Maple Gold Announces C$4.8 Million Increase to Year Two Exploration Budget at Douay and Joutel

Research, News, and Market Data on Maple Gold Mines

Vancouver, British Columbia–(Newsfile Corp. – May 18, 2022) – Maple Gold Mines
Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce that the 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited (“Agnico”) has agreed to increase the JV’s Year Two exploration budget by C$4.8 million to support a deep drilling program at the JV’s Douay Gold Project (“Douay”) and Joutel Gold Project (“Joutel”) in Quebec, Canada.

“Approval
of this supplemental budget in Year Two of the JV is an important continuation
of our 2022 exploration program across our 400 km² land
package,” stated Matthew Hornor, President and CEO of Maple Gold. “The
JV has developed a more aggressive step-out and deep drilling program to define
a larger gold system at Douay and to extend higher-grade mineralization along
the entire past-producing Eagle-Telbel mine trend at Joutel. It is an exciting
step for the JV to initiate this deep drilling program and we look forward to
working closely with our partner to deliver new discoveries that can expand the
current resource base.”

Fred Speidel, VP Exploration of Maple Gold added: “The Abitibi
Greenstone Belt is renowned for its deep-rooted gold systems and the confirmed
presence of mineralized carbonatite at Douay requires deep, mantle-tapping
structures. The expanded Year Two drill program will specifically target
Douay’s depth potential and will also kick-off maiden JV drilling at Joutel,
where historical intercepts and initial 3D modeling point to the potential for
extensions of high-grade gold mineralization at depth. Our current Eagle and
Douay drill programs are ongoing and with this supplemental budget now approved
we expect to be drilling continuously throughout 2022 and into 2023.”

The C$4.8 million supplemental exploration budget provides additional funding beyond Agnico’s Year Two JV spending commitment of C$4 million, therefore the partners will each contribute C$2.4 million on a pro rata (50/50) basis as per the JV agreement. Maple Gold’s portion will be fully funded using proceeds from the Company’s 2021 flow-through financing (see news from December 9, 2021). The deep drilling program is expected to include four to six drill holes and/or drill hole extensions totaling roughly 10,000 metres (“m”) across Douay and Joutel.

Deep
Drilling at Douay

The average vertical depth of the drill hole database at Douay is less than 300 m. Select deeper drilling has been completed, including the first two +1,000 m drill holes completed at Douay during the Winter 2022 campaign, but only limited drill data exists below 500 m vertical depth and no data exists below 800 m vertical depth. The supplemental budget will allow additional deep (1,500 – 2,000 m) drill holes or drill hole extensions at Douay, which have been designed to test multiple horizons within the favourable litho-tectonic corridor extending from roughly one kilometre south of the Casa Berardi North Fault (“CBNF”) within basalt and syenitic rocks, and up to 500 m north of the CBNF in Taibi Group sediments. Planned deep drill holes at Douay are designed to reach the CBNF at depth and will test the full extent of the mineralized system, from the Douay West Zone to the Main Zone, all well below the SLR 2022 conceptual pits in these areas (see Figure 1 for proposed drill hole locations).

Figure 1: Douay NW-SE vertical longitudinal section (all zones) showing location of proposed deep drill holes relative to existing drilling and SLR 2022 mineral resources and conceptual pits. Pierce points are approximate and reflect broader targets that extend from the first appearance of syenite to up to 500 m north of the CBNF. Note that for practical (terrain) reasons several of these deeper holes will not be drilled until February 2023. Other mine/project information shown for reference only.

Deep
Drilling at Joutel (Telbel Mine Area)

Planned drilling at Joutel will include three drill holes beneath the historical underground mine workings at Telbel, which extend to roughly 1,200 m below surface. Past gold production at Telbel focused on a single zone between 600 – 1,200 m; however, the JV’s data digitization and 3D modeling have identified significant gold intercepts up to 1,400 m below surface that were never adequately followed up on. This initial phase of deep drilling at Telbel will begin to test the observed stratigraphic continuity and associated gold mineralization at greater depth. At least one hole is expected to be drilled from the south and at least two holes from the north to test the full stratigraphy for the main Telbel mine horizon and potential sub-parallel gold trends (see Figure 2 for proposed drill hole locations).

Figure 2: Oblique view of Telbel mine area showing location of proposed deep drill holes.

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.

About
Maple Gold

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

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

ON
BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For
Further Information Please Contact:

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

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

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

Forward
Looking Statements:

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

ALLEGIANT COMMENCES UAV-MAG SURVEY AT GOLDFIELD WEST PROJECT

Research, News, and Market Data on Allegiant Gold

Reno, Nevada
/May 19, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU:
TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of a UAV-based MAG geophysical survey at Goldfield West ahead of a future drill program.

The Goldfield West property (“Goldfield
West” or the “Property”) operated by Allegiant Gold consists of 185 unpatented claims (80 claims optioned from Anchor Minerals) located near the historic town of Goldfield.  The Property is near Gemfield recently acquired by Centerra Gold from Waterton Global Resources for approximately US$206 million.  The Property is situated nearby a main highway and has access to excellent infrastructure.  Zonge Engineering will be conducting the survey at Goldfield West and is expected to be completed in the next few days.     

