CanAlaska Stakes New Targets in Central Athabasca Basin

Research, News, and Market Data on CanAlaska Uranium

 

Uranium Mineralization in Basement Outcrop Provides Immediate Targets for Follow-Up

 30 Kilometres of Priority Corridors Identified

Vancouver, Canada, February 23, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce compilation work on the Company’s newly acquired Chymko project, totalling 32,603 hectares, in the central Athabasca Basin located 100 km west of the Key Lake mine and mill complex (Figure 1).

Compilation work has highlighted several prominent NW-SE trending structural corridors where electromagnetic conductors are concentrated within magnetic lows (Figure 2). These conductive corridors are interpreted to represent linking structural corridors between two prominent shear zones in the Cable Bay shear zone to the east and the Virgin River shear zone to the west. The conductive corridors are abruptly cutoff at the north end by the Karras Fault. To the west of the property, the Virgin River Shear zone is host to Cameco and Orano’s Centennial unconformity uranium deposit and the Dufferin Lake uranium and polymetallic uranium zones.

The Chymko project straddles the southern edge of the Athabasca Basin, with depths to the unconformity within the Basin increasing to the north. Historical exploration in the region has been focused on regional airborne surveys that have identified the NW-SE striking conductivity corridors that are coincident with magnetic lows (Figure 2). This geophysical relationship is typical of many unconformity uranium deposits in the Athabasca Basin where graphitic metasediments in long linear conductive corridors are conducive to semi-brittle fault reactivation and the creation of structural traps for potential uranium deposition. As a result, the Company believes that these conductive corridors represent key underexplored target areas for basement and unconformity-type uranium mineralization with at least 30 kilometres of target corridor identified.

 

Chymko Lake Uranium Showing

The newly acquired property encompasses the Chymko Lake uranium showing. The Chymko Lake showing consists of a 30 metre long southwest trending vein-controlled zone of uranium mineralization hosted within hydrothermally altered felsic gneisses just outside of the present-day Athabasca Basin. The extents of the showing are open and only limited by the exposed outcrop. Historical rock chip samples, associated with rusty to brick-red hematite alteration, returned a maximum grade of 0.088% U₃O₈.

The Company is completing further compilation on the newly acquired Chymko project and is actively seeking Joint Venture partners.

CanAlaska CEO, Cory Belyk, comments, “The CanAlaska team has generated a large high-quality exploration project with already identified basement-hosted uraniuim mineralization within its boundary immediately adjacent to one of the premiere uranium corridors in the Athabasca Basin.The uranium market continues to improve and we anticipate projects such as Chymko will be in high demand for new joint venture partners or Basin entrants. We look forward to working with a new partner to move this project forward.”

 

 Other News

The Company is active on several uranium projects in the Athabasca Basin, Saskatchewan and several nickel projects in the Thompson Nickel Belt, Manitoba.

West McArthur Drill Preparation:

Currently, the Company is undertaking a 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. The goal of the TDEM survey is to outline and prioritize drill targets along the remainder of the Grid 5 conductive corridor southwest of the strong alteration and fault structures intersected during the recently completed 2021 exploration program. Preliminary results show that the survey is successfully mapping multiple strong conductive responses along the Grid 5 conductive trend. The Company anticipates the program will be complete in April and targets from the survey will be ready for drill testing during the upcoming summer exploration program.

 Key Extension Geophysics:

A geophysical crew is planning to mobilize in the coming weeks to the Company’s Key Extension project to commence a ground gravity survey on the northeastern portion of the project. This survey will search for gravity low anomalies associated with conductivity highs potentially associated with basement-hosted uranium deposits. Targets from this survey will be ready for drill testing later in the year.

Waterbury South Drilling:

The Company is currently drilling on it’s 100%-owned Waterbury South project in the northeastern Athabasca Basin near the Cigar Lake uranium mine.

Hunter Geophysics:

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

West Athabasca Diamonds:

In the summer of 2021 a limited program of till sampling was completed on the West Athabasca Diamond project. A set of twenty till samples were collected in a traverse across and down-ice from the magnetic anomaly trend corresponding to potential kimberlites. Twelve chrome spinels were recovered from seven of the samples. Electron microprobe analyses of these chrome spinels yield compositions that do not fall within the diamond inclusion field.

 

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.

Tuesday, February 22, 2022

Great Bear Resources (GTBAF)(GBR:CA)
Acquisition by Kinross Expected to Close on or around February 24

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

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.

Shareholder approval and final order. Following shareholder approval during a special meeting on February 14, Great Bear Resources obtained a final order from the Supreme Court of British Columbia approving the acquisition of Great Bear by Kinross Gold Corporation (TSX: K, NYSE: KGC, Not Rated).


