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Ceylon Graphite Corp. Late Filing of Financial Statements and Management Cease Trade Order

VANCOUVER, British Columbia, July 30, 2021 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE:…

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VANCOUVER, British Columbia, July 30, 2021 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) announces that it has encountered delays in completing its audited financial statements for the year ended March 31, 2021 because Ceylon and its various Sri Lankan subsidiaries all share a fiscal year ending March 31, 2021 and these entities have encountered COVID-19 related delays in preparing their respective financial statements. As a result, the Company has applied for, and has been granted, a Management Cease Trade Order (“MCTO”) by the British Columbia Securities Commission. Because of the delays, the Company will file its annual audited financial statements, management’s discussion and analysis, and CEO and CFO certificates (collectively, the “2021 Annual Financial Statements”) after the filing deadline of July 29, 2021 as prescribed by National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”).

The Company currently expects to file the 2021 Annual Financial Statements on or before September 29, 2021 and will issue a news release announcing completion of such filings at such time. Until then, the Company intends to comply with the provisions of the alternative information guidelines as set out in National Policy 12-203 – Management Cease Trade Orders for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release.

During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares; however, the Company’s Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade the Company’s shares.

About Ceylon Graphite Corp.
Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors. The Government of Sri Lanka has granted the Company’s wholly owned subsidiary Sarcon Development (Pvt) Ltd. an IML Category A license for its K1 mine and exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.

Further information regarding the Company is available at www.ceylongraphite.com

Don Baxter, Chief Executive Officer

info@ceylongraphite.com

Corporate Communications

1 604-765-8657

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

FORWARD LOOKING STATEMENTS:

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite’s grids, Ceylon Graphite’s plans to undertake additional drilling and to develop a mine plan, and to commence establishing mining operations. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Ceylon Graphite, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various Local Government Licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an inability to reach a final acquisition agreement, inaccurate results from the drilling exercises, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Ceylon Graphite, a failure to comply with environmental regulations and a weakening of market and industry reliance on high quality graphite. Ceylon Graphite cautions the reader that the above list of risk factors is not exhaustive.


Today’s News

Falcon’s Phase 2 at Spitfire – Sunny Boy Has Commenced

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / FALCON GOLD CORP. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce…

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VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / FALCON GOLD CORP. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce an exploration crew have been sent to the high-grade Spitfire-Sunny Boy Project (the "Property") near Merritt, B.C. The Company's first phase announced September 2020 was successful in identifying gold mineralization over a 300m strike length. The Company's second phase is a more aggressive follow up utilizing pack-sack drilling along the Master Vein and parallel mineralized horizons. Highlights of the September 2020 sampling program was a 2.2m channel sample that averaged 59.8 g/t Au which included a 1m channel sample that assayed 122 g/t Au on the Master Vein. Additional highlights are tabled below.

Table of selected assay results from the Spitfire & Sunny Boy Claims 2020 sampling program.

Station ID

Sample #

Sample Type

Width

Assay

Assay

Location

   

(m)

(g/t Au)

(oz/t Au)

 
CH20-01-01

467712

Channel

1.0

122.00

3.56

Master Vein
CH20-01-02

467713

Channel

1.2

7.99

0.23

Quartz stringers
CH20-02-01

467714

Channel

1.0

11.40

0.33

Master Vein
Cliff Vein

467716

Grab

n/a

22.80

0.67

Cliff Vein

The Sunny Boy Project consists of parallel low sulphidation epithermal gold bearing veins. A new potential vein structure, the Cliff Vein, was discovered down slope from the Master Vein, approximately 25 meters lower in elevation. A grab sample of the Cliff vein assayed up to 22.8 g/t Au. To date 5 parallel vein systems have been recorded on the Property. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

Karim Rayani, Chief Executive Officer commented, "We are thrilled to finally send exploration crews to follow up on our original findings from last year. We believe the nature of the veining conforms to a low sulfidation epithermal deposit type model that could host world class gold grades. Our initial phase confirmed the potential of bonanza type gold mineralization. The second phase is a more aggressive follow up testing the vein systems along strike, near surface using shallow drilling. Multiple veins were identified in 2020 and we aim to verify and confirm their high-grade nature along exposed strike lengths."

The Spitfire and Sunny Boy Project

The first recorded discoveries were made on the Spitfire & Sonny Boy claims in 1908, which is currently located in the north-east portion of the property claim block. Most of the early exploration focused on quartz veins that hosted gold, copper and silver. High grade gold values have been reported up to 127 g/t Au and 309 to 514 g/t silver ("Ag") in quartz vein material from underground workings by Quilchena Mining and Development Company Ltd. The high-grade veins have been trenched, pitted, blasted, and drilled but have never been commercially mined. The main showing, Master Vein and hosts high-grade gold mineralization up to 50.53 oz/t as sampled by Ken Sanders, P. Eng in 1974. To the south-west of the Sunny Boy Zone in an area referred to as the "AL" showing soil geochemistry, geophysics (magnetometer/VLF), trenching, sampling and diamond drilling have been performed on the mineralized veins. The best drill result was reportedly 3.77 g/t Au, 0.24 % copper, and 32.9 g/t Ag over 13.4 meters.