Peter Gianulis, CEO of
Allegiant Gold, commented: “Goldfield West is one of our most sought-after projects located near the historic mining town of Goldfield.  We are very excited to finally initiate a work campaign.  The Mag survey is the next step in a program that will lead to further geophysical work consisting of resistivity surveying (i.e., CSAMT) and geochemical sampling and detailed geologic mapping, ultimately leading to a drill plan and program.”

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

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

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

ir@allegiantgold.com

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

Wednesday, May 18, 2022

Newrange Gold (NRGOF)
Newrange Rethinks its Portfolio; New Acquisitions Contemplated

Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .

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

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

North Birch drilling program. At the North Birch Project, northeast of Red Lake, Ontario, two diamond drill holes were completed for a total of 723 meters. While the winter drill program was cut short due to inclement weather, the drill holes were the first two to test the main target horizon. Management remains optimistic based on commonalities between North Birch and other gold systems within the Uchi sub-province. Recall that the first diamond drill hole on the primary target horizon confirmed the presence of a strong deformation zone greater than 100 meters wide. The sheared and folded basalts and iron formation displayed moderate to high carbonate alteration, and local quartz veining. Newrange anticipates drilling to resume in the summer.

Next steps at Argosy. Recall that Newrange owns a 100% interest in the Argosy property which hosts the past producing Argosy gold mine and is adjacent to North Birch. The first drill sites at Argosy have been prepared, and initial holes will test both the down-dip extension of gold mineralization below the historic mine workings and parallel to veins closer to surface….

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. 

Monday, May 16, 2022

Garibaldi Resources Corp (GGIFF)
Setting Up for a Productive 2022 Drilling Program

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

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 Casper drill results. Garibaldi Resources released results from exploratory drill holes testing multiple mineralized veins and volcanic rocks at the Casper Quartz Vein System. Five diamond drill holes followed the first four holes for which results were released in February 2021. Eight of the nine holes have intersected significant gold mineralization, with increasing gold grades toward the southeast.

Promising Nickel Mountain target. Building on the company’s 2021 Z-Axis Tipper Electromagnetic (ZTEM) survey that encompassed Garibaldi’s 180-square kilometer Nickel Mountain – Palm Springs Project claim groups, three-dimensional processing identified several new low-resistivity ZTEM responses 5 kilometers northeast of the E&L nickel-copper-cobalt massive sulphide zone, including a new anomaly at the B1 target which has not been drill tested. The B1 target exhibited a consistent ZTEM low resistivity zone coincident with a near surface VTEM conductive anomaly. The ZTEM low resistivity zone extends to depth like the low resistivity zone beneath E&L….

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. 

Labrador Gold Announces Early Exercise of Option to Earn 100% of the Kingsway Project

News and Market Data on Labrador Gold Corp

TORONTO, ON, May 16, 2021 – Labrador Gold Corp. (TSX.V : LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has exercised its option two years early to earn 100% of the three licenses comprising the Kingsway project near Gander, Newfoundland. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

The Kingsway Property is composed of three licenses 027636M and 027637M which were optioned in March 2020 and 023940M optioned in July 2020. Together these three licenses cover approximately 12km of the Appleton Fault Zone along which prospecting and drilling over the past two years by LabGold and New Found Gold has resulted in the discovery of numerous near-surface high grade gold occurrences. Given the prolific nature of this fault zone and the continued success of the Company’s exploration on the property, the Board agreed to accelerate the option payments to acquire the 100% interest.

“It is clear to us that the Kingsway Property will need sustained exploration over the long term to fully understand its potential. The success we have had in just a year and half spent working in the field speaks to the prospectivity of the Appleton Fault Zone and the remainder of the property in general,” said Roger Moss, President and CEO of Labrador Gold. “Acquiring the 100% interest in the property two years earlier than required shows the confidence we have that there is more to come from Kingsway, and we are excited to continue exploring the entire 12km strike length of the Appleton Fault Zone.”

The Company now owns a 100% undivided interest in license 023940M. 
The Company also owns a 100% undivided interest in licenses 027636M and 027637M subject to: 
A 1.0% Net Smelter Returns royalty plus $1 per ounce of gold in the measured and indicated mineral resource categories established in a National Instrument 43-101 technical report for the development of the Property.
Expenditure target payments of $750,000 for each $10 million in exploration expenditures up to $30 million.

Upcoming Webinar

Labrador Gold is also pleased to announce that President and CEO, Roger Moss, will be providing the latest update from the Kingsway project in a live webinar taking place on Monday, May 16th at 1:00PM PT/ 4:00PM ET. To register for the event please click the link below. 

Registration:  https://event.webinarjam.com/channel/LabGold

Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

Labrador Gold owns a 100% undivided interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging results including the discovery of near surface gold mineralization at three of three targets drilled to date. The Company has approximately $25 million in working capital and is well funded to carry out the planned program.  

