Group 11’s initials steps will include acquisition and subsequent testing of gold projects, already identified, that demonstrate specific qualities lending themselves to the Company’s environmentally and economically superior processes. Group 11 is committed to providing commercially viable, sustainable alternatives to conventional mining for the extraction and processing of precious metals.

Group 11 was founded and is owned by enCore Energy Corp. (“enCore”) (TSXV: EU; OTCQB: ENCUF) with 40% of the common stock, EnviroLeach Technologies Inc. (“EnviroLeach”) (CSE : ETI; OTCQB: EVLLF) with 40% of the common stock and Golden Predator Mining Corp. (“Golden Predator”) (TSXV: GPY; OTCQB: NTGSF) with 20% of the common stock. EnCore has contributed $750,000 in initial funding and will provide in-situ extraction expertise, EnviroLeach has entered into a license agreement with Group 11 for the use of its environmentally friendly metal recovery process and will provide chemical and metallurgical expertise, Golden Predator will contribute mobile processing equipment and expertise in utilizing EnviroLeach’s environmentally friendly solution for recovery of gold from sulphide concentrates. Group 11, a private company, will finance all ongoing research and development expenditures for in-situ and secondary recovery applications.

About Group 11 Technologies Inc.

Sustainable metals extraction is a serious challenge for the mining industry which faces mounting concerns over its environmental and carbon footprint, energy consumption, operational safety and especially its impact on water use and water quality while responding to an ever-increasing need for metals in our daily lives. Each Group 11 owner brings a vital skill set to address these challenges and create a unique business opportunity. Group 11 is backed by a first-class staff of scientists and engineers; an extraordinary data set; independent technical validations; strategic relationships; over $20 million in research and development; and commercially proven processes and technologies.

Janet Lee-Sheriff, Chief Executive Office said: “We are extremely proud of the contribution our processing plant’s batch processing unit (SRU{ഇ ™}) has contributed to Group 11’s team. With the world’s first on-site test of the EnviroLeach cyanide-free metals recovery process we have demonstrated that their process and our mobile plant can economically recover gold from sulphide concentrates, which is a valuable business opportunity.”

Background on Non-Invasive Extraction Technology

Non-invasive extraction of minerals has been successfully implemented in the mining sector with many innovators and patent holders in the field on the team at enCore, one of the Group 11 partners. These innovators pioneered In-situ Recovery (“ISR”) which has been successfully utilized to recover metals including uranium and copper using liquid solutions other than cyanide. Group 11 is committed to the development and application of ISR extraction for gold and other metals using EnviroLeach’s patented environmentally friendly process along with enCore’s expertise in ISR extraction. This combination of expertise will advance a business model that has potential to disrupt the conventional mining industry.

In-Situ Recovery (meaning ‘in place’) is a non-invasive extraction method that has transformed the uranium industry. In ISR, diluted water-based solutions are circulated underground, dissolving the targeted metals, and returned to surface for further processing and recovery of the target metals. ISR means no open pits or underground tunnels, no tailings or large waste dumps and no discharge of noxious chemical at surface. It therefore has the potential to be a low-impact, low capital cost mining method. When many projects are burdened by remediation and rehabilitation requirements, ISR means substantially reduced mine-closure time and costs compared to conventional practices. In addition, energy requirements, water usage and the environmental footprint of mining projects can be significantly reduced using ISR technology.

About the Golden Predator Process

Golden Predator’s test processing plant, the first of its kind in Yukon, Canada, operated from 2016 to 2020 providing increased metallurgical and geological understanding of one of the Company’s projects. A closed-circuit water system with no added chemicals due to the free-milling nature of the gold, Golden Predator partnered with EnviroLeach to utilize its patent pending environmentally-friendly cyanide-free solution in its custom-built mobile extraction unit (“SRU”) to process its sulphide concentrates. The cumulative testing resulted in a total calculated recovery of 93.17% of the gold contained in the concentrate. This work lead to the eventual combination of Golden Predator’s SRU{៽ ™}, enCore Energy Corp.’s ISR expertise and EnviroLeach’s technology in partnerships within Group 11 to consider alternate extraction technologies for precious metals.

Group 11 Technologies Inc. (‘Group 11’) is a private US-based company committed to the development and application of environmentally and socially responsible mineral extraction. Its combination of non-invasive extraction technology and environmentally friendly processes to recover gold and other metals provides an alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption and safety while addressing a growing global need for metals in our daily lives.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and a Bankable Feasibility Study underway to evaluate a restart of heap leach operations at the Brewery Creek Mine, 2020 proves to be a pivotal year for the Company. Golden Predator Mining Corp. has spearheaded and successfully applied the EnviroLeach technology to the recovery of gold from sulphide concentrates where cyanide is not feasible or permitted, using its proprietary mobile recovery unit.

Founded just under six months ago, the company is now in the enviable position of having a cash balance of over $10-million on hand to execute its strategic plan.

The efforts consisted of a previously announced short form prospectus offering, on a bought deal basis, including the full exercise of the underwriter’s overallotment option in the form of units of the company. A total of 8,846,156 units of the company at a price per unit of 65 cents each were purchased for aggregate gross proceeds of $5.75-million. The offering was conducted by Leede Jones Gable Inc.

Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share for a period of 24 months following the closing of the offering at an exercise price of 80 cents.

The net proceeds of the offering will be used to finance mineral exploration expenditures on the company’s Tolillar lithium project in Argentina as well as for general working capital purposes.

Chief executive officer Brad Nichol stated: “The successful conclusion of this financial injection is both validation and motivation regarding our efforts in Argentina. Our recent news release of July 16 announcing the very positive results at the northern portion of our Tolillar salar property provided the stimulus which led to the announcement on Aug. 5 of our plans to expand our exploration efforts to the south, which was quickly followed by our Aug. 26 news regarding the commencement of an extended geophysics program.

“With our local team providing an exceptional degree of commitment to safety in the face of unprecedented health considerations, the excitement to move ahead is unmistakable. The ongoing road and field camp construction concurrent to the exploratory efforts is driven by a positivity with each successive report from the field. We don’t have to look any farther than the nearby productive Hombre Muerto salar to recognize what a large-area successful outcome looks like, and, so far, we are encouraged by the results to date. The success of this financing will help propel our efforts in Argentina, which ultimately aids our commitment towards building continued shareholder value.”

Regarding summary details of the financing, in consideration for its services, the company paid the underwriter a cash commission equal to 7 per cent of the gross proceeds of the offering and issued the underwriter options to acquire up to 619,230 common shares of the company at a price of 65 cents for a period of 24 months from closing.

About Alpha Lithium Corp.

Alpha Lithium is a growing team of industry professionals and experienced stakeholders focused on the development of the Tolillar salar. The company has assembled a 100-per-cent ownership of what may be one of Argentina’s last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres) and neighbouring multibillion-dollar lithium players in the heart of the renowned Lithium Triangle. Other companies in the area that are exploring for lithium brines or are currently in production include: Galaxy Lithium and Posco at the Hombre de Muerto salar; Livent at the Hombre de Muerto salar; Orocobre at the Olaroz salar; Eramine SudAmerica SA at the Centenario salar; and Gangfeng and Lithium Americas at the Cauchari salar.

Results from a further two holes remain pending and are expected to be received sometime in mid-September. As announced on Aug. 12, 2020, the company is currently conducting phase II of the exploration program, consisting of an additional 5,000 metres of diamond drilling. The expanded exploration program will result in the total 2019-2020 program consisting of a total of 8,000 metres in approximately 17 diamond drill holes.

