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News Article | February 27, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2017) - Geologix Explorations Inc. (TSX VENTURE:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(STUT:GF6)(MUN:GF6) ("Geologix" or "the Company") is pleased to announce that the Preliminary Economic Assessment ("PEA") on its 100% owned Tepal Gold/Copper Project located in southwest Mexico has been filed on SEDAR. The PEA results were previously disclosed in the Company's news release dated January 19, 2017. The PEA is entitled "Preliminary Economic Assessment on the Tepal Project, Michoacán, Mexico" effective January 19, 2017 and signed February 24, 2017 (the "Technical Report"). The Technical Report was authored by independent Qualified Persons, and is in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Technical Report is available under the Company's profile at www.sedar.com and can also be found on the Company's website at www.geologix.ca. Geologix is a mineral exploration and development company focused on acquiring, exploring, and developing mineral resource opportunities with the potential to host profitable mining operations. The Company's primary focus is the Tepal Gold/Copper Project in Michoacán, Mexico. On behalf of the Board of Directors,


News Article | March 1, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 2017) - Geologix Explorations Inc. (TSX VENTURE:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(MUN:GF6)(STUT:GF6) ("Geologix" or "the Company") is pleased to announce the appointment of Ms. Gillian Kearvell as the Company's Vice President of Exploration. Ms. Kearvell is an exploration geologist with over 30 years of experience working with junior and senior exploration and mining companies throughout North America and Mexico. She has worked exclusively in Mexico since 1994 during which time she co-discovered Teck Resources' San Nicolas VMS deposit in Zacatecas State, managed the pre-feasibility field program at Goldcorp's Los Filos Mine and led Teck's exploration team that developed the Guerrero Gold Belt ("GGB") exploration model resulting in the El Limon-Guajes and Cerro Media Luna discoveries, currently operated by Torex Gold. She was most recently Vice President of Exploration at Newstrike Capital, where she led the Ana Paula Project discovery team until Newstrike's acquisition by Timmins Gold in 2015. Prior to that, Ms. Kearvell worked as Vice President of Corporate Development for Aurea Mining where she introduced and promoted the GGB to capital markets, among other duties. Ms. Kearvell resides in Guadalajara, Mexico. Kiran Patankar, Geologix's President and Chief Executive Officer, stated: "Gillian's extensive experience developing exploration programs and managing teams in Mexico that have resulted in several world-class discoveries will be a tremendous asset to the Company as we leverage our first-mover advantage in the highly prospective yet underexplored porphyry belt hosting our Tepal Gold/Copper Project. Her keen passion for making new discoveries fits well with our corporate objectives. We are delighted to welcome Gillian to the management team at Geologix and to add a second leg of growth to the Company through her focused exploration approach." In connection with Ms. Kearvell's appointment, the Company has agreed to issue Ms. Kearvell, subject to TSX Venture Exchange approval, 400,000 common shares of the Company and grant her a common share purchase option on 500,000 common shares for five years at $0.08 per share. The option will vest, as to 25%, on each of granting, June 1, 2017, September 1, 2017, and March 1, 2018. The Company also announces that it has granted incentive stock options to its directors and employees, exercisable to purchase up to 3,125,000 common shares until March 1, 2022 at an exercise price of $0.08 per share. The incentive stock options were granted in accordance with the Company's Stock Option Plan. Geologix is a mineral exploration and development company focused on acquiring, exploring, and developing mineral resource opportunities with the potential to host profitable mining operations. The Company's primary focus is the Tepal Gold/Copper Project in Michoacán state, Mexico. On behalf of the Board of Directors, This Press Release may contain statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


News Article | February 20, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 20, 2017) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") has granted 7,000,000 stock options at a price of $0.27 per share for a period of five years to various employees, officers, consultants, and directors of the Company. The options are subject to regulatory approval and are granted under the Company's stock option plan and include vesting provisions. Calibre owns a 100% interest in over 413 km2 of mineral concessions in the Mining Triangle of Northeast Nicaragua including the Primavera Gold-Copper Project and Monte Carmelo Gold Project. Additionally the Company has optioned to IAMGOLD (176 km2) and Centerra Gold (253 km2) concessions covering an aggregate area of 429 km2 and is party to a joint venture on the 33.6 km2 Rosita D gold-copper-silver project with Rosita Mining Corporation. Major shareholders of Calibre include gold producer B2Gold Corp, Pierre Lassonde and management. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains certain forward-looking statements, Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Atlas to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements


News Article | February 15, 2017
Site: www.marketwired.com