Transaction consideration.  Based on elections received, Great Bear shareholders who elected to receive all cash consideration are subject to pro-ration and will receive ~C$26.16 in cash and ~0.3783 Kinross shares per Great Bear share. Shareholders who did not make an election were deemed to receive the all cash consideration, subject to pro-ration. Those electing to receive all shares will receive …

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, February 18, 2022

Newrange Gold Corp. (NRGOF)(NRG:CA)
Drilling Commences at North Birch

As of April 24, 2020, Noble Capital Markets research on Newrange Gold is published under ticker symbols (NRGOF and NRG:CA). The price target is in USD and based on ticker symbol NRGOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.

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.

Drilling commences at North Birch. As expected, Newrange has commenced drilling at the North Birch project in the Birch-Uchi Greenstone Belt in the Red Lake Mining area of northwestern Ontario, Canada. Approximately 2,000 meters of drilling is planned, with the first five holes testing a three-kilometer strike length of the main target horizon.


Well defined targets.  In April 2021, Newrange completed an induced polarization (IP) survey over the eastern portion of the North Birch project area. The survey revealed several well-defined chargeability anomalies which will be targeted for drilling that coincide with the target horizon which is believed to be a sheared limb of a folded iron formation …

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, February 18, 2022

Coeur Mining (CDE)
Taking the Long View

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, rochester, wharf, and kensington. Its projects are located in the United States, Canada and Mexico, and North America.

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.

Fourth quarter and full year 2021 financial results. Coeur reported adjusted fourth quarter and full year 2021 losses per share of $(0.05) and $(0.01), respectively, compared to our net income per share estimates of $0.04 and $0.08. Variance to our estimates were largely due to higher costs applicable to sales. Coeur reported full year adjusted EBITDA of $210.8 million compared to our estimate of $218.4 million. Full year metal sales included 350,347 ounces of gold and 10.1 million ounces of silver.


Guidance for 2022.  Coeur expects to produce between 315,000 and 353,000 ounces of gold and between 9.0 million and 11.0 million pounds of silver. This compares to 348,529 ounces of gold and 10.1 million ounces of silver produced in 2021. We have lowered our 2022 EPS and EBITDA estimates to $0.05 and $180.9 million from $0.28 and $249.7 million, respectively, to reflect lower production and higher …

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

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

Sierra Metals Reports Q4-2021 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE AMERICAN:SMTS) (“Sierra Metals” or the “Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the fourth quarter of 2021 (“Q4 2021”).

The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated and have not been adjusted for the 18.2% non-controlling interest. Sierra Metals consolidated financial results will be released on March 16, 2022.

Corona’s Highlights for the Three Months Ended December 31, 2021

• Revenues of $43.5 million vs. $45.2 million in Q4 2020
• Adjusted EBITDA of $19.1 million vs. $22.5 million in Q4 2020
• Total tonnes processed decreased by 11% to 277,531 vs. 311,946 in Q4 2020
• Net production revenue per tonne of ore milled increased by 2% to $151.25
• Cash cost per copper equivalent payable pound increased by 39% at $1.61 in Q4 2021
• All-in sustaining cost (“AISC”) per copper equivalent payable increased 25% to $3.09 in Q4 2021
• Copper equivalent production of 12.6 million pounds vs. 18.4 million pounds in Q4 2020
• $32.9 million of cash and cash equivalents as at December 31, 2021
• $58.8 million of working capital as at December 31,2021

Luis Marchese, CEO of Sierra Metals, commented, “Despite the reduced production this quarter, on a year over year basis, the Mine’s performance reached its throughput targets. Although grades were lower, a 12% increase in annual throughput along with higher realized metal prices and lower treatment and refining charges, resulted in a 23% increase in revenue and a 33% increase in adjusted EBITDA.

He continued, “Production at Yauricocha was halted before the quarter’s end when the Mine achieved its annual permitted throughput of 1,256,450 tonnes. An 11% decrease in quarterly production, coupled with lower grades resulted in a 4% decrease in revenue and 15% decrease in adjusted EBITDA compared to Q4 2020. In 2022 we will have the benefit of a full year of consistent production at our higher permitted rate of 3,600 tonnes per day”.

He concluded, “As we resume normalized operations and staffing, the Mine will benefit from a reduction in operating expenditures which were temporarily higher due to the COVID-19 pandemic. In addition, overall efficiencies and performance should improve. Management remains committed on this continuous improvement path and looks forward to the advancement of important projects and exploration at Yauricocha during the year.”

The following table displays selected financial information for the three months and year ended December 31, 2021:

1 Adjusted EBITDA includes adjustments for depletion and depreciation, interest expense and other financing costs, interest income, share-based compensation, Foreign Exchange (gain) loss and income taxes; see non-IFRS Performance Measures section of the Company’s MD&A.

2 Cash cost per copper equivalent payable pound and All-In Sustaining Cost per copper equivalent pound sold are non-IFRS performance measures and include cost of sales, treatment and refining charges, sustaining capital expenditures, general and administrative expense, and selling expense, and exclude workers’ profit sharing, depreciation, and other non-cash provisions; Cash cost per copper equivalent pound sold, net production revenue per tonne of ore milled, and cash cost per tonne of ore milled are non-IFRS performance measures; see non-IFRS Performance Measures section of the Company’s MD&A.