                     DDH 20-002 AND DDH 20-003 DRILL RESULT HIGHLIGHTS 

Drill hole        From      To        Type  Interval    True width  Au g/t  Ag g/t  Cu %
                    (m)     (m)                   (m)           (m)
DDH-20-002         246     247   Sulphides         1           0.8    0.12   160.0  0.39
DDH-20-002         337     349   Sulphides        12           9.6    1.14    13.4  2.56
including          342     346   Sulphides         4           3.2    2.70    22.1  2.84
DDH-20-003          70      87      Oxides        17          13.6    2.33    20.6     -   
DDH-20-003         267     289      Oxides        22          17.6    4.22    25.3     -   
including          282     283      Oxides         1           0.8   31.17    60.4     -   
DDH-20-003         318     321      Oxides         3           2.4    2.36    29.3     -   
DDH-20-003         346     349      Oxides         3           2.4    2.37    13.4     -   
DDH-20-003         405     407   Sulphides         2           1.6    3.34    28.3  4.49
DDH-20-003         428     434   Sulphides         6           4.8    0.77       -  1.11
DDH-20-003         446   446.5   Sulphides       0.5           0.4    0.52       -  6.30

Note: True widths are estimated to be 80 per cent of the interval widths.
 

The highlighted gold, silver and copper intercepts are shown on cross-sections on-line. A summary table of the full assay results is attached.

David O’Connor, chief geologist of Abraplata, commented: “We continue to obtain substantial oxide gold intercepts which will add to the resources of the deeper gold zone at Oculto, while also intersecting high-grade copper with associated gold in the underlying sulphide mineralization. We plan systematic drilling at these depths to add tonnage and grade to the open-pittable gold and silver resources within the Oculto zone and satellite areas prior to deeper drilling to explore for the source intrusive.”

Native silver mineralization

The company’s geologists have visually identified native silver mineralization at a depth of 228 metres in hole DDH 20-006, which is part of the company’s continuing drilling program. It is very unusual to see native silver in drill core, but where previously identified it represents individual one-metre sample values of in excess of 500 grams per tonne. High-grade silver could be expected in the vuggy silica at this depth, which in hole DDH 20-006 is a part of the deeper gold zone hosted in a hydrothermal breccia intercept over 50 metres thick.

It is noted that hole DDH 19-002, as reported by the company on Jan. 27, 2020, is approximately 50 metres west of DDH 20-006, and obtained 15 metres at 10.4 g/t Au and 285.7 g/t Ag between depths of 242 to 257 metres. Gold and silver grades in hole 20-006 will be confirmed when analyses are received, expected within approximately four weeks.

Strategy for drilling and resource expansion

The phase II drilling program which is currently under way is expected to continue through November, 2020, with one drill rig, and will have a dual focus: drilling for additional high-grade gold and silver mineralization to augment the current oxide resources at the Oculto zone and adjacent areas; and testing for the continuity of underlying copper-gold sulphide mineralization which may be linked to a porphyry intrusive that would have been the source of mineralizing fluids. The company remains well financed to add further drill rigs at the Diablillos project if excellent exploration results continue to be achieved.

About Diablillos

The 80 km 2 Diablillos property is located in the Argentine Puna region – the southern extension of the Altiplano of southern Peru, Bolivia, and northern Chile – and was acquired from SSR Mining Inc. by the Company in 2016. There are several known mineral zones on the Diablillos property, with the Oculto zone being the most advanced with approximately 90,000 metres drilled to date. Oculto is a high-sulphidation epithermal silver-gold deposit derived from remnant hot springs activity following Tertiarty-age local magmatic and volcanic activity. Comparatively nearby examples of high sulphidation epithermal deposits include: El Indio, Chile; Veladero, Argentina; and Pascua Lama, on the Chile-Argentine border.

  Table 2 - 2018 Mineral Resource Estimate for the Oculto Deposit, Diablillos Project
 
 Category Tonnage (000 t)Ag (g/t)Au (g/t)Contained Ag (000 oz Ag)Contained Au (000 oz Au)
Indicated26,900         93.0    0.85    80,300                  732                     
Inferred 1,000          46.8    0.89    1,505                   29                      

Effective August 31, 2017. Full details of the Mineral Resources are available in a Company news release dated March 2, 2018. For additional information please see Technical Report on the Diablillos Project, Salta Province, Argentina, dated April 16, 2018, completed by Roscoe Postle Associates Inc, and available on http://www.SEDAR.com .

QA/QC and Core Sampling Protocols

Abraplata applies industry standard exploration methodologies and techniques, and all drill core samples are collected under the supervision of the Company’s geologists in accordance with industry practices. Drill core is transported from the drill platform to the logging facility where drill data is compared and verified with the core in the trays. Thereafter, it is logged, photographed, and split by diamond saw prior to being sampled. Samples are then bagged, and quality control materials are inserted at regular intervals; these include blanks and certified reference materials as well as duplicate core samples which are collected in order to measure sample representivity. Groups of samples are then placed in large bags which are sealed with numbered tags in order to maintain a chain-of-custody during the transport of the samples from the project site to the laboratory.

All samples are received by the SGS offices in Salta who then dispatch the samples to the SGS preparation facility in San Juan. From there, the prepared samples are sent to the SGS laboratory in Lima, Peru where they are analyzed. All samples are analyzed using a multi-element technique consisting of a four acid digestion followed by ICP/AES detection, and gold is analyzed by 50g Fire Assay with an AAS finish. Silver results greater than 100g/t are reanalyzed using four acid digestion with an ore grade AAS finish.

Qualified Persons

David O’Connor P.Geo., Chief Geologist for Abraplata, is the qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information in this news release.

         
               Drill Result Summary of Holes 
  Drilled in 2019/2020 Phase I Exploration Program  
 
 Drill HoleFrom (m)To (m)Intercept (m)Thickness (m)Ag (g/t)Au (g/t)Cu (%)
DDH 19-001                                                              
          166.0   231.0 65.0         54.20        105     0.20    -     
including 201.0   204.0 3.0          2.50         346     0.30    -     
          302.0   312.0 10.0         8.0          10      0.08    0.86  
          326.0   327.0 1.0          0.83         48      0.93    1.76  
          353.0   354.0 1.0          0.83         15      6.93    0.54  
                                                                        
DDH 19-002                                                              
          56.0    78.0  22.0         18.33        17      2.74    -     
including 57.0    60.0  3.0          2.50         104     2.91    -     
          137.5   155.0 17.5         14.58        604     0.10    -     
          180.0   200.0 20.0         16.67        140     0.03    -     
          242.0   257.0 15.0         12.50        286     10.42   -     
including 250.0   257.0 7.0          5.83         202     20.64   -     
          367.0   376.0 9.0          4.50         49      7.31    1.28  
including 371.0   376.0 5.0          2.50         17      11.27   1.48  
          369.0   400.0 31.0         25.00        25      2.27    1.30  
          438.0   450.0 12.0         6.00         24      0.47    1.60  
                                                                        
DDH 20-001                                                              
          146     160   14.0         11.20        133     0.10    -     
          165     191   26.0         20.80        264     0.03    -     
          261     290   29.0         23.20        430     4.30    2.77  
including 261     275   14.0         11.20        197     6.40    2.53  
including 278     282   15.0         12.00        658     2.35    5.10  
                                                                        
DDH 20-002                                                              
          246     247   1.0          0.8          160     0.12    0.39  
          337     349   12.0         9.6          13      1.14    2.56  
including 342     346   4.0          3.2          22      2.70    2.84  
                                                                        
DDH 20-003                                                              
          70      87    17           13.6         20.6    2.33          
          267     289   22           17.6         25.3    4.22          
including 282     283   1            0.8          60.4    31.17         
          318     321   3            2.4          29.3    2.36          
          346     349   3            2.4          13.4    2.37          
          405     407   2            1.6          28.3    3.34    4.49  
          428     434   6            4.8          -       0.77    1.11  
          446     446.5 0.5          0.4          -       0.52    6.30  

About Abraplata

Abraplata is a mineral exploration company with a diversified portfolio of silver-gold and copper exploration projects in Argentina and Chile. The Company is focused on advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which is well-advanced, with more than US$40 million spent historically on exploration with drilling ongoing and an initial open pit PEA completed in 2018. The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott, Altius Minerals and SSR Mining. In addition, Abraplata owns the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration. Abraplata is listed on the TSX-V under the symbol “ABRA”.

