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

Research, News, and Market Data on Maple Gold Mines

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

Highlights:

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

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

Interpretation
and Summary of Results

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

 

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

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

 

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

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

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

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

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

 

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

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

 

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

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

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

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

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

Operational
Update

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

Executive
Appointment

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

Option Issuance

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

Qualified Person

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

Quality
Assurance (QA) and Quality Control (QC)

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

About Maple Gold

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

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

ON BEHALF OF
MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For
Further Information Please Contact:

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

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

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

 

Monday, August 15, 2022

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

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

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

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

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

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

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Comstock Announces The Sale Of The Daney Ranch

Research, News, and Market Data on Comstock Mining

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

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

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

About
Comstock

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

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future changes in our research and development; and future prices and sales of, and demand for, our products and services. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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

Contact information:
Comstock Mining Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc	Corrado De Gasperis Executive Chairman & CEO Tel (775) 847-4755 degasperis@comstockmining.com	Zach Spencer Director of External Relations Tel (775) 847-5272 Ext.151 questions@comstockmining.com

Thursday, August 11, 2022

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

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

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

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

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

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

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Thursday, August 11, 2022

Comstock Inc. (LODE)
Making Significant Headway

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

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

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

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

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

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Wednesday, August 10, 2022

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

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

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

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

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

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Wednesday, August 10, 2022

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

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

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

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

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

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

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Defense Metals Diamond Drilling Update Infill and Exploration Drilling Complete And Pit Slope Geotechnical Drilling Underway

News, and Market Data on Defense Metals

VANCOUVER, BC, Aug. 9, 2022 /CNW/ – Defense Metals Corp. (“Defense
Metals” or the “Company“) (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to provide an update for its ongoing diamond drilling at its Wicheeda Rare Earth Element (REE) deposit. The 2022 resource infill and exploration diamond drill campaign is now complete and pit slope geotechnical drilling underway.

Figure 1. Wicheeda REE Deposit PEA Ultimate Pit Geotechnical Drill Plan (CNW Group/Defense Metals Corp.)

A total of 12 diamond drill holes totalling over 3,500 metres have been drilled to date within the northern and central areas of the Wicheeda REE Deposit preliminary economic assessment (PEA) mine plan ultimate pit area, with initial assays results from the earliest drill holes expected during September or October 2022.

All materials, instrumentation, and technical personnel have now been mobilized to site to commence geotechnical drilling for the purpose of open pit slope design optimization. A total of 5 geotechnical drill holes targeting the north, west, south, and east high walls of the Wicheeda PEA mine plan ultimate pit are planned (Figure 1). Data collection will include oriented drill core, field point load and laboratory-based intact rock and discontinuity strength testing, vibrating wire piezometer, and standpipe piezometer installation for hydrogeological investigations.

Kristopher Raffle, P.Geo., Director and QP of Defense Metals commented: “Defense
Metals is very pleased with the progress of the 2022 infill and exploration
drilling to date, and we look forward to gathering important pit slope
geotechnical data to support future Wicheeda REE Deposit advanced economic
studies.”

Management Site Visit

Concurrent with the commencement of geotechnical investigations Defense Metals’ management has arranged for a Wicheeda field visit during the week of August 15, 2022, to accompany strategic interested parties and capital market analysts.

About the Wicheeda REE
Property

The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.

The Wicheeda REE Project yielded a robust 2021 PEA that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR¹. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

____________________________

1 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.

About Defense Metals
Corp.

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

For further information,
please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: 
todd@blueskycorp.ca

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 news release.

Cautionary Statement
Regarding “Forward-Looking” Information

This news release contains “forward?looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, Wicheeda site visit and expected outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company 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 may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability 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, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.

SOURCE Defense Metals Corp.