Corona’s Financial Highlights for the Three Months and Year Ended December 31, 2021

• Revenue of $43.5 million for Q4 2021, lower than the revenue of $45.2 million for the same quarter of 2020 mainly due to lower throughput and grades. Revenue of $180.6 million for the twelve-month period ended December 31, 2021 compared to $146.9 million for the same period of 2020. Annual revenue increased 23% due to combined impact of higher realized metal prices and 22% decrease in treatment and refining charges, which more than compensated for lower quantities of metal sales compared to 2020.
• Adjusted EBITDA of $19.1 million for Q4 2021 compared to $22.5 million for Q4 2020 and $88.0 million for the year ended December 31, 2021, compared to $66.3 million for the same period in 2020. The increase in adjusted EBITDA for the full year 2021 was driven mainly by the higher contribution per tonne of ore processed, attributable to higher metal prices as compared to 2020.
• Operating cash flows before movements in working capital was $19.3 million for Q4 2021, compared to $23.3 million for Q4 2020, and $83.5 million for the year ended December 31, 2021, compared to $64.9 million for the same period in 2020. The increase in operating cash flows resulted from the afore-mentioned improved gross margins due to higher realized metal prices compared to 2020.
• Cash and cash equivalents of $32.9 million as at December 31, 2021, compared to $65.0 million as at December 31, 2020. The decrease in cash and cash equivalents resulted from cash used in investing activities $37.9 million, payment of dividends of $49.9 million and intercompany advances of $5.0 million offset by operating cash flows of $60.7 million (after movement in working capital).
• Net income of $9.5 million, or $0.27 per share for Q4 2021, compared to net income of $10.7 million, or $0.30 per share for Q4 2020. Net income of $35.0 million, or $0.97 per share, for the year ended December 31, 2021, compared to $27.4 million, or $0.76 per share, for the same period in 2020.

Corona’s Operational Highlights for the Three Months and Year Ended December 31, 2021

The following table displays the production results for the three months and year ended December 31, 2021. For further production details please refer the Company’s Q4 production press release dated January 24, 2022:

^{(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.}

• The Yauricocha mine processed 277,531 tons during Q4 2021, a decrease of 11% compared to Q4 2020, as mine operations were halted a few days before year-end to avoid exceeding the maximum permitted capacity¹ for 2021. It may be noted that the mine operated at a high throughput for the first nine months of the year, which resulted in attaining the maximum annual permitted capacity before the end of the year.
• Yauricocha’s annual throughput was 1,256,847 tonnes, representing an increase of 12% as compared to the 2020 annual production. While the mine’s operational flexibility allowed for an increase in the throughput, accessing higher targeted grades remained a challenge throughout the year. The negative variations in the polymetallic ore resulted from the regulatory limitations to access some of the high-grade ore bodies. Also, copper sulfide grades were lower mainly due to the delays in the contribution of the Esperanza body due to ground conditions, which were controlled and corrected.
• Although higher throughput partially compensated for lower grades, metal production declined. Year over year copper equivalent production decreased 21% in 2021 compared to the prior year. 2021 annual production of silver, copper, lead, zinc and gold declined by 5%, 25%, 8%, 3% and 5% respectively compared to 2020 annual production.
• Cash cost per copper equivalent payable pounds of $1.61 for Q4 2021 compared to $1.16 for Q4 2020, due to the 28% decrease in copper equivalent pounds sold in Q4 2021 compared to the same quarter of 2020. For the twelve-month period ended December 31, 2021, cash costs per copper equivalent payable pound increased to $1.46 from $1.01 for the same period in 2020. The annual increase in cash costs was a combined result of higher operating costs, mainly related to additional contractors at higher costs, and the 21% decrease in copper equivalent pounds sold as compared to the year 2020.
• All-in sustaining cost (“AISC”) per copper equivalent payable pound of $3.09 for Q4 2021 compared to $2.47 for Q4 2020 and $2.77 for the year ended December 31, 2021, compared to $2.11 for the same period in 2020. The increase in the AISC per copper equivalent payable pound for Q4 2021 and full year 2021 compared to the same periods in 2020 was a combined result of higher cash costs and sustaining capital expenditure, offset by the anticipated decrease in treatment and refining charges during 2021.

^1. Maximum annual capacity of 1,256,850 tonnes calculated using permitted capacity of 3,000 tpd until June 15, 2021 and 3,600 thereafter on receipt of permit.

