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  Metron incorporated historical documents, and clues from geography and geology into a “search matrix”, and then through statistical algorithms produced a map with statistical likelihoods the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. 

Allegiant to Commence 12,000+ Metres of Drilling at Eastside, Including Deep Drilling of High-Grade Zone

Research, News, and Market Data on Allegiant Gold

 

Completes Over 6 Km of Roadbuilding

RENO, Nevada, Feb. 14, 2022 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the completion of additional road building at Eastside and the commencement of drilling to occur in March 2022.

Allegiant has recently built over 6 kilometres of additional roads over the past few months allowing direct access to the High-Grade Zone (“HGZ”) recently discovered in our last drilling program. The roads will also provide better access to the upcoming drill program at both the East Pediment and the Western Anomaly.

Allegiant plans to drill approximately 35 reverse circulation (“RC”) holes and 7 diamond core (“Core”) holes at Eastside in the upcoming drill program set to commence in March 2022 (see map below). Approximately 25 RC holes are planned at the East Pediment with an average depth of 200 metres per hole. At the Western Anomaly, Allegiant plans to drill 10 RC holes with an average depth of 300 metres per hole. The East Pediment drilling targets resistivity highs under shallow, alluvial cover (2-20 m.). The resistors have the same geophysical signatures as the rhyolite domes hosting most of the gold and silver in the area of past drilling at the Original Pit Zone (“OPZ”) Target. 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.

The 7 Core holes will have an average depth of 600 metres and are designed to test the recently discovered HGZ within the OPZ that yielded the following results:

• Hole 243 included 2.55 g/t Au over 147.8 metres (3.17 g/t Au over 117.3m)
• Hole 239 included 111.3m of 1.45 g/t Au including 3.1 metres of 39 g/t at the bottom of the hole.
• Hole 244 included 76 metres of mineralization with best intercept being 6.1m of 1.48 g/t Au
• Hole 245 included 15.2 metres of 3.4 g/t Au from relatively shallow depths (177m)

Allegiant anticipates the core drilling program to commence in May 2022. For further information, please see the following news release dated May 26, 2021 (https://allegiantgold.com/en/news/2021/allegiant-discovers-bonanza-gold-and-silver-grades-at-eastside/).

MAP 1: DRILL TARGETS

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

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to commence our much-anticipated follow-up drill program at Eastside. The building of these roads was crucial to allow us access to our drill targets around the HGZ at the Original Pit Zone at Eastside. We are now able to test and drill new prospective targets in and around the Original Pit Zone at Eastside with our recently amended Plan-of-Operations that greatly expands our permitted area by 500% to approximately 3,600 acres. We look forward to sharing the results with shareholders.”

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. 

Allegiant to Commence 12,000+ Metres of Drilling at Eastside, Including Deep Drilling of High-Grade Zone

Research, News, and Market Data on Allegiant Gold

 

Completes Over 6 Km of Roadbuilding

RENO, Nevada, Feb. 14, 2022 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the completion of additional road building at Eastside and the commencement of drilling to occur in March 2022.

Allegiant has recently built over 6 kilometres of additional roads over the past few months allowing direct access to the High-Grade Zone (“HGZ”) recently discovered in our last drilling program. The roads will also provide better access to the upcoming drill program at both the East Pediment and the Western Anomaly.

Allegiant plans to drill approximately 35 reverse circulation (“RC”) holes and 7 diamond core (“Core”) holes at Eastside in the upcoming drill program set to commence in March 2022 (see map below). Approximately 25 RC holes are planned at the East Pediment with an average depth of 200 metres per hole. At the Western Anomaly, Allegiant plans to drill 10 RC holes with an average depth of 300 metres per hole. The East Pediment drilling targets resistivity highs under shallow, alluvial cover (2-20 m.). The resistors have the same geophysical signatures as the rhyolite domes hosting most of the gold and silver in the area of past drilling at the Original Pit Zone (“OPZ”) Target. 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.

