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Candelaria Announces Closing of Final Tranche of Non-Brokered Private Placement

NOT FOR DISSEMINATION, DISTRIBUTION, RELEASE, OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE…

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NOT FOR DISSEMINATION, DISTRIBUTION, RELEASE, OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.

VANCOUVER, British Columbia, Oct. 29, 2021 (GLOBE NEWSWIRE) — Candelaria Mining Corp. (TSX-V: CAND, OTC PINK: CDELF) (the “Company”) is pleased to announce that, further to its press release of September 22, 2021, it has closed its second and final tranche of its non-brokered private placement for a gross proceeds of $511,648 through the issuance of 1,136,997 units of the Company (the “Units”) at a price of $0.45 per Unit (the “Final Offering”). Each Unit will consist of one common share of the Company and one-half of a common share purchase warrant (the “Warrants”), with each full Warrant entitling the holder thereof to acquire one common share of the Company at a price $0.65 for a period of 36 months following the closing of the Offering.

Gross proceeds raised from the Final Offering will be used for general corporate purposes.

Combining with first tranche, which closed on September 22, 2021, the total proceeds raised was $8,441,770, with a total issuance of 18,759,491 Units.

Armando Alexandri (COO) and Mike Struthers (CEO), subscribed for 622,222 Units ($280,000) and 91,111 Units ($41,000), respectively, under the second and final tranche of the Offering (the “Insider Subscriptions”). The Insider Subscriptions constitute “related party transactions” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 in respect of the Insider Subscriptions.

The Final Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

The original regulatory deadline for closing of the Final Offering was October 7, 2021, in which the Company had obtained regulatory approval to extend it to October 29, 2021.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. 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 in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD
Mike Struthers
CEO
+1 604 349 5992

For further information, please contact:

Candelaria Mining Corp.
Investor Relations
+1 604 349 5992 | [email protected]

Cautionary Note Regarding Forward-looking Statements: This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the terms, the use of proceeds and the timing of closing of the Offering. Forward-looking statements are based on the opinions and estimates as at the date the statements are made, and are based on a number of assumptions and 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. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions or metals prices, unanticipated developments on the Company’s properties, and other risks described in the Company’s public disclosure documents available under the Company’s profile at www.sedar.com.

Neither the 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.


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CORRECTION — Robex Resources Inc.: Excellent December Performance Continuing Into January

CITY OF QUEBEC, Jan. 21, 2022 (GLOBE NEWSWIRE) — Please note that there was an error in a press release issued by Robex Resources Inc. (TSXV: RBX) under…

CITY OF QUEBEC, Jan. 21, 2022 (GLOBE NEWSWIRE) — Please note that there was an error in a press release issued by Robex Resources Inc. (TSXV: RBX) under the same headline on January 18, 2022, at 09:30 am EST. The corrected release follows:

Robex Resources Inc. (“Robex”, the “Group” or the “Company”) (TSXV: RBX)

Record December production

ROBEX Resources Inc. is pleased to announce a record production in December 2021 with a monthly tonnage of 192,024 tonnes at a grade of 0.94 g/t, producing 166 kg (5,337 oz of doré).

This production rate continues with 95,877 tonnes of ore processed during the first 15 days of January.

The new mining plan established this year enabled us to optimize the Nampala resources. The results confirm this strategy’s effectiveness:

Period Tonnage
(tonnes)
Grade
(g/t)
Stripping
(S/M)
Production
(Oz)
Q1 2021 472,410 0.75 5.70 10,642
Q2 2021 474,435 0.82 4.75 11,124
Q3 2021 481,690 0.79 2.77 11,317
Q4 2021 519,749 0.88 3.23 13,471
Annual 1,948,284 0.81 4.11 46,554

We have seen a continuous improvement throughout 2021:

  • Tonnage was up strongly, which is explained by the commissioning of multiple investments: first the cone crusher, then in December the new cyclone pumps that enabled us to achieve the December production record. Investment in a new crusher feeder planned for 2022 should enable us to further improve the plant’s efficiency.
  • Steady improvement in grade and stripping ratio with the new mining plan.

Improvement in production costs

The combined effect of tonnage increase, grade improvement and lower stripping ratio have significantly improved production costs.

External growth

In addition to these production improvements, Robex continues to actively pursue its ambitions for external growth. Accordingly, and as previously announced, management is currently examining various projects to implement the Company’s business plan and achieve its new objectives.

Situation in Mali

Robex is closely monitoring developments in Mali and the possible consequences of international decisions on the mining sector.

For the moment, operations continue as usual with no particular impact.

For more information, the Robex management report and summary interim consolidated financial statements (unaudited) are available on the Company’s website in the Investors section. These reports and other documents produced by the Company are also available at: sedar.com.

A word from the chairman, Mr. Georges Cohen:

“Once again, I congratulate the team for the great work and the improvement in Nampala’s results.

This press release allows me also to thank all our employees in Quebec and Mali for their accomplishments and wish them and our shareholders a great 2022.”

About ROBEX:

Robex Resources Inc. is a TSX-V listed Canadian mining company with exploration properties in Mali and an operating mine. The group has a strong business model, which demonstrated great results with the Nampala mine. With this experience, Robex is now striving to grow in West Africa by acquiring and/or developing new mines.