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Fortune Minerals Limited (TSX:FT)(OTCQX:FTMDF) ("Fortune" or the "Company") is pleased to announce that it has entered into an agreement with Cormark Securities Inc. (the "Underwriters"), which has agreed to purchase, on a bought deal basis, 20 million units of Fortune (the "Units") at a purchase price of $0.25 per Unit (the "Offering Price"), for aggregate gross proceeds in the amount of approximately $5 million (the "Offering"). Each Unit will consist of one common share of Fortune (a "Unit Share") and one half of one common share purchase warrant (each whole purchase warrant a "Warrant"), each Warrant being exercisable to acquire one common share of Fortune at a purchase price of $0.35 for a period of 24 months following the closing date. In addition, the Company has granted the Underwriters an option to purchase additional Units at the Offering Price to raise additional gross proceeds of up to 15% of the Offering, for a period of 30 days after and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes. The offering is scheduled to close on or about March 8, 2017. Closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities. The net proceeds from the offering will be used to fund an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper project and for general corporate purposes. This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. The NICO deposit contains Proven and Probable Mineral Reserves totaling more than 33 million tonnes that will support a 21-year mine life at a planned mill throughput rate of 4,650 metric tonnes of ore per day. Approximately 180 wet tonnes per day of bulk concentrate will be produced by flotation in the mill containing the recoverable metals and will be trucked from the site on the new road to the rail head at Hay River for railway delivery to the refinery in Saskatchewan and downstream processing to value-added metals and chemicals. Life of mine average annual production is projected to be 41,300 ounces of gold, 1,615 tonnes of cobalt contained in a battery grade cobalt sulphate, 1,750 tonnes of bismuth contained in metal ingots and oxide powder, and 265 tonnes of copper. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune, who is a "Qualified Person" under National Instrument 43-101. The technical report on the feasibility study referred to above, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited, from which certain information in this press release has been extracted, has been filed on SEDAR and is available under the Company's profile at www.sedar.com. Fortune is a Canadian development stage mining company focused on advancing the vertically integrated NICO gold-cobalt-bismuth-copper project in the Northwest Territories and a related refinery the Company plans to construct in Saskatchewan. Fortune also owns the Sue-Dianne copper-silver-gold deposit located 25 km north of NICO and a potential future source of incremental mill feed to extend the life of the NICO mill. The Company also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia that were recently purchased by a provincial Crown corporation. This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the Company's plans to develop the NICO project (including the Company's plans to secure off-take agreements and project financing to start construction), estimated future production, anticipated growth in the demand for cobalt, anticipated constraints on the supply of cobalt and plans for the construction of an all-season road needed for operations at the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding the Company's ability to arrange the necessary financing to continue operations and develop the NICO project, growth in the demand for cobalt, restrictions on the supply of cobalt and the proposed construction of the all-season road, the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the Company may not be able to finance and develop NICO on favourable terms or at all, the market for rechargeable batteries and the use of stationary storage cells may not grow to the extent anticipated, the future supply of cobalt may not be as limited as anticipated, the Company's production of cobalt and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Fortune Minerals Limited (TSX:FT)(OTCQX:FTMDF) ("Fortune" or the "Company") is pleased to announce that it has agreed with Cormark Securities Inc. (the "Underwriter") to increase the size of the bought deal offering of units, announced on February 15, 2017, by 2,800,000 units ($700,000 ) to 22,800,000 units ("Units") of the Company at a price of $0.25 per Unit, for aggregate gross proceeds of $5.7 million. Each Unit will consist of one common share of Fortune (a "Common Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant"), each full Warrant being exercisable to acquire one common share of Fortune at a purchase price of $0.35 for a period of 24 months following the closing date. In addition, the Company has granted the Underwriter an option to purchase additional Units at the Offering Price to raise additional gross proceeds of up to $750,000, for a period of 30 days after and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes. The offering is scheduled to close on or about March 8, 2017. Closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities. The net proceeds from the offering will be used to fund an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper project and for general corporate purposes. This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. The NICO deposit contains Proven and Probable Mineral Reserves totaling more than 33 million tonnes that will support a 21-year mine life at a planned mill throughput rate of 4,650 metric tonnes of ore per day. Approximately 180 wet tonnes per day of bulk concentrate will be produced by flotation in the mill containing the recoverable metals and will be trucked from the site on the new road to the rail head at Hay River for railway delivery to the refinery in Saskatchewan and downstream processing to value-added metals and chemicals. Life of mine average annual production is projected to be 41,300 ounces of gold, 1,615 tonnes of cobalt contained in a battery grade cobalt sulphate, 1,750 tonnes of bismuth contained in metal ingots and oxide powder, and 265 tonnes of copper. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune, who is a "Qualified Person" under National Instrument 43-101. The technical report on the feasibility study referred to above, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited, from which certain information in this press release has been extracted, has been filed on SEDAR and is available under the Company's profile at www.sedar.com. Fortune is a Canadian development stage mining company focused on advancing the vertically integrated NICO gold-cobalt-bismuth-copper project in the Northwest Territories and a related refinery the Company plans to construct in Saskatchewan. Fortune also owns the Sue-Dianne copper-silver-gold deposit located 25 km north of NICO and a potential future source of incremental mill feed to extend the life of the NICO mill. The Company also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia that were recently purchased by a provincial Crown corporation. This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the Company's plans to develop the NICO project (including the Company's plans to secure off-take agreements and project financing to start construction), estimated future production, anticipated growth in the demand for cobalt, anticipated constraints on the supply of cobalt and plans for the construction of an all-season road needed for operations at the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding the Company's ability to arrange the necessary financing to continue operations and develop the NICO project, growth in the demand for cobalt, restrictions on the supply of cobalt and the proposed construction of the all-season road, the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the Company may not be able to finance and develop NICO on favourable terms or at all, the market for rechargeable batteries and the use of stationary storage cells may not grow to the extent anticipated, the future supply of cobalt may not be as limited as anticipated, the Company's production of cobalt and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.


News Article | February 24, 2017
Site: www.marketwired.com

RIMOUSKI, QUEBEC--(Marketwired - Feb. 24, 2017) - Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the "Company" or "Puma") is pleased to announce that it has closed the asset purchase agreement (the "Transaction") with Votorantim Metals Canada Inc. and acquired approximately 67.9% beneficial interest in the Murray Brook zinc-lead-copper-silver volcanogenic massive sulphide (VMS) deposit located in the famous Bathurst mining camp of northern New Brunswick (see news release 2016-10-13). The Murray Brook property consists of mining lease 252 and contiguous mineral claim block 4925 (245 claims) located four kilometres west of the producing Caribou mine which is owned and operated by Trevali Mining Corp. Concurrent with the Transaction, Puma also completed the acquisition of Murray Brook Minerals Inc. ("MBM") and a second tranche of its private placement for additional gross proceeds of $555,000 (see news release 2017-02-01). Puma has completed the acquisition of the privately owned mining exploration company MBM, whose assets include four base metal (copper-zinc) properties in the Restigouche County. The MBM's shareholders were issued 36,000,000 common shares of Puma (see news release 2016-12-07). MBM is now a wholly owned subsidiary of Puma. Puma closed the second tranche of a private placement (the "Offering") with qualified investors, employees, consultant and existing security holders for gross proceeds of $555,000 and issued 7,928,569 units (each a "Unit") at the price of $0.07 per Unit. Each Unit comprises one common share and one full common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.15 per share until February 24, 2019. Management and insiders of the Company have subscribed 1,354,285 Units for an amount of $94,800. In connection with the Offering, the Company paid cash finder's fees of $14,840 and issued 212,000 finder's warrants that entitle the holder to acquire one additional common share of Puma at a price of $0.07 for 24 months. All securities issued to purchasers and finder under the Offering are subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The proceeds of the Offering will be used for the exploration and development of Puma's properties in New Brunswick and for general corporate purposes. All transactions described herein have received the conditional approval of the TSX Venture Exchange. Puma is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's other major assets are the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma's objective for the coming year is to focus its exploration efforts in New Brunswick. Canada. Learn more by clicking here: www.pumaexploration.com The contents of this press release were prepared by Marcel Robillard, a Qualified Person as defined in NI 43-101. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma Exploration undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.