Number of shares:  10,049,096 shares

Purchase price:  95 cents per share

Warrants:  5,024,548 share purchase warrants to purchase 5,024,548 shares

Warrant exercise price:  $1.30 for a two-year period

Number of placees:  65 placees

Agents’ fees:  Red Cloud Securities Inc., $379,849.72 cash and 388,758 broker warrants; Canaccord Genuity Corp., $142,046.23 cash and 149,522 broker warrants; Mackie Research Capital Corp., $56,818.49 cash and 59,809 broker warrants (Each non-transferable broker warrant is exercisable at 95 cents into one unit consisting of one common share and one warrant exercisable into one common share at a price of $1.30 for a period of two years.)

Number of securities:  27,941,173 common shares

Purchase price:  17 cents per common share

Number of placees:  19 placees

Insiders:  Brent Matthew Hornor, 50,000; EBC Consulting Group Ltd. (Joness Lang), 50,000; Friedrich Speidel, 50,000; Gregg Orr, 50,000; Sean Charland, 50,000; Maurice Tagami, 50,000

Finder’s fee:  none

The company has confirmed the closing of the private placement in news releases dated July 31, 2020, and Aug. 10, 2020.

The Company has issued an additional 90,909 units (“Units”) in the final closing. Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.65 per share, for a period of three years from closing, subject to TSX Venture Exchange (“Exchange”) final approval.

The proceeds of the private placement will be used for ongoing drilling of the Castle East Robinson Zone discovery, near the town of Gowganda, Ontario and for general working capital.

All securities issued in connection with the private placement are subject to a four-month and a day hold period in accordance with applicable Canadian Securities Laws.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.

Jeremy Hanson graduated with a B.Sc. Hons with distinction from Simon Fraser University. A professional geoscientist with over a decade of mineral exploration experience throughout Canada, Jeremy began his career with Teck in 2010 on grassroots gold exploration in Ontario. In 2013 he completed a thesis on the GJ porphyry deposit in NW British Columbia with SFU and Teck. Jeremy is the founder and President of Hardline Exploration, a mineral exploration services company in Western Canada. He is a director of the Smithers Exploration Group and VP of Exploration for Garibaldi Resources Corp. where he guides exploration at the Company’s Nickel Mountain E&L discovery. Jeremy has worked with junior, mid-tier and major companies throughout BC, Yukon, Quebec and Ontario and brings a strategic mindset to every project and broad geological knowledge with experience in Ni-Cu, porphyries, epithermal, lode gold and VMS deposits.

Steve Regoci, Garibaldi President and CEO, commented: “From his starting position as senior geologist to his present role as Vice President of Exploration, Jeremy Hanson has exhibited exceptional organizational management skills and above all, critical leadership in all facets of the company’s exploration challenges. Under his direction and supervision, the Company has increased productivity, lowered costs while building an accomplished geological team to advance its significant pipeline of mineral prospects.”

Garibaldi Resources Corp. has accepted the resignation of Mr. Mark Scott, who has recently taken Sassy Resources Corp. public and will now focus his attention on this new opportunity. We wish him well in his endeavors.

Highlights:

Drill hole LE20-54 intersected 9.0m of uranium mineralization (>500 CPS) from 329.5 to 338.5m, including 4.0m of very strong radioactivity (>30,000 CPS) and 0.5m of off-scale radioactivity (>65,000 CPS)

Drill hole LE20-57 intersected 10.0m of uranium mineralization from (>500CPS) from 343.8 to 353.8m, including 2.5m of very strong radioactivity (>40,000 CPS), and 0.5m of off-scale radioactivity (>65,000 CPS)

Note: Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer (RS-125).

Craig Parry, Chief Executive Officer commented: “The major disruptions to primary uranium supply over the last few years, including the recent COVID related mine shutdowns, should continue to affect the uranium price positively in the near-term. This is a terrific time to be reporting strong uranium drilling results, which the Hurricane zone continues to deliver.”

Steve Blower, Vice President of Exploration commented: “Our summer drilling program is off to a great start. Based on scintillometer counts, the first two drill holes from Drill 1 (LE20-54 and 57) are strongly mineralized and will extend the zone of higher-grade uranium mineralization identified in our winter 2020 program. Our Technical team continues to do a terrific job of targeting our drill holes based on the interpreted geology at the Hurricane zone.”

LE20-54 (Drill 1)

Drilled to expand the very strong mineralization intersected in drill hole LE20-32A (8.5m @ 19.6% U3O8) during the winter 2020 drill program, drill hole LE20-54 intersected the sub-Athabasca unconformity target approximately 7.0m north of drill hole LE20-32A (Figures 2 and 3). LE20-54 cored strongly altered Athabasca sandstone before successfully intersecting 9.0m of uranium mineralization that averages greater than 20,000 CPS (RS-125) from 329.5-338.5m. Included in this interval is 4.0m of very strongly radioactive mineralization greater than 30,000 CPS (RS-125). The mineralization is located at the sub-Athabasca unconformity, which was intersected at approximately 337.0m. A core photo showing the mineralized interval is provided in Figure 4.

LE20-57 (Drill 1)

Drilled to expand the very strong mineralization intersected in drill hole LE20-52 (7.5m @ 22.7% U3O8) during the winter 2020 drill program, drill hole LE20-57 intersected the sub-Athabasca unconformity target approximately 5.0m south of drill hole LE20-52 (Figures 2 and 5). Drill hole LE20-57 cored strongly altered Athabasca sandstone before intersecting 10.0m of uranium mineralization that averages greater than 15,000 CPS (RS-125) from 343.8-353.8m. Included in this interval is 2.5m of very strongly radioactive mineralization greater than 40,000 CPS (RS-125). The mineralization is located at the sub-Athabasca unconformity, which was intersected at approximately 349.0m. A core photo showing the mineralized interval is provided in Figure 6.

LE20-55 (Drill 2)

Drill hole LE20-55 was drilled within the 250m along-strike gap on the eastern side of the Hurricane zone (Figure 2). It was designed as an undercutting angled hole drilled purposefully beneath the Hurricane zone to locate the key faults that control mineralization at Hurricane. The drill hole was a success, intersecting all of the important structures, which can now be readily targeted with subsequent drill holes.

LE20-56 (Drill 2)

Similar to drill hole LE20-55, drill hole LE20-56 (Figures 2 and 7) was also drilled as an undercutting angled hole aimed purposefully beneath the Hurricane zone to locate the important faults and graphitic units that control mineralization at Hurricane. The drill hole successfully intersected several prominent faults and graphitic units and was also weakly mineralized over a thick interval. LE20-56 intersected 7.5m of weak uranium mineralization (>500CPS RS-125) from 351.0-358.5m at the sub-Athabasca unconformity (Figure 7).

