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KORE Mining Completes Milestone at Imperial Gold Project

KORE Mining Completes Milestone at Imperial Gold Project
PR Newswire
VANCOUVER, BC, Nov. 23, 2021

 Satisfies Spending Requirement pursuant to the Newmont Purchase Agreement
VANCOUVER, BC, Nov. 23, 2021 /PRNewswire/ – KORE Mining Ltd. (TSXV: KORE…

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KORE Mining Completes Milestone at Imperial Gold Project

PR Newswire

 Satisfies Spending Requirement pursuant to the Newmont Purchase Agreement

VANCOUVER, BC, Nov. 23, 2021 /PRNewswire/ – KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (“KORE” or the “Company“) is pleased to announce completion of a major milestone pursuant to the March 2017 Imperial Gold Project purchase agreement (“Purchase Agreement”) between the Company and Goldcorp USA Inc., a wholly owned subsidiary of Newmont Corporation.   KORE was required in the Purchase Agreement to spend over $5 million USD by the fifth anniversary of the Purchase Agreement.  KORE surpassed this requirement in mid-2021.  The only remaining requirement in the Purchase Agreement is payment of $1 million USD at the first gold pour.

Scott Trebilcock, KORE CEO commented, “KORE purchased the Imperial Gold Project to advance to production.  With robust project economics alongside complete site restoration through backfilling, stringent environmental standards and the recently announced project ACES (November 17, 2021), the net benefit to stakeholders would be significant.  The $5 million spent to date has been focused on exploration and building project support.  We look forward to continuing to build upon the long history of gold mining in the Imperial region.”

About Imperial Gold Project 

KORE owns 100% of the Mesquite-Imperial-Picacho District (“District”) which consists of over 31,000 acres of claims capturing the entire 28-kilometer trend from the operating Mesquite mine (Equinox GoldTSX:EQX) to the closed Picacho mine and including KORE’s Imperial project.  

In the District, gold is hosted in local fault structures related to a series of regional faults connecting the known District deposits.  Those three District deposits (Mesquite, Imperial and Picacho) were discovered in exposed outcrops and from placer workings.  The rest of the District is covered by alluvium and has never been systematically explored using modern techniques.   

Imperial has a mineral resource estimate in it’s technical report titled “Preliminary Economic Assessment – Technical Report, Imperial Gold Project, California, USA” with an effective date of April 6, 2020, revised and amended as of June 10, 2021 and filed on June 11, 2021, having the following highlights:

  • Robust economics: C$ 642 million NPV5%* post-tax with 52% IRR at US$1,600 per ounce gold; 
  • Low capital intensity project with only US$ 143 million pre-production capital cost;
  • 146,000 ounces gold per year over 8 years for 1.2 million ounces total production; and
  • Technically simple project: shallow open pit, run-of-mine heap leach with existing infrastructure. 

About KORE Mining
KORE Mining is focused on responsibly creating value from its portfolio of gold assets in California, USA. The Company is advancing the Imperial project towards development while continuing to explore across both district-scale gold assets.  Management and Board (35% ownership), along with strategic investor, Eric Sprott (26% owner), are aligned with all KORE shareholders with the goal of creating per share value.

Further information on KORE can be found on the Company’s website at www.koremining.com or by contacting us at [email protected] or by telephone at (888) 407-5450.

On behalf of KORE Mining Ltd.
“Scott Trebilcock”
Chief Executive Officer
(888) 407-5450

Technical information with respect to the Imperial Gold Project contained in this news release has been reviewed and approved by Marc Leduc, P.Eng, who is KORE’s COO and is the qualified person under National Instrument 43-101 responsible for the technical matters of 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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “anticipate”, “believe”, “budget”, “could”, “estimate”, “expect”, “feel”, “indicate”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should”, “will”, “would”, and similar terms and phrases, including references to assumptions. All statements other than statements of historical fact, included in this news release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements.  Forward-looking statements in this news release include, but are not limited to, statements with respect to: the development of the Imperial Gold Project. Such forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including, among others: there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions at the Imperial Gold Project; exploration, permitting, and development of the Imperial Project being consistent with current expectations and planning; that the actual environmental and economic impacts and benefits will result; that current applicable environmental laws do not change substantially; the geological, permitting and economic advice that the Company has received is reliable and is based upon practices and methodologies which are consistent with industry standards; and other planning assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.

