Endeavour Silver to Acquire the Pitarrilla Project, One of the World’s Largest Undeveloped Silver Projects¹, Leveraging Regional Platform and Operating Expertise in Mexico

Research, News, and Market Data on Endeavour Silver

 

VANCOUVER, British Columbia, Jan. 13, 2022 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (“Endeavour” or the “Company”) (TSX: EDR, NYSE: EXK) has entered into a definitive agreement to purchase the Pitarrilla project (“ Pitarrilla ”) in Durango State, Mexico by acquiring all of the issued and outstanding shares of SSR Durango, S.A. de C.V. (the “ Transaction ”) from SSR Mining Inc. (NASDAQ/TSX: SSRM; ASX: SSR) (” SSR Mining “) for total consideration of $70 million and a 1.25% net smelter returns royalty (“ NSR Royalty ”). All references to dollars ($) in this news release are to United States dollars (US$).

Pitarrilla is a large undeveloped silver, lead, and zinc project located 160 kilometres north of Durango City, in northern Mexico. The Pitarrilla property consists of 4,950 hectares across five concessions and has significant infrastructure in place with direct access to utilities. SSR Mining filed a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) titled “NI 43-101 Technical Report on the Pitarrilla Project” dated December 14, 2012 (the “ 2012 Technical Report ”). The 2012 Technical Report provided a feasibility study outlining a large, mainly open-pit operation and a mineral resource estimate, which has since been updated by SSR Mining for its Annual Information Form for the financial year ended December 31, 2020 (the “ SSR Mining 2020 AIF ”) (together, the “Historical Estimate” ) 2 .

“The acquisition of Pitarrilla, one of the world’s largest undeveloped silver projects 1 , accelerates our vision to become a premier senior silver producer,” said Dan Dickson, Endeavour’s Chief Executive Officer. “We now have a tremendous growth pipeline, which in addition to Pitarrilla includes the Terronera and Parral projects, in a country where we have extensive experience and expertise. While Terronera is the next project to be developed, we anticipate that Pitarrilla will be a significant asset in our portfolio and may take priority over the advancement of Parral. We will be in a position to make such a decision once we complete further drilling and analyze the economics of various scales and options for production.”

Total Consideration

Total consideration payable on closing of the Transaction is $70 million, consisting of $35 million in Endeavour shares and a further $35 million in cash or in Endeavour shares at the election of SSR Mining and agreed to by Endeavour. The number of Endeavour shares to be issued will be based on a deemed price of $4.0805 per share, being the volume weighted average price of Endeavour’s common shares on the New York Stock Exchange (“ NYSE ”) for the 10 business days immediately preceding the date of signing the definitive agreement. The shares will be subject to a hold period of four months and one day following the date of closing.

SSR Mining will retain a 1.25% NSR Royalty on Pitarrilla. Endeavour will have matching rights to purchase the NSR Royalty in the event SSR Mining proposes to sell it.

Any cash component will be satisfied with cash on hand. As at September 30, 2021, Endeavour had $101 million in cash and cash equivalents and $129 million in working capital.