Next Steps

Drill 1 will remain on the west end of the Hurricane zone, continuing to evaluate the potential to expand the zone of very strong uranium mineralization to the north and south on several of the westernmost cross-sections. Drill 2 will continue to evaluate targets both on the east side of the Hurricane zone, and on the west side. Samples collected from the drilling completed to date have been shipped to the analytical laboratory. Chemical assay results are expected within three to four weeks.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 31 mineral claims totaling 15,878ha that are not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp. and Orano Canada Inc.’s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July 2018 and was followed up with 29 drill holes in 2019 and an additional 14 drill holes to date in 2020. Dimensions are currently 575m along-strike, 40m wide, and up to 11m thick. The zone is open for expansion along-strike to the east and on most sections. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface. The best intersection to date is 33.9% U3O8 over 8.5m in drill hole LE20-34. Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0m in drill hole Q22-040. Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin. Importantly, the sandstone cover on the Property is thin, ranging between 140m and 330m in previous drilling.

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects). Mr. Carmichael has verified the data disclosed. All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer. As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths. This news release refers to properties other than those in which the Company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties. All chemical analyses are completed for the Company by SRC Geoanalytical Laboratories in Saskatoon, SK. For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019, on the Company’s profile at http://www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada. The Company recently discovered the high-grade Hurricane Zone of uranium mineralization on its 100% owned Larocque East property in the Eastern Athabasca Basin. IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations. The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Regulus Resources Inc. begins trading today on OTCQX under the symbol “RGLSF.”  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

John Black, Chief Executive Officer of Regulus, commented as follows: “As Regulus continues to grow, so too does our shareholder base. We are very pleased to be trading on the OTCQX which will increase our visibility and accessibility to our current and prospective U.S. and global shareholders.”

B. Riley FBR acted as the Company’s OTCQX sponsor. B. Riley FBR is the marketing name for B. Riley Securities, Inc., a full-service investment bank and subsidiary of B. Riley Financial, Inc., based in Los Angeles with offices across the United States, providing corporate finance, research, sales and trading services.

About Regulus Resources Inc. and the AntaKori Project

Regulus Resources Inc. is an international mineral exploration company run by an experienced technical and management team. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag (see press release dated March 1, 2019). Mineralization remains open in most directions.

The drill program has intersected 13 mineralized zones including 11 with visible gold occurrences. Critically, the mineralized zones were consistently intersected near the area projected by the geological model.

Selected composited highlights from the drill program include:

• 16.79 grams per tonne gold over 3.0 metres (113.0 to 116.0 metres) in hole BR-20-111;
• 9.78 g/t gold over 5.0 metres (353.0 to 358.0 metres) including 46.86 g/t over 1.0 metre in hole BR-20-114;
• 11.11 g/t gold over 3.7 metres (154.3 to 158.0 metres) in hole BR-20-108;
• 19.39 g/t gold over 1.0 metre (87.0 to 88.0 metres) in hole BR-20-107;
• 23.22 g/t gold over 1.0 metre (97.0 to 98.0 metres) in hole BR-20-109;
• 16.73 g/t gold over 1.0 metre (194.0 to 195.0 metres) in hole BR-20-112;
• 27.46 g/t gold over 1.0 metre (230.0 to 231.0 metres) within a zone grading 2.54 g/t gold over 14.0 metres in hole BR-20-113.

Selected composited highlights from historic drilling in the immediate areas of the drill program include:

• 215.74 g/t gold over 3.65 metres (193.85 to 197.5 metres) in hole OSK-11-04;
• 206.65 g/t gold over 1.5 metres (117.0 to 118.5 metres) in hole OSK-11-02;
• 6.23 g/t gold over 1.5 metres (223.0 to 224.5 metres) in hole OSK-11-04.

“This drill program was initiated as we recognized a significant opportunity to optimize the value of the Goldboro gold project and directly impact and potentially increase the overall value of the project and other key economic metrics. The drill results indicate the presence of mineralization and grade where predicted by the geological model, providing the confidence to upgrade these portions of the deposit. Based on the success of the drill results to date, and in response to other near-term opportunities identified by the ongoing feasibility study, we have initiated a further 9,500 metres of drilling to bring the drill program to 15,000 metres. The goal of the expanded drill program remains the same — to capitalize on identified opportunities to upgrade significant resources proximal to planned development, but with emphasis on near-surface, open-pit resources. These drill results and those anticipated in the next couple of months will be incorporated into an updated mineral resource and used for the final mine design for the feasibility study to be released in Q4 of 2020,” said Kevin Bullock, president and chief executive officer, Anaconda Mining.

The drill program, including the expanded drilling, is financed using existing flow through funds, but has also benefited from a grant received from the government of Nova Scotia through a mineral resources development fund, shared funding exploration grant MRDF-2020-SF-035.

The company has critically considered logistical matters given the continuing COVID-19 pandemic, to ensure that this drill program and any other programs are executed in a way that ensures the absolute health and safety of the company’s personnel, contractors and the communities where the company operates.

       SELECTED COMPOSITE HIGHLIGHTS FROM THE DRILL PROGRAM

Hole ID              From          To        Interval            Au
                      (m)         (m)             (m)         (g/t)

BR-20-105           159.0       161.0             2.0          1.47
including           159.0       160.0             1.0          2.38
BR-20-106           134.0       134.7             0.7          1.42
and                 150.2       150.7             0.5          2.20
and                 162.7       163.5             0.8          1.13
BR-20-107            69.0        70.0             1.0          1.38
and                  87.0        88.0             1.0         19.39
and                  95.0        96.0             1.0          0.94
BR-20-108            97.0        98.0             1.0          1.62
and                 130.0       131.5             1.5          6.19
including           130.0       130.5             0.5         16.77
and                 154.3       158.0             3.7         11.11
including           154.3       155.3             1.0         33.35
and                 155.9       156.7             0.8         26.95
BR-20-109            56.0        57.0             1.0          2.56
and                  97.0        98.0             1.0         23.22
and                 134.0       135.0             1.0          3.07
and                 171.0       172.0             1.0          2.87
and                 217.0       218.0             1.0          1.64
and                 201.0       202.0             1.0          7.41
and                  26.4        28.4             1.0          6.18
BR-20-110           115.9       116.6             0.7          5.17
and                 190.0       191.0             1.0          0.51
BR-20-111            73.0        74.0             1.0          1.85
and                  80.0        81.0             1.0          0.72
and                 113.0       116.0             3.0         16.79
including           113.0       114.0             1.0         49.88
BR-20-112            94.0        95.0             1.0          5.30
and                 194.0       195.0             1.0         16.73
and                 210.0       211.0             1.0          1.50
and                 257.0       258.0             1.0          0.92
and                 267.0       270.0             3.0          3.86
including           268.0       269.0             1.0          9.17
BR-20-113           195.0       197.0             2.0          1.91
and                 202.0       206.0             4.0          3.40
including           202.0       203.0             1.0         11.97
and                 230.0       244.0            14.0          2.54
including           230.0       231.0             1.0         27.46
and                 235.0       236.0             1.0          5.88
BR-20-114            78.0        80.0             2.0          5.01
and                 114.8       115.8             1.0          1.35
and                 326.0       327.0             1.0          2.49
and                 353.0       358.0             5.0          9.78

This news release has been reviewed and approved by Paul McNeill, PGeo, vice-president, exploration, with Anaconda Mining, a qualified person, under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release are collected using quality assurance/quality control protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, Nfld., for Au by fire assay (30 g) with an atomic absorption finish.

Samples analyzing greater than 0.5 g/t Au via 30 g fire assay were reanalyzed at Eastern via total pulp metallic. For the total pulp metallic analysis, the entire sample is crushed to minus-10 mesh and pulverized to 95 per cent minus-150 mesh. The total sample is then weighed and screened to 150 mesh. The plus-150-mesh fraction is fire assayed for Au, and a 30 g subsample of the minus-150-mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Anaconda considers total pulp metallic analysis to be more representative than 30 g fire assay in coarse gold systems such as the Goldboro deposit.

