Sierra Metals Announces Changes to Its Organizational Structure, Following Strategic Review

Research, News, and Market Data on Sierra Metals

 

 TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) is pleased to announce the completion of an internal organizational review, following the strategic review announced in late 2021.

Sierra Metals is strengthening its current operating portfolio through various value-enhancing opportunities. These include:

– Increased focus on the production of copper and steel-making products such as zinc and iron-ore;

– Advancement of the Company’s mine expansion plans, with the aim of increasing the return at both the Yauricocha and Bolivar Mines;

– Re-activation of brownfield and greenfield exploration activities, throughout Sierra’s extensive resource base;

– Heightened focus on ESG, Human Capital and Permitting

In order to align the organization to effectively achieve these goals, as well as to overcome current operational issues, the following appointments have been made:

James León – Vice President, Operations

Effective February 1^st, following his previous appointment as Country Manager Perú, Mr. León will now manage both Yauricocha and Bolivar operations. Mr. León will be based in Mexico. He will oversee the delivery of increasingly improved operational results and efficiencies, following the difficult challenges Bolivar and Yauricocha have faced over the past two years.

Mr. León is a Peruvian Mining Engineer with over 25 years of experience and has been with Sierra Metals since August of 2017 in various roles including Operations Manager in Mexico until 2019, and then Country Manager in Peru.

Alonso Lujan – Vice President, Exploration

Effective February 1^st, as Vice President, Exploration, Mr. Lujan will focus on the extensive resource growth and business opportunities, in both brownfield and greenfield exploration, at our properties in Perú and México. Both Yauricocha and Bolivar are in underexplored, highly prospective geological regions, with another 80,000 Hectares of greenfield properties owned by Sierra Metals. His role is fully aligned with the strategic objective of unlocking the significant potential value at these properties.

Mr. Lujan is a Mexican Geological and Mining Engineer with over 30 years international experience in mineral exploration with a positive track record for increasing companies’ resources, output and company value.

Alberto Calle – Vice President, Human Resources

Effective November 1, 2021, Mr. Calle is taking the role of VP Human Resources, in charge of the HR function at Sierra Metals. Provided the changing environment and ongoing challenges on this area, this role is key to assist with strengthening our teams, and maintaining a healthy and motivated work environment, in both Peru and Mexico.

Mr. Calle has spent 20 years of his professional experience in Human Capital with 13 years dedicated to the large-scale mining industry. He previously held positions at MMG – Las Bambas as Human Resource Manager, and Regional Manager of Human Resources for Newmont

Juan Jose Mostajo – Vice President, Legal Affairs

Effective December 1, 2021, Mr. Mostajo joins our legal team and will assist in legal matters related to both Peru and Mexico. His role is key for managing the ongoing legal and permitting issues at both of our operations and supporting the strategy of the Company moving forward.

He has over 23 years of experience in the mining sector and has been legal advisor to various mining companies, both Peruvian and foreign. His previous positions include a role as part of the legal management team at Anglo American in Peru as well as Vice President of Legal Affairs of Minera Chinalco, Peru.

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

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 2020 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, 2020 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.

Aurania Provides Update on Exploration at Awacha and Announces Appointment of Keith Barron as President

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, January 28, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) provides an update on its exploration activities at the Awacha target area at its Lost Cities-Cutucu project in southeastern Ecuador.  There appears to be a large porphyry body and possibly others at Awacha.  The goal of field work here will be to define the porphyry targets in the area.  Awacha is geographically isolated from communities and the Company is following strict COVID-19 protocols while working.

Chairman, CEO and President, Dr. Keith Barron comments, “Over the upcoming month Aurania will be engaged in basic field exploration north of the Awacha porphyry target on lands that only became accessible to the Company through a signed agreement with the local Shuar stakeholders on January 19^th, 2022, prior to which we had never visited.  It is suspected that more porphyry bodies exist in this area.  On Awacha itself, soil sampling and field surveys are in progress.  Mobile Magnetotellurics (“MobileMT”) geophysics has indicated a buried conductive body in excess of 4 x 5 kilometres in size.  The anomaly has the “classic doughnut” shape of a porphyry body.  The conductive anomaly coincides with copper and molybdenum stream sediment anomalies (Figures 1 and 2), and with quartz-sericite-pyrite (“QSP”) alteration exposed in stream beds (see press release dated March 15, 2018).  This is classic “phyllic” alteration seen in porphyry systems (Figure 3).”

