Sierra Metals Completes Strategic Review Process, Initiates Annual Base Dividend of US$0.03 Per Share and Appoints Two New Directors to Its Board

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) announces today that its Board of Directors (the “Board”) has completed its previously announced review of strategic alternatives.

Based on an extensive review of various alternatives, the Board has determined, in consultation with its financial and legal advisors, that maximum value for shareholders will be delivered through the pursuit by the Company of various strategic value-enhancing opportunities.

Within its current assets and diversified extensive resource base, the Company will continue to focus its efforts on growing the production of the metals expected to feed into the anticipated global infrastructure supply demands. The increased focus will apply specifically to copper and steel-making products (zinc and iron ore), with the production of the precious metals as a valuable cost-credit byproduct.

Furthermore, the Company has completed an actionable review of its assets and will consider appropriate further action over the Company’s portfolio of assets. This action could take the form of divestments, joint ventures (“JVs”) or partnerships, and it could include assets such as the Cusi Silver Mine or exploration targets which lie outside the current operating areas.

Sierra Metals believes in the importance of Environmental, Social and Corporate Governance and will proceed with a heightened focus on these matters with a view to maintaining the best applicable practices in each of these areas. We strive for excellence in fulfilling our environmental and social duties and responsibilities, ultimately sharing increased wellbeing with our workforce and in the communities where we operate.

The Company will continue with a disciplined capital allocation approach and the use of funds on sustaining and growth projects, using a stringent stage-gate process with a close follow-up on implementation and delivery of projects which include:

• Delivery of current Prefeasibility Studies for mine expansion at our 3 operations, starting with Bolivar Mine, followed by Yauricocha and Cusi.

• Advancing with the inclusion into the Company’s mine plans of certain near-term underground and brownfield mine opportunities with the aim of increasing the return at the Yauricocha and Bolivar Mines.

Following COVID restrictions that limit the Company on its exploration activities, greenfield exploration on our extensive 110,000-hectare land packages will be reactivated in due course to develop new and expanded mineral resource opportunities. The Company will be open to JVs and partnerships for these opportunities.

Jose Vizquerra-Benavides, Chairman of the Board of Sierra Metals, said, “We have reached the end of the strategic review process announced early this year. This process, which has taken longer than usual due to COVID, has been instrumental in highlighting the value of our current operations and the value-enhancing opportunities that are available for development. The process has allowed us to develop a strategy that will guide our efforts for the coming years, including a renewed focus on green and steel-related metals, the inclusion of added value from our current extensive land holdings and shared wellbeing with our stakeholders.”

Luis Marchese, CEO of Sierra Metals, said: “The Company expects to have more robust EBITDA and free cash flow starting next year and carrying on into the coming years. This is a benefit of the recent throughput expansions, which are expected to increase production across our suite of metals, hand in hand with strengthened metal prices based on current consensus metal price projections. Our newly instituted dividend policy has been inaugurated on the back of these positive developments and speaks to our belief in Company and our ability to deliver on our growth initiatives. Over the past several years, we have made significant changes across the organization, streamlining our business, strengthening our team, optimizing our operations, and driving much-improved financial performance. Our operations have not only proven themselves to be quite resilient in these uncertain times, but we also expect to emerge from the pandemic and the strategic review process as a significantly stronger Company with a strong focus on growth and value creation for all shareholders as we execute our strategy.”

Annual Dividend

In addition, the Board has authorized the payment of an annual dividend to consist of a base dividend of US$5 million or US$0.03 per share plus an additional amount based on available cash flows generated each year after accounting for planned capital spending, distributions to non-controlling interests, greenfield exploration and mandatory debt service. The initial dividend is expected to be declared in November 2021 and paid to shareholders in December 2021. Additional details of this dividend will be provided in a subsequent press release.

Appointment of New Directors

The Board is also pleased to announce the appointment of Carlos E. Santa Cruz and Oscar M. Cabrera to the Board, effective immediately. Messrs. Cabrera and Santa Cruz have been appointed following the resignation of two directors earlier this year.

Mr. Santa Cruz is a Mining Engineer with over 40 years of experience of strong international managerial background in mining operations at a senior level. He held positions with major mining companies, including Senior Vice-President of Australian and New Zealand Operations and Senior Vice-President of South American Operations for Newmont. He currently sits as Chairman of the Board for BISA Ingenieria de Proyectos S.A.. and Director for JRC Ingeniería y Construcción S.A.C. Mr. Santa Cruz is an Independent Mining Consultant and Part-time Professor at Pontificia Universidad Católica and is a member of Industry Advisory Committees at Penn State and Piura University. Chairman of the Board for CIMADE, NGO oriented to promote sustainable mining and infrastructure megaprojects. Mr. Santa Cruz holds a Ph.D., Mining Engineering and M Eng., Industrial Engineering from Penn State University, as well as the Advanced Management Program from Harvard University. Mr. Santa Cruz is a Peruvian Citizen.

Mr. Cabrera is a Senior equity analyst with over 20 years of experience covering the metals and mining industry for bulge bracket investment banks and Canadian financial institutions, including Goldman Sachs, Merrill Lynch Canada and CIBC World Markets. He obtained recognition for industry thought leadership, fundamental commodity analysis and strong industry relationships, which has led to advisory roles for public mining companies, including Nexa Resources S.A. He also participated in the vetting of and advising on primary and secondary offerings in Canada, the U.S. and Europe. Mr. Cabrera holds a MBA from York University, a M Eng. in Structural Engineering from the University of Toronto and a B. Sc in Civil Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey. Mr. Cabrera is a Canadian Citizen, originally from Mexico.

Jose Vizquerra-Benavides commented, “We are extremely pleased to have Carlos and Oscar join the Board of Sierra. Their extensive knowledge of mining operations and projects both in Peru and Mexico as well as commodity analysis and capital markets will benefit the Company as we progress on a plan of growth and value creation for all stakeholders.”

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.

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Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 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 30, 2020 for its fiscal year ended December 31, 2019 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.

Mike McAllister, CPIR
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

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

Source: Sierra Metals Inc.

Wednesday, October 06, 2021

Palladium One Mining (NKORF)(PDM:CA)
Additional Drill Results Released; Board and Management Appointments

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

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.

Kaukua South drilling results. Palladium One Mining released drill results for six holes at Kaukua South. Hole LK21-088 intersected 3.1 grams of palladium equivalent per tonne over 21.3 meters, within 2.4 grams of palladium equivalent per tonne over 48.5 meters, starting at 120 meters depth. With Hole LK21-087 returning 1.0 gram of palladium equivalent per tonne over 51.0 meters, the mineralized zone of Kaukua South has been extended 200 meters east from previous drilling.


