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Ethos Gold Provides Schefferville Gold Project Update

Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) ("Ethos" or the "Company") is…

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Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) (“Ethos” or the “Company“) is pleased to announce that it has completed Phase 1 of the regional exploration program at the Schefferville Gold Project. The Schefferville Gold Project comprises a total of 36,808 hectares (368.1 km2) centered 80 kilometers northwest of Schefferville, Quebec, west of the border with Labrador.

Highlights

  • In October 2020, Ethos completed a high-definition helicopter-borne magnetometer survey over the Schefferville project aimed at high resolution mapping of magnetite-bearing iron formation and the identification of structures influencing gold mineralization.

  • In winter and spring of 2021, Ethos completed compilation and validation of existing historical data, and together with the new aeromagnetic data, defined 44 prospective targets on which ground truthing and prospecting were conducted during Phase 1 field work conducted by IOS Geoscientific Services from mid-June to early July 2021. Numerous mineralized meta-iron formations were identified, some associated with historic gold showings, and some representing new showings.

  • In August 2021, Ethos completed a property-wide LiDAR survey to help delineate structures, lineaments and geological contacts across the property.

  • Phase 2 exploration program to begin immediately and focus on high priority targets identified during Phase 1.

Project wide, approximately 53 gold occurrences grading from 1 g/t Au up to 171.5 g/t Au in mineralized iron formations have been documented (Figure 1,2) 1,2. Only six of these 53 prospect areas have been drill tested at all. A total of 35 short holes on these six prospects yielded results including 2.23 g/t Au over 19.55 m, 10.21 g/t over 2.03 m and 1.05 g/t Au over 12.55 m.

Stated Jo Price, P.Geo., M.Sc., VP Exploration of Ethos: “We are impressed by the robust targets developed during our compilation and Phase 1 exploration program at the Schefferville Gold Project. We are excited to immediately begin testing some of the highest priority areas on this district scale opportunity.”

Phase 1 Exploration Program

The Phase 1 work comprised property wide prospecting, regional structural analysis, and ground truthing of targets defined through compilation of existing historical data and prioritized a number of targets for more detailed Phase 2 field work. Ethos defined 44 prospective targets on which ground truthing and prospecting were conducted during Phase 1 field work, which extended for 21 days. Field observations determined that consistently magnetic lithology within the paragneiss sequence is quartz-pyroxene-(amphibole)-magnetite-(garnet)-pyrrhotite iron formation, which is the most prospective rock type for hosting gold mineralization. Magnetic signatures related to the iron formations present as moderate intensity, spotty to linear to complex curvilinear domains over distances of approximately 100m to several kilometers within the paragneiss sequence, with several orders of magnitude magnetic susceptibility contrast compared to the surrounding paragneiss and provide additional targets under thin cover. It was also noted that the most prospective gold mineralization, historically and from the 2021 Phase 1 field program, tended to occur in thickened iron formation, including near fold hinges, where the iron formations are up to 10s of metres thick and can be followed in sporadic outcrop (and in a few historical stripped areas) over distances commonly exceeding several 100 metres. Notable targets include:

  • Arsene: Only a portion (~180m) on an isolated magnetic anomaly portion of the Arsene target has been historically stripped, sporadically grab sampled, locally channel sampled, and drilled. The overall Arsene magnetic and Au-anomalous trend extends for at least 500m to the WNW of the historical stripped area (to a 3 g/t Au 2021 sample) and 500m to the ESE (to a historic 3.25 g/t Au sample). The fold hinge plunge and stretching lineation at the historic portion of the Arsene Prospect appears to be moderately westward plunging and is untested down-plunge to the west. There is a separate parallel trend several 100m to the north of the above trend, with historic rock samples of 12.3 g/t Au & 6.07 g/t Au.
  • Baleine NE: Characterised by a 350m long oval-shaped magnetic high, stripped over 80 metres, the structure appears to be a moderately west plunging fold axis area. 4.59 g/t Au & 0.6 g/t Au 2021 samples, and historic 3.6 g/t Au, 3.12 g/t Au, 1.6 g/t Au, 1.5 g/t Au and 1.48 g/t Au samples are scattered throughout the broader area of the magnetic anomaly, which has not been thoroughly stripped and sampled.