Aurania is also pleased to announce that Dr. Keith Barron will be assuming the role of President moving forward.  Dr. Barron is presently on the ground in Ecuador and is taking the reins of the Company’s COVID response.

Notwithstanding that year 2021 was a difficult year for the Company given the many pandemic issues to deal with, Aurania remains extremely optimistic about its future.  Aurania’s Board is studying all options to maximize value for our shareholders, and we continue to believe that there is significant value to our projects.

Figure 1 (left): MobileMT conductivity image of Awacha with molybdenum stream sediment results superimposed.

Figure 2 (right): MobileMT conductivity image of Awacha with copper stream sediment results superimposed.

Figure 3:  Example of quartz-sericite-pyrite phyllic alteration at Awacha.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: before 2020, the samples were prepared for analysis at ALS Global’s (“ALS”) lab in Quito, Ecuador and then sent to its analytical facility in Lima, Peru. Since 2020, the samples were prepared for analysis in MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: Stream sediment samples were wet-sieved through a 20 mesh (0.84mm) screen in the field and placed in cloth bags so that excess water could drain.  The samples were transported from the field to Aurania’s field office in Macas, Ecuador and batched for delivery to the laboratory for drying and screening at 80 mesh (0.18mm sieve aperture).  250g of the -80 mesh silt was pulverized to 85% passing 0.075mm.

Analytical procedure:  Approximately 0.5g split of the -80 mesh fraction of the stream silt underwent digestion with aqua regia and the liquid was analyzed for 51 elements by ICP-MS; and for gold by fire assay.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person
The geological information contained in this news release has been reviewed and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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.

Aurania Provides Update on Exploration at Awacha and Announces Appointment of Keith Barron as President

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, January 28, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) provides an update on its exploration activities at the Awacha target area at its Lost Cities-Cutucu project in southeastern Ecuador.  There appears to be a large porphyry body and possibly others at Awacha.  The goal of field work here will be to define the porphyry targets in the area.  Awacha is geographically isolated from communities and the Company is following strict COVID-19 protocols while working.

Chairman, CEO and President, Dr. Keith Barron comments, “Over the upcoming month Aurania will be engaged in basic field exploration north of the Awacha porphyry target on lands that only became accessible to the Company through a signed agreement with the local Shuar stakeholders on January 19^th, 2022, prior to which we had never visited.  It is suspected that more porphyry bodies exist in this area.  On Awacha itself, soil sampling and field surveys are in progress.  Mobile Magnetotellurics (“MobileMT”) geophysics has indicated a buried conductive body in excess of 4 x 5 kilometres in size.  The anomaly has the “classic doughnut” shape of a porphyry body.  The conductive anomaly coincides with copper and molybdenum stream sediment anomalies (Figures 1 and 2), and with quartz-sericite-pyrite (“QSP”) alteration exposed in stream beds (see press release dated March 15, 2018).  This is classic “phyllic” alteration seen in porphyry systems (Figure 3).”

Aurania is also pleased to announce that Dr. Keith Barron will be assuming the role of President moving forward.  Dr. Barron is presently on the ground in Ecuador and is taking the reins of the Company’s COVID response.

Notwithstanding that year 2021 was a difficult year for the Company given the many pandemic issues to deal with, Aurania remains extremely optimistic about its future.  Aurania’s Board is studying all options to maximize value for our shareholders, and we continue to believe that there is significant value to our projects.

Figure 1 (left): MobileMT conductivity image of Awacha with molybdenum stream sediment results superimposed.

Figure 2 (right): MobileMT conductivity image of Awacha with copper stream sediment results superimposed.

