Metals Update 02/02/2021

Ynvisible receives $4.4M from warrant exercise

Since Dec. 1, 2020, Ynvisible Interactive Inc. has received proceeds of $4.4-million pursuant to the exercise of 7,315,473 common share purchase warrants. The exercised warrants were originally issued in connection with non-brokered private placement financings completed by Ynvisible on Jan. 9, 2019, and June 5, 2019, pursuant to which warrants were issued with an exercise price of 60 cents for periods of three years. At the present time, approximately 80 per cent of the warrants have been exercised.

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Moneta drills 10 m of 2.85 g/t Au at Golden Highway

Moneta Porcupine Mines Inc. has released the results from six holes drilled to test three target areas for gold mineralization over a strike length of 1,600 metres to the east of the Windjammer South open-pit gold resource. The drill holes were drilled as part of the expanded 2020/2021 winter drill program on the Golden Highway project, 110 kilometres east of Timmins, Ont.

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Serengeti drills 212 m of 0.4% Cu at Kwanika

Serengeti Resources Inc. has provided the final batch of assay results from the 2020 drilling campaign completed at the Kwanika project in north-central British Columbia. A total of 4,350 metres were drilled in nine holes testing a number of exploration targets and resource expansion opportunities. The first batch of results were reported on Dec. 16, 2020. The advanced resource-stage Kwanika project is about 26,000 hectares, held by Kwanika Copper Corp. (KCC),* and is located in the Quesnel Trough of British Columbia which hosts numerous porphyry copper-gold deposits.

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Treasury’s Goliath PEA pegs pretax NPV at $477M

Treasury Metals Inc. has released the results from a preliminary economic assessment for the company’s Goliath gold complex, which includes the Goliath, Goldlund and Miller deposits along a prospective 65-kilometre trend in Northwestern Ontario. The PEA, prepared by Ausenco Engineering Canada Inc. in accordance with National Instrument 43-101, demonstrates the potential to develop a low-cost 5,000-tonne-per-day combined open-pit and underground mining operation with strong economics and the opportunity for significant benefit to the company, indigenous nations and local stakeholders.

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Lithium Chile arranges $3.5-million private placement

Lithium Chile Inc. is planning to complete a non-brokered private placement of up to 12.5 million units of the company at a price of 28 cents per unit for aggregate gross proceeds of up to $3.5-million. There is no minimum Offering. In addition, the Company has reserved an option (the “Over-Allotment Option”) to issue an additional 1,875,000 Units (equaling 15% of the Offering). Each Unit will be comprised of one (1) common share of the Company (a “Common Share”) and one (1) Common Share purchase warrant (“Warrant”). Each Warrant shall be exercisable at $0.60 per Common Share for a period of 24 months from the date of closing of the Offering. The Warrants issued pursuant to the Offering will contain an acceleration clause such that the expiry date for the Warrants may be accelerated at the Company’s discretion upon the Common Shares trading at or above $0.75 per share for a period of 20 consecutive trading days. If the Company elects to trigger the acceleration clause, the Warrants must be exercised within thirty days from receipt of notice from the Company that the acceleration clause has been triggered.

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EnCore Energy appoints Mierkey as CFO, Davis resigns

EnCore Energy Corp. has appointed Carrie Mierkey as the company’s chief financial officer effective immediately.

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Santacruz Silver produces 3.65 million oz AgEq in 2020

Santacruz Silver Mining Ltd. has released operating results from the Zimapan mine in Zimapan Hidalgo, and the Rosario project in Charcas, San Luis Potosi, located in Mexico, for the fourth quarter and year ended Dec. 31, 2020, and has provided an operations update.

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Cerro de Pasco estimates 31.48M oz Ag at Excelsior

Cerro de Pasco Resources Inc. has released the results of a maiden mineral resource estimate for the Excelsior stockpile in Cerro de Pasco, Peru, prepared in accordance with Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves, adopted by the CIM council on May 10, 2014.

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Eskay Mining drills 35.5 m of 9.5 g/t Au, 70 g/t Ag

Eskay Mining Corp. has received all assays from 20 drill holes completed during its maiden diamond drill program at two precious-metal-rich volcanogenic massive sulphide deposits, Jeff and TV, on joint venture ground held with Kirkland Lake Gold Ltd. (80 per cent Eskay/20 per cent Kirkland Lake Gold). Assays include 35.5 metres grading 9.50 grams per tonne gold and 70 grams per tonne silver, including 9.25 metres grading 32.17 grams per tonne gold and 93.2 grams per tonne silver in hole J20-33 at Jeff.

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Fenixoro Gold arranges $1-million private placement

Fenixoro Gold Corp. has arranged a non-brokered private placement, consisting of 3,333,333 units at a price of 30 cents per unit for anticipated gross proceeds of approximately $1-million. The Private Placement is being subscribed for by a small number of significant shareholders of the Company. Each Unit will consist of one common share of the Company and one whole common share purchase warrant, with each warrant being exercisable for one additional common share at an exercise price of $0.35 for a period of two years from the date of issuance. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance. The Company intends to use the net proceeds of the Private Placement to continue its Phase 1 drilling program at the Abriaqui Project and for general working capital purposes.

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Abcourt resumes operations at Elder

Abcourt Mines Inc. has resumed operations at the Elder mine. The motor for the hoist at the Elder mine was repaired with success. A production crew started with the night shift on Friday night, Jan. 29, 2021. The company is ready to increase production quickly to reach the excellent level that it had before the shutdown.

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