Eskay Mining Discovers a New VMS Center at Jeff North and Intercepts Polymetallic VMS Mineralization in Two Areas Along TV-Jeff Corridor

Research, News and Market Data on Eskay Mining

TORONTO, ON / ACCESSWIRE / August 9, 2022 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK)(OTCQX:ESKYF)(Frankfurt:KN7) (WKN:A0YDPM) is pleased to announce discovery of a new volcanogenic massive sulfide (“VMS”) center at Jeff North as well as recent drill intercepts of polymetallic mineralization in two areas along the TV-Jeff corridor, part of its 100% controlled Consolidated Eskay project, British Columbia. As of this release, over 13,000m of diamond drilling has been undertaken in numerous drill holes along 3.7km of strike at TV-Jeff. Diamond drilling also continues at the Scarlet Ridge area, subject of a Company news release dated July 27, 2022. To date, the Company has completed approximately 15,600m of diamond core drilling, approximately 52% of the 30,000m planned to be completed in 2022. Drill production remains on target to reach this aggressive goal with four drills fully operational.

“As with the Scarlet Ridge-Tarn Lake VMS corridor, the TV-Jeff VMS corridor is proving itself to be another large VMS complex with sulfide mineralization focused along multiple syn-volcanic fault structures each closely associated with intense hydrothermal alteration of volcanic rocks”, commented Dr. John DeDecker, Eskay Mining’s VP of Exploration. “The discovery of Jeff North now extends the strike length of the known TV-Jeff VMS corridor to 3.7km. Importantly, recent drill holes completed in two areas have yielded intercepts of polymetallic sulfide mineralization with abundant chalcopyrite and sphalerite. Spot XRF readings taken from core indicates promising pathfinder element support including silver from this style of mineralization. Also encouraging, anomalous geochemical results recently received from soil samples collected at the very start of the 2022 exploration season indicate mineralization potentially extends another 2 km further north from Jeff North. We are optimistic that multiple other VMS targets we have recently identified along the TV-Jeff trend will prove mineralized, and we continue to grow confident about the potential for the Consolidated Eskay project to host an entire VMS district.”

Jeff North

Drilling at Jeff North targeted a large conductive SkyTEM anomaly coincident with a ridge of silicified peperitic basalt displaying strong Ag-in-soil anomalies from samples collected during the 2021 program. Strong VMS stockwork mineralization encountered in recent drilling at Jeff North lies 600m north of Jeff and extends at least 700m northwards along strike remaining open to the north. Some stockwork intervals are distinctly polymetallic displaying abundant sphalerite and chalcopyrite in addition to the ubiquitous pyrite. This mineralogy coupled with the presence of strong pathfinder elements including Ag, As, Sb, Cu, Zn, and Pb as detected by handheld XRF provide encouragement for presence of Au and Ag, both of which must be assayed for accurate measurement.Core is being logged, split and sampled in preparation for submittal for assaying.

Jeff North Drilling Highlights

• At present, drilling at Jeff North has ceased and the focus has moved onto TV, the area between TV and Jeff (Figures 1 and 2), and Scarlet Ridge. This said, Eskay is prepared to follow up with drilling at Jeff North late-season should assays confirm this to be a significant new discovery.
• Jeff North represents a new VMS discovery beginning 600m north of Jeff and extending at least 700m northwards. Sulfide mineralization is hosted by intensely silicified peperitic basalt and andesite flows (Figures 3 and 4). Mineralization remains open to the north as well as down-dip.
• J22-118 intercepted a 12.7m interval of polymetallic sulfide mineralization hosted within a silica-rich hydrothermal breccia and surrounding silicified mudstone (Figures 5 and 6). Sulfide mineralization includes abundant chalcopyrite and sphalerite. The presence of chalcopyrite with intense silicification suggests the proximity to a higher temperature VMS feeder zone than those encountered at TV and Jeff.
• Handheld XRF analyses of sulfide mineralization in several drill holes from Jeff North show high concentrations of the pathfinder elements Ag, As, Sb, Cu, Zn, and Pb.
• Early results from the 2022 soil sampling program show Ag and Hg anomalism extends 2km further north than hole J22-99 (Figure 9), the northernmost drill hole completed at Jeff North. Given that the Jeff North target was recognized as a SkyTEM conductivity high with an accompanying soil geochemical anomaly, Eskay’s exploration team is optimistic that the Jeff North VMS system extends further northward. Soil sampling over a large SkyTEM conductive high approximately 1.8km north of Jeff North is currently underway.
• J22-122 intercepted a 9.0 m interval of polymetallic sulfide mineralization hosted by intensely silicified andesitic peperite and associated mudstone (Figures 7 and 8). Polymetallic mineralization in both J22-118 and J22-122 occur at an equivalent horizon to the lower stockwork zone at Jeff 125 m south of J22-122.