The 7 Core holes will have an average depth of 600 metres and are designed to test the recently discovered HGZ within the OPZ that yielded the following results:

• Hole 243 included 2.55 g/t Au over 147.8 metres (3.17 g/t Au over 117.3m)
• Hole 239 included 111.3m of 1.45 g/t Au including 3.1 metres of 39 g/t at the bottom of the hole.
• Hole 244 included 76 metres of mineralization with best intercept being 6.1m of 1.48 g/t Au
• Hole 245 included 15.2 metres of 3.4 g/t Au from relatively shallow depths (177m)

Allegiant anticipates the core drilling program to commence in May 2022. For further information, please see the following news release dated May 26, 2021 (https://allegiantgold.com/en/news/2021/allegiant-discovers-bonanza-gold-and-silver-grades-at-eastside/).

MAP 1: DRILL TARGETS

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

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to commence our much-anticipated follow-up drill program at Eastside. The building of these roads was crucial to allow us access to our drill targets around the HGZ at the Original Pit Zone at Eastside. We are now able to test and drill new prospective targets in and around the Original Pit Zone at Eastside with our recently amended Plan-of-Operations that greatly expands our permitted area by 500% to approximately 3,600 acres. We look forward to sharing the results with shareholders.”

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. 

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. 

Friday, February 11, 2022

Allegiant Gold (AUXXF)(AUAU:CA)
Building on a Successful 2021

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

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

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

Expectations for 2022. Reverse circulation (RC) drilling will focus on the east pediment zone and the western high-grade anomaly and entail thirty holes to about two hundred meters depth using one rig. Core drilling is planned to define high-grade areas discovered during the most recent drill program but could be deferred until May due to an eagle’s nest near the area of planned drilling. Allegiant has filed for an eagle take permit that would allow for the relocation of the eagles and nest that is near the high-grade zone. Otherwise, drilling would have to follow the eagle nesting cycle.


No near-term funding needs.  Allegiant closed a C$5 million financing in August and receives proceeds associated with its option portfolio, including cash and marketable securities. The company recently amended its Bolo option agreement with New Placer Dome Gold Corp. (TSX.V: NGLD, Not Rated) which provided Allegiant with US$650,000 in share and cash payments in December 2021 …

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

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

Comstock Urges U.S. EPA To Expand Renewable Fuel Incentives For Biointermediates

Research, News, and Market Data on Comstock Mining

 

Technologies Enable Dramatic Reduction in Carbon Intensity for America’s Decarbonization Portfolio

VIRGINIA CITY, NEVADA, FEBRUARY 10, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its submission of comments to the U.S. Environmental Protection Agency (“EPA”) calling for enhanced regulations 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”).

Comstock’s patented, patent-pending and proprietary portfolio of breakthrough Cellulosic Fuels technologies efficiently converts wasted, unused, widely-available, and rapidly-replenishable woody biomass into intermediates for the production of carbon neutral gasoline, renewable diesel, sustainable aviation fuel, marine fuel, ethanol, oils and other advanced renewable replacements for fossil fuel products.

“Our technologies broadly enable a powerful new feedstock model for multiple renewable fuel platforms by converting wasted and under-utilized woody biomass into biointermediates, including cellulosic sugar and a mixture of hydrocarbons called biocrude,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Our cellulosic sugar products are chemically identical to pure glucose, and capable of directly offsetting corn as a feedstock for fermentation in existing ethanol facilities. Likewise, our biocrude products have specifications that are similar to fossil crude, and are qualified for refining into drop-in fuels, such as gasoline, renewable diesel, sustainable aviation fuel, and marine fuel.”

Removing Limitations for Breakthrough Technologies

Under the current regulatory structure, Comstock would directly produce and sell renewable fuels to qualify for federal incentives under the RFS. However, the EPA proposed modifications to the RFS in December 2021 to accommodate the growing potential of using biointermediates in the production of renewable fuels. Comstock’s February 2022 comments to the EPA supported and urged inclusion of the full range of America’s available woody biomass resources to produce biointermediates for sale to multiple downstream renewable fuel producers, thereby expediting the transition from petroleum to renewable fuels, and enabling the transformational changes envisioned by the Biden Administration to address the challenges of climate change. Comstock also urged the EPA to revise the renewable identification number (“RIN”) program to create ambitious additional categories for new and emerging technologies that can achieve 80%, 100%, and 120% greenhouse gas (“GHG”) reductions, as compared to the existing 60% cap on GHG reduction in the current RIN program, to fairly incentivize and accelerate transformational change.