Strategic Rationale for Acquisition

• Acquiring One of the World’s Largest Undeveloped Silver Projects
  • As outlined in the 2012 Technical Report and updated in the SSR Mining 2020 AIF, Pitarrilla has the following mineral resource estimate which Endeavour is treating as a Historical Estimate 3 :
    • a measured & indicated mineral resource (open-pit and underground) of 525.27 million ounces (oz) silver (Ag) in 164.79 million tonnes grading 99.1 grams per tonne (gpt) Ag.
    • an open-pit inferred mineral resource of 21.21 million oz Ag in 8.52 million tonnes at an average grade of 77.4 gpt and underground inferred mineral resource of 5.46 million oz Ag in 1.23 million tonnes at a grade of 138.1 gpt.
  • By way of comparison, Endeavour Silver has the following mineral reserve and resource estimates 4 as outlined in its Annual Information Form for the year ended December 31, 2020:
    • a proven and probable mineral reserve of 86.3 million oz silver equivalent (AgEq) from 6.99 million tonnes at 380 gpt AgEq.
    • a measured & indicated mineral resource of 43.7 million oz AgEq in 4.40 million tonnes at an average grade of 309 gpt AgEq.
    • an inferred mineral resource of 87.13 million oz AgEq in 8.04 million tonnes at an average grade of 337 gpt AgEq.
• Pitarrilla Leverages Endeavour’s Platform and Experience in Mining-Friendly Mexico
  • Acquisition is an excellent fit for Endeavour’s experienced regional team, which has a successful development, exploration and underground mining track record.
• Accretive Acquisition at an Attractive Valuation
  • Once a current resource is defined, Pitarrilla is expected to be substantially accretive on a silver equivalent resource per share metric — anticipate announcing a current resource in 2022.
  • Endeavour expects to maintain significant silver exposure, silver beta and trading multiples.
  • Pitarrilla provides additional optionality in a rising silver price environment.
• Enhances Endeavour’s Attractive Growth Pipeline
  • Pitarrilla, together with Endeavour’s Terronera and Parral projects, form the key cornerstones of Endeavour’s mid to long-term growth profile.
  • Over the next several years, analyze the economics of various scales of production, including underground option, and then advance towards potential development and production to strengthen Endeavour’s long-term production and free cash flow profile.
  • Currently categorized as a development asset, Pitarrilla has been de-risked by SSR Mining as follows:
    • several key exploration and mining permits have been obtained; and
    • collaboration agreements are in place with the local community.
• Potential Exploration Upside as Land Package Remains Largely Underexplored
  • Deposit remains open with minimal drilling completed to explore the deposit at depth.
  • Significant underexplored land package with an opportunity to make new discoveries.
  • The geology at Pitarrilla and at Endeavour’s underground mines – Guanacevi and Bolanitos – is broadly similar.
  • Upside potential from upper oxide resource as well as open-pit and underground optionality.

Approvals and Timing

The Transaction has been approved by the board of directors of Endeavour.

Closing of the Transaction remains subject to TSX and NYSE regulatory approvals and receipt of Mexican Federal Economic Competition Commission approval, as well as customary closing conditions for a transaction of this kind, which is expected to occur in the first half of 2022.

On closing, Endeavour plans to prepare a current mineral resource estimate for Pitarrilla, develop exploration targets and analyze the economics of various scales of production.

Advisors and Counsel

PI Financial acted as Endeavour’s financial advisor. Koffman Kalef LLP acted as the Company’s legal counsel.

Conference Call and Webcast

Management will host a live conference call and audio webcast later today to discuss the highlights of the Transaction as follows:

Endeavour Qualified Person and QA/QC

The scientific and technical data contained in this news release relating to the Pitarrilla project has been reviewed and approved by Dale Mah, P.Geo., a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Mah is Vice President Corporate Development of Endeavour.

About Endeavour Silver

Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.  The Company’s philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: pmoran@edrsilver.com
Website: www.edrsilver.com

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Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the timing and completion of the Transaction, estimates of mineral resources including the Historical Estimate, future plans and objectives of the Company, proposed operations of the Company at Pitarrilla including mine development and future events and conditions that are not historical facts. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements are based on assumptions management believes to be reasonable including, but not limited to, the ability to obtain regulatory approvals required for completion of the Transaction, the reliability of mineral resource estimate, the continuation of exploration and mining operations, no material adverse change in the market price of commodities, mining operations and production will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the inability or failure of the Company or SSR Mining to satisfy the conditions for closing the Transaction including regulatory approvals; the availability of funds; the financial position of the Company, timing and content of work programs; results of exploration activities and development of mineral properties; the calculation of mineral resources including the Historical Estimate; the receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses; currency fluctuations; the ultimate impact of the COVID 19 pandemic on operations and results; national and local governments’ legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development and risks in obtaining necessary licenses and permits.

Although the forward-looking statements contained herein reflect management’s current beliefs and reasonable assumptions based upon information available to management as of the date hereof, Endeavour cannot be certain that actual results will be consistent with such forward-looking information. As a result, the Company cannot guarantee that the Transaction will be completed on the terms and within the time disclosed herein or at all.

_______________________________________________
1 One of the world’s largest undeveloped silver deposits is based on publicly filed data available on SNL Metals and Mining and company disclosure as at December 31, 2021 and includes the following projects: Navidad project (Argentina), Cordero (Mexico) and Escobal (Guatemala). Other companies may calculate their respective resource base differently.

