Metals Update 24/9/2020

Blue Lagoon retracts Dome Mountain PEA

As a result of a review by the British Columbia Securities Commission, Blue Lagoon Resources Inc. is issuing the following news release to clarify its technical disclosure with respect to the independently prepared technical report titled “Preliminary Economic Assessment Dome Mountain Mine British Columbia, Canada,” dated July 13, 2020.

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Troilus Gold begins 20,000 m of drilling at Troilus

Troilus Gold Corp. has initiated a new 20,000-metre drill program at its 100-per-cent-owned Troilus property located near Chibougamau, within the Frotet-Evans greenstone belt in Quebec, Canada. The program will be completed through the remainder of 2020 with the objective being to upgrade current mineral resource estimates and continue the expansion and exploration of mineralization across the Troilus property, following the discovery of the Southwest zone (SWZ) earlier this year. All figures reported in U.S. dollars unless stated otherwise.

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Altus Strategies qualifies to trade on OTCQX Best

Altus Strategies PLC has qualified to trade on the OTCQX Best Market. Altus Strategies upgraded to OTCQX from the Pink market.

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Canada Nickel begins surveys at Noble properties

Detailed airborne magnetic and gravity surveys, similar to what was successfully utilized at Canada Nickel Company Inc.’s flagship Crawford nickel-cobalt sulphide project, began this week on its option properties which were acquired earlier this year with earn-in agreements with Noble Mineral Exploration.

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Excellon to begin trading on NYSE American today

Excellon Resources Inc.’s common shares will commence trading on the NYSE American LLC as of market open today under the ticker symbol EXN. Excellon’s common shares will continue to trade on the Toronto Stock Exchange under the ticker symbol EXN.

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Evergold closes $1.28M first tranche of placement

Japan Gold acquires Kanehana

Japan Gold Corp. has acquired the Kanehana project through the acceptance of 40 new prospecting rights applications by the Japanese Ministry of Economy, Trade and Industry (METI). The new 12,431-hectare project adjoins the west side of Japan Gold’s Ikutahara project and covers seven historic gold mines and workings.

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Amarillo Gold to hold AGM Oct. 1

Amarillo Gold Corp. will hold its 2020 annual meeting in a virtual-only format, as set out in its 2020 information circular. The annual and special meeting of shareholders will be held on Thursday, Oct. 1, 2020, at 10 a.m. Eastern Time.

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Hudson Resources closes debt restructuring

Further to its news releases of June 11, 2020, and Aug. 4, 2020, Hudson Resources Inc. has closed its debt restructuring transaction with its existing lenders, Cordiant Capital Inc. and its affiliates and Romeo Fund Flexi and its affiliates, after receiving shareholder approval and approval from the government of Greenland.

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Nighthawk Gold appoints Tremblay as director

Nighthawk Gold Corp. has appointed Eric Tremblay to the board of directors of Nighthawk. As well, Mr. Tremblay has agreed to act as a technical consultant to the company on an as-needed basis.

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Blue Lagoon begins amending Dome Mountain permit

Blue Lagoon Resources Inc., in addition to its continuing current drill program, has started work on the amendments required pursuant to its mining permit on its Dome Mountain gold project.

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Aquila Resources shareholders elect 6 directors at AGM

The six nominees listed in the management information circular for Aquila Resources Inc.’s 2020 annual meeting of shareholders held earlier on Sept. 23, 2020, were elected as directors of Aquila. A total of 261,958,642 shares were represented at the meeting, representing 77.375 per cent of Aquila’s issued and outstanding common shares. The detailed results of the vote for the election of directors are set out in the attached table.

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Roscan Gold grants options to buy 5.5 M shares

Roscan Gold Corp. has granted 5.5 million options to purchase common shares of the company exercisable at a price of 37 cents per common share and expiring on Sept. 23, 2025, to certain officers of the company. Of the options, 1.5 million vest immediately, with the balance of four million options vesting upon the achievement of performance-based criteria which are as follows:

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Canada Nickel Company 682,500-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Aug. 11, 2020, and Sept. 8, 2020.

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Frontier Lithium appoints Letwin to board

Frontier Lithium Inc., effective immediately, has appointed Stephen J.J. Letwin to its board of directors.

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Golden Predator closes $1.7-million financing

Golden Predator Mining Corp. has completed its previously announced private placement for 4.25 million flow-through shares at a price of 40 cents per share for gross proceeds of $1.7-million.

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Arizona Metals drills 39.9 m of 3.4% CuEq at Kay

All four recently completed holes at Arizona Metals Corp.’s Kay mine project in Yavapai county, Arizona, intersected massive sulphide mineralization, both updip and downdip of the hinge zone intersection announced in August, 2020, in which hole KM-20-13 intersected a broad interval of 43.1 metres at a grade of 3.9 per cent copper equivalent, including 15.2 m grading 6.7 per cent CuEq.

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Ynvisible, Agiler partner on smart label tech

Ynvisible Interactive Inc. has partnered with Agiler Oy, a Finnish high tech company, to prototype a trailblazing smart label technology to verify that the surfaces in public spaces, such as mass transit vehicles, have been successfully sterilized with modern ultraviolet C (UVC) sterilization technology.

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Auryn and Eastmain Announce Completion of C$23 Million Equity Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Osisko Metals continues permit work at Pine Point

Osisko Metals Inc. has provided an update on its permitting initiatives at its wholly owned Pine Point project. Since the release of the Preliminary Economic Assessment (PEA), Osisko Metals has continued discussions with stakeholders and shareholders and is now advancing the Project toward the submission of an environmental assessment (“EA”) to government agencies in the fourth quarter of 2020.

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Auryn Resources completes $23-million equity financing

Auryn Resources Inc. has completed the equity financing announced Aug. 31, 2020, by raising $23-million through the issuance of 7.75 million subscription receipts. The bought-deal financing was co-led by Canaccord Genuity Corp. and Beacon Securities Limited. The Subscription Receipts will be exchanged for common shares of Fury Gold (as defined below) concurrently with the release of the escrowed proceeds from the sale of the Subscription Receipts as the final step of the previously announced plan of arrangement transactions pursuant to which Auryn is reorganized and acquires Eastmain (the “Transaction”). Under the Transaction, Auryn will acquire Eastmain after spinning out Auryn’s Peruvian assets into two new companies and distributing the shares of those new companies to Auryn shareholders. The Transaction will also create Fury Gold Mines Limited (“Fury Gold”), a leading developer of Canadian gold projects. The sale of the Subscription Receipts fulfills a principal closing condition for the Transaction.

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Southern Silver prepares for drilling at Cerro

Southern Silver Exploration Corp.’s crews have mobilized in preparation for the start of the 2020 to 2021 drill campaign on the Cerro Las Minitas (CLM) project, Durango, Mexico.

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Canada Nickel drills 357.6 m of 0.29% Ni at Crawford

Canada Nickel Company Inc. has released additional encouraging results from infill drilling on the Main zone at its Crawford nickel-cobalt sulphide project.

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