Category: Natural Resources

Release – Allegiant Initiates Plan-of-Operations at Castle Area to Further Expand Permitted Area at Eastside

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Allegiant Initiates Plan-of-Operations at Castle Area to Further Expand Permitted Area at Eastside

Research, News, and Market Data on Allegiant Gold

Reno, Nevada /April 12, 2022 – Allegiant Gold Ltd. (“Allegiant”
or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of a Plan-of-Operations at the Castle Area within their Flagship Eastside Project near Tonopah, Nevada expanding the potential permitted area to approximately 1,648 acres. 

The Castle Area is comprised of 130 claims encompassing an area of approximately 2,600 acres, and includes four deposits: Berg, Blackrock, Boss and Castle.  The Castle Area denotes the southernmost part of Allegiant’s Eastside Project and is contiguous to the other claims at Eastside.  In late 2020 and early 2021, Allegiant drilled 49 reverse circulation (“RC”) holes at the Castle Area for a total of 5,850 metres with the following highlights:

  • 47 holes encountered mineralization within 45m from surface;
  • Significant intercepts included:
    • 5m of 1.85 g/t Au from Hole ES-196
    • 14m of 1.08 g/t Au from Hole ES-202
    • 4.5m of 2.32 g/t Au from Hole ES-211
    • 3.6m of 2.00 g/t Au from Hole ES-216
    • 1.5m of 3.86 g/t Au from Hole ES-222

The Castle Area hosts an inferred resource of 314,000
gold ounces at 0.48 g/t within a pit-constrained model using a cut-off grade of 0.15 g/t gold, US$1,750/ounce gold price and a US$21.88 silver price.*

Peter Gianulis, CEO of
Allegiant Gold, commented: “The commencement of a Plan-of-Operations is an important next step in the development of the Castle Area at Eastside allowing us to dramatically increase drilling and technical work.  We have applied to expand the permitted area from 5 acres to over 1648 acres.  Our goal at the Castle Area in the next stage of exploration will be to expand the existing resource, upgrade a portion from Inferred to Measured and Indicated, as well as conduct more advanced metallurgical work in anticipation of an eventual preliminary economic assessment.”

*Eastside Resource Estimate
The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) was conducted by Mine Development Associates (“MDA”) of Reno, Nevada with an effective date of July 30, 2021.  Contained pit-constrained Inferred Resources (cut-off grade of 0.15 g/t) of 1,090,00 Au ounces at 61,730,000 tonnes at 0.55 g/t Au and 8,700,000 Ag ounces at 4.4 g/t Ag at the Original Pit Zone and 314,000 Au ounces at 19,986,000 tonnes at 0.49 g/t Au at the Castle Area. In accordance with NI 43-101 the MDA Technical Report dated July 30, 2021 is filed on SEDAR.  This report builds on and supersedes the NI 43-101 reports of Ristorcelli (December 2016), Ristorcelli (July 2017) and Ristorcelli (January 2020) titled “Resource
Estimate and Technical Report, Eastside Gold-Silver Project, Esmeralda County,
Nevada” prepared for Allegiant with an Effective Date of July 25, 2017. 

MAP 1: CASTLE AREA PERMIT AREA

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



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



ON BEHALF OF THE BOARD
Peter Gianulis
CEO

 

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


ir@allegiantgold.com



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.

Release – Cypress Development Reports Water Rights Petition Dismissed

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Cypress Development Reports Water Rights Petition Dismissed

Research, News, and Market Data on Cypress Development

April 11, 2022 – Vancouver, Canada – Cypress
Development Corp. (TSXV:
CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to report the Company has been informed that the petition for judicial review of the Nevada State Engineer’s extension of Water Right Permit 44411 and Certificate 13631 (the “Permit”) was dismissed with prejudice by the Fifth Judicial Court of Esmeralda County, Nevada.

The Company acquired the Permit from Intor Resources Corporation (“Intor”), a subsidiary of Nevada Sunrise Gold Corp., for use at the Company’s Clayton Valley Lithium Project, in Nevada (see news
release dated December 8, 2021). The Permit allows for the appropriation of the public waters of the State of Nevada in the amount of 1,770 acre-feet of groundwater per year for mining, milling and domestic use.  This amount represents the largest single volume of permitted water available in the Clayton Valley, which is a fully appropriated hydrogeographic basin.

Intor submitted an Application for Extension of Time to Prevent Forfeiture of the Permit on July 29, 2021. The extension was approved by the State Engineer on November 2, 2021. With the court order, the State Engineer’s approval is final and binding, and the extension is valid until August 28, 2022.

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

ON BEHALF OF CYPRESS DEVELOPMENT CORP.