Potential to add resources along the eastern extension.  The company has focused on including the western two kilometers of Kaukua South into a maiden resource estimate and expanding the initial 2019 Kaukua mineral resource estimate. The eastern portion of Kaukua South has not been drilled extensively despite returning significant results in the past. Hole LK21-087 is the furthest hole drilled to …

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. 

Palladium One Announces the Appointment of a Board Chairman, Chief Financial Officer and ESG Committee

 

October 5, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce the appointment of Mr. Lawrence Roulston as Non-Executive Chairman and Ms. Sara Hills as Chief Financial Officer and Corporate Secretary. In addition, the Company is pleased to announce the formation of a new ESG committee of the board of directors. The ESG Committee, will be chaired by Ms. Giovanna Bee Moscoso an Independent Director of the Company.

“We are delighted to have Mr. Roulston, Ms. Moscoso and Ms. Hills take on their new responsibilities and look forward to gaining from their extensive experiences” said Derrick Weyrauch President and CEO of Palladium One. “We wish to thank Mr. Robert Scott and Mr. Jeff Dare for their, respective, past services as CFO and Corporate Secretary of the Company and we wish them much success in their future endeavors.”

About Lawrence Roulston

Lawrence Roulston is a mining professional with over 35 years of diverse hands-on experience. He heads WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. From 2014 to 2016, he was President of Quintana Resources Capital, which provided resource advisory services for US private investors. Before Quintana, he was a mining analyst and consultant, as well as the editor of “Resource Opportunities”, an independent investment publication focused on the mining industry. Prior to this, Lawrence was an analyst or executive with various companies in the resources industry, both majors and juniors. He has graduate-level training in business and holds a B.Sc. in geology and is presently a director of Metalla Royalty and Streaming Ltd, Mountain Boy Minerals Ltd, Thunderstruck Resources Ltd and Enduro Metals Corp.

About Giovanna Bee Moscoso

Ms. Bee Moscoso is an experienced mining executive with over 28 years of experience, including progressive responsibilities over 25 years at Barrick Gold Corporation, where previously she was a partner, Vice President and Assistant General Counsel. At Barrick she co-designed and co-led the implementation of the Global Ethics and Compliance Program of Barrick Gold.

Giovanna has managed legal, regulatory, permitting and contractual matters for various mines in the Americas during exploration, development, operations and mine closures, and held responsibilities for coordinating government and public relations, and developing social outreach programs to foster positive relations with stakeholders, including long-term agreements with indigenous communities and private landowners. Her background also includes providing legal and governance oversight to major mining operations in the Americas and Africa.

About Sara Hills

Ms. Hills is a CPA, CA with over 16 years experience in accounting and finance and has achieved increasingly senior roles in public mining companies including with KGHM International and Teck Resources. At KGHM International she led the accounting and financial reporting functions for Quadra Mining and Quadra FNX as well as the international reporting for KGHM International. At Teck Resources she worked closely with the exploration group, leading their accounting, reporting and budgeting functions. She started her career in public practice at BDO and KPMG and holds a BBA.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.

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 includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Palladium One Continues to Deliver Strong Drilling Results at Kaukua South, Finland

 

3.1 g/t Palladium Equivalent over 21.3 meters, within 2.4 g/t Palladium Equivalent over 48.5 meters at Kaukua South, LK Project, Finland

Drilling extends mineralization 200 meters on eastern side of Kaukua South, returning 1.0 g/t Palladium Equivalent over 51.0 meters

October 5, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce Kaukua South drillhole LK21-088 intersected 3.1 g/t Palladium Equivalent (“Pd_Eq”) over 21.3 meters, within 2.4 g/t Pd_Eq over 48.5 meters, starting at 120 meters depth (Figure 1, and 2).

Additionally, with hole LK-21-087 returning 1.0 g/t Pd_Eq over 51.0 meters the mineralized zone of Kaukua South has been extended 200 meters east from previous drilling, (Figure 3). In aggregate, the Kaukua Trend which includes both the Kaukua deposit and the Kaukua South Zone, now boasts a drill defined mineralized strike length of 4.4 kilometers within a 7-kilometer-long Induced Polarization (“IP”) chargeability anomaly (Figure 1 and 3). Hole LK21-087 confirms that the eastern portion of the Kaukua Trend remains open for further expansion, particularly given a robust IP anomaly has been identified 1 kilometer east of hole LK21-087, see news release July 7, 2021.

Derrick Weyrauch, President and CEO of Palladium One highlighted: “Our Kaukua South discovery continues to deliver excellent results. Today’s drill results from the eastern portion of the Kaukua Trend is further evidence of a prolific mineralized system on our property which we plan to follow up with additional drilling.”

The eastern portion of Kaukua South has received significantly less drilling as we are focused on brining the western two kilometers of Kaukua South to a maiden Resource Estimate and expanding the initial 2019 Kaukua Mineral Resource Estimate. The eastern portion of Kaukua South has returned significant results in the past, such as hole LK20-017 which returned 1.56 g/t Pd_Eq over 22.2 meters (0.22 g/t Pd, 0.05 g/t Pt, 0.09 g/t Au, 0.32% Cu, 0.20% Ni, 119 ppm Co), see October 22, 2020. Today’s announcement of hole LK21-087, is the furthest step-out hole drilled to the east at Kaukua South which when combined with the strong IP anomalies indicate a strong potential to add additional resources along the eastern extension of the Kaukua Trend.

Figure 1. Historic and current drilling in the Kaukua and Western portion of the Kaukau South area having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-088, the rest are pending. Background is Induced Polarization (“IP”) Chargeability.

Figure 2. Kaukua South Long Section. Having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-088, the rest are pending. The long section covers only the western portion of Kaukua South which the Company is focused on bringing to an initial NI43-101 resource estimate. The long section is a vertical slice representing only the ~55° south dipping Lower Zone of Kaukua South. Intercepts are represented in both width (meters) and grade (Pd_Eq*) as well as gram*meters (grade*width).

Figure 3. Eastern portion of Kaukua South, showing results for holes LK21-083 through 087.

Table 1. LK Project Kaukua South Drill Hole Results

* Pd_Eq calculated using 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 Ni
** Spot Au_Eq and Cu_Eq is calculated for comparison only, using recent prices, $1,850/oz Pd, $950/oz Pt, $1750/oz Au, $4.2/lb Cu, and $8.20/lb Ni, and $24/lb cobalt.
Grey Italicised results are previously released (see press release October 22, 2020).

Palladium Equivalent
Revised price assumptions – The Company is now 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, and US$7.50 per pound for nickel consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

Spot Gold Equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$1,850 per ounce for palladium, US$950 per ounce for platinum, US$1,750 per ounce for gold, US$4.2 per pound for copper, and US$8.2 per pound for nickel.

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. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.