Reported mineralized intervals are measured from core lengths. Intervals are estimated to be approximately 80 to 100 per cent of true widths.

About Anaconda Mining Inc.

Anaconda is a Toronto Stock Exchange- and OTCQX-listed gold mining, development and exploration company focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte mining district of Newfoundland, which includes the fully permitted Pine Cove mill, tailings facility and deepwater port, as well as about 11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond mine at its Tilt Cove gold project. Anaconda is also developing the Goldboro gold project in Nova Scotia, a high-grade resource and the subject of a continuing feasibility study.

A further $1,000,000 will be payable on completion of commissioning of a production plant of any metal commodity on the property. The Company will retain a 3% net smelter return royalty on molybdenum production from the property.

Notwithstanding this transaction, the Company still has a significant working capital deficit and there remains substantial doubt about the Company’s ability to continue as a going concern. If the Company is unable to find an additional source of funding, it will be forced to cease operations and pursue restructuring or liquidation alternatives, including the filing for bankruptcy protection, in which event the Company's common stock would likely become worthless and investors would likely lose their entire investment in the Company. In addition, holders of the Company's outstanding convertible preferred stock and senior notes would likely receive significantly less than the principal amount of their claims and possibly, no recovery at all. As of the date of this news release, the Company has no commitments for additional funding and there can be no assurance that the Company will be successful in obtaining the financing required to complete the Mt. Hope Project, or in raising additional financing in the future on terms acceptable to the Company, or at all.

About General Moly

General Moly is a U.S.-based, molybdenum mineral exploration and development company listed on the NYSE American, recently known as the NYSE MKT and former American Stock Exchange, and the Toronto Stock Exchange under the symbol GMO. The Company's primary asset, an 80% interest in the Mt. Hope Project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. General Moly's goal is to become the largest primary molybdenum producer in the world.

Highlights:

Historical drilling along the new South Basin trend on the southern margins of the regional sedimentary basin has confirmed significant gold mineralization:MSW10-270: Intersected 2.20 metres “m” @ 15.76 grams per tonne “g/t” including 0.60 m @ 39.63 g/t Au MSW10-267: Intersected 7.09 m @ 2.76 g/t Au including 1.00 m @ 6.79 g/t Au MGH18-093: Intersected 3.00 m @ 3.28 g/t Au including 1.00 m @ 7.03 g/t AuMGH18-093A: Intersected 10.00 m @ 2.11 g/t Au including 1.00 m @ 4.46 g/t AuHistorical drilling has confirmed gold mineralized veins over 1.2 kilometre “Km” of strike length, east of South BIF along the South Basin trend

“We are excited to have discovered additional significant gold mineralization results on the South Basin trend from historical drilling,” commented CEO, Gary O’Connor. “We have intersected mineralized gold veins over 1.2 km of strike length on the southern margins of the basin east of the recently recognized favourable BIF A host contact in numerous historical drill holes. The gold occurs south of and as possible extensions of the Westaway/West Block and South West gold deposits. The assay results are from previously un-released assays which have not been used for historical resource estimates. The South Basin represents a new regional trend of prospective ground at the Golden Highway Project where no systematic exploration has been conducted previously. We look forward to exploring the trend further.”

The latest assay results are from ten (10) historical drill holes completed along the South Basin contact, and drill hole MGH20-148 which was drilled at the South BIF target in the recent winter 2019/2020 drill program. MGH20-148 successfully intersected significant mineralization adjacent to an occurrence of the favourable BIF A on the southern margins of the basin (see press release ME PR 09-2020 dated May 21, 2020; Drilling intersected 3.50 m @ 8.09 g/t Au, including 0.55 m @ 30.40 g/t Au). This prompted a review of the 10 historical drill holes which had tested the newly recognized trend. The drill assay intercepts from historical holes were not previously included in any historical resource estimate and represent a new mineralized trend.

South Basin Drill Results

The ten (10) historical drill holes reviewed were drilled over more than 1.2 km of strike length along the southern contact of the Timiskaming sedimentary basin primarily to test the depth extensions of the South West deposit located to the north. The newly recognized gold mineralization was intersected at shallower depths near the southern contact of the basin with the Lower Blake River mafic volcanic unit. The gold assay results intersected along the South Basin contact have not been included in any historical resource estimate and are now recognized to be new mineralized zones located in the same geological setting as the gold mineralization intersected recently in drill hole MGH20-148.

South Basin: Selected Significant Drill Results
Hole    From   To  Length Au  
    #      (m)   (m)   (m)  (g/t)
MGH13-078 94.00 105.7011.70 1.79*
   and    102.50105.70 3.20 3.40 
MGH17-077 610.00611.00 1.00 5.29 
MGH18-093 168.00173.00 5.00 2.08 
 includes 172.04173.00 0.96 4.08 
MGH18-093 251.00254.00 3.00 3.28 
 includes 251.00252.00 1.00 7.03 
MGH18-093A151.75154.00 2.25 2.08 
MGH18-093A164.00174.0010.00 2.11 
 includes 170.85174.00 3.15 3.24 
 includes 172.00173.00 1.00 4.46 
MGH18-094 168.00171.50 3.50 2.11 
MGH20-148 378.50382.00 3.50 8.09 
 includes 379.00382.00 3.00 9.22 
   and    380.35380.90 0.55 30.40
MGH20-148 446.45448.60 2.15 2.66 
 includes 446.45446.90 0.45 4.72 
MSW10-267 284.90285.32 0.42 3.22 
MSW10-267 453.54460.63 7.09 2.76 
 includes 456.00460.63 4.63 3.53 
 includes 456.60457.60 1.00 6.79 
MSW10-268 581.00583.60 2.60 2.56 
 includes 582.80583.60 0.80 5.60 
MSW10-268 764.75765.10 0.35 13.10
MSW10-270 204.00206.20 2.20 15.76
 includes 204.40205.60 1.20 25.97
 includes 205.00205.60 0.60 39.63
MSW11-279 175.80176.30 0.50 6.00 
MSW11-285 117.25118.70 1.45 4.68 

Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), a maximum of 2m internal dilution and no top cap applied. All intercepts are reported as drill widths and estimated to be 50% to 95% of true width.

Drill hole MGH20-148 was drilled to test a section of the favourable coarse grain sandstone host located adjacent to a newly recognized occurrence of the regional BIF A unit intersected in historical hole M87-66. MGH20-148 intersected up to 3.50 m @ 8.09 g/t Au, including 3.00 m @ 9.22 g/t Au, including 0.55 m @ 30.40 g/t Au confirming well mineralized veining in an area not previously recognized as having significant gold potential. The ten (10) historical holes which tested the area close to the south contact of the basin also intersected significant gold intersections (Table 1). The south basin contact is 12 km long on the Golden Highway Project and has only been subjected to drilling over a 1.2 km strike length to date.

