Metals Update 04/12/2020

Almaden continues to own 100% of Ixtaca

Almaden Minerals Ltd. wishes to address certain questions that have arisen in respect of its press release of Dec. 1, 2020, regarding its Ixtaca gold and silver project in Mexico.

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Japan Gold to acquire Kowa in Kyushu

Japan Gold Corp. has signed a joint venture agreement with Koatsu Kogyo Corp. (KKC) for three mining rights licences (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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Cantex intersects new massive sulphides at North Rackla

Cantex Mine Development Corp. 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 affinities.

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Namibia Critical Metals achieves Lofdal sample upgrades

Namibia Critical Metals Inc. has provided an update on the metallurgical test work program on the Lofdal heavy rare earth project in northern Namibia. Lofdal is a joint venture between the company and Japan Oil, Gas and Metals National Corp. (JOGMEC), which is operating under a term 1 budget of $4.1-million (see the company’s press release dated Sept. 21, 2020). The company recently reported an increase of 60 per cent to the strike length of the Area 4 deposit and the inclusion of the first satellite heavy rare earth deposit (see the company’s press release dated Nov. 26, 2020). Highlights of the metallurgical test work program are reported as follows:

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Azarga Uranium arranges $4-million bought deal

Azarga Uranium Corp. has entered into an agreement with Haywood Securities Inc. and Eight Capital, as underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 20 million units of the company at a price of 20 cents per unit for gross proceeds to the company of $4-million.

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Bonterra increases private placement to $15-million

Bonterra Resources Inc. has increased the size of the previously announced non-brokered private placement to $15-million from the sale of common shares of the company at a price of $1.15 per common share. The company may further elect to increase the size of the offering by issuing additional common shares. In addition, the company may pay finders’ fees in connection with the offering. This offering is expected to close within the next 10 days.

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Klondike Gold shareholders approve all matters at AGM

Klondike Gold Corp. has released the results of its annual general meeting of shareholders held earlier today. The company elected five directors to its board, namely Peter Tallman, Gordon Keep, John Pallot, Steven Brunelle and Tara Christie.

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Omineca Mining private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Oct. 30, 2020, and Nov. 12, 2020.

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Horizonte completes Araguaia value engineering phase

Horizonte Minerals PLC has provided an operational update for the Araguaia nickel project as the project moves toward construction.

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