Metals Update 24/02/2021

Canada Nickel Announces Grant of Options and RSUs and Implementation of Salary Equity Program

TORONTO, Feb. 24, 2021 /CNW/ – Canada Nickel Company Inc. (“Canada Nickel” or the “Company“) (TSXV: CNC) (OTCQB: CNIKF) is pleased to announce that it has granted an aggregate of 265,000 restricted stock units (“RSUs“) and an aggregate of 540,000 options to certain officers and directors of the Company as a long-term incentive and 2020 annual performance awards, all in accordance with its restricted share unit plan (the “RSU Plan“) and option plan. The options vest over three years, are exercisable at a price of $3.63 per share and expire five years from the date of grant. The RSUs vest one year from the date of grant.

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Steppe Gold Doubles the ATO Gold Mine Resource to 2.45Moz Gold Equivalent

Ulaanbaatar, Mongolia–(Newsfile Corp. – February 24, 2021) – Steppe Gold Ltd (TSX: STGO) (“Steppe Gold” or the “Company”) is pleased to announce an updated independent Mineral Resource Estimate at its 100% owned ATO Gold Mine. This estimate will form the basis of the upcoming bankable feasibility study (“BFS”) due out in Q2 2021.

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GR Silver Mining Appoints Brenda Dayton as VP Corporate Communications

VANCOUVER, BC, Feb. 24, 2021 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to announce the appointment of Brenda Dayton as VP Corporate Communications effective March 1, 2021.

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Troilus Gold drills 18 m of 1.16 g/t AuEq at Troilus

Troilus Gold Corp. has provided additional drill results from recent exploration drilling at its 100-per-cent-owned Troilus gold project located in north-central Quebec, Canada. These latest results represent exploration and step out holes located in the Southwest Zone, a priority growth target which was discovered and drilled in late 2019 and early 2020 (See Figure 1). Results continue to define significant mineral expansion well beyond the pit proposed in the Preliminary Economic Assessment (“PEA”) (See press release dated August 31, 2020) (See Figure 2). Highlights include:

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Orvana Provides Summary of Presentation Provided at AGM Held on February 18, 2021

TORONTO, Feb. 24, 2021 /CNW/ – Orvana Minerals Corp. (TSX:ORV) (the “Company” or “Orvana”). This year, Orvana held its Annual General Meeting (“AGM”) by virtual means on Thursday, February 18, 2021. The virtual format addressed Ontario’s COVID-19 restrictions, while allowing registered shareholders and proxyholders to participate by videoconference. As previously announced on February 18, 2021, the shareholders approved the following matters at the AGM: (a) re-elected the board of directors; (b) re-appointed PricewaterhouseCoopers LLP as the Company’s independent auditor; and (c) re-approved the Company’s 2018 stock option plan.

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Lithium Chile Announces Closing of Its $3.5 Million Financing

CALGARY, ALBERTA – TheNewswire – February 24, 2021 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) (TSXV:LITH) (OTC:LTMC) is pleased to announce that it has closed its fully subscribed previously announced private placement of units of the Company (the “ Units ”) for gross proceeds of $3.5 million (the “ Offering ”) and that the 15% option (the “ Over-Allotment Option ”) was taken up for gross proceeds to the Company of approximately $4,024,000.  Each Unit is comprised of one (1) common share of the Company (a “ Common Share ”) and one (1) Common Share purchase warrant (“ Warrant ”). Each Warrant is 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 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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FenixOro Discovers New Zone With Multiple High Grade Veins, Intercepts 124.5 g/t Gold

TORONTO, Feb. 24, 2021 (GLOBE NEWSWIRE) — FenixOro Gold Corp (CSE:FENX, OTCQB:FDVXF, Frankfurt:8FD) is pleased to announce drill results from holes P005 and P006 from its recently completed 4029 meter Phase 1 diamond drilling program at the Abriaqui project in Colombia. Highlights include:

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Prime Mining Named to TSX Venture Exchange “Venture 50”

VANCOUVER, British Columbia, Feb. 24, 2021 (GLOBE NEWSWIRE) — Prime Mining Corp. (“Prime” or the “Company”) (TSX-V: PRYM, OTCQB: PRMNF, Frankfurt: A2PRDW) is pleased to announce that it has been named to the 2021 TSX Venture 50, an annual ranking of top performing listed companies from five industry sectors including, Mining, Oil & Gas, Clean Technology and Life Sciences, Diversified Industries and Technology.

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Blue Lagoon Announces Results of Soil Sampling Program – Identifies New Zones for Priority Drilling

VANCOUVER, BC / ACCESSWIRE / February 24, 2021 / Blue Lagoon Resources Inc. (the “Company“) (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the results from its prospecting and soil sampling program completed on its Dome Mountain Gold Project – an all-year-round accessible property located a short 50-minute drive from Smither B.C.

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Moneta Completes Acquisition of Garrison Project from O3 Mining to Create a Leading Canadian Gold Development Company with 4.0m Oz Gold Indicated and 4.4m Oz Gold Inferred

Toronto, Ontario–(Newsfile Corp. – February 24, 2021) – Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (XETRA: MOP) (“Moneta” or the “Company”) is pleased to announce that the Company has completed the acquisition of all the issued and outstanding shares of Northern Gold Mining Inc., a wholly-owned subsidiary of O3 Mining Inc. (TSXV:OIII) (OTCQX: OIIIF) (“O3 Mining”), which owns 100% of the Golden Bear assets, including the Garrison Gold project located adjacent to and contiguous with Moneta’s Golden Highway project in the Timmins Gold Camp as previously announced on January 14, 2021 (Press release ME-PR 01-2021) (the “Transaction”).

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