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 includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 27, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Bunker Hill Announces Exploration JV With Minewater On London Mining Gold District In Colorado

 

HIGHLIGHTS :

• Bunker Hill secures exclusive option to earn 50% in a joint venture with MineWater Finance LLC to explore the prospective gold-focused London Mining District in Colorado for US$3 million of exploration within four years
• District includes the London Mine which produced >650,000 gold ounces at an average grade of 23 g/t gold from 1875-1942 before being shut down by emergency wartime legislation; also contains other closed mine sites
• JV has exclusive rights to >3,000 acres of patented claim ground, containing intact underground access to known mineralization, >220koz of historic reserves (non-NI 43-101 compliant), significant further exploration prospects
• Transaction expected to close, subject to final due diligence and documentation, by the end of the year
• Executive Chairman Richard Williams, CEO Sam Ash and CFO David Wiens to host live interactive 6ix virtual investor event on Wednesday, October 6th at 11:00AM ET / 8:00AM PT. Investors are invited to register for this event at: [LINK]
  

TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce its intention to enter into a joint venture with MineWater Finance LLC (“MineWater”) to explore the mineral potential of the London gold mine, and the surrounding district, in Colorado, USA. London Mining District produced gold and silver from 1875 to 1942, including over 650,000 gold ounces from the London Mine.

Sam Ash, CEO of Bunker Hill Mining, stated: “We are delighted to announce this partnership with MineWater to explore the prospective London Mining District in Colorado. This aligns with our strategy to grow the value of our company via the regeneration of closed and undervalued precious metals assets in North America in ways that leverage advanced mining, governance and sustainability practices. This partnership combines Bunker Hill’s mining expertise with MineWater’s superb track record of environmental remediation and stewardship, which is key to sustainably revitalizing historic mining districts. While our near-term focus and capital allocation priority continues to be the rapid restart of the Bunker Hill Mine, and its subsequent organic development, we are very excited to add this new option to our North American value-creation pipeline.”

TRANSACTION OVERVIEW AND BACKGROUND

The Company has signed a term sheet to enter into a joint venture with MineWater, the current owner of the London Mine and associated land package totaling over 3,000 acres of patented ground. Under the terms of the agreement, the Company has the option to invest up to US$3 million over a four-year period to earn a 50% ownership position in the joint venture. Upon completion of the definitive agreement, a Board of Directors will be formed to govern the joint venture, to be comprised of 3 members to be appointed by the Company, and 2 members to be appointed by MineWater.

MineWater acquired the surface, mineral and water rights to the London Mining District in 2016 in exchange for performing environmental remediation of the site that improved water quality to meet regulatory requirements. By 2017, the State of Colorado declared the remediation work successful.

MineWater LLC, the sister company of MineWater Finance LLC, performed the environmental remediation work at the London Mine, where it has also developed water resources subsequently purchased by the City of Aurora. Remediation, coupled with dewatering of the London Mine, has been highly beneficial to the environmental status of Mosquito Creek as shown by the EPA (NPDES) publicly available database. MineWater LLC was founded in 2016 by Joseph Harrington, who has been awarded 6 US patents for environmental technologies to address in situ metals immobilization in underground mines, pit lakes and groundwater impacted by mining. Using these patents and other technologies, MineWater LLC solves water issues related to mine sites, particularly arising from the mobility of dissolved heavy metals. Prior to their work at London Mine, the principals of MineWater LLC successfully remediated the Globe Smelter Superfund Site in Denver, Colorado. MineWater has also developed water treatment plants for emergency response programs at the Gold King Mine and the Captain Jack Mill/Big 5 Mines Complex, both US EPA Superfund Sites in Colorado, USA, and is currently designing the in-mine water treatment system at the Bunker Hill Mine.

The agreement remains subject to final definitive documentation and due diligence and is expected to close by the end of 2021.

LONDON MINE AND DISTRICT OVERVIEW

Located approximately 70 miles southwest of Denver, Colorado in Park County, the London Mine lies at an elevation of 11,000’ up south Mosquito Creek from the town of Alma. The London Mine sits in the heart of the Colorado Mineral Belt, the prolific lineament stretching NE to SW across the state and is directly adjacent to the historic Leadville mining district. The Climax molybdenum mine is located just 5 miles north of the London mine workings and many of the same district scale structural features can be traced between the properties.

Figure 1: Satellite image showing close proximity of London Mining District to the Leadville and Climax Mining Districts

The London mine had been in full production from 1875 to 1942, producing over 650,000 gold ounces from more than 3km of strike length on multiple gold-quartz vein structures. Production ceased due to metals prices and government production restrictions related to the War Powers Act. Small-scale mining operations continued after the cessation of WWII through the end of the 1970’s and exploration activities were undertaken through 1991, when the exploration agreement on the property was finally dropped by Lessees.

Exploration interest during the 1980’s saw numerous groups operating programs across the district and their work laid the basis for developing a historic reserve (non-NI 43-101 compliant) estimate on the Property of roughly 120koz Au as Proven and Probable Reserves with an additional 101koz Au as Possible Reserves in 1987 by Cobb Resources and Chrome Corp (operating as the London Mine Joint Venture), a former Lessee (the “1987 reserves”). All majority of the 1987 reserves are contained within the historic London Mine footprint and are potentially accessible from existing development.

The Company believes the 1987 reserve estimate reflects mineralization across the land package associated with the joint venture. The 1987 reserve estimate is historic in nature and does not reflect the classification standards associated with NI 43-101. The Company also notes that a qualified person has not done sufficient work to classify the historical estimate as current mineral reserves under NI 43-101, and the Company is not treating the historical estimate as such. Confirmatory geologic drilling and sampling are required to verify the mineralization contained within the historical reserve estimate as an NI 43-101 compliant mineral resource.

Through the investigation of historical exploration and production reports, the Company has identified 3 main zones to target with future exploration. From north to south, these are the Ag-Pb-Zn-Cu (Base-Metal Sulphide) Replacement area, West London exploration area and the South Butte veins. Each of the 3 zones represent different styles of mineralization and warrant separate exploration methodologies. The shallow nature of the northern base-metal sulphide replacement zone and the Au breccias of the West London area allow for surface drill operations and are deposit styles with previously proven geophysical responses in the District.   MineWater is planning for separate tunnel development efforts over the next 2 years targeting the West London Zone for synergistic mineral and water resource development. This planned effort will save the JV costs and place underground workings directly beneath historic high grade gold mineralized intercepts.

Figure 2: Map showing the London Mine land package and identified exploration target areas.

The South Butte area is a direct extension of known vein structures from the Butte Mine. Results from a 1988 exploration mapping and drilling program proved the down-plunge extension of Au mineralization beyond historic workings which remains open both along strike, over 7,000’ of patented ground to the south, and also at depth. The relatively recent rehabilitation work on historic development will allow for rapid re-entry to the area and continuation of exploration drilling.

Figure 3: Section view through the London Mine showing depth profile and location of identified exploration zones relative to historic development.