Sierra Metals to release Q4/YE 2021 Financial Results on March 16, 2022

The Company will release Q4-2021 financial results on Wednesday March 16, 2022, after the Market close. Senior Management will also host a webcast and conference call on Thursday March 17, 2022, at 10:30am EDT. Details of the Conference Call and Webcast are as follows:

Via Webcast:

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

https://event.on24.com/wcc/r/3574382/FCCE4F2A0F9D10DD9ADA273BDF220BF7

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

Via phone:

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

US/CAN dial-in number (Toll Free): 1 844 200 6205
US dial-in number (Local): 1 646 904 5544
Canada dial-in number (Local): 1 226 828 7575
All other locations: +1 929 526 1599
Participant access code: 017137

Press *1 to ask a question, *2 to withdraw your question, or *0 for operator assistance.

Quality Control

All technical data contained in this news release has been reviewed and approved by:

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

About Sierra Metals

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

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

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

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Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2021 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 18, 2021 for its fiscal year ended December 31, 2020 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

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

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

Luis Marchese
CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777

Source: Sierra Metals Inc.

Sierra Metals Reports Q4-2021 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE AMERICAN:SMTS) (“Sierra Metals” or the “Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the fourth quarter of 2021 (“Q4 2021”).

The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated and have not been adjusted for the 18.2% non-controlling interest. Sierra Metals consolidated financial results will be released on March 16, 2022.

Corona’s Highlights for the Three Months Ended December 31, 2021

• Revenues of $43.5 million vs. $45.2 million in Q4 2020
• Adjusted EBITDA of $19.1 million vs. $22.5 million in Q4 2020
• Total tonnes processed decreased by 11% to 277,531 vs. 311,946 in Q4 2020
• Net production revenue per tonne of ore milled increased by 2% to $151.25
• Cash cost per copper equivalent payable pound increased by 39% at $1.61 in Q4 2021
• All-in sustaining cost (“AISC”) per copper equivalent payable increased 25% to $3.09 in Q4 2021
• Copper equivalent production of 12.6 million pounds vs. 18.4 million pounds in Q4 2020
• $32.9 million of cash and cash equivalents as at December 31, 2021
• $58.8 million of working capital as at December 31,2021

Luis Marchese, CEO of Sierra Metals, commented, “Despite the reduced production this quarter, on a year over year basis, the Mine’s performance reached its throughput targets. Although grades were lower, a 12% increase in annual throughput along with higher realized metal prices and lower treatment and refining charges, resulted in a 23% increase in revenue and a 33% increase in adjusted EBITDA.

He continued, “Production at Yauricocha was halted before the quarter’s end when the Mine achieved its annual permitted throughput of 1,256,450 tonnes. An 11% decrease in quarterly production, coupled with lower grades resulted in a 4% decrease in revenue and 15% decrease in adjusted EBITDA compared to Q4 2020. In 2022 we will have the benefit of a full year of consistent production at our higher permitted rate of 3,600 tonnes per day”.

He concluded, “As we resume normalized operations and staffing, the Mine will benefit from a reduction in operating expenditures which were temporarily higher due to the COVID-19 pandemic. In addition, overall efficiencies and performance should improve. Management remains committed on this continuous improvement path and looks forward to the advancement of important projects and exploration at Yauricocha during the year.”

The following table displays selected financial information for the three months and year ended December 31, 2021:

1 Adjusted EBITDA includes adjustments for depletion and depreciation, interest expense and other financing costs, interest income, share-based compensation, Foreign Exchange (gain) loss and income taxes; see non-IFRS Performance Measures section of the Company’s MD&A.

2 Cash cost per copper equivalent payable pound and All-In Sustaining Cost per copper equivalent pound sold are non-IFRS performance measures and include cost of sales, treatment and refining charges, sustaining capital expenditures, general and administrative expense, and selling expense, and exclude workers’ profit sharing, depreciation, and other non-cash provisions; Cash cost per copper equivalent pound sold, net production revenue per tonne of ore milled, and cash cost per tonne of ore milled are non-IFRS performance measures; see non-IFRS Performance Measures section of the Company’s MD&A.

Corona’s Financial Highlights for the Three Months and Year Ended December 31, 2021

• Revenue of $43.5 million for Q4 2021, lower than the revenue of $45.2 million for the same quarter of 2020 mainly due to lower throughput and grades. Revenue of $180.6 million for the twelve-month period ended December 31, 2021 compared to $146.9 million for the same period of 2020. Annual revenue increased 23% due to combined impact of higher realized metal prices and 22% decrease in treatment and refining charges, which more than compensated for lower quantities of metal sales compared to 2020.
• Adjusted EBITDA of $19.1 million for Q4 2021 compared to $22.5 million for Q4 2020 and $88.0 million for the year ended December 31, 2021, compared to $66.3 million for the same period in 2020. The increase in adjusted EBITDA for the full year 2021 was driven mainly by the higher contribution per tonne of ore processed, attributable to higher metal prices as compared to 2020.
• Operating cash flows before movements in working capital was $19.3 million for Q4 2021, compared to $23.3 million for Q4 2020, and $83.5 million for the year ended December 31, 2021, compared to $64.9 million for the same period in 2020. The increase in operating cash flows resulted from the afore-mentioned improved gross margins due to higher realized metal prices compared to 2020.
• Cash and cash equivalents of $32.9 million as at December 31, 2021, compared to $65.0 million as at December 31, 2020. The decrease in cash and cash equivalents resulted from cash used in investing activities $37.9 million, payment of dividends of $49.9 million and intercompany advances of $5.0 million offset by operating cash flows of $60.7 million (after movement in working capital).
• Net income of $9.5 million, or $0.27 per share for Q4 2021, compared to net income of $10.7 million, or $0.30 per share for Q4 2020. Net income of $35.0 million, or $0.97 per share, for the year ended December 31, 2021, compared to $27.4 million, or $0.76 per share, for the same period in 2020.

