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Condor Provides Update on a Feasibility Study for the La India Project

SURREY, UK / ACCESSWIRE / October 19, 2021 / Condor Gold (AIM:CNR)(TSX:COG) is pleased to provide an update on the status of studies underway in support…

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SURREY, UK / ACCESSWIRE / October 19, 2021 / Condor Gold (AIM:CNR)(TSX:COG) is pleased to provide an update on the status of studies underway in support of a Feasibility Study (“FS”) for its fully permitted La India Project, Nicaragua. The FS is being conducted on La India Open Pit and associated mine site infrastructure. The FS Studies currently underway will bring the level of confidence for the Project to the industry standard of engineering design, in order to support +/- 15% capital and operating cost estimates. Work is well underway with supporting field and testing studies nearing completion for the final mine design to commence in November 2021, with publication of the FS in the 1st quarter of 2022.

Highlights: Feasibility Studies Progress

  • Processing plant design incorporating the 2,300tpd SAG Mill purchased by Condor, has been 100% completed. Associated infrastructure designs and costs are under development.
  • A surface water hydrological model has been 100% completed, which feeds into the Site Wide Water Balance, with the supporting documentation due by the end of October. Detailed water management structure designs are underway.
  • Tailings Storage Facility (“TSF”) design has been 100% completed, the draft report was delivered to Condor during the first week in October. The report is under review by Condor, with the material take-offs for construction passed to Hanlon Engineering for cost estimation.
  • The stormwater attenuation structure at La Simona is under design and is 90% completed. As with the TSF, the material take-offs will be passed to Hanlon to estimate the construction costs.
  • Metallurgical Studies – Analytical work is 95+% completed. A draft report is due by the end of October.
  • Mineral Resource Estimate update. All assays from the infill drilling program have been received. Updates to the geological framework inclusive of the lithological, structural and weathering model are approximately 80% complete. Once completed the Mineral Resource estimate update for La India will commence.
  • Pit Geotechnical – a review of the initial round of 1700 m of geotechnical drilling by SRK indicated that an additional 690m of oriented core drilling, followed by televiewer logging, will be required to meet FS level confidence. Completion of the drilling and logging is expected by mid November, with televiewer inspection to be conducted upon completion of each hole.
  • Hydrogeology / pit water management – Condor successfully intercepted the deepest level of the 1950s-era underground mine workings in hole LIDC 178, providing confidence that said workings are suitable to tap in to, in order to draw down ground water levels and support depressurization of the pit slopes. A test borehole close to the historical mineshaft will be drilled in November to one of the options for the location of the long-term pumping station.

Mark Child, Chairman and CEO commented:
“I am pleased to provide an update on the development of a Feasibility Study in line with International best practices for the La India Open Pit and associated mineral processing and mine site infrastructure. Several key studies have been completed or are near completion. There are no negative surprises and the Project continues to be materially de-risked, nearing a shovel ready status. A Feasibility Study increases the confidence of the Project, incorporating a Feasibility Level engineering design, and +/- 15% capital and operating costs. This in turn will facilitate Project financing ahead of Project construction. Condor staff and our contractors at Hanlon Engineering, Tierra Group International, SGS Lakefield Laboratories and SRK Consulting (UK and USA) have been diligently pursuing the supporting work for the study for over a year and are making substantial headway in completion of that work, despite the challenges of logistics, market conditions, and of course, the impact of Covid on the ability to travel”.

Background
With the acquisition of the complete new SAG Mill package from First Majestic Silver (RNS Dated March 15, 2021), Condor initiated a series of studies intended to demonstrate feasibility-level engineering and economics for the flagship La India Open Pit. This effort included updates of the Pre-Feasibility Study (“PFS”)-Level studies conducted in 2014, along with interim studies conducted over the course of permitting and planning efforts, along with in-fill drilling targeting initial production from the La India Open Pit.

