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.

Bunker Hill Announces Appointment Of General Manager And Secures Mining Contractor

News and Market Data on Bunker Hill Mining

Bunker Hill Announces $15 Million Convertible Debt Financing Bunker Hill to Host Live Interactive 6ix Summit on Wednesday, June 22 @ 2:00pm ET / 11:00am PT TORONTO, June 20, 2022 – Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR; OTCQB: BHLL) is pleased to announce the execution and closing of a new $15 million convertible debenture financing (the “Series 2 Convertible Debentures”) with Sprott Private Resources Streaming & Royalty Corp. (“SRSR” or “Sprott”).  All figures in this news release are in US dollars unless otherwise stated. Sam Ash, CEO, stated “We are very pleased to announce this new $15 million financing, representing an increase in our project finance package with Sprott to $66 million.  Together with our recent equity raise, this materially improves our working capital position, enables us to meet our financial assurance obligations with the EPA, and funds several key workstreams over the coming months including completion of the underground decline, demobilization of the Pend Oreille mill, and further engineering optimization in preparation for the mine restart.” Investors are invited to register for the live interactive 6ix Summit at:  CONVERTIBLE DEBENTURE FINANCING The Series 2 Convertible Debentures bear interest at an annual rate of 10.5%, payable in cash or shares at the Company’s option, and mature on March 31, 2025.  Repayments of $2 million shall be made at the end of each calendar quarter, starting on 30 June 2024, with the remaining $9 million due on March 31, 2025.  The Series 2 Convertible Debentures are convertible into shares of the Company at a share price of CAD 0.29 per share until the maturity date.  The Company may elect to re-pay the Convertible Debenture early; if SRSR elects not to exercise its conversion option at such time, a minimum of 12 months of interest would apply.  The Series 2 Convertible Debentures will be secured by the same security package that has been put in place to secure the $8 million Royalty Convertible Debenture and the aggregate $6 million Convertible Debentures (the “Series 1 Convertible Debentures”) that closed in January 2022. The parties have also agreed to a number of changes to the previously announced project finance package of up to $51 million (of which $14 million has been advanced to date), consisting of the Royalty Convertible Debenture, Series 1 Convertible Debentures, and the Stream.  Firstly, the maturity dates of the Royalty Convertible Debenture and Series 1 Convertible Debentures have been extended to March 31, 2025 (previously July 7, 2023).  As previously envisaged, the Royalty Convertible Debenture will convert to a 1.85% life of mine royalty or be repaid when the Stream is advanced.  However, in the event of conversion, the Company will enter into a Royalty Put Option entitling the royalty holder to resell the royalty to the Company for $8 million upon default under the Series 1 Convertible Debentures or Series 2 Convertible Debentures until such time that the Series 1 Convertible Debentures and Series 2 Convertible Debentures are paid in full.  The Series 1 Convertible Debentures will remain outstanding until March 31, 2025, regardless of whether the Stream is advanced, unless the Company elects to exercise its option of early repayment.  Lastly, the minimum quantity of metal delivered under the Stream, if advanced, will increase by 10% relative to amounts announced in the news release of December 20, 2021. In light of the Series 2 Convertible Debenture financing, the previously permitted additional senior secured indebtedness of up to $15 million for project finance has been removed.  However, the Company and Sprott have agreed that the Company is permitted to sell an additional $5 million of the Series 2 Convertible Debentures to other investors until August 1, 2022. The net proceeds of the financing will be primarily used to satisfy the Company’s financial assurance obligations with the US Environmental Protection Agency (“EPA”) and the advancement of mine restart activities, including the completion of the underground decline, demobilization of the Pend Oreille mill, and advancement of EPCM activities in anticipation of mill construction in the fourth quarter of 2022. NEXT STEPS Additional optimization opportunities have been identified as technical work on the Prefeasibility Study (“PFS”) has advanced.  In order to incorporate these into the PFS, technical work is continuing and the PFS is now expected to be completed later in the third quarter of 2022.  The advancement of the Stream is also expected to take place at approximately that time.  While this additional technical work is in progress, development drifting will continue with an expected breakthrough into the internal ramp between the 6 and 8 levels to occur in September 2022.  Relocation of the Pend Oreille Mill will continue throughout the summer with a key milestone being the disassembly and transport of the primary ball mills in August. RELATED PARTY TRANSACTIONS The financing transactions described in this press release (the “Transactions”) constitute related party transactions pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).  In consideration of the financial circumstances of the Company and a determination by the directors, all of whom are considered independent as determined pursuant to Part 7 of MI 61-101, the Company intends to rely upon the “financial hardship” exemptions from the requirements to obtain a formal valuation and minority shareholder approval in Sections 5.5(g) and 5.7(e) of MI 61-101 respectively.  The Company will also file a material change report on SEDAR (www.sedar.com).  The material change report will be filed less than 21 days prior to the closing of the Transactions due to the Company’s immediate need for financing. ABOUT BUNKER HILL MINING CORP. Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver.  Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases. For additional information contact: David Wiens, CFA CFO & Corporate Secretary +1 208 370 3665 ir@bunkerhillmining.com CAUTIONARY STATEMENTS Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding: its objectives, goals or future plans and statements; closing the Stream as described herein with SRSR; the financing package with SRSR being sufficient for the purposes described herein; the Company’s ability to secure additional financing, whether dilutive or non-dilutive; the Company’s ability to progress detailed engineering of the Bunker Hill Mine; the Company’s ability to complete the underground decline, the demobilization of the Pend Oreille mill, and further engineering optimization in preparation for the mine restart; the Company’s ability to restart production at the Bunker Hill Mine; and the completion of a pre-feasibility study and the timing thereof. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the Company’s ability to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments to the U.S. EPA pursuant to the terms of the agreement to acquire the Bunker Hill Mine; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; the cost, timing and ability to implement ESG initiatives which may not be technically successful or economically viable;  and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.  No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Contact Info: Bunker Hill Mining Corp. 82 Richmond St East Toronto, Ontario M5C 1P1 +1.519.871.3998