WILLIAM WILLOUGHBY, PhD., PE

President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President, Investor Relations
D: +1 604 764 1851 | Toll : 1 800 567 8181 | scacos@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com

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

Cautionary Note Regarding Forward-Looking
Statements

This release includes certain statements that may be deemed
to be “forward-looking statements”. Forward-looking statements
are subject to risks, uncertainties and assumptions and are identified by words
such as “expects,”
“estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and
other similar words. All statements in this release, other than statements
of historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from
those in the forward-looking statements. The Company undertakes no obligation
to update these forward-looking statements if management’s beliefs, estimates
or opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration, and development successes, continued availability
of capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com

Lithium Inflation and Availability Concerns Elon Musk

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Image credit: Steve Jurvetson (Flickr)


Elon Musk Does Not Want Lithium Production Levels to Stall the Growth of Tesla

 

Is the pace of lithium extraction going to continue to be a drag on EV manufacturing? Elon Musk, CEO of Tesla (TSLA), has no intention of allowing lithium costs or availability to depress his EV company’s growth. In one of his more serious tweets, Musk mentions the challenge of securing supply for Lithium-ion batteries and hints at a possible solution for the company he founded.

Musk was commenting on a Tweet from World of Statistics, which showed the price of lithium over the past ten years has risen from $4,450/tonne to $78,032/tonne today. Musk’s tweet offered a possible solution for Tesla to get ahead of the supply issue (a tonne, or metric Ton, is equal to 1000kg, about 2,205 pounds).

Musk’s Lithium Comment

In his tweet he mentions how “insane” the price of lithium has become. He also points out that the world has enough of the mineral, but extracting and refining hasn’t been able to keep up with growing needs. The CEO even suggested that Tesla might get into the mining business to help resolve shortages of the critical element used in li-ion batteries.

If Tesla also mined and refined needed raw materials to make sure production growth doesn’t stall, it would be unique in car company history. And, from an investor’s standpoint, it opens questions. We recently experienced how the chip shortage created havoc for car companies and buyers. One missing ingredient can prevent manufacturing at the ideal pace to meet consumer demand. Will locking up long-term lithium supply become standard? Will Tesla and other auto companies integrate supplying themselves with materials become part of who survives in the EV era and who doesn’t? What does this mean for li-ion-related stocks?

 

 

“Insane Levels”

Benchmark lithium prices are at about $78,000/tonne; this is an 80% increase from January 1st. Barrons tracks the price for a basket of lithium battery elements and has reported that it is up 60% on the year (April 2022). This increase adds on average another $2,000 to the price of an EV. Most materials to manufacture batteries (copper, cobalt, nickel, lithium) are secured on a contract basis. This helps smooth unexected changes allowing companies to better predict future costs.

Looking Forward

In a later tweet Musk wrote, “we have some cool ideas for sustainable lithium extraction [and] refinement.” Which will be worth watching. In the interim, lithium mining stocks are up 20-30% this year. Many are playing catch-up and and building their capacity to meet EV demand growth. The miners are behind the growth curve, but that isn’t because of a shortage of the mineral.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Lithium Prices Continue Their Ascent

Enough US Produced Lithium to Exceed Today’s Demand





Lithium-Ion Power vs Hydrogen Fuel Cell

Michael Burry Sees Positive in Elon Musk’s Twitter Stake

 

Sources

Twitter/ElonMusk/Lithium

https://www.barrons.com/articles/tesla-evs-inflation-metals-nickel-prices-51646744059?mod=article_inline

https://www.teslarati.com/tesla-lithium-mining/

 

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Comstock Mining (LODE) Scheduled to Present at NobleCon18 Investor Conference

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Allegiant Gold (AUXXF)(AUAU:CA) – Poised for a Breakout Year

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Friday, April 08, 2022

Allegiant Gold (AUXXF)(AUAU:CA)
Poised for a Breakout Year

Allegiant Gold is a mid-stage exploration stage company with 10 highly prospective projects in the southwest United States, including 7 projects in the State of Nevada. Allegiant’s flagship project is Eastside, a district-scale project in Nevada with inferred resources of 1.4 million gold and 8.8 million silver ounces of inferred resources and significant potential to add size and scale. The company’s shares trade on the TSX Venture Exchange under the ticker symbol “AUAU” and on the OTCQX under the ticker symbol “AUXXF.”

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

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

    Drill is turning. Allegiant Gold recently began its drilling at Eastside and has expanded the program to over 14,000 meters from 12,000 meters of drilling. Allegiant intends to drill up to 30 reverse circulation holes to an average depth of 200 meters in the East Pediment area immediately east of the Original Pit Zone. The rig will then be moved to the West Anomaly where 10 reverse circulation holes will be drilled with an average depth of 300 meters. Core drilling will begin in early May to test the high-grade zone within the western edge of the original pit zone. We expect two rigs to be in operation at Eastside through the remainder of the year.