The FS Studies currently underway will bring the level of confidence for the Project to the industry standard of +/- 15% on operating costs, capital costs. The studies will cover the complete spectrum of supporting documentation, including:

  • Feasibility level design of the processing plant and associated infrastructure. 100% completed.
  • Hydrology: Detailed development of the surface water management requirements via a site-wide water balance and corresponding design of the facilities to manage surface water. 100% completed.
  • Feasibility level design of the tailings storage facility. 100% completed.
  • The stormwater attenuation structure at La Simona is under design and is 90% completed. As with the TSF, the material take-offs will be passed to Hanlon to estimate the construction costs
  • Additional metallurgical testing of the La India ore to confirm recovery, rock crushing and grinding characteristics and reagent consumption. 95% completed.
  • Mineral Resource Model: Updated geological interpretation and Resource model – combining the recent in-fill drilling on La India Open Pit with the updated interpretation. 80% completed.
  • Pit Geotechnical: More detailed analysis of the slope design parameters supported by additional geotechnical drilling
  • Hydrogeological Modelling: Comprehensive characterization of the groundwater required for pit dewatering
  • Geochemical analysis to confirm that the majority of waste rock is non acid forming with low sulphide sulphur contents
  • Updated mine plans with consideration of the above findings
  • Updated cost estimates for contract mining, plant consumables, fuel, staffing and labour
  • Review of Social and Environmental management practices and corresponding costs
  • Closure costs
  • Development of a comprehensive technical / economic model

Plant Design
Hanlon Engineering has now completed design of the processing plant and, along with Condor staff assistance, is engaged in sourcing cost estimates for construction and operating consumables from local vendors (where applicable).

Hanlon has also been awarded the design and costing of the infrastructure elements of the Project. General arrangement drawings of the plant and buildings were reviewed the week of October 8. Other than minor adjustments to the arrangement of the central office, these drawings will be sent out for FS-level cost estimates to local vendors by mid October.

Hydrological Model and Surface Water Management
The La India Project is subject to short and intense rain events during the local rainy season, necessitating a robust understanding of the surface water hydrology. Condor commissioned a study of the site wide water balance (SWWB) in November 2020 by SRK (UK) to provide the design parameters for the surface water management system, integrating the various elements from the Tailing Storage Facility (TSF) and plant design with the haul road (between the pit and processing plant) and sound berm surrounding the nearby village. The SWWB analysis has now been completed with the report due before the end of October 2021.

Design work for the various structures comprising the surface water management system is currently underway, where Tierra Group are providing the designs for critical structures, and other less material components will be awarded to local Nicaraguan design firms.

Tailing Storage Facility
The design of the TSF is now complete with the draft report under Condor review. The report package consists of the geotechnical characteristics of the foundation area for the dam, assessment of the seismic hazard potential, FS level construction drawings, and summary reports. This report will be submitted to the Government of Nicaragua following completion of the overall FS.

Tierra Group is also responsible for the design of the La Simona attenuation structure upstream of the open pit (which is 90% completed), and the sound berm between the village of La India and the open pit operations (80% completed).

Metallurgical Testing
The 2014 PFS included a robust metallurgical testing regime with results supporting a 91% commercial-scale recovery on the hard and abrasive La India ores. A follow up series of tests was conducted in 2019 produced comparable results.

Additional variability and recovery tests were conducted in support of the FS study with results again comparable to previous expectations. The recent analyses by SGS Lakefield indicated that a 40 hour retention time in the leach circuit is advisable and has also demonstrated the potential for lower reagent consumption, retaining the 75 micron size recommended in the PFS. These recommendations have been incorporated into the Hanlon Plant design and will be included in the estimated processing costs. The final few lab results are expected the week of October 18th with the full draft report delivered by the end of October.

Geological Interpretation and Resource Model Update
The current understanding of the La India deposit geology is not materially different than that underlying the 2014 PFS and the January 2019 Mineral Resource update. The recent addition of 3,370 meters of infill drilling within La India open pit in an area that comprises the initial years’ feed to the mill is expected to improve the confidence in the model associated to this period. SRK are currently in the process of updating the geological interpretation/framework for the La India deposit inclusive of the lithological, structural and weathering model as a result of the infill drilling program, which is approximately 80% complete. Once completed the Mineral Resource estimate update for La India will commence inclusive of the results from the infill drill programme.

Pit Geotechnical / Slope Stability
The studies to confirm and refine the slope design parameters applied in 2014 were initially slated for 1700 meters of oriented core drilling with support by optical or acoustic televiewer scans of the holes following the completion of drilling. Review by SRK indicated that an additional 690 meters of additional core drilling would be required to provide inputs on pit-wall locations with poor data recovery. This additional drilling commenced on October 4 and will be supplemented with a second drill rig added to the programme during the week of October 18 in order to expedite the process. Drilling, logging and televiewer scans will be completed by mid-November, pending equipment availability. Condor anticipates that the revised slope parameters will be delivered concurrently with the delivery of the updated resource model.

