Monday, April 4, 2022

Metals & Mining Industry Report

Metals & Mining First Quarter 2022 Review and Outlook

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

Refer to end of report for Analyst Certification & Disclosures

• Mining companies outperform broader market. During the first quarter, mining companies (as measured by the XME) appreciated 36.9% compared to a loss of 4.9% for the S&P 500 index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were up 19.7% and 11.8%, respectively. Gold, silver, copper, and zinc futures prices rose 6.5%, 7.5%, 6.7%, and 20.9%, respectively, while lead was down 0.3%. The war in Ukraine has constrained supplies of commodities, everything from fertilizer, grain, oil, natural gas, and metals, and magnified inflationary trends. How long this will continue is uncertain.

• Outlook for precious metals. The U.S. Dollar Index rose 2.4% during the first quarter, while the yield on a 10-year treasury note rose to 2.33% from 1.51% at year-end 2020. With the U.S. Federal Reserve signaling more aggressive action to combat inflation, further gains for gold may be challenged for the remainder of the year in the face of higher rates and a stronger dollar. However, with consumer and core inflation at 7.9% and 6.4% through February, respectively, real interest rates remain negative and enhance gold’s appeal as a store of value. Moreover, precious metals may be viewed as insurance against expected market volatility and economic uncertainty.

• Risk of slowing economic growth may impact industrial metals. With the Federal Reserve behind the curve on inflation and an unanticipated war stressing commodity markets, choking back demand and growth may be an obvious choice to combat inflation and supply shortages. A key worry is the risk of recession in the U.S. and abroad versus a softer landing. However, improving supply chains, inventory re-stocking, and greater capital spending could be supportive of pricing, and we believe the long-term investment case for owning industrial metals mining companies remains favorable. However, industrial metals may also be challenged to post further gains into the latter part of the year.

• Putting it all together. While much uncertainty remains, including the trajectory of the war in Ukraine, the U.S. Federal Reserve will likely achieve its goal of tamping down inflation. Despite a cautious near-term outlook, precious and industrial metals prices could hold up relatively well despite near-term headwinds. As a means of portfolio diversification, exposure to the mining sector is beneficial and investors may want to consider junior mining companies due to more attractive valuations relative to larger cap peers and the potential for increased M&A and industry consolidation.

GENERAL DISCLAIMERS

All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results. Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.
The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.
Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.”
FINRA licenses 7, 24, 63, 87

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of
transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc.

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

NOBLE RATINGS DEFINITIONS	% OF SECURITIES COVERED	% IB CLIENTS
Outperform: potential return is >15% above the current price	94%	28%
Market Perform: potential return is -15% to 15% of the current price	6%	3%
Underperform: potential return is >15% below the current price	1%	0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same. Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
150 East Palmetto Park Rd, Suite 110
Boca Raton, FL 33432
561-994-1191

Noble Capital Markets, Inc. is a FINRA (Financial Industry Regulatory Authority) registered broker/dealer.
Noble Capital Markets, Inc. is an MSRB (Municipal Securities Rulemaking Board) registered broker/dealer.
Member – SIPC (Securities Investor Protection Corporation)

Allegiant Announces Commencement and Expansion of Drilling Program at Eastside

Research, News, and Market Data on Allegiant Gold

 

RENO, Nev., April 04, 2022 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the arrival of a reverse circulation (“RC”) Drill Rig at Eastside and commencement of drilling. Furthermore, the Company is expanding the drill program from the originally planned 12,000 meters to over 14,000 metres.

Following up on the recently received permitted area expansion, Allegiant plans to drill up to 30 RC holes in the East Pediment area immediately to the east of the Original Pit Zone (“OPZ”) to an average depth of 200 metres. In addition, the Company intends to move the rig to the West Anomaly area of Eastside where approximately 10 RC holes will be drilled to an average depth of 300 metres. The East Pediment drilling targets resistivity highs under shallow, alluvial cover (2-20 m). These resistors have the same geophysical signature as the rhyolite domes hosting most of the gold and silver in the area of past drilling at the Original Pit Zone. The West Anomaly drilling is targeting geochemical anomalies detected by surface sampling where gold values range from 0.5 g/t – 24 g/t gold with attendant pathfinder trace element signatures. To date, there has been no previous drilling on the East Pediment or the West Anomaly.