For more information:

Benjamin Cohen, CEO

Aurélien Bonneviot, investors relations and corporate development

[email protected]

Head office: +1-581-741-7421

This press release contains statements that may be considered “forecast information” or “forecast statements” in terms of security rights. These forecasts are subject to uncertainties and risks, some of which are beyond the control of Robex. Achievements and final results may differ significantly from implicit or explicit forecasts. These differences can be attributed to many factors, including market volatility, the impact of the exchange rate and interest rate fluctuations, mispricing, the environment (tighter regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government politics or regulations (laws and policies), an inability to obtain necessary permits and approvals from government agencies, or any other risk associated with mining and development. There can be no assurance that the circumstances set out in these forecasts will occur, or even benefit Robex. The forecasts are based on the estimates and opinions of the Robex management team at the time of publication. Robex makes no commitment to make any updates or changes to these publicly available forecasts based on new information or events, or for any other reason, except as required by applicable security laws. The TSX Venture Exchange or the Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the authenticity or accuracy of this press release.


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Rockhaven Resources: Advancing Toward Production, CEO Clip Video

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Rockhaven Resources Ltd. (TSXV: RK) – Matt Turner, President & CEO, gives his insight…

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Rockhaven Resources Ltd. (TSXV: RK) – Matt Turner, President & CEO, gives his insight on the company’s Klaza Project.

If you cannot view the video above, please visit:
https://b-tv.com/rockhaven-resources-advancing-toward-production-btv-investing-news/

Rockhaven Resources Ltd. will be featured on CEO Clips broadcast on BNN Bloomberg on Jan 22nd & Jan 23rd, 2022.

Rockhaven Resources Ltd. (TSX.V: RK)

https://www.rockhavenresources.com/

About CEO Clips:

CEO Clips is the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 12 financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com.

BTV – Business Television/CEO Clips

Discover Companies to Invest in

www.b-tv.com

Contact: Trina Schlingmann (604) 664-7401 x 5 [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111072




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Kibali Delivers Another Stellar Performance and Expects to Grow Its Mineral Reserves Net of Depletion

All amounts expressed in US dollars KINSHASA, Democratic Republic of Congo, Jan. 21, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD)…

All amounts expressed in US dollars

KINSHASA, Democratic Republic of Congo, Jan. 21, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – The Kibali gold mine produced a total of 812,152 ounces1, well within guidance for 2021, and expects to increase its mineral reserves net of depletion for the third successive year, maintaining its plus 10-year life as one of Barrick Gold Corporation’s Tier One2 assets.

At a media briefing here, Barrick president and chief executive Mark Bristow noted that this performance, which grew steadily stronger during the year, was achieved with no lost time injuries during the last quarter. Like all Barrick’s mines worldwide, Kibali retained its ISO 45001 safety and ISO 14001 environmental accreditations.

At the same time, Kibali continued to lead the group’s clean energy drive with power sourced from its three continuously upgraded hydropower stations supported by new back-up battery technology.

“Kibali’s performance was supported by reinforced Covid-19 protocols to deal with the fourth wave of the virus. The mine worked closely with the DRC’s health authorities and the provincial government to source vaccines and to date has partially vaccinated 60% of its workforce, with 43% of the workforce fully vaccinated,” Bristow said.

“It also strengthened its local business partnerships to build a sustainable economy in the region. During Q4 it spent $40.6 million with local contractors and suppliers, bringing the total since the start of Kibali to $2.1 billion. To date, Kibali has invested some $3.7 billion in the DRC in the form of taxes, permits, infrastructure, salaries and payments to local partners.”

During the fourth quarter Kibali paid a dividend of $170 million to shareholders of Barrick, AngloGold Ashanti and government parastatal, SOKIMO, bringing the total distribution for the year to $200 million. Bristow said Barrick and the Congolese authorities were working together on a program to release cash for the repayment of offshore loans.

During the quarter Kibali launched the Garamba Alliance, a biodiversity partnership with the US Agency for International Development (USAID) designed to preserve this World Heritage park through anti-poaching actions and other conservation initiatives. This partnership is also designed to secure a sustainable economic future for the local community surrounding the park.

Looking ahead, Bristow said underground drilling at the KCD orebody was defining a new high-grade lode above the base of the shaft infrastructure. This was an exciting discovery which could add an entirely new orebody to the existing KCD series of orebodies.

Enquiries:

President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386

COO, Africa and Middle East
Willem Jacobs
+44 779 557 5271

DRC country manager
Cyrille Mutombo
+243 812 532 441

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]

Website: www.barrick.com

Endnote 1
On a 100% basis.

Endnote 2
A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.

Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “will”, “maintain”, “potential”, “could”, “guidance”, “opportunities”, “design” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s production guidance and performance; opportunities to grow reserves net of depletion and extend Kibali’s mine life; securing Kibali’s status as Tier One mine; the anticipated environmental and operational benefits from Kibali’s investment in its hydropower stations and battery technology; Kibali’s health, safety and environmental protection programs, including its Covid-19 prevention protocols and initiatives to secure Covid-19 vaccines as well as the Garamba Alliance; the results of underground drilling at the KCD orebody and the definition of a new high-grade lode; Barrick’s engagement with Congolese authorities on a program to release cash in the DRC for the repayment of offshore loans; and Barrick’s commitment to the DRC and potential further growth opportunities.

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 factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick’s targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.


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