Update on exploration projects in BC and Nunavut VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 23, 2017) - Tom Peregoodoff, President and Chief Executive Officer of Kaizen Discovery Inc. (TSX VENTURE:KZD) is pleased to provide an update on the company's planned exploration program at the Pinaya Copper-Gold Project in Peru, as well as an update on its exploration projects in Canada. The Declaration for Environmental Impact for the Pinaya Project, which was approved in mid-February, is a significant step towards the final authorization to commence drilling activities at the Pinaya Project. The DIA allows Kaizen to use up to 20 drilling platforms and to drill as many as 55 holes totalling up to 17,200 metres. Kaizen plans to drill approximately 4,000 metres at the Pinaya Project in 2017. The DIA also enables Kaizen to excavate 95 trenches. In addition, the Certificate of Non-Existence of Archaeological Remains has been received which is also a precondition to commencing drilling. The remaining requirements needed to commence drilling activities include receipt of a permission to initiate activities and a water-use permit, both of which are expected to be received well before the planned start of the drilling program in May or June. Approximately 3,000 metres of Kaizen's planned 2017 drilling program will be focused on the expansion of the Pinaya Mineral Resource area, where recent re-logging of core drilled by previous operators has identified compelling resource expansion opportunities along strike to the north and south of the defined Mineral Resource area, and in the Antaña target area. In addition, the Mineral Resource remains open to depth and Kaizen's program also will include some deeper drilling to test the depth potential of the current resource. An additional 1,000 metres of drilling is planned to test new targets within the license area covered by the DIA. Final drill target selection will be made following the conclusion of an extensive geological mapping and prospecting program expected to commence by the end of April. The planned mapping and prospecting program will include the Jayulaque and Chanka target area and follow up of the target areas in the north of the property, recently identified using geochemical data generated by previous operators. In late 2016, Kaizen engaged consulting geologist Nadia Caira, P.Geo., to conduct an extensive review of the core drilled at the project by previous operators. This review has provided Kaizen with new and valuable insights into the distribution of the mineralization within the different deposit types in the resource area and their relation to the regional structural setting. Further work, including preliminary prospect mapping and resource drilling review, was recently completed by consulting geologist Gustavo Zulliger, whose insights have been critical to finalizing the 2017 resource expansion and target testing drilling. The planned budget for the 2017 exploration program at Pinaya is C$5 million, which includes permitting and preparatory work conducted in 2016 and target generation and drilling planned for the 2017 program. As detailed below, the program is being co-funded 50% by Kaizen's joint-venture partner, ITOCHU. "We are pleased to now be in a position to soon begin drilling on the Pinaya Project," said Mr. Peregoodoff. "It has taken us considerable time to receive the necessary land-access agreements and exploration permits and to validate our social licence to operate at Pinaya. Our review of data acquired with the project suggests that the high-grade copper and gold mineralization at Pinaya continues along strike from the currently defined resource area, and we will pursue that drilling in our initial program. Additionally, the current resource area covers only a small portion of the total potential exploration area of the Pinaya Project, and we anticipate a busy 2017 field season as we explore other targets along the trend." Under the terms of the strategic financing agreement between Kaizen and ITOCHU for the Pinaya Project, outlined in Kaizen's April 1, 2016 news release, ITOCHU's third and final payment of C$1.25 million, which will bring its aggregate interest in Kaizen Peru Holdings to 20%, is conditional on Kaizen obtaining the necessary environmental, archaeological and water authorizations required to conduct exploration drilling on the Pinaya Project. Upon receipt of all permits and authorization to commence these activities, Kaizen will have met the requirements for the third installment of the ITOCHU investment. Kaizen has agreed to match ITOCHU's exploration funding for the Pinaya Project, bringing the total funding to C$5 million for the planned first phase of exploration at Pinaya. The initial C$1.25 million of Kaizen's C$2.5 million funding commitment is due on or before the earlier of (i) April 18, 2017, one year after the date of ITOCHU's initial C$625,000 investment; or (ii) completion of ITOCHU's third-tranche payment. Kaizen's second funding commitment of C$1.25 million is due on or before April 18, 2018, two years after the date of completion of ITOCHU's initial C$625,000 investment. On February 6, 2017, Kaizen entered into a purchase agreement with Colorado Resources Ltd. (TSXV: CXO) whereby Colorado acquired a 100% interest in Kaizen's Castle gold-silver-copper property in northern British Columbia, subject to a 2% percent net smelter royalty payable to the underlying original vendor. In exchange for the sale of the Castle Project, Kaizen received 1,000,000 units of