Commencement of Drilling at TV

• Drilling has commenced at TV focusing on expanding upon the core body of mineralization identified in 2021 drilling. Planned drill holes will test extensions of TV mineralization further down-dip, along strike to the north and south, and up stratigraphic section.
• Testing of nearby IP-resistivity and SkyTEM targets is also scheduled. Based on past success of targeting VMS mineralization using SkyTEM and soil data at Jeff North, Jeff, and TV, the Eskay team is optimistic that a cluster of SkyTEM conductivity highs surrounding TV will lead to discovery of additional VMS mineralization.
• The first 2022 drill hole at TV, TV22-84, intercepted approximately 40m of stockwork sulfide mineralization 65m down-dip from TV21-54, a very promising indication the system remains open in this direction (Figures 10 and 11).

To date, Eskay Mining has completed approximately 15,600m of diamond core drilling, approximately 52% of the 30,000m planned for 2022. Thus far, drilling has occurred around the area called Jeff North, Scarlet Ridge and now, at TV. At present, four drills are fully operational and drill production is on track to reach Eskay’s aggressive goal of 30,000 m.

Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the “Golden Triangle,” 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:

Mac Balkam President & Chief Executive Officer

T: 416 907 4020 E:  Mac@eskaymining.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 Press Release contains forward-looking statements that
involve risks and uncertainties, which may cause actual results to differ
materially from the statements made. When used in this document, the words
“may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect” and similar expressions are intended to identify
forward-looking statements. Such statements reflect our current views with
respect to future events and are subject to risks and uncertainties. Many
factors could cause our actual results to differ materially from the statements
made, including those factors discussed in filings made by us with the Canadian
securities regulatory authorities. Should one or more of these risks and
uncertainties, such as actual results of current exploration programs, the
general risks associated with the mining industry, the price of gold and other
metals, currency and interest rate fluctuations, increased competition and
general economic and market factors, occur or should assumptions underlying the
forward looking statements prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated, or expected. We
do not intend and do not assume any obligation to update these forward-looking
statements, except as required by law. Shareholders are cautioned not to put
undue reliance on such forward-looking statements.

Full Press Release with appendix images available at
eskaymining.com

Tuesday, August 09, 2022

Aurania Resources (AUIAF)
Sowing the Seeds for a Successful Drilling Program

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

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

Geological mapping update. As a follow up to our note published on July 27, geological mapping at the company’s porphyry copper-gold target Tatasham is expected to be completed in the next few weeks. The second phase of mapping at the company’s porphyry copper-gold Awacha target is planned to start by the end of August.

Excitement builds around Tatasham and Awacha. The geological mapping program, under the guidance of Dr. Steve Garwin, Senior Technical Advisor, employs the Anaconda mapping method to define drill targets at Tatasham and Awacha. The Anaconda method owes its name to Anaconda Copper where it was developed in the 1960s and 1970s and was instrumental in the discovery and resource expansion of several porphyry copper-gold deposits, including the Alpala deposit in the the Cascabel concession in Ecuador, and the Cortadera deposit in Chile. In our view, the comprehensive mapping program should support a productive drilling program and enhance the probability of successful outcomes….

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. 

Aurania Provides Update on Geological Mapping Program

Research, News, and Market Data on Aurania Resources

Toronto, Ontario, August 8, 2022 – Aurania Resources Ltd. (TSXV:
ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to report that, under the guidance of Senior Technical Advisor, Dr. Steve Garwin, detailed geological mapping at its Tatasham target is progressing and is expected to be completed in the coming weeks. The second phase of mapping at the Company’s Awacha target is planned to start by the end of August.