Figure 3:  Example of quartz-sericite-pyrite phyllic alteration at Awacha.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: before 2020, the samples were prepared for analysis at ALS Global’s (“ALS”) lab in Quito, Ecuador and then sent to its analytical facility in Lima, Peru. Since 2020, the samples were prepared for analysis in MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: Stream sediment samples were wet-sieved through a 20 mesh (0.84mm) screen in the field and placed in cloth bags so that excess water could drain.  The samples were transported from the field to Aurania’s field office in Macas, Ecuador and batched for delivery to the laboratory for drying and screening at 80 mesh (0.18mm sieve aperture).  250g of the -80 mesh silt was pulverized to 85% passing 0.075mm.

Analytical procedure:  Approximately 0.5g split of the -80 mesh fraction of the stream silt underwent digestion with aqua regia and the liquid was analyzed for 51 elements by ICP-MS; and for gold by fire assay.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person
The geological information contained in this news release has been reviewed and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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.

Sierra Metals Announces Changes to Its Organizational Structure, Following Strategic Review

Research, News, and Market Data on Sierra Metals

 

 TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) is pleased to announce the completion of an internal organizational review, following the strategic review announced in late 2021.

Sierra Metals is strengthening its current operating portfolio through various value-enhancing opportunities. These include:

– Increased focus on the production of copper and steel-making products such as zinc and iron-ore;

– Advancement of the Company’s mine expansion plans, with the aim of increasing the return at both the Yauricocha and Bolivar Mines;

– Re-activation of brownfield and greenfield exploration activities, throughout Sierra’s extensive resource base;

– Heightened focus on ESG, Human Capital and Permitting

In order to align the organization to effectively achieve these goals, as well as to overcome current operational issues, the following appointments have been made:

James León – Vice President, Operations

Effective February 1^st, following his previous appointment as Country Manager Perú, Mr. León will now manage both Yauricocha and Bolivar operations. Mr. León will be based in Mexico. He will oversee the delivery of increasingly improved operational results and efficiencies, following the difficult challenges Bolivar and Yauricocha have faced over the past two years.

Mr. León is a Peruvian Mining Engineer with over 25 years of experience and has been with Sierra Metals since August of 2017 in various roles including Operations Manager in Mexico until 2019, and then Country Manager in Peru.

Alonso Lujan – Vice President, Exploration

Effective February 1^st, as Vice President, Exploration, Mr. Lujan will focus on the extensive resource growth and business opportunities, in both brownfield and greenfield exploration, at our properties in Perú and México. Both Yauricocha and Bolivar are in underexplored, highly prospective geological regions, with another 80,000 Hectares of greenfield properties owned by Sierra Metals. His role is fully aligned with the strategic objective of unlocking the significant potential value at these properties.

Mr. Lujan is a Mexican Geological and Mining Engineer with over 30 years international experience in mineral exploration with a positive track record for increasing companies’ resources, output and company value.

Alberto Calle – Vice President, Human Resources

Effective November 1, 2021, Mr. Calle is taking the role of VP Human Resources, in charge of the HR function at Sierra Metals. Provided the changing environment and ongoing challenges on this area, this role is key to assist with strengthening our teams, and maintaining a healthy and motivated work environment, in both Peru and Mexico.

Mr. Calle has spent 20 years of his professional experience in Human Capital with 13 years dedicated to the large-scale mining industry. He previously held positions at MMG – Las Bambas as Human Resource Manager, and Regional Manager of Human Resources for Newmont

Juan Jose Mostajo – Vice President, Legal Affairs

Effective December 1, 2021, Mr. Mostajo joins our legal team and will assist in legal matters related to both Peru and Mexico. His role is key for managing the ongoing legal and permitting issues at both of our operations and supporting the strategy of the Company moving forward.

He has over 23 years of experience in the mining sector and has been legal advisor to various mining companies, both Peruvian and foreign. His previous positions include a role as part of the legal management team at Anglo American in Peru as well as Vice President of Legal Affairs of Minera Chinalco, Peru.

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

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 2020 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, 2020 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.

Thursday, January 27, 2022

Aurania Resources (AUIAF)(ARU:CA)
Temporary Suspension of Activities in Ecuador; Key Executive Departs

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.

