Friday, February 25, 2022

Newrange Gold Corp. (NRGOF)(NRG:CA)
Newrange Closes First Tranche of Financing

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.

Non-flow-through financing. Newrange Gold closed the first tranche of a private placement and received gross proceeds of ~C$408,100 with the issuance of 5,830,332 non-flow-through (NFT) units at a price of C$0.07 per unit. Management and insiders acquired a total of 1,615,000 units. Each NFT unit is comprised of one common share and one-half share purchase warrant. Each whole NFT warrant may be exercised to purchase one common share for C$0.12 at any time until February 23, 2024. A second and final tranche to raise gross proceeds of ~C$100,000 is expected to close in approximately two weeks. Proceeds will be used, among other things, to fund surface exploration at the Pamlico project in Nevada.


Flow-through financing.  Newrange expects to raise up to C$1,500,000 with the issuance of up to 15 million flow-through (FT) units at a price of C$0.10 per FT unit in a private placement. Each unit is comprised of one common share and one-half share purchase warrant. Each whole FT warrant may be exercised to purchase one common share at a price of C$0.12 at any time until February 23, 2024. Proceeds …

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. 

Sierra Metals Announces the Appointment of Dawn Whittaker to Its Board of Directors

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or ““Company”) announces the appointment of Ms. Dawn Whittaker to its Board of Directors effective immediately.

Ms. Whittaker is a legal professional with over 30 years of experience in corporate law. She has provided legal counsel in domestic and international mergers and acquisitions and corporate finance transactions, including take-overs, joint ventures and strategic alliances, and in commercial transactions, corporate governance, directors’ and officers’ liabilities and shareholder rights. She retired as a Senior Partner from Norton Rose Fulbright in June of 2018 where she served as the Canadian Head of the firm’s mining practice.

Having served on numerous boards and committees throughout her career, Ms. Whittaker has a wealth of experience with both public and private companies and as a member of governance, audit, compensation and strategic review committees. She is currently Chair of the Board of Directors and a member of the Audit Committee for Triple Flag Precious Metals Corp. and previously served on the Board of Directors for Detour Gold and Kirkland Lake Gold. In addition, she is currently the Vice President of the Board of Directors for the Badminton and Racquet Club of Toronto where she is a member. She has also served on the Board of the Canadian Mental Health Association and was on the Nominating and Governance Committee of the Ontario Division of the Canadian Cancer Society.

Jose Vizquerra, Chairman of Sierra Metals, commented: “On behalf of the Board and Management, I would like to welcome Dawn to the Sierra Metals Board of Directors. Dawn’s expertise in legal and governance matters complements the skills and experiences of our Board, making her a valuable addition as an independent director. We believe Dawn will provide important perspective and will help execute the Company’s corporate strategic goals and deliver maximum value for shareholders.”

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.

Sierra Metals Announces the Appointment of Dawn Whittaker to Its Board of Directors

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or ““Company”) announces the appointment of Ms. Dawn Whittaker to its Board of Directors effective immediately.

Ms. Whittaker is a legal professional with over 30 years of experience in corporate law. She has provided legal counsel in domestic and international mergers and acquisitions and corporate finance transactions, including take-overs, joint ventures and strategic alliances, and in commercial transactions, corporate governance, directors’ and officers’ liabilities and shareholder rights. She retired as a Senior Partner from Norton Rose Fulbright in June of 2018 where she served as the Canadian Head of the firm’s mining practice.

Having served on numerous boards and committees throughout her career, Ms. Whittaker has a wealth of experience with both public and private companies and as a member of governance, audit, compensation and strategic review committees. She is currently Chair of the Board of Directors and a member of the Audit Committee for Triple Flag Precious Metals Corp. and previously served on the Board of Directors for Detour Gold and Kirkland Lake Gold. In addition, she is currently the Vice President of the Board of Directors for the Badminton and Racquet Club of Toronto where she is a member. She has also served on the Board of the Canadian Mental Health Association and was on the Nominating and Governance Committee of the Ontario Division of the Canadian Cancer Society.

Jose Vizquerra, Chairman of Sierra Metals, commented: “On behalf of the Board and Management, I would like to welcome Dawn to the Sierra Metals Board of Directors. Dawn’s expertise in legal and governance matters complements the skills and experiences of our Board, making her a valuable addition as an independent director. We believe Dawn will provide important perspective and will help execute the Company’s corporate strategic goals and deliver maximum value for shareholders.”

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.

Chakana Copper Announces Filing Of Technical Report For Previously Reported Inferred Mineral Resources For Soledad Project, Peru

Research, News, and Market Data on Chakana Copper

 

Vancouver, B.C., February 23, 2022 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), announced today that the corporation has filed on SEDAR a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Project (“NI-43-101”) supporting the inferred mineral resource statement for the Soledad Project located in Ancash, Peru. The highlights of the Report were previously announced in a news release dated January 11, 2022, and the effective date of the Report is January 3, 2022. The technical report, titled “Independent Technical Report for the Soledad Copper Project, Ancash Department, Peru”, can be found under the Corporation’s issuer profile at www.sedar.com.

