Metals Update 22/01/2021

Serengeti, Sun receive B.C. court order for merger

Serengeti Resources Inc. and Sun Metals Corp. has obtained an interim order from the Supreme Court of British Columbia with respect to the previously announced proposed plan of arrangement, pursuant to which Serengeti will acquire all of the issued and outstanding shares of Sun Metals, on the basis of 0.215 of a postconsolidation (as defined below) Serengeti share for each Sun Metals share, which is 0.43 of a preconsolidation Serengeti share for each Sun Metals share on a preconsolidation basis. Each company will mail out a joint management information circular in connection with the holding of special meetings of the securityholders of Sun Metals, which will be held in accordance with the interim order, and shareholders of Serengeti to approve the Transaction and related matters. The meetings are scheduled to be held concurrently on February 26, 2021, with the record date for Serengeti shareholders and Sun Metals securityholders to receive notice of and vote at each of the Serengeti meeting and Sun Metals meeting having been set at January 15, 2021. Subject to receipt of all requisite approvals and waiver or satisfaction of all relevant conditions, closing of the Transaction is expected to be on or about March 4, 2021.

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Fiore Gold files NI 43-101 report for Pan

Fiore Gold Ltd. has filed a report, entitled “NI 43-101 Updated Technical Report on Resources and Reserves Pan Gold Project, White Pine County, Nevada.” The Technical Report, which is dated January 22, 2021 with an effective date of June 30, 2020, was prepared in compliance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects ("NI 43-101") and is available under Fiore’s profile on SEDAR at http://www.sedar.com and on the Company's website at fioregold.com.

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Tristar appoints Van Den Akker as independent director

Tristar Gold Inc. has appointed Jessica Van Den Akker to the board of directors as an independent director. Ms. Van Den Akker will also act as chairperson of the audit committee. Brian Irwin will be standing down from the board of directors but will continue to act as corporate secretary.

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Moneta files technical report for Golden Highway

Moneta Porcupine Mines Inc. has filed the technical report covering the updated mineral resource estimate for the Golden Highway project, 110 kilometres east of Timmins, Ont.

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Critical Elements increases bought deal to $15-million

In connection with its previously announced bought deal private placement offering, Critical Elements Lithium Corp. and a syndicate of underwriters led by Paradigm Capital Inc. and Cantor Fitzgerald Canada Corp., and including Stifel GMP and Raymond James Ltd., have agreed to increase the size of the offering to raise total gross proceeds of $15,000,040. The corporation will now issue 13,636,400 units of the corporation at $1.10 per unit.

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