Temporary suspension of activities. Aurania has suspended a majority of activities temporarily in Ecuador where the government recently issued a “Red Alert” for 193 of 195 Cantons due to increasing coronavirus cases. Due to the area where it operates, Aurania has greater exposure to indigenous communities that are vulnerable to infection. Moreover, there are currently nine active COVID cases among Aurania’s personnel. The suspension of activities is expected to last roughly one month although field work may continue with reduced personnel in areas where there is no interaction with local communities.


Tsenken Hole 9 Results.  Results were received from Hole TSN1-009 at Tsenken which tested for copper-silver mineralization in evaporite mineral beds within sedimentary layers and sampled the contact of a salt wall lying along a prominent fault structure. The hole was intended to intersect a target at a depth of 400 to 500 meters but stopped at a depth of 369 meters due to a collapse in the salt …

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. 

Wednesday, January 26, 2022

Sierra Metals (SMTS)(SMT:CA)
Darkest Before The Dawn

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

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

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 production. During the fourth quarter, Sierra Metals produced 6.1 million pounds of copper, 6.0 million pounds of lead, 14.9 million pounds of zinc, 1.9 thousand ounces of gold, and 805 thousand ounces of silver. Compared with the prior year period, fourth quarter production of copper, lead, zinc, gold, and silver declined 42.9%, 21.2%, 31.0%, 44.6%, and 12.7%, respectively, and declined 26.5%, 23.3%, 22.0%, 17.6%, and 0.2% sequentially. The quarter reflected operational challenges, and while Cusi and Yauricocha are approaching normalized operations, infill drilling and mine development is needed at Bolivar to normalize operations by the end of the second quarter. Compared to 2020, full year silver production increased 1.8%, while copper, lead, zinc, and gold production declined 28.3%, 6.5%, 3.2%, and 30.5%, respectively.


Updating estimates.  We are lowering our 2021 EPS and EBITDA estimates to $0.06 and $89.7 million from $0.13 and $105.7 million, respectively, to reflect lower production. We also lowered our 2022 EPS and EBITDA estimates to $0.22 and $121.8 million from $0.36 and $163.2 million, respectively, which reflects a steady improvement in operating performance that is back-end loaded. Our preliminary 2023 …

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

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

Aurania Provides Update On Operations

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, January 26, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) provides an update on its operations and announces a temporary suspension of most activities at its Lost Cities-Cutucu project in southeastern Ecuador as a result of recent COVID-19 guidelines.

There are currently 9 active COVID cases among our personnel and our General Manager is in quarantine because a family member is infected. Ecuador is beginning to experience an increase in the number of cases nationwide, and on January 16^th a “Red Alert” was issued by the Ecuador Government for 193 of 195 Cantons.  We are required under Ecuadorian law to follow the guidelines imposed by the Ministry of Health and the Ministry of Labour and the protocols that we were required to submit to the Government last year.  Because the Omicron Variant appears to be much more transmissible than any other COVID variant to date, we are taking the decision to suspend the majority of our field activities more or less over the next month in order to protect our employees and the local communities in which we operate.  Where possible we may continue field work with a reduced contingent in those remote areas where there is no interaction with local communities.

Laboratory analyses have been received from hole TSN1-009 at Tsenken, designed to sample the contact of a “salt wall” lying along a prominent fault structure.  Such sites have historically yielded abundant copper from projects in Peru and so the drill hole was meant to test an analogous geological setting.  The hole collapsed due to caving in salt at a downhole depth of 369 metres.  It was projected to intersect the target area at 400-500 metres.  Low anomalous copper and silver were returned from a 9-metre interval downhole at 321 to 331 metres.  Within this intersection breccia clasts containing chalcocite, a copper sulphide, were noted.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been reviewed and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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.