Highlights of the Mineral Resource Estimate:

• Inferred Resources were estimated for seven breccia pipes that start at surface and extend to an average depth of approximately 300 metres; all zones remain open at depth

• Inferred Resources of 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper assumed to be extractable by underground mining methods

• Inferred Resources of 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper assumed to be extractable by open pit mining methods

• The total initial Inferred Resource contains 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper

• Opportunities for increasing the Inferred Resources include drill testing numerous additional breccia pipes and other targets identified on the property and extending the known mineralized zones at depth from the current Inferred Resources

• Only 16 out of 110 (15%) current targets have been tested to date, seven of which are included in the initial Inferred Resource estimate; several of the tested targets are mineralized but not yet included in the initial Inferred Resource as they require additional definition drilling

As previously reported, copper-gold-silver mineralization at the Soledad project is hosted within multiple, vertically extensive tourmaline breccia pipes; important minerals are chalcopyrite, gold, electrum, and tetrahedrite. The resource estimate confirms that the tourmaline breccia pipes at Soledad host significant mineralization with good continuity. The pipes exhibit strong zonation between gold, copper, and silver. Drilling has confirmed the existence of blind breccia pipes that do not crop out a surface (Bx 1 North Zone), and breccia pipes that do crop out coalescing into larger breccias at depth (Huancarama East). The resource model, when combined with our other exploration data sets, helps refine the targeting model that will be used in future exploration drilling campaigns.

“This initial Inferred Resource is a blueprint for the much larger potential of the expanded Soledad project that now covers 4,200 hectares. Our ongoing exploration has defined numerous high-quality drill targets across the broader Soledad project. The Offset (3D) IP geophysical survey we are currently running has been particularly useful in defining targets with larger footprints, consistent with the signature of the larger breccia pipes we have drilled so far. We are excited about testing the broader exploration potential of the project and continuing our ESG programs that have matured over the last couple of years,” stated President and CEO David Kelley.

Mineral resources were estimated by W.F. Tanaka (FAusIMM) and audited and accepted by Dr. Gilles Arseneau (PGeo.) of ARSENEAU Consulting Services Inc. of Vancouver. Resources were estimated for seven tourmaline breccias by ordinary kriging into 5 by 5 by 10 m blocks. Grades were composited to 5 m length and silver composites were capped at 500 g/t for Breccia 1 and 720 g/t for Breccia 6.  

The mineral resources were estimated in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, as amended, and in accordance with National Instrument 43-101.  Near surface mineral resources were reported inside an optimized pit shell and at a dollar equivalent cut-off of US$ 25.00. The dollar equivalent is calculated using a US$1,600 per ounce for gold, US$20 per ounce for silver, and US$3.50 per pound for copper. Metallurgical recoveries were assumed to be 85% for gold, 75% for silver and 90% for copper. Material not captured by the optimized pit shell was assumed to be extractable by underground mining methods if the blocks were above a US$60 cut-off and represented a shape amenable to underground mining below the pit shell. Lead and zinc values also present at Soledad were not considered in the equivalent calculation.

 Based on the above parameters, ACS estimated that the Soledad Project contains 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper amenable to extraction by underground mining methods plus an additional 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper amenable to extraction by open pit mining methods.  All resources are classified as Inferred mineral resource as the term is defined by CIM. The QP is not aware of any known legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources or mineral reserves per section 3.4(d) of 43-101.

Soledad Project – Inferred Mineral Resource Statement ACS, effective January 3, 2022  

 *Numbers may not add up exactly due to rounding; ^ Cut-offs are based on $1,600/oz gold, $20/oz silver, and $3.50 /lb copper and assumed recoveries of 90% for copper, 85% for gold, and 75% for silver.

Qualified Persons

The Mineral Resource Estimate for the Soledad Project was prepared by Dr. Gilles Arseneau of Arseneau Consulting Services (ACS), an Independent Qualified Person (“QP”) as defined under NI 43-101, who has reviewed and approved the contents of this news release. The technical content of this news release has been reviewed and approved by David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101– Standards of Disclosure of Mineral Projects.

Sampling and Analytical Procedures
All core is cut in half and sampled in one-metre intervals within a secured area until transport in batches to the ALS facility in Callao, Lima, Peru.  Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24.  Over limit silver, copper, lead, and zinc are analyzed using the OG-46 procedure.

Results of previous drilling and additional information concerning the Project are available on Chakana’s SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD

(signed) “David Kelley”  
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: jjobin@chakanacopper.com

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Chakana Copper Announces Filing Of Technical Report For Previously Reported Inferred Mineral Resources For Soledad Project, Peru

Research, News, and Market Data on Chakana Copper

 

Vancouver, B.C., February 23, 2022 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), announced today that the corporation has filed on SEDAR a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Project (“NI-43-101”) supporting the inferred mineral resource statement for the Soledad Project located in Ancash, Peru. The highlights of the Report were previously announced in a news release dated January 11, 2022, and the effective date of the Report is January 3, 2022. The technical report, titled “Independent Technical Report for the Soledad Copper Project, Ancash Department, Peru”, can be found under the Corporation’s issuer profile at www.sedar.com.