The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 156,740,526 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB. 

For more information please contact:             

Roger Moss, President and CEO      Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
@LabGoldCorp

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

Forward-Looking Statements: This news 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.

Friday, May 13, 2022

Sierra Metals (SMTS)
On the Road to Recovery

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.

First quarter earnings exceed expectations. Sierra Metals reported first quarter adjusted net income of $5.9 million, or $0.04 per share, compared with $4.7 million, or $0.03 per share, during the prior year period and our estimate of $5.5 million, or $0.03 per share. Adjusted EBITDA amounted to $16.0 million compared to $27.9 million during the prior year period. The company appears well on its way toward achieving its 2022 production guidance in the range of 79.5 million to 89.7 million pounds of copper equivalent.

Updating estimates. We have increased our 2022 EPS and EBITDA estimates to $0.23 and $101.9 from $0.21 and $100.8 million, respectively. We expect steady growth in EBITDA throughout the year as Bolivar ramps up production and the company makes up for lost first quarter production at Yauricocha during the remainder of the year. While Yauricocha and Bolivar cash and all in sustaining costs per copper equivalent pound remained elevated during the first quarter, management expects achieve its 2022 cost guidance based on higher levels of production during the balance of the year….

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

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

Endeavour Silver Announces 2022 Annual General Meeting Voting Results

Research, News, and Market Data on Endeavour Silver

VANCOUVER, British Columbia, May 13, 2022 (GLOBE NEWSWIRE)
— Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce that at the Company’s 2022 Annual General Meeting (“AGM”) held on May 12, 2022 in Vancouver, shareholders voted in favour of all items of business. A total of 74,416,771 votes were cast or represented by proxy at the AGM, representing 43.57% of the outstanding common shares as of the record date. The following is a tabulation of the votes submitted by proxy:

DIRECTORS	NUMBER OF SHARES		PERCENTAGE OF VOTES CAST
	FOR	WITHHELD/ ABSTAIN	FOR	WITHHELD
Margaret M. Beck	44,199,571	1,947,032	95.78%	4.22%
Ricardo M. Campoy	44,287,849	1,858,754	95.97%	4.03%
Bradford J. Cooke	42,952,074	3,194,529	93.08%	6.92%
Daniel Dickson	45,220,569	926,034	97.99%	2.01%
Amy Jacobsen	45,163,634	982,969	97.87%	2.13%
Rex J. McLennan	42,409,137	3,737,465	91.90%	8.10%
Kenneth Pickering	44,867,006	1,279,596	97.23%	2.77%
Mario D. Szotlender	44,085,535	2,061,067	95.53%	4.47%

All director nominees were re-elected.

On a vote by show of hands, shareholders voted in favour of re-appointing KPMG LLP as auditor of the Company and authorized the Board to fix the auditor’s remuneration for the ensuing year.

About Endeavour Silver – Endeavour Silver Corp. 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.

SOURCE Endeavour Silver Corp.

Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: pmoran@edrsilver.com
Website: www.edrsilver.com

Casper Vein Returns 30 g/t Gold Along Strike To The South-East

Research, News, and Market Data on Garibaldi Resources

Vancouver, British
Columbia, May 13, 2022 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce results from early-stage exploratory drill holes testing multiple mineralized veins and volcanic rock units at the Casper Quartz Gold Vein System (see news release October 31, 2021). Drilling at Casper, 20km north of E&L in the Eskay Camp of Northwestern British Columbia, was completed in late 2021.

• Five diamond drill holes followed-up the first four holes into the Casper Discovery reported on Feb. 12 2021. Eight of the nine holes have intersected significant gold mineralization, with increasing gold grades towards the southeast.
• Drill core samples from silicified volcanic rocks containing quartz-carbonate-sulfide veins at a depth of 129.5 m returned 10.15 g/t gold over 4.5 m (CAS-21-05: 129.5-134m), including 29.94 g/t gold over 1.5 m (CAS-21-05: 129.5-131m). This intercept may be continuous with the 4-meter-thick mineralized silicified unit containing visible gold intercepted in 2020, located approximately 65 m to the northwest (see news dated Feb. 12, 2021). This hole validates the exploration concept that gold mineralization is associated with a broad silicified volcanic unit rather than discrete local veins, expanding the potential for a much larger gold-bearing mineral system.
• Elevated gold abundances along a 260m strike length are confirmed by drilling, and the system remains open with increasing potential to the southeast. Previously reported surface trenching has also exposed the Casper vein for over 120m strike length, and select rock samples exceeding 1.0 g/t Au occur at surface for over 330m, within a 500 m wide zone of anomalous gold concentrations in soil.
• Fine grained visible gold has been intercepted in both 2021 and 2022 drilling as well as 2022 trenching. Multiple grab samples with visible gold trenched in 2020 from the east side of the main Casper vein returned 249.0, 92.3, 75.3 and 58.4 g/t gold (see news dated Sept. 22, 2020)

Exploration at Casper has identified a continuous zone of gold-rich quartz vein mineralization in association with soil geochemical gold anomalies and extensive rock-chip gold anomalies both along strike and across strike indicating potential for multiple sub-parallel veins of mineralization. The development of silicified country rocks with elevated gold content, and the complex structural relationships evident from the LiDAR data highlight the potential that the results sit on the edge of a much larger gold-bearing mineral system where altered country rocks and quartz veins with elevated gold are controlled by NW-SE and N-S lineaments corresponding to a shear zone. An exciting opportunity exists to expand the footprint of the mineral zone and identify structurally-controlled blow-outs with economically interesting grade and thickness of gold-silver mineralization.

