these results, Cypress’ Board of Directors has authorized the release of one million Cypress shares being held in escrow to Chemionex, thereby satisfying the terms of its July 5, 2021, Share Purchase and License Agreement. With the completion of the purchase agreement, Cypress acquires full ownership of the equipment and a royalty-free license in perpetuity to use the Chemionex technology at its Pilot Plant and at the Company’s Clayton Valley Lithium Project. The shares released are subject to the policies of the TSX Venture Exchange.

Qualified Person

Todd Fayram, MMSA-QP, is the qualified persons as defined by National Instrument 43-101 and have approved of the technical information in this release.

About Cypress Development
Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a feasibility study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS
DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information,
please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding
Forward-Looking Statements

This release includes
certain statements that may be deemed to be “forward-looking
statements”. Forward-looking statements are subject to risks,
uncertainties and assumptions and are identified by words such as “expects,” “estimates,”
“projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar
words. All statements in this release, other than statements of historical
facts, that address events or developments that management of the Company
expects, are forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from
those in the forward-looking statements. 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 actual
results to differ materially from those in forward-looking statements, include
market prices, exploration, and development successes, continued availability
of capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for
further information.

Noble Capital Markets Senior Research Analyst Mark Reichman sits down with Maple Gold Mines (MGMLF)(MGM.V) President & CEO Matthew Hornor Research, News, and Advanced Market Data on MGMLF View all C-Suite Interviews The 2022 C-Suite Interview series is now available on major podcast platforms 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 Quebec’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.