Metals Update 25/8/2020

Namibia Critical arranges $5-million drawdown facility

Namibia Critical Metals Inc. has entered into a drawdown equity financing facility with Alumina Partners (Ontario) Ltd., an affiliate of New York-based private equity firm Alumina Partners LLC, which is structured to provide Namibia Critical Metals with timely access to private placement financing(s), as and when required. Under the terms of the Investment Agreement, the Company has the right to draw down on the $5,000,000 facility, at its sole discretion, through equity private placement tranches of up to $250,000 each.

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Allegiant Gold signs option deal over Clanton Hills

Allegiant Gold Ltd. has entered into an option agreement with Volt Energy Corp., whereby Volt can acquire up to 70 per cent of the Clanton Hills silver project in Arizona.

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Power Metals grants options to buy 2.87 million shares

Power Metals Corp. has granted 2,876,045 incentive stock options to officers, directors, employees and consultants of the company. The options are exercisable at a price of 30 cents per share for a period of five years from the date of grant.

Critical Elements closes $3M private placement

Critical Elements Lithium Corp. has closed a non-brokered private placement of 10 million common share units of the corporation at a price of 30 cents per unit for aggregate gross proceeds of $3-million.

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Millrock Resources agreement for Alaska mining claims

The TSX Venture Exchange has accepted for filing documentation an exclusive rights agreement dated July 28, 2020, between Millrock Resources Inc. and the owners of the Treasury Creek property. Pursuant to the agreement, the company will have the exclusive option, at any time up to Sept. 30, 2021, to enter into an option to purchase agreement for certain mining claims located in the Fairbanks Recording district, state of Alaska, at predetermined business terms. As consideration, the company has agreed to provide the vendors with 500,000 common shares at a deemed price of 20.625 cents and further committed to performing assessment work of approximately $15,000 (U.S.) and paying additional claim rentals of $25,000 (U.S.) for the year 2020.

Cartier Resources flow-through private placement

The TSX Venture Exchange has accepted for filing documentation with respect to the following brokered private placement as announced in a news release dated July 23, 2020.

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Cartier drills two m of 20.4 g/t Au at Chimo

Cartier Resources Inc. has drilled an interval of 20.4 grams per tonne gold over 2.0 metres included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of zones 5B4, 5M4 and 5NE, which were estimated by GeoPointCom in 2019. The Chimo Mine Property is held 100% by Cartier and is situated 45 km east of the Val-d’Or mining camp.

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Tristar Gold qualifies to trade on OTCQX Best

Tristar Gold Inc. has qualified to trade on the OTCQX Best Market. Tristar Gold Inc. upgraded to OTCQX from the OTCQBtrademark Venture Market.

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Globex Mining Enterprises Closes Two More Property Deals

In the first case, Globex sold 100% interest in all 16 cell fractions of the Sigma East Property, located east of the Sigma Mine and 1 cell fraction, the Sigma 2 property, to Eldorado Gold Quebec Inc., a subsidiary of Eldorado Gold Corporation (ELD-TSX), for a single cash payment of CAD $1,606,000.00.  Historical drilling intersected erratic gold mineralization on several of the cells.

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IsoEnergy begins summer drilling at Hurricane zone

IsoEnergy Ltd. has begun the summer 2020 drilling program at its Hurricane zone. Discovered in 2018 on the Larocque East property, the Hurricane zone is a recent discovery of high-grade uranium mineralization with intersections of up to 33.9% U3O8 over 8.5m. The Larocque East property is 100% owned by IsoEnergy and is located in the prolific Eastern Athabasca Basin of Saskatchewan (Figure 1).

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Allegiant Gold Options Historic Mogollon Silver-Gold District to Summa Silver

VANCOUVER, British Columbia, Aug. 25, 2020 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is very pleased to announce that it has signed a definitive agreement with Summa Silver (“Summa”) (CSE: SSVR) whereby Summa can acquire up to a 100% interest in the historic Mogollon silver-gold mining district (the “Property”) of southwestern New Mexico from Allegiant Gold Ltd (“Allegiant”) (TSXV: AUAU).

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Globe says MacLean calls Galway his favourite explorer

The Globe and Mail reports in its Friday, Aug. 21, edition that Paradigm Capital analyst Don MacLean is again calling Galway Metals one of his favourite explorers. The Globe’s David Leeder writes in the Eye On Equities column that Mr. MacLean says Galway has delivered beyond his expectations.

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TriStar Gold Upgraded to Trading on the OTCQX Market in the United States

Scottsdale, Arizona–(Newsfile Corp. – August 25, 2020) – TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (the “Company” or “TriStar”) is pleased to announce that its common shares have qualified to trade on the OTCQX® Best Market upgraded from the OTCQB® Venture Market. The shares will trade on the OTCQX under the ticker symbol TSGZF and will commenced trading, August 25, 2020.

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