CanAlaska Deals Further Three Uranium Projects for AUD$15M

Research, News, and Market Data on CanAlaska Uranium

 

Basin Energy has Staged Option to Earn up to 80% Interest in Two Properties and Additional Option to Earn up to 100% in One Property

Focus on High-Grade Eastern Athabasca Basement and Unconformity Uranium Targets

Vancouver, Canada, January 26, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce it has entered into a Letter of Intent (“LOI”) with Basin Energy Limited (“Basin Energy”), an Australian unlisted public company, to allow Basin Energy to earn up to an 80% interest in CanAlaska’s 100%-owned North Millennium and Geikie projects, and a 100% interest in CanAlaska’s 100%-owned Marshall project. These projects total 50,994.56 hectares in the Eastern Athabasca Basin in Saskatchewan, Canada (the “Projects”) (Figure 1).

North Millennium and Geikie Projects

Basin Energy may earn up to an 80% interest in each of the North Millennium and Geikie projects by undertaking work and milestone payments in three defined earn-in stages on each project.

• Basin Energy may earn an initial 40% interest (“40% Option”) in each of the projects by paying the Company AUD$41,666.66 cash per project and issuing 6.66% worth of ordinary shares in Basin Energy’s capital structure as at listing on the Australian Securities Exchange (“ASX”) per project within 180 days following execution of a definitive Property Option Agreement (“POA”). Basin Energy will have the right to extend the 40% Option on a month-by-month basis for up to three (3) consecutive months upon payment of an option extension fee of AUD$8,333 per month per project.
• Basin Energy may earn an additional 20% interest (“60% Option”) in each of the projects by incurring AUD$2,500,000 in exploration expenditures per project within 24 months of the ASX listing date.
• Basin Energy may earn an additional 20% interest (“80% Option”) in each of the projects by issuing a further 2,250,000 ordinary shares in Basin Energy per project and incurring an additional AUD$5,000,000 (total: AUD$7,500,000) in exploration expenditures per project within 48 months of the ASX listing date and granting the Company a 2.75% net smelter returns (“NSR”) royalty on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR per project.
• CanAlaska will be operator of the projects through the 60% Option threshold and charge an operator fee.
• Basin Energy will be obligated to keep and maintain the North Millennium and Geikie claims in good standing for a minimum period of one year at all times during the term of the POA.
• A Joint Technical Operating Committee (“JTOC”) will be established. Basin Energy will have the deciding vote on all expenditures to be incurred on the claims during the term of the POA.

After successful completion of either of the 40% Option or 60% Option stages of the agreement, and if Basin Energy elects to not enter the final stage, a joint venture will be formed and the parties will co-contribute on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. If either party dilutes to a 10% interest, the diluting party will automatically forfeit its interest in the respective project and in lieu thereof will be granted a 2.75% net smelter returns (NSR) royalty on the respective property on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR, except that, this provision will not apply to CanAlaska if CanAlaska has already been granted the 2.75% NSR prior to diluting to a 10% interest.

An area of mutual interest will be established that extends two kilometres from the boundary of the claims.

 

Marshall Project

Basin Energy may acquire a 100% interest in the Marshall project by:

• Paying the Company AUD$41,666.66 cash and issuing 6.66% worth of ordinary shares in Basin Energy’s capital structure as at listing on the ASX within 180 days following execution of a definitive POA. Basin Energy will have the right to extend the payment period on a month-by-month basis for up to three (3) consecutive months upon payment of an option extension fee of AUD$8,333 per month.
• Granting to the Company a 2.75% net smelter returns (“NSR”) royalty on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR.
• CanAlaska and Basin Energy will enter into an agreement, on terms acceptable to both parties, pursuant to which Basin Energy will engage the Company to be the operator of the initial AUD$1,500,000 work program on the property after closing of the transaction. CanAlaska will be entitled to charge Basin Energy an operator fee.

 

About Basin Energy Limited

Basin Energy Limited (ACN 655 515 110) is an Australian unlisted uranium exploration and development company incorporated for the purpose of pursuing highly prospective uranium opportunities globally. It is a condition of completion of this transaction that Basin Energy be listed on the ASX.

CanAlaska CEO, Cory Belyk, comments, “CanAlaska is very pleased to work with Basin Energy, another pending Australian-listed player in the Athabasca Basin, to help fund the next stages of exploration on these new and highly prospective Eastern Athabasca uranium projects we staked in 2021. This very significant investment by Basin Energy is another example of CanAlaska’s project generator model at work that will allow for discovery opportunities for our shareholders without dilution in our core Eastern Athabasca projects.”

