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Amarillo Shares Rise After Discovering New Primary Gold Deposit at Mara Rosa

TORONTO, Sept. 08, 2021 (GLOBE NEWSWIRE) — Pastinho is no longer a drill target but a full-fledged satellite deposit, said Amarillo Gold Corporation…

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TORONTO, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Pastinho is no longer a drill target but a full-fledged satellite deposit, said Amarillo Gold Corporation (TSXV: AGC, OTCQB: AGCBF) today, as it announced results from 15 new drill holes on the Company’s Mara Rosa Property in Goiás State, Brazil.

Located 3.5 kilometres northeast of Amarillo’s flagship Posse Gold Deposit, the Pastinho Deposit is a near-surface tabular shaped deposit striking 1,700 metres in a northeast-southwest direction that dips approximately 60 degrees northwest.

Amarillo is expanding its overall diamond drill program at Mara Rosa by 3,000 metres to follow up on the gold mineralization at Pastinho, which remains open along strike and down dip.

“We are very pleased with the drill results coming out of the 2021 exploration program at Pastinho,” said Mike Mutchler, Amarillo’s President and Chief Executive Officer.

“We have defined near surface gold mineralization over potentially mineable widths for a strike length of 1.7 kilometres and to depths of more than 100 metres. We are optimistic that with further work Pastinho will develop into a source of future ore feed for the Posse mill.”

Pastinho drilling highlights

  • 3,767 metres of diamond drilling consisting of 23 holes has been completed at Pastinho
  • Remarkably, all 15 drill holes received to date intersected elevated gold values, demonstrating the notable consistency of the Pastinho Gold Deposit
  • Assay results have been received for 15 holes spanning a strike length of 1,200 metres from section line 14.00 to section line 38.00 (see Figure 1)
  • Partial drilling results from drillhole 21PTN017 collared on section 38.00 returned 7.00 metre grading 0.9 g/t gold. This hole was the most north-easterly collared hole of the program and extends known gold mineralization by 250 metres of strike length to the northeast where the deposit remains open
  • Drillhole 21PTN016 returned 6 metres grading 1.57 g/t gold from 42.00 metres on Section Line 24.00, demonstrating that higher relative gold grades over good thickness exist within the Pastinho Deposit
  • Several drill holes have encountered multiple parallel gold zones and more work is required to better understand the nature and extent of these parallel gold-bearing structures:
    • 21PTN009 intersected 7.00 metres grading 0.89 g/t gold from 35.00 metres
    • 1.00 metres grading 3.430 g/t gold from 51.00 metres
    • 7.50 metres grading 0.93 g/t gold from 67.50 metres
  • Pastinho remains open along strike and at depth
  • A follow-up 3,000 metres drilling program will continue testing the downdip and strike extension of Pastinho

Background

The Pastinho Deposit is located approximately 3.5 kilometres northeast of Posse on 6,000 hectares of exploration tenements that Amarillo gained access to in December 2019.

The geological setting and style of mineralization observed at Pastinho is like what is seen at the flagship Posse Gold Deposit. The gold mineralization typically occurs within sheared mylonitic rocks that occur between hanging wall biotite gneiss and/or metatonalite and footwall gabbro and/or metatonalite (see Figure 2).

Gold is normally associated with 3-5% fine grained disseminated pyrite in silicified and carbonatized mylonitic (highly sheared) rocks composed of quartz, plagioclase, biotite, sericite, and epidote. The foliation in the hanging wall biotite gneiss strikes northeast with a shallow northwest dip of 45-50 degrees in the southwest, with the dip steepening to 70-80 degrees to the northeast suggesting a wrenching affect.

Limited drilling in 2020 defined a tabular-shaped gold-mineralized structure approximately 800 to 900 metres long oriented in a northeast-southwest direction along the same structural trend as the Posse Gold Deposit. The apparent thickness varies from 5 to 20 metres and dips about 60 degrees northwest.  

Follow up surface trenching and shallow auger drilling in late 2020 extended the strike length of mineralization to about 1.5 kilometres. As previously disclosed, selected near surface drillhole intercepts include 18.7 metres grading 0.84 g/t gold, 11.0 metres grading 0.74 g/t gold, and 7.6 metres grading 1.45 g/t gold (assuming a cut-off of 0.2 g/t gold).