    High grade zone could be a game changer.  Recall that in May 2021, results from Allegiant’s nine-hole drill program returned strong gold intercepts for Holes 239, 243, 244, and 245. With the recent C$4.0 million investment by Kinross Gold Corporation (NYSE: KGC, TSX: K), along with its technical advisory support, deeper core drilling will help to better assess Eastside’s high-grade potential. While …

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. 

 

Release – Comstock Announces New Director Nominations for 2022

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Comstock Announces New Director Nominations for 2022

Research, News, and Market Data on Comstock Mining

 

VIRGINIA CITY, Nev., April 07, 2022 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the nominations of both Ms. Kristin M. Slanina, 52, and its President & CFO, Mr. Kevin E. Kreisler, 49, to stand for election for its Board of Directors at Comstock’s next Annual General Meeting (“AGM”) to be held on May 26, 2022, in Reno, Nevada.

Ms. Slanina is currently the Chief Innovation Officer of Parkmyfleet, creating end-to-end electric vehicle (EV) mobility hubs that include on-site power generation, storage, software, infrastructure and battery recycling. She spent over two decades at Ford Motor Company, including 10 years in core engine engineering, when she transitioned into strategy, planning and advanced technology and was a key architect of the Ford Future of Mobility Blueprint, outlining how connected, autonomous and electric technologies can change the way people and goods move. She restructured and led Fiat-Chrysler’s fuel economy, greenhouse gas plan where she was the director of propulsion strategy. She was also an Executive Director at Ernst & Young, leading their future of mobility practice and brings Comstock over 30 years of leadership in innovation, electrification, mobility, and engineering. Ms. Slanina is a graduate of the Massachusetts Institute of Technology, (B.S. and M.S. in Mechanical Engineering) with a minor in French. She is also a board and committee member at Velodyne Lidar.

“Kristin is an innovator and remarkably, the first female engineer in Ford of Germany. She is a champion who supports women at all career levels, having voluntarily mentored hundreds of female professionals throughout her career. Her supply chain knowledge around the current electrification transition should prove invaluable,” stated Mr. Corrado De Gasperis, Executive Chairman and CEO.

Mr. Kreisler joined Comstock as its president and chief financial officer in September 2021, with an extensive background in hazardous waste, renewable fuels, agriproducts, intellectual property development, and scaling commercial production processes. He has led the development of early-stage technologies, with an emphasis on innovation and breakthroughs and practical, systemic decarbonization solutions that leverage existing infrastructure for globally-meaningful sustainability gains. Mr. Kreisler is a graduate of Rutgers University College of Engineering (B.S., Civil and Environmental Engineering), Rutgers Graduate School of Management (MBA), and Rutgers University School of Law (J.D.).

“We have transformed Comstock into a renewable energy company, enabling systemic decarbonization through our Cellulosic Fuels (Comstock Fuels) and Electrification Products (LiNiCo) businesses. Kevin and Kristin bring us extensive knowledge of these industrial supply chains, with added engineering, environmental, and public company governance experience that complements and expands our existing board’s competencies. Our whole board welcomes their contributions,” concluded Mr. De Gasperis.

The Company’s 2022 AGM has been scheduled for Thursday, May 26, 2022, at 9:00 a.m. PDT in Reno, Nevada, at the Atlantis Hotel. The meeting will feature Comstock’s renewable businesses and highlight the Company’s board and expanded senior management teams, including Ms. Slanina and Mr. Kreisler.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting massive supplies of 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.

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.

Comstock Chairman & CEO Corrado De Gasperis provides a preview of their upcoming presentation at NobleCon18

NobleCon18 – Noble Capital Markets 18th Annual Small and Microcap Investor Conference – April 19-21, 2022 – Hard Rock, Hollywood, FL 100+ Public Company Presentations | Scheduled Breakouts | Panel Presentations | High-Profile Keynotes | Educational Sessions | Receptions & Networking Events

Free Registration Available – More Info


Research News and Advanced Market Data on LODE


NobleCon18 Presenting Companies

About Comstock

Comstock Mining Inc. (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting massive supplies of 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.

Contact information:		    
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
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  

Comstock Announces New Director Nominations for 2022

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Comstock Announces New Director Nominations for 2022

Research, News, and Market Data on Comstock Mining

 

VIRGINIA CITY, Nev., April 07, 2022 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the nominations of both Ms. Kristin M. Slanina, 52, and its President & CFO, Mr. Kevin E. Kreisler, 49, to stand for election for its Board of Directors at Comstock’s next Annual General Meeting (“AGM”) to be held on May 26, 2022, in Reno, Nevada.

