Metals Update 05/01/2021

QMX drills 185 m of 2.16 g/t Au at Bonnefond

QMX Gold Corp. has released results from the continuing deep exploration drilling program on the Bonnefond deposit. Drill hole 17315-20-149 was completed as part of a series of deep drill holes testing the potential below the conceptual pit shell at Bonnefond. The Bonnefond deposit is located in the Val d’Or East zone of QMX’s extensive land package in Val d’Or, Que.

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Arizona Metals increases placement to $10M

Due to strong investor demand, Arizona Metals Corp. has increased its previously announced non-brokered private placement (see news release dated Jan. 4, 2021) from 5,263,158 shares of the company at a price of 95 cents per share for gross proceeds of $5-million, to up to 10,526,319 shares for gross proceeds of up to $10-million.

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Generation drills 43 m of 2.82 g/t PdEq at Marathon

Generation Mining Ltd. has released final results from its 12-hole, 5,068-metre exploration drill program focused on the downdip western extension of the W horizon portion of the Marathon palladium deposit, which is currently the subject of a feasibility study. The 2020 exploration drilling results will not be incorporated in the feasibility study, which is continuing and should be released during the first quarter of 2021.

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Anaconda drills 0.5 m of 871.23 g/t Au at Goldboro

Anaconda Mining Inc. has released further drill results from a completed infill drill program at its 100-per-cent-owned Goldboro gold project in Nova Scotia, Canada. The drill program comprised 17,941.7 metres and was designed to convert priority inferred mineral resources into measured and indicated mineral resources of the Goldboro deposit as part of the continuing feasibility study, which recognizes the opportunity for expanded open-pit mining areas as well as underground mining opportunities.

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Roscan Gold receives $1.99M from warrant exercise

Further to its news release of Nov. 17, 2020, Roscan Gold Corp. has received additional proceeds of $1,990,640 from the exercise of warrants. The company has increased its drill fleet to six with an additional diamond drill (1,400-metre depth potential) in January, 2021, to adequately test all targets and their respective depth potential and dimension.

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GR Silver drills 83 m of 420 g/t AgEq at Plomosas

GR Silver Mining Ltd. has provided wide and high-grade drill results from the company’s underground core drilling program in the Plomosas mine area, as well as validation sampling results from historic drilling, at its 100-per-cent-owned Plomosas silver project in Sinaloa, Mexico.

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Amerigo hires Harbor Access for investor relations

Amerigo Resources Ltd. has appointed Harbor Access LLC to provide external investor relations services to Amerigo.

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EnCore closes acquisitions of Westwater’s U.S. U assets

Effective Dec. 31, 2020, as described in the Sept. 1, 2020, binding letter of intent, EnCore Energy Corp. has executed a share purchase agreement with Westwater Resources Inc. to acquire all of Westwater’s United States uranium assets. The terms of that agreement were completed and the transaction was closed on Dec. 31, 2020. The assets include two licensed Texas-based in situ recovery uranium production facilities, significant given there are only 11 ISR production facilities in the U.S. Other assets included are mineral exploration leases in Texas, and more than 270 square miles (180,000 acres) of deeded mineral rights in New Mexico with four projects containing significant historical resources. This acquisition more than double the company’s current mineral rights and historical resource holdings, and adds two already licensed uranium production facilities.

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Aquila Resources loses wetlands permit for Back Forty

On Jan.4, 2021, an administrative law judge for the Michigan Office of Administrative Hearings and Rules issued a decision denying the prior issuance of a wetland/stream/floodplain permit for Aquila Resources Inc.’s Back Forty project in Michigan.

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Namibia Critical drills 7 m of 0.58% TREO at Lofdal

Namibia Critical Metals Inc. has provided an update with further drill results from the Area 2B satellite deposit 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 (company press release dated Sept. 21, 2020). Since the company’s previous update (Nov. 26, 2020), progress highlights are summarized as follows:

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Eloro Resources closes $6.32-million financing

Eloro Resources Ltd. has closed its previously announced bought deal financing, including the exercise in full of the overallotment option, of 4,080,660 units of the company at a price of $1.55 per unit for aggregate gross proceeds to the company of $6,325,023. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant is exercisable to acquire one common share at a price per warrant share of $2 for a period of 24 months from the closing date of the offering.

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Euro Sun Mining elects Vukanovich chairman

Euro Sun Mining Inc.’s board of directors has elected Peter Vukanovich as non-executive chair of Euro Sun Mining. Mr. Vukanovich is an entrepreneurial leader and experienced corporate board member. He joined the ESM board of directors in July, 2020. He currently leads PMV Consulting Inc., a company which provides advisory services to financial services and real estate technology clients. He is also on the board of Toronto Stock Exchange-listed Real Matters Inc.

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Kincora Copper to roll back shares 1:3 effective Jan. 8

Following shareholder and TSX Venture Exchange approvals, Kincora Copper Ltd. has consolidated its issued and outstanding share capital on the basis of one postconsolidation share for each three preconsolidation common shares. No fractional shares will be issued under the consolidation, and any fraction will be rounded down to the nearest whole number.

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IsoEnergy 2,702,703-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Dec. 2, 2020.

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Regulus Resources 4,217,452 warrants extended

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

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Ynvisible 12,857,142-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 30, 2020.

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