MAP 1: DRILL TARGETS

https://allegiantgold.com/en/projects/eastside/maps/

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to start the follow-up drill program at Eastside. The recent strategic investment from Kinross Gold has made it possible for us to expand our 2022 drill program to more than 14,000 metres. The commencement of this much anticipated RC program will provide us with an excellent opportunity to expand the existing resource beyond the Original Pit Zone.”

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. Four 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.

Avino President & CEO David Wolfin 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 News and Advanced Market Data on ASM NobleCon18 Presenting Companies About Avino Avino is primarily a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver, gold and copper production remains unhedged. The Company’s mission and strategy is to create shareholder value through its focus on profitable organic growth at the historic Avino Property and the strategic acquisition of mineral exploration and mining properties. We are committed to managing all business activities in a safe, environmentally responsible, and cost-effective manner, while contributing to the well-being of the communities in which we operate. We encourage you to connect with us on Twitter at @Avino and on LinkedIn at Avino Silver & Gold Mines. To view the Avino Mine VRIFY tour, please click here.

Allegiant Announces Commencement and Expansion of Drilling Program at Eastside

Research, News, and Market Data on Allegiant Gold

 

RENO, Nev., April 04, 2022 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the arrival of a reverse circulation (“RC”) Drill Rig at Eastside and commencement of drilling. Furthermore, the Company is expanding the drill program from the originally planned 12,000 meters to over 14,000 metres.

Following up on the recently received permitted area expansion, Allegiant plans to drill up to 30 RC holes in the East Pediment area immediately to the east of the Original Pit Zone (“OPZ”) to an average depth of 200 metres. In addition, the Company intends to move the rig to the West Anomaly area of Eastside where approximately 10 RC holes will be drilled to an average depth of 300 metres. The East Pediment drilling targets resistivity highs under shallow, alluvial cover (2-20 m). These resistors have the same geophysical signature as the rhyolite domes hosting most of the gold and silver in the area of past drilling at the Original Pit Zone. The West Anomaly drilling is targeting geochemical anomalies detected by surface sampling where gold values range from 0.5 g/t – 24 g/t gold with attendant pathfinder trace element signatures. To date, there has been no previous drilling on the East Pediment or the West Anomaly.

MAP 1: DRILL TARGETS

https://allegiantgold.com/en/projects/eastside/maps/

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to start the follow-up drill program at Eastside. The recent strategic investment from Kinross Gold has made it possible for us to expand our 2022 drill program to more than 14,000 metres. The commencement of this much anticipated RC program will provide us with an excellent opportunity to expand the existing resource beyond the Original Pit Zone.”

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. Four 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.

Friday, April 01, 2022

Garibaldi Resources (GGIFF)(GGI:CA)
Geophysical Survey Results Underscore Nickel Mountain’s Growing Resource Potential

Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.

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.

Significant geophysical survey results. Garibaldi released results from a 2021 Z-Axis Tipper Electromagnetic (ZTEM) survey completed over the company’s 180-square kilometer Nickel Mountain – Palm Springs Project claim groups. Recall that E&L Nickel Mountain represents the first magmatic nickel-copper-cobalt-PGE-rich massive sulphide system identified in the Eskay Camp. The survey identified a large anomalous zone directly below and along trend with mineralized E&L Nickel Mountain gabbro previously confirmed by drilling. The anomaly exceeds 3 kilometers in width and plunges 2 kilometers directly below the nickel-copper-cobalt PGE bearing intrusion which hosts high grade massive sulphides. The finding potentially extends the mineralized zone which could have positive implications for resource size and project economics.

Growing property-wide exploration potential.  The presence of ZTEM-identified geophysical anomalies coincident with surface mineralization and conductive targets from Versatile Time Domain Electromagnetic (VTEM) surveys provide property-wide targets for magmatic and hydrothermal base and precious metal mineralization with high discovery potential …

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

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

 

Friday, April 01, 2022

Garibaldi Resources (GGIFF)(GGI:CA)
Geophysical Survey Results Underscore Nickel Mountain’s Growing Resource Potential

Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.

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.