Colorado, with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles Kaizen to purchase a further common share in Colorado at a purchase price of $0.60 per share for a period of 24 months. Further to Kaizen's December 21, 2016, news release, Kaizen (60%) and ITOCHU Corporation (40%), are assessing various options for the Aspen Grove Copper-Gold exploration project in southern British Columbia, including a possible sale to, or joint venture with, a third party. "As we have stated before, our current focus to grow the company is on advancing the Pinaya Project and assessing other similar gold and copper-gold porphyry projects in South America," said Mr. Peregoodoff. "We will continue to look for ways to consolidate our current project portfolio to allow our team to pursue near-term opportunities which we believe have the best potential to have a meaningful impact on shareholder value." On April 29, 2016, Kaizen submitted a Section 51 application for its Coppermine Project under the Mining Regulations to the Mining Recorder for the Territory of Nunavut. Under Section 51 of the Regulations, if a claim holder is unable to do the required assessment work because the holder is, for reasons beyond the claim holder's control, waiting for a public authority to give an authorization or decision without which the work cannot proceed, the claim holder may request a one-year suspension of the work requirements. The company's Section 51 application pertains to the draft Nunavut Land Use Plan (DNLUP). In the DNLUP, the Kaizen mineral claims and prospecting permits are overlain by areas with proposed prohibitions and/or limitations on mining and exploration. Uncertainty regarding these designations will impact Kaizen's ability to continue its exploration activities at the Coppermine Project until the DNLUP is finalized. The company will continue to monitor the land-use issues affecting the Coppermine Project and will take the appropriate steps to protect its interests. The Pinaya Project covers 192 square kilometres and includes more than 25 kilometres of strike length within the Andahuaylas-Yauri Porphyry Belt in southeastern Peru. This belt hosts numerous productive and world-class porphyry and skarn systems, including Las Bambas, Tintaya, Constancia and Haquira. The Pinaya Project contains Mineral Resources within three contiguous zones over a 1.7-kilometre strike in the central part of the property. The project's estimated Measured resource totals 8.2 million tonnes grading 0.33% copper and 0.60 grams per tonne (g/t) of gold, for contained metal of 27,000 tonnes of copper and 158,000 ounces of gold. The project's estimated Indicated resource totals 33.5 million tonnes grading 0.32% copper and 0.46 g/t gold, for contained metal of 108,000 tonnes of copper and 497,000 ounces of gold. The project also has an Inferred resource of 40.2 million tonnes grading 0.36% copper and 0.30 g/t gold, containing 145,000 tonnes of copper and 388,000 ounces of gold. An independent NI 43-101 technical report for the Pinaya Project titled "Pinaya Gold-Copper Project Caylloma and Lampa Provinces, Peru" is available under the company's SEDAR profile at www.sedar.com and on the company's website at www.kaizendiscovery.com. The technical report, dated April 26, 2016, includes relevant information regarding the effective dates and the assumptions, parameters and methods of the Mineral Resource estimates on the Pinaya Project cited in this release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this release in respect of the Pinaya Project. More information on the Pinaya Project is available at www.kaizendiscovery.com. Kaizen's Vice President, Exploration, Charles Forster, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed, approved and is responsible for the scientific and technical information presented in this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including without limitation (i) statements regarding the expected receipt of permits and authorizations to initiate the 2017 drilling program in May or June, 2017; (ii) statements regarding the size of the 2017 drilling program, and (iii) statements regarding the timing and receipt of the third payment from ITOCHU. Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Kaizen Discovery, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this news release. Although Kaizen has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. This news release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, the anticipated tonnages and grades that will be mined and the estimated level of recovery that will be realized, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on: (i) fluctuations in gold price; (ii) results of drilling, (iii) metallurgical testing and other studies; (iv) proposed mining operations, including dilution; and (vi) the possible failure to receive required permits, approvals and licenses. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed here, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social, political or labour unrest; changes in commodity prices; limitations and availability of capital; and the failure of exploration programs or studies to deliver anticipated results (including the actual results of drilling and exploration activities), or results that would justify and support continued exploration, studies, development or operations. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Kaizen disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Kaizen does not assume any liability for disclosure relating to any other company herein.