Tuesday, June 21, 2022

Maple Gold Mines (MGMLF)
Eagle Phase I Drill Results Speak for Themselves; Phase II Drilling Underway

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

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

Outstanding Eagle Phase I drill results. Maple Gold reported assay results from the company’s Phase I drill program at its 100%-controlled Eagle Mine Property in Quebec, Canada. The Phase I program consisted of eight diamond drill holes, representing 4,462 meters of drilling, that tested potential extensions of mineralization along the past-producing Eagle-Telbel Mine Trend. A majority of Phase I drill holes contained at least one interval with greater than 1 gram of gold per tonne, with Hole EM-22-005 intersecting 4.0 grams of gold per tonne over 7.5 meters, including 6.4 grams of gold per tonne over 3.0 meters.

Phase II drilling underway. Data collected from the Phase I drilling is guiding the ~4,000 meter Phase II drilling program which is testing the Eagle-Telbel Mine Trend at greater depths. In aggregate, management expects to reach its goal of twelve drill holes, representing 8,200 meters of drilling, by the end of the quarter….

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. 

Tuesday, June 21, 2022

Element79 Gold Corp. (ELMGF)
Definitive Agreement to Acquire Peruvian Gold Portfolio

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 famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a 43-101-compliant, 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 has signed a letter of intent to acquire the business and assets of Calipuy Resources Inc., which 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. 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.

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

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

Definitive agreement to acquire Calipuy Resources. As anticipated, Element79 Gold Corp. executed a definitive agreement to purchase the issued and outstanding common shares of Calipuy Resources Inc. for consideration value of US$15 million. Through its subsidiaries, Calipuy holds a 100% interest in two past producing high-grade gold-silver mines in Peru, the Lucero and Machacala mines. Closing is subject to various conditions, including third-party approvals and other customary conditions.

