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Gold Springs Resource Corp. Files Q3 2021 Financial Statements and MD&A

VANCOUVER, BC / ACCESSWIRE / November 10, 2021 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the "Company"), reports the release of its unaudited…

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VANCOUVER, BC / ACCESSWIRE / November 10, 2021 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the “Company”), reports the release of its unaudited consolidated financial statements for the three and nine months ended September 30, 2021 and the related management’s discussion and analysis of financial position and results of operations (“MD&A”). In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.

As at September 30, 2021, the Company had a working capital of $3.02 million, including $2.0 million in cash. On October 22, 2021 the Company collected CAD$4,364,315 non-dilutive funding from the previously announced sale of its World Copper Ltd. Securities (see press releases dated August 10, 2021 and October 25, 2021).

Exploration spending during the nine months ended September 30, 2021, increased to $2.44 million from $0.91 million incurred during the same period of last year. Principal activities conducted at the Gold Springs project during the nine months ended September 30, 2021, included drilling, geological mapping, road and drill pad construction, assay and environmental work as part of the 2021 drill program for advancement of the Gold Springs project.

During the nine months ended September 30, 2021, general and administrative expenses, excluding non-cash share-based payments, decreased to $0.53 million compared with $0.56 million during the nine-month period ended September 30, 2020. During the three months ended September 30, 2021, general and administrative expenses, excluding non-cash share-based payments, decreased to $0.14 million compared with $0.15 million during the nine-month period ended September 30, 2020.

During the nine months ended September 30, 2021, the Company reported a net loss of $1.14 million ($0.01 loss per share) compared with a net loss of $0.83 million ($0.00 loss per share) for the nine months ended September 30, 2020. During the three months ended September 30, 2021, the Company reported a net loss of $0.23million ($0.00 loss per share) compared with a net loss of $0.24 million ($0.00 loss per share) for the three months ended September 30, 2020. During the nine and three months ended September 30, 2021, the Company recognized a non-cash loss of $0.48 million and $0.03 million, respectively, compared with a non-cash loss of $0.30 million and $0.10 million, respectively, during the nine and three months ended September 30, 2020, for its equity investment in World Copper Ltd. (WCU:TSXV).

Outlook

The Company’s focus is on the exploration and expansion of the mineral resources at its Gold Springs project in Nevada and Utah, USA, where the Company is currently drilling.

About Gold Springs Resource Corp.

Gold Springs Resource Corp. (TSX:GRC and OTCQB:GRCAF) is a growth-focused gold exploration company creating value through the exploration and development of the Gold Springs project in Nevada and Utah, U.S.A. Management has extensive experience in global exploration and the mining industry.

Gold Springs Resource Corp. Contact:
Antonio Canton
Chief Executive Officer
[email protected]
+1 (778) 801-1667

Forward-Looking Statements

Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “believe”, “continue”, “will”, “should”, and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, uncertainties relating to the availability and cost of funds; additional closings of the secured rights offering; uncertainties and risks relating to the expansion of the Gold Springs Project and Resource Expansion Program, the closing of the sale of World Copper shares by October 22, 2021, that Wealth Minerals will have the requisite funds to complete the purchase of the World Copper shares, potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus (COVID-19), the severity of the disease, the duration of the COVID-19 outbreak, actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact and the potential negative effects of COVID-19 on the global economy and financial markets; risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of our business, the secured rights offering and of the mining industry more fully described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company’s existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company’s expectations as of the date hereof.

SOURCE: Gold Springs Resource Corp.

View source version on accesswire.com:
https://www.accesswire.com/672286/Gold-Springs-Resource-Corp-Files-Q3-2021-Financial-Statements-and-MDA










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Magna Terra Minerals Inc. to Present at Virtual Investor Day V – December 6 – 8 2021

TORONTO, ON / ACCESSWIRE / November 30, 2021 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSX-V:MTT) is pleased to announce that it will…

TORONTO, ON / ACCESSWIRE / November 30, 2021 / Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V:MTT) is pleased to announce that it will be presenting at Virtual Investor Day V (“VID V”) sponsored by Laurentian Bank Securities.

Mr. Lew Lawrick, President and CEO will provide an in-depth update on the Company at 4:00 PM ET, December 7, 2021.