2 For more information on the Historical Estimate and related notes, please refer to the 2012 Technical Report and the SSR Mining 2020 AIF, which are available at www.ssrmining.com and on SEDAR at www.sedar.com. The economic analysis presented in the 2012 Technical Report is not considered current, is not being relied upon by Endeavour and should not be considered as representing the expected economic outcome under Endeavour’s ownership. A qualified person has not done sufficient work to classify the Historical Estimate as current mineral resources or mineral reserves. The Company is not treating this information as current mineral resources or reserves, has not verified this information and is not relying on it. Following closing of the Transaction, Endeavour plans to prepare a current mineral resource estimate for Pitarrilla, develop exploration targets and analyze the economics of various scales of production.

3 For more information on the Historical Estimate and related notes, please refer to the 2012 Technical Report and SSR Mining’s 2020 AIF, which are available at www.ssrmining.com and on SEDAR at www.sedar.com. The economic analysis presented in the 2012 Technical Report is not considered current and is not being relied upon by Endeavour and should not be considered as representing the expected economic outcome under Endeavour’s ownership. A qualified person has not done sufficient work to classify the Historical Estimate as current mineral resources or mineral reserves. The Company is not treating this information as current mineral resources or reserves, has not verified this information and is not relying on it. Following closing of the Transaction, Endeavour plans to prepare a current mineral resource estimate for Pitarrilla, develop exploration targets and analyze the economics of various scales of production.

4 For more information regarding Endeavour’s mineral reserve and mineral resource estimates and related notes, please refer to the Company’s annual information form for the year ended December 31, 2020 dated February 25, 2021 available on the Company’s website at www.edrsilver.com and SEDAR at www.sedar.com.

Wednesday, January 12, 2022

Chakana Copper Corp (CHKKF)(PERU:CA)
Initial Resource Estimate Provides Solid Foundation on Which to Grow; Increasing Price Target

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

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

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

Initial resource estimate. Chakana Copper released an initial inferred resource estimate for its Soledad project in Peru. The resource estimate encompasses seven breccia pipes that start at surface and extend to an average depth of approximately 300 meters. Inferred mineral resources included 1.9 million tonnes grading 1.29 grams of gold per tonne, 37.1 grams of silver per tonne, and 0.65% copper that could be extracted via open pit, and an additional 4.8 million tonnes grading 0.72 grams of gold per tonne, 61 grams of silver per tonne, and 0.97% copper that could be mined underground.


Starter pit opportunities.  The resources at Soledad are polymetallic and strong silver and gold grades are common near surface with copper grades increasing at depth. We think the current drilling program down to 300 meters has affirmed an economic opportunity for open pits for near surface resources that could also fund resource development at depth …

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 Reports Fatality Following Injuries Sustained at Its Bolivar Mine in Mexico

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”) regrets to report a fatality as a result of an accident that occurred at the Company’s Bolivar Mine, located in Chihuahua State, Mexico. The injured party was evacuated to medical facilities in Cuauhtemoc where the injured party was later pronounced deceased following medical complications. The incident occurred on January 10, 2022 at the underground mining operation of the Bolivar Mine. There were no other injuries related to the accident.

Luis Marchese, CEO, said, “Sierra Metals deeply regrets this accident and extends its sincerest sympathy to the family, friends and co-workers of our colleague.” He added, “The health and safety of our workforce remains our highest priority and we are focused on ensuring that those who have been affected by the incident are receiving full support.”

The appropriate government and local authorities have been notified. A thorough investigation into the accident has been initiated, in order to determine the cause and appropriate corrective actions.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic 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

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

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

Source: Sierra Metals Inc.

Sierra Metals Reports Fatality Following Injuries Sustained at Its Bolivar Mine in Mexico

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”) regrets to report a fatality as a result of an accident that occurred at the Company’s Bolivar Mine, located in Chihuahua State, Mexico. The injured party was evacuated to medical facilities in Cuauhtemoc where the injured party was later pronounced deceased following medical complications. The incident occurred on January 10, 2022 at the underground mining operation of the Bolivar Mine. There were no other injuries related to the accident.

Luis Marchese, CEO, said, “Sierra Metals deeply regrets this accident and extends its sincerest sympathy to the family, friends and co-workers of our colleague.” He added, “The health and safety of our workforce remains our highest priority and we are focused on ensuring that those who have been affected by the incident are receiving full support.”

The appropriate government and local authorities have been notified. A thorough investigation into the accident has been initiated, in order to determine the cause and appropriate corrective actions.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic 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

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

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

Source: Sierra Metals Inc.