Terms of the agreement. Upon closing, the US$15 million purchase price for the shares of Calipuy will be paid by the issuance on a pro rata basis to the shareholders of Calipuy: 1) a total of 19,165,486 common shares of the company at an issue price of CAD$1.00 per consideration share, and 2) performance bonus warrants to acquire an aggregate of 3,833,085 common shares of Element79 Gold. Issuance of consideration shares will be paid in CAD denominated shares at the agreed exchange rate of CAD$1.2777 to USD$1.00. Each performance bonus warrant is exercisable into one common share of Element79 at an exercise price of CAD$2.00 per share for a period of three years from the exercise eligibility date. Holders of the performance bonus warrants may not exercise the 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 ounces of gold within a 30-day production period. …

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. 

Friday, June 17, 2022

Allegiant Gold (AUXXF)
Keeping an Eye Out for the Next Update

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.

Drilling through the remainder of the year. In April, Allegiant Gold commenced its 14,000-meter drilling program at Eastside. We expect two rigs to be in operation at Eastside through the remainder of the year. 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. We might expect the company to provide an update soon.

Updating estimates. We have updated our estimates and forecast a 2022 net loss per share of C$(0.02) compared to our prior estimate of C$(0.01). Our revised estimate reflects greater expenses associated with investor relations, professional fees, and non-cash share-based payments….

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. 

Cypress Development Progress on Feasibility Study

Research, News, and Market Data on Cypress Development

June 15, 2022 –
Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (
OTCQX: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to provide an update on the progress of the ongoing Feasibility Study for the Company’s Clayton Valley Lithium Project, in Nevada, USA. The Feasibility Study is under the direction of Wood PLC (“Wood”) and Global Resource Engineering (“GRE”) and all related work is proceeding well, and it remains on track for completion in late 2022.

Activity Highlights:

• Geotechnical study in progress
• Continued operation of the Pilot Plant
• 500-ton bulk sample collected for further metallurgical material
• Sonic drill program completed consisting of 580 meters in eight drill holes
• Resource model updated with data from recently acquired property

Geotechnical Program

Wood personnel conducted on-site visits in supervising the collection of geotechnical data for the foundation design of the Company’s processing plant site and tailings storage facility. The samples collected for Wood’s geotechnical program were shipped to materials testing laboratories, and additional on-site work is planned in the next month.

GRE personnel conducted site visits in preparation to work on the Project’s resources and reserves. GRE personnel supervised the collection of a suite of large-diameter core samples for assay and geotechnical testing, which will provide further information for GRE’s work on the mine design.

Lithium Extraction
Facility (“Pilot Plant”)

Testing continues at Cypress’ Pilot Plant in Amargosa Valley, 100 miles southeast of the Clayton Valley Lithium Project site. The Pilot Plant is now working in its 12^th cycle of continuous 24-hr per day testing. The tests are ongoing to examine efficiencies in processing, testing various configurations in equipment and operating conditions, and the plant continues to produce concentrated lithium solutions for use in downstream product testing.

Wood’s process engineering team is working with Continental Metallurgical Services and the data from the Pilot Plant, to develop mass balance and equipment sizing. Wood’s engineers are also working on the overall project infrastructure, including selection and design of access roads, plant equipment, power, and water supplies.

Bulk Sample

To support continued testing, a 500-tonne sample of claystone was excavated in late April from an engineered test-pit and transported to the Company’s operations headquarters at the Tonopah airport, where it will be crushed, screened, and bagged in preparation for treatment at the Company’s Pilot Plant. The sample was collected near DCH-1, and in the vicinity of the planned starter-pit for mining in the Feasibility Study.

“We are pleased with the bulk sampling work. The size of the bulk sample may be larger than necessary for the Pilot Plant to provide adequate information for the Feasibility Study” said President and CEO Bill Willoughby. “This sample, however, allows us to examine lithium grade and other properties in the claystone over a larger volume. It also ensures we have material on hand, should we need it, for future tests or continued operations.”