Significant geophysical survey results. Garibaldi released results from a 2021 Z-Axis Tipper Electromagnetic (ZTEM) survey completed over the company’s 180-square kilometer Nickel Mountain – Palm Springs Project claim groups. Recall that E&L Nickel Mountain represents the first magmatic nickel-copper-cobalt-PGE-rich massive sulphide system identified in the Eskay Camp. The survey identified a large anomalous zone directly below and along trend with mineralized E&L Nickel Mountain gabbro previously confirmed by drilling. The anomaly exceeds 3 kilometers in width and plunges 2 kilometers directly below the nickel-copper-cobalt PGE bearing intrusion which hosts high grade massive sulphides. The finding potentially extends the mineralized zone which could have positive implications for resource size and project economics.

Growing property-wide exploration potential.  The presence of ZTEM-identified geophysical anomalies coincident with surface mineralization and conductive targets from Versatile Time Domain Electromagnetic (VTEM) surveys provide property-wide targets for magmatic and hydrothermal base and precious metal mineralization with high discovery potential …

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

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

 

Thursday, March 31, 2022

Comstock Mining (LODE)
Advancing from a Vision to Commercialization

Comstock Mining Inc. is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products.

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.

Core businesses. The company’s renewable fuels division, Comstock Fuels, is advancing technologies to commercialize the conversion of woody biomass into advanced cellulosic fuels. Comstock’s 90%-owned lithium-ion battery recycling business, LiNiCo, intends to commercialize a process to crush and separate lithium-ion batteries, extract lithium, nickel, cobalt, and graphite, and use the recovered metals to produce 99% pure cathode active precursor products. The company appears to be on track to meet milestones that we have discussed in previous notes.

Investor webcast.  Comstock Mining hosted a webcast this week to discuss accomplishments during 2021 and the outlook. The company is still in investment mode as it lays the foundation for future earnings. Management reiterated its goal to generate annual revenues of at least $16 billion by 2030. Comstock is building commercial pilot scale cellulosic fuels and lithium-ion battery (LIB) facilities and …

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. 

 

Chakana Copper President & CEO David Kelley 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 CHKKF NobleCon18 Presenting Companies About Chakana Copper Chakana Copper Corp. is a Canadian based minerals exploration company and through its wholly owned Peruvian subsidiary, Chakana Resources S.A.C., is currently advancing the Soledad project near Aija, in the Ancash region of the highly prolific Miocene mineral belt of Peru.

Waterbury South Uranium Targets Extended in Latest Winter Drill Program

Research, News, and Market Data on CanAlaska Uranium

 

 Strong Clay and Sulfide Alteration Halo Associated With Previously Discovered Polymetallic Uranium Mineralization Extended

 Structurally-Complex Area Identified in Sandstone and Deep Into Basement

 Update on Corporate Activities in the Athabasca Basin and Thompson Nickel Belt

 Vancouver, Canada, March 31, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce the successful completion of the 2022 drilling program at its 100%-owned Waterbury South uranium project. The project is located approximately 10 km southeast of the producing Cigar Lake uranium mine in the Eastern Athabasca Basin (Figure 1).

 

Figure 1 – Property location map for the Waterbury South project.

The drill program was focused on extending and understanding the geological controls of the polymetallic unconformity uranium mineralization associated with nickel, arsenic, cobalt, and zinc, intersected during the previous 2021 winter drill program (see News Release dated June 17, 2021). Program objectives were successfully met with the completion of six drill holes totalling 2,787 metres (m). Results indicate a structurally-complex fault system that extends the footprint of previously intersected strong sandstone and deep basement alteration.

 

Figure 2 – Drillhole section along WAT009 and WAT010 showing the distribution of the strong alteration
and structure in the lower sandstone and basement along the fence.

Drillhole WAT010, drilled along the same fence as WAT009, targeted the unconformity projection of strong faulting intersected in the basement of WAT009. WAT010 intersected the unconformity target approximately 52 m north of WAT009 on section. The drillhole intersected a strongly altered and structured lower sandstone column with strong bleaching, pyrite, clay alteration, secondary hematite, desilicification, and clay-replaced sandstone (Figure 2). Strong bleaching and chlorite alteration extends over 60 m into the basement on WAT 010 and is associated with quartz-carbonate healed breccias that contain brittle reactivation . Based on the intensity of structure and alteration in the sandstone column, WAT010 is interpreted to have overshot the ideal target at the unconformity. The results on this fence from both 2021 and 2022 drilling indicate that strong hydrothermal alteration and fault structures are present above the unconformity and extend deep into the basement indicating the possible presence of a large mineralizing event nearby.