Jeremy Hanson, Garibaldi VP-Exploration, stated: “We are very encouraged by the second round of drilling results at Casper. We are still in the very early stages of this project, but we have confirmed that gold is present in both veins and the silicified host rocks. This verifies that the Casper system could be another gold rich system in the Eskay Camp.”

Steve Regoci, Garibaldi CEO stated “The Casper discovery continues to bolster our impressive Eskay area precious metal prospects. It is the first gold system discovered amongst our numerous gold showings which will be the focus of a separate exploration initiative along with Palm Springs during 2022.

The high-grade Ni-Cu-PGE E&L system at Nickel Mountain is the primary focus along with numerous base metal targets identified from the results of the property wide ZTEM geophysical survey. These new base and precious metal targets will provide additional opportunities for significant discoveries in the Golden Triangle.”

Drill Hole Results Table – CAS-21-05 to CAS-20-09

Drill Hole Coordinates Table

Hole	Easting*	Northing*	Elevation (MASL)	Azimuth (°)	Dip (°)	Length (m)
CAS-21-05	397432	6284599	432	068	-55	248
CAS-21-06	397380	6284653	426	000	-55	210
CAS-21-07	397382	6284652	426	044	-55	180
CAS-21-08	397303	6284690	431	024	-50	262
CAS-21-09	397301	6284690	432	000	-50	253

* UTM Zone 9N WGS 84

Figure 1 – Drill hole traces from 2021-2022 along showing extent of gold mineralization in core and at surface. Drilling has confirmed gold mineralization is present along strike for over 220m, remains open and increases in grade to the southeast. Which is concurrent with exposed surface mineralization before system extends under cover.

Casper Drilling Plan & Sections Maps

See www.garibaldiresources.com for the latest Casper maps & sections outlining mineralized veins and volcanics units.

Quality Assurance/Quality Control (QA/QC)

Garibaldi Resources has applied a rigorous quality assurance/quality control program at the Casper Project using best industry practice. All core was logged by a geoscientist and selected intervals were sampled. NQ drill core was sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, British Columbia. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory. All sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified assay laboratory standards and one blank standard were used in the process. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 105 microns. Gold was analyzed using a 50-gram fire assay and ICP-AES, or metallic screen for coarse gold. Samples with coarse visible gold are subject to the nugget effect, may be difficult to reproduce or duplicate and may not be indicative of the overall mineralization of the vein. Samples with visible gold were analyzed using the Metallic Screen method where a minimum 500 gram sample is crushed and separated into two batches. A Minus batch with particles less than 106 microns, and a Plus batch with particles greater than 106 microns. Both batches of the sample are analyzed with a fire assay and finished with AAS, ICP-OES or gravimetric depending on grade. A final weighted average is calculated.

Sample 71604 (CAS-21-05 129.5-131m) was submitted for fire assay with gravimetric analysis and returned a value of 27.9 g/t Au. Following this result, two duplicates were prepared at the lab from the initial drill core sample and submitted for metallic screening procedure at 106 um mesh followed by fire assay with gravimetric analysis, and a separate fire assay with gravimetric analysis to confirm the initial result. Metallic screen returned a value of 31.43 g/t Au, with the secondary fire assay and gravimetric analysis returning a value of 30.51 g/t Au for an overall average of 29.94 g/t Au

Qualified Person & Data Verification

Jim Hutter, P.Geo., a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hutter has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

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

Thursday, May 12, 2022

Endeavour Silver (EXK)
First Quarter Earnings Exceed Expectations; Project Milestones Draw Near

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.

First quarter results exceed expectations. Endeavour Silver reported first quarter net earnings of $11.7 million, or $0.07 per share, compared to an adjusted net loss of $4.5 million, or $(0.03) per share during the prior year period. We had forecast net income of $8.4 million, or $0.05 per share. The company generated adjusted EBITDA of $27.1 million compared to $8.3 million during the prior year period and our estimate of $17.1 million. Variances to our estimate included lower direct production costs and $6.6 million of other income, including foreign exchange and investments. Revenue of $57.7 million was modestly ahead of our $57.2 million estimate.

Updating estimates. While we are maintaining our 2022 EPS estimate, we have increased our EBITDA estimate to $67.8 million from $60.6 million. Our revised estimates reflect lower direct production costs and higher depreciation, depletion, and amortization….

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. 