Highlights of previously released surface trenching results include Trench 20TCH009 that returned 17 metres grading 1.46 g/t gold at the farthest northeast extent of the Pastinho Deposit.

As discussed in more detail below, results of the 2021 drilling program are confirming and enhancing the geological model of Pastinho.

About the 2021 drilling program

The goal of the 2021 drilling program is to:

  • confirm that primary gold mineralization occurs below the surface trace of the gold-bearing surface trenches.
  • test the strike extent of the deposit to the northeast
  • look for a higher-grade and potentially thicker zone of mineralization.

Drill holes were collared in the hanging wall of the deposit and drilled perpendicular to the interpreted northwest dip plane of the tabular structure. The azimuths of the drill holes were oriented southeast and inclined usually at an angle of 60 degrees. Generally, holes were collared every 50 metres targeting vertical depths of 50 to 100 metres along the strike length of the gold deposit.

About drilling at Pastinho

Results have been received for 15 holes representing 2,228.9 metres drilled into Pastinho (see Table 1 and Figure 1). Overall 23 holes totalling 3,787 metres were completed. The holes tested a strike length of 1,200 metres from section line 14.00 to 38.00, and each section line is spaced 50 metres. Remarkably, all 15 drill holes intersected elevated gold values, demonstrating the notable consistency of the Pastinho gold deposit.

Assay results show elevated gold values over wide thicknesses. Furthermore, mineralization begins at surface and has been confirmed to vertical depths of more than 100 metres and widths of 5 to 20 metres. The deposit remains open along strike and down dip.

Key takeaways from the drilling are:

  • primary gold mineralization has been defined below the surface trenches along and beyond the strike length of the surface trenches to the northeast
  • gold mineralization was encountered in drill hole 21PTN017, 200 metres northeast of trench 20TCH009 confirming that the gold deposit remains open to the northeast
  • wider and higher grades zones are beginning to develop within the south-central portion of the deposit. Furthermore, multiple parallel gold structures have been observed. Much more work needs to be completed to better understand the nature of the deposit here.

Pastinho drill results: notable details

Pastinho is demonstrating remarkable consistency and is dipping approximately 60 degrees to the north west.

For example, drill hole 21PTN001 intersected 12.00 metres grading 0.79 g/t gold on section line 14.00 in the central southwestern portion of Pastinho. Drill hole 21PTN002 was collared 100 metres northeast on Section line 16.00 and returned 13.00 metres grading 0.98 g/t gold at a vertical depth of 30 metres. Drill hole 21PT005 was a step out hole also collared on Section line 16.00 and intersected 15.00 metres grading 1.00 g/t gold (including 4.00 metres grading 2.67 g/t gold) at a vertical depth of 80 metres.

Multiple parallel gold structures have been observed at Pastinho. For instance, on section 17.00 (see Figure 3) a further 50 metres to the northeast, drill hole 21PT007 returned multiple gold intercepts including:

  • 7.00 metres grading 1.37 g.t gold from 73.00 metres
  • 12.50 metres grading 0.55 g/t gold from 112.50 metres.

Also on section 17.00, hole 21PTN009 likewise intersected three intervals of gold mineralization including:

  • 7.00 metres grading 0.89 g/t gold from 37.00 metres
  • 1.00 metres grading 3.430 g/t gold from 51.00 metres
  • 7.50 metres grading 0.931 g/t gold from 67.50 metres.

Drill hole 21PTN008 on section 18.00 intersected three intervals of gold including:

  • 7.00 metres grading 0.80 g/t gold
  • 6.00 metres grading 0.67 g/t gold
  • 10.00 metres grading 0.71 g/t gold.

These results demonstrate that at least three parallel gold-bearing structures exist in this portion of the deposit.

Pastinho is demonstrating that higher grade “sweet spots” exist. For instance, on section 22.00 drill hole 21PTN010 intersected 7.00 metres grading 1.02 g/t gold from 46 metres. One hundred metres to the northeast on section 24.00, drill hole 21PTN016 returned 6.00 metres grading 1.573 g/t gold. These results suggest a potential corridor of relatively higher-grade gold mineralization.

Pastinho is wide open along strike to the northeast. The drilling program tested the northeast strike extension of the deposit by collaring one hole 200 metres northeast of the most northeasterly surface trench (20T009). Hole 21PTN017 returned 7.00 metres grading 0.88 g/t gold on section line 38.00. This hole extends known gold mineralization to the northeast by 200 metres and remains open along strike to the northeast.

