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Global Energy Metals Announces Drilling at Millennium Cobalt-Copper-Gold Project Returns Strong Initial Results

Vancouver, BC – TheNewswire – September 8, 2021 – Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”,…

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Vancouver, BC - TheNewswire - September 8, 2021 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in investment exposure to the battery metals supply chain, is pleased to advise that its partner, Metal Bank Limited (“MBK”) has completed initial drilling and has reported priority assays from the first two drill holes as part of a six month exclusive option (“Option”) for MBK to earn-in and joint venture the Millennium Copper, Cobalt and Gold Project in Mt Isa, Queensland (“Millennium Project”).

Drilling was focussed on resource validation work in the southern part of the Millennium Project area and on assessing whether the mineralised system continues in the Northern Extension Area.

Highlights

  • - Preliminary drilling of seven holes for 673m completed at the Millennium Cu-Co-Au Project in northwest QLD as part of MBK’s exclusive option to earn-in up to 80% of the project.

    - High grade Copper and Cobalt intersected in first two holes at northern margin of the southern resource with results including:

    • - MI21RC01 – 16m @ 1.07% Cu, 0.26% Co and 0.40g/t Au from 80m including 5m @ 2.92% Cu, 0.50% Co and 1.19g/t Au from 82m.

      - MI21RC02 – 2m @ 0.32% Co from 41m and 3m @ 0.59% Cu, 0.14% Co from 84m within broader Cu-Co mineralised intervals.

    - Results provide confidence in growth upside of the existing Inferred Resource of 5.9Mt @ 1.08% CuEq1.

    - Initial RC drill testing of the Northern Area has been completed with visual Cu mineralisation observed and results awaited.

Commenting on the initial drill results at Millennium, Mitchell Smith, GEMC President and CEO said:

“Initial findings by our partner have show that there is potential to significantly expand the scale at Millennium.  Additional review of this data along with previous work will look to confirm that the broader underlying system extends well beyond the deposit as currently defined. Clearly we are encouraged by these initial results and look forward to reporting on additional assays once received.”

Also commenting on the exploration work, Inés Scotland, BMK Chair said:

We are very excited about the high grade Copper and Cobalt intersections from the first two holes with grades, particularly cobalt, at higher levels than previous drilling.  The results provide us with confidence in the existing Resource and the significant potential for expansion and upgrading of the Resource.  While we await the northern results, we will now focus on reviewing the existing Resource to evaluate the potential for updating that Resource and identifying further extension testing and work requirements in both the southern and central areas of the Project.”


Click Image To View Full Size

 

Figure 1: MI21RC07 drill setup nearing completion of program

The first two drill holes tested gaps in the existing resource and the potential for extensions in the northern margin of the southern area of the resource with excellent results.  Several broad zones of Cu-Co mineralisation were intersected, with results including (refer Table 2 for full results):

MI21RC01

  • - 17m @ 0.33% Cu, 0.08% Co and 0.12g/t Au from 56m

    - 16m @ 1.07% Cu, 0.26% Co and 0.40g/t Au from 80m including a high grade zone of 5m @ 2.92% Cu, 0.50% Co and 1.19g/t Au from 82m (MI21RC01)

MI21RC02

  • - 2m @ 0.07% Cu, 0.29% Co from 41m

    - 16m @ 0.34% Cu, 0.06% Co from 64m

    - 3m @ 0.59% Cu, 0.14% Co from 84m

These results support the up-dip continuity of the Resource and potential northern extension of the southern resource model, in particular, within the current gap area between the southern and central resources.  

In addition, the results have identified that some higher-grade zones may remain untested within the Resource area, providing confidence in the significant growth upside of the existing Inferred Resource located in the southern and central areas of the Project.

Initial RC drill testing of the Northern Extension Area has been completed with visual copper mineralisation observed and results awaited.

The Millennium Project is an advanced exploration and development project located in the Mount Isa region on northwest Queensland, 19km from the Rocklands copper-cobalt processing facility. The Millennium Project holds a 2012 JORC-compliant Inferred Resource of 5.9MT @ 1.08% CuEq1 across five granted Mining Leases with significant potential for expansion, all proximal to processing solutions and excellent infrastructure in the Mount Isa region.