Sonic Drill Program

Cypress is continuing to log and sample core from a sonic drill program which commenced and was completed in May. The purpose of the drill program was to obtain large-diameter (6-inch) continuous core. Eight locations were selected for metallurgical, geotechnical, lithological purposes. Each hole yielded 1.9 to 2.3 tonnes of claystone which will be used in metallurgical testing at the Company’s Pilot Plant to examine if there are any variations in performance due to depth, location, or material type in the deposit.

Four of the holes (CSV-1 through CVS-4) were completed in the central portion of the project in the vicinity of the proposed starter-pit and the 500-tonne bulk sample.  Four other holes (CVS-5 through CVS-8) were completed in the northeast portion of the project on and near the parcel of property recently acquired from Enertopia Corporation (“Enertopia”). In addition to providing metallurgical sample material, these latter four holes will provide confirmation of the data from Enertopia’s previous drilling.

“The drilling program proceeded better than expected and was very successful in this first application of sonic drilling in Clayton Valley” stated Daniel Kalmbach, Cypress Manager, Geology and QP. “The quality of the large-diameter core samples are excellent and will provide further valuable data for the Feasibility Study.”

Resource Model

The recent addition of land acquired from Enertopia (see news release dated May 5, 2022) resulted in the addition of five core holes which were drilled by Enertopia in 2018. This property comprises 17 unpatented mining claims totaling 160 contiguous acres immediately adjacent to Cypress’s Project. A March 2020 NI 43-101 compliant technical report (published by Enertopia) on the property shows an Indicated resource of 82 million tonnes (mt) of 1,121 parts per million (ppm) Li and an Inferred resource of 18 mt of 1,131 ppm Li using a cutoff grade of 400 ppm Li. Cypress has not independently confirmed the resource indicated in the March 2020 NI 43-101 report.

All data received from the property acquisition has been incorporated into the project database and is expected to be used by GRE to generate the resource and reserve estimates and develop the mine plan for the Feasibility Study

Qualified Person

Daniel Kalmbach, CPG, 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.

 

Sierra Metals Announces Appointment of New Chair & Addition to the Board

Research, News, and Market Data on Sierra Metals

TORONTO–(BUSINESS WIRE)– Sierra
Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to announce that Oscar Cabrera has been appointed as Chair of the Board of Directors of the Company (the “Board”). Mr. Cabrera joined the Board in October 2021 and replaces Mr. Jose Vizquerra as Chair.

Additionally, the Board appointed Miguel Aramburu as its newest member. Mr. Aramburu has over 25 years of professional experience with 15 years dedicated to the mining sector, currently serving on the Board of STRACON S.A.C, a mining contractor, and Minsur S.A., a Perú based mining company.

“We welcome Miguel to the Sierra Metals Board. His senior leadership at large Peruvian mining operations as well as his significant board experience will provide important insight as a member of our Board. The strong combination of expertise of our Board members will help strengthen the execution of the Company’s current initiatives, as well as provide guidance for its next phase of development and growth. We look forward to working together,” commented Luis Marchese, CEO.

Bios

Oscar Cabrera has over 20 years of experience as an equity analyst, covering the metals and mining industry for bulge bracket investment banks and Canadian financial institutions, including Goldman Sachs, Merrill Lynch Canada and CIBC World Markets. He obtained recognition for industry thought leadership, fundamental commodity analysis and strong industry relationships, which has led to advisory roles for public mining companies, including Nexa Resources S.A. He also participated in the vetting of and advising on primary and secondary offerings in Canada, the U.S. and Europe. Mr. Cabrera holds an MBA from York University, an M Eng. in Structural Engineering from the University of Toronto and a B. Sc in Civil Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey. Mr. Cabrera is a Canadian Citizen, originally from Mexico.

Miguel Aramburu currently serves on the Board of Directors of Stracon S.A.C., a mining contractor; Fibra Prime, a Peruvian REIT; Minsur S.A., a Peru-based mining and exploration company; and IEduca, an education conglomerate. He has previously held positions on the boards of Enfoca Investments, Andino Investment Holding, El Comercio, Neptunia, Fenix Power, GyM, Stracon GyM, Maestro Peru, Castrovirreyna and Pacifico Vida. Prior to committing himself to serving on corporate boards, Mr. Aramburu held the position of CEO (2008-2010) and COO (2006-2008) of Hochschild Mining Plc. In addition, he has held progressive positions with Mauricio Hochschild Y Cia, including CEO (2004-2006), CFO (2002-2004) and General Manager for various segments of operations (1995-2002). Mr. Aramburu holds an MBA from Stanford University and obtained his Industrial Engineering degree from Pontificia Universidad Católica del Peru.