Summary

Including results for the 2020 drilling program, the strike length of Pastinho has been extended to 1,700 metres where primary gold mineralization has been encountered from section line 01 to section line 38 (see Figure 1). The central portion of the deposit appears to host three or more parallel gold bearing structures. Further work is required to better understand the nature and extent of these parallel structures.

The drilling results from Pastinho confirm a new primary gold discovery on the Mara Rosa property. At this stage, the gold deposit is interpreted to be a near-surface northeast-striking tabular structure dipping approximately 60 degrees to the northwest. Pastinho remains open along strike and at depth. This upside potential will be tested with the 3,000 metres drilling program that begins imminently.

Qualified person

Michael Durose, P.Geo., Consulting Geologist for Amarillo Gold Corporation and a qualified person (QP) as defined by Canadian National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this release.

Quality assurance and quality control

Sample handling, preparation and analysis are monitored through the implementation of formal chain-of-custody procedures and quality assurance/quality control programs designed to follow industry best practices.

Trench channel samples were taken at 1 metre intervals and placed in a secure sample bag and submitted to ALS Laboratories Inc. in Goiania, Goiás State, Brazil for preparation by crushing to 70% passing 2.0 mm, riffle splitting to obtain 500 g aliquots, and pulverizing to 85% passing 75 microns.

All drillhole samples in this drilling program consist of split NQ diamond drill core.

Drillcore is logged and sampled in a secure facility located in Mara Rosa, Goiás State, Brazil. Drillcore samples for gold assay are cut in half using a diamond saw and submitted to ALS Laboratories Inc. in Goiania, Goiás State, Brazil for preparation by crushing to 70% passing 2.0 mm, riffle splitting to obtain 500 g aliquots, and pulverizing to 85% passing 75 microns.

Pulps are shipped to ALS Laboratories in Lima, Peru and analyzed by a 30 g fire assay and AAS finish. For assays above 10 ppm gold, a cut of the original pulp was re-assayed with a gravimetric finish.

Certified standards, non-certified blanks and field duplicates are inserted into the sample stream at regular intervals, so that QA/QC accounted for about 10% of the total samples. Results are routinely evaluated for accuracy, precision, and contamination.

TABLE 1: SUMMARY OF ASSAY RESULTS1,2

Hole Azimuth
(degrees)
Dip
(degrees)
From
(metres)
To
(metres)
Gold interval
(metres)
Gold grade
(grams/tonne)
Section
(line)
21PTN001 110 -60 23.00 35.00 12.00 0.794 14.00
21PTN002 111 -60 26.00 39.00 13.00 0.983 16.00
    including 27.00 31.00 4.00 1.185 16.00
21PTN003 110 -59 28.00 39.00 11.00 0.887 15.00
      65.00 67.50 2.50 0.458 15.00
      75.00 76.00 1.00 0.310 15.00
21PTN004 110 -58 40.00 48.00 8.00 0.575 19.00
      51.00 54.00 3.00 0.513 19.00
      62.50 65.00 2.50 0.473 19.00
21PTN005 110 -60 75.00 90.00 15.00 1.003 16.00
    including 76.00 80.00 4.00 2.666 16.00
      94.00 96.00 2.00 0.128 16.00
      125.00 127.50 2.50 0.101 16.00
      150.00 152.50 2.50 0.102 16.00
21PTN007 109 -59 73.00 80.00 7.00 1.369 17.00
    including 73.00 77.00 4.00 1.891 17.00
      112.50 125.00 12.50 0.547 17.00
    including 112.50 120.00 7.50 0.770 17.00
21PTN008 110 -59 35.00 42.00 7.00 0.795 18.00
      47.00 53.00 6.00 0.670 18.00
      75.00 85.00 10.00 0.711 18.00
21PTN009 110 -61 37.00 44.00 7.00 0.886 17.00
      51.00 52.00 1.00 3.430 17.00
      67.50 75.00 7.50 0.931 17.00
    including 72.50 75.00 2.50 1.860 17.00
21PTN010 110 -59 46.00 53.00 7.00 1.017 22.00
21PTN011 110 -59 114.00 125.00 9.00 0.386 24.00
      137.00 138.00 1.00 0.210 24.00
21PTN013 110 -60 82.00 96.00 15.00 0.291 28.00
      101.00 104.00 2.00 1.378 28.00
      170.00 172.50 2.50 0.113 28.00
21PTN014 110 -61 1.00 2.00 1.00 0.345 34.00
      20.00 31.00 11.00 0.700 34.00
      34.00 35.00 1.00 1.240 34.00
      287.50 290.00 2.50 0.364 34.00
21PTN016 110 -60 42.00 48.00 6.00 1.573 24.00
21PTN0173 110 -65 29.00 36.00 7.00 0.880 38.00
21PTN018 110 -60 71.00 77.00 6.00 0.270 32.00
      80.00 89.00 9.00 0.280 32.00
      93.00 100.00 7.00 0.250 32.00
      207.00 208.00 1.00 0.234 32.00
      238.00 239.00 1.00 0.325 32.00