VID V provides a unique and completely interactive experience for feature companies and participants. Feature companies will have 30 minutes to outline their investment opportunity, while stakeholders and the audience will be invited to engage via live commentary, direct Q&A with management, polls, and other interactive tools during each presentation. The register for VID V, please click the link: https://www.bigmarker.com/vid-conferences/VID-V-Feature-Company-14

About Magna Terra

Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada. Magna Terra owns three district-scale, advanced gold exploration projects in the world class mining jurisdictions of New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its precious metals discovery on its Luna Roja Project, as well as an extensive portfolio of district scale drill ready projects available for option or joint venture.

About VID

VID events, conferences and content are focused on the investor. We create meaningful opportunities for investors to have authentic discussions with companies from a cross section of industries and we feature keynotes from some of the industry’s best thought leaders. At VID, our goal is to help investors make informed decisions. You can find out more about VID here https://vidconferences.com/

For further information, please contact:

Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: [email protected]
Website: www.magnaterraminerals.com

Joanne Jobin, Principal

IR.INC | Capital Markets Advisory & Services

[email protected] www.irinc.ca

Cora Klein

Director, Business Development, VID

[email protected] www.vidconferences.com

SOURCE: Magna Terra Minerals Inc.

View source version on accesswire.com:
https://www.accesswire.com/675363/Magna-Terra-Minerals-Inc-to-Present-at-Virtual-Investor-Day-V–December-6–8-2021






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Enduro Issues Final 4 Million Shares to Acquire 100% of Newmont Lake Project

Kelowna, British Columbia–(Newsfile Corp. – November 30, 2021) – Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) ("Enduro Metals" or…

Kelowna, British Columbia–(Newsfile Corp. – November 30, 2021) – Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to announce that it has issued the remaining 4 million shares to Romios Gold Resources Inc. (“Romios“) pursuant to the option agreement to acquire 100% of the Newmont Lake Project.

100% Ownership Earn-In Developments

To date, Enduro Metals has issued to Romios 8 million shares, $1 million cash and has incurred in excess of $14 million of expenditures related to exploration and evaluation activities.

Enduro recently delivered Romios 4 million shares (total to date 12 million shares) subject to “lock-up” provisions where 1 million shares are restricted for 6 months, and 3 million shares are restricted for 12 months as of November 29th, 2021. The shares are also subject to a hold period of four months and a day from the date of issuance, in accordance with applicable securities laws.

To exercise its 100% option interest, Enduro is required to make a final $1 million cash payment by February 22, 2022. Romios will retain a 2% NSR on the property with a 5 km area of interest of which Enduro may reduce to 1% for a total of $4 million CAD at anytime.

About Enduro Metals

Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 654km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. The remaining 202 km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.

On Behalf of the Board of Directors,
ENDURO METALS CORPORATION

Cole Evans
President/CEO

For further information please contact:

Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474

Email: [email protected]
https://www.endurometals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Enduro’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking information in this document includes, but is not limited to results, expectations concerning the exercise of the Romios option, geological and mineralization interpretations and other statements that are not historical in nature. Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company’s business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; ; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Enduro to implement its business strategies; competition; and other assumptions, risks and uncertainties.

This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance, or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance, or achievements to differ from those anticipated, estimated or intended.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

For US Investors

Enduro Metals cautions that this release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Information included in this media release has been prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission and information contained herein may not be comparable to similar information disclosed by U.S. companies.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105915



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Aurwest Resources Reports Strong Third Quarter Results

Calgary, Alberta–(Newsfile Corp. – November 30, 2021) – Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is pleased to announce that…

Calgary, Alberta–(Newsfile Corp. – November 30, 2021) – Aurwest Resources Corporation (CSE: AWR) (“Aurwest” or the “Company“) is pleased to announce that effective November 29, 2021 the Company has filed its September 30, 2021 third quarter financial statements (“Financial Statements“), management’s discussion and analysis (“MD&A“), and quarterly certifications for the three and nine-month period ended September 30, 2021. The Financial Statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and interpretations of the International Financial Reporting Interpretations Committee.