Additional risks and uncertainties are described under the “Risk Factors” section of the Company’s Annual Information Form for the year ended December 31, 2020 prepared as of April 29, 2021 available under the Company’s issuer profile on www.sedar.com.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward–looking information or statements or implied by forward–looking information or statements, there may be other risk factors that cause results not to be as anticipated, estimated or intended.  Accordingly, readers should not place undue reliance on forward-looking statements or information.  

The preliminary economic assessments are preliminary in nature, that include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessments will be realized. There is no certainty that all or any part of the mineral resource will be converted into mineral reserve. It is uncertain if further exploration will allow improving the classification of the Indicated or Inferred mineral resource.  Mineral resources are not mineral reserves and do not have demonstrated economic viability.

View original content to download multimedia:https://www.prnewswire.com/news-releases/kore-mining-completes-milestone-at-imperial-gold-project-301430723.html

SOURCE Kore Mining


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Opawica Files Annual Audited Financial Statements for Recovation of Cease Trade Order

  

Vancouver, B.C. – TheNewswire – January 28, 2022 – Opawica Explorations Inc. (TSXV:OPW) (FSE: A2PEAD) (OTC:OPWEF) (the “Company” or “Opawica”)…

  

Vancouver, B.C. – TheNewswire – January 28, 2022 – Opawica Explorations Inc. (TSXV:OPW) (FSE: A2PEAD) (OTC:OPWEF) (the “Company” or “Opawica”) announces that further to the news releases dated December 30, 2021 and January 14, 2022, it has completed the filing of its annual audited financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended August 31, 2021 (the “Annual Filings”) under its SEDAR profile on www.sedar.com. Therefore, it expects the Company’s Management Cease Trade Order (“MCTO”) in respect of the delayed Annual Filings to be revoked by the securities regulators in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults in due course.

The Company confirms that since the date of the Default Announcement: (i) there has been no material changes to the information set out in the Default Announcement that has not been generally disclosed; (ii) the Company is satisfying and intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

The Company would like to thank its shareholders for their patience during this time.

About Opawica Explorations Inc.

Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and in Central Newfoundland and Labrador. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan

President and Chief Executive Officer Opawica Explorations Inc.

Telephone: 604-681-3170

Fax: 604-681-3552

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company.  Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.  All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com.  These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Copyright (c) 2022 TheNewswire – All rights reserved.

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Harte Gold Announces Court Approval of Successful Bidder in Sale and Investment Solicitation Process

Harte Gold Announces Court Approval of Successful Bidder in Sale and Investment Solicitation Process
Canada NewsWire
TORONTO, Jan. 28, 2022

TORONTO, Jan. 28, 2022 /CNW/ – As announced on December 7, 2021, HARTE GOLD CORP. (“Harte Gold” or the “Comp…

Harte Gold Announces Court Approval of Successful Bidder in Sale and Investment Solicitation Process

Canada NewsWire

TORONTO, Jan. 28, 2022 /CNW/ – As announced on December 7, 2021, HARTE GOLD CORP. (“Harte Gold” or the “Company“) was granted creditor protection pursuant to an order (the “Initial Order“) granted by the Ontario Superior Court of Justice (Commercial List) (the “Court“) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA“). Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed as monitor of the Company (in such capacity, the “Monitor“).

As announced on December 20, 2021, the Court granted an order (the “SISP Order“) authorizing the Company to conduct, with the assistance of the Monitor, a sale and investment solicitation process (the “SISP“) in accordance with certain terms and conditions relating thereto (the “SISP Procedures“). As part of the SISP Order, the Court approved the Company’s execution of a subscription agreement (the “Subscription Agreement“) with 1000025833 Ontario Inc. (the “Investor“), a wholly-owned indirect subsidiary of Silver Lake Resources Limited (ASX: SLR) and the use of the Subscription Agreement as a “stalking horse bid” in the context of the SISP, in order to establish the baseline consideration for the Company’s business and assets.

As announced on January 20, 2022, in accordance with the SISP Procedures, an improved bid by the Investor had been designated as the “Successful Bid” and a Qualified Bid submitted by ANR Investments 2 B.V., an Appian affiliate, had been designated the Back-Up Bid. 