Ms. Slanina is currently the Chief Innovation Officer of Parkmyfleet, creating end-to-end electric vehicle (EV) mobility hubs that include on-site power generation, storage, software, infrastructure and battery recycling. She spent over two decades at Ford Motor Company, including 10 years in core engine engineering, when she transitioned into strategy, planning and advanced technology and was a key architect of the Ford Future of Mobility Blueprint, outlining how connected, autonomous and electric technologies can change the way people and goods move. She restructured and led Fiat-Chrysler’s fuel economy, greenhouse gas plan where she was the director of propulsion strategy. She was also an Executive Director at Ernst & Young, leading their future of mobility practice and brings Comstock over 30 years of leadership in innovation, electrification, mobility, and engineering. Ms. Slanina is a graduate of the Massachusetts Institute of Technology, (B.S. and M.S. in Mechanical Engineering) with a minor in French. She is also a board and committee member at Velodyne Lidar.

“Kristin is an innovator and remarkably, the first female engineer in Ford of Germany. She is a champion who supports women at all career levels, having voluntarily mentored hundreds of female professionals throughout her career. Her supply chain knowledge around the current electrification transition should prove invaluable,” stated Mr. Corrado De Gasperis, Executive Chairman and CEO.

Mr. Kreisler joined Comstock as its president and chief financial officer in September 2021, with an extensive background in hazardous waste, renewable fuels, agriproducts, intellectual property development, and scaling commercial production processes. He has led the development of early-stage technologies, with an emphasis on innovation and breakthroughs and practical, systemic decarbonization solutions that leverage existing infrastructure for globally-meaningful sustainability gains. Mr. Kreisler is a graduate of Rutgers University College of Engineering (B.S., Civil and Environmental Engineering), Rutgers Graduate School of Management (MBA), and Rutgers University School of Law (J.D.).

“We have transformed Comstock into a renewable energy company, enabling systemic decarbonization through our Cellulosic Fuels (Comstock Fuels) and Electrification Products (LiNiCo) businesses. Kevin and Kristin bring us extensive knowledge of these industrial supply chains, with added engineering, environmental, and public company governance experience that complements and expands our existing board’s competencies. Our whole board welcomes their contributions,” concluded Mr. De Gasperis.

The Company’s 2022 AGM has been scheduled for Thursday, May 26, 2022, at 9:00 a.m. PDT in Reno, Nevada, at the Atlantis Hotel. The meeting will feature Comstock’s renewable businesses and highlight the Company’s board and expanded senior management teams, including Ms. Slanina and Mr. Kreisler.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting massive supplies of 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.

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
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  

Defense Metals (DFMTF)(DEFN:CA) – Keeping the Momentum Going

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Wednesday, April 06, 2022

Defense Metals (DFMTF)(DEFN:CA)
Keeping the Momentum Going

Noble Capital Markets research on Defense Metals Corp. is published under ticker symbols DFMTF and DEFN:CA. The price target for DFMTF is in USD and the price target for DEFN:CA is in CAD. 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 of Natural Resources, Noble Capital Markets, Inc.

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

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

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

 

Cypress Development (CYDVF)(CYP) – Clayton Valley Project to Source Lithium from Nevada Claystone

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Wednesday, April 06, 2022

Cypress Development (CYDVF)(CYP)
Clayton Valley Project to Source Lithium from Nevada Claystone

Cypress Development Corp is a Canadian exploration company. It is principally engaged in the acquisition, exploration, and evaluation of resource properties. The company holds an interest in Clayton Valley Lithium Project and Gunman Zinc / Silver Project which are located in Nevada. The company operates through the single segment being The Acquisition and exploration of mineral properties.

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

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

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. 

 

Release – Defense Metals Closes Private Placement Financing

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Defense Metals Closes Private Placement Financing

News, and Market Data on Defense Metals

 

News Release – Vancouver, British Columbia – April 5, 2022:Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce that it has closed a non-brokered private placement (the “Private Placement”) for gross proceeds of $4,558,049.57, consisting of 6,340,057 flow-through common shares of the Company (each, a “FT Share”) at a price of $0.35 per FT Share and 8,996,267 units of the Company (each, a “Unit”) at a price of $0.26 per Unit.  

Each FT Share is a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Act”). Each Unit consists of one common share of the Company and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.40 for a period of 24 months from the date of issuance, provided that if after four months from the date of issue and prior to the expiry of the Warrants, the closing price of the common shares of the Company is equal to or greater than $0.60 for a period of 15 consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by giving notice to the holders that the Warrants will expire 15 days from the date of notice.  

The proceeds of the Private Placement will be used for the exploration and development of the Company’s Wicheeda Rare Earth Element Project located near Prince George, British Columbia and for general working capital purposes.