 

Other News

The Company is currently drilling on its Waterbury South project near the Cigar Lake mine.

 

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.

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.

A Visit To Aurania’s Lost Cities Project With Prof. Gregor Borg: Part 3

Research, News, and Market Data on Aurania Resources

 

Independent consultant, Dr. Gregor Borg provides feedback following his recent visit to Aurania’s Lost Cities – Cutucu project in southeastern Ecuador.  Professor Borg has completed three site visits to date.

In Part 3 of this interview-style video, Professor Borg discusses the presence of salt in the Cutucu Basin.

A Visit To Aurania’s Lost Cities Project With Prof. Gregor Borg: Part 3

Research, News, and Market Data on Aurania Resources

 

Independent consultant, Dr. Gregor Borg provides feedback following his recent visit to Aurania’s Lost Cities – Cutucu project in southeastern Ecuador.  Professor Borg has completed three site visits to date.

In Part 3 of this interview-style video, Professor Borg discusses the presence of salt in the Cutucu Basin.

CanAlaska Deals Further Three Uranium Projects for AUD$15M

Research, News, and Market Data on CanAlaska Uranium

 

Basin Energy has Staged Option to Earn up to 80% Interest in Two Properties and Additional Option to Earn up to 100% in One Property

Focus on High-Grade Eastern Athabasca Basement and Unconformity Uranium Targets

Vancouver, Canada, January 26, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce it has entered into a Letter of Intent (“LOI”) with Basin Energy Limited (“Basin Energy”), an Australian unlisted public company, to allow Basin Energy to earn up to an 80% interest in CanAlaska’s 100%-owned North Millennium and Geikie projects, and a 100% interest in CanAlaska’s 100%-owned Marshall project. These projects total 50,994.56 hectares in the Eastern Athabasca Basin in Saskatchewan, Canada (the “Projects”) (Figure 1).

North Millennium and Geikie Projects

Basin Energy may earn up to an 80% interest in each of the North Millennium and Geikie projects by undertaking work and milestone payments in three defined earn-in stages on each project.

• Basin Energy may earn an initial 40% interest (“40% Option”) in each of the projects by paying the Company AUD$41,666.66 cash per project and issuing 6.66% worth of ordinary shares in Basin Energy’s capital structure as at listing on the Australian Securities Exchange (“ASX”) per project within 180 days following execution of a definitive Property Option Agreement (“POA”). Basin Energy will have the right to extend the 40% Option on a month-by-month basis for up to three (3) consecutive months upon payment of an option extension fee of AUD$8,333 per month per project.
• Basin Energy may earn an additional 20% interest (“60% Option”) in each of the projects by incurring AUD$2,500,000 in exploration expenditures per project within 24 months of the ASX listing date.
• Basin Energy may earn an additional 20% interest (“80% Option”) in each of the projects by issuing a further 2,250,000 ordinary shares in Basin Energy per project and incurring an additional AUD$5,000,000 (total: AUD$7,500,000) in exploration expenditures per project within 48 months of the ASX listing date and granting the Company a 2.75% net smelter returns (“NSR”) royalty on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR per project.
• CanAlaska will be operator of the projects through the 60% Option threshold and charge an operator fee.
• Basin Energy will be obligated to keep and maintain the North Millennium and Geikie claims in good standing for a minimum period of one year at all times during the term of the POA.
• A Joint Technical Operating Committee (“JTOC”) will be established. Basin Energy will have the deciding vote on all expenditures to be incurred on the claims during the term of the POA.

After successful completion of either of the 40% Option or 60% Option stages of the agreement, and if Basin Energy elects to not enter the final stage, a joint venture will be formed and the parties will co-contribute on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. If either party dilutes to a 10% interest, the diluting party will automatically forfeit its interest in the respective project and in lieu thereof will be granted a 2.75% net smelter returns (NSR) royalty on the respective property on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR, except that, this provision will not apply to CanAlaska if CanAlaska has already been granted the 2.75% NSR prior to diluting to a 10% interest.