Other significant intercepts from historical drilling included 2.20 m @ 15.76 g/t Au including 1.20 m @ 25.97 g/t Au including 0.60 m @ 39.63 g/t Au from drill hole MSW10-270, and 3.00 m @ 3.28 g/t Au including 1.00 m @ 7.03 g/t Au from drill hole MGH18-093. Drill hole MSW10-267 intersected 7.09 m @ 2.76 g/t Au including 1.00 m @ 6.79 g/t Au, and MGH17-093A intersected 10.00m @ 2.11 g/t Au including 1. 00 m @ 4.46 g/t Au. Drill hole MGH13-078 intersected 11.70 m @ 1.79 g/t Au including 3.20 m @ 3.40 g/t Au.Figure 1: South Basin Location Map- Golden Highway Project To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4852/63143_051a364174218994_002full.jpgFigure 2 : South Basin: Drill Location MapTo view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/4852/63143_051a364174218994_003full.jpg

South Basin Trend

The South Basin trend is located along the southern margins of the regional Timiskaming sedimentary basin where a repeat occurrence of the prospective coarse sandstone sediment located adjacent to the BIF A unit has recently been discovered. The majority of Moneta’s current mineral resources are hosted on the north limb of this regional syncline to the north. The geological setting is similar to the South West deposit located to the north (Figure 1) and mineralization is seen to occur as a series of mineralized vein structures. The gold mineralized quartz-pyrite veins within the South Basin trend are associated with ankerite-sericite-silica-pyrite alteration haloes. The zones occur as steeply west dipping WNW-ESE oriented mineralized structures as per the main mineralization at South West and Westaway/West Block. The southern basin margin has not been systematically explored historically and represents a major new regional prospective trend. Figure 3: South Basin: Schematic Geologic Long Section To view an enhanced version of Figure 3, please visit:https://orders.newsfilecorp.com/files/4852/63143_051a364174218994_004full.jpg

QA/QC Procedures

All core drilling conducted by Moneta is oriented. Drill core is cut with half sent to AGAT Laboratories Inc. (AGAT) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 microm (200#). AGAT is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Activation Laboratories Ltd. Kevin Montgomery, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.

About Moneta

The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current 43-101 mineral resource estimate comprised of an indicated resource of 556,500 ounces gold contained within 3.82 Mt @ 4.53 g/t Au and a total of 1,174,000 ounces gold contained within 8.47 Mt @ 4.31 g/t Au in the inferred category at a 3.00 g/t Au cut-off. A preliminary economic assessment on the South West deposit located within the Golden Highway Project commenced in Q1, 2020. The results of the PEA are due to be delivered this quarter. The study will review several development scenarios for the South West deposit which was the subject of a resource update in November 2019.

• Gold and silver values from rock samples range from 0.5 to 26.2 g/t gold and 2.1 to 256 g/t silver;
• Highest grade sample of 26.2 g/t gold is from newly discovered zone within the northern half of a 13 km2 central area;
• Phase 1 samples are from the central core alteration zone which lies along a structural axis through the central portion of the property;
• Anomalous samples cluster into three main areas from six to 13 km2 and totaling 26 km2;
• The southernmost area includes several old mine workings and rock samples from some of these workings ranged from 12.4 to 18.3 g/t gold and 95.4 to 231 g/t silver over widths of 1.5 to 2.0 meters

The Company expects to receive assays from an additional batch of rock samples by mid month. The exploration team returned to the property on August 28 to start the phase 2 detailed follow up sampling and trenching program on an expedited basis.

Map 1

To view an enhanced version of Map 1, please visit:
https://orders.newsfilecorp.com/files/5962/63144_5df5b4a574fe4965_001full.jpg

Steve Cochrane, President and CEO of Lithium Chile, comments, “We are extremely pleased from the initial sample results from our Carmona gold/silver prospect. These early samples confirm the potential for Carmona to host a number of gold/silver deposits. We now have an expanded exploration program on the property underway and look forward to additional results soon. With the high level of interest in gold these days and indeed Lithium Chile’s gold properties, it is our intention to advance exploration development on these prospects as quickly as possible.”

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo, qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release.During the course of the exploration program all samples were collected by experienced Lithium Chile staff. Each sediment was sieved in the field to obtain about I kg of -18 mesh fines, bagged and sealed on site. Each rock sample consisted of 1 -1.5 kg of representative chips taken continuously from outcrop or across mineralized structures, was bagged and sealed on site. All samples were delivered by Lithium Chiles staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped a 30g sub-sample pulp to their laboratory in Lima, Peru where they were analyzed for gold by fire assay pre-concentration, AA finish and 35 other elements, including copper and silver, by the ICP technique following Agua Regia digestion.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections of 11 salars and two laguna complexes in Chile.

Lithium Chile now also owns 5 properties that are prospective for gold, silver and copper. The Carmona and La Fortuna properties lie in the heart of the Chilean Maricunga gold belt.

Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-BB under the symbol “LTMCF“.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@goldenrock.cl.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

NOT FOR RELEASE IN THE UNITED STATES OF AMERICA

Forward Looking Statements

This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. In particular, this news release contains forward-looking statements relating to, among other things, the closing of the second tranche of the private placement, statements pertaining to the use of proceeds, and the Company’s ability to obtain necessary approvals from the TSX Venture Exchange.

You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include, but are not limited to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the results from such prospects. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

• Funding, permits and drill targets are in place following an oversubscribed $5.33 million raising to accelerate ongoing drilling at the Trundle project aimed to discover an economic copper-gold porphyry and/or skarn deposit(s) in a highly prospective brownfields setting
• Kincora drill holes TRDD002, TRDD005 and TRDD006 provide further encouragement for the discovery of an economic copper-gold porphyry deposit within the known northern porphyry system at the Mordialloc prospect
• Access is in place to commence high priority follow up drill holes to expand high-grade near surface skarn gold-copper intervals and to confirm an underlying gold-copper porphyry system at the southern Trundle Park prospect

VANCOUVER, BC, Sept. 3, 2020 /CNW/ – Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV: KCC) is pleased to provide an exploration update following the recent successful equity placement and site visit review  by senior team members. The Company has obtained permits for a further 17 drill holes and has renewed landowner access agreements. Kincora also reports further drilling encouragement at the Mordialloc prospect in our search for the high-grade core of a porphyry copper-gold system at the Trundle brownfields project located in the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia. 

John Holliday, Technical Committee chair, and Peter Leaman, Senior VP of Exploration, commented: “Drilling at the Mordialloc prospect is continuing to provide significant indications of being in close proximity to a high-grade part of the porphyry system.

Kincora’s third hole at Mordialloc is currently drilling, intersecting intense propylitic alteration with some veined zones hosting chalcopyrite mineralization.  This further confirms our view that the Mordialloc prospect of the Trundle project has the potential for the discovery of an economic gold rich copper porphyry deposit.

With access re-established after the local lambing season, the team is very excited to shortly resume drilling at the Trundle Park prospect located in the southern part of Trundle. An extensive drilling program is planned to follow up the near surface skarn system potential and to continue testing for a causative underlying mineralized porphyry copper-gold deposit, suggested by favourable results in our first drill hole.

The recent capital raising provides funding to continue the systematic drill focused exploration programs at both Mordialloc and Trundle Park. With new permits in place for a further 17 holes across the Trundle project and a good working relationship with the landowners and local stakeholders, the Company is well placed to significantly advance our exploration targets in the upcoming months.”

Figure 1: Trundle is the only brownfield porphyry project held by a listed junior in the Macquarie Arc, Australia’s foremost and gold rich porphyry belt
Trundle is the western section of the Northparkes intrusive complex, that hosts the second largest porphyry mine in Australia, with initial Kincora drilling taking place at targets 8.5km apart

Figure 2: Initial and significantly expanded drilling program at Trundle

Figure 3: Favourable and untested end-of-hole geochemistry and geophysics support large target zones that offer the potential for new clusters of mineralized porphyry related deposits
Surface and end-of-hole geochemical anomalies over MVA magnetics at the northern Mordialloc and southern Trundle Park prospect areas

The Mordialloc prospect

As previously announced, assay results from Kincora’s first hole (TRDD002) at the Mordialloc target confirmed historical drilling results and returned metal grades comparable to the distal zones of the Northparkes and Cadia-Ridgeway porphyry deposits within inner- to outer propylitic style hydrothermal alteration – see July 23^rd, 2020 press release for further details.  