    Baleine Rouge: 500m long NW-SE magnetic trend, sporadically outcropping, where historic DDH WT-09-04 (Western Troy capital, 2009) intersected 2.23 g/t Au over 19.55 m (including 10.21 g/t Au over 2.03 m). Historic rock samples at NW end of trend, 12.21g/t Au & 6.93 g/t Au, remain untested by DDHs as well as an additional anomalous 0.61 g/t Au 2021 rock sample which was collected at SE end of trend.

  • Wolf: Historic rock samples to 171.5 g/t Au & 11.65 g/t Au within iron formation require follow-up, mapping/stripping.
  • Disco: Iron formation target, east-striking, vertically dipping, 8.5 g/t Au 2021 rock sample at east end of exposed iron formation, and historic 2.81 g/t Au & 4.06 g/t Au rock samples 200m to west along the strike projection of the iron formation.
  • Beluga: Midway between Arsene and Baleine, this occurrence has not been stripped historically, there are only scattered outcrop and subcrop exposures. Comprises an interpreted (from magnetics and 3D mag inversion) major (>2km) long, moderately (approximately 30 degrees) westward plunging synclinoral trend. Another historic sample (13.9 g/t Au) in the NE portion of the Beluga Target area may be on the north limb of the syncline at Beluga, or else on a separate linear magnetic trend.

Phase 2 field work will be conducted from late September through mid-October 2021 and comprises stripping, prospecting, and geological mapping of the selected high priority targets delineated in Phase 1 of the exploration program.

Figure 1. Prospects on the Sable Block; Magnetics and Geology within the Schefferville Project

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1564/98591_06c6e33c84a56b2d_002full.jpg

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/10/6f40c562e174bc6d4a533b2609cef100.jpg

Figure 2. Prospects on the Hamard Block; Magnetics and Geology within the Schefferville Project

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1564/98591_06c6e33c84a56b2d_003full.jpg

1 Historical assay values have not been independently verified by the Company and a potential investor should not place undue reliance on historical results when making an investment decision, nor should they be used as the sole criterion for making investment decisions. There is no assurance that the Company can reproduce such results or that the historical results described therein will be realized. 2 “Best surface samples” are grab / select samples and not necessarily representative of mineralization hosted on the property.

Schefferville Gold Project Overview

The Schefferville Gold Project is centered on a structural corridor characterized by faulted and sheared iron formation stratigraphy extending for approximately 60 km on the Sable block, and 10 km on the Hamard block. The project was acquired through staking (see Company’s news release dated August 20, 2020) and three subsequent acquisition transactions (see news releases dated September 4, 2020; and October 15, 2020; and February 16, 2021).

The Sable and Hamard claims cover extensive areas of the Lilois Complex, a 2.7 billion-year-old rock unit characterized by the presence of numerous contrasting iron formations, many of which locally host gold mineralization, hosted in a monotonous sequence of paragneiss. Sable and Hamard occur within a 20 km wide (east-west) by 70 km long (north-south) corridor along the Quebec – Labrador border. In 1985, a Quebec Ministry field team discovered the Lac du Canoe gold occurrence with sample results up to 18.9 g/t Au. Between 1986 and 1997, follow up work by the Quebec Ministry and several companies resulted in the discovery of approximately 40 gold occurrences grading from 1 g/t Au to up to 40 g/t Au in mineralized iron formations with 3-20% pyrrhotite and up to 10% arsenopyrite. Subsequent drilling yielded intervals including 18.1 g/t Au over 0.7m, 5.83 g/t Au over 3.1m, and 1.05 g/t over 12.55m (Quebec Assessment Reports GM45903 & GM66613).