An area of mutual interest will be established that extends two kilometres from the boundary of the claims.

 

Marshall Project

Basin Energy may acquire a 100% interest in the Marshall project by:

• Paying the Company AUD$41,666.66 cash and issuing 6.66% worth of ordinary shares in Basin Energy’s capital structure as at listing on the ASX within 180 days following execution of a definitive POA. Basin Energy will have the right to extend the payment period on a month-by-month basis for up to three (3) consecutive months upon payment of an option extension fee of AUD$8,333 per month.
• Granting to the Company a 2.75% net smelter returns (“NSR”) royalty on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR.
• CanAlaska and Basin Energy will enter into an agreement, on terms acceptable to both parties, pursuant to which Basin Energy will engage the Company to be the operator of the initial AUD$1,500,000 work program on the property after closing of the transaction. CanAlaska will be entitled to charge Basin Energy an operator fee.

 

About Basin Energy Limited

Basin Energy Limited (ACN 655 515 110) is an Australian unlisted uranium exploration and development company incorporated for the purpose of pursuing highly prospective uranium opportunities globally. It is a condition of completion of this transaction that Basin Energy be listed on the ASX.

CanAlaska CEO, Cory Belyk, comments, “CanAlaska is very pleased to work with Basin Energy, another pending Australian-listed player in the Athabasca Basin, to help fund the next stages of exploration on these new and highly prospective Eastern Athabasca uranium projects we staked in 2021. This very significant investment by Basin Energy is another example of CanAlaska’s project generator model at work that will allow for discovery opportunities for our shareholders without dilution in our core Eastern Athabasca projects.”

 

Other News

The Company is currently drilling on its Waterbury South project near the Cigar Lake mine.

 

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.

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.

Aurania Provides Update On Operations

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, January 26, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) provides an update on its operations and announces a temporary suspension of most activities at its Lost Cities-Cutucu project in southeastern Ecuador as a result of recent COVID-19 guidelines.

There are currently 9 active COVID cases among our personnel and our General Manager is in quarantine because a family member is infected. Ecuador is beginning to experience an increase in the number of cases nationwide, and on January 16^th a “Red Alert” was issued by the Ecuador Government for 193 of 195 Cantons.  We are required under Ecuadorian law to follow the guidelines imposed by the Ministry of Health and the Ministry of Labour and the protocols that we were required to submit to the Government last year.  Because the Omicron Variant appears to be much more transmissible than any other COVID variant to date, we are taking the decision to suspend the majority of our field activities more or less over the next month in order to protect our employees and the local communities in which we operate.  Where possible we may continue field work with a reduced contingent in those remote areas where there is no interaction with local communities.

Laboratory analyses have been received from hole TSN1-009 at Tsenken, designed to sample the contact of a “salt wall” lying along a prominent fault structure.  Such sites have historically yielded abundant copper from projects in Peru and so the drill hole was meant to test an analogous geological setting.  The hole collapsed due to caving in salt at a downhole depth of 369 metres.  It was projected to intersect the target area at 400-500 metres.  Low anomalous copper and silver were returned from a 9-metre interval downhole at 321 to 331 metres.  Within this intersection breccia clasts containing chalcocite, a copper sulphide, were noted.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been reviewed and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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, January 25, 2022

Great Bear Resources (GTBAF)(GBR:CA)
Special Meeting To Approve Acquisition by Kinross Scheduled for February 14

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.

Special meeting of security holders on February 14. A special meeting of security holders will be held on February 14 at 10:00 am PT to consider and approve the proposed acquisition of Great Bear Resources by Kinross Gold Corporation (TSX: K, NYSE: KGC) that was announced on December 8, 2021. The meeting will be held virtually via live audio webcast. A management information circular, along with other materials, were mailed to shareholders and contain important instructions.


Terms of the transaction.  Great Bear shareholders will have the option to receive either: 1) C$29.00 in cash, or 2) 3.8564 Kinross shares per Great Bear share, subject to pro-ration, up to aggregate maximums of 75% cash and 40% Kinross shares on a fully diluted basis. The agreement also provides contingent consideration for Great Bear shareholders based on certain milestones …

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*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.