HIGHLIGHTS AND SIGNIFICANT EVENTS FOR NINE MONTHS ENDED SEPTEMBER 30, 2021

  • On February 9, 2021, the Company announced the Phase 1 exploration program for its Paradise Lake gold project. An experienced team of geologists and prospectors have been assembled to conduct the planned exploration activities. The exploration program will fulfill the first year $500,000 commitment under the option agreement.
  • On February 25, 2021, 10,625 agent warrants and 155,407 share purchase warrants exercisable at $0.20 expired unexercised.
  • On February 28, 2021, the Company appointed Mrs. Amy Stephenson as VP Finance and Chief Financial Officer of the Company. Mrs. Stephenson has over 20 years’ experience in the capital markets and as CFO of public companies. Prior to being CFO of some of the largest US and Canadian cannabis companies, Mrs. Stephenson was CFO of mining and oil and gas exploration companies for 10 years.
  • On March 26, 2021, the Company granted 2,800,000 stock options to directors, officers, and consultants. The stock options have a term of two years and are exercisable at a price of $0.14 per option.
  • On March 30, 2021, the Company held its annual general meeting via conference call. The meeting among other matters, passed a special resolution approving the removal of the Company’s current Articles in their entirety and replacing them with new Articles.
  • On April 6, 2021, Dahrouge Geological Consulting completed a National Instrument 43-101 report on the Company’s Stellar porphyry copper project in British Columbia. This report has been filed on SEDAR.
  • On April 19, 2021, the Company entered into option agreement with Tenacity Gold Mining Company Ltd. to earn 100% interest in a 24,200 hectares (242 sq. km.) property contiguous with the Company’s existing Paradise Lake gold project, known as the Stony Caldera Gold Property in Central Newfoundland.
  • On April 27, 2021, the Company issued 16,000 shares for services provided.
  • On May 12, 2021, 75,000 agent warrants with exercise price of $0.10 were exercised.
  • On May 13, 2021, the Company settled a loan payable to a creditor of $13,091.
  • On May 26, 2021, the Company announced at non-brokered private placement to raise up to $2,550,000 of flow-through and non-flow through shares with lead order from Mr. Eric Sprott of $1,500,000.
  • On May 31, 2021, due to demand from investors, the Company upsized the private placement to $5,000,000. Mr. Eric Sprott increased his investment to $2,000,000.
  • On June 16, 2021, the Company closed the non-brokered flow-through and non-flow through financing with total gross proceeds of $5,310,184 of which $2,296,906 are flow-through funds.
  • On July 29, 2021, 250,000 share purchase warrants exercisable at $0.16 per share expired unexercised.
  • On August 3, 2021, the Company staked two claim groups covering 2,278 ha. on adjoining ground to the Stellar property.
  • On September 30, 2021, the Company completed the purchase of a 50% interest in the Stars Property from Pacific Empire Minerals Corp. for cash payment of $350,000 and a net smelter return of 2% with the right to repurchase at any time 1% of the NSR for $1,000,000. The Stars Property is a copper porphyry project consists of 2,136 hectares and is contiguous to the Company’s Stellar Property in central British Columbia.
  • On September 30, 2021, the Company announced a normal course issuer bid (“NCIB”) to purchase up to 4,801,431 common shares through the facilities of the CSE. The provisions of the bid allow for a maximum of 5% of the total outstanding common shares of the Company to be purchased for cancellation during the period September 30, 2021 to September 30, 2022. Any common shares of the Company purchased pursuant thereto are to be cancelled. As of September 30, 2021, the Company has purchased 150,000 common shares.

Colin Christensen, President and Chief Executive Office of the Company stated, “Aurwest is one of the largest landholders in the new evolving gold district in central Newfoundland. With the success of our financing in June, the Company is in a strong financial position, and is poised to build shareholder value through expansion and acceleration of its exploration program and property acquisition.”

All amounts presented herein are in Canadian dollars, unless stated otherwise.

On Behalf Of Aurwest Resources Corporation

Colin Christensen
President and Chief Executive Officer

For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: [email protected]ources.com
Website: www.aurwestresources.com

About Aurwest Resources Corporation
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration and development of gold, silver and other precious and base metal properties in North America. The Company currently holds on option on the Paradise Lake and Stony Caldera gold projects in Central Newfoundland, that covers approximately 45 kms of strike length (47,800 hectares of 478 sq. km.) a regional scale mineralized structure that hosts the Valentine Lake gold deposit located to the southwest and the Moosehead gold discovery located northeast of the property. Aurwest also currently holds a 100% interest in the 24,533 hectare Stellar copper/gold project, plus a 50% interest in the adjoining Stars Property, a copper porphyry project covering 2,136 hectares located approximately 65 kms southwest of Houston, British Columbia.

Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105898








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