In connection with the Private Placement, the Company paid aggregate cash finder’s fees of $162,152.92 and issued 487,087 non-transferable finder warrants to Leede Jones Gable Inc., Qwest Investment Fund Management Ltd., Accilent Capital Management Inc., iA Private Wealth Inc., Haywood Securities Inc., Canaccord Genuity Corp., Research Capital Corporation and Glores Securities Inc. The finder warrants are exercisable for a period of 24 months from issuance at a price of $0.35 per share.

An insider-director of the Company subscribed for 60,000 Units, which participation constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 pursuant to subsections 5.5(b) and 5.7(1)(a) as the Company’s common shares are not listed on a specified market and the fair market value of the securities acquired do not exceed 25% of the Company’s market capitalization. 

All securities issued under the Private Placement are subject to a four month hold period in accordance with applicable securities laws.

About the Wicheeda REE Project

The 100% owned 2,008-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% IRR[1]. 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.

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.

About the Company

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”.

Contact Information – For more 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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 that address the Private Placement, use of proceeds, other statements relating to the technical, financial, and business prospects of the Company, its projects, 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 metals, anticipated costs and the ability to achieve 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, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. 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 and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. There is a possibility that future exploration, development or mining results will not be consistent with the Company’s expectations. 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, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, the price of metals and commodity price fluctuations, failure to maintain community acceptance (including First Nations), increase in costs, 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.

[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).

Release – Maple Gold Reports Fall 2021 Drill Results at Douay

Posted on by Admin



Maple Gold Reports Fall 2021 Drill Results at Douay, Including 4.63 g/t Gold over 6.7 Metres Within 1.54 g/t Gold over 32.2 Metres at the 531 Zone, and Makes Equity Incentive Plan Grants

Research, News, and Market Data on Maple Gold Mines

 

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report final assay results from the Fall 2021 drill program at the Company’s Douay Gold Project (“Douay” or the “Project”) in Quebec, Canada, which is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited. The JV completed a total of seven (7) holes and roughly 3,420 metres (“m”) under the Fall 2021 drill program, with every hole intersecting multiple intervals of >1 gram per tonne gold (“g/t Au”).

Highlights:

“Our exploration team has delivered significant drill intercepts every year at the 531 Zone since 2019 when our targeting became supported by 3D modelling,” stated Fred Speidel, VP Exploration of Maple Gold. “These new intercepts further support our belief that there are multiple stacked gold zones with apparent cross-plunges that appear to be structurally controlled. Demonstrated gold mineralization combined with a general lack of drilling has our team excited about the potential for the 531 Zone to deliver additional pit-constrained and underground resources as we continue with larger step-out and deeper drilling in 2022.”

Fall 2021 Drill Program Interpretation and Summary of Results

The JV’s Fall 2021 drill program included drilling in three separate areas (see Figure 1 for drill hole locations) outlined below with corresponding objectives:

  1. 531 Zone (3 holes): Targeting further up-plunge and down-plunge along one of the two main interpreted mineralized trends (see Figure 2).
  2. Central Zone (2 holes): Located 450 m and 650 m east of the SLR 2022 Central Zone conceptual pit and designed to test the eastern continuity of sediment-hosted gold mineralization and support further drilling along a 700 m drilling gap (see Figure 1).
  3. Nika Zone / Porphyry Zone Gap Area (2 holes): The Porphyry Zone and Nika Zone are geologically similar and these two drill holes were drilled in the gap area between these two zones and their respective SLR 2022 conceptual pits.



Figure 1: Douay plan view map highlighting Fall 2021 drill hole locations

The 531 Zone has several geological similarities to the Douay West Zone; however, the former has seen significantly less drilling to-date (see Figure 1) and represents an opportunity to expand resources with mineralization remaining open in multiple directions.

Figure 2: North-looking 531 Zone section (50 m total width) with SLR 2022 resource blocks and drill hole locations.

Figure 2 shows gold mineralization extending down-plunge over 300 m from D-93-08 through DO-21-317 to beyond DO-21-316 and then to 70531 (the original 531 Zone discovery hole). Mineralization remains open along both trends (blue and red arrows) at the 531 Zone. Apart from historical drillholes D-92-41 (2.0 g/t Au over 22.9 m) and D-93-08 (1.52 g/t Au over 13.7m), there is no drilling up-plunge to test at shallower depths on this section (see Figure 2 above) leaving mineralization open toward surface. DO-21-319 (2.12 g/t Au over 2.20 m, including 3.56 g/t Au over 1.5 m and 1.44 g/t Au over 5 m, including 2.47 g/t Au over 2.0 m) was an approximately 160 m step-out drill hole (mostly off section in Figure 2) that appears to have just intersected the lower edge of westerly-plunging mineralization in this area, which warrants follow-up drilling.