Wednesday, January 12, 2022

Chakana Copper Corp (CHKKF)(PERU:CA)
Initial Resource Estimate Provides Solid Foundation on Which to Grow; Increasing Price Target

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

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

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

Initial resource estimate. Chakana Copper released an initial inferred resource estimate for its Soledad project in Peru. The resource estimate encompasses seven breccia pipes that start at surface and extend to an average depth of approximately 300 meters. Inferred mineral resources included 1.9 million tonnes grading 1.29 grams of gold per tonne, 37.1 grams of silver per tonne, and 0.65% copper that could be extracted via open pit, and an additional 4.8 million tonnes grading 0.72 grams of gold per tonne, 61 grams of silver per tonne, and 0.97% copper that could be mined underground.


Starter pit opportunities.  The resources at Soledad are polymetallic and strong silver and gold grades are common near surface with copper grades increasing at depth. We think the current drilling program down to 300 meters has affirmed an economic opportunity for open pits for near surface resources that could also fund resource development at depth …

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

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

Comstock’s LiNiCo Corporation Receives Tax Abatement, Expands Permit From the Nevada Governor’s Office of Economic Development

Research, News, and Market Data on Comstock Mining

 

VIRGINIA CITY, NEVADA, January 11, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that its 90% owned subsidiary, LINICO Corporation (“LiNiCo”), an emerging leader in the production of electrification products, including lithium carbonate and graphite, from recycled lithium-ion batteries (“LIB”) with its proprietary extraction technologies, received tax abatements from the Nevada Governor’s Office of Economic Development.

The $618,836 in tax abatements apply to LiNiCo’s first state-of-the-art production facility that is currently being retrofitted and scheduled to commence initial production with a feedstock crushing capacity of over 35,000 tons per year during the second half 2022, with the ultimate facility capacity designed and permitted for over 100,000 tons per year. LiNiCo recently amended its permit application to include its breakthrough lithium extraction and lithium carbonate production processes in Nevada.

In connection with the abatement program, LiNiCo will create at least 30 diverse, well-paying jobs and make $6 million in capital investment within the first two years of operation, resulting in over $4 million in net new Nevada tax revenues.

“We are pleased that the Nevada Governor’s Office of Economic Development recognizes and values LiNiCo as a new clean technology business by approving our request for tax abatement,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We believe that LiNiCo’s pioneering extraction technologies will quickly prove to be the best, most sustainable, and most valuable processes for the production of lithium and other renewable electrification products.”

Comstock owns 90% of LiNiCo and 10% of LiNiCo is owned by Aqua Metals Inc. (NASDAQ: AQMS), a cleantech innovator focused on environmentally closed-loop battery recycling.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

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

 

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

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

Palladium One Intersects Widest Intercept to Date Southwest of the Kaukua Open Pit Resource Estimate, Finland, 1.6 g/t Pd_Eq over 121 Meters

Research, News, and Market Data on Palladium One Mining

 

• Widest ore grade intercept to date, intersected 250 meters southwest and down plunge of the current Kaukua Open Pit Mineral Resource Estimate (“MRE”).
• 2.1 g/t Palladium Equivalent (Pd_Eq) over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, in hole LK21-105, with individual samples grading up to 16.0 g/t Pd_Eq over 0.6 meters.
• Three holes (LK21-101, 102 and 105), spread over 220-meters laterally, have all intersected the down plunge, high-grade ‘Core Zone’ of the current pit constrained Kaukua Open Pit.
• High-grade ‘Core Zone’ of the Kaukua Open Pit remains open to depth.

January 11, 2021 – Toronto, Ontario, Initial down plunge drilling, has intersected the widest ore-grade intercept to date, southwest of the 2019 open-pit constrained MRE of the Kaukua Deposit. Hole LK21-105 intersected 2.1 g/t Pd_Eq over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, starting at a true depth of approximately 260 meters (Figure 2), said Palladium One Mining Inc. (“Palladium One” or the “Company”).

Derrick Weyrauch, President and CEO commented: “We have extended the ‘Core Zone’ of the Kaukua Deposit 250 beyond the current conceptual open-pit and hole LK21-105 is among the thickest intercepts to date within the Kaukua Deposit and adds significant tonnage to our existing resource endowment. The high-grade ‘Core Zone’ of the Kaukua Deposit remains open to the southwest for more expansion. An updated NI43-101 Mineral Resource Estimate is schedule for release in Q1 2022 and will incorporate these valuable results”

These drilling results extend a broad, >200-meter wide ‘core zone’ of mineralization 250-meters southwest of the existing conceptual open-pit, and it remains open for expansion (Figure 1 and 2, and 3). Importantly, the previous geological interpretations suggested that the Kaukua Deposit was cut-off by a northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-titanium gabbro dyke) and that the Kaukua Deposit remains open to the south. Significantly the high-grade ‘Core Zone’ of the Kaukua Deposit has been extended 250 meters to the southwest and we have encountered some of the thickest intercepts (>100m) to date within the deposit (see news release November 23, 2021).