Corona’s Operational Highlights for the Three Months and Year Ended December 31, 2021

The following table displays the production results for the three months and year ended December 31, 2021. For further production details please refer the Company’s Q4 production press release dated January 24, 2022:

^{(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.}

• The Yauricocha mine processed 277,531 tons during Q4 2021, a decrease of 11% compared to Q4 2020, as mine operations were halted a few days before year-end to avoid exceeding the maximum permitted capacity¹ for 2021. It may be noted that the mine operated at a high throughput for the first nine months of the year, which resulted in attaining the maximum annual permitted capacity before the end of the year.
• Yauricocha’s annual throughput was 1,256,847 tonnes, representing an increase of 12% as compared to the 2020 annual production. While the mine’s operational flexibility allowed for an increase in the throughput, accessing higher targeted grades remained a challenge throughout the year. The negative variations in the polymetallic ore resulted from the regulatory limitations to access some of the high-grade ore bodies. Also, copper sulfide grades were lower mainly due to the delays in the contribution of the Esperanza body due to ground conditions, which were controlled and corrected.
• Although higher throughput partially compensated for lower grades, metal production declined. Year over year copper equivalent production decreased 21% in 2021 compared to the prior year. 2021 annual production of silver, copper, lead, zinc and gold declined by 5%, 25%, 8%, 3% and 5% respectively compared to 2020 annual production.
• Cash cost per copper equivalent payable pounds of $1.61 for Q4 2021 compared to $1.16 for Q4 2020, due to the 28% decrease in copper equivalent pounds sold in Q4 2021 compared to the same quarter of 2020. For the twelve-month period ended December 31, 2021, cash costs per copper equivalent payable pound increased to $1.46 from $1.01 for the same period in 2020. The annual increase in cash costs was a combined result of higher operating costs, mainly related to additional contractors at higher costs, and the 21% decrease in copper equivalent pounds sold as compared to the year 2020.
• All-in sustaining cost (“AISC”) per copper equivalent payable pound of $3.09 for Q4 2021 compared to $2.47 for Q4 2020 and $2.77 for the year ended December 31, 2021, compared to $2.11 for the same period in 2020. The increase in the AISC per copper equivalent payable pound for Q4 2021 and full year 2021 compared to the same periods in 2020 was a combined result of higher cash costs and sustaining capital expenditure, offset by the anticipated decrease in treatment and refining charges during 2021.

^1. Maximum annual capacity of 1,256,850 tonnes calculated using permitted capacity of 3,000 tpd until June 15, 2021 and 3,600 thereafter on receipt of permit.

Sierra Metals to release Q4/YE 2021 Financial Results on March 16, 2022

The Company will release Q4-2021 financial results on Wednesday March 16, 2022, after the Market close. Senior Management will also host a webcast and conference call on Thursday March 17, 2022, at 10:30am EDT. Details of the Conference Call and Webcast are as follows:

Via Webcast:

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

https://event.on24.com/wcc/r/3574382/FCCE4F2A0F9D10DD9ADA273BDF220BF7

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

Via phone:

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

US/CAN dial-in number (Toll Free): 1 844 200 6205
US dial-in number (Local): 1 646 904 5544
Canada dial-in number (Local): 1 226 828 7575
All other locations: +1 929 526 1599
Participant access code: 017137

Press *1 to ask a question, *2 to withdraw your question, or *0 for operator assistance.

Quality Control

All technical data contained in this news release has been reviewed and approved by:

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

About Sierra Metals

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

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2021 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 18, 2021 for its fiscal year ended December 31, 2020 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

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

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

Luis Marchese
CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777

Source: Sierra Metals Inc.

Wednesday, February 16, 2022

Aurania Resources (AUIAF)(ARU:CA)
Renewing the Search for the Lost Cities

As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

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.

Gaining access. Aurania Resources announced an access agreement with the community of “Kim” in the southern portion of its Lost Cities project. The Kim community is near where Metron, Incorporated projected the potential location of one of the Lost Cities. Recall Aurania engaged Metron, Incorporated to provide data analytic and statistical analysis services to aid the company’s search for two historic gold mining centers, Logrono de los Caballeros and Sevilla del Oro, both believed to be within the Lost Cities project.


