Metals Update 02/12/2020

Brixton Metals drills one metre of 8.7 g/t Au at Thorn

Brixton Metals Corp. has released drill results from its Outlaw target at its wholly owned Thorn project located in the northwest corner of British Columbia’s Golden Triangle. The company completed 2,788.55 metres of NQ-size drill core over 16 holes at the Outlaw target.

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Alpha Lithium mobilizes drill rig to Tolillar project

Alpha Lithium Corp. has mobilized a drilling rig and is launching a fully financed, three-phase program in the Tolillar Salar. The purpose of the drilling program is to collect lithium brine samples from depth and utilize those to start evaluating the direct lithium extraction (DLE) processes that the company intends to employ.

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Globex Mining drills 5.66 m of 1.1 g/t Au at Laguerre

Globex Mining Enterprises Inc. has now received all the assays from its recent drilling on its Laguerre/Knutson gold project near Larder Lake, Ont.

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Troilus Gold closes $22.1-million bought deal

Troilus Gold Corp. has closed its previously announced bought deal public offering pursuant to which it has issued 6,290,500 common shares of the company that qualify as flow-through shares for the purposes of the Income Tax Act (Canada) and Taxation Act (Quebec), at a price of $1.92 per flow-through share for gross proceeds of approximately $12.1-million, including 820,500 flow-through shares issued in connection with the exercise in full of the overallotment option granted to the underwriters.

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Japan Gold completes 1st drill hole at Ohra-Takamine

Japan Gold Corp. has completed its first drill hole at the Urushi mine and has begun the second drill hole at the Ohra mine, at the Ohra-Takamine project in the Southern Kyushu epithermal gold province, Japan.

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Canyon AGM Approves Issue of 10 Million Canyon Shares to Altus

DIDCOT, UK / ACCESSWIRE / December 1, 2020 / Altus Strategies Plc (AIM:ALS)(TSX-V:ALTS)(OTCQX:ALTUF) announces that the shareholders of ASX-listed Canyon Resources Ltd (“Canyon”) have, at Canyon’s Annual General Meeting held on 30 November 2020, approved the issuance of 10 million fully paid ordinary shares (“Canyon Shares”) to Altus pursuant to the JV Termination Agreement (“Agreement”) previously announced by the Company on 11 February 2019.

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Ynvisible appoints Heydarpour as director

Ynvisible Interactive Inc. has appointed Ramin Heydarpour as a new independent member of its board of directors, stepping into this role after joining Ynvisible as an adviser in October, 2020. Michael Robinson, who was appointed Ynvisible’s chief operating officer in September, 2020, will step down from the company’s board of directors.

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American Manganese plant hits 99.7% Li-ion extraction

American Manganese Inc.’s RecycLiCo pilot plant leach stages achieved 99.7-per-cent extraction of lithium, nickel, manganese and cobalt with continuous operation. These extraction results can be attributed to the company’s earlier pilot plant optimizations that include engineering upgrades and processing parameter modifications.

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Canada Nickel sends third drill rig to Crawford

Canada Nickel Company Inc. has provided a project update on its Crawford nickel-cobalt project.

“We continue to advance Crawford aggressively on multiple fronts towards completion of the Preliminary Economic Analysis (“PEA”) and unlocking its exploration potential. Our metallurgy program continues to deliver results that are in line with or exceeding our expectations.

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Almaden appeal over claims surrounding Ixtaca rejected

Further to the press release of Feb. 27, 2020, on Nov. 26, 2020, a Mexican court rejected the appeal filed by Almaden Minerals Ltd. in October, 2019, objecting to the reinstatement by the Mexican mining authorities of approximately 7,000 hectares of mineral claims surrounding the Ixtaca project, which the company had previously dropped. This court decision upheld the action of Mexican mining authorities that reinstated Almaden’s original mineral claims covering the Ixtaca project as Almaden’s sole mineral claims over the Ixtaca project and leaving the reduced mineral claims the company was awarded in 2017 as held without effect.

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Atac Resources agreement for Black Bear property

The TSX Venture Exchange has accepted for filing documentation in connection with a property option agreement dated Nov. 20, 2020, between William Mann and Max Mikhailytchev (the optionors), and the company, whereby the company can acquire a 100-per-cent interest in the Black Bear property, located near Dawson City in the Yukon. The consideration is $100,000 and 200,000 common shares ($50,000 and 100,000 common shares to each optionor), payable in tranches on or before Feb. 28, 2026.

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Orvana loses $1.59-million (U.S.) in fiscal 2020

Orvana Minerals Corp. has released financial and operational results for the fourth quarter and for the fiscal year ended Sept. 30, 2020. Monetary amounts are in U.S. dollars unless otherwise stated.

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Atac Resources agreement for Mag property

The TSX Venture Exchange has accepted for filing documentation in connection with a property option agreement dated Nov. 20, 2020, between Ralph Nordling and the company, whereby the company can acquire a 100-per-cent interest in the Mag property, located near Dawson City in the Yukon. Consideration is $70,000 and 120,000 common shares, payable in tranches on or before Dec. 31, 2022.