Figure 1. Historic and current drilling in the Kaukua area having a drill data cut-off date of September 30, 2021 (hole LK21-137), assays have been received for holes up to LK21-108, the remainder are pending. Background is Induced Polarization (“IP”) Chargeability.

Figure 2. Cross sections showing holes LK21-099, 103, 104, 105 and 106 and historic holes KAU09-049 and KAU12-060, and their position with respect to the 2019 Kaukua Mineral Resource Estimate Whittle Open Pit.

Figure 3. Cross section showing holes LK21-100, 108, historic holes KAU09–040, 042, 043, KAU12-053 and their position with respect to the 2019 Kaukua Whittle Open-Pit constrained Mineral Resource Estimate.

Table 1. LK Project, select Kaukua Drill Hole Results

* Pd_Eq calculated using in-situ values and prices from the 2021 NI43-101 Haukiaho Mineral Resource Estimate; $1,600/oz Pd, $1,100/oz Pt, $1,650/oz Au, $3.50 Cu, and $7.50/lb Ni, and $20/lb Co. Limited historical metallurgical work on the Kaukua Deposit indicates final recoveries in the range of 73% Pd, 56% Pt, 78% Au, 91% Cu, 48% Ni and 48% Co and are used in the Estimated Recovered Pd_Eq grade calculation.
**Italicised orange highlighted results are previously released results see news release November 23, 2021.

Palladium Equivalent
The Company is calculating Palladium equivalent using US$1,600 per ounce for palladium, US$1,100 per ounce for platinum, US$1,650 per ounce for gold, US$3.50 per pound for copper, US$7.50 per pound for nickel, and $20 per pound cobalt consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101

About Palladium One
Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in leading mining jurisdictions. Its flagship project is the Läntinen Koillismaa (LK) Project in north-central Finland, which is ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. LK is a PGE-copper-nickel project that has existing Mineral Resources. PDM’s second project is the 2020 Discovery of the Year Award winning Tyko Project, a high-grade sulphide, copper-nickel project located in Canada. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Chakana Reports Initial Inferred Resource on Seven Breccia Pipes at the Soledad Project, Peru

Research, News, and Market Data on Chakana Copper

 

Soledad Project Highlights Include:

• 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

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

• 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 not included in the initial Inferred Resource estimate are mineralized and require additional exploration drilling

Vancouver, B.C., January 11, 2022 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide an initial Inferred Resource estimate for the Soledad Project, located in Ancash, Peru. 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 that is vertically extensive. The pipes exhibit strong zonation between gold, copper, and silver (Fig. 1). 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.

“We are very pleased to report the initial Inferred Resource estimate for the first seven breccia pipes, confirming that the Soledad pipes are attractive targets with good grades potentially amenable to both starter pits and underground mining methods. This initial Inferred Resource is particularly valuable for assessing the broader discovery potential of the project. So far, we have only drill tested 16 out of the 110 targets originally defined back in 2019, leading to seven of those targets being included in the initial resource estimate and several other mineralized targets identified. In addition to this, the recently completed Gradient Array and ongoing Offset IP surveys have identified numerous new targets that are being incorporated into our target inventory and ranked with the original targets. We have a large number of targets ready to test on the fully permitted north-half of the project where the initial resource estimate is located, and numerous additional targets on the south half of the project, including the Compañero breccia pipe complex. Drill permitting on the south-half of the project area is advancing with the efforts of our permitting team,” stated President and CEO David Kelley.

Since the commencement of its exploration at Soledad in 2017, Chakana has completed 260 core holes totaling 60,850m. The majority of the resource drilling was focused on Breccia Pipe 1 (Bx 1), Bx 5, Paloma East, and the eastern side of the Huancarama breccia complex, with much less drilling on Bx 6, Bx 7 and Paloma West. All zones are open to extension at depth, while many more targets remain untested in the broader Soledad project. Soledad is held under three separate 100% earn-in agreements with Condor Resources Inc, a private Peruvian company, and Barrick-Peru. The resources reported herein occur within a portion of the Condor and private Peruvian concessions.