Hydrogeological Model
One of the requirements of the pit slope design parameters is the assumption of a dewatered / depressurized rock mass. Condor initially tested the feasibility of this assumption in a pump test conducted as part of the PFS in 2014. The current efforts to support the dewatering programme for the mining operation are designed to provide locations for dewatering infrastructure that minimize the potential impacts on mine operations, along with sufficient detail to estimate costs associated with the dewatering program.

Condor successfully reconditioned an existing exploration hole to serve as a piezometer and test bed to demonstrate connection with the historical Level 8 workings from the 1950’s era mining. This process led to a successful test of the connection, indicating that the existing workings can potentially serve as a dewatering collection system. Condor is assessing several options for a dewatering pump station, which include a pump station adjacent to the old mine shaft, or potentially intercepting/accessing of the old San Lucas drainage tunnel.

Waste Geochemistry
Previous analyses from the PFS in 2014 indicated that the waste rock produced by the La India Open Pit will be non-acid forming and is net-neutralizing, likely due to calcite in the various lithological units. Following the recommendations of CORES Consultants, Condor constructed a series of 5 barrels containing the various waste rock types exposed to normal precipitation. Two series of water samples were collected and tested locally within Nicaragua, prior to a recent conversion to SGS Laboratories in Lakefield, Ontario to achieve lower detection limits. As of this writing, the results of the two series of water analyses have indicated that only sedimentation ponds will be needed to maintain discharge water quality, although this will be confirmed with continued testing of water from the barrels and subsequent predictive modelling.

SRK has requested that additional variability samples be collected and tested with industry standard static laboratory tests for ARDML assessment. The requested samples have been collected and been shipped. Condor anticipates that the testing and reporting process will require 6-8 weeks.

Waste Dump Footing Characterization
Condor has reviewed and under current assumptions indicated that sufficient capacity for anticipated waste volumes from the open pit can be stored in a single dump location to the west of the pit. In order to verify these assumptions, and as part of the FS design requirements from SRK, Condor is excavating a number of test pits at selected locations to confirm sufficient stability under the planned waste dump footprint. This work has already begun with points surveyed and access roads established to the first sample locations. Test work will consist of soils logging, shear vane tests and percolation tests.

Mining Studies
In parallel to the recently reported PEA (see RNS 9 September 2021) Condor included preliminary designs of the La India Open Pit. While the 2300 tpd production schedules included conformance with the PFS design parameters, including the PFS slope stability parameters and inclusion of ramps, as well as production of a series of phase plans to optimise access to mineralise material, these were also intended as preliminary production schedules to support initial bid packages to be sent out to local mining contractors. The final pit designs will be updated based on the updated Mineral Resource estimate, along with any changes resulting from the Geotech / Slope stability and hydrogeological and hydrological studies.

For further information please visit www.condorgold.com or contact:

Condor Gold plc

Mark Child, Chairman and CEO

+44 (0) 20 7493 2784

Beaumont Cornish Limited

Roland Cornish and James Biddle

+44 (0) 20 7628 3396

SP Angel Corporate Finance LLP

Ewan Leggat
+44 (0) 20 3470 0470

H&P Advisory Limited

Andrew Chubb and Nilesh Patel

+44 207 907 8500

Blytheweigh

Tim Blythe and Megan Ray

+44 (0) 20 7138 3204

About Condor Gold plc:
Condor Gold plc was admitted to AIM in May 2006 and dual listed on the TSX in January 2018. The Company is a gold exploration and development company with a focus on Nicaragua.

In August 2018, the Company announced that the Ministry of the Environment in Nicaragua had granted the Environmental Permit (“EP“) for the development, construction and operation of a processing plant with capacity to process up to 2,800 tonnes per day at its wholly-owned La India gold Project (“La India Project”). The EP is considered the master permit for mining operations in Nicaragua.