News Article | February 28, 2017
Site: www.marketwired.com

RIMOUSKI, QUEBEC--(Marketwired - Feb. 28, 2017) - Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the "Company "or "PUMA") is pleased to release an update on the acquisition of the Murray Brook Property. As previously reported in Puma's news release on December 21st, 2016 a revised NI 43-101 compliant underground resource estimate totaling 5.28 million tonnes averaging 5.24% Zn, 1.80% Pb, 0.46% Cu, 68.9 g/t Ag and 0.65 g/t Au was completed and submitted to the TSX Venture Exchange (the "Exchange"). On February 20th, the NI 43-101 report was accepted and filed on SEDAR. On February 24th, 2017, Puma Exploration closed the purchase agreement with Votorantim Metals Canada Inc. and acquired approximately 67.9-per-cent beneficial interest in the Murray Brook zinc-lead-copper-silver volcanogenic massive sulphide (VMS) deposit. Additionally, El Nino Ventures Inc. ("ELN") and PUMA have agreed to extend the closing date for the acquisition of ELN's interest in the Murray Brook Property to, on or before, March 31st, 2017. To demonstrate that PUMA is confident that the deal will close, the Company is providing to ELN a deposit in the amount of $60,000 to be credited against the closing cash consideration for the acquisition of the Murray Brook Property. In the event that the transaction contemplated in the Asset Purchase Agreement with ELN does not close on, or before, March 31st, 2017 the $60,000 deposit will be retained by ELN. PUMA has closed the second and final tranche of its current private placement on February 24th, 2017 (see news releases of 2017-02-01 and 2017-02-24). A total of $955,050 was raised by issuing 13,643,569 units at a price of $0.07. Each unit is comprised of one common share and one full warrant entitling the holder to acquire one common share at a price of $0.15 for 24 months. PUMA's projections for 2017 in view of the purchase of the Murray Brook Deposit ("MBD") are as follows: Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the approximately 67.9-per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma's objective for the coming year is to focus its exploration efforts in New Brunswick. Canada. You are welcome to visit us at the 2017 PDAC in Toronto at the Booth #3336. You can visit us on Facebook and Twitter. Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc. The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma Exploration undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.


News Article | March 1, 2017
Site: marketersmedia.com

TORONTO, ON / ACCESSWIRE / March 1, 2017 / Crown Mining Corp. (TSX-V: CWM) (OTC PINK: CWMZF) ("Crown" or the "Company") is pleased to announce that it has completed a non-brokered private placement, previously announced on January 31, 2017 (the "Private Placement"), for aggregate gross proceeds of $220,000. The Private Placement involved the issuance of 2,200,000 units ("Units") at a price of $0.10 per Unit for gross proceeds of $220,000. Each Unit consists of one common share in the capital stock the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.20 at any time up to the date that is two years following the date of closing of the Private Placement, subject to an acceleration clause. All securities issued pursuant to this Private Placement will be subject to a four-month hold period. The indirect and direct participation in the Private Placement by insiders of the Company constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Insiders of the Company acquired directly and indirectly a total of $31,955 worth of Units or 319,550 Units in the Private Placement on the same basis as other participants. The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61-101. The Company is exempt from the formal valuation requirement of MI 61-101 based on section 5.5(b) of MI 61-101, as no securities of the Company are listed or quoted for trading on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ stock market, or any other stock exchange outside of Canada and the United States, other than the Alternative Investment Market of the London Stock Exchange or the Plus, operated by Plus Markets Group plc. Additionally, the Company is exempt from obtaining minority shareholder approval in connection with the Private Placement by relying on section 5.7(1)(b) of MI 61-101 as, in addition to the foregoing, (i) neither the fair market value of the Units nor the consideration received in respect thereof from "interested parties," as defined by MI 61-101, would exceed $2,500,000, (ii) the Company has one or more independent directors in respect of the Private Placement who are not employees of the Company, and (iii) all of the independent directors have approved the Private Placement. A material change report in connection with the Private Placements will be filed less than 21 days before the closing of the Private Placement. This shorter period is reasonable and necessary in the circumstances, as the Company wished to complete the Private Placements in a timely manner. The Company will use the proceeds of the Private Placement for exploration and development work at its Moonlight-Superior Copper Project and for general working capital purposes. In addition, as part of the moonlight property acquisition previously announced on February 29, 2016, the Company has issued the 750,000 common shares to Canyon Copper Corp. due on or before 5 days after the first anniversary of the agreement. As per TSX Venture policy, these shares issued pursuant to the agreement were recorded as a shares for debt transaction with a deemed value of $60,000. These common shares will be subject to a four-month hold period. Lastly, the Company announces that incentive stock options to purchase up to 650,000 common shares of the Company have been granted to various officers, directors, and consultants of the Company pursuant to the Company's stock option plan and subject to any regulatory approval. Each stock option is exercisable at $0.10 for a period of three years from the grant date. Crown is focused on advancing its 100% controlled Moonlight-Superior Copper Project in Northeast California, which includes 4 known copper deposits. The Moonlight deposit hosts a current National Instrument 43-101 ("NI 43-101") indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold, and 0.112 ounces of silver per ton for 1.044 billion pounds of copper, and an inferred resource of 88 million tons (80 million tonnes) averaging 0.282% copper per ton for 496 million pounds of copper. Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. The Superior and Engels deposits have a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of 0.43% for 547 million pounds of copper. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar which also discloses a historical resource estimate for the fourth deposit. Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release. For more information, please see the Crown website at www.crowngoldcorp.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will," "anticipates," "expected to," "plans," "planned," and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements. This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The flow-through common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. TORONTO, ON / ACCESSWIRE / March 1, 2017 / Crown Mining Corp. (TSX-V: CWM) (OTC PINK: CWMZF) ("Crown" or the "Company") is pleased to announce that it has completed a non-brokered private placement, previously announced on January 31, 2017 (the "Private Placement"), for aggregate gross proceeds of $220,000. The Private Placement involved the issuance of 2,200,000 units ("Units") at a price of $0.10 per Unit for gross proceeds of $220,000. Each Unit consists of one common share in the capital stock the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.20 at any time up to the date that is two years following the date of closing of the Private Placement, subject to an acceleration clause. All securities issued pursuant to this Private Placement will be subject to a four-month hold period. The indirect and direct participation in the Private Placement by insiders of the Company constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Insiders of the Company acquired directly and indirectly a total of $31,955 worth of Units or 319,550 Units in the Private Placement on the same basis as other participants. The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61-101. The Company is exempt from the formal valuation requirement of MI 61-101 based on section 5.5(b) of MI 61-101, as no securities of the Company are listed or quoted for trading on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ stock market, or any other stock exchange outside of Canada and the United States, other than the Alternative Investment Market of the London Stock Exchange or the Plus, operated by Plus Markets Group plc. Additionally, the Company is exempt from obtaining minority shareholder approval in connection with the Private Placement by relying on section 5.7(1)(b) of MI 61-101 as, in addition to the foregoing, (i) neither the fair market value of the Units nor the consideration received in respect thereof from "interested parties," as defined by MI 61-101, would exceed $2,500,000, (ii) the Company has one or more independent directors in respect of the Private Placement who are not employees of the Company, and (iii) all of the independent directors have approved the Private Placement. A material change report in connection with the Private Placements will be filed less than 21 days before the closing of the Private Placement. This shorter period is reasonable and necessary in the circumstances, as the Company wished to complete the Private Placements in a timely manner. The Company will use the proceeds of the Private Placement for exploration and development work at its Moonlight-Superior Copper Project and for general working capital purposes. In addition, as part of the moonlight property acquisition previously announced on February 29, 2016, the Company has issued the 750,000 common shares to Canyon Copper Corp. due on or before 5 days after the first anniversary of the agreement. As per TSX Venture policy, these shares issued pursuant to the agreement were recorded as a shares for debt transaction with a deemed value of $60,000. These common shares will be subject to a four-month hold period. Lastly, the Company announces that incentive stock options to purchase up to 650,000 common shares of the Company have been granted to various officers, directors, and consultants of the Company pursuant to the Company's stock option plan and subject to any regulatory approval. Each stock option is exercisable at $0.10 for a period of three years from the grant date. Crown is focused on advancing its 100% controlled Moonlight-Superior Copper Project in Northeast California, which includes 4 known copper deposits. The Moonlight deposit hosts a current National Instrument 43-101 ("NI 43-101") indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold, and 0.112 ounces of silver per ton for 1.044 billion pounds of copper, and an inferred resource of 88 million tons (80 million tonnes) averaging 0.282% copper per ton for 496 million pounds of copper. Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. The Superior and Engels deposits have a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of 0.43% for 547 million pounds of copper. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar which also discloses a historical resource estimate for the fourth deposit. Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release. For more information, please see the Crown website at www.crowngoldcorp.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will," "anticipates," "expected to," "plans," "planned," and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements. This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The flow-through common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2017) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or the "Company") is pleased to announce that its long-term cornerstone shareholder, Pala Investments Limited ("Pala"), has agreed to make a further investment of US$5 million in the Company ("Pala Financing"). Additionally, Nevada Copper has also successfully secured extensions to the loan maturities under its existing senior term loan facility with EXP T1 Ltd, an affiliate of Red Kite Mine Finance ("Red Kite") and its loan facility with Pala. Pala is an experienced investor in the mining sector with a strong track record of successful investments and value creation. Pala's team has extensive experience in project development, financing, construction and expansion projects, and seeks to assist companies in which it has long-term shareholdings by providing strategic support in these areas. With this latest round of investment, Pala's financing support to Nevada Copper since August 2014 is in an aggregate amount of US$30 million. The Pala Financing and the amendments to the Red Kite loan facility will provide greater flexibility to Nevada Copper's balance sheet as the Company progresses its key initiatives and evaluation of various project development options at Pumpkin Hollow in a rising copper price environment. These initiatives include: In connection with these initiatives, Nevada Copper is also pleased to announce that Pala will support Nevada Copper as Technical Adviser to assist its management team in the evaluation and advancements of these projects. "Nevada Copper is pleased to have the continued ongoing support of both Pala and Red Kite. The additional funding from Pala and improved Red Kite loan terms provide Nevada Copper with the opportunity to pursue its key initiatives and evaluation of project development options as copper markets continue to improve. Pumpkin Hollow is a Tier 1 asset which has been significantly de-risked and is fully-permitted/shovel-ready with a 1,900 foot production-sized shaft with lateral development, all of which make it a unique and desirable asset in an improving copper market." Nevada Copper also wishes to announce the streamlining of its board of directors to six members with the retirement of Victor Bradley, Joe Giuffre and Paul Matysek. Nevada Copper wishes to express its gratitude to Messrs. Bradley, Giuffre and Matysek for their invaluable contributions to, and oversight of, the Company over many years. With Mr. Bradley's retirement, the Company is pleased to announce that Evgenij Iorich, a Non-Executive Director, has been appointed Non-Executive Chairman. The Pala Financing is in the form of a convertible loan subordinated to the existing Red Kite loan facility, on terms similar to Pala's existing convertible loans as disclosed in Nevada Copper's announcement dated April 5, 2016 except for certain of the terms described below, and adjusted conversion prices for the new US$5 million loan tranche, as follows: The maturity of Pala's outstanding convertible loans has also been extended to December 31, 2018 such that the maturity is aligned with that of the new loan tranche. In connection with the financing, Pala will be issued 2.5 million warrants with a 3-year term with an exercise price at C$0.97, being a 25% premium to the average 20-day VWAP closing market price of the common shares of the Company on February 24, 2017. The closing of the Pala Financing is subject to customary conditions precedent including receipt of approval of the Toronto Stock Exchange. The receipt of disinterested shareholders' approval is required for the conversion features of the Pala Financing, as detailed above, but this will not delay closing which is expected to occur on or before March 10, 2017. The Pala Financing is a related party transaction of Nevada Copper for purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions and is subject to the formal valuation and minority approval requirements thereof, unless an exemption is available. The Pala Financing is exempt from such requirements since, at the time the transaction was agreed to, the fair market value of the transaction did not exceed 25 per cent of Nevada Copper's market capitalization. The Pala Financing was reviewed and approved by Nevada Copper's board of directors (with all Pala's nominee directors abstaining from voting). Under the amendments to the Red Kite loan facility, monthly interest payments for March to June 2017, estimated at US$4.8 million, will be prepaid from proceeds of the Pala Financing. Interest payments for the balance of 2017 and 50% of the 2018 monthly interest will be accrued. The milestone deadlines for project construction drawdown conditions to be satisfied and the date for first loan principal repayment have both been extended to December 31, 2018. The Pumpkin Hollow copper development is located entirely on private land close to infrastructure with all required power and water supplies secured. With the project entirely on private land, all required Nevada permits for construction and mine operations are in hand (no federal permits are required). With many analysts forecasting improving copper markets over the next few years, the Company's Pumpkin Hollow Copper Project represents an attractive, "shovel-ready", fully-permitted copper project located in an ideal mine-friendly location.

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