Employing big data.  Metron used a Bayesian framework to integrate data collected by Aurania, including historical information, maps, topographic data, geologic information, exploration and geophysical survey data, and satellite imagery to produce a probability map of the location of Logrono de los Caballeros based on statistical algorithms. With the recent access agreement, Aurania intends to focus …

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

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

Aurania Signs New Access Agreement and Provides Update on Operations

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, February 15, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) announces that an important access agreement has been signed with the community of “Kim” at its Lost Cities-Cutucu project in southeastern Ecuador and provides an update on operations.

The Company yesterday signed an access agreement with the community of “Kim”, in the southern part of the block of concessions.  This is the first time the Company has been granted access to this important area.   At the community meeting there were a large number of artisanal gold miners.  The Kim community is located near where Metron (see press release dated September 26, 2019) forecasted the potential position of one of the “Lost Cities”.

Metron Inc. of Reston, Virginia, USA, used Bayesian data analysis to generate probability maps of the position of “Logroño de los Caballeros”, a gold mining settlement that was founded circa 1562 by the Spanish conquistadors, and abandoned circa 1605.  The location has been lost.  Numerous expeditions have been carried out over the intervening years to relocate it.  Metron incorporated historical documents, and clues from geography and geology into a “search matrix”, and then through statistical algorithms produced a map with statistical likelihoods the settlement would be in specific areas.  Kim will be a focus of work going forward.

Ms. Carolina Lasso Amaya has replaced the former Head of Corporate Social Responsibility for Aurania.  Ms. Lasso has been the Director of the Step Forward Foundation (Dar el Paso Adelante) in Ecuador for over two years and has extensive knowledge of the communities in the Cordillera de Cutucu.  Her first act has been to successfully negotiate access to Kim.

Prior to joining the Foundation in 2019, Ms. Lasso worked from 2011 to 2017 for the Ministry of Foreign Affairs in Colombia, primarily working in the border areas of Amazonia with indigenous groups.  During this period, she also dealt with elements of the FARC, the Colombian Paramilitaries, cocaine growers, persons recruiting child soldiers and other difficult and potentially dangerous groups.  She developed post-conflict models to integrate communities into the social fabric.  During her time with the Foundation, she has initiated a number of clean water projects, nutritional projects, and the extremely popular “Warastai” soccer tournament between villages.  Such activities are important in gaining and maintaining social license to operate with Aurania’s stakeholders.  Ms. Lasso is an Ecuadorian resident and is fluent in both English and Spanish.

The number of daily new COVID-19 infected cases in the Province of Morona-Santiago where Aurania’s Project is located has now dropped in half from a month ago.  The Red Alert in Ecuador has not yet been lifted but there is optimism the pandemic is abating.

 

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

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

 

Forward-Looking Statements

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

Bunker Hill Announces Appointment Of General Manager And Secures Mining Contractor

News and Market Data on Bunker Hill Mining

 

TORONTO, Feb. 15, 2022 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the appointment of Tom Francis as General Manager for the Bunker Hill Mine, and the execution of a mining services contract with Coeur d’Alene Mine Contracting LLC (“CMC”).
 

Sam Ash, CEO stated, “A critical driver of our success has been the strength that comes from building a world-class team, which will remain a central focus as we accelerate the restart of the Bunker Hill Mine. Tom’s demonstrated leadership skills and track record are a perfect fit for our needs, and I am pleased to welcome him on our journey towards not just building a mine, but a mining company. He will oversee all operational aspects of the restart of the Bunker Hill Mine including technical services, construction, contract management, and Safety and Health.”

“I am also pleased to announce the appointment of CMC as our mining contractor through planned commercial production. This extends an excellent and productive relationship that began in 2020, during which time they have demonstrated their world-class mining capabilities, knowledge of the Silver Valley, and ability to procure skilled personnel to meet our needs. Importantly, agreed rates are in line with those modelled in our PEA. Together with the MOU for the purchase of Teck’s Pend Oreille process plant for approximately $3 million, we are pleased that key capital and operating costs continue to be in line with estimates.”

APPOINTMENT OF TOM FRANCIS AS GENERAL MANAGER

The Company has appointed Tom Francis as General Manager of the Bunker Hill Mine. Mr. Francis joins the Bunker Hill team after 10 years with Rio Tinto, the second-largest mining company in the world, where he was most recently Mine Manager at the Kennecott Bingham Canyon Mine (“Kennecott”) in Utah, USA, its single largest mining operation. Among other achievements, his team delivered world-class payload metrics on Kennecott’s ultra-class truck fleet while simultaneously increasing average haul truck speeds and tire life. Previous roles with Rio Tinto included responsibility for productivity across the full Kennecott value stream (mine, concentrator, smelter and refinery), three years in the Group strategic investment analysis team assessing its global suite of projects (greenfield, brownfield & closure), and several years in Rio Tinto Exploration (RTX) managing operational support (incl. safety) for Rio Tinto’s Exploration’s projects across Africa and Eurasia.