Drillhole WAT012  to the east of WAT010 confirmed the strike extension of strong alteration within WAT009 and WAT010. WAT012 intersected the unconformity approximately 55 m east of WAT009 (Figure 3). The lower sandstone column contains a five metre wide zone of strong hydrothermal alteration including bleaching, patches of strong black sulfide alteration, clay and chlorite, similar to WAT009 and WAT010. The strong bleaching and clay alteration extends into the upper four metres of the basement. Nearly 70 m below the unconformity, a series of 1 to 4 m wide strongly graphitic and re-activated fault zones characterized by broken core and quartz-carbonate healed breccias were intersected indicating further evidence of a major graphitic fault system in the basement. WAT012 is interpreted to have undershot the ideal target at the unconformity. WAT 014 was drilled to test the structural complexity in the area; it intersected bedding-controlled sulfide alteration throughout the lower sandstone column.

 

Figure 3 – Map of the Waterbury South project shows the complex structural relationship between
the drillholes completed to date and the currently defined sandstone alteration.

The drillholes completed during the program show evidence for multiple orientations of re-activated fault structures. These fault structures are parallel and cross-cutting to the basement stratigraphy in the area. In other uranium deposits such as Eagle Point, cross-cutting and splay faults play a very important role in controlling and localizing fluid movement along the main graphitic strucures. In the case of Eagle Point, these cross-cutting and splay structures can be strongly altered and mineralized for several hundred metres away from the mine area. The sandstone and deep basement faults with strong alteration are indicative of the presence of hydrothermal processes generally associated with a uranium mineralizing event. Given the structural complexity encountered in the 2022 program, the Company is investigating use of high resolution geophysical surveys to plan the next phase of drilling.

Geochemical assay results for the 2022 drilling program are pending.

CanAlaska VP Exploration, Nathan Bridge, comments, “The CanAlaska team set out to understand the controls on the previously discovered polymetallic unconformity uranium mineralization in WAT009. The strong alteration system in WAT009, that is host to high-grade nickel-sulfides and associated uranium mineralization, was extended to the east and remains open in several directions. The Waterbury South area is structurally-complex, with multiple fault orientations and deep basement alteration that suggests multiple periods of reactivation and hydrothermal fluid-movement, key to uranium deposit formation in the Athabasca Basin. The results obtained during this drill season are promising and several kilometers of strike length remain open along this structural corridor.”

 CanAlaska CEO, Cory Belyk, comments, “The 2022 program significantly increased our knowledge of the polymetallic uranium mineralization drilled in 2021. Continuation of strong sandstone and deep basement alteration along major structures is very encouraging and is an important aspect in nearly all uranium deposits in the Basin, specifically basement-hosted uranium deposits such as Eagle Point, where altered and mineralized cross-structures extend for several hundred metres away from the main deposit. The team did a great job of working out the geology and results from this program have generated nearby targets for the next round of drilling.”

 

Corporate Update

West McArthur Drill Preparation:

The Company has nearly completed its detailed Stepwise Moving Loop Time Domain Electromagnetic Survey (TDEM) on its West McArthur Joint Venture project. The geophysical survey is part of the approved $5 million 2022 exploration program. Preliminary survey results show multiple strong conductive responses along the Grid 5 trend that appear to be associated with newly interpreted potential folds and fault structures. The Company anticipates the program will be complete in early April and targets from the survey will be ready for drill testing during the upcoming summer exploration program.

Key Extension Ground Gravity Survey:

A ground gravity survey at the Company’s new Key Extension project is over 50% complete. Preliminary processing of the data has identified a series of gravity low features that are associated with conductors on the property. These initial results are encouraging as this association is common in many basement-hosted uranium deposits. The Company plans to release the results of the survey once the full data set has been received and final processing has been completed in preparation for the inaugural drilling program later in the year.

