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Goldseek Intersects 0.96 g/t Gold over 19.9 Metres in East Zone Extension at Beschefer

Highlights:

0.96 g/t gold over 19.9 metres,including 1.56 g/t gold over 7.0 metres, in a 90-metre north-east step-out hole in an area of limited historical…

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Highlights:

  • 0.96 g/t gold over 19.9 metres,including 1.56 g/t gold over 7.0 metres, in a 90-metre north-east step-out hole in an area of limited historical drilling.Between 30 and 200 metres of finely disseminated chalcopyrite in these three step-out holes supporting copper potential with base metal results still outstanding.  

  • Final rushed intervals completed during Goldseek’s maiden 5,000-metre program  

  • 15 of 17 holes returned gold values highlighted by 4.92 g/t gold over 28.65 metres (141 Metal Factor),including 11.39 g/t gold over 9.1 metres, the 2nd best intercept on the Property to date in terms of grade and thickness (BE-21-02).  

  • A follow-up drill program is being planned, and commencement is targeted for late January 

 

November 25, 2021 – TheNewswire – London, OntarioGoldseek Resources Inc. (CNSX:GSK.CN) (FSE:4KG) (OTC:GSKKF) (“Goldseek” or the “Company”) is pleased to announce results from the final three drill holes at the Beschefer Project, located approximately 30 kilometres southwest of Wallbridge Mining Company Limited’s (“Wallbridge”) Fenelon Gold Project on the Detour Gold Trend. BE-21-14 intersected 0.96 g/t gold over 19.9 metres, including 1.56 g/t gold over 7.0 metres, encountered in a 90-metre step-out hole in the East Zone.

FIGURE 1 – BESCHEFER ZONE LONG SECTION


Click Image To View Full Size

 

The drill grid was designed to validate and extend the modelled Central Shallow Zone and East Zone, covering approximately 700 metres of strike length following a general north-east trend. The mineralization extends from the bedrock interface down to a vertical depth of about 200 metres. The target structure dips at 40° to the southeast.

 

Holes reported aimed at finding the extension to the northeast at an average distance of 100 metres using three holes, BES-21-12 to BES-21-14, totalling 1,050 metres and forming a staggered fence. The program has successfully identified a possible robust extension to the mineralized system following a trend that can be evaluated at N060 degrees based on gold grade and lithological correlations. The historical drill coverage going eastward is nearly absent, possibly due to the lack of clear geophysical signals.


Click Image To View Full Size

VIDEO: Goldseek CEO Update

Goldseek’s President & CEO Jon Deluce states, “We are very excited to announce these final extension holes from our maiden 5,000-metre program at Beschefer. BE-21-14 extends the East Zone to the northeast by 90 metres and supports the expansion potential of the Project. This hole encountered strong chalcopyrite over varied metric lengths. With all chalcopyrite occurrences combined, it results in a large envelope reaching 100 metres of core length. We look forward to receiving the base metals results, which are still outstanding.

 

We have started to plan our follow-up winter drill program with a targeted start in January 2022. Over the coming weeks, we will provide an updated 3D model and an overview of our drill strategy for our winter follow-up program.”

 

East Zone Extension Highlights

 

The best intercept from the East Zone was BE-21-14 with 0.96 g/t over 19.9m, including 1.56 g/t over 7.0m located at a vertical depth of around 150 metres. The mineralized interval is hosted in a breccia highlighted by the heterogenous composition of alteration assemblage in the form of cloudy secondary feldspath, quartz, iron carbonate and sericite. Fine pyrite is located in the porosity, disseminated or concentrated in a fine stringer at various concentrations between 1 and 5%. Hole BE-21-14 intersected the mineralized structure about 100 metres down dip from historical hole B14-21 characterized by anomalous gold values.

 

Hole BE-21-12 returned a low-grade interval of 0.36 g/t over 6.75 metres, including 1.03 g/t over 1.3m. In this case, the gold enrichment straddles the faulted contact between a carbonatized and ductilly deformed mafic host rock and a feldspathized breccia at the footwall developed in intermediate flows. Hole-21-12 intercepted the mineralized structure 125 metres down dip from BE-21-14.

 

No significant results were obtained from the targeted structure in hole BE-21-13. A strong chloritized ductile deformation zone was cut over 20 metres in length. This last hole is offset from BE-21-13 and BE-12-14 by about 30 metres along strike. As for BE-21-13, It has intercepted the targeted structure about 100 metres down dip from BE-21-14.