Prior to his mining experience, Mr. Francis served as an officer in the Royal Marines and UK Special Forces, serving on multiple operational tours in Kosovo, Iraq & Afghanistan. He is a dual national US/UK citizen having lived, studied and worked in both the US and the UK. He holds a first-class degree from the University of Oxford (BA, Mathematics & Computation).

APPOINTMENT OF CMC AS MINING CONTRACTOR

The Company has also agreed a Contract Services Agreement (“CSA”) with Coeur d’Alene Mine Contracting, LLC for underground mining and development requirements through December 31, 2023, by which time it plans to be in commercial production. CMC is a locally owned and operated mining services company based in Idaho’s Silver Valley with extensive contracting experience in the deepest underground mines across North America. Their contract experience spans production, development, mine rehabilitation, mine start-ups and mine closures.

The CSA extends an ongoing relationship with CMC that has seen them work alongside the Bunker Hill team for the last two years, during which time they have performed safely, productively and developed an extensive first-hand knowledge of the Bunker Hill mine. Importantly, CMC has demonstrated an ability to grow in accordance with the step-up in physical activity at Bunker Hill without diluting operational performance. Labor and equipment rates in the CSA are consistent with the Company’s Preliminary Economic Assessment published in November 2021, and CMC has also been advising on and supporting the procurement of necessary additional equipment as operational activity increases.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American mining assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com , or within the SEDAR and EDGAR databases.

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

ir@bunkerhillmining.com

Cautionary Statements

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.

Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the Company’s ability to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been disclosed in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits contained in our website may not be comparable with information made public by companies that report in accordance with U.S. standards.

Bunker Hill Announces Appointment Of General Manager And Secures Mining Contractor

News and Market Data on Bunker Hill Mining

 

TORONTO, Feb. 15, 2022 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the appointment of Tom Francis as General Manager for the Bunker Hill Mine, and the execution of a mining services contract with Coeur d’Alene Mine Contracting LLC (“CMC”).
 

Sam Ash, CEO stated, “A critical driver of our success has been the strength that comes from building a world-class team, which will remain a central focus as we accelerate the restart of the Bunker Hill Mine. Tom’s demonstrated leadership skills and track record are a perfect fit for our needs, and I am pleased to welcome him on our journey towards not just building a mine, but a mining company. He will oversee all operational aspects of the restart of the Bunker Hill Mine including technical services, construction, contract management, and Safety and Health.”

“I am also pleased to announce the appointment of CMC as our mining contractor through planned commercial production. This extends an excellent and productive relationship that began in 2020, during which time they have demonstrated their world-class mining capabilities, knowledge of the Silver Valley, and ability to procure skilled personnel to meet our needs. Importantly, agreed rates are in line with those modelled in our PEA. Together with the MOU for the purchase of Teck’s Pend Oreille process plant for approximately $3 million, we are pleased that key capital and operating costs continue to be in line with estimates.”

APPOINTMENT OF TOM FRANCIS AS GENERAL MANAGER

The Company has appointed Tom Francis as General Manager of the Bunker Hill Mine. Mr. Francis joins the Bunker Hill team after 10 years with Rio Tinto, the second-largest mining company in the world, where he was most recently Mine Manager at the Kennecott Bingham Canyon Mine (“Kennecott”) in Utah, USA, its single largest mining operation. Among other achievements, his team delivered world-class payload metrics on Kennecott’s ultra-class truck fleet while simultaneously increasing average haul truck speeds and tire life. Previous roles with Rio Tinto included responsibility for productivity across the full Kennecott value stream (mine, concentrator, smelter and refinery), three years in the Group strategic investment analysis team assessing its global suite of projects (greenfield, brownfield & closure), and several years in Rio Tinto Exploration (RTX) managing operational support (incl. safety) for Rio Tinto’s Exploration’s projects across Africa and Eurasia.

Prior to his mining experience, Mr. Francis served as an officer in the Royal Marines and UK Special Forces, serving on multiple operational tours in Kosovo, Iraq & Afghanistan. He is a dual national US/UK citizen having lived, studied and worked in both the US and the UK. He holds a first-class degree from the University of Oxford (BA, Mathematics & Computation).

APPOINTMENT OF CMC AS MINING CONTRACTOR

The Company has also agreed a Contract Services Agreement (“CSA”) with Coeur d’Alene Mine Contracting, LLC for underground mining and development requirements through December 31, 2023, by which time it plans to be in commercial production. CMC is a locally owned and operated mining services company based in Idaho’s Silver Valley with extensive contracting experience in the deepest underground mines across North America. Their contract experience spans production, development, mine rehabilitation, mine start-ups and mine closures.