Similar to work already completed at the Bunker Hill Mine, the next steps will be to compile and geo-reference historic data on the property into 3D space. Modeling historic workings and drill data related to the London Mine across the district will allow for more detailed exploration drill planning and remote sensing program assignments to be ready for future field seasons.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an Independent “Qualified Person” as defined by NI 43-101 and is acting at the Qualified Person for the Company. He has reviewed and approved the technical information summarized in this news release.

UPCOMING EVENTS

Natural Resources Forum ESG Week

ESG Panel: What It Takes To Get It Right?

October 5, 2021 @ 9:30am ET

Join Us: REGISTER NOW

6ix Investor Event

October 6, 2021 at 11:00am ET / 8:00am PT

Join Us: [LINK]

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, the Company’s ability to restart and develop the Bunker Hill Mine, the Company’s ability to purchase the Land, the Land’s use as security for the Loan, the finalization of the data from the geophysics survey, the utility of the data from the geophysics survey to identify potential near-surface drill targets, the ability for the Company to secure longer-term, non-dilutive financing. 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; 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.

Comstock to Present at LD Micro Main Event

 

VIRGINIA CITY, Nev., Oct. 05, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that its Executive Chairman and CEO, Corrado De Gasperis, is presenting at the LD Micro Main Event in Los Angeles on Wednesday, October 13, 2021, at 12:00 p.m. PDT.

“We are very much looking forward to the first live conference in almost two years. Our recent acquisitions have transformed our portfolio to meet the escalating demand for increasingly scarce natural resources, including the strategic resources needed to fuel the worldwide surge in, and transition to, clean energy and carbon-neutrality,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We have eliminated our debt, tripled our assets and positioned a ready portfolio of clean technologies, and a highly experienced, expanded management team with the capacity for exponential growth and extraordinary financial, natural, and social impacts.”

Presentation details: 

Date: Wednesday, October 13, 2021

Time: 12:00 p.m. PDT to 12:30 p.m. PDT

Register to watch the virtual presentation here.

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.

About LD Micro (NASDAQ: SRAX)

LD Micro aims to be the most crucial resource in the micro-cap world. Whether it is the index, comprehensive data, or hosting the most significant events on an annual basis, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. http://www.ldmicro.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.

Comstock to Present at LD Micro Main Event

 

VIRGINIA CITY, Nev., Oct. 05, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that its Executive Chairman and CEO, Corrado De Gasperis, is presenting at the LD Micro Main Event in Los Angeles on Wednesday, October 13, 2021, at 12:00 p.m. PDT.

“We are very much looking forward to the first live conference in almost two years. Our recent acquisitions have transformed our portfolio to meet the escalating demand for increasingly scarce natural resources, including the strategic resources needed to fuel the worldwide surge in, and transition to, clean energy and carbon-neutrality,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We have eliminated our debt, tripled our assets and positioned a ready portfolio of clean technologies, and a highly experienced, expanded management team with the capacity for exponential growth and extraordinary financial, natural, and social impacts.”

Presentation details: 

Date: Wednesday, October 13, 2021

Time: 12:00 p.m. PDT to 12:30 p.m. PDT

Register to watch the virtual presentation here.

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.

About LD Micro (NASDAQ: SRAX)

LD Micro aims to be the most crucial resource in the micro-cap world. Whether it is the index, comprehensive data, or hosting the most significant events on an annual basis, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. http://www.ldmicro.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.

Bunker Hill Announces Exploration JV With Minewater On London Mining Gold District In Colorado

 

HIGHLIGHTS :

• Bunker Hill secures exclusive option to earn 50% in a joint venture with MineWater Finance LLC to explore the prospective gold-focused London Mining District in Colorado for US$3 million of exploration within four years
• District includes the London Mine which produced >650,000 gold ounces at an average grade of 23 g/t gold from 1875-1942 before being shut down by emergency wartime legislation; also contains other closed mine sites
• JV has exclusive rights to >3,000 acres of patented claim ground, containing intact underground access to known mineralization, >220koz of historic reserves (non-NI 43-101 compliant), significant further exploration prospects
• Transaction expected to close, subject to final due diligence and documentation, by the end of the year
• Executive Chairman Richard Williams, CEO Sam Ash and CFO David Wiens to host live interactive 6ix virtual investor event on Wednesday, October 6th at 11:00AM ET / 8:00AM PT. Investors are invited to register for this event at: [LINK]
  

TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce its intention to enter into a joint venture with MineWater Finance LLC (“MineWater”) to explore the mineral potential of the London gold mine, and the surrounding district, in Colorado, USA. London Mining District produced gold and silver from 1875 to 1942, including over 650,000 gold ounces from the London Mine.

Sam Ash, CEO of Bunker Hill Mining, stated: “We are delighted to announce this partnership with MineWater to explore the prospective London Mining District in Colorado. This aligns with our strategy to grow the value of our company via the regeneration of closed and undervalued precious metals assets in North America in ways that leverage advanced mining, governance and sustainability practices. This partnership combines Bunker Hill’s mining expertise with MineWater’s superb track record of environmental remediation and stewardship, which is key to sustainably revitalizing historic mining districts. While our near-term focus and capital allocation priority continues to be the rapid restart of the Bunker Hill Mine, and its subsequent organic development, we are very excited to add this new option to our North American value-creation pipeline.”

TRANSACTION OVERVIEW AND BACKGROUND

The Company has signed a term sheet to enter into a joint venture with MineWater, the current owner of the London Mine and associated land package totaling over 3,000 acres of patented ground. Under the terms of the agreement, the Company has the option to invest up to US$3 million over a four-year period to earn a 50% ownership position in the joint venture. Upon completion of the definitive agreement, a Board of Directors will be formed to govern the joint venture, to be comprised of 3 members to be appointed by the Company, and 2 members to be appointed by MineWater.

MineWater acquired the surface, mineral and water rights to the London Mining District in 2016 in exchange for performing environmental remediation of the site that improved water quality to meet regulatory requirements. By 2017, the State of Colorado declared the remediation work successful.

MineWater LLC, the sister company of MineWater Finance LLC, performed the environmental remediation work at the London Mine, where it has also developed water resources subsequently purchased by the City of Aurora. Remediation, coupled with dewatering of the London Mine, has been highly beneficial to the environmental status of Mosquito Creek as shown by the EPA (NPDES) publicly available database. MineWater LLC was founded in 2016 by Joseph Harrington, who has been awarded 6 US patents for environmental technologies to address in situ metals immobilization in underground mines, pit lakes and groundwater impacted by mining. Using these patents and other technologies, MineWater LLC solves water issues related to mine sites, particularly arising from the mobility of dissolved heavy metals. Prior to their work at London Mine, the principals of MineWater LLC successfully remediated the Globe Smelter Superfund Site in Denver, Colorado. MineWater has also developed water treatment plants for emergency response programs at the Gold King Mine and the Captain Jack Mill/Big 5 Mines Complex, both US EPA Superfund Sites in Colorado, USA, and is currently designing the in-mine water treatment system at the Bunker Hill Mine.