 

Overall, the East Zone geological environment is distinct with the predominance of felsic rocks at the hanging wall of the gold-bearing structure, collared and crosscut over 150 to 200-metre lengths. In this context, partial quartz-sericite alteration affects an interlayered sequence of porphyric felsic flows and volcanic breccia layers. Pyritization is widespread with common disseminated and fractures filling chalcopyrite. Described chalcopyrite occurrences represent continuous intervals going from 30 to 230 metres along holes lengths.

 

RUSHED RESULTS FROM FINAL 3 HOLES

 

Hole ID

From (m)

To (m)

Length (m)

Gold (g/t)

East Zone – Step Out

BE-21-14

190.4

210.3

19.9

0.96

Including

199

206

7.0

1.56

         

BE-21-12

316.75

323.5

6.75

0.36

Including

321

322.3

1.3

1.02

         

BE-21-13

NSV

* Stated lengths are core lengths as drilled. True widths are estimated to be between 85% and 100% of reported core length intervals.

 

Figure 2: BE-21-14, mineralized interval showing the brecciated texture

Results from individual samples displayed: 0.745 g/t (E6442371), 2.26 g/t (E644374), 0.657 (E6442378)

 


Click Image To View Full Size

 

Hole ID

Easting UTM

Northing UTM

Length (m)

DIP

Azimuth

BE-21-12

660961

5516033

400

-65

     340

BE-21-13

660992

5516126

350

-68

340

BE-21-14

660902

5516197

300

-65

340

The program was carried out under the supervision of Martin Demers, P.Geo and a consultant for Goldseek Resources, the qualified person responsible for this news release. The field program was run by SL Exploration. The drill core was split at the Technominex facility in Rouyn-Noranda with half sent to AGAT Labs in Val D’Or, QC, and fire assayed with an AA and gravimetric finish. Assays on metallic sieving are performed on whole samples greater than 10 g/t gold and samples containing visible gold. Duplicates, standards and blanks were inserted into the sample stream.

About the Beschefer Project:

  • Advanced gold exploration project with significant near-term resource potential 

  • Located in a favourable orogenic gold setting 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Gold Project. 

  • Highlights of the best intersections include 55.63 g/t gold over 5.57 sin hole BE13-038 (including 224 g/t over 1.23m ; 13.95 g/t over 0.68m and 13.70 g/t over 0.73m), 13.07 g/t gold over 8.75 s in hole B12-014 (including 58.5 g/t over 1.5m), 3.56 g/t gold over 28.4 s in hole B14-006 (including 7.42 g/t over 5.5m), 10.28 g/t gold over 8.00 s in hole B14-35 (including 86.74 g/t over 0.60m), and 12.40 g/t gold over 3.78 s in hole B11-003. True width in these sections vary between 89% and 99% of the intercepted width. 

  • The mineralization shows high-grade gold-bearing structures hosted in a lower grade envelope, highlighting the regional potential along the already defined shear zones on the Property. 

  • Continuous large-scale gold-bearing structure (B-14 Zone) with known continuity and additional known parallel mineralized shear zones. 

 

Qualified Person

This press release was reviewed and approved by Martin Demers, P.Geo,ogq No 770, who is a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.

 

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

 

For more information, please contact:

Goldseek Resources Inc.

E-mail: [email protected]

 

The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/

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

This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the Company’s future plans of Beschefer. Forward-looking statements are 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to obtain all requisite approvals, including approval of the Canadian Securities Exchange and securities regulatory authorities, if required for a transaction or financing, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop Beschefer or its other projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associates with mineral exploration, changes in general economic conditions, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects, changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Copyright (c) 2021 TheNewswire – All rights reserved.






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Tantalex Resources Corporation Provides Exploration and Corporate Update

 

Toronto, Ontario – TheNewswire – December 3, 2021 – Tantalex Resources Corporation (CSE:TTX) (CNSX:TTX.CN) (“Tantalex” or the “Corporation”),…

 

Toronto, Ontario – TheNewswire – December 3, 2021 – Tantalex Resources Corporation (CSE:TTX) (CNSX:TTX.CN) (“Tantalex” or the “Corporation”), is pleased to provide an update on its exploration and corporate activities.