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

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. A technical report to support the Mineral Resource Estimate for the Soledad, prepared in accordance with NI 43-101, will be filed on SEDAR (www.sedar.com) within 45 days of the issuance of this news release.

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 Chemex 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.

	Image Credit: Dennis Jarvis (Flickr)

Is Gold Still Preferred Over Large Digital Currencies as a Safe-Haven Asset?

 

Gold, it was said, has been replaced by cryptocurrencies like Ether (ETH) and Bitcoin (BTC) as the preferred safe-haven asset in times of uncertainty. This may very well come to be one day, but based on the upward movement of gold over the past three days of economic concern and stock market turmoil, and the downward movement of digital currencies, there are still many who will gravitate toward the hard asset.

As it has become clearer that the Fed will soon begin reacting more aggressively to reduce the easy money scenario that is playing into inflation’s strength, equity and interest rate markets have reacted as you’d expect them to; they sold off. There hasn’t been much of an opportunity, frankly, since Bitcoin’s founding to test its performance in the face of a fast ramp-up of interest rates. Although many factors impact price changes on any asset, it appears that gold futures prices are benefitting from the fears brought on after the December FOMC minutes became public on January 5th.

 

 

Dollar Weakness 

The dollar has pulled back recently, this bodes well for gold and low yields on treasuries are not at a level where conservative investors yet see them as appealing. However, the Fed is expected to raise rates this year; estimates by Goldman Sachs and JP Morgan indicate four total Fed Fund increases. Higher U.S. rates have the potential to keep the dollar strong, which may limit gold’s upside. 

As part of his mining industry report released on January 3rd, Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc. wrote “While a rise in the U.S. dollar and treasury yields are headwinds for gold, we believe investors may view precious metals more favorably in 2022 to protect portfolio values from potential volatility in equity markets, an uncertain path for inflation, and the risk of Federal Reserve monetary policy errors.”

The markets will have more data to evaluate as the U.S. consumer price index and the Fed Beige Book will be released on Wednesday (January 12), and the U.S. producer price index will be released on Thursday.

 

Take-Away

The year 2022 has already promised dramatic shifts that may include a complete turnaround in the fixed income markets. Since U.S. treasury interest rates are used as a benchmark or “risk-free” return rate against which other investments are judged, financial markets from gold to traditional currencies, digital currencies, real estate, and equities will all be impacted by higher available yields and an increased cost of borrowing. 

If inflation continues to outpace interest rates, strength in gold and related assets such as gold mining stocks could continue to do well.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Content:

Metals & Mining Fourth Quarter 2021 Review and Outlook

Bond Market Understanding is Again Critical for Stock Investors

C-Suite Interview, Newrange Gold CEO, Bob Archer (Video)

C-Suite Interview Voyager Digital CEO, Stephen Ehrlich (Video)

 

Sources:

https://www.fxempire.com/forecasts/article/gold-prices-rebound-but-are-capped-by-rising-yields-861339

www.koyfin.com

https://www.investopedia.com/terms/a/accomodativemonetarypolicy.asp

https://www.channelchek.com/news-channel/Industry_Report___Metals_Mining_Fourth_Quarter_2021_Review_and_Outlook

 

Stay up to date. Follow us:

Chakana Reports Initial Inferred Resource on Seven Breccia Pipes at the Soledad Project, Peru

Research, News, and Market Data on Chakana Copper

 

Soledad Project Highlights Include:

• 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

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

• 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 not included in the initial Inferred Resource estimate are mineralized and require additional exploration drilling

Vancouver, B.C., January 11, 2022 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide an initial Inferred Resource estimate for the Soledad Project, located in Ancash, Peru. 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 that is vertically extensive. The pipes exhibit strong zonation between gold, copper, and silver (Fig. 1). 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.

“We are very pleased to report the initial Inferred Resource estimate for the first seven breccia pipes, confirming that the Soledad pipes are attractive targets with good grades potentially amenable to both starter pits and underground mining methods. This initial Inferred Resource is particularly valuable for assessing the broader discovery potential of the project. So far, we have only drill tested 16 out of the 110 targets originally defined back in 2019, leading to seven of those targets being included in the initial resource estimate and several other mineralized targets identified. In addition to this, the recently completed Gradient Array and ongoing Offset IP surveys have identified numerous new targets that are being incorporated into our target inventory and ranked with the original targets. We have a large number of targets ready to test on the fully permitted north-half of the project where the initial resource estimate is located, and numerous additional targets on the south half of the project, including the Compañero breccia pipe complex. Drill permitting on the south-half of the project area is advancing with the efforts of our permitting team,” stated President and CEO David Kelley.