The primary exploration target is mildly sulphidized iron formations, which are isoclinally folded and continuous overs hundreds of metres, and which experienced significant thickening at fold hinges. These structures were pathways for hydrothermal fluids during deformation and metamorphism, which resulted in sulphidization of the iron formations, with attendant gold and arsenopyrite mineralization, Additionally, significant mineralization may extend into the bounding paragneisses, and also may be controlled by structures adjacent to contacts of paragneiss and iron formation with various intrusive bodies.

QA/QC Procedures

All samples were sent to ALS Canada Ltd. (ALS) in Val d’Or, Qc for preparation and analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples were analyzed using ALS’s Fire Assay and AAS, 30g method (Au-AA-25) and by a 48-element four acid digest ICP-MS analysis (ME-ICP61). In addition to ALS Laboratory quality assurance / quality control (QA/QC) protocols, Ethos implements an internal QA/QC program that includes the insertion of sample blanks, duplicates and standards into the sample stream.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., MBA, VP Exploration of Ethos, and Réjean Girard, P. Geo., Project Lead at IOS Services Géoscientifiques Inc., Qualified Persons as defined under National Instrument NI 43-101 (“NI 43-101”).

About Ethos Gold Corp.

Ethos Gold, a Discovery Group company, has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland that we believe have large scale discovery potential. Ethos engages proactively with Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial. The Company has a solid technical team led by Dr. Rob Carpenter, formerly the CEO of Kaminak Gold Corporation. Rob led the Kaminak team from initial listing in 2005 through acquisition and discovery of the multiple-million-ounce Coffee Gold Project. In Ethos, he has assembled a senior geologic team with a strong record of discovery success including Dr. Robert Brozdowski, P.Geo., Dan MacNeil, M.Sc., P. Geo., Dr. Alan Wainwright, P.Geo., Jodie Gibson, M.Sc., P.Geo., and Dr. Quinton Hennigh, an economic geologist with 25 years of exploration experience formerly with Homestake Mining Company, Newcrest Mining and Newmont Mining Corp. With working capital of approximately C$8.5 million, the Company is well funded to advance its projects.

Ethos Gold Corp.
Per: “Alex Heath
Alex Heath, CFA, President

For further information about Ethos Gold Corp. or this news release, please visit our website at ethosgold.com or contact Alex Heath at 604-354-2491 or by email at [email protected].

Ethos Gold Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca

Forward-Looking Statement Cautions:

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and the timing related thereto (including the Company’s planned activities for 2021 on the Schefferville Project and its development of drill targets on the Schefferville Project), TSXV approval of the Agreement and the Company’s exploration commitment under the Agreement. 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, including that the Company will carry out its planned activities on the Schefferville Project in the manner and on the timelines currently anticipated and that the TSXV will approve the Agreement, 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 TSXV, 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 risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company’s exploration plans, risks and uncertainties related to the COVID-19 pandemic, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company’s business and prospects and the risk that the TSXV may not approve the Agreement in a timely manner, or at all. 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98591







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United Lithium Corp. Provides Update on Lithium Product Purification – Achieves Higher Than 99% Pure Lithium Carbonate with a Leach Recovery Exceeding 98%

Calcination, Acid Roasting and Water Leaching of spodumene concentrate (reported October 12, 2021) to produce lithium carbonate Higher than 99% pure lithium…

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Calcination, Acid Roasting and Water Leaching of spodumene concentrate (reported October 12, 2021) to produce lithium carbonate

Higher than 99% pure lithium carbonate achieved

Approximately 99% Li2O recovered from impurity removal stages

Test work to commence shortly on a direct lithium hydroxide from spodumene concentrate process

VANCOUVER, British Columbia, Oct. 27, 2021 (GLOBE NEWSWIRE) — United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0ULA) (“ULTH” or the “Company”), is pleased to announce results from proprietary lithium purification testwork to produce lithium carbonate (Li2CO3) from spodumene concentrate. Testing produced lithium carbonate with a purity of approximately 99.1% from the initial bench tests. This test program was conducted under the supervision of Dr. Abdul Halim at Process Research Ortech Inc. in Mississauga, Ontario, Canada.