Transformational Economic Benefits

Comstock’s technologies can produce enough cellulosic sugar and biocrude to refine more than 70,000,000 gallons of ethanol and 30,000,000 gallons of renewable diesel from each 1,000,000 dry tons of woody biomass. For context, according to the U.S. Department of Energy, America has the potential to produce upwards of one billion dry tons of biomass per year, substantially comprised of wasted and under-utilized forestry and agricultural residuals that Comstock’s proven and shovel-ready Cellulosic Fuels technologies have the ability to convert into biointermediates.

“We plan to be extremely active in America’s wood basket,” added De Gasperis. “America has tremendous untapped reserves of woody biomass and under-utilized forestry and agricultural resources that could be simultaneously used to stimulate transformational economic and environmental change, by adding significant additional revenue and jobs into America’s rural economies, while producing biointermediate and other products that dramatically reduce GHG emissions as compared to conventional renewable fuel feedstocks. While we are prepared to use our technologies to directly produce renewable fuels, we can grow much faster and achieve far greater gains by producing and selling biointermediates to other renewable fuel producers. We are excited by EPA’s timely focus on these important regulations.”

Comstock’s team has extensive experience in the renewable fuel industry, having designed and built numerous biointermediate and renewable fuel production facilities in the United States. Most notably, Comstock’s team invented and commercialized processes used by more than 95% of the U.S. corn ethanol industry to produce distillers corn oil, a value-added biointermediate that has played a vital role in the growth and development of the corn ethanol, biodiesel, and renewable diesel industries. Comstock plans to apply this expertise to building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, with several potential sites currently under evaluation for development.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) innovates technologies that contribute to global decarbonization and circularity by shifting the consumption patterns of industries and populations. Comstock’s technologies are designed to do so by efficiently converting wasted and unused natural resources into valuable renewable energy products. Comstock intends to use its technologies to achieve exponential growth and extraordinary financial, natural and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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

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

Comstock Urges U.S. EPA To Expand Renewable Fuel Incentives For Biointermediates

Research, News, and Market Data on Comstock Mining

 

Technologies Enable Dramatic Reduction in Carbon Intensity for America’s Decarbonization Portfolio

VIRGINIA CITY, NEVADA, FEBRUARY 10, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its submission of comments to the U.S. Environmental Protection Agency (“EPA”) calling for enhanced regulations 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”).

Comstock’s patented, patent-pending and proprietary portfolio of breakthrough Cellulosic Fuels technologies efficiently converts wasted, unused, widely-available, and rapidly-replenishable woody biomass into intermediates for the production of carbon neutral gasoline, renewable diesel, sustainable aviation fuel, marine fuel, ethanol, oils and other advanced renewable replacements for fossil fuel products.

“Our technologies broadly enable a powerful new feedstock model for multiple renewable fuel platforms by converting wasted and under-utilized woody biomass into biointermediates, including cellulosic sugar and a mixture of hydrocarbons called biocrude,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Our cellulosic sugar products are chemically identical to pure glucose, and capable of directly offsetting corn as a feedstock for fermentation in existing ethanol facilities. Likewise, our biocrude products have specifications that are similar to fossil crude, and are qualified for refining into drop-in fuels, such as gasoline, renewable diesel, sustainable aviation fuel, and marine fuel.”