Since the commencement of its exploration at Soledad in 2017, Chakana has completed 260 core holes totaling 60,850m. The majority of the resource drilling was focused on Breccia Pipe 1 (Bx 1), Bx 5, Paloma East, and the eastern side of the Huancarama breccia complex, with much less drilling on Bx 6, Bx 7 and Paloma West. All zones are open to extension at depth, while many more targets remain untested in the broader Soledad project. Soledad is held under three separate 100% earn-in agreements with Condor Resources Inc, a private Peruvian company, and Barrick-Peru. The resources reported herein occur within a portion of the Condor and private Peruvian concessions.

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

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. A technical report to support the Mineral Resource Estimate for the Soledad, prepared in accordance with NI 43-101, will be filed on SEDAR (www.sedar.com) within 45 days of the issuance of this news release.

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 Chemex 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.

Palladium One Intersects Widest Intercept to Date Southwest of the Kaukua Open Pit Resource Estimate, Finland, 1.6 g/t Pd_Eq over 121 Meters

Research, News, and Market Data on Palladium One Mining

 

• Widest ore grade intercept to date, intersected 250 meters southwest and down plunge of the current Kaukua Open Pit Mineral Resource Estimate (“MRE”).
• 2.1 g/t Palladium Equivalent (Pd_Eq) over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, in hole LK21-105, with individual samples grading up to 16.0 g/t Pd_Eq over 0.6 meters.
• Three holes (LK21-101, 102 and 105), spread over 220-meters laterally, have all intersected the down plunge, high-grade ‘Core Zone’ of the current pit constrained Kaukua Open Pit.
• High-grade ‘Core Zone’ of the Kaukua Open Pit remains open to depth.

January 11, 2021 – Toronto, Ontario, Initial down plunge drilling, has intersected the widest ore-grade intercept to date, southwest of the 2019 open-pit constrained MRE of the Kaukua Deposit. Hole LK21-105 intersected 2.1 g/t Pd_Eq over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, starting at a true depth of approximately 260 meters (Figure 2), said Palladium One Mining Inc. (“Palladium One” or the “Company”).

Derrick Weyrauch, President and CEO commented: “We have extended the ‘Core Zone’ of the Kaukua Deposit 250 beyond the current conceptual open-pit and hole LK21-105 is among the thickest intercepts to date within the Kaukua Deposit and adds significant tonnage to our existing resource endowment. The high-grade ‘Core Zone’ of the Kaukua Deposit remains open to the southwest for more expansion. An updated NI43-101 Mineral Resource Estimate is schedule for release in Q1 2022 and will incorporate these valuable results”

These drilling results extend a broad, >200-meter wide ‘core zone’ of mineralization 250-meters southwest of the existing conceptual open-pit, and it remains open for expansion (Figure 1 and 2, and 3). Importantly, the previous geological interpretations suggested that the Kaukua Deposit was cut-off by a northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-titanium gabbro dyke) and that the Kaukua Deposit remains open to the south. Significantly the high-grade ‘Core Zone’ of the Kaukua Deposit has been extended 250 meters to the southwest and we have encountered some of the thickest intercepts (>100m) to date within the deposit (see news release November 23, 2021).

Figure 1. Historic and current drilling in the Kaukua area having a drill data cut-off date of September 30, 2021 (hole LK21-137), assays have been received for holes up to LK21-108, the remainder are pending. Background is Induced Polarization (“IP”) Chargeability.

Figure 2. Cross sections showing holes LK21-099, 103, 104, 105 and 106 and historic holes KAU09-049 and KAU12-060, and their position with respect to the 2019 Kaukua Mineral Resource Estimate Whittle Open Pit.

Figure 3. Cross section showing holes LK21-100, 108, historic holes KAU09–040, 042, 043, KAU12-053 and their position with respect to the 2019 Kaukua Whittle Open-Pit constrained Mineral Resource Estimate.

