Defense Metals Prepares for Initial Diamond Drill Assay Results

News, and Market Data on Defense Metals

 

News Release – Vancouver, British Columbia – February 2, 2022:Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce that 1,576 core samples representing 23 drill holes totalling approximately 3,900 metres of diamond drill core have been shipped and received by ALS Canada Ltd. (ALS) from its Wicheeda rare earth element (REE) Project.

Samples shipped to date represent more than 70% of the 2021 drilled meterage from the Company’s highly successful 29 hole, 5,349 metre diamond drill program designed to expand the Wicheeda REE deposit and further upgrade existing resource categories (see Defense Metals news release dated November 8, 2021). Core samples from the remining six diamond drill holes are expected to be shipped to ALS within one week’s time.

Of the 1,576 samples submitted to ALS, an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory, a total of 1,206 samples have been crushed and pulverized in preparation for multi-element ICP-MS fusion analysis. The Company expects to receive initial assay results from the first four diamond drill holes of the 2021 campaign, subject to QA/QC review, by mid-February with additional results news flow by end of February and thereafter.

Luisa Moreno, President and Director of Defense Metals commented: “We look forward to receiving the initial assays results from our ambitious 5,349 metre 2021 Wicheeda REE deposit diamond drill campaign. The 2021 drilling is expected to contribute to the expansion and upgrading of mineral resources we so recently demonstrated in our positive Wicheeda REE Project PEA.”

About the Wicheeda REE Property

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

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

Qualified Person

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

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: [email protected]

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

Cautionary Statement Regarding “Forward-Looking” Information

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

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

Monday, January 31, 2022

Aurania Resources (AUIAF)(ARU:CA)
Pondering the Possibilities

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

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

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

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

Management is on location in Ecuador. Following the resignation of Dr. Richard Spencer, Dr. Keith Barron, assumed the role of President and is now Chairman, President, and Chief Executive Officer. He is presently in Ecuador and is leading the company’s activities. While the resignation of Dr. Spencer is a setback, Dr. Barron is the guiding force behind the company and owner of 39% of the outstanding shares.


Exploration continues near the Awacha target.  During the next month, Aurania will be conducting exploration north of the Awacha porphyry copper target. Recall that exploration teams returned to the area in early January to refine porphyry targets. At Awacha, soil sampling and field surveys are in progress. Mobile Magnetotellurics (MobileMT) geophysics revealed a buried conductive body greater than …

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

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

Monday, January 31, 2022

Coeur Mining (CDE)
Pullback Presents More Attractive Entry Point

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

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

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

Rating raised. We are establishing a price target which represents 17.5% price appreciation potential based on the recent closing price. While capital expenditures are expected to remain elevated in 2022 due to the Rochester expansion, we expect it to be completed in mid-2023 and think the current valuation will improve as it nears production.


Adjusting estimates.  We have lowered our 2021 and 2022 EPS estimates to $0.08 and $0.28 from $0.10 and $0.32, respectively and EBITDA estimates to $218.4 million and $249.7 million from $223.0 million and $267.4 million. Our 2021 estimates reflect modestly lower fourth quarter revenue, while 2022 estimates reflect higher operating expenses. Coeur will report fourth quarter and full-year 2021 …

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

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

Bunker Hill Announces Closing and Upsizing of Convertible Debenture Financing to $6 Million

Research, News, and Market Data on Bunker Hill Mining

 

TORONTO, Jan. 31, 2022 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the closing of the previously announced Convertible Debenture with Sprott Private Resource Streaming & Royalty Corp (“SRSR” or “Sprott”) for total gross proceeds of $6 million, an increase of $1 million from the previously envisaged $5 million. All figures are in US dollars unless otherwise stated.

Sam Ash, CEO, stated “We are pleased to announce the closing and upsizing of the second tranche of our project finance package with Sprott to $6 million. This funds near-term working capital requirements, mine development, and the advancement of our Prefeasibility Study, including engineering studies for the demobilization and construction of the Pend Oreille process plant at Bunker Hill. We look forward to updating investors on the continued execution of our restart plans over the coming weeks.”