The CSA extends an ongoing relationship with CMC that has seen them work alongside the Bunker Hill team for the last two years, during which time they have performed safely, productively and developed an extensive first-hand knowledge of the Bunker Hill mine. Importantly, CMC has demonstrated an ability to grow in accordance with the step-up in physical activity at Bunker Hill without diluting operational performance. Labor and equipment rates in the CSA are consistent with the Company’s Preliminary Economic Assessment published in November 2021, and CMC has also been advising on and supporting the procurement of necessary additional equipment as operational activity increases.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American mining assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com , or within the SEDAR and EDGAR databases.

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

ir@bunkerhillmining.com

Cautionary Statements

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.

Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the Company’s ability to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been disclosed in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits contained in our website may not be comparable with information made public by companies that report in accordance with U.S. standards.

Aurania Signs New Access Agreement and Provides Update on Operations

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, February 15, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) announces that an important access agreement has been signed with the community of “Kim” at its Lost Cities-Cutucu project in southeastern Ecuador and provides an update on operations.

The Company yesterday signed an access agreement with the community of “Kim”, in the southern part of the block of concessions.  This is the first time the Company has been granted access to this important area.   At the community meeting there were a large number of artisanal gold miners.  The Kim community is located near where Metron (see press release dated September 26, 2019) forecasted the potential position of one of the “Lost Cities”.

Metron Inc. of Reston, Virginia, USA, used Bayesian data analysis to generate probability maps of the position of “Logroño de los Caballeros”, a gold mining settlement that was founded circa 1562 by the Spanish conquistadors, and abandoned circa 1605.  The location has been lost.  Numerous expeditions have been carried out over the intervening years to relocate it.  Metron incorporated historical documents, and clues from geography and geology into a “search matrix”, and then through statistical algorithms produced a map with statistical likelihoods the settlement would be in specific areas.  Kim will be a focus of work going forward.

Ms. Carolina Lasso Amaya has replaced the former Head of Corporate Social Responsibility for Aurania.  Ms. Lasso has been the Director of the Step Forward Foundation (Dar el Paso Adelante) in Ecuador for over two years and has extensive knowledge of the communities in the Cordillera de Cutucu.  Her first act has been to successfully negotiate access to Kim.

Prior to joining the Foundation in 2019, Ms. Lasso worked from 2011 to 2017 for the Ministry of Foreign Affairs in Colombia, primarily working in the border areas of Amazonia with indigenous groups.  During this period, she also dealt with elements of the FARC, the Colombian Paramilitaries, cocaine growers, persons recruiting child soldiers and other difficult and potentially dangerous groups.  She developed post-conflict models to integrate communities into the social fabric.  During her time with the Foundation, she has initiated a number of clean water projects, nutritional projects, and the extremely popular “Warastai” soccer tournament between villages.  Such activities are important in gaining and maintaining social license to operate with Aurania’s stakeholders.  Ms. Lasso is an Ecuadorian resident and is fluent in both English and Spanish.

The number of daily new COVID-19 infected cases in the Province of Morona-Santiago where Aurania’s Project is located has now dropped in half from a month ago.  The Red Alert in Ecuador has not yet been lifted but there is optimism the pandemic is abating.

 

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

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

 

Forward-Looking Statements

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

Tuesday, February 15, 2022

Allegiant Gold (AUXXF)(AUAU:CA)
Drilling Program to Commence in March

Allegiant Gold Ltd is a gold exploration company. Its project profile consists of Bolo, Browns Canyon, Clara Moro, Four Metals, Monitor Hills, Red Hills, Silver Dome, West Goldfield, White Horse Flats, Mogollon, Eastside, Dutch Flat, and others.

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.

New roads improve access to drill targets. Allegiant has completed over 6 kilometers of additional roads at the Eastside project to improve access to the high-grade and east pediment zones and the western anomaly which will be targeted during the upcoming drilling program.


Drilling to commence in March.  Reverse circulation (RC) drilling will focus on the east pediment zone and the western anomaly and entail 35 holes, including 25 holes at the east pediment zone with an average depth of 200 meters per hole, and 10 holes at the western anomaly with an average depth of 300 meters per hole. Core drilling will begin in May to test the recently discovered high-grade zone …

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

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

Monday, February 14, 2022

Comstock Mining (LODE)
Aligning Business Plans with the EPA’s Renewable Fuels Standards

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.

Laying the groundwork. Comstock Mining released comments submitted to the U.S. Environmental Protection Agency (EPA) proposing changes to renewable fuel standard rules governing the use of biomass-derived intermediates in the production of renewable fuels that qualify for federal incentives under the EPA’s Renewable Fuel Standard (RFS) program. Recall the company’s cellulosic fuels extraction and processing technologies are designed to convert woody biomass into renewable energy products, including carbon-neutral bio-intermediates and other precursors for renewable fuels.


Proposed changes to RFS rules.  Comstock proposes that the EPA: 1) expand definitions of biocrude, bio-intermediates, and renewable biomass to include bio-intermediates produced by thermal, chemical, and biological processes, 2) add qualifying feedstocks for use in generating renewable identification numbers (RINs), 3) remove limits on multi-facility bio-intermediate transfers, 4) add new RIN …

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.