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Mineral Mountain 5,330,600 warrants extended

The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.

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Mineral Mountain provides an update on its Rochford Project

VANCOUVER, BC, Dec. 02, 2020 /CNW/ – We admire the patience and continued support of our loyal Mineral Mountain shareholders. COVID has provided challenges for the technical and management teams to maintain ongoing communications. Both teams have been very busy with the technical team importing and interpreting the Phase II core data into the existing geologic framework and the management team has worked hard in designing and garnering government approval of a drilling program.

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Greencastle Options Historic Mayflower Gold Property in Emerging Rainy River Mining District, NW Ontario

TORONTO, Dec. 02, 2020 (GLOBE NEWSWIRE) — Greencastle Resources Ltd. (“Greencastle” or ‘the Company”) (TSXV: “VGN”) today announces the Company has entered into an option agreement to earn an undivided 100% interest in the Mayflower Gold Property 35 km west of Atikokan, Northwestern Ontario.

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Serengeti and Sun Metals Announce Upsize to Bought Deal Offering in Connection With Merger Transaction

VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) — Serengeti Resources Inc. (TSX-V: SIR) (“Serengeti”) and Sun Metals Corp. (TSX-V: SUNM) (“Sun Metals”) are pleased to announce that they have entered into an agreement with PI Financial Corp. and Haywood Securities Inc. as co-lead underwriters, on behalf of a syndicate of underwriters (collectively, the “Underwriters“), to increase the size of the previously announced bought deal financing to an aggregate of 72,000,000 subscription receipts (the “Subscription Receipts”) at a price of $0.125 per Subscription Receipt (the “Issue Price”) for gross proceeds of $9,000,000 (the “Offering”).

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Regulus Closes Transaction with Osisko Gold Royalties

VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) — Regulus Resources Inc. (“Regulus” or the “Company”, TSX-V: REG, OTCQX: RGLSF) is pleased to announce the closing of the previously announced strategic partnership with Osisko Gold Royalties. Details of the transaction can be found in the Company’s October 1, 2020 press release. The transaction adds US$12.5 M (C$16.6 M) to the Company’s treasury, which will be used to fund exploration and development activities at the Company’s AntaKori project, and for working capital and general corporate purposes.

QMX Gold increases NI 43-101 resource at Bonnefond

QMX Gold Corp. has provided an interim update of its National Instrument 43-101 Standards of Disclosure for Mineral Projects resource estimate on its Bonnefond South property, located approximately 25 kilometres to the east of Val d’Or, Que. The 2020 MRE was completed independently by BBA Inc. in accordance with the NI 43-101 guidelines. A summary of the resource by zone is presented in Table 1. Since the last drill hole used for the 2020 MRE was finished, QMX has completed nearly 14,000 m of drilling on the Bonnefond property and is planning more exploration drilling during the winter.

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Altus starts 6,300 m drill program at Tabakorole

Altus Strategies PLC has commenced a 6,300 m reverse circulation (RC) drilling program at its Tabakorole gold project located in southern Mali. The programme is being funded by Marvel Gold Limited (MVL) ("Marvel") under its joint venture ("JV") with Altus.

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Superior’s Plutonic PEA pegs NPV at $120M (Australian)

Superior Gold Inc. has released positive results from the independent preliminary economic assessment (PEA) of a pushback of the previously producing main pit as well as an updated mineral resource estimate at its 100-per-cent-owned Plutonic gold operations, located in Western Australia. The PEA demonstrates the potential of the Plutonic Main Pit to be a robust open pit gold mine with compelling project economics. Based on the results of the PEA, the Company expects to proceed to a Pre-Feasibility Study (“PFS”) for the Plutonic Main Pit push-back project. (All dollar amounts referenced, unless otherwise indicated, are expressed in Australian Dollars)

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Defiance Acquires Option on Pan American Silver’s Lucita Property; Significantly Expands Zacatecas Projects

Vancouver, British Columbia–(Newsfile Corp. – December 2, 2020) – Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance” or the “Company“) is pleased to announce that it has entered into a definitive option agreement with Pan American Silver Corp. (“Pan American“) to acquire a 100% interest in Pan American’s Lucita property, located adjacent to Defiance’s San Acacio project (Figure 1). If the option requirements are satisfied and the option is exercised by the Company, this acquisition would nearly triple the land position of Defiance in the historic Zacatecas silver district to over 4,300 Ha and contains some of the most prospective targets in the camp.

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TriStar Gold – First Drill Results from Major Campaign

Scottsdale, Arizona–(Newsfile Corp. – December 2, 2020) – TriStar Gold Inc.(TSXV: TSG) (OTCQX: TSGZF)  (the Company or TriStar) is pleased to announce results from the first six holes (649m) from the current 12,500m campaign. This drilling campaign with two reverse circulation drill rigs and one core rig is designed to: (1) Complete drilling required for the prefeasibility study, (2) Test for additional near-surface conglomerate hosted gold and (3) Test for new targets of remobilized gold hosted near granite contacts.

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