Following the satisfaction of all closing conditions, including completion of definitive documentation and a full security package, the transaction closed on January 28, 2022. The parties agreed to increase the funding by $1 million, reflecting increased demand from Sprott and other investors. The terms of the Convertible Debenture are unchanged from the Company’s news release of December 20, 2021, including an annual interest rate of 7.5% payable in cash or shares at the Company’s option, and a maturity of July 7, 2023. Until the closing of the Stream of up to $37 million, the final tranche in the project finance package, the Convertible Debenture is convertible into shares of the Company at a share price of CAD 0.30 per share. At the time that the Stream is advanced, the investors may elect to retire the Convertible Debenture in shares or with the cash proceeds of the Stream.

ABOUT BUNKER HILL MINING CORP.

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

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

[email protected]

Cautionary Statements

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

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

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

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

JV Article: Defense Metals’ Wicheeda rare earths project poised to become the Next REE producer in North America

News, and Market Data on Defense Metals

 

Summer drilling program at the Wicheeda property in British Columbia. Credit: Defense Metals

 MINING.COM AND DEFENSE METALS JANUARY 31, 2022

When Defense Metals (TSXV: DEFN) acquired 100% ownership of its flagship Wicheeda rare earth elements deposit in British Columbia this month, it was the latest in a series of milestones the company marked over the past year.

Drilling has intersected visible rare earth element (REE) mineralization in dolomite-carbonatite rocks in all holes, and the preliminary economic assessment (PEA), filed in January, indicates the project has an after-tax net present value with an 8% discount of $404 million, and an internal rate of return of 18%.

Last year, Defense Metals entered into an agreement with Sinosteel Corporation for testwork and concentrator design research cooperation, and an investigation into the establishment of an on-site large-scale demo  plant at Wicheeda to assess the economic and technical feasibility of full-scale mine development.

The company reports having a Mineral Resource Estimate comprising 5.0 million tonnes of indicated resource, averaging 2.95% TREO and 29.5 million tonnes of inferred resources, averaging 1.83% TREO, at a cut-off grade of 0.5% TREO. The current resource represents a 36% increase on a contained metal basis in comparison to the prior 2020 resource estimates, due to the estimation of additional economically significant medium and heavy REE’s and a lower cut-off grade established based on PEA economic assumptions.

The Wicheeda property is located close to infrastructure about 80 kilometres (49 miles) northeast of Prince George. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life that includes three years of construction, and early revenue generation via phased open pit development. Phase 1 initial pit strip ratio of 0.63:1 (waste: mill feed) yields rapid access to higher grade surface mineralization.

Defense Metals aims to produce an average of 25,000 tonnes of rare earth oxides (REO) per year, approximately 10% of the world’s current production.

Defense Metals President, Dr. Luisa Moreno, is also a Physics Engineer, industry-known expert analyst and strategic metals consultant to federal and provincial governments,  tasked with mineral development and supply chain development.

Moreno has assisted both public and private companies and institutional investors with economic and technical assessments of mineral assets and technologies.

Moreno said the project ticks all the boxes for economic success and delivery to markets — mineralogy, processing and infrastructure — as rare earths are known to be difficult to extract and expensive to process.

“One of the advantages for Defense Metals is the fact that they are able to produce a high-grade flotation concentrate because of favorable mineralogy — deposits that are coarse grained like Wicheeda, and with rare earths minerals that have high total rare earths content, like bastnasite and monazite,  have a better chance to produce a high-grade floatation concentrate,” Moreno says.

“If a company cannot produce the high REE grade flotation concentrate from their hard rock deposit, the project economics are often harder.” 

The flotation concentrate to be sold in the initial production period will average 43% total rare earth oxides (TREO). The company is planning to build a hydrometallurgical plant to treat the concentrate in the fifth year of mine production.

Defense Metals put in an application to be a preferred vendor under Defense Production Act (DPA). The DPA published a Technology Market Research report last year outlining Defense Metal’s Corporation’s role in the rare earth supply chain.