The technical grade of Li2CO3 product and recovery of Li2O from flotation concentrates are considered excellent.

A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ca2450a-33bd-452c-9a91-81b77e41accd

Process Research Ortech Inc. (PRO) was contracted by United Lithium Corp. to develop a sustainable process flow-sheet for the recovery of lithium from a hard rock deposits. The primary lithium mineral to be concentrated is the alumina-silicate spodumene. Spodumene is considered the most important commercial lithium mineral due to its high Li content and favorable processing characteristics. For phase one of the program a lithium rich pegmatite was sourced from Canada for testing.

The success of this program has encouraged United Lithium to continue forward with expanded test work for direct lithium hydroxide production from spodumene concentrate. Test work to date will allow optimization of pilot plant testing, expected to commence early in 2022. The proposed pilot plant will test lithium rich feed materials from a variety of projects, with results expected to be suitable for an economic assessment of a flowsheet to recover Li2CO3 and LiOH from spodumene and petalite feed.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b16ff5a3-c69c-43ea-89f7-ae22a6da8334

Table 2 Analysis of the process solutions related with Li2CO3 precipitation tests

Test

Description

Concentration (mg/L)
Li2O Al Ca Fe K Mg Mn S Zn
Li₂CO₃T1

Feed 39309 <5 134 <5 466 <5 <5 6888 <5
Filtrate 3620 <5 10 <5 406 <5 <5 62140 <5
WW 3488 <5 6 <5 27 <5 <5 5192 <5
Li₂CO₃T2

Feed 35172 <5 6 <5 8 <5 <5 42060 <5
Filtrate 3925 <5 16 <5 17 <5 <5 40320 <5
WW 3989 <5 11 <5 <5 <5 <5 2874 <5

Work to date continues to demonstrate a “greener” process: lower temperatures, lower chemical needs, shorter processing times versus incumbent technologies point toward the environmental and CO2 impacts of high grade lithium salts production to be substantially reduced. Reagents and water consumption can be minimized by recycling the process streams such as filtrates, washes, evaporated water and crude products to the Li2CO3 precipitation, impurity removal, and water leaching stages.

When additional test work to convert spodumene concentrate into lithium carbonate is completed, a life cycle assessment for this innovative process is planned, and engineering data will be available to support decision making. A test program to optimize the calcination and roasting portions of the flowsheet to make them even more environmentally friendly is being designed by the company’s President and CEO Michael Dehn and Dr. Abdul Halim, VP Technology of Process Research Ortech Inc.

”Test work to date has demonstrated that it is possible to modify traditional processes and shortcut lithium carbonate production using innovative out of the box thinking. United Lithium aims to commercialize a sustainable and robust process flow sheet for lithium concentrate production, high grade lithium carbonate and potentially high purity battery grade lithium hydroxide, with the ability to accommodate multiple feed materials with minimal modifications.”, states Michael Dehn, President and CEO of United Lithium. “By making minor improvements in each step of the traditional flowsheet, we believe we can deliver a new lithium flowsheet with distinct economic and environmental benefits”.

The detailed bench test work to develop a flowsheet was conceived and supervised by Dr. Abdul Halim, VP Technology of Process Research Ortech Inc. He has over 15 years of experience in developing and optimizing innovative and sustainable technologies for critical metals including lithium, cobalt, nickel and other base metals, PGMs, gold, germanium and rare earths (REEs) from mined natural resources and recycle materials through bench, pilot, and demonstration plant operations. He has authored more than 50 scientific and technical papers, holds 5 US patents, and has authored a number of book chapters in these areas. He worked at FLSmidth, Salt Lake City, USA, and SGS Lakefield, Canada prior to joining Process Research Ortech Inc. as a VP Technology.

Mark Saxon (FAusMM), Technical Advisor to the Company, is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure or Mineral Projects) and has prepared or reviewed the scientific and technical information in this press release.