Endeavour Silver Releases 2021 Sustainability Report

Research, News, and Market Data on Endeavour Silver

Sierra Metals Reports Consolidated Financial Results for the First Quarter Of 2022

Research, News, and Market Data on Sierra Metals

Conference Call May 12, 2022 At 11:00 AM (EDT)

  ______________________________________________________________________
(All $ figures reported in USD)

• Revenue from metals payable of $57.2 million in Q1 2022, an 18% decrease from $69.6 million in Q1 2021 and an 8% decrease from Q4, 2021.
• Adjusted EBITDA of $16.0 million in Q1 2022, a 43% decrease from $27.9 million in Q1 2021 and a 15% decrease from Q4, 2021.
• Operating cash flows before movements in working capital of $10.7 million in Q1 2022, a 58% decrease from $25.3 million in Q1 2021 and a 31% decrease of from Q4, 2021.
• Copper equivalent production of 15.9 million pounds; a 38% decrease from Q1 2021 and an 11% decrease from Q4, 2021.
• Cash costs and AISC per copper equivalent payable pound compared to Q1 2021 increased at Yauricocha 48% and 41% respectively; at Bolivar cash costs and AISC per copper equivalent payable pound increased by 187% and 152%, respectively, driven by higher costs and lower copper equivalent pounds payable; and at Cusi cash costs per silver equivalent payable ounce decreased by 28% and 34%, respectively.
• Net income attributable to shareholders for Q1 2022 was $0.4 million (Q1 2021: $3.1 million) or $0.00 per share (basic and diluted) (Q1 2021: $0.02);
• Adjusted net income attributable to shareholders ⁽¹⁾ of $5.9, or $0.04 per share, for Q1 2022 as compared to the adjusted net income of $4.7 million, or $0.03 per share for Q1 2021;
• After reaching the Bolivar Northwest orebody at the end of Q1 2022, a continued focus on meeting maximum permitted throughput at Yauricocha and an increase in throughput with higher grades at Cusi, production is on track to reach the Company’s H1 guidance of 34.0 to 39.5 million copper equivalent pounds.
• $19.5 million of cash and cash equivalents as at March 31, 2022 .
• $61.6 million in net debt as at March 31, 2022.

A
shareholder conference call to be held Thursday, May 12, 2022, at 11:00 AM
(EDT). Click here to register.

Luis
Marchese, CEO of Sierra Metals, commented, “Following a difficult start to
the year, the Company continues on its path towards operational recovery.
During the first quarter, lower throughput and grades resulted in a decrease in
the production of all metals along with significant increases to cash costs and
all-in sustaining costs at both Yauricocha and Bolivar.

He
continued, “Our turnaround program continues at Bolivar. With close to 20,000
meters in exploration drilling completed, we have now accessed the Bolivar
NorthWest zone, which is expected to provide ore for the next several quarters.
As previously stated, production at the Mine is expected to improve for the
balance of the year as we ramp up production to full capacity. Additionally,
with the discovery of the new Fortuna zone at Yauricocha, we expect to see an
improvement in throughput and grades during the second half of the year.
Continued drilling will help us better understand the patterns within the high
grade orebody and provide potential to find additional high value targets.
Meanwhile, we are pleased with Cusi’s performance during the first quarter. As
a result of increased throughput and higher grades, the Mine is on track to
meet production guidance for the year and continue its positive contribution to
the Company’s EBITDA. Mine development at Cusi will continue with the goal of
targeting a throughput increase to 1,200 tonnes per day.”

He
concluded, “The outlook for a full recovery at our largest mines is
encouraging. With the first quarter behind us, we continue to proceed in a
disciplined manner. Our goal is to ensure that our current guidance is met and
that we are making the right decisions now for future performance at our mines,
so that we can deliver improved value for our shareholders going forward.”

TORONTO–(BUSINESS WIRE)– 
Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) today reported revenue of $57.2 million and an adjusted EBITDA of $16.0 million on the throughput of 590,730 tonnes and metal production of 15.9 million copper equivalent pounds for the three-month period ended March 31, 2022.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220511005888/en/

Q1
2022 Consolidated Operating Highlights

The Yauricocha Mine achieved a throughput of 315,250 tonnes or 3% lower in Q1 2022 compared to Q1 2021. This 3% decrease was due to delays in shotcrete work resulting from lower equipment availability and shortage of manpower. Labor shortages were also experienced in development and mining areas due to the continued impact of COVID-19. The delays in preparation of the polymetallic mining zones forced the mine to focus on copper sulfides during the quarter, which resulted in higher copper head grades, but negatively impacted grades for all other metals, except gold. Q1 2022 copper and gold production was 60% and 19% higher, while silver, lead and zinc production was 43%, 56% and 57% lower respectively as compared to Q1 2021. Lower throughput combined with the impact of lower grades, except for copper and gold, resulted in a 32% decrease in copper equivalent pounds produced in Q1 2022 compared to Q1 2021. Cash costs per copper equivalent payable pound increased 48% and AISC per copper equivalent payable pound increased by 41% as compared to Q1 2021.