Notes
1 Assumes 0.2 g/t gold cut-off
2True widths have not been determined at this time
3Partial results

FIGURE 1: PLAN MAP SHOWING DRILL HOLE LOCATIONS AND ASSAY RESULTS FOR PASTINHO GOLD DEPOSIT
https://www.globenewswire.com/NewsRoom/AttachmentNg/495df0bb-672d-4b88-ba16-a7e2b13f6268

FIGURE 2: GEOLOGY OF THE PASTINHO GOLD DEPOSIT
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3faec1d-966b-475b-8b5a-dad56bf96331

FIGURE 3: PASTINHO DEPOSIT – SECTION 17.00 – NORTHEAST FACING CROSS SECTION
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f345710-ce8c-449a-9314-56302398b183

About Amarillo

Amarillo is advancing two gold projects located near excellent infrastructure in mining-friendly states in Brazil.

The development stage Posse Gold Project is on the Company’s Mara Rosa Property in Goiás State. It has a positive definitive feasibility study that shows it can be built into a profitable operation with low costs and a strong financial return. Mara Rosa also shows the potential for discovering additional near-surface deposits that will extend Posse’s mine life beyond its initial 10 years.

The exploration stage Lavras do Sul Project in Rio Grande do Sul State has more than 23 prospects centered on historic gold workings.

Amarillo trades on the TSXV under the symbol AGC and the OTCQB under the symbol AGCBF. Visit www.amarillogold.com to learn more about the Company’s focus on becoming a mid-tier Brazilian gold producer.

Follow us on LinkedIn, Twitter, and YouTube.

Contact information

Mike Mutchler
President & CEO
416-294-0736
mike.mutchler@amarillogold.com

Annemarie Brissenden
Investor Relations
416-844-6284
annemarie.brissenden@amarillogold.com

NOTES

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

Forward-looking statements

This news release contains forward-looking statements regarding the Company’s current expectations regarding future events, including its business, operations and condition, and management’s objectives, strategies, beliefs, and intentions.

Various factors may prevent or delay our plans, including but not limited to, the trading price of the common shares of the Company, capital market conditions, impacts from the coronavirus or other epidemics, counterparty risk, TSXV approval(s), contractor availability and performance, weather, access, mineral and gold prices, and success and failure of the exploration and development carried out at various stages of the program. Permission from the government and community is also required to proceed with future mining production. Readers should review the Company’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Company’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements.

Readers should also review the risk factors applicable to junior mining exploration companies generally to better understand the variety of risks that can affect the Company. The Company undertakes no obligation to update publicly or otherwise revise any Forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

PDF available: http://ml.globenewswire.com/Resource/Download/7b313b41-8b37-45f5-84e4-c6e976d5fb2c 










Today’s News

Granada Gold Mine Extends Warrant Terms

 

Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…

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Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant.

 

The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.

 

About Granada Gold Mine Inc.

 

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

 

The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.

 

The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings.  In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.  

 

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

 

For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342

  

Or:

 

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

  

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…

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Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.

The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.

Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635

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Today’s News

Commerce Resources Corp. Announces Warrant Extension and Repricing

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…

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VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed REC and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

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

SOURCE: Commerce Resources Corp.



View source version on accesswire.com:
https://www.accesswire.com/665534/Commerce-Resources-Corp-Announces-Warrant-Extension-and-Repricing

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