On Behalf of The Board of Directors,
United Lithium Corp.
Michael Dehn, President, CEO and Director

For further information, please contact the Company at:
[email protected]
www.unitedlithiumcorp.com

About United Lithium Corp.

United Lithium Corp. (CSE: ULTH) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.

Forward Looking Statements

This news release contains forward-looking statements. All statements included in this release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

The CSE does not accept responsibility for the adequacy or accuracy of this release





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Monarch Mining Prepares Beaufor Mine and Beacon Mill for the Restart of Operations

MONTREAL, Oct. 27, 2021 (GLOBE NEWSWIRE) — MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) is pleased…

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MONTREAL, Oct. 27, 2021 (GLOBE NEWSWIRE) — MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) is pleased to provide an update on the restart of operations at the Beaufor Mine and Beacon Mill, scheduled to begin in the coming weeks in preparation for the start of mining in 2022. Rehabilitation work at the two sites is being carried out by some 30 employees and more than 120 regular and part-time contractor personnel.

The following is a summary of the work done to date at the Beaufor Mine:

  • Rehabilitation of 900 metres of rail track including four new switches on level 20 to allow for a sustained maximum haulage rate between the Q zone and the shaft.
  • Rehabilitation of the main ramp from level 20 to the Q zone on level 132, which is needed for development and production to resume.
  • Recommissioning of four R1300 LHD loaders, three 30-tonne trucks, including the AD30, and two 15-tonne trucks.
  • Dismantling of the surface ventilation system at the Pascalis shaft and reassembly near the old Beaufor #4 shaft to improve the ventilation system in the Q, W and 350 zones.
  • Installation of a 25-kV electrical system to power the future development of the W zone and the new ventilation system.
  • Rehabilitation of the surface ore bins to make them safer.

At the Beacon mill, major work has been undertaken since the mill was last commissioned in 2014:

  • The administrative offices, drying rooms, warehouses and electrical room have been renovated.
  • The electrical distribution system and mill’s internal piping have been replaced.
  • The main crusher has been dismantled to allow for a complete overhaul.
  • The pumping system has been improved.
  • The mill’s internal conveyor system has been inspected, with major repairs made to the main conveyor under the grizzly and the outside rock breaker.

“This work is part of our estimated budget of approximately $12.5 million to bring the Beaufor Mine and Beacon Mill back into operation and will allow our employees to work more efficiently and safely,” said Jean-Marc Lacoste, President and CEO of Monarch. “In addition, as we have said before, we will now be able to extract gold from two sources, the shaft and the ramp, instead of just one, which should increase the mine’s capacity. In terms of our production schedule, we expect to complete the mine and mill preparation work at the end of the fourth quarter.”

“In terms of exploration at the Beaufor Mine, we have four underground drills currently operating on site and the 42,500-metre drilling program is approximately 85% complete. We are extremely pleased with the results obtained to date and are looking forward to seeing what the next drill results will show,” added Mr. Lacoste.

The technical and scientific content of this press release has been reviewed and approved by Christian Tessier, P.Geo., the Corporation’s qualified person under National Instrument 43-101.

About Monarch
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including the past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned Beacon 750 tpd mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host 478,982 ounces of combined measured and indicated gold resources and 383,393 ounces of combined inferred resources.

Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:
Jean-Marc Lacoste 1-888-994-4465
President and Chief Executive Officer [email protected]
   
Mathieu Séguin 1-888-994-4465
Vice President, Corporate Development [email protected]
   
