Metals Update 03/12/2020

Mineral Mountain appoints Hrncir as chief geologist

Management admires the patience and continued support of its loyal Mineral Mountain Resources Ltd. 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 Mayflower property

Greencastle Resources Ltd. has entered into an option agreement to earn an undivided 100-per-cent interest in the Mayflower gold property 35 kilometres west of Atikokan, Northwestern Ontario.

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Regulus Resources closes $16.6M partnership with Osisko

Regulus Resources Inc. has closed its previously announced strategic partnership with Osisko Gold Royalties. Details of the transaction can be found in the company’s Oct. 1, 2020, press release. The transaction adds $12.5-million (U.S.) ($16.6-million (Canadian)) to the company’s treasury, which will be used to finance exploration and development activities at the company’s AntaKori project, and for working capital and general corporate purposes.

Serengeti, Sun Metals increase bought deal to $9M

Serengeti Resources Inc. and Sun Metals Corp. have entered into an agreement with PI Financial Corp. and Haywood Securities Inc. as co-lead underwriters, on behalf of a syndicate of underwriters, to increase the size of the previously announced bought deal financing to an aggregate of 72 million subscription receipts at a price of 12.5 cents per subscription receipt for gross proceeds of $9-million.

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Defiance Silver to acquire Lucita property

Defiance Silver Corp. has entered into a definitive option agreement with Pan American Silver Corp. to acquire a 100-per-cent 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 drills 33 m of 0.6 g/t Au at Castelo de Sonhos

Tristar Gold Inc. has released results from the first six holes (649 metres) of the current 12,500-metre campaign. This drilling campaign, with two reverse circulation drill rigs and one core rig, is designed to: (i) complete drilling required for the prefeasibility study; (ii) test for additional near-surface, conglomerate-hosted gold; and (iii) test for new targets of remobilized gold hosted near granite contacts.

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IsoEnergy arranges $3-million FT financing

IsoEnergy Ltd. has entered into an agreement with Haywood Securities Inc. for a bought deal private placement financing wherein the underwriter has agreed to purchase 2,027,027 flow-through common shares of the company at a price of $1.48 per FT share for aggregate gross proceeds of $3-million. The FT shares will qualify as flow-through shares as defined in the Income Tax Act (Canada).

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Enviroleach increases private placement to $5.25M

Due to investor demand, Enviroleach Technologies Inc. has increased the size of its previously announced non-brokered private placement financing (see news release dated Nov. 27, 2020) from 10 million units to 17.5 million units at a price of 30 cents per unit for gross proceeds of up to $5.25-million. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of 50 cents per share for a period of 24 months from the date of closing.

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IsoEnergy increases private placement to $4M

In connection with its previously announced bought deal private placement financing, IsoEnergy Ltd. has entered into an agreement with Haywood Securities Inc. to increase the size of the offering to 2,702,703 flow-through (FT) common shares of the company at a price of $1.48 per FT share for aggregate gross proceeds of $4-million. The FT Shares will qualify as “flow-through shares” as defined in the Income Tax Act (Canada).

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Noront releases Eagle’s Nest met testwork results

Noront Resources Ltd. has updated the metallurgical information for its Eagle’s Nest mine project and has provided results from its 2020 drilling program.

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Greencastle Resources agreement for Seagrave property

The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated Oct. 29, 2020, between Greencastle Resources Ltd., Gravel Ridge Resources Ltd. and 1544230 Ontario Inc. Pursuant to the option agreement, the company will acquire a 100-pe-cent interest in the Seagrave property, consisting of 131 claim units in the Birch-Uchi greenstone belt of the Red Lake mining district in Northwestern Ontario.

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Regulus Resources, Osisko Gold property agreement

The TSX Venture Exchange has accepted for filing an investment agreement dated Oct. 1, 2020, between Regulus Resources Inc. and its material subsidiaries, and Osisko Gold Royalties Ltd.

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Aurion drills 5.3 m of 3.05 g/t Au at Launi East

Aurion Resources Ltd. has released results from drilling on the Hinge zone at its wholly owned Launi East property and Kaaresselka prospect on its wholly owned Risti property in the Central Lapland Greenstone Belt in northern Finland.

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Goldsource drills 28.5m of 2.03g/t Au at Eagle Mountain

Goldsource Mines Inc. has released additional expansion and infill drill results for the Salbora and Eagle Mountain deposits and Montgomery prospect within the 100-per-cent-owned Eagle Mountain gold project in Guyana, South America. Reported results are for 39 new diamond drill holes for 5,733 metres (see attached Figures and tables below). Over 15,000 metres of core drilling has been completed in 2020.

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Almaden Confirms 100% Ownership of Ixtaca Project

Almaden Minerals Ltd. (“Almaden” or the “Company”; TSX: AMM; NYSE American: AAU) wishes to address certain questions that have arisen in respect of its press release of December 1, 2020 regarding its Ixtaca gold & silver project in Mexico.

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Japan Gold Enters into an Agreement to Acquire Mining Rights in Southern Kyushu

Vancouver, British Columbia–(Newsfile Corp. – December 3, 2020) – Japan Gold Corp. (the “Company”) (TSXV: JG) (OTCQB: JGLDF) is pleased to announce it has signed a Joint Venture agreement with Koatsu Kogyo Corporation (“KKC”) for three mining rights licenses, (“the Kowa Project”) which adjoin the Company’s Ohra-Takamine Project, and the Barrick Alliance Mizobe-Onoyama Project in Southern Kyushu.

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Golden Minerals drills 15 holes at Yoquivo

Golden Minerals Company has completed a 3,400-metre, 15-hole drill campaign at its Yoquivo gold-silver district-scale property in Chihuahua, Mexico.

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Cantex Intersecting Massive Sulphide Mineralization at Both Main and GZ Zones at North Rackla

KELOWNA, BC, Dec. 3, 2020 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the “Company”) has released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities.

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