These results together with previously untested industry-leading “Typhoon” induced polarization (IP) and magnetic surveys completed by previous explorer High Powered Exploration (HPX), and anomalous and increasing copper, gold and molybdenum grades towards the end of CTD006 (hole ending at 524 metres) encouraged Kincora to step out approximately 150 metres south of TRDD002 with drill hole TRDD005 (the second Kincora hole at the Mordialloc target).

TRDD005 was drilled to 958 metres and returned multiple broad zones of anomalous copper, gold and molybdenum, including localized moderate to higher grade intervals. A summary of anomalous assay results and notable intervals is shown in Table 4.

Significantly, a relatively shallow previously unidentified skarn was also intersected in TRDD005 (including 12m at 0.33g/t Au and 0.29% Cu from 138m, including 2m at 1.4g/t Au and 1% Cu from 142m). While returning anomalous and encouraging mineralization and alteration, the drill hole is interpreted to have been drilled to the east away from the targeted mineralized quartz monzonite porphyry complex – see Figure 4.

The favorable higher-grade results from TRDD005, coupled with significant grades from prior drill hole CTD006 (44 metres @ 0.15% Cu, 0.12g/t Au, 41ppm Mo) encouraged Kincora to drill TRDD006 to the west. Propylitic alteration and surface mineralization have also been identified at surface in this area, and rock chip samples were collected and are currently being assayed. Together with the results from TRDD005 and TRDD006, this supports the concept of multiple mineralizing positions, phases of intrusions, with the potential for the discovery of a near surface finger porphyry deposit.

Drill hole TRDD006 is ongoing at 727 meters depth with encouraging alteration and visual sulphides (including chalcopyrite) having been intersected, supporting the concept of close proximity to a potassic and higher grade core of the targeted system.

The first drill hole at the Mordialloc target (TRDD002) is proposed to be reopened and extended as interpretation of the alteration and assay results suggest these may represent the halo of a mineralized porphyry intrusion system.

Further drilling in addition to the ongoing TRDD006 and the extension of TRDD002 is proposed to aggressively test the targeted finger porphyry setting and potential clustering of associated mineralized systems across a significant strike where anomalous surface and end of hole geochemistry, and geophysics are complementary – see Figure 3.  Similar vectoring from drill hole alteration indicators was the exploration approach that was the key to the discovery of Cadia-Ridgeway, the majority of the Northparkes deposits and also Alkane Resource’s recent discovery at Boda.

Figure 4: Cross section of current drilling at the Mordialloc target 
Alteration and mineralisation returned in TRDD006, TRDD005 and CTD006 provide strong encouragement for close proximately for the targeted high-grade potassic core of a Macquarie Arc “finger” or “pencil” porphyry target

The Trundle Park prospect

Kincora is excited to shortly resume drilling at the southern Trundle Park target following the completion of TRDD006, and the end of seasonal lambing and the provision of updated permits and landholder access agreements.

The Company’s first drill hole (TRDD001) intersected multiple significantly mineralized skarn zones including 51 metres @ 1.17 g/t gold and 0.54% copper from 39 metres and 18 metres @ 0.53 g/t gold and 0.05% copper from 284 metres. TRDD001 also intersected broad anomalous mineralization (including 21.1m @ 0.25 g/t Au and 0.03% Cu from 664m to end of hole) in the outer zone of the targeted adjacent porphyry intrusion system – see July 6^th, 2020 press release for further details.

Kincora’s second follow up drill hole (TRDD004) was drilled 269 metres to the west of TRDD001, a considerable step out, and was completed to 694 metres targeting a blind finger porphyry and not targeting the previously intersected high-grade skarn mineralization in TRDD001.  TRDD004 did not intersect any skarn alteration and is interpreted to have intersected volcanics intruded by monzodiorite and monzonite across a fault block with minor potassic alteration at the bottom of the hole – anomalous results presented in Table 3. Such a fault setting is not uncommon in other Ordovician age porphyry systems in the Macquarie Arc and TRDD004 has assisted understanding of the fault blocks and potential preservation levels within the Trundle Park target.

With unencumbered access high priority drilling at Trundle Park will initially test the northern and southern strike of alteration and mineralization intersected in TRDD001 within the same interpreted fault block – see Figure 1. These holes will seek to test both the standalone near surface gold rich skarn and underlying finger porphyry potential at the Trundle Park target. 

The Bayley’s prospect

Drill hole TRDD003 was completed to 721.5 metres at the Bayley’s target confirming an interpreted fertile porphyry setting with zones of anomalous mineralization within the targeted quartz monzonite porphyry – see Table 2.

Further potential remains within the Bayley’s target zone, with drilling proposed in the second stage of the ongoing drilling program seeking to test the standalone potential for a finger porphyry within the larger northern Mordialloc intrusive complex. However, due to encouraging results with TRDD002 and TRDD005, combined with access (lambing) and permit constraints a second hole up hole was not completed during phase 1 of Kincora’s maiden drilling program.

Table 1: Trundle project – Collar Information

Target	Hole#	Length (m)	Dip  (°)	Azimuth (°)	RL	Easting (MGA)	Northing (MGA)	Core recovery
Trundle Park	TRDD001	685	60	251	270	570049	6352082	95.9%
Mordialloc	TRDD002	790	60	101	271	568443	6360363	98.2%
Bayleys	TRDD003	721	60	329	274	569230	6360641	99.5%
Trundle Park	TRDD004	694	55	264	271	569780	6352079	99.6%
Mordialloc	TRDD005	958	60	110	266	568439	6360204	97.3%
*Mordiall0c	TRDD006	727	70	275	270	568598	6360208
* hole in progress

Table 2: Bayleys target hole TRDD003 – Anomalous results¹

Hole ID	From (m)	To (m)	Interval (m)		Au (g/t)	Cu (%)	Mo (ppm)	Dilution (%)
TRDD003	164.0	166.0	2.0		0.01	0.08	1.00	0%
and	207.2	209.0	1.8		0.01	0.17	4.00	0%
and	338.0	340.0	2.0		0.12	0.01	0.00	0%
and	373.4	375.0	1.6		0.14	0.37	1.00	0%
and	505.0	509.0	4.0		0.00	0.17	1.00	0%

Table 3: Trundle Park target hole TRDD004 – Anomalous results¹

Hole ID	From (m)	To (m)	Interval (m)		Au (g/t)	Cu (%)	Mo (ppm)	Dilution (%)
TRDD004	332.0	336.0	4.0		0.35	0.01	0.00	0%
and	340.0	342.0	2.0		0.13	0.01	0.00	0%
and	394.0	396.0	2.0		0.27	0.02	1.00	0%
and	434.0	436.0	2.0		0.11	0.01	2.00	0%
and	508.0	512.0	4.0		0.16	0.01	2.00	0%
and	518.0	520.0	2.0		0.42	0.00	3.00	0%
and	578.0	582.0	4.0		0.14	0.01	3.50	0%
and	642.0	646.0	4.0		0.23	0.02	4.00	0%

Table 4: Mordialloc target hole TRDD005 – Anomalous results¹

Hole ID	From (m)	To (m)	Interval (m)		Au (g/t)	Cu (%)	Mo (ppm)	Dilution (%)
TRDD005	24.0	54.0	30.0		0.10	0.08	10.47	27%
including	36.0	40.0	4.0		0.29	0.14	10.50	0%
and	138.0	150.0	12.0		0.33	0.29	35.00	0%
including	142.0	146.0	4.0		0.81	0.67	91.50	0%
including	142.0	144.0	2.0		1.41	1.02	176.00	0%
and	184.0	188.0	4.0		0.11	0.18	18.50	0%
and	228.0	254.0	26.0		0.07	0.16	24.92	0%
including	242.0	246.0	4.0		0.12	0.26	39.00	0%
and	270.0	288.0	18.0		0.08	0.18	43.00	0%
and	596.0	600.0	4.0		0.12	0.22	0.50	0%
and	632.0	644.0	12.0		0.66	0.14	4.00	17%
including	634.0	636.0	2.0		3.36	0.14	4.00	0%
including	638.0	640.0	2.0		0.11	0.15	1.00	0%
and	682.0	684.0	2.0		0.11	0.66	1.00	0%
and	690.0	692.0	2.0		1.17	0.01	1.00	0%
and	736.0	748.0	12.0		0.15	0.07	6.67	33%
and	770.0	772.0	2.0		0.08	0.12	4.00	0%
and	782.0	806.0	24.0		0.25	0.08	2.42	33%
including	782.0	790.0	8.0		0.64	0.06	2.50	0%
and	876.0	886.0	10.0		0.14	0.94	13.60	0%
including	880.0	884.0	4.0		0.27	2.14	27.00	0%

1- Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively. Internal dilution is below cut off.