Manibridge Drill Program

Drilling at the Company’s Manibridge project is ongoing. The drilling program is being fully funded by Metal Energy Corp. as part of a staged earn-in option agreement. Metal Energy have earned a 49% interest in the property and have elected to proceed with the 70% earn-in option. CanAlaska is the current operator on the project and drilling is ongoing.

Hunter Geophysics

In the Thompson Nickel Belt, the Company is preparing for an airborne VTEM survey on it’s 100%-owned Hunter nickel project.

 

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.”  CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds.

The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.

For further information visit www.canalaska.com.

On behalf of the Board of Directors

“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Cory Belyk, CEO and Executive Vice President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com

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

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Waterbury South Uranium Targets Extended in Latest Winter Drill Program

Research, News, and Market Data on CanAlaska Uranium

 

 Strong Clay and Sulfide Alteration Halo Associated With Previously Discovered Polymetallic Uranium Mineralization Extended

 Structurally-Complex Area Identified in Sandstone and Deep Into Basement

 Update on Corporate Activities in the Athabasca Basin and Thompson Nickel Belt

 Vancouver, Canada, March 31, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce the successful completion of the 2022 drilling program at its 100%-owned Waterbury South uranium project. The project is located approximately 10 km southeast of the producing Cigar Lake uranium mine in the Eastern Athabasca Basin (Figure 1).

 

Figure 1 – Property location map for the Waterbury South project.

The drill program was focused on extending and understanding the geological controls of the polymetallic unconformity uranium mineralization associated with nickel, arsenic, cobalt, and zinc, intersected during the previous 2021 winter drill program (see News Release dated June 17, 2021). Program objectives were successfully met with the completion of six drill holes totalling 2,787 metres (m). Results indicate a structurally-complex fault system that extends the footprint of previously intersected strong sandstone and deep basement alteration.

 

Figure 2 – Drillhole section along WAT009 and WAT010 showing the distribution of the strong alteration
and structure in the lower sandstone and basement along the fence.

Drillhole WAT010, drilled along the same fence as WAT009, targeted the unconformity projection of strong faulting intersected in the basement of WAT009. WAT010 intersected the unconformity target approximately 52 m north of WAT009 on section. The drillhole intersected a strongly altered and structured lower sandstone column with strong bleaching, pyrite, clay alteration, secondary hematite, desilicification, and clay-replaced sandstone (Figure 2). Strong bleaching and chlorite alteration extends over 60 m into the basement on WAT 010 and is associated with quartz-carbonate healed breccias that contain brittle reactivation . Based on the intensity of structure and alteration in the sandstone column, WAT010 is interpreted to have overshot the ideal target at the unconformity. The results on this fence from both 2021 and 2022 drilling indicate that strong hydrothermal alteration and fault structures are present above the unconformity and extend deep into the basement indicating the possible presence of a large mineralizing event nearby.

Drillhole WAT012  to the east of WAT010 confirmed the strike extension of strong alteration within WAT009 and WAT010. WAT012 intersected the unconformity approximately 55 m east of WAT009 (Figure 3). The lower sandstone column contains a five metre wide zone of strong hydrothermal alteration including bleaching, patches of strong black sulfide alteration, clay and chlorite, similar to WAT009 and WAT010. The strong bleaching and clay alteration extends into the upper four metres of the basement. Nearly 70 m below the unconformity, a series of 1 to 4 m wide strongly graphitic and re-activated fault zones characterized by broken core and quartz-carbonate healed breccias were intersected indicating further evidence of a major graphitic fault system in the basement. WAT012 is interpreted to have undershot the ideal target at the unconformity. WAT 014 was drilled to test the structural complexity in the area; it intersected bedding-controlled sulfide alteration throughout the lower sandstone column.

 

Figure 3 – Map of the Waterbury South project shows the complex structural relationship between
the drillholes completed to date and the currently defined sandstone alteration.

The drillholes completed during the program show evidence for multiple orientations of re-activated fault structures. These fault structures are parallel and cross-cutting to the basement stratigraphy in the area. In other uranium deposits such as Eagle Point, cross-cutting and splay faults play a very important role in controlling and localizing fluid movement along the main graphitic strucures. In the case of Eagle Point, these cross-cutting and splay structures can be strongly altered and mineralized for several hundred metres away from the mine area. The sandstone and deep basement faults with strong alteration are indicative of the presence of hydrothermal processes generally associated with a uranium mineralizing event. Given the structural complexity encountered in the 2022 program, the Company is investigating use of high resolution geophysical surveys to plan the next phase of drilling.