Table 1. LK Project, select Kaukua Drill Hole Results

* Pd_Eq calculated using in-situ values and prices from the 2021 NI43-101 Haukiaho Mineral Resource Estimate; $1,600/oz Pd, $1,100/oz Pt, $1,650/oz Au, $3.50 Cu, and $7.50/lb Ni, and $20/lb Co. Limited historical metallurgical work on the Kaukua Deposit indicates final recoveries in the range of 73% Pd, 56% Pt, 78% Au, 91% Cu, 48% Ni and 48% Co and are used in the Estimated Recovered Pd_Eq grade calculation.
**Italicised orange highlighted results are previously released results see news release November 23, 2021.

Palladium Equivalent
The Company is calculating Palladium equivalent using US$1,600 per ounce for palladium, US$1,100 per ounce for platinum, US$1,650 per ounce for gold, US$3.50 per pound for copper, US$7.50 per pound for nickel, and $20 per pound cobalt consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101

About Palladium One
Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in leading mining jurisdictions. Its flagship project is the Läntinen Koillismaa (LK) Project in north-central Finland, which is ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. LK is a PGE-copper-nickel project that has existing Mineral Resources. PDM’s second project is the 2020 Discovery of the Year Award winning Tyko Project, a high-grade sulphide, copper-nickel project located in Canada. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Comstock’s LiNiCo Corporation Receives Tax Abatement, Expands Permit From the Nevada Governor’s Office of Economic Development

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VIRGINIA CITY, NEVADA, January 11, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that its 90% owned subsidiary, LINICO Corporation (“LiNiCo”), an emerging leader in the production of electrification products, including lithium carbonate and graphite, from recycled lithium-ion batteries (“LIB”) with its proprietary extraction technologies, received tax abatements from the Nevada Governor’s Office of Economic Development.

The $618,836 in tax abatements apply to LiNiCo’s first state-of-the-art production facility that is currently being retrofitted and scheduled to commence initial production with a feedstock crushing capacity of over 35,000 tons per year during the second half 2022, with the ultimate facility capacity designed and permitted for over 100,000 tons per year. LiNiCo recently amended its permit application to include its breakthrough lithium extraction and lithium carbonate production processes in Nevada.

In connection with the abatement program, LiNiCo will create at least 30 diverse, well-paying jobs and make $6 million in capital investment within the first two years of operation, resulting in over $4 million in net new Nevada tax revenues.

“We are pleased that the Nevada Governor’s Office of Economic Development recognizes and values LiNiCo as a new clean technology business by approving our request for tax abatement,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We believe that LiNiCo’s pioneering extraction technologies will quickly prove to be the best, most sustainable, and most valuable processes for the production of lithium and other renewable electrification products.”

Comstock owns 90% of LiNiCo and 10% of LiNiCo is owned by Aqua Metals Inc. (NASDAQ: AQMS), a cleantech innovator focused on environmentally closed-loop battery recycling.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

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

 

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

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

Bunker Hill Announces Closing of Mine Purchase and $8 Million Royalty Convertible Debenture

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TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the closing of the previously announced purchase of the Bunker Hill Mine and $8 million Royalty Convertible Debenture with Sprott Private Resource Streaming & Royalty Corp (“SRSR” or “Sprott”).

Sam Ash, CEO stated “Ownership of the Bunker Hill Mine is an immense source of pride for our stakeholders and a major milestone on our journey towards its rapid restart. I would like to thank our funding partners at Sprott for working diligently with us over the last couple of weeks to close this first $8 million tranche of the $50 million financing package. We look forward to closing the $5 million Convertible Debenture over the coming days and to an exciting 2022 full of value-creating catalysts for our investors.”

Following the approval of the transaction by Placer Mining Corp. shareholders and satisfaction of other closing conditions, the purchase of the mine closed on Friday, January 7th. Concurrently, definitive documentation and all closing conditions were met for the $8 million Royalty Convertible Debenture. As announced in the company’s news release on December 20, 2021, the Royalty Convertible Debenture funds the purchase of the Bunker Hill Mine, a $2 million payment to the EPA, and near-term working capital requirements until closing of the $5 million Convertible Debenture.

The Royalty Convertible Debenture is currently secured by a share pledge of the Company’s operating subsidiary, while a full security package is put in place that will also enable funding of the $5 million Convertible Debenture, as announced on December 20, 2021. Definitive documentation for the Convertible Debenture is being advanced, concurrent with the full security package.

ABOUT BUNKER HILL MINING CORP.

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

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

ir@bunkerhillmining.com

Cautionary Statements

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

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

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

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