The Trundle project

Kincora’s Trundle project is the only brownfield porphyry copper-gold project held by a listed junior in Australia’s foremost porphyry belt, within the same mineralized complex as Australia’s second largest porphyry mine. Trundle is located west of the China Molybdenum Company Limited (CMOC) operated Northparkes copper-gold mine/mill operation, within the same Northparkes Igneous Complex.

Previous explorer drilling has been extensive at Trundle with the completion of 2208 holes for 61,146 metres, but deeper drilling utilising modern exploration knowledge has been very limited. Over 92% of prior drilling has been completed to less than 50 metres depth and is considered to be too shallow, with just 11 holes beyond 300 metres (0.5% of holes drilled).

Following positive initial drilling results from Kincora’s maiden drilling program in August 2020, the Company completed an oversubscribed $5.33 million equity raising, with proceeds primarily to be used to expand the initial six hole program to over twenty drill holes with an additional 11,000 metres of drilling. Kincora’s primary targets, Mordialloc and Trundle Park, lie 8.5km apart and have not been drill tested since the industry leading HPX proprietary Typhoon IP system and detailed magnetic surveys  were completed.

Highlighted background information

August 26^th, 2020: Kincora Oversubscribed Offering to Accelerate Drilling at Trundle
https://www.kincoracopper.com/media/downloads/presentations/corporate-presentation-8-5-2020.pdf

August 4^th, 2020: Corporate presentation:
https://www.kincoracopper.com/media/downloads/presentations/corporate-presentation-8-5-2020.pdf

July 17^th, 2020: replay of the Noosa Mining Virtual conference investor presentation (free registration):
https://zoom.us/rec/share/w-0vJpXM325IH6vR-FrCVqMdMJ-1X6a8hnRLqKUKmkodOJ2ktI9A8UxkEHiakiNU

June 19^th, 2020: John Holliday – Cadia Discovery History Talk via GeoHug
https://www.youtube.com/watch?feature=youtu.be&v=ccncxhH549M&app=desktop   

June 9^th, 2020: RRS Special Event: Investor Webinar featuring Kincora Copper (TSX.V: KCC) and RareX Limited (ASX: REE)
https://www.youtube.com/watch?v=KSW2weEg6lc&feature=youtu.be

April 7^th, 2020: Richard Schodde and John Holliday video interview of the Lachlan Fold Belt
www.theassay.com/the-assay-tv/the-assay-tv-richard-schodde-john-holliday-kincora-copper/?dm_t=0,0,0,0,0

March 18^th, 2020: Press release: Kincora closes agreement with RareX
https://www.kincoracopper.com/news/press-releases/18-2020/98-kincora-closes-agreement-with-rarex

January 30^th, 2020: Press release: Kincora grows a district scale landholding in the Lachlan Fold Belt
https://www.kincoracopper.com/news/press-releases/18-2020/90-kincora-grows-a-district-scale-landholding-in-the-lachlan-fold-belt

QA/QC Procedures
Sampling and QA/QC procedures are carried out by Kincora Copper Limited, and its contractors, using the Company’s protocols as per industry best practise.

All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW, Australia. In addition to internal checks by AS, the Company incorporates a QA/QC sample protocol utilizing prepared standards and blanks for 5% of all assayed samples.

Diamond drilling was undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of our field geologists. All drill core was logged to best industry standard by well-trained geologists and Kincora’s drill core sampling protocol consisted a collection of samples over mineralized sections of the logged core.

Sample interval selection was based on geological controls or mineralization, and/or guidance from the Technical Committee provided subsequent to daily drill and logging reports. Sample intervals reflect geological boundaries, are cut by the Company and samples prepared in line with these geological boundaries, and delivered to ALS.

All reported assay results are performed by ALS and widths reported are drill core lengths. There is insufficient drilling data to date to demonstrate continuity of mineralised domains and determine the relationship between mineralization widths and intercept lengths, true widths are not known. The following assay techniques have been adopted:

• Gold: Au-AA24 (Fire assay), reported.
• Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements), the latter report for TRDD001 and former reported for holes TRDD002- TRDD005.
• Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has been assayed, but not reported.
• Assay results >10g/t gold and/or 1% copper are re-assayed.

Qualified Person
The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s geological staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Technical Committee Chairman, who are the Qualified Persons for the purpose of NI 43-101.

The review and verification process for the information disclosed herein for the Trundle project has included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

About Kincora Copper Limited
(KCC – TSXV)
Kincora is an active junior and systematic explorer seeking to make a major discovery in Mongolia, the Lachlan Fold Belt in Australia and other prospective complementary jurisdictions. 

Our technical team is credited with multiple discoveries of Tier 1 copper assets. In 3Q’19, Kincora made the strategic decision to opportunistically pursue entry into the Macquarie Arc, in Central West of NSW. This is Australia’s foremost porphyry belt, home to the giant Cadia, Northparkes mines and recent Boda discovery by Alkane Resources.

The Macquarie Arc is synergistic in line with Kincora’s core focus. It offers: the same scale of target (world-class); the same commodity mix (copper-gold or gold-copper); the same mineralized setting (porphyry and/or epithermal gold); supports a similar systematic exploration approach/exploration methods; and, is a region where the team has had significant exploration success.

Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

A Message from Ivan Bebek, Executive Chairman & Director of Auryn:

"We view Sombrero as a district-scale exploration opportunity and are pleased to exercise the Alturas option agreement with a discount to the final payment.

"Cleaning up our ownership will streamline the process of obtaining the remaining permits needed for drilling, which we anticipate in the first quarter of 2021.

"We are also working toward permitting the Nioc and Good Lucky targets within the Sombrero district to create a pipeline of drill-ready targets that can be advanced consecutively, avoiding further work delays due to permitting. Results from ongoing surface work programs and updates on permitting advancements can be expected in September and October."

Image: https://www.accesswire.com/users/newswire/images/604538/AURYN1.jpgFigure 1: Illustrates the location of the Alturas concessions on the Sombrero North property in relation to Auryn’s exploration targets.

About the Sombrero Project:

The Sombrero property is located in southern Peru, approximately 345 kilometers southeast of Lima. It comprises over 130,000 hectares of which the Alturas option was 4,600 ha. Auryn believes Sombrero is hosted within a northwestern extension of the Andahualylas-Yauri copper-gold porphyry and skarn belt, which hosts the Las Bambas, Haquira, Los Chancas, Cotambambas, Constancia, Antapaccay and Tintaya deposits.

Michael Henrichsen P. Geol. is the Qualified person who has reviewed the technical contents of this news release.