The agreement remains subject to final definitive documentation and due diligence and is expected to close by the end of 2021.

LONDON MINE AND DISTRICT OVERVIEW

Located approximately 70 miles southwest of Denver, Colorado in Park County, the London Mine lies at an elevation of 11,000’ up south Mosquito Creek from the town of Alma. The London Mine sits in the heart of the Colorado Mineral Belt, the prolific lineament stretching NE to SW across the state and is directly adjacent to the historic Leadville mining district. The Climax molybdenum mine is located just 5 miles north of the London mine workings and many of the same district scale structural features can be traced between the properties.

Figure 1: Satellite image showing close proximity of London Mining District to the Leadville and Climax Mining Districts

The London mine had been in full production from 1875 to 1942, producing over 650,000 gold ounces from more than 3km of strike length on multiple gold-quartz vein structures. Production ceased due to metals prices and government production restrictions related to the War Powers Act. Small-scale mining operations continued after the cessation of WWII through the end of the 1970’s and exploration activities were undertaken through 1991, when the exploration agreement on the property was finally dropped by Lessees.

Exploration interest during the 1980’s saw numerous groups operating programs across the district and their work laid the basis for developing a historic reserve (non-NI 43-101 compliant) estimate on the Property of roughly 120koz Au as Proven and Probable Reserves with an additional 101koz Au as Possible Reserves in 1987 by Cobb Resources and Chrome Corp (operating as the London Mine Joint Venture), a former Lessee (the “1987 reserves”). All majority of the 1987 reserves are contained within the historic London Mine footprint and are potentially accessible from existing development.

The Company believes the 1987 reserve estimate reflects mineralization across the land package associated with the joint venture. The 1987 reserve estimate is historic in nature and does not reflect the classification standards associated with NI 43-101. The Company also notes that a qualified person has not done sufficient work to classify the historical estimate as current mineral reserves under NI 43-101, and the Company is not treating the historical estimate as such. Confirmatory geologic drilling and sampling are required to verify the mineralization contained within the historical reserve estimate as an NI 43-101 compliant mineral resource.

Through the investigation of historical exploration and production reports, the Company has identified 3 main zones to target with future exploration. From north to south, these are the Ag-Pb-Zn-Cu (Base-Metal Sulphide) Replacement area, West London exploration area and the South Butte veins. Each of the 3 zones represent different styles of mineralization and warrant separate exploration methodologies. The shallow nature of the northern base-metal sulphide replacement zone and the Au breccias of the West London area allow for surface drill operations and are deposit styles with previously proven geophysical responses in the District.   MineWater is planning for separate tunnel development efforts over the next 2 years targeting the West London Zone for synergistic mineral and water resource development. This planned effort will save the JV costs and place underground workings directly beneath historic high grade gold mineralized intercepts.

Figure 2: Map showing the London Mine land package and identified exploration target areas.

The South Butte area is a direct extension of known vein structures from the Butte Mine. Results from a 1988 exploration mapping and drilling program proved the down-plunge extension of Au mineralization beyond historic workings which remains open both along strike, over 7,000’ of patented ground to the south, and also at depth. The relatively recent rehabilitation work on historic development will allow for rapid re-entry to the area and continuation of exploration drilling.

Figure 3: Section view through the London Mine showing depth profile and location of identified exploration zones relative to historic development.

Similar to work already completed at the Bunker Hill Mine, the next steps will be to compile and geo-reference historic data on the property into 3D space. Modeling historic workings and drill data related to the London Mine across the district will allow for more detailed exploration drill planning and remote sensing program assignments to be ready for future field seasons.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an Independent “Qualified Person” as defined by NI 43-101 and is acting at the Qualified Person for the Company. He has reviewed and approved the technical information summarized in this news release.

UPCOMING EVENTS

Natural Resources Forum ESG Week

ESG Panel: What It Takes To Get It Right?

October 5, 2021 @ 9:30am ET

Join Us: REGISTER NOW

6ix Investor Event

October 6, 2021 at 11:00am ET / 8:00am PT

Join Us: [LINK]

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, the Company’s ability to restart and develop the Bunker Hill Mine, the Company’s ability to purchase the Land, the Land’s use as security for the Loan, the finalization of the data from the geophysics survey, the utility of the data from the geophysics survey to identify potential near-surface drill targets, the ability for the Company to secure longer-term, non-dilutive financing. 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; 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.

Palladium One Continues to Deliver Strong Drilling Results at Kaukua South, Finland

 

3.1 g/t Palladium Equivalent over 21.3 meters, within 2.4 g/t Palladium Equivalent over 48.5 meters at Kaukua South, LK Project, Finland

Drilling extends mineralization 200 meters on eastern side of Kaukua South, returning 1.0 g/t Palladium Equivalent over 51.0 meters

October 5, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce Kaukua South drillhole LK21-088 intersected 3.1 g/t Palladium Equivalent (“Pd_Eq”) over 21.3 meters, within 2.4 g/t Pd_Eq over 48.5 meters, starting at 120 meters depth (Figure 1, and 2).

Additionally, with hole LK-21-087 returning 1.0 g/t Pd_Eq over 51.0 meters the mineralized zone of Kaukua South has been extended 200 meters east from previous drilling, (Figure 3). In aggregate, the Kaukua Trend which includes both the Kaukua deposit and the Kaukua South Zone, now boasts a drill defined mineralized strike length of 4.4 kilometers within a 7-kilometer-long Induced Polarization (“IP”) chargeability anomaly (Figure 1 and 3). Hole LK21-087 confirms that the eastern portion of the Kaukua Trend remains open for further expansion, particularly given a robust IP anomaly has been identified 1 kilometer east of hole LK21-087, see news release July 7, 2021.

Derrick Weyrauch, President and CEO of Palladium One highlighted: “Our Kaukua South discovery continues to deliver excellent results. Today’s drill results from the eastern portion of the Kaukua Trend is further evidence of a prolific mineralized system on our property which we plan to follow up with additional drilling.”

The eastern portion of Kaukua South has received significantly less drilling as we are focused on brining the western two kilometers of Kaukua South to a maiden Resource Estimate and expanding the initial 2019 Kaukua Mineral Resource Estimate. The eastern portion of Kaukua South has returned significant results in the past, such as hole LK20-017 which returned 1.56 g/t Pd_Eq over 22.2 meters (0.22 g/t Pd, 0.05 g/t Pt, 0.09 g/t Au, 0.32% Cu, 0.20% Ni, 119 ppm Co), see October 22, 2020. Today’s announcement of hole LK21-087, is the furthest step-out hole drilled to the east at Kaukua South which when combined with the strong IP anomalies indicate a strong potential to add additional resources along the eastern extension of the Kaukua Trend.