Viable North American rare earths projects are much needed to establish domestic supply chains for the REEs crucial to electric vehicles, wind generators, medical devices, smart phones, and aerospace and defense applications. The $14 billion a year rare earth magnet market is currently more than 60% controlled by China.

With the PEA forecasting a tenfold increase in EV adoption by 2030, the result, Defense Metals CEO Craig Taylor said, will be a correlating supply deficit of the elements used in magnets, neodymium and praseodymium especially.

“The positive PEA has strengthened Defense Metals’ Wicheeda deposit as a crucial source for the global REE supply chain,” Taylor said.   

JV Article: Defense Metals’ Wicheeda rare earths project poised to become the Next REE producer in North America

News, and Market Data on Defense Metals

 

Summer drilling program at the Wicheeda property in British Columbia. Credit: Defense Metals

 MINING.COM AND DEFENSE METALS JANUARY 31, 2022

When Defense Metals (TSXV: DEFN) acquired 100% ownership of its flagship Wicheeda rare earth elements deposit in British Columbia this month, it was the latest in a series of milestones the company marked over the past year.

Drilling has intersected visible rare earth element (REE) mineralization in dolomite-carbonatite rocks in all holes, and the preliminary economic assessment (PEA), filed in January, indicates the project has an after-tax net present value with an 8% discount of $404 million, and an internal rate of return of 18%.

Last year, Defense Metals entered into an agreement with Sinosteel Corporation for testwork and concentrator design research cooperation, and an investigation into the establishment of an on-site large-scale demo  plant at Wicheeda to assess the economic and technical feasibility of full-scale mine development.

The company reports having a Mineral Resource Estimate comprising 5.0 million tonnes of indicated resource, averaging 2.95% TREO and 29.5 million tonnes of inferred resources, averaging 1.83% TREO, at a cut-off grade of 0.5% TREO. The current resource represents a 36% increase on a contained metal basis in comparison to the prior 2020 resource estimates, due to the estimation of additional economically significant medium and heavy REE’s and a lower cut-off grade established based on PEA economic assumptions.

The Wicheeda property is located close to infrastructure about 80 kilometres (49 miles) northeast of Prince George. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life that includes three years of construction, and early revenue generation via phased open pit development. Phase 1 initial pit strip ratio of 0.63:1 (waste: mill feed) yields rapid access to higher grade surface mineralization.

Defense Metals aims to produce an average of 25,000 tonnes of rare earth oxides (REO) per year, approximately 10% of the world’s current production.

Defense Metals President, Dr. Luisa Moreno, is also a Physics Engineer, industry-known expert analyst and strategic metals consultant to federal and provincial governments,  tasked with mineral development and supply chain development.

Moreno has assisted both public and private companies and institutional investors with economic and technical assessments of mineral assets and technologies.

Moreno said the project ticks all the boxes for economic success and delivery to markets — mineralogy, processing and infrastructure — as rare earths are known to be difficult to extract and expensive to process.

“One of the advantages for Defense Metals is the fact that they are able to produce a high-grade flotation concentrate because of favorable mineralogy — deposits that are coarse grained like Wicheeda, and with rare earths minerals that have high total rare earths content, like bastnasite and monazite,  have a better chance to produce a high-grade floatation concentrate,” Moreno says.

“If a company cannot produce the high REE grade flotation concentrate from their hard rock deposit, the project economics are often harder.” 

The flotation concentrate to be sold in the initial production period will average 43% total rare earth oxides (TREO). The company is planning to build a hydrometallurgical plant to treat the concentrate in the fifth year of mine production.

Defense Metals put in an application to be a preferred vendor under Defense Production Act (DPA). The DPA published a Technology Market Research report last year outlining Defense Metal’s Corporation’s role in the rare earth supply chain.

Viable North American rare earths projects are much needed to establish domestic supply chains for the REEs crucial to electric vehicles, wind generators, medical devices, smart phones, and aerospace and defense applications. The $14 billion a year rare earth magnet market is currently more than 60% controlled by China.

With the PEA forecasting a tenfold increase in EV adoption by 2030, the result, Defense Metals CEO Craig Taylor said, will be a correlating supply deficit of the elements used in magnets, neodymium and praseodymium especially.

