Metals Update 10/9/2020

Moneta’s Golden Highway PEA pegs posttax NPV at $236M

Moneta Porcupine Mines Inc. has released the excellent results from the company’s preliminary economic assessment (PEA) of the South West deposit at its 100-per-cent-owned Golden Highway project, located in Timmins, Ont. The PEA study demonstrates robust economics and is based on a stand-alone, owner-operated mine and mill with an 11-year mine life which produced an after-tax Net Present Value (“NPV”) of C$236 million using a 5% discount rate. The financial model shows an after-tax Internal Rate of Return (“IRR”) of 30% and a capital payback period of 3.4 years. All amounts are shown in Canadian dollars unless otherwise stated.

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Maple Gold recaps H1 2020 drilling at Douay

Maple Gold Mines Ltd. has provided a recap of its exploration programs during the first half of 2020 and an outlook on exploration work planned at its Douay gold project in Northern Quebec, Canada.

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Almaden waits for SEMARNAT’s response re court decision

The second district court in Puebla has issued a decision in respect of the incident filed by Almaden Minerals Ltd.’s Mexican subsidiary on Feb. 4, 2020.

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Dynacor Gold to pay 1.5-cent dividend Oct. 5

Dynacor Gold Mines Inc. has declared a dividend payment of 1.5 cents per common share, which will be payable on Oct. 5, 2020, to shareholders of record as of the close of business on Sept. 18, 2020. This dividend represents the 9th quarterly dividend payment made to shareholders.

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Enviroleach receives processing test results

Enviroleach Technologies Inc. has provided the following corporate update regarding its electronic waste and mining business initiatives.

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Altus Strategies’ Grainger acquires 29,000 shares

Altus Strategies PLC was informed on Sept. 9, 2020, of the following director share dealings:

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HPQ-Silicon Resources does not say why stock is down

HPQ-Silicon Resources Inc. is issuing this press release in response to recent market activity. HPQ-Silicon does not usually comment on stock price and trading activity; however, given recent activity and inquiries from investors, the company would like to confirm that everything material about the company’s operations has been disclosed and that HPQ-Silicon is on target to produce its strongly sought-after nanosilicon powders and nanowires for delivery and testing to battery industry parties in December.

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Frontier Lithium begins PEA study for PAK

Frontier Lithium Inc. has commenced a preliminary economic assessment study (PEA) of vertically integrated operations to produce lithium hydroxide chemicals from the PAK lithium project. This study will demonstrate the Project’s full potential by leveraging its high quality, low impurity resource to produce premium spodumene concentrates and to introduce Frontier as a future fully-integrated, lithium hydroxide supplier to the emerging electric vehicle and lithium battery market.

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Southern Silver shareholders elect 8 directors at AGM

The following directors were re-elected at Southern Silver Exploration Corp.’s annual general meeting held on Sept. 4, 2020: Lawrence Page, Q.C., D. Roger Scammell, Eugene Spiering, Nigel Bunting, Larry Buchanan, Peter Cheesbrough, Gina Jones and Donald Head. In addition, the shareholders re-appointed Smythe LLP, Chartered Accountants, as auditor of Southern Silver and approved Southern Silver’s rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The plan is subject to TSX Venture Exchange acceptance.

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Mountain Province shareholders elect seven directors

The nominees listed in the management proxy circular for the 2020 annual general and special meeting of shareholders have been elected as directors of Mountain Province Diamonds Inc. Detailed results of the vote for the election of directors at the annual meeting held virtually on Sept. 9, 2020, are set out in the attached table.

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Excellon completes share consolidation

Excellon Resources Inc.’s consolidation, completed in connection with the company’s planned listing on the New York Stock Exchange and as described in its Sept. 8, 2020, press release, is now effective.

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Millrock drills 1.19 m of 0.76 g/t Au at 64North

Millrock Resources Inc. has provided an update on drilling and other exploration activities at its 64North gold project. Exploration work is being funded and managed by Resolution Minerals in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District. Drilling has been ongoing since early June and continues at present.

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Brixton Metals samples up to 36.9 g/t Au at Thorn

Brixton Metals Corp. has provided an update on its newly expanded now 2,600-square-kilometre mineral tenure Thorn gold-copper-silver project, located in the Golden Triangle of northwestern British Columbia.

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Allegiant to Commence 15,000 Metre Drill Program at Eastside

RENO, Nev., Sept. 10, 2020 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce that a 15,000 metre, 80 hole drill program is scheduled to commence at the 100% owned Eastside gold project in Nevada on or about September 15th, 2020.

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