The Bolivar Mine processed 187,556 tonnes in Q1 2022, representing a 50% decrease from tonnes processed in Q1 2021. Ore tonnage and grades at Bolivar in Q1 2022 were negatively impacted due to the presence of intrusive rock in the Mina de Fierro zone and lower than expected grades from the Bolivar West ore body. Grades for copper, silver and gold were 25%, 44% and 16% lower respectively, as compared to Q1 2021. The decrease in throughput and grades resulted in a 64% decrease in copper equivalent pounds produced during Q1 2022 as compared to Q1 2021. Production is expected to improve for the balance of the year, in particular, during the second half of 2022, due to the full turn-around effort currently underway. Mining started in the Bolivar Northwest zone, which is expected to support the bulk of production for the coming quarters. Cash costs and AISC per copper equivalent payable pound increased by 187% and 152%, respectively, as compared to Q1 2021.

The Cusi Mine achieved a 15% increase in throughput at 11% higher silver grades during Q1 2022, resulting in 37% higher silver equivalent production as compared to Q1 2021 as higher head grades resulted from positive reconciliations to the resources in the mined zones. Cusi production is on track to meet production guidance for the year. Cash costs and AISC per silver equivalent ounce decreased by 28% and 34%, respectively, as compared to Q1 2021.

Consolidated production of silver decreased 24% to 0.7 million ounces, copper decreased 20% to 6.3 million pounds, lead decreased 53% to 4.2 million pounds, zinc decreased 57% to 10.5 million pounds, and gold decreased 27% to 1,923 ounces compared to Q1 2021.

Q1
2022 Consolidated Financial Highlights

Revenue from metals payable of $57.2 million in Q1 2022 decreased by 18% from $69.6 million in Q1 2021. The decrease in revenues was largely the result of lower throughput at the Bolivar mine and lower grades from the Bolivar and Yauricocha mine. Higher average realized prices for all metals, except silver, could not compensate for the lower metals production.

Yauricocha’s cash cost per copper equivalent payable pound was $2.19 (Q1 2021 – $1.48), and AISC per zinc equivalent payable pound of $3.73 (Q1 2021 – $2.65). Higher unit costs resulted from a 37% decrease in copper equivalent payable pounds.

Bolivar’s cash cost per copper equivalent payable pound was $4.55 (Q1 2021 – $1.58), and AISC per copper equivalent payable pound was $7.33 (Q1 2021 – $2.91) for Q1 2022. Unit costs at Bolivar increased as the 50% decrease in tonnage processed resulted in higher operating costs per tonne. Further, lower grades resulted in a 56% decrease in the copper equivalent payable pounds as compared to Q1 2021.

Cusi’s cash cost per silver equivalent payable ounce was $13.48 (Q1 2021 – $18.72), and AISC per silver equivalent payable ounce was $19.94 (Q1 2021 – $30.28) for Q1 2022 as compared to Q1 2021. Unit costs for Q1 2022 declined at Cusi due to the 49% increase in the silver equivalent payable ounces sold as compared to Q1 2021.

Adjusted EBITDA⁽¹⁾ of $16.0 million for Q1 2022 decreased compared to $27.9 million in Q1 2021. The decrease in adjusted EBITDA in Q1 2022 resulted from lower revenues and lower gross margins as compared to Q1 2021.

Net income attributable to shareholders for Q1 2022 was $ 0.4 million (Q1 2021: $3.1 million) or $0.00 per share (basic and diluted) (Q1 2021: $0.02).

Adjusted net income attributable to shareholders ⁽¹⁾ of $5.9 million, or $0.04 per share, for Q1 2022 as compared to the adjusted net income of $4.7 million, or $0.03 per share for Q1 2021.

Cash flow generated from operations before movements in working capital of $10.7 million for Q1 2022 decreased compared to $25.3 million in Q1 2021. The decrease in operating cash flow is mainly the result of lower consolidated revenues generated and lower gross margins realized.

Cash and cash equivalents of $19.5 million and working capital of $12.4 million as at March 31, 2022 compared to $34.9 million and $17.3 million, respectively, at the end of 2021. Cash and cash equivalents decreased during Q1 2022 due to $3.9 million used in operating cash activities, $10.7 million of cash used in investing activities and $0.9 million used in financing activities.

The Company has access to an available credit line with a Peruvian Bank in the amount of US$14 million as well as other short term lines and prepayment facilities with its commercial offtakers.

⁽¹⁾ This is a non-IFRS performance measure. See the Non-IFRS Performance Measures section of the MD&A.

Outlook
2022

Yauricocha:

• Lost production during Q1/2022 is expected to be recovered in the coming quarters by making use of spare capacity at the plant, with increased throughput. Our drilling campaign remains focused on the upper areas of the mine to identify new mineable areas within the permitted levels.
• Expect to access the newly discovered high grade Fortuna orebody as early as Q3, 2022.
• Yauricocha Mine remains on track to achieve copper equivalent production guidance of 45 to 49 million copper equivalent pounds.