About Sierra Metals

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.

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

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

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 16, 2022 for its fiscal year ended December 31, 2021 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220613005789/en/

Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Ed Guimaraes
CFO

Sierra Metals Inc.
+1(416) 366-7777

Luis Marchese
CEO

Sierra Metals Inc.
+1(416) 366-7777

Source: Sierra Metals Inc.

 

Tuesday, June 14, 2022

Cypress Development (CYDVF)
Keeping an Eye on the Next Big Test

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

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

Lithium from Nevada claystone. Cypress Development is advancing its 100%-owned Clayton Valley Lithium Project near Silver Peak, Nevada. Cypress intends to mine Nevada claystone, produce a high-grade lithium concentrate solution and apply a licensed lithium extraction process based on ion-exchange to produce lithium carbonate or lithium hydroxide. Clayton Valley could go into production as early as 2025, following the completion of a feasibility study by year-end 2022, a two-year permitting period which could begin mid-year 2022, and one-year construction period. We have assumed commercial production commences in 2026.

Testing the production of lithium products. Approximately 4,000 liters of concentrated lithium chloride solution have been delivered from the company’s pilot plant to two Canadian laboratories. Each laboratory will further treat the solutions, one to produce lithium carbonate, and the other to produce lithium hydroxide. The results, which are expected within the next 4 to 5 weeks, will be used to assess if additional steps are needed to attain battery-grade standards and evaluate alternatives for producing these products in the feasibility study. The goal is to eventually produce lithium carbonate and/or lithium hydroxide on site….

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. 

Cypress Development Delivers Solution From Pilot Plant For Testing Production Of Lithium Carbonate And Lithium Hydroxide

Research, News, and Market Data on Cypress Development

June 13, 2022 – Vancouver, Canada – Cypress Development
Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to report that the  Company’s Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada continues to operate successfully, reaching a milestone in the delivery of concentrated lithium solution to two laboratories in Canada for further testing in the production of lithium products.

“The Company is very pleased to have reached this significant milestone. About 4,000 liters of concentrated lithium chloride solution have been delivered from the Pilot Plant to two Canadian laboratories. Each laboratory is now working to further treat the solutions, one to produce lithium carbonate, and the other, lithium hydroxide, as the final end product,” commented Bill Willoughby, President and CEO of Cypress Development. “These results will then be used to determine what additional steps are needed, if any, to attain battery-grade standards and evaluate the alternatives for producing these products in the ongoing Feasibility Study.”

Pilot Plant

Cypress’ Lithium Extraction Facility in Amargosa Valley, Nevada marked its sixth month of operation with the completion of 11 separate continuous tests conducted on a 24-hour per day basis, over periods ranging from 3 to 14 days. Processing conditions and equipment arrangements in the areas of leaching, filtration, impurity removal, and the Direct Lithium Extraction (DLE) system during the testing periods have been varied to determine the effect of changes. The Pilot Plant will continue to operate during the summer with a work schedule of 7-days on, 5-days off.

“The Pilot Plant operates very well and requires minimal time for start-up,” stated Todd Fayram, President of Continental Metallurgical Services and Qualified Person who oversees process engineering and operations at the Pilot Plant. “For the most part we are using standard equipment with well-established methods in mineral processing. This allows us to efficiently examine changes and reconfigure the process as required.”

The Company is pleased with the progress and results to-date. Recoveries in the Pilot Plant remain as expected, with lithium extraction from claystone in the 80 to 85% range. Tailings testing has preliminarily identified characteristics that will allow for dry stacking with minimal water entrainment. The Pilot Plant is also focused on minimizing water usage and has operated successfully with an emphasis on 100% recycling of all process water streams within the facility.