“The positive PEA has strengthened Defense Metals’ Wicheeda deposit as a crucial source for the global REE supply chain,” Taylor said.   

Bunker Hill Announces Closing and Upsizing of Convertible Debenture Financing to $6 Million

Research, News, and Market Data on Bunker Hill Mining

 

TORONTO, Jan. 31, 2022 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the closing of the previously announced Convertible Debenture with Sprott Private Resource Streaming & Royalty Corp (“SRSR” or “Sprott”) for total gross proceeds of $6 million, an increase of $1 million from the previously envisaged $5 million. All figures are in US dollars unless otherwise stated.

Sam Ash, CEO, stated “We are pleased to announce the closing and upsizing of the second tranche of our project finance package with Sprott to $6 million. This funds near-term working capital requirements, mine development, and the advancement of our Prefeasibility Study, including engineering studies for the demobilization and construction of the Pend Oreille process plant at Bunker Hill. We look forward to updating investors on the continued execution of our restart plans over the coming weeks.”

Following the satisfaction of all closing conditions, including completion of definitive documentation and a full security package, the transaction closed on January 28, 2022. The parties agreed to increase the funding by $1 million, reflecting increased demand from Sprott and other investors. The terms of the Convertible Debenture are unchanged from the Company’s news release of December 20, 2021, including an annual interest rate of 7.5% payable in cash or shares at the Company’s option, and a maturity of July 7, 2023. Until the closing of the Stream of up to $37 million, the final tranche in the project finance package, the Convertible Debenture is convertible into shares of the Company at a share price of CAD 0.30 per share. At the time that the Stream is advanced, the investors may elect to retire the Convertible Debenture in shares or with the cash proceeds of the Stream.

ABOUT BUNKER HILL MINING CORP.

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

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

[email protected]

Cautionary Statements

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

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

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

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

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

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

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

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

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

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

– Heightened focus on ESG, Human Capital and Permitting

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

James León – Vice President, Operations

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

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

Alonso Lujan – Vice President, Exploration

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

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

Alberto Calle – Vice President, Human Resources

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

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

Juan Jose Mostajo – Vice President, Legal Affairs

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

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

About Sierra Metals

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

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

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

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

Investor relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: [email protected]

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

Source: Sierra Metals Inc.

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

Research, News, and Market Data on Aurania Resources

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 [email protected]

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

Forward-Looking Statements

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

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

Research, News, and Market Data on Aurania Resources

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 [email protected]

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

Forward-Looking Statements

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

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

Research, News, and Market Data on Sierra Metals

 

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

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

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

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

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

– Heightened focus on ESG, Human Capital and Permitting

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

James León – Vice President, Operations

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

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

Alonso Lujan – Vice President, Exploration

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

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

Alberto Calle – Vice President, Human Resources

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

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

Juan Jose Mostajo – Vice President, Legal Affairs

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

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

About Sierra Metals

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

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

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

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

Investor relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: [email protected]

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

Source: Sierra Metals Inc.

Thursday, January 27, 2022

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

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

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

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

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

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


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

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

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

Wednesday, January 26, 2022

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

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

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

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

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

Fourth quarter and full year 2021 production. During the fourth quarter, Sierra Metals produced 6.1 million pounds of copper, 6.0 million pounds of lead, 14.9 million pounds of zinc, 1.9 thousand ounces of gold, and 805 thousand ounces of silver. Compared with the prior year period, fourth quarter production of copper, lead, zinc, gold, and silver declined 42.9%, 21.2%, 31.0%, 44.6%, and 12.7%, respectively, and declined 26.5%, 23.3%, 22.0%, 17.6%, and 0.2% sequentially. The quarter reflected operational challenges, and while Cusi and Yauricocha are approaching normalized operations, infill drilling and mine development is needed at Bolivar to normalize operations by the end of the second quarter. Compared to 2020, full year silver production increased 1.8%, while copper, lead, zinc, and gold production declined 28.3%, 6.5%, 3.2%, and 30.5%, respectively.


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

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

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