Bolivar:

• Expect improved production for the balance of 2022, in particular, during the second half of the year, due to the full turn-around effort currently underway. Mining started in the Bolivar NW zone, which is expected to support the bulk of the production for the coming quarters.
• Infill drilling and development will continue.
• Bolivar Mine is expected to meet copper equivalent production guidance of 23.8 to 29.9 million copper equivalent pounds.

Cusi:

• Focus on development to target throughput of 1,200 TPD.
• Cusi Mine is on track to meet production guidance of 1.75 million to 1.85 million silver equivalent ounces.

Exploration
Update

Peru:

During the first quarter, 2,053 meters of surface exploration was completed in the Yauricocha Medio (1,095 meters), Kilcasca (449 meters), Exito (373 meters) and Fortuna (136 meters) zones;

Underground exploration continued during Q1 2022 with the aim to replace and increase mineral resources. Approximately 4,213 meters of drilling was completed mainly in France Chert, Adrico Sur and Amoeba zones;

Drilling during the first quarter allowed for the recent discovery of the Fortuna zone, which belongs to system of high-grade polymetallic bodies associated with structural traps. A structural analysis of the area as well as further drilling is required, to understand the patterns for the presence of this type of orebody. A program of at least 1,500 meters of additional drilling is proposed.

An analysis of the structural patterns within the Fortuna orebody with a review of geophysical information to look for correlations, can allow for important targets for future additional drilling.

Mexico:

Bolivar

At Bolivar during Q1 2022, 19,739 meters were drilled from surface including 780 meters drilled in the Bolivar West, 13,353 meters in the Bolivar North-West and 441 meters in the Gallo Inferior encountering skarn intersections with mineralization in all the zones. Additionally, infill drilling of 2,078 meters was completed in the Bolivar West zone and 3,087 meters in the Gallo Inferior (Mina de Fierro).

Additional exploration will focus on 2 areas:

Bolivar East, an area of high grade zinc, silver and gold. The Company is currently carrying out geochemistry analysis as well as a review of geophysics with the aim of initiating a drilling campaign later this year; and

La Sidra, a high grade epithermal system of silver and gold. Necessary drilling permits are already in place for this zone. The zone lies within close proximity to current operations, potentially allowing for improved mineral value to support the Bolivar mine.

Cusi

During Q1 2022, the Company completed 7,092 meters of infill drilling to support the development of the Santa Rosa de Lima vein and NE Trend.

The exploration focus in the short term is to continue investigating the NE SW system as it has significant potential, both laterally and at depth.

Covid-19
Update

The COVID-19 pandemic has impacted the Company’s operations, and this is reflected in delays in mine development and preparation of areas for mining and consequent lower head grades. Lower volume of sales is a result of decrease in concentrate production attributable to lower grades. Costs are also negatively impacted mainly due to indirect fixed costs which have to be incurred, despite lower production. The Company continues to take proactive and reactive mitigation measures to minimize any potential impacts COVID-19 may have on its employees, communities, operations, supply chain, and finances.

During the quarter ended March 31, 2022, the Company has continued its efforts to safeguard the health of its employees, while continuing to operate safely. During this quarter, the company still suffered some delays in mine development leading to lower head grades, and forced deferral of some exploration and capital projects.

Due to the current vaccination efforts at Yauricocha, 100% of onsite personnel have been vaccinated with three doses, significantly reducing any further risk of serious infection caused by COVID. The Company is constantly updating its guidelines by closely following the health updates issued by the Peruvian government.

In Mexico, there has been significant progress with the vaccination program. Currently, most personnel at Bolivar and Cusi are vaccinated with at least two doses with plans to achieve full vaccination with three doses by the end of Q3 2022.

Conference
Call and Webcast

Sierra Metals’ senior management will host a conference call on Thursday, May 12, 2022, at 11:00 AM (EDT) to discuss the Company’s financial and operating results for the three months ended March 31, 2022.

Via
Webcast:

A live audio webcast of the meeting will be available on the Company’s website:

https://event.on24.com/wcc/r/3724262/ABA56A91A50DA5A991E18125DC207388

The webcast, along with presentation slides, will be archived for 180 days on www.sierrametals.com.

Via
phone:

For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.

US/CAN dial-in number (Toll Free): 1 844 200 6205
US dial-in number (Local): 1 646 904 5544
Canada dial-in number (Local): 1 226 828 7575
All other locations: +1 929 526 1599
Access code: 020167
Press *1 to ask a question, *2 to withdraw your question, or *0 for operator assistance.

Qualified
Persons

Américo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning, is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

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 date of the 2021 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. 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/20220511005888/en/

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

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

Luis
Marchese
CEO

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

Source: Sierra Metals Inc.