Figure 1. Historic and current drilling in the Kaukua and Western portion of the Kaukau South area having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-088, the rest are pending. Background is Induced Polarization (“IP”) Chargeability.

Figure 2. Kaukua South Long Section. Having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-088, the rest are pending. The long section covers only the western portion of Kaukua South which the Company is focused on bringing to an initial NI43-101 resource estimate. The long section is a vertical slice representing only the ~55° south dipping Lower Zone of Kaukua South. Intercepts are represented in both width (meters) and grade (Pd_Eq*) as well as gram*meters (grade*width).

Figure 3. Eastern portion of Kaukua South, showing results for holes LK21-083 through 087.

Table 1. LK Project Kaukua South Drill Hole Results

* Pd_Eq calculated using 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 Ni
** Spot Au_Eq and Cu_Eq is calculated for comparison only, using recent prices, $1,850/oz Pd, $950/oz Pt, $1750/oz Au, $4.2/lb Cu, and $8.20/lb Ni, and $24/lb cobalt.
Grey Italicised results are previously released (see press release October 22, 2020).

Palladium Equivalent
Revised price assumptions – The Company is now 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, and US$7.50 per pound for nickel consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

Spot Gold Equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$1,850 per ounce for palladium, US$950 per ounce for platinum, US$1,750 per ounce for gold, US$4.2 per pound for copper, and US$8.2 per pound for nickel.

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. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.

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 includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 27, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Palladium One Announces the Appointment of a Board Chairman, Chief Financial Officer and ESG Committee

 

October 5, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce the appointment of Mr. Lawrence Roulston as Non-Executive Chairman and Ms. Sara Hills as Chief Financial Officer and Corporate Secretary. In addition, the Company is pleased to announce the formation of a new ESG committee of the board of directors. The ESG Committee, will be chaired by Ms. Giovanna Bee Moscoso an Independent Director of the Company.

“We are delighted to have Mr. Roulston, Ms. Moscoso and Ms. Hills take on their new responsibilities and look forward to gaining from their extensive experiences” said Derrick Weyrauch President and CEO of Palladium One. “We wish to thank Mr. Robert Scott and Mr. Jeff Dare for their, respective, past services as CFO and Corporate Secretary of the Company and we wish them much success in their future endeavors.”

About Lawrence Roulston

Lawrence Roulston is a mining professional with over 35 years of diverse hands-on experience. He heads WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. From 2014 to 2016, he was President of Quintana Resources Capital, which provided resource advisory services for US private investors. Before Quintana, he was a mining analyst and consultant, as well as the editor of “Resource Opportunities”, an independent investment publication focused on the mining industry. Prior to this, Lawrence was an analyst or executive with various companies in the resources industry, both majors and juniors. He has graduate-level training in business and holds a B.Sc. in geology and is presently a director of Metalla Royalty and Streaming Ltd, Mountain Boy Minerals Ltd, Thunderstruck Resources Ltd and Enduro Metals Corp.

About Giovanna Bee Moscoso

Ms. Bee Moscoso is an experienced mining executive with over 28 years of experience, including progressive responsibilities over 25 years at Barrick Gold Corporation, where previously she was a partner, Vice President and Assistant General Counsel. At Barrick she co-designed and co-led the implementation of the Global Ethics and Compliance Program of Barrick Gold.

Giovanna has managed legal, regulatory, permitting and contractual matters for various mines in the Americas during exploration, development, operations and mine closures, and held responsibilities for coordinating government and public relations, and developing social outreach programs to foster positive relations with stakeholders, including long-term agreements with indigenous communities and private landowners. Her background also includes providing legal and governance oversight to major mining operations in the Americas and Africa.

About Sara Hills

Ms. Hills is a CPA, CA with over 16 years experience in accounting and finance and has achieved increasingly senior roles in public mining companies including with KGHM International and Teck Resources. At KGHM International she led the accounting and financial reporting functions for Quadra Mining and Quadra FNX as well as the international reporting for KGHM International. At Teck Resources she worked closely with the exploration group, leading their accounting, reporting and budgeting functions. She started her career in public practice at BDO and KPMG and holds a BBA.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.

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 includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Tuesday, October 05, 2021

Great Bear Resources (GTBAF)(GBR:CA)
Latest Results Establish Continuity of High-Grade Mineralization at Depth

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

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

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

Meaningful drill results. Great Bear released results for 42 drill holes, of which 7 are representative of deeper LP Fault mineralization along 1.4 kilometers of strike length at a depth between 450-and-750 meters. Included were results for 17 shallow drill holes along 3.6 kilometers of strike length targeting lower grade bulk tonnage mineralization that surrounds high-grade gold domains. To date, Great Bear has reported 446 LP Fault drill holes and completed 300,000 meters of drilling at the Dixie property.


Doubling down at the LP Fault.  The new drill results established continuity of both high-grade and bulk tonnage style gold over a broad area at depth with the same pattern of high-grade domains surrounded by lower grade envelopes as observed from Phase 1 drilling results conducted to a depth of 450 meters. Deeper drilling will continue along an additional 2.6 kilometers of strike length during …

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. 

Great Bear Drills Deep LP Fault: 157.00 g/t Gold Over 1.20 m Within 11.01 g/t Gold Over 22.85 m from 678.75 m Downhole

 

October 4, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “Our systematic deep drilling of the LP Fault along 1.4 kilometres of strike length has successfully intersected the target geology with gold mineralization in all areas.  These results establish significant continuity of both high-grade and bulk tonnage style gold over a broad area at depth, which remains open to extension in all directions.  The LP Fault has no geological analogs in the Red Lake district, with the closest being the Hemlo gold deposit located near Marathon, Ontario.”

Deep LP Fault Drilling

Seven new drill holes are representative of deeper LP Fault mineralization across a broad area of 1.4 kilometres of strike length between approximately 450 and 750 metres downhole depth.  Deeper drilling will continue along an additional 2.6 kilometres of strike length during the ongoing Phase 2 program.

The same pattern of high-grade domains surrounded by lower grade envelopes are observed as had previously been drilled at shallower depths.  Results are provided in Table 1.