Removing Limitations for Breakthrough Technologies

Under the current regulatory structure, Comstock would directly produce and sell renewable fuels to qualify for federal incentives under the RFS. However, the EPA proposed modifications to the RFS in December 2021 to accommodate the growing potential of using biointermediates in the production of renewable fuels. Comstock’s February 2022 comments to the EPA supported and urged inclusion of the full range of America’s available woody biomass resources to produce biointermediates for sale to multiple downstream renewable fuel producers, thereby expediting the transition from petroleum to renewable fuels, and enabling the transformational changes envisioned by the Biden Administration to address the challenges of climate change. Comstock also urged the EPA to revise the renewable identification number (“RIN”) program to create ambitious additional categories for new and emerging technologies that can achieve 80%, 100%, and 120% greenhouse gas (“GHG”) reductions, as compared to the existing 60% cap on GHG reduction in the current RIN program, to fairly incentivize and accelerate transformational change.

Transformational Economic Benefits

Comstock’s technologies can produce enough cellulosic sugar and biocrude to refine more than 70,000,000 gallons of ethanol and 30,000,000 gallons of renewable diesel from each 1,000,000 dry tons of woody biomass. For context, according to the U.S. Department of Energy, America has the potential to produce upwards of one billion dry tons of biomass per year, substantially comprised of wasted and under-utilized forestry and agricultural residuals that Comstock’s proven and shovel-ready Cellulosic Fuels technologies have the ability to convert into biointermediates.

“We plan to be extremely active in America’s wood basket,” added De Gasperis. “America has tremendous untapped reserves of woody biomass and under-utilized forestry and agricultural resources that could be simultaneously used to stimulate transformational economic and environmental change, by adding significant additional revenue and jobs into America’s rural economies, while producing biointermediate and other products that dramatically reduce GHG emissions as compared to conventional renewable fuel feedstocks. While we are prepared to use our technologies to directly produce renewable fuels, we can grow much faster and achieve far greater gains by producing and selling biointermediates to other renewable fuel producers. We are excited by EPA’s timely focus on these important regulations.”

Comstock’s team has extensive experience in the renewable fuel industry, having designed and built numerous biointermediate and renewable fuel production facilities in the United States. Most notably, Comstock’s team invented and commercialized processes used by more than 95% of the U.S. corn ethanol industry to produce distillers corn oil, a value-added biointermediate that has played a vital role in the growth and development of the corn ethanol, biodiesel, and renewable diesel industries. Comstock plans to apply this expertise to building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, with several potential sites currently under evaluation for development.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) innovates technologies that contribute to global decarbonization and circularity by shifting the consumption patterns of industries and populations. Comstock’s technologies are designed to do so by efficiently converting wasted and unused natural resources into valuable renewable energy products. Comstock intends to use its technologies to achieve exponential growth and extraordinary financial, natural and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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

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

Wednesday, February 09, 2022

Chakana Copper Corp (CHKKF)(PERU:CA)
Preparing for the Next Round of Drilling

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

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 expected to resume in May. In 2022, the company will likely conduct a 10,000-meter exploration drilling program to test 20 new targets. We expect the company’s geophysics program and target ranking to be completed in April with drilling beginning in May using one rig. Outcomes from exploration drilling will likely determine high priority targets for a future resource drilling program.


Expectations for 2023.  We anticipate Chakana will drill test 20 new targets, or 500 meters of drilling on each target, in the southern portion of the project area, conduct a 30,000-meter resource drilling program on new discoveries, and to update its mineral resource estimate …

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. 

Allegiant Announces Amendment Of Bolo Option Agreement

Research, News, and Market Data on Allegiant Gold

 

Reno, Nevada /February 8, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the continuation of the option agreement at its 100%-owned Bolo Project with New Placer Dome Gold Corp (“New Placer Dome”).

New Placer Dome can earn an initial 50.01% interest in Bolo by making share payments to Allegiant totaling US$1 million and completing US$4 million in exploration expenditures. New Placer Dome made a share payment of US$250,000 in December 2021 to complete the aggregate US$1 million share payment required under the agreement. Furthermore, New Placer Dome had commenced drilling and an IP/resistivity geophysical survey in 2021 but was unable to fulfill the entire exploration expenditure requirements for the year. The parties agreed to amend the Bolo option agreement leading to an additional US$400,000 payment to Allegiant through a combination of US$250,000 in cash and US$150,000 in shares of New Placer Dome. New Placer Dome will have to spend US$1.5 million in the calendar year of 2022 in order to meet the remaining exploration expenditure requirement to earn into an initial 50.01% interest.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very pleased to have successfully resolved and amended the Bolo Option Agreement with New Placer Dome. This new amendment will allow for an aggressive drilling program at Bolo by New Placer Dome thereby advancing the project even further. Equally important, the amendment provided Allegiant with US$650,000 in share and cash payments in the month of December validating our business model of funding the Company with our option agreements while we continue to advance and develop Eastside, our flagship gold project near the town of Tonopah, NV.”