Qualified Person

Todd Fayram, MMSA-QP is a Qualified Person as defined by National Instrument 43-101 and has 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.

Sierra Metals Announces Results of Annual General Meeting of Shareholders & Directorate Change

Research, News, and Market Data on Sierra Metals

TORONTO–(BUSINESS WIRE)– Sierra
Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) hereby announces the voting results from the Company’s Annual General Meeting of Shareholders held on Friday, June 10, 2022 (the “AGM”).

A total of 128,416,799 common shares were represented at the meeting, being 78.33% of the Company’s issued and outstanding shares. Shareholders voted in favour of the re-appointment of PricewaterhouseCoopers LLP as auditors for the ensuing year, and the election of management’s nominees as directors.

Detailed results of the votes on the election of directors are as follows:

Director	Votes For	Votes Withheld	Outcome of Vote
Oscar Cabrera	62,316,296 (58.80%)	43,665,198 (41.20%)	Approved
Douglas Cater	62,451,391 (58.93%)	43,530,103 (41.07%)	Approved
Carlos Santa Cruz	62,315,927 (58.80%)	43,665,567 (41.20%)	Approved
Luis Marchese	59,858,436 (56.48%)	46,123,058 (43.52%)	Approved
Robert Neal	62,320,575 (58.80%)	43,660,919 (41.20%)	Approved
Dawn Whittaker	62,498,388 (58.97%)	43,483,106 (41.03%)	Approved
Koko Yamamoto	62,489,360 (58.96%)	43,492,134 (41.04%)	Approved

At the AGM, the shareholders of the Company re-elected each of Oscar Cabrera, Douglas Cater, Carlos Santa Cruz, Luis Marchese, Dawn Whittaker and Koko Yamamoto to the board of directors of the Company (the “Board”). In addition to the re-election of the foregoing directors, the shareholders also elected Robert Neal to join the Board.

Jose Vizquerra, Steven Dean and Dionisio Romero did not stand for re-election at the AGM. Each have been long-standing members of the Board and have seen the Company through several expansions and growth initiatives. Jose joined in 2017 and served as Chair for the past year. Steven has served on the Board since October of 2011 and Dionisio has been a member of the Board since 2015.

“We would like to thank each of Jose, Steven and Dionisio for the valuable time and guidance they have provided to management during their respective tenures on the Board. Their commitment to helping define and execute the Company’s corporate strategic goals is greatly appreciated. We welcome Rob to the Sierra Metals board. His knowledge and experience in capital markets and corporate finance bring a valuable perspective to our board,” commented Luis Marchese, CEO.

About Sierra Metals

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.

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

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

Continue to Follow, Like and Watch our progress:

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220610005624/en/

Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Ed Guimaraes
CFO

Sierra Metals Inc.
+1(416) 366-7777

Luis Marchese
CEO

Sierra Metals Inc.
+1(416) 366-7777

Source: Sierra Metals Inc.

Chakana To Exhibit At The Prospectors & Developers Association Conference, Toronto

Research, News, and Market Data on Chakana Copper

Vancouver, B.C., June 10, 2022
– Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”) is pleased to announce that it will be exhibiting at the Prospectors & Developers Association Conference (“PDAC”) at the Metro Convention Centre, 222 Bremner Blvd., Toronto, Ontario June 13 to 15, 2022.

Investors, media, stakeholders and interested parties are invited to visit Chakana at booth number #3325 while at the PDAC.

About
Chakana Copper
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.

Qualified
Person
David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

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

 

Shareholders Approve All Resolutions at Aurania’s Annual and Special Meeting

Research, News, and Market Data on Aurania Resources

Toronto, Ontario, June 9, 2022 – Aurania Resources Ltd. (TSXV:
ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to announce that its shareholders have approved all resolutions at the Company’s Annual and Special Meeting (the “Meeting”) which was held on June 8, 2022.