Harte Gold announces today that, at the Approval Hearing held earlier today, the Court approved the Successful Bid and granted authority to consummate the transactions provided for therein. Closing of the transactions contemplated in the Successful Bid is anticipated to occur in mid-February 2022.

The Successful Bid provides for the payment of substantially all of Harte’s liabilities, other than the Excluded Liabilities, as defined in the Successful Bid.  Neither the Successful Bid nor the Back-Up Bid provide any recovery for holders of existing equity interests in the Company.

Additional Information

Capitalized terms not otherwise defined herein have the meanings attributed to them in the SISP Procedures.

Further updates will be provided as appropriate. Copies of the Orders granted in by the Court, as well as any other information regarding the CCAA proceedings, are available on the Monitor’s website at http://cfcanada.fticonsulting.com/harte. A copy of the Successful Bid has been filed as an exhibit to the Company’s motion for the approval of the Successful Bid, which is also available on the Monitor’s website.

About Harte Gold Corp.

Harte Gold holds a 100% interest in the Sugar Zone mine located in White River, Canada. The Sugar Zone Mine entered commercial production in 2019. The Company has further potential through exploration at the Sugar Zone Property, which encompasses 81,287 hectares covering a significant greenstone belt.

Cautionary note regarding forward-looking information:

This news release includes “forward-looking statements”, within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are 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 statements.  Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar words suggesting future outcomes or statements regarding an outlook. Specific forward-looking statements in this press release include, but are not limited to, closing of the transactions being anticipated to occur in mid-February 2022 and the Company having further potential through exploration at the Sugar Zone Property. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such risks and uncertainties include, but are not limited to, the Strategic Review Process failing to result in a transaction that provides value to the Company’s stakeholders; the Company being unable to secure sufficient financing to complete the Strategic Review Process; the Company being unable to continue as a going concern; the risk that the Company will not have adequate sources of funding to finance the Company’s operations in the near future; the risk that the Company will not be able to obtain sufficient financing for working capital, capital expenditures, debt service requirements, and general corporate or other purposes; the risk that the Company has insufficient assets to meet its liabilities or satisfy its creditors; the Company being able to attract and retain qualified candidates to join the Company’s management team and board of directors, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, agreements, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with contractors and other parties and risks associated with international business activities, as well as other risks and uncertainties which are more fully described in the Company’s Annual Information Form dated March 30, 2021, and in other filings of the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive.  The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE Harte Gold Corp.


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Lincoln Announces Passing of Director Shing Lee

VANCOUVER, BC / ACCESSWIRE / January 28, 2022 / Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) announces with great sadness the sudden…

VANCOUVER, BC / ACCESSWIRE / January 28, 2022 / Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV:LMG) announces with great sadness the sudden passing of Mr. Shing Lee, a director of Lincoln since 2019. In addition to his tenure with the Company, Mr. Lee was a prominent businessman in Hong Kong and Chief Executive Officer of Wuling Motors Holdings Ltd., a publicly listed automotive company in Hong Kong. His commitment, guidance and support will be greatly missed.

Paul Saxton, Chief Executive Officer of the Company commented: “We are deeply saddened by the news of Mr. Lee’s passing. He was a well-liked and much respected colleague and we will greatly miss his friendship, guidance and unwavering support. On behalf of the management and staff, we are grateful for all his contributions to the Company and extend our deepest condolences to his family, friends and colleagues during this incredibly difficult time”.

On behalf of Lincoln Gold Mining Inc.
Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: saxton@lincolnmining.com

About Lincoln Gold Mining Inc.

Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Lincoln is working with the United States Forest Service to secure the permits necessary to develop the property into a low-cost open pit heap leach operation including a high-grade gravity circuit.

Lincoln continues the development of exploration plans for the newly acquired Shawinigan property in Quebec to evaluate the copper, nickel, and cobalt opportunities at the site. The Company has recently expanded the area of exploration to approximately 50 square kilometers.

Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln’s joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development, and production.

Lincoln holds its interests in the US projects through its wholly owned subsidiaries, Lincoln Resource Group Corp., and Lincoln Gold US Corporation, both Nevada corporations.

For more information, please contact Paul Saxton, President and CEO of the Company.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

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.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Pine Grove Gold Project, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Lincoln’s expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lincoln does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.

SOURCE: Lincoln Gold Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/686209/Lincoln-Announces-Passing-of-Director-Shing-Lee


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