A second, roughly perpendicular trend or “cross-plunge”, currently less defined but consistent with the typical easterly-plunging mineralization at Douay, is supported by current geological interpretations and the distribution of SLR 2022 resource blocks. This trend is also open to depth with very little drilling (red arrow), but does include DO-20-262X, one of the most significant holes drilled at 531 Zone (see news releases from June 5, 2019 and March 16, 2020).

The DO-21-316 intercept (1.54 g/t Au over 32.2 m, including 2.13 g/t Au over 18.9 m and 4.63 g/t Au over 6.70 m) is hosted in bleached, massive, and relatively homogenous brecciated mafic intrusive that is geologically similar to the previously reported DO-21-310 intercept (8.8 g/t Au over 28 m) located approximately 135 m up-plunge. The DO-21-317 intercepts (5.58 g/t Au over 3.0 m; 1.62 g/t Au over 16.0 m; and 3.42 g/t Au over 8.0 m) are hosted in altered and mineralized fenitized basalts or interflow sediments, also favourable for gold, and are interpreted as additional stacked gold zones.

The altered mafic (and to a lesser degree sedimentary) host rocks, as observed in drill core, point to the possibility of an additional alkaline intrusive complex beneath the 531 Zone. The JV’s ongoing and planned drilling in 2022 includes larger step-out and deeper drilling to target areas with significant resource expansion potential. Drill testing the 531 Zone at greater depths continues to rank high on the JV’s priority list.

Central Zone drilling intersected multiple narrow zones of mostly sediment-hosted gold mineralization, including multi-gram intercepts in both drill holes. DO-21-318 intersected 2.53 g/t Au over 4.0 m (from 286.0 m downhole); DO-21-315 intersected 1.25 g/t Au over 4.0m (from 260.0 m downhole) and 4.24 g/t Au over 1.0 m (from 362.0 m downhole). Collectively, these two holes confirm that gold mineralization continues well to the east of the current SLR 2022 Central Zone conceptual pit and support drilling still further to the east along a 700 m drilling gap.

Drilling in the Nika Zone intersected multiple broad intervals of lower-grade mineralization in a gap area with very limited drilling between the Nika and Porphyry Zones (see Figure 1 and Table 1). This gap area has a similar magnetic signature as the centre of the Nika Zone (some 500 m to the northwest) where hole DO-21-282X intersected 1.58 g/t Au over 132 m (see news release from May 26, 2021). Given the general lack of drilling within this gap area, and particularly the presence of near-surface gold mineralization starting at top of bedrock, the results will be further interpreted with the aim of vectoring in towards larger near-surface concentrations of >1 g/t Au mineralization.

Complete Fall 2021 drill program results at Douay are included in Table 1 below.




Table 1 – Summary of Fall 2021 Drill Program Results at Douay

Notes: All intervals are downhole core lengths. True widths estimated to be approximately 70-90% of core lengths.

Annual Equity Incentive Plan Grants

Pursuant to its Equity Incentive Plan (the “Plan”) dated December 17, 2020 and the policies of the TSX Venture Exchange, the Company has granted stock options (“Options”), Restricted Share Units (“RSUs”) and Deferred Share Units (“DSUs”) to certain employees, officers and directors of the Company.

Options to purchase an aggregate of 3,500,000 common shares of the Company (each, a “Common Share”) were granted, with an exercise price of $0.42 per Common Share. Each Option grant vests one-third on the date of the grant, one-third 12 months from the date of the grant and one-third 24 months from the date of the grant. Once vested, each Option is exercisable into one Common Share for a period of five years from the date of the grant.

The Company also granted a total of 3,530,000 RSUs and 900,000 DSUs. Each RSU grant vests one-third on April 30, 2022, one-third 12 months from the date of the grant and one-third 24 months from the date of the grant. Once vested, each RSU and DSU entitles the holder thereof to receive either one Common Share, the cash equivalent of one Common Share or a combination of cash and Common Shares, as determined by the Company, net of applicable withholdings.

Further details regarding the Plan are set out in the Management Information Circular of the Company filed on May 19, 2021, which is available on SEDAR.

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 JV implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drillhole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to ALS laboratories in Val-d’Or, QC; 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 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.

Maple Gold Reports Fall 2021 Drill Results at Douay, Including 4.63 g/t Gold over 6.7 Metres Within 1.54 g/t Gold over 32.2 Metres at the 531 Zone, and Makes Equity Incentive Plan Grants

Posted on by Admin



Maple Gold Reports Fall 2021 Drill Results at Douay, Including 4.63 g/t Gold over 6.7 Metres Within 1.54 g/t Gold over 32.2 Metres at the 531 Zone, and Makes Equity Incentive Plan Grants

Research, News, and Market Data on Maple Gold Mines

 

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report final assay results from the Fall 2021 drill program at the Company’s Douay Gold Project (“Douay” or the “Project”) in Quebec, Canada, which is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited. The JV completed a total of seven (7) holes and roughly 3,420 metres (“m”) under the Fall 2021 drill program, with every hole intersecting multiple intervals of >1 gram per tonne gold (“g/t Au”).

