Metals Update 10/8/2020

Abraplata increases private placement to $18-million

Abraplata Resource Corp. has increased the size of its previously announced non-brokered private placement of units from $15-million to $18-million. Upon closing of the offering, the company will issue up to 66,666,667 units at a price of 27 cents per unit. Each unit will consist of one common share in the equity of the company and one-half of one share purchase warrant. Each warrant will entitle the subscriber to purchase one additional common share at a price of 40 cents until the second anniversary of the closing date of the offering.

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Fura Gems to acquire Australian mining company

Fura Gems Inc. has entered into a share sale agreement through its wholly owned Australian subsidiary, Capricorn Sapphire Pty. Ltd., with Mosley Mining Pty. Ltd. (the vendor), pursuant to which the company will acquire all of the issued and outstanding shares of Great Northern Mining Pty. Ltd. (the target), a mining company located in Australia. The assets of the Target consist of 73 mining leases (the “Tenements”), each located in Australia, as well as certain buildings, plants, fixtures, tools, and other equipment related to the Tenements.

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Highgold Mining private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered (bought) and non-brokered (NB) private placement announced on July 6, 2020, and July 13, 2020, respectively.

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Radisson to acquire New Alger from Renforth

Radisson Mining Resources Inc. and Renforth Resources Inc. have signed a binding agreement pursuant to which Radisson will acquire a 100-per-cent interest in Renforth’s New Alger gold property and enter into a long-term strategic relationship through a 9.6-per-cent equity investment by Radisson in Renforth. The relationship aims to leverage regional synergies and unlock significant value for shareholders of both companies from one of the most prospective mining camps in the world.

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Serengeti completes phase 1 exploration at Kwanika

Phase 1 exploration on Serengeti Resources Inc.’s Kwanika copper-gold project has been completed, and phase 2, which includes drilling, is to begin shortly. The Kwanika project is approximately 26,000 hectares, held by Kwanika Copper Corp. (KCC) and located in the northern Quesnel Trough of British Columbia which hosts numerous porphyry copper-gold deposits.

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