The Spitfire & Sunny Boy discovery has been referred to as an epithermal gold deposit by past operators. The gold zones are hosted within the Quesnellia terrane, characterized by submarine volcanic and volcaniclastic rocks of the Nicola group to the south and the Takla group in the north. The gold mineralization and geological setting of the project bear strong similarities to other developed projects in the region such as the epithermal gold deposits, Prospect Valley and Shovelnose, currently being explored by Westhaven Ventures Inc. (Figure 1).

Figure 1. Regional location of the Spitfire-Sunny Boy Project.

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Spitfire-Sunny Boy Property, particularly regarding historical exploration, neighbouring companies, and government geological work.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20 km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off of the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 7 additional projects. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Sokoman-Benton's JV, and Marvel Discovery in Central Newfoundland.

CONTACT INFORMATION:

Falcon Gold Corp.

"Karim Rayani"

Karim Rayani 
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

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, 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.

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, 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.

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.

SOURCE: Falcon Gold Corp.



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Today’s News

Golden Dawn Mobilizing Diamond Drill to Lexington Property

Historic Mining Camp Greenwood, BCVANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRA:3G8C)(OTC PINK:GDMRD), ("Golden…

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Historic Mining Camp Greenwood, BC

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRA:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that it is starting to mobilize crews and equipment for drilling the Lexington Property at the Greenwood Precious Metals project in southeastern BC.

Photo of drilling equipment being mobilized.

Golden Dawn is mobilizing crews and equipment to initiate diamond drilling at the Lexington property. Drilling is expected to commence within a few days. The first holes will be located close to the Lexington Mine permit area where there is potential to extend the mineralized zones northwest of the mine. Later drilling will be located southeast of the mine where historic drill intercepts indicate significant copper-gold mineralization along the No. 7 fault zone within which the Lexington deposit occurs.

Map of the Greenwood Precious Metal Project showing the Lexington property (bottom center).

Map showing the No. 7 fault trend of mines and historic intercepts around the Lexington mine.

Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,

For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.

On behalf of the Board of Directors:

GOLDEN DAWN MINERALS INC.

Per: "Christopher R. Anderson"
Christopher R. Anderson CEO

For further information, please contact:

Golden Dawn Minerals Inc. - Corporate Communications:
Tel: 604-221-8936
Email: Office@goldendawnminerals.com

Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

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

SOURCE: Golden Dawn Minerals Inc.



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Today’s News

St. James Gold Corp. (TSXV: LORD) Update on 2021 Drilling Campaign at the Florin Project, Yukon Territory, Canada

Drilling focused on expanding the 2.47Moz gold inferred mineral resource at the Florin ProjectSeven out of 18 planned 2021 campaign coring holes drilled…

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  • Drilling focused on expanding the 2.47Moz gold inferred mineral resource at the Florin Project
  • Seven out of 18 planned 2021 campaign coring holes drilled so far
  • Logging shows potential mineralization comparable to logs from previous campaigns
  • Field team locates two historic high-grade adit workings on the property

Vancouver, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that the 2021 campaign has been directed towards drilling further mineralization in order to increase the overall 2.47Moz gold inferred resource (2.47-million-ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off) at the Florin Project in the Yukon.

The program has focused on areas adjacent to the existing inferred resource in areas where anomalous gold results have been returned from soil sampling in previous seasons.

In spite of only having a week in which to mobilize, late in the field season, the team at Florin have managed to drill 1,275m in seven holes so far, with platforms prepared for another 11 holes in the immediate area of the inferred resource.

Assay results are not expected for several weeks. The summary logs from all these holes describe intervals of fine-grained sulphides hosted in intrusive and meta-sedimentary rocks, typical of the known, mineralized lithologies in the project. Any holes that remain undrilled this season will be prioritized when the field season re-opens in Q2, next year.

In parallel, a prospecting drive has started to map sites of historic artisanal mining identified next to dumps that have yielded gold-bearing grab samples. These areas are under investigation to better understand the mechanisms that concentrate higher grades of mineralization in and around the Florin intrusive.

In the meantime, satellite imagery has been ordered to guide prospecting, mapping and sampling in order to better understand the distribution of mineralization in and around the Florin intrusion.

CEO George Drazenovic, commented: “We are pleased with the start-up progress on the Q3 2021 core drilling campaign at the Florin Project which is targeting areas adjacent to known gold mineralization with the intention of adding ounces to the existing inferred Resource figure of 2.47Moz Au. The prospecting campaign being undertaken in tandem aims to identify new areas of mineralization which will be the target of future drill campaigns along with the West and Treadwell Zones. In the background, we welcome the ongoing support of Resource Geologist Trevor Rabb at Equity Exploration Consultants Ltd. who is consolidating the existing database, ready to include upcoming assay results from this season’s drill campaign”.

The technical information included in this news release has been prepared, supervised, and approved by Dr. Stewart A Jackson, a Qualified Person under National Instrument 43-101, and technical advisor to the Company.

For more corporate information please visit: http://stjamesgold.com/

For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward looking statements in this news release relate to, among other things: completion of the Offering; the timing and size of the Offering; the timing and receipt of approval from the TSXV for the Offering; the expected use of the net proceeds of the Offering and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements, and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results.

New factors emerge from time to time, and it is not possible for the Company to consider all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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.

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