Highlights:

“Our exploration team has delivered significant drill intercepts every year at the 531 Zone since 2019 when our targeting became supported by 3D modelling,” stated Fred Speidel, VP Exploration of Maple Gold. “These new intercepts further support our belief that there are multiple stacked gold zones with apparent cross-plunges that appear to be structurally controlled. Demonstrated gold mineralization combined with a general lack of drilling has our team excited about the potential for the 531 Zone to deliver additional pit-constrained and underground resources as we continue with larger step-out and deeper drilling in 2022.”

Fall 2021 Drill Program Interpretation and Summary of Results

The JV’s Fall 2021 drill program included drilling in three separate areas (see Figure 1 for drill hole locations) outlined below with corresponding objectives:

  1. 531 Zone (3 holes): Targeting further up-plunge and down-plunge along one of the two main interpreted mineralized trends (see Figure 2).
  2. Central Zone (2 holes): Located 450 m and 650 m east of the SLR 2022 Central Zone conceptual pit and designed to test the eastern continuity of sediment-hosted gold mineralization and support further drilling along a 700 m drilling gap (see Figure 1).
  3. Nika Zone / Porphyry Zone Gap Area (2 holes): The Porphyry Zone and Nika Zone are geologically similar and these two drill holes were drilled in the gap area between these two zones and their respective SLR 2022 conceptual pits.



Figure 1: Douay plan view map highlighting Fall 2021 drill hole locations

The 531 Zone has several geological similarities to the Douay West Zone; however, the former has seen significantly less drilling to-date (see Figure 1) and represents an opportunity to expand resources with mineralization remaining open in multiple directions.

Figure 2: North-looking 531 Zone section (50 m total width) with SLR 2022 resource blocks and drill hole locations.

Figure 2 shows gold mineralization extending down-plunge over 300 m from D-93-08 through DO-21-317 to beyond DO-21-316 and then to 70531 (the original 531 Zone discovery hole). Mineralization remains open along both trends (blue and red arrows) at the 531 Zone. Apart from historical drillholes D-92-41 (2.0 g/t Au over 22.9 m) and D-93-08 (1.52 g/t Au over 13.7m), there is no drilling up-plunge to test at shallower depths on this section (see Figure 2 above) leaving mineralization open toward surface. DO-21-319 (2.12 g/t Au over 2.20 m, including 3.56 g/t Au over 1.5 m and 1.44 g/t Au over 5 m, including 2.47 g/t Au over 2.0 m) was an approximately 160 m step-out drill hole (mostly off section in Figure 2) that appears to have just intersected the lower edge of westerly-plunging mineralization in this area, which warrants follow-up drilling.

A second, roughly perpendicular trend or “cross-plunge”, currently less defined but consistent with the typical easterly-plunging mineralization at Douay, is supported by current geological interpretations and the distribution of SLR 2022 resource blocks. This trend is also open to depth with very little drilling (red arrow), but does include DO-20-262X, one of the most significant holes drilled at 531 Zone (see news releases from June 5, 2019 and March 16, 2020).

The DO-21-316 intercept (1.54 g/t Au over 32.2 m, including 2.13 g/t Au over 18.9 m and 4.63 g/t Au over 6.70 m) is hosted in bleached, massive, and relatively homogenous brecciated mafic intrusive that is geologically similar to the previously reported DO-21-310 intercept (8.8 g/t Au over 28 m) located approximately 135 m up-plunge. The DO-21-317 intercepts (5.58 g/t Au over 3.0 m; 1.62 g/t Au over 16.0 m; and 3.42 g/t Au over 8.0 m) are hosted in altered and mineralized fenitized basalts or interflow sediments, also favourable for gold, and are interpreted as additional stacked gold zones.

The altered mafic (and to a lesser degree sedimentary) host rocks, as observed in drill core, point to the possibility of an additional alkaline intrusive complex beneath the 531 Zone. The JV’s ongoing and planned drilling in 2022 includes larger step-out and deeper drilling to target areas with significant resource expansion potential. Drill testing the 531 Zone at greater depths continues to rank high on the JV’s priority list.

Central Zone drilling intersected multiple narrow zones of mostly sediment-hosted gold mineralization, including multi-gram intercepts in both drill holes. DO-21-318 intersected 2.53 g/t Au over 4.0 m (from 286.0 m downhole); DO-21-315 intersected 1.25 g/t Au over 4.0m (from 260.0 m downhole) and 4.24 g/t Au over 1.0 m (from 362.0 m downhole). Collectively, these two holes confirm that gold mineralization continues well to the east of the current SLR 2022 Central Zone conceptual pit and support drilling still further to the east along a 700 m drilling gap.