La India Project contains a Mineral Resource of 9,850 Kt at 3.6 g/t gold for 1.14 M oz gold in the Indicated category and 8,479 Kt at 4.3 g/t gold for 1.18 M oz gold in the Inferred category. A gold price of $1,500/oz and a cut-off grade of 0.5 g/t and 2.0 g/t gold were assumed for open pit and underground resources, respectively. A cut-off grade of 1.5 g/t gold was furthermore applied within a part of the Inferred Resource. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resources will be converted to Mineral Reserves.

Environmental Permits were granted in April and May 2020 for the Mestiza and America open pits respectively, both located close to La India. The Mestiza open pit hosts 92 Kt at a grade of 12.1 g/t gold (36,000 oz contained gold) in the Indicated Mineral Resource category and 341 Kt at a grade of 7.7 g/t gold (85,000 oz contained gold) in the Inferred Mineral Resource category. The America open pit hosts 114 Kt at a grade of 8.1 g/t gold (30,000 oz) in the Indicated Mineral Resource category and 677 Kt at a grade of 3.1 g/t gold (67,000 oz) in the Inferred Mineral Resource category. Following the permitting of the Mestiza and America open pits, together with the La India Open Pit Condor has 1.12 M oz gold open pit Mineral Resources permitted for extraction.

Reporting Standards
The reporting standard adopted for the reporting of the Mineral Resource Estimate (“MRE”) uses the terminology, definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves (May 2014) as required by NI 43-101 (“The CIM Code”). The CIM Code is an internationally recognised reporting code as defined by the Combined Reserves International Reporting Standards Committee.

The 2021 PEA Technical Report will be issued within 45 days of the public disclosure in accordance with the public disclosure to NI 43-101 standards.

Disclaimer
Neither the contents of the Company’s website nor the contents of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into, or forms part of, this announcement.

Qualified Persons
The Mineral Resource Estimate has been completed by Ben Parsons, a Principal Consultant (Resource Geology) with SRK Consulting (U.S.) Inc, who is a Member of the Australian Institute of Mining and Metallurgy, MAusIMM(CP). He has some nineteen years’ experience in the exploration, definition and mining of precious and base metals. Ben Parsons is a full-time employee of SRK Consulting (U.S.), Inc, an independent consultancy, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) of the Canadian Securities Administrators and as required by the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Ben Parsons consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

The Qualified Persons responsible for the Technical Report are Dr Tim Lucks of SRK Consulting (UK) Limited, and Mr Fernando Rodrigues, Mr Stephen Taylor and Mr Ben Parsons of SRK Consulting (U.S.) Inc. Mr Parsons assumes responsibility for the MRE, Mr Rodrigues the open pit mining aspects, Mr Taylor the underground mining aspects and Dr Lucks for the oversight of the remaining technical disciplines and compilation of the report.

The technical and scientific information in this press release has been reviewed, verified and approved by Gerald D. Crawford, P.E., who is a “qualified person” as defined by NI 43-101 and is the Chief Technical Officer of Condor Gold plc.

The technical and scientific information in this press release has been reviewed, verified and approved by Andrew Cheatle, P.Geo., who is a “qualified person” as defined by NI 43-101.

Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are ‘forward-looking information’ with respect to the Company within the meaning of applicable securities laws, including statements with respect to: the ongoing mining dilution and pit optimisation studies, and the incorporation of same into any mining production schedule, future development and production plans at La India Project. Forward-looking information is often, but not always, identified by the use of words such as: “seek”, “anticipate”, “plan”, “continue”, “strategies”, “estimate”, “expect”, “Project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, “could”, “might”, “will” and similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions regarding: future commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; the receipt of required permits; royalty rates; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing and assumptions underlying estimates related to adjusted funds from operations. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Such forward-looking information involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to: mineral exploration, development and operating risks; estimation of mineralisation and resources; environmental, health and safety regulations of the resource industry; competitive conditions; operational risks; liquidity and financing risks; funding risk; exploration costs; uninsurable risks; conflicts of interest; risks of operating in Nicaragua; government policy changes; ownership risks; permitting and licencing risks; artisanal miners and community relations; difficulty in enforcement of judgments; market conditions; stress in the global economy; current global financial condition; exchange rate and currency risks; commodity prices; reliance on key personnel; dilution risk; payment of dividends; as well as those factors discussed under the heading “Risk Factors” in the Company’s annual information form for the fiscal year ended December 31, 2020 dated March 31, 2021 and available under the Company’s SEDAR profile at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Technical Glossary