Manono Lithium Tailings Project

 

Drilling on the Manono Lithium Tailings Project (the “Tailings Project”) is now completed with a total of 9,279m of aircore drilling and 980m of Cobra drilling. Sample preparation is ongoing and being sent to the ALS laboratory in Ireland for assaying. Initial batch of 1080 samples have arrived in Ireland since mid November but results are still pending due to extended delays in customs clearance.

 

Exploration on Pegmatite Corridor

 

Tantalex would also like to confirm that road and drill pad preparation to begin drilling on the near surface pegmatite occurrences along the Corridor are completed and that drilling is expected to commence in the coming days.

 

The objective with this drill program is to test near surface pegmatites in areas of known tin and tantalum occurrences for potential lithium content.

 

As indicated in our press release of November 1st, the pegmatite corridor is downstrike from the historical Manono Kitotolo mine where AVZ Minerals have recently published a 400M ton resource report with average Li2O grades of 1,65%. (AVZ Minerals, Definitive Feasibility Study, Manono Lithium & Tin Project, April 21,2020).

 

The Manono region is set to become an important tier one supplier of lithium with AVZ Minerals recently announcing an investment of USD $240 million dollars for a 24% stake in their Manono Lithium project from CATH, a private investment entity jointly owned by Mr. Pei Zhenhua and Contemporary Amperex Technology Co. Limited (“CATL”),

  

MOU with XIMEI

 

Tantalex is also pleased to announce that it is currently in ongoing discussions with Ximei Resources Holding Ltd. (“Ximei”) to enter into a definitive agreement that will replace and supersede the memorandum of understanding (the “MOU”) previously announced on February 18, 2021. Completion of such negotiation shall be subject to XIMEI’s formal confirmation and public announcement. The definitive agreement will provide the framework for a strategic partnership between Tantalex and Ximei, whereby the parties will collaborate in conducting a feasibility study and ultimately establish a tantalum refining plant in the Manono region, Tangyanika Province, in the Democratic Republic of Congo (the “Region”) should all underlying requirements set forth in the definitive agreement be fulfilled. The refining plant will be intended to treat the tantalum concentrate produced by Tantalex and other local cooperatives in the Region with whom Tantalex has established business partnerships.

 

The Region is richly endowed with coltan and cassiterite, which is often closely associated to the numerous lithium pegmatites. Based on Tantalex’s exploration and resource definition activities on the Tailings Project and along the Pegmatite Corridor, Tantalex considers that an annual production of 50-80t of net metal is achievable on its concessions. Given the eluvial and alluvial nature of the coltan and cassiterite, semi-industrial production of tantalum and tin concentrate could potentially start as early as Q3 2022 on Tantalex’s concessions.

 

Corporate update

 

Tantalex is pleased to announce that it intends to amend its articles of incorporation to give effect to a name change of the Corporation to “Tantalex Lithium Resources Corp.”, which will allow for an accurate reflection of the nature of its lithium exploration and development objectives and short-term endeavours. The name change and the amendment of the Corporation’s articles of incorporation will be subject to the approval of the shareholders and will be a matter to be voted upon during the Corporation’s next annual general and special shareholders meeting set to occur no later than as of the 3rd week of January 2022.  

 

The company also confirms that AfriMet Resources has fully exercised their 50,000,000 warrants and, as a result, their current shareholding in Tantalex stands at 28%.

 

An additional 5,000,000 warrants have been exercised and a $100,000 convertible debenture issued in 2018 in consideration of a loan has been converted into 2,520,000 common shares of the Corporation at a per-share price of $0.05, the whole in accordance with Canadian Securities Exchange guidelines.  

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Mr. Gary Pearse MSc, P. Eng, who is a “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Cautionary Note Regarding Forward Looking Statements

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

ON BEHALF OF THE BOARD

Eric Allard

President and Chief Executive Officer

 

For more information, please contact:  

Eric Allard

President & CEO

Email: [email protected]

Website: www.tantalex.ca

Tel.: 1-581-996-3007

 

Copyright (c) 2021 TheNewswire – All rights reserved.