Elisabeth Tremblay 1-888-994-4465
Senior Geologist – Communications Specialist [email protected]

www.monarchmining.com

Table 1: Monarch combined gold resources

Mineral Resource Estimates Tonnes
(metric)
Grade
(g/t Au)
Ounces
Beaufor Mine1      
Measured Resources 328,500 5.7 59,900
Indicated Resources 956,400 5.2 159,300
Total Measured and Indicated 1,284,900 5.3 219,200
Total Inferred 818,900 4.7 122,500
McKenzie Break2      
In-pit      
Total Indicated 1,441,377 1.80 83,305
Total Inferred 2,243,562 1.44 104,038
Underground      
Total Indicated 387,720 5.03 62,677
Total Inferred 1,083,503 4.21 146,555
Swanson3      
In-pit      
Total Indicated 1,864,000 1.76 105,400
Total Inferred 29,000 2.46 2,300
Underground      
Total Indicated 91,000 2.86 8,400
Total Inferred 87,000 2.87 8,000
TOTAL COMBINED4
Measured and Indicated Resources
Inferred Resources
    478,982
383,393
 
1 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the Beaufor Mine Project, July 23, 2021, Val-d’Or, Québec, Canada, Charlotte Athurion, P. Geo., Clovis Auger, P. Geo., and Dario Evangelista, P. Eng., BBA Inc.
2 Source: NI 43-101 Technical Evaluation Report on the McKenzie Break Property, February 1, 2021, Val-d’Or, Québec, Canada, Alain-Jean Beauregard, P.Geo., Daniel Gaudreault, P.Eng., Geologica Groupe-Conseil Inc., and Merouane Rachidi, P.Geo., Claude Duplessis, P.Eng., GoldMinds GeoServices Inc.
3 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the Swanson Project, January 22, 2021, Val-d’Or, Québec, Canada, Christine Beausoleil, P. Geo. and Alain Carrier, P. Geo., InnovExplo Inc.
4 Numbers may not add due to rounding.

Historical Mineral Resource Estimate Tonnes
(metric)
Grade
(g/t Au)
Ounces
Croinor Gold1,2      
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total Measured and Indicated 804,600 9.12 236,000
Total Inferred 160,800 7.42 38,400
       
1 Source: Monarch Gold prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016). This resource was completed for Monarch Gold and has not been reviewed by a qualified person for Monarch Mining as required under National Instrument 43-101 and is thus considered as an historical estimate.
2 Numbers may not add due to rounding.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/c9c5dac1-f2bd-47c4-9248-53166b0460af

https://www.globenewswire.com/NewsRoom/AttachmentNg/d2e28baa-a982-497d-8261-94371f7cb657

https://www.globenewswire.com/NewsRoom/AttachmentNg/caf50c9d-0482-4b3a-b348-36ed63a30744

https://www.globenewswire.com/NewsRoom/AttachmentNg/c9d6699f-a720-4bb1-a20f-70d39469e545







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Skeena to Commence Trading on the NYSE

VANCOUVER, BC / ACCESSWIRE / October 27, 2021 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) ("Skeena" or the "Company") is pleased to announce that…

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VANCOUVER, BC / ACCESSWIRE / October 27, 2021 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) (“Skeena” or the “Company”) is pleased to announce that the Company has received listing authorization from the New York Stock Exchange (“NYSE”) and has filed a Form 40-F (“40-F”) with the U.S. Securities and Exchange Commission (“SEC”). The Company expects to begin trading on the NYSE on November 1, 2021 under ticker symbol “SKE”. The Company’s common shares will continue trading on the TSX under ticker symbol “SKE”.

Concurrent with the start of trading on the NYSE, Skeena’s common shares will cease trading on the OTC Markets. Shareholders are not required to take any action.

About Skeena

Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a Prefeasibility Study for Eskay Creek in July 2021 which highlights an open-pit average grade of 4.57 g/t AuEq, an after-tax NPV5% of C$1.4B, 56% IRR, and a 1.4-year payback at US$1,550/oz Au. Skeena is currently completing both infill and exploration drilling to advance Eskay Creek to full Feasibility by Q1 2022.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.
President & CEO

Contact Information

Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com

The scientific and technical information in this press release was approved by Paul Geddes, P.Geo., a Qualified person as defined under National Instrument 43-101 and Vice President, Exploration and Resource Development for the Company.

Cautionary note regarding forward-looking statements

Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Skeena Resources Limited.

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