Highlights of the Mineral Resource Estimate:

• Inferred Resources were estimated for seven breccia pipes that start at surface and extend to an average depth of approximately 300 metres; all zones remain open at depth

• Inferred Resources of 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper assumed to be extractable by underground mining methods

• Inferred Resources of 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper assumed to be extractable by open pit mining methods

• The total initial Inferred Resource contains 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper

• Opportunities for increasing the Inferred Resources include drill testing numerous additional breccia pipes and other targets identified on the property and extending the known mineralized zones at depth from the current Inferred Resources

• Only 16 out of 110 (15%) current targets have been tested to date, seven of which are included in the initial Inferred Resource estimate; several of the tested targets are mineralized but not yet included in the initial Inferred Resource as they require additional definition drilling

As previously reported, copper-gold-silver mineralization at the Soledad project is hosted within multiple, vertically extensive tourmaline breccia pipes; important minerals are chalcopyrite, gold, electrum, and tetrahedrite. The resource estimate confirms that the tourmaline breccia pipes at Soledad host significant mineralization with good continuity. The pipes exhibit strong zonation between gold, copper, and silver. Drilling has confirmed the existence of blind breccia pipes that do not crop out a surface (Bx 1 North Zone), and breccia pipes that do crop out coalescing into larger breccias at depth (Huancarama East). The resource model, when combined with our other exploration data sets, helps refine the targeting model that will be used in future exploration drilling campaigns.

“This initial Inferred Resource is a blueprint for the much larger potential of the expanded Soledad project that now covers 4,200 hectares. Our ongoing exploration has defined numerous high-quality drill targets across the broader Soledad project. The Offset (3D) IP geophysical survey we are currently running has been particularly useful in defining targets with larger footprints, consistent with the signature of the larger breccia pipes we have drilled so far. We are excited about testing the broader exploration potential of the project and continuing our ESG programs that have matured over the last couple of years,” stated President and CEO David Kelley.

Mineral resources were estimated by W.F. Tanaka (FAusIMM) and audited and accepted by Dr. Gilles Arseneau (PGeo.) of ARSENEAU Consulting Services Inc. of Vancouver. Resources were estimated for seven tourmaline breccias by ordinary kriging into 5 by 5 by 10 m blocks. Grades were composited to 5 m length and silver composites were capped at 500 g/t for Breccia 1 and 720 g/t for Breccia 6.  

The mineral resources were estimated in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, as amended, and in accordance with National Instrument 43-101.  Near surface mineral resources were reported inside an optimized pit shell and at a dollar equivalent cut-off of US$ 25.00. The dollar equivalent is calculated using a US$1,600 per ounce for gold, US$20 per ounce for silver, and US$3.50 per pound for copper. Metallurgical recoveries were assumed to be 85% for gold, 75% for silver and 90% for copper. Material not captured by the optimized pit shell was assumed to be extractable by underground mining methods if the blocks were above a US$60 cut-off and represented a shape amenable to underground mining below the pit shell. Lead and zinc values also present at Soledad were not considered in the equivalent calculation.

 Based on the above parameters, ACS estimated that the Soledad Project contains 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper amenable to extraction by underground mining methods plus an additional 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper amenable to extraction by open pit mining methods.  All resources are classified as Inferred mineral resource as the term is defined by CIM. The QP is not aware of any known legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources or mineral reserves per section 3.4(d) of 43-101.

Soledad Project – Inferred Mineral Resource Statement ACS, effective January 3, 2022  

 *Numbers may not add up exactly due to rounding; ^ Cut-offs are based on $1,600/oz gold, $20/oz silver, and $3.50 /lb copper and assumed recoveries of 90% for copper, 85% for gold, and 75% for silver.

Qualified Persons

The Mineral Resource Estimate for the Soledad Project was prepared by Dr. Gilles Arseneau of Arseneau Consulting Services (ACS), an Independent Qualified Person (“QP”) as defined under NI 43-101, who has reviewed and approved the contents of this news release. The technical content of this news release has been reviewed and approved by David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101– Standards of Disclosure of Mineral Projects.

Sampling and Analytical Procedures
All core is cut in half and sampled in one-metre intervals within a secured area until transport in batches to the ALS facility in Callao, Lima, Peru.  Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24.  Over limit silver, copper, lead, and zinc are analyzed using the OG-46 procedure.

Results of previous drilling and additional information concerning the Project are available on Chakana’s SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD

(signed) “David Kelley”  
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: jjobin@chakanacopper.com

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

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.

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.

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.

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:

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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.

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.