At the Meeting, shareholders approved the financial statements for the year-ended December 31, 2021, and the report of the auditors thereon, the appointment of auditors, election of directors and the Company’s incentive stock option plan for the upcoming year.  Details of these matters are disclosed in the Management Information Circular for the Meeting dated April 28, 2022, and posted under the Company’s profile on www.sedar.com and on the Company’s corporate website 
http://www.aurania.com/investors/annual-general-meeting/.

The formal part of the Meeting was followed by a presentation and a brief question-and-answer period.  The webcast replay is available now and can be accessed until September 8, 2022, via the original webcast link. The audio-only replay will be available in the coming days and will be posted on Aurania’s website.  Forward-looking statements were made during the activities update and question-and-answer period.

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 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.

 

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Chakana Copper Provides Exploration Update and Resumes Drilling at the Soledad Project, Peru

Research, News, and Market Data on Chakana Copper

Soledad Project Highlights Include:

• Drilling campaign will test
  thirteen new targets on the north side of the Soledad project.
• The priority targets were
  selected from an inventory of 154 total targets defined after integrating
  results from recently completed geophysical surveys.
• Permitting on the south
  side of the project is advancing and will allow testing of additional high
  priority targets once approved.

Vancouver, British Columbia–(Newsfile Corp. – June 9, 2022) – Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF)
(FSE: 1ZX) (the “Company“ or “Chakana“), is pleased to confirm that drilling will start June 15, 2022 to test thirteen new targets not previously drilled on the north side of the project. 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 objective of the drill program is to test the exploration potential of numerous additional targets beyond the targets that have been drilled leading to the initial resource estimate for the project (see news release dated January 11, 2022).

“For 2022, our goal is to test
some of the best targets outside the current resource area to better understand
the upside potential of the Soledad project. Although we have numerous targets
defined on the project, these targets rank highly based on the multiple
datasets derived as a result of detailed mapping, rock and soil geochemistry,
geophysical surveys, detailed modeling of several well-mineralized targets, and
an improved understanding of the structural controls on the Soledad mineral
system,” stated President and CEO David Kelley.

Exploration Update and 2022 Drill
Program

A targeting workshop was recently held to review and update drill targets for the Soledad project. Since the original targeting workshop was held in 2019, several new data sets have been acquired over the entire 12 square kilometer area of the prospective Soledad mineral system. New data sets incorporated into the targeting include 1) detailed ground magnetics, 2) gradient array induced polarization, 3) offset (3D) induced polarization, 4) detailed mapping, and 5) hyperspectral alteration mineralogy studies.

Targets are categorized as breccias, vein-breccias, mineralized intrusions, and high sulfidation alteration zones, representing a continuum of mineralization styles related to an intrusive-driven mineral system that underlies the Soledad project (Figure 1). Drilling will begin on June 15, 2022 with one drill rig to test thirteen targets with approximately 3,000m of drill core 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.

The principal target areas for the next round of drilling on the north side of the project are 1) Cima Blanca, 2) Bx 4 cluster, 3) Faro, 4) Western Breccias, 5) Paloma Trend, and 6) Paloma-Huancarama megabreccia target (Figure 1). A number of targets exist in the Paloma Trend and Paloma-Huancarama area defined by outcropping tourmaline breccias, and Gradient Array IP and Offset IP metal factor anomalies (Figure 2).

Three principal target areas exist on the south side of the project: 1) Compañero breccia complex, 2) Mega-gold anomaly, and 3) La Joya (Figure 1). The Compañero breccias are similar to the mineralized breccia pipes on the north side of the project with strongly enriched gold in surface rock channel samples (see news release dated July 16, 2018). The Mega-gold target is defined by a large soil anomaly strongly anomalous in gold-molybdenum-tin, in part overlying a poorly exposed, phylically-altered granodiorite intrusion. The La Joya target area shows evidence of high sulfidation advanced argillic alteration with vuggy silica, alunite, dickite, zunyite, diaspore, and pyrophyllite.

About Chakana Copper

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.

Qualified Person
David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

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 may contain
forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties, and other factors which may cause the actual
results, performance, or achievements of 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.