Highlights include:

• These new drill holes are not infill drilling, and significantly extend gold mineralization to depth on their respective drill sections.  Figure 1, Figure 2, Figure 3 and Figure 4.
• New drill hole BR-385 intersected multiple high-grade gold domains, including 157.00 g/t gold over 1.20 metres from 696.45 to 697.65 metres downhole, within a broader interval of 41.76 g/t gold over 5.15 metres from 696.45 to 701.60 metres.
  • The total mineralized interval using the same calculation criteria applied to the shallow LP Fault zone since its discovery (i.e. composite intervals cannot include more than 3 metres assaying less than 0.10 g/t gold) is 6.90 g/t gold over 36.95 metres from 673.25 to 710.20 metres downhole.
  • However, given the greater depths explored by these drill holes, a more relevant interval that excludes peripheral bulk tonnage style gold mineralization and may be more representative of any future potential underground development scenarios is 11.01 g/t gold over 22.85 metres from 678.75 to 701.60 metres downhole.
• New drill hole BR-386 intersected 16.92 g/t gold over 4.90 metres from 525.00 to 529.90 metres downhole, within a broader interval of 2.21 g/t gold over 49.55 metres from 522.45 to 572.00 metres downhole.
• New drill hole BR-411 intersected 13.84 g/t gold over 3.15 metres from 459.15 to 462.30 metres downhole.
  • BR-411 is significant as it intersects high-grade gold below the “Gap” area of the LP Fault, and is over 500 metres above the deepest LP Fault intercept to-date in previously reported drill hole BR-260 (March 29, 2021) which assayed 15.57 g/t gold over 3.05 metres from 942.20 to 945.25 metres downhole.  More drilling is required to determine if both intercepts occur along a controlling plunge within the same high-grade gold domain.
• New drill hole BR-384 intersected multiple mineralized intervals including 50.50 g/t gold over 1.00 metre from 587.50 to 588.50 metres downhole, and 6.71 g/t gold over 6.30 metres from 687.50 to 693.80 metres downhole.  The total mineralized interval was 3.97 g/t gold over 17.50 metres from 687.50 to 705.00 metres downhole.

Shallow Drill Results

Seventeen additional drill holes intersected the shallow LP Fault along 3.6 kilometres of strike length.  Most of these targeted the bulk tonnage style envelope adjacent to higher-grade domains for resource delineation purposes.  Maiden mineral resource estimate disclosure is planned for Q1 of 2022.

Highlights include:

• Eastern LP Fault (Viggo area) drill hole BR-379 intersected 1.84 g/t gold over 28.05 metres from 101.35 to 129.40 metres downhole.  This included high-grade intervals of 15.90 g/t gold over 1.00 metre from 101.35 to 102.35 metres downhole and 28.70 g/t gold over 0.50 metres from 123.50 to 124.00 metres downhole.
  • This drill hole is significant as it adds bulk tonnage style gold mineralization at shallow depths to this area.  A steeply plunging area of stronger gold mineralization is currently being defined here (see news release of August 25, 2021).

• Drill holes characterizing additional shallow bulk tonnage style mineralization are summarized in Table 2 and include:
  • BR-425 which intersected 1.09 g/t gold over 80.55 metres from 62.50 to 142.75 metres downhole,
  • BR-441 which intersected 1.08 g/t gold over 30.25 metres from 13.00 to 43.25 metres downhole, and
  • BR-443 which intersected 0.55 g/t gold over 66.20 metres from 38.50 to 104.70 metres downhole.

An additional 16 shallow drill holes were collared outside the LP Fault zone and targeted areas up to 200 metres away from the zone which may be incorporated into any future mineral resource estimation or infrastructure development planning.  All holes intersected anomalous to low-grade gold mineralization.  The most significant intercepts were 0.52 g/t gold over 20.00 metres from 56.50 to 76.50 metres downhole in drill hole BR-435, and 0.55 g/t gold over 26.25 metres from 10.85 to 37.10 metres downhole in drill hole BR-444.   Results from this drilling are included in a separate table on the Company’s web site at www.greatbearresources.ca.

Ongoing Phase 2 LP Fault Expansion Drilling and Upcoming Reports

• With the 42 new drill holes contained in this release, Great Bear has reported 446 LP Fault drill holes.  Including in-progress drill holes, Great Bear has completed 300,000 metres of drilling at the Dixie property to-date.
• Phase 1 drilling consisted of 440 LP Fault drill holes and was completed in July 2021.  The program was designed to support mineral resource estimation along approximately 4 kilometres of strike length to a depth of approximately 450 metres.
• Phase 2 drilling is designed to expand LP Fault gold mineralization between approximately 450 and 900 metres depth over approximately 4 kilometres of strike length.
• Great Bear will continue Phase 2 expansion drilling with the goal of significantly expanding the drill confirmed extent of gold mineralization at the LP Fault by late 2022.
• Other Phase 2 drilling will include regional drilling of new targets, and mineral resource definition and expansion drilling of the Dixie Limb and Hinge zones.  The Company is fully funded for this work.

In addition to regular releases detailing Phase 2 drill results, deliverables for 2022 are expected to include: 1) a maiden mineral resource estimate in accordance with NI 43-101 of the LP Fault zone Phase 1 drilling, 2) a Preliminary Economic Assessment (“PEA”) of the LP Fault zone, and 3) a mineral resource update which will include deeper drill results from the LP Fault, plus maiden mineral resource estimates for the Dixie Limb and Hinge zones.  Further details will be provided as results continue to be received and processed.

Table 1: New deep LP Fault drill results along 1.4 kilometres of strike length.

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Table 2: Shallow drill results along 3.6 kilometres of strike length targeting the bulk tonnage mineralized envelope that surrounds the high-grade gold domains.

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

 

Figure 1: LP Fault long section showing only high-grade gold domain intercepts.  Gold intercepts from the surrounding bulk tonnage style domains have been removed for clarity.  New drill results inside of the high-grade domains are highlighted.

Figure 2: Cross section 20900 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 3: Cross section 20825 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 4: Cross section 20775 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes targeting the LP Fault zone included in this release are provided in the table below (UTM zone 15N, NAD 83):

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction.  Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines.  The property also hosts a network of well-maintained logging roads which facilitate access.

The 23 high-grade domains discussed in this release are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and  transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 672 drill holes, identifying three high-grade gold discoveries.  The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units.  LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length.  The nearby “Hinge” and “Limb” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units.  Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization.  Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada.  A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault.  Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.  The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial NI 43-101 compliant multi-million ounce mineral resource estimate for the Dixie project in early 2022. 

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations
Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Great Bear Drills Deep LP Fault: 157.00 g/t Gold Over 1.20 m Within 11.01 g/t Gold Over 22.85 m from 678.75 m Downhole

 

October 4, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “Our systematic deep drilling of the LP Fault along 1.4 kilometres of strike length has successfully intersected the target geology with gold mineralization in all areas.  These results establish significant continuity of both high-grade and bulk tonnage style gold over a broad area at depth, which remains open to extension in all directions.  The LP Fault has no geological analogs in the Red Lake district, with the closest being the Hemlo gold deposit located near Marathon, Ontario.”

Deep LP Fault Drilling

Seven new drill holes are representative of deeper LP Fault mineralization across a broad area of 1.4 kilometres of strike length between approximately 450 and 750 metres downhole depth.  Deeper drilling will continue along an additional 2.6 kilometres of strike length during the ongoing Phase 2 program.