Geochemical assay results for the 2022 drilling program are pending.

CanAlaska VP Exploration, Nathan Bridge, comments, “The CanAlaska team set out to understand the controls on the previously discovered polymetallic unconformity uranium mineralization in WAT009. The strong alteration system in WAT009, that is host to high-grade nickel-sulfides and associated uranium mineralization, was extended to the east and remains open in several directions. The Waterbury South area is structurally-complex, with multiple fault orientations and deep basement alteration that suggests multiple periods of reactivation and hydrothermal fluid-movement, key to uranium deposit formation in the Athabasca Basin. The results obtained during this drill season are promising and several kilometers of strike length remain open along this structural corridor.”

 CanAlaska CEO, Cory Belyk, comments, “The 2022 program significantly increased our knowledge of the polymetallic uranium mineralization drilled in 2021. Continuation of strong sandstone and deep basement alteration along major structures is very encouraging and is an important aspect in nearly all uranium deposits in the Basin, specifically basement-hosted uranium deposits such as Eagle Point, where altered and mineralized cross-structures extend for several hundred metres away from the main deposit. The team did a great job of working out the geology and results from this program have generated nearby targets for the next round of drilling.”

 

Corporate Update

West McArthur Drill Preparation:

The Company has nearly completed its detailed Stepwise Moving Loop Time Domain Electromagnetic Survey (TDEM) on its West McArthur Joint Venture project. The geophysical survey is part of the approved $5 million 2022 exploration program. Preliminary survey results show multiple strong conductive responses along the Grid 5 trend that appear to be associated with newly interpreted potential folds and fault structures. The Company anticipates the program will be complete in early April and targets from the survey will be ready for drill testing during the upcoming summer exploration program.

Key Extension Ground Gravity Survey:

A ground gravity survey at the Company’s new Key Extension project is over 50% complete. Preliminary processing of the data has identified a series of gravity low features that are associated with conductors on the property. These initial results are encouraging as this association is common in many basement-hosted uranium deposits. The Company plans to release the results of the survey once the full data set has been received and final processing has been completed in preparation for the inaugural drilling program later in the year.

Manibridge Drill Program

Drilling at the Company’s Manibridge project is ongoing. The drilling program is being fully funded by Metal Energy Corp. as part of a staged earn-in option agreement. Metal Energy have earned a 49% interest in the property and have elected to proceed with the 70% earn-in option. CanAlaska is the current operator on the project and drilling is ongoing.

Hunter Geophysics

In the Thompson Nickel Belt, the Company is preparing for an airborne VTEM survey on it’s 100%-owned Hunter nickel project.

 

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.”  CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds.

The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.

For further information visit www.canalaska.com.

On behalf of the Board of Directors

“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Cory Belyk, CEO and Executive Vice President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com

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

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Wednesday, March 30, 2022

Alliance Resource Partners (ARLP)
Cash Flow Above All Else

Alliance Resource Partners LP operates as a coal mining company based in the United States. It functions through threesegments; Illinois Basin, Appalachia, and and Minerals. The Illinois Basin activity comprises of underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia and it makes up for most of the company’s revenue-generating operations. The Appalachia segment, on the other hand, consists of multiple operating segments, including the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining mining complex. The Minerals segment includes oil & gas mineral interests held by AR Midland and AllDale I & II.

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.

Initiating coverage.  Alliance Resource Partners is a diversified natural resource company that generates revenue from the production and marketing of coal, and royalty income from coal, oil, and gas mineral interests located in favorable producing regions across the United States. Strong cash flows generated by the company’s operations are expected to support continued growth in its oil and natural gas royalty business, along with diversification into green energy sources that may include strategic minerals and metals, electric vehicle charging infrastructure, wind, and/or solar.