Drilling in the Nika Zone intersected multiple broad intervals of lower-grade mineralization in a gap area with very limited drilling between the Nika and Porphyry Zones (see Figure 1 and Table 1). This gap area has a similar magnetic signature as the centre of the Nika Zone (some 500 m to the northwest) where hole DO-21-282X intersected 1.58 g/t Au over 132 m (see news release from May 26, 2021). Given the general lack of drilling within this gap area, and particularly the presence of near-surface gold mineralization starting at top of bedrock, the results will be further interpreted with the aim of vectoring in towards larger near-surface concentrations of >1 g/t Au mineralization.

Complete Fall 2021 drill program results at Douay are included in Table 1 below.




Table 1 – Summary of Fall 2021 Drill Program Results at Douay

Notes: All intervals are downhole core lengths. True widths estimated to be approximately 70-90% of core lengths.

Annual Equity Incentive Plan Grants

Pursuant to its Equity Incentive Plan (the “Plan”) dated December 17, 2020 and the policies of the TSX Venture Exchange, the Company has granted stock options (“Options”), Restricted Share Units (“RSUs”) and Deferred Share Units (“DSUs”) to certain employees, officers and directors of the Company.

Options to purchase an aggregate of 3,500,000 common shares of the Company (each, a “Common Share”) were granted, with an exercise price of $0.42 per Common Share. Each Option grant vests one-third on the date of the grant, one-third 12 months from the date of the grant and one-third 24 months from the date of the grant. Once vested, each Option is exercisable into one Common Share for a period of five years from the date of the grant.

The Company also granted a total of 3,530,000 RSUs and 900,000 DSUs. Each RSU grant vests one-third on April 30, 2022, one-third 12 months from the date of the grant and one-third 24 months from the date of the grant. Once vested, each RSU and DSU entitles the holder thereof to receive either one Common Share, the cash equivalent of one Common Share or a combination of cash and Common Shares, as determined by the Company, net of applicable withholdings.

Further details regarding the Plan are set out in the Management Information Circular of the Company filed on May 19, 2021, which is available on SEDAR.

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 JV implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drillhole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to ALS laboratories in Val-d’Or, QC; 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 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.

Defense Metals Closes Private Placement Financing

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Defense Metals Closes Private Placement Financing

News, and Market Data on Defense Metals

 

News Release – Vancouver, British Columbia – April 5, 2022:Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce that it has closed a non-brokered private placement (the “Private Placement”) for gross proceeds of $4,558,049.57, consisting of 6,340,057 flow-through common shares of the Company (each, a “FT Share”) at a price of $0.35 per FT Share and 8,996,267 units of the Company (each, a “Unit”) at a price of $0.26 per Unit.  

Each FT Share is a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Act”). Each Unit consists of one common share of the Company and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.40 for a period of 24 months from the date of issuance, provided that if after four months from the date of issue and prior to the expiry of the Warrants, the closing price of the common shares of the Company is equal to or greater than $0.60 for a period of 15 consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by giving notice to the holders that the Warrants will expire 15 days from the date of notice.  

The proceeds of the Private Placement will be used for the exploration and development of the Company’s Wicheeda Rare Earth Element Project located near Prince George, British Columbia and for general working capital purposes.

In connection with the Private Placement, the Company paid aggregate cash finder’s fees of $162,152.92 and issued 487,087 non-transferable finder warrants to Leede Jones Gable Inc., Qwest Investment Fund Management Ltd., Accilent Capital Management Inc., iA Private Wealth Inc., Haywood Securities Inc., Canaccord Genuity Corp., Research Capital Corporation and Glores Securities Inc. The finder warrants are exercisable for a period of 24 months from issuance at a price of $0.35 per share.

An insider-director of the Company subscribed for 60,000 Units, which participation constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 pursuant to subsections 5.5(b) and 5.7(1)(a) as the Company’s common shares are not listed on a specified market and the fair market value of the securities acquired do not exceed 25% of the Company’s market capitalization. 

All securities issued under the Private Placement are subject to a four month hold period in accordance with applicable securities laws.

About the Wicheeda REE Project

The 100% owned 2,008-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% IRR[1]. 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.

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.

About the Company

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”.

Contact Information – For more 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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 that address the Private Placement, use of proceeds, other statements relating to the technical, financial, and business prospects of the Company, its projects, 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 metals, anticipated costs and the ability to achieve 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, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. 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 and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. There is a possibility that future exploration, development or mining results will not be consistent with the Company’s expectations. 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, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, the price of metals and commodity price fluctuations, failure to maintain community acceptance (including First Nations), increase in costs, 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.

[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).