Endeavour Silver Announces Strong Q1 2022 Financial and Operating Results with Earnings Per Share of $0.07

Research, News, and Market Data on Endeavour Silver

Highlights	Three Months Ended March 31
	2022	2021	% Change
Production
Silver ounces produced	1,314,955	1,048,100	25%
Gold ounces produced	8,695	11,109	(22%)
Payable silver ounces produced	1,303,540	1,036,710	26%
Payable gold ounces produced	8,549	10,894	(22%)
Silver equivalent ounces produced (2)	2,010,555	1,936,820	4%
Cash costs per silver ounce (2)	10.21	7.86	30%
Total production costs per ounce (2)	15.13	15.41	(2%)
All-in sustaining costs per ounce (2)	20.90	19.94	5%
Processed tonnes	206,147	209,453	(2%)
Direct operating costs per tonne (2)	122.86	112.36	9%
Direct costs per tonne (2)	148.53	126.23	18%
Silver co-product cash costs (2)	15.18	15.16	0%
Gold co-product cash costs (2)	1,226	950	29%
Financial
Revenue ($ millions)	57.7	34.5	67%
Silver ounces sold	1,717,768	623,379	176%
Gold ounces sold	8,381	10,663	(21%)
Realized silver price per ounce	24.38	27.17	(10%)
Realized gold price per ounce	1,970	1,703	16%
Net earnings ($ millions)	11.7	12.2	(5%)
Adjusted net earnings (loss) (2) ($ millions)	11.7	(4.5)	357%
Mine operating earnings ($ millions)	20.3	5.7	258%
Mine operating cash flow before taxes (2) ($ millions)	26.7	13.3	101%
Operating cash flow before working capital changes (2)	20.6	5.2	293%
EBITDA (2) ($ millions)	25.6	24.0	7%
Working capital (2) ($ millions)	168.4	113.1	49%
Shareholders
Earnings per share – basic ($)	0.07	0.08	(13%)
Adjusted earnings (loss) per share – basic (8) ($)	0.07	(0.03)	339%
Operating cash flow before working capital changes per share (2)	0.12	0.03	266%
Weighted average shares outstanding	171,557,220	159,670,842	7%

Date & Time:		Wednesday, May 11, 2022 at 10:00 a.m. PT / 1:00 p.m. ET
Telephone:		Toll-free in Canada and the US +1-800-319-4610 Local or International +1-604-638-5340 Please allow up to 10 minutes to be connected to the conference call.
Replay:		A replay of the conference call will be available by dialing (toll-free) +1-800-319-6413 in Canada and the US (toll-free) or +1-604-638-9010 outside of Canada and the US. The replay passcode is 8312#. The replay will also be available on the Company’s website at www.edrsilver.com .

Image Credit: Kim Alaniz (Flickr)

Will Reduced Diamond Production in Europe Bode Well for Producers Elsewhere?

They say that if the economy is faltering that you should invest in hard assets, or companies that produce them. Hard asset investing can include commodities like gold, silver, and platinum with value extending to equities of producers of these durable metals. It may also include collectibles like fine art and diamonds and other gemstones. In the case of diamonds, the axiom extends to producers (mining companies) as well.

Diamond Supply Side Down

Demand for diamonds did not dip during the pandemic, sales just moved from brick and mortar to online purchases. So the pace remained consistent, which is usuall at about the same pace they are consumed. Diamonds are scarce, so by definition, supply is typically tight. But, the recent Russia/Ukraine issues have had an impact since 30-35% of the worlds diamonds that once were sold out of Russia are off now limits. 

Diamond Price Index (DPI) provided by diamondse.info, June 2009 – May 2022

Taking up the Slack

With demand remaining consistent at 130 million carats per year and supply being significantly pinched, those able to supply diamonds stand to fare much better than other years since the unmet need for diamonds from non-conflict areas is likely to be much stronger as a result.

When people in North America think of diamond mining, they usually think of South Africa, not Europe. The impact of what is going on in Europe is not interrupting operations in South Africa’s ability to add new diamonds to market.

One junior diamond mining company which has a well-established prior operational and production history in South Africa, extensive prior experience supplying rough diamonds to the world market, and a long-established alliance with Tiffany & Co., DeBeers, and others is Diamcor Mining Inc. (DMIFF,
DMI:CA).

Diamcor’s focus is on idetification, acquisition, and operation of diamond projects with near term production potential. This allows this company to avoid the high risks and costs associated with traditional exploration.

In a video from the recent NobleCon18, Dean Taylor, CEO of Diamcor Mining discussed that his company is production-focused, bringing supply of raw diamonds to sellers. In addition to having a strategic alliance with Tiffany’s the retailer is also a shareholder of the company.

To gain deeper understanding of the supply factors impacting world diamond production and partnerships, as well as Diamcor’s business specifically and value, watch the video here. 

Take-Away

As we have seen with other industries that impact our everyday life at the grocery store, gas stations, and elsewhere, geopolitical events have an effect on prices and company earnings. Diamonds and gemstones are not what is being discussed when we chat over the fence with our neighbors, but this may mean that the opportunities have not yet been recognized by the investing masses.

Paul Hoffman

Managing Editor, Channelchek

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Diamcor Mining (DMIFF) NobleCon18 Presentation Replay

Sources

https://www.aljazeera.com/economy/2022/5/9/angolas-endiama-says-sanctions-against-russia-could-hurt-its-diamond-operations

http://www.diamcormining.com/investors/diamond-information/

https://www.diamondse.info/diamonds-price-index.asp

 

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