Assay The laboratory test conducted to determine the proportion of a mineral within a rock or other material. Usually reported as parts per million which is equivalent to grams of the mineral (i.e., gold) per tonne of rock
ARDML Acid rock drainage and metal leaching
Au Gold
Grade The proportion of a mineral within a rock or other material. For gold mineralisation this is usually reported as grams of gold per tonne of rock (g/t)
g/t grams per tonne
Indicated Mineral Resource That part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.
Inferred Mineral Resource That part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited, or of uncertain quality and reliability,
IRR The Internal Rate of Return (IRR) is the discount rate that makes the net present value (NPV) of a project zero. In other words, it is the expected compound annual rate of return that will be earned on a project or investment
Kt Thousand tonnes
Mineral Resource Estimate A concentration or occurrence of material of economic interest in or on the Earth’s crust in such a form, quality, and quantity that there are reasonable and realistic prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated from specific geological knowledge, or interpreted from a well constrained and portrayed geological model.
NI 43-101 Canadian National Instrument 43-101 a common standard for reporting of identified mineral resources and ore reserves
NPV Net Present Value (NPV) is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present. NPV analysis is a form of intrinsic valuation and is used extensively across finance and accounting for determining the value of a business, investment security, capital project, new venture, cost reduction program, and anything that involves cash flow. It is after deducting the upfront capital cost
Open pit mining A method of extracting minerals from the earth by excavating downwards from the surface such that the ore is extracted in the open air (as opposed to underground mining).
Vein A sheet-like body of crystallised minerals within a rock, generally forming in a discontinuity or crack between two rock masses. Economic concentrations of gold are often contained within vein minerals.

SOURCE: Condor Gold plc

View source version on accesswire.com:
https://www.accesswire.com/668637/Condor-Provides-Update-on-a-Feasibility-Study-for-the-La-India-Project







Author: Condor Gold plc

Today’s News

Nevada Copper Provides Update on Operational Advances

YERINGTON, Nev., Nov. 30, 2021 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”)…

YERINGTON, Nev., Nov. 30, 2021 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) today provided an update on its operations, including advances at the Company’s underground mine at its Pumpkin Hollow Project (the “Underground Mine”) and an update on its 2022 development plan.

Underground Mine Operations Highlights

  • Lateral Development Rates Continue to Rise. The Company has advanced approximately 760 lateral equivalent feet in the past 30 days, a 20% increase in average daily footage from the previous 30 days. Lateral development continues on multiple headings, providing access to ore mining zones in the East South orebody and advancing development towards the East North orebody.  
  • Sugar Cube to be Blasted Shortly. The high-grade Sugar Cube zone is planned to be drilled in December and mining is expected to commence in early Q1 2022. This will be the first stope mined in the East North orebody, which is expected to have higher quality ground conditions and significantly larger stope sizes.
  • Processing Plant Operating Well. The mill continues to run at design specifications with the grinding, flotation, thickening, and concentrate filtration circuits performing well mechanically. The Company anticipates increased production and recovery rates with the addition of the Sugar Cube zone to the processing plant’s ore feed in Q1 2022.
  • Surface Ventilation Fans on Schedule. The surface ventilation fans are on schedule to arrive on site in approximately 3 weeks with installation and commissioning expected to be completed on time in line with the demands of the mine plan.

2022 Development Plan Update

  • Open Pit Drilling and Progressing. With additional funding received from the Company’s recent public equity offering, the Company intends to undertake an infill drilling campaign and to update its open pit studies to reflect opportunities for increased scale, larger resource and other optimization workstreams. Further updates on the Company’s 2022 development plan will be released shortly.

“I am pleased with the operational advances we have achieved this month, as we build on the progress from Q3,” stated Randy Buffington, President and Chief Executive Officer. “Our development rates continue to increase on a weekly basis and will soon provide access to the larger high-grade stopes, which is expected to result in increased ore feed delivered to our fully operational processing plant for a step further in our ramp-up progression.”

Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.

About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.

NEVADA COPPER CORP.
www.nevadacopper.com

Randy Buffington, President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
[email protected]
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development, production and ramp-up objectives, equipment installation, drilling programs and the completion of a new feasibility study.

Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of the COVID-19 pandemic on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information or statements are stated as of the date hereof. Nevada Copper disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s filings that are available at www.sedar.com.

Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.







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Today’s News

Giyani Announces Filing of Final Prospectus for $10 Million Bought Deal Equity Offering and Amended Technical Report

Not for distribution to U.S. newswire services or for dissemination in the United States TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp….

Not for distribution to U.S. newswire services or for dissemination in the United States

TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (“Giyani” or the “Company“), announces the filing of its final prospectus for its previously announced bought deal public offering of units to raise approximately $10 million (the “Offering“).

The Offering is led by Cormark Securities Inc. and Beacon Securities Limited (the “Co-Lead Underwriters“) pursuant to which the Co-Lead Underwriters have agreed to purchase 22,727,300 units (the “Units“) from the treasury of the Company, at a price of $0.44 per Unit for total gross proceeds to Giyani of approximately $10 million. Each Unit will consist of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant“). Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price of $0.60 per Common Share for a period of 24 months after the closing of the Offering.

The Offering is now expected to close on or about December 3, 2021.

Concurrent with the filing of the final prospectus, Giyani filed an updated and amended technical report, prepared in accordance with National Instrument 43-101 (“NI 43-101“), on its K.Hill manganese project in Botswana titled “A Mineral Resource Estimate For The Kgwakgwe Hill Manganese Project, Botswana.” The amended and restated technical report is being refiled to reflect comments received from the Staff of the Ontario Securities Commission as a part of the prospectus review process in connection with the Offering. The amended and restated technical report now includes further qualified person support for the use of proceeds, work programs and budgets of the Company disclosed in the final prospectus.

About Giyani Metals Corp.

Giyani is a mineral resource company focused on becoming one of Africa’s first low-carbon producers of high-purity electrolytic manganese precursor materials, used by battery manufacturers for the expanding electric vehicle market, through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana (the “Kanye Basin Prospects“), through its wholly-owned Botswana subsidiary Menzi Battery (Pty) Limited. The Company’s Kanye Basin Prospects consist of 10 prospecting licenses and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Project, the Otse manganese prospect and the Lobatse manganese prospect, all of which have seen historical mining activities.

Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. website at https://giyanimetals.com/

On behalf of the Board of Directors of Giyani Metals Corp.

Robin Birchall, CEO

Contact:

Robin Birchall CEO, Director
+44 7711 313019
[email protected]

George Donne
VP Business Development
+44 7866 591 897
[email protected]

Judith Webster
Corporate Secretary and Investor Relations
+1 416 453 8818
[email protected]

Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act (“U.S. Persons”), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account of benefit of, persons in the United States or U.S. Persons.

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “does not expect”, “plans”, “anticipates”, “does not anticipate”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled”, “forecast”, “budget” and similar expressions, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. Specific forward-looking statements and forward-looking information herein includes completion of the Offering.

All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani’s ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani’s ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks in how the world-wide economic and social impact of COVID-19 is managed; risks related to governmental regulations; risks related to obtaining necessary licenses and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani’s forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.

Giyani’s forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management’s beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani’s Annual Information Form, all of which are filed on SEDAR at www.sedar.com.




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Aguila American Gold Announces Name Change

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) ("Aguila" or…

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) (“Aguila” or the “Company”) Mr. Mark Saxon, CEO, announces that effective December 3rd , 2021, the name of the Company will be changed to “Aguila Copper Corp.” The name change was approved by the board of directors, in accordance with the articles of the Company, and has been accepted by the TSX Venture Exchange. On December 3rd, 2021 , the Company’s common shares will commence trading on the TSX Venture Exchange under its new name “Aguila Copper Corp.” There is no change to the Company’s trading symbol “AGL.”

We are pleased to announce the new name for the Company, which better reflects the current and future asset portfolio,” said Mr. Mark Saxon, President & CEO. “We see tremendous opportunity for the exploration and development of copper projects in supportive North American jurisdictions, and are pleased to play a role in the provision of the essential materials for the energy transition. We will soon transition to new website and brand.”

About Aguila American Gold Ltd (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E)

Aguila American Gold is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery.

ON BEHALF OF THE BOARD,

“Mark Saxon”

Mark Saxon
President & CEO

For further information, please contact:
aguila.gold
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
[email protected]

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.

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105982



aguila american gold limited

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