The same pattern of high-grade domains surrounded by lower grade envelopes are observed as had previously been drilled at shallower depths.  Results are provided in Table 1.

Highlights include:

• These new drill holes are not infill drilling, and significantly extend gold mineralization to depth on their respective drill sections.  Figure 1, Figure 2, Figure 3 and Figure 4.
• New drill hole BR-385 intersected multiple high-grade gold domains, including 157.00 g/t gold over 1.20 metres from 696.45 to 697.65 metres downhole, within a broader interval of 41.76 g/t gold over 5.15 metres from 696.45 to 701.60 metres.
  • The total mineralized interval using the same calculation criteria applied to the shallow LP Fault zone since its discovery (i.e. composite intervals cannot include more than 3 metres assaying less than 0.10 g/t gold) is 6.90 g/t gold over 36.95 metres from 673.25 to 710.20 metres downhole.
  • However, given the greater depths explored by these drill holes, a more relevant interval that excludes peripheral bulk tonnage style gold mineralization and may be more representative of any future potential underground development scenarios is 11.01 g/t gold over 22.85 metres from 678.75 to 701.60 metres downhole.
• New drill hole BR-386 intersected 16.92 g/t gold over 4.90 metres from 525.00 to 529.90 metres downhole, within a broader interval of 2.21 g/t gold over 49.55 metres from 522.45 to 572.00 metres downhole.
• New drill hole BR-411 intersected 13.84 g/t gold over 3.15 metres from 459.15 to 462.30 metres downhole.
  • BR-411 is significant as it intersects high-grade gold below the “Gap” area of the LP Fault, and is over 500 metres above the deepest LP Fault intercept to-date in previously reported drill hole BR-260 (March 29, 2021) which assayed 15.57 g/t gold over 3.05 metres from 942.20 to 945.25 metres downhole.  More drilling is required to determine if both intercepts occur along a controlling plunge within the same high-grade gold domain.
• New drill hole BR-384 intersected multiple mineralized intervals including 50.50 g/t gold over 1.00 metre from 587.50 to 588.50 metres downhole, and 6.71 g/t gold over 6.30 metres from 687.50 to 693.80 metres downhole.  The total mineralized interval was 3.97 g/t gold over 17.50 metres from 687.50 to 705.00 metres downhole.

Shallow Drill Results

Seventeen additional drill holes intersected the shallow LP Fault along 3.6 kilometres of strike length.  Most of these targeted the bulk tonnage style envelope adjacent to higher-grade domains for resource delineation purposes.  Maiden mineral resource estimate disclosure is planned for Q1 of 2022.

Highlights include:

• Eastern LP Fault (Viggo area) drill hole BR-379 intersected 1.84 g/t gold over 28.05 metres from 101.35 to 129.40 metres downhole.  This included high-grade intervals of 15.90 g/t gold over 1.00 metre from 101.35 to 102.35 metres downhole and 28.70 g/t gold over 0.50 metres from 123.50 to 124.00 metres downhole.
  • This drill hole is significant as it adds bulk tonnage style gold mineralization at shallow depths to this area.  A steeply plunging area of stronger gold mineralization is currently being defined here (see news release of August 25, 2021).

• Drill holes characterizing additional shallow bulk tonnage style mineralization are summarized in Table 2 and include:
  • BR-425 which intersected 1.09 g/t gold over 80.55 metres from 62.50 to 142.75 metres downhole,
  • BR-441 which intersected 1.08 g/t gold over 30.25 metres from 13.00 to 43.25 metres downhole, and
  • BR-443 which intersected 0.55 g/t gold over 66.20 metres from 38.50 to 104.70 metres downhole.

An additional 16 shallow drill holes were collared outside the LP Fault zone and targeted areas up to 200 metres away from the zone which may be incorporated into any future mineral resource estimation or infrastructure development planning.  All holes intersected anomalous to low-grade gold mineralization.  The most significant intercepts were 0.52 g/t gold over 20.00 metres from 56.50 to 76.50 metres downhole in drill hole BR-435, and 0.55 g/t gold over 26.25 metres from 10.85 to 37.10 metres downhole in drill hole BR-444.   Results from this drilling are included in a separate table on the Company’s web site at www.greatbearresources.ca.

Ongoing Phase 2 LP Fault Expansion Drilling and Upcoming Reports

• With the 42 new drill holes contained in this release, Great Bear has reported 446 LP Fault drill holes.  Including in-progress drill holes, Great Bear has completed 300,000 metres of drilling at the Dixie property to-date.
• Phase 1 drilling consisted of 440 LP Fault drill holes and was completed in July 2021.  The program was designed to support mineral resource estimation along approximately 4 kilometres of strike length to a depth of approximately 450 metres.
• Phase 2 drilling is designed to expand LP Fault gold mineralization between approximately 450 and 900 metres depth over approximately 4 kilometres of strike length.
• Great Bear will continue Phase 2 expansion drilling with the goal of significantly expanding the drill confirmed extent of gold mineralization at the LP Fault by late 2022.
• Other Phase 2 drilling will include regional drilling of new targets, and mineral resource definition and expansion drilling of the Dixie Limb and Hinge zones.  The Company is fully funded for this work.

In addition to regular releases detailing Phase 2 drill results, deliverables for 2022 are expected to include: 1) a maiden mineral resource estimate in accordance with NI 43-101 of the LP Fault zone Phase 1 drilling, 2) a Preliminary Economic Assessment (“PEA”) of the LP Fault zone, and 3) a mineral resource update which will include deeper drill results from the LP Fault, plus maiden mineral resource estimates for the Dixie Limb and Hinge zones.  Further details will be provided as results continue to be received and processed.

Table 1: New deep LP Fault drill results along 1.4 kilometres of strike length.

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Table 2: Shallow drill results along 3.6 kilometres of strike length targeting the bulk tonnage mineralized envelope that surrounds the high-grade gold domains.

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

 

Figure 1: LP Fault long section showing only high-grade gold domain intercepts.  Gold intercepts from the surrounding bulk tonnage style domains have been removed for clarity.  New drill results inside of the high-grade domains are highlighted.

Figure 2: Cross section 20900 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 3: Cross section 20825 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 4: Cross section 20775 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes targeting the LP Fault zone included in this release are provided in the table below (UTM zone 15N, NAD 83):

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction.  Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines.  The property also hosts a network of well-maintained logging roads which facilitate access.

The 23 high-grade domains discussed in this release are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and  transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 672 drill holes, identifying three high-grade gold discoveries.  The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units.  LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length.  The nearby “Hinge” and “Limb” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units.  Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization.  Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada.  A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault.  Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.  The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial NI 43-101 compliant multi-million ounce mineral resource estimate for the Dixie project in early 2022. 

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations
Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.