Strong cash flow growth profile.  Demand for coal, oil, and gas remains robust and prices have risen in recent quarters. Free cash flow in 2021 was $302.2 million, well above capital expenditures of $123 million. In 2021, Alliance paid down over $100 million of debt and recently increased its quarterly cash distribution to unitholders by 25% to $0.25 per unit, or $1.00 on an annualized basis …

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 Announces Results From Its Lithium Extraction Pilot Plant In Nevada

Research, News, and Market Data on Cypress Development

 

March 30, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to announce results from its Lithium Extraction Pilot Plant in Amargosa Valley, Nevada (“Pilot Plant”). The interim test results were derived from the data acquired during the 3-, 7-, and 14-day continuous operation events, which utilized claystone from the Company’s Clayton Valley Lithium Project in Clayton Valley, Nevada. Results yielded a concentration of lithium into an intermediate solution product containing 2,700 parts per million (“ppm”) lithium with insignificant impurities (“Intermediate Solution”). This is in line with expectations and similar to the data used in the Pre-Feasibility Study (“PFS”, effective date August 5, 2020, amended March 15, 2021). This information will be incorporated in the Company’s upcoming Feasibility Study currently under the direction of Wood PLC.

Highlights:

• Concentration of lithium into an Intermediate Solution containing 2,700 ppm lithium with insignificant impurities
• Overall extraction rates of lithium, within the washed tails, are between 83% and 85%
• Lithium extractions from the ion exchange in the lithium recovery area indicate separation efficiencies for lithium and major cations exceed 98%
• Sodium and potassium removal in the lithium recovery area has approached 80% with less than 0.5% lithium entrainment
• Overall impurity removal, specifically, magnesium, calcium, iron, and aluminum all exceed 99%
• Work continues at the Pilot Plant evaporation process stage to allow the integration of the treatment of the Intermediate Solution to produce a high-grade concentrated lithium solution ready for off-site conversion to a final lithium product

“All primary components of the Pilot Plant are operating to design. The lithium extraction and recovery areas are meeting our expectations and we are very pleased with the optimization changes completed so far, as we are now consistently producing an Intermediate Solution containing 2,700 ppm lithium with negligible impurities” stated Dr. Bill Willoughby, President, and CEO of Cypress Development. “Our team is working on our Pilot Plant’s evaporation process to allow us to take our Intermediate Solution to a high-grade concentrated lithium solution, which is essentially our final step on-site. We expect this process to be completed and be tested in the second quarter.”

Results thus far have identified preliminary extraction rates of lithium within the washed tails are between 83% and 85%. Lithium extractions from the Lionex process are 98%. Impurity removal of magnesium, calcium, iron, and aluminum are all above 99%. Sodium and potassium removal in the lithium recovery area is 80% with less than 0.5% lithium entrainment. The remaining sodium and potassium are inconsequential to the final process.

Over the coming months, the Company will continue to run tests to further optimize its Pilot Plant and enhance its process flowsheet.

Plant Update

The Pilot Plant is undergoing modifications on an ongoing basis to further improve throughput and efficiencies. These modifications include the flowsheet with the intention of simplifying the impurity removal steps prior to lithium recovery. The Company has received most of the remaining analyses of the 1,400 samples collected during continuous operating runs. These results are undergoing compilation and review with respect to flow rates and mass balances in the various areas of the Pilot Plant and will form the basis of further optimization studies. Within the lithium recovery area, the results exceed expectations, with separation efficiencies for lithium and major cations are exceeding 98% and have confirmed the successful performance, thus far, of the Chemionex’s Lionex lithium recovery and concentration (direct lithium extraction or DLE) process.

Further, changes were made to the tailings handling. Based on the process, all recovered salt (NaCl), process solution, and water is recycled back into the system. No lithium recovery effects were noted with recycled solids and solutions. Changes to the tailing dewatering system has allowed lower moisture content the final tails to less than 40% moisture. Further changes are being made to allow washing additional lithium from the final tails.

Webinar

A webinar will be held by management of Cypress Development to discuss the results from its Lithium Extraction Pilot Plant on Wednesday March 30, 2022, at 8 a.m. Pacific time / 11 a.m. Eastern time. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.

Link:  https://my.6ix.com/sa-Wg6ln

After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast.

A replay of the webcast will be available within 48 hours on the Company’s Media & Articles section of the Company’s website following the conclusion of the call.

Qualified Person

Todd Fayram, MMSA-QP is the “Qualified Person” as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for battery construction.