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.

Allegiant Announces Amendment Of Bolo Option Agreement

Research, News, and Market Data on Allegiant Gold

 

Reno, Nevada /February 8, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the continuation of the option agreement at its 100%-owned Bolo Project with New Placer Dome Gold Corp (“New Placer Dome”).

New Placer Dome can earn an initial 50.01% interest in Bolo by making share payments to Allegiant totaling US$1 million and completing US$4 million in exploration expenditures. New Placer Dome made a share payment of US$250,000 in December 2021 to complete the aggregate US$1 million share payment required under the agreement. Furthermore, New Placer Dome had commenced drilling and an IP/resistivity geophysical survey in 2021 but was unable to fulfill the entire exploration expenditure requirements for the year. The parties agreed to amend the Bolo option agreement leading to an additional US$400,000 payment to Allegiant through a combination of US$250,000 in cash and US$150,000 in shares of New Placer Dome. New Placer Dome will have to spend US$1.5 million in the calendar year of 2022 in order to meet the remaining exploration expenditure requirement to earn into an initial 50.01% interest.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very pleased to have successfully resolved and amended the Bolo Option Agreement with New Placer Dome. This new amendment will allow for an aggressive drilling program at Bolo by New Placer Dome thereby advancing the project even further. Equally important, the amendment provided Allegiant with US$650,000 in share and cash payments in the month of December validating our business model of funding the Company with our option agreements while we continue to advance and develop Eastside, our flagship gold project near the town of Tonopah, NV.”

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.

Defense Metals Corp. Announces Appointment Of Rare Earth Processing Expert John Goode To Advisory Board

News, and Market Data on Defense Metals

 

News Release – Vancouver, British Columbia – February 7, 2022:Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce the addition of John Goode, P.Eng. an internationally recognized rare earth element processing expert to the Defense Metals advisory board.

Mr. Goode has been responsible for design, monitoring, and interpretation of several programs of beneficiation and hydrometallurgical testwork, engineering and economic evaluations of new and existing processing operations for the recovery of rare earth element (REE), gold, base metals, uranium, and other elements from ore and other sources. John graduated from the Royal School of Mines, London University in 1963, where he obtained a B.Sc. (Chemical Engineering in Metallurgy). John spent 18 years at Kilborn Engineering, where he attained the title of Vice President, Mining and Metallurgy and Director, managing a team of mining and metallurgical engineers responsible for feasibility and due diligence studies, and the design and commissioning of REE recovery and separation facilities, gold, base metal, and uranium plants.  He has over 50 years experience as a metallurgist and has worked on numerous rare earth projects located in Canada, USA, China, Australia, Russia, and elsewhere.

Most recently John worked as a special consultant to SRK Canada Inc. providing design and capital and operating expenditure estimates for metallurgical processes in the recent positive Wicheeda REE Project preliminary economic assessment (PEA)[1]. John was instrumental in identifying potential simplified alternative hydrometallurgical processes for Wicheeda mill feed that have the potential to yield future process-cost savings.

Luisa Moreno, President and Director of Defense Metals commented: “We are extremely pleased to add John Goode, an internationally recognized rare earth element processing expert, to the Defense Metals advisory board. John has already contributed significantly to metallurgical process development of the Wicheeda REE Project, and we expect him to continue to bring his considerable expertise to bear in adding value to the Project as we advance towards a Pre-Feasibility Study.”

About the Wicheeda REE Property

The 2,008-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.

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

Qualified Persons

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

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

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

Cautionary Statement Regarding “Forward-Looking” Information

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

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