The purpose of this field work is to apply the Anaconda mapping method to define the drill targets at Tatasham and Awacha. The Anaconda method was developed in the 60’s and 70’s by Anaconda Copper and has led to the discovery and resource expansion of several porphyry copper-gold deposits including the Apala deposit in Ecuador and Cortadera in Chile.  To learn more about the importance of geological mapping and the Anaconda technique, click
here to view a video with Steve Garwin recorded during the GeoHug webinar
series July 2021.

The Company also announces that its Chairman, President and Chief Executive Officer, Dr. Keith Barron (the “Lender”) completed a loan of C$1,000,000 to the Company. The loan is unsecured, bears interest at 2% per annum and matures upon notice of twelve months and one day from the Lender.  The loan will help fund the Company’s working capital and ongoing exploration activities.

Dr. Keith Barron is a related party of the Company by virtue of the fact that he is the Chairman, the President and Chief Executive Officer, a promoter and a principal shareholder of the Company, and as a result, each of the Loan constitutes a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying upon an exemption from the formal valuation and minority shareholder approval requirements under MI 61-101 in respect of the Related Party Transactions, in reliance on Sections 5.5(a) and 5.7(1) of MI 61-101, respectively, as the fair market value of the Related Party Transaction, collectively, does not exceed 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The Company did not file a material change report related to the Loan more than 21 days before the expected closing of the Loan as required by MI 61-101, as the Company required the funds from closing on an expedited basis for sound business reasons.

The Loan and the Insider Participation were approved by the members of the board of directors of the Company who are independent for purposes of the Related Party Transactions, being all directors other than Dr. Barron. No special committee was established in connection with the Loan and the Insider Participation, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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.

Monday, August 08, 2022

Coeur Mining (CDE)
Lowering Rating to Market Perform

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

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

Second quarter 2022 results. Coeur reported a second quarter adjusted net loss of $13.1 million or $(0.05) per share, compared to a net loss of $840 thousand or $(0.00) per share, during the prior year period, and our net income estimate of $4.0 million, or $0.01 per share. The variance to our estimates was due in part to higher costs applicable to sales. Adjusted EBITDA amounted to $43.3 million. Second quarter sales included 2.5 million ounces of silver and 84,786 ounces of gold. Coeur reaffirmed full year production guidance and increased cost guidance to reflect inflationary pressures. We have lowered our full year 2022 EBITDA and EPS estimates to $151.8 million and $(0.12), respectively, and our 2023 estimates to $181.3 million and $0.11. Our estimates reflect higher costs and lower commodity prices.

Rochester advances. The POA 11 Rochester expansion project is advancing with completion expected in mid-2023. Coeur has committed approximately $523 million of the $600 million estimated project capital cost and has incurred $350 million of the total estimated project cost through June 30. Coeur expects to spend between $217 million and $257 million in 2022 and $131 million and $171 million in 2023. In our view, the project’s net present value of $348.1 million estimated in the most recent technical report dated December 2021 is at risk of erosion due to higher costs and lower silver prices. Recall the first technical report published in 2020 predicted a capital cost of $396.8 million, now north of $600 million, and a net present value of $633.8 million….

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Friday, August 05, 2022

Cypress Development (CYDVF)
Drill Results Highlight Opportunity for an Extended Shallow Pit Design

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

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

Sonic drill program. Cypress Development reported results from its sonic drill program intended to obtain material for metallurgical testing at the company’s lithium extraction pilot plant and to supplement the project’s resource model for the feasibility study that is expected to be completed by year-end. Eight holes were drilled representing a total of 580 meters with depths ranging from 61 to 76 meters. Four holes were drilled in the central part of the Clayton Valley property near the planned location of a starter-pit, while four holes were drilled in the northeast portion of the project on and near a parcel of property acquired in May from Enertopia Corporation.

Results validated the company’s resource model. The assay results were in line with lithium grades predicted at all eight locations by the company’s resource block model. The compiled average lithium grade from all eight holes were 1,080 parts per million lithium compared to 1,060 parts per million predicted by the company’s current resource model for all eight locations….

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.