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

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

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

Cautionary Note Regarding Forward-Looking Statements

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

Cypress Development Announces Results From Its Lithium Extraction Pilot Plant In Nevada

Research, News, and Market Data on Cypress Development

 

March 30, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to announce results from its Lithium Extraction Pilot Plant in Amargosa Valley, Nevada (“Pilot Plant”). The interim test results were derived from the data acquired during the 3-, 7-, and 14-day continuous operation events, which utilized claystone from the Company’s Clayton Valley Lithium Project in Clayton Valley, Nevada. Results yielded a concentration of lithium into an intermediate solution product containing 2,700 parts per million (“ppm”) lithium with insignificant impurities (“Intermediate Solution”). This is in line with expectations and similar to the data used in the Pre-Feasibility Study (“PFS”, effective date August 5, 2020, amended March 15, 2021). This information will be incorporated in the Company’s upcoming Feasibility Study currently under the direction of Wood PLC.

Highlights:

• Concentration of lithium into an Intermediate Solution containing 2,700 ppm lithium with insignificant impurities
• Overall extraction rates of lithium, within the washed tails, are between 83% and 85%
• Lithium extractions from the ion exchange in the lithium recovery area indicate separation efficiencies for lithium and major cations exceed 98%
• Sodium and potassium removal in the lithium recovery area has approached 80% with less than 0.5% lithium entrainment
• Overall impurity removal, specifically, magnesium, calcium, iron, and aluminum all exceed 99%
• Work continues at the Pilot Plant evaporation process stage to allow the integration of the treatment of the Intermediate Solution to produce a high-grade concentrated lithium solution ready for off-site conversion to a final lithium product

“All primary components of the Pilot Plant are operating to design. The lithium extraction and recovery areas are meeting our expectations and we are very pleased with the optimization changes completed so far, as we are now consistently producing an Intermediate Solution containing 2,700 ppm lithium with negligible impurities” stated Dr. Bill Willoughby, President, and CEO of Cypress Development. “Our team is working on our Pilot Plant’s evaporation process to allow us to take our Intermediate Solution to a high-grade concentrated lithium solution, which is essentially our final step on-site. We expect this process to be completed and be tested in the second quarter.”

Results thus far have identified preliminary extraction rates of lithium within the washed tails are between 83% and 85%. Lithium extractions from the Lionex process are 98%. Impurity removal of magnesium, calcium, iron, and aluminum are all above 99%. Sodium and potassium removal in the lithium recovery area is 80% with less than 0.5% lithium entrainment. The remaining sodium and potassium are inconsequential to the final process.

Over the coming months, the Company will continue to run tests to further optimize its Pilot Plant and enhance its process flowsheet.

Plant Update

The Pilot Plant is undergoing modifications on an ongoing basis to further improve throughput and efficiencies. These modifications include the flowsheet with the intention of simplifying the impurity removal steps prior to lithium recovery. The Company has received most of the remaining analyses of the 1,400 samples collected during continuous operating runs. These results are undergoing compilation and review with respect to flow rates and mass balances in the various areas of the Pilot Plant and will form the basis of further optimization studies. Within the lithium recovery area, the results exceed expectations, with separation efficiencies for lithium and major cations are exceeding 98% and have confirmed the successful performance, thus far, of the Chemionex’s Lionex lithium recovery and concentration (direct lithium extraction or DLE) process.

Further, changes were made to the tailings handling. Based on the process, all recovered salt (NaCl), process solution, and water is recycled back into the system. No lithium recovery effects were noted with recycled solids and solutions. Changes to the tailing dewatering system has allowed lower moisture content the final tails to less than 40% moisture. Further changes are being made to allow washing additional lithium from the final tails.

Webinar

A webinar will be held by management of Cypress Development to discuss the results from its Lithium Extraction Pilot Plant on Wednesday March 30, 2022, at 8 a.m. Pacific time / 11 a.m. Eastern time. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.

Link:  https://my.6ix.com/sa-Wg6ln

After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast.

A replay of the webcast will be available within 48 hours on the Company’s Media & Articles section of the Company’s website following the conclusion of the call.

Qualified Person

Todd Fayram, MMSA-QP is the “Qualified Person” as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for battery construction.

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

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

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

Cautionary Note Regarding Forward-Looking Statements

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