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Today’s News

Critical Elements Closes $30 Million Bought Deal Public Offering of Units

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.MONTRÉAL, QC / ACCESSWIRE / December 3, 2021 / Critical Elements…

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

MONTRÉAL, QC / ACCESSWIRE / December 3, 2021 / Critical Elements Lithium Corporation (TSXV:CRE)(FSE:F12) (“Critical Elements” or the “Corporation“) announces that it has closed today its previously announced bought deal financing (the “Offering“). Pursuant to the Offering, Critical Elements issued 17,152,250 units of the Corporation (the “Units“) at a price of $1.75 per Unit (the “Offering Price“) for gross proceeds of $30,016,437.50. This includes 2,237,250 Units issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below) under the Offering.

Each Unit consists of one common share in the capital of the Corporation (a “Common Share“) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $2.50 for a period of 24 months following the closing of the Offering.

The Offering was completed through a syndicate of underwriters co-led by Cantor Fitzgerald Canada Corporation and Stifel Nicolaus Canada Inc. (the “Lead Underwriters“), Paradigm Capital Inc., Beacon Securities Limited and Red Cloud Securities Inc. (collectively, with the Lead Underwriters, the “Underwriters“).

As consideration for the services provided by the Underwriters in connection with the Offering, the Underwriters received: (a) a cash commission of $1,699,923.75 equal to 6% of the gross proceeds of the Offering (reduced to 3% for certain subscribers on the “President’s List“); and (b) 1,029,135 broker warrants (the “Broker Warrants“) equal to 6% of the number of Units issued under the Offering. Each Broker Warrant is exercisable to acquire one Unit of the Corporation at a price equal to the Offering Price for a period of two years after the closing of the Offering.

The vast majority of the net proceeds will be used by the Corporation to fund development of the Rose Property and also for general corporate purposes, as more fully described in the short form prospectus of the Corporation dated November 29, 2021.

The Units have been offered by way of short form prospectus in each of the provinces of Canada, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Units, Common Shares and Warrants have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and 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 terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities to, or for the account or benefit of, persons in the United States or U.S. persons, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Critical Elements Lithium Corporation

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Quebec. Rose is the Corporation’s first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, the Corporation completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at C$726 million at an 8% discount rate. In the Corporation’s view, Quebec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Quebec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

For further information, please contact:

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
[email protected]
www.cecorp.ca

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

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regard to our objectives and the strategies to achieve these objectives. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Corporation’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Corporation does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

SOURCE: Critical Elements Lithium Corporation

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https://www.accesswire.com/675934/Critical-Elements-Closes-30-Million-Bought-Deal-Public-Offering-of-Units






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Giyani Closes Bought Deal Public Offering Raising Gross Proceeds of $11.5 Million

Not for distribution to U.S. newswire services or for dissemination in the United States TORONTO, Dec. 03, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp….

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

TORONTO, Dec. 03, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (“Giyani” or the “Company“), is pleased to announce that it has today closed its previously announced bought deal equity public offering (the “Offering“). A total of 26,136,395 units of the Company (the “Units“) were issued at a price of $0.44 per Unit for gross proceeds of approximately $11.5 million, which included the exercise in full of the over‐allotment option granted by the Company to the Underwriters (as defined below). Each Unit consists of one (1) common share (each, a “Common Share“) and one half of one (½) Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.60 until December 3, 2023.

The Offering was co-led by Cormark Securities Inc. and Beacon Securities Limited (together, the “Underwriters“). In connection with the Offering, the Underwriters received a cash commission equal to 5.5% of the gross proceeds of the Offering, other than in respect of sales of Units to certain purchasers on a president’s list, as agreed upon between the Company and the Underwriters (of which a cash commission of 2.0% of the gross proceeds realized from such sales was paid). Giyani also issued an aggregate of 1,381,241 broker warrants to the Underwriters that entitle the holders thereof to purchase Common Shares until December 3, 2023 at a purchase price of $0.44 per Common Share. The Units were qualified for distribution by way of a short‐form prospectus dated November 30, 2021 (the “Prospectus“) filed with the securities commissions in each of the provinces of Canada, except Québec.

The net proceeds of the Offering will be used for the advancement of the Company’s manganese oxide projects in Botswana, including the K.Hill Project, and for working capital and general corporate purposes, all as further described in the Prospectus.

The Offering is subject to the final acceptance of the TSX Venture Exchange.

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”, including but not limited to statements in respect of the final acceptance of the TSX Venture Exchange and the use of the net proceeds of the Offering. 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.

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 and the Prospectus, all of which are filed on SEDAR at www.sedar.com.





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