MBK has an exclusive 6 month option over the Millennium Project under its agreement with Global Energy Metals and its wholly owned subsidiary, Element Minerals Australia Pty Ltd.  At the end of the option period, MBK will have the right to commence a formal earn-in to earn up to an 80% interest in the Millennium Project.

Millennium Drilling Program

The Millennium drilling program commenced 11 August 2021 in the Southern Area (as shown in Figure 2 below), with two reverse circulation (RC) holes for 195m (MI21RC01-02) aimed at testing resource gaps and low confidence zones as part of Resource validation work.

A further 5 RC holes for 478m (MI21RC03-07) were completed in the Northern Extension Area (also shown in Figure 2) testing potential for mineralisation in the northern part of the Millennium Project area as indicated by previous mapping, geochemistry and structural interpretation.  Refer to Table 1 and Tble 2 for full drilling details.

Southern Area Drilling

MI21RC01 was undertaken to infill a gap in the 2016 resource model in an area of low confidence drilling (Figures 2 and 3). Two main, broad zones of Cu-Co mineralisation and associated alteration were noted including semi-massive sulphides of bornite, chalcopyrite and pyrite. These two zones returned assay results of 17m @ 0.33% Cu, 0.08% Co and 0.12g/t Au from 56m (with peak 1m assay values of 0.91% Cu), and 16m @ 1.07% Cu, 0.26% Co and 0.40g/t Au from 80m, including a high grade zone of 5m @ 2.92% Cu, 0.50% Co and 1.19g/t Au from 82m. In addition, several other intervals of notable elevated Cu and Co were returned.

These MI21RC01 results support up-dip continuity of mineralisation into an area outside the 2016 Resource model area and in addition, identify potential for lateral extension of the Resource to the north within the current gap region between the Southern Area and Central Area resources.

Importantly, the results highlight significant Co values in areas previous indicated to be marginal, and also suggests that other high grade zones may be present at Millennium in structurally controlled shoots not previously targeted by drilling.


Click Image To View Full Size

 

Figure 2: Millennium Project plan view showing interpreted basement geology, existing Millennium resource zones, previous and MBK drilling plus exploration targets, including the Northern Area extension target zone.

Figure 3: Millennium 7722860N section showing previous resource drill holes,


Click Image To View Full Size

2016 resource model and MI21RC01.

 

MI21RC02 (Figure 2 and 4) was drilled to validate and infill the 2016 Resource model in an area of structural complexity and modelled low grade.

Drilling successfully validated the model with mineralisation observed over a broad interval returning 16m @ 0.34% Cu, 0.06% Co and 0.06g/t Au from 64m (Figure 4).  Notably, as with MI21RC01, there are peripheral higher grades of interest including 2m @ 0.07% Cu and 0.29% Co from 41m above this broader zone, and a lower zone of 3m @ 0.59% Cu, 0.14% Co from 84m.


Figure 4: Millennium 7722800N section showing previous resource drill holes,


Click Image To View Full Size

2016 resource model and MI21RC02.

 

The results from the two southern drill holes, combined with previous drilling results by GEMC summarised below, are considered very encouraging, providing confidence in the potential to expand and upgrade the current Resource.

Southern Area Previous Drilling

GEMC conducted a 10-hole, 1,141 metre drilling campaign on the Millennium Project during 2017 and 2018 to test the up-dip continuity at the Millennium North deposit and confirm historical estimates of cobalt mineralisation reported in 2016 by Hammer Metals2.  GEMC were successful in both duplicating historical results, demonstrating the continuity of mineralisation within the mineralised zone and in determining mineralisation continues to depth3, including 28m @0.35% Cu and 0.2% Co (MIRC026). Significantly, cobalt and copper mineralisation was encountered along the entire targeted 1500 metre strike length with the zones remaining open in all directions4.

Prior the GEMC’s involvement, the project area had been tested by only 73 drill holes (percussion, RC and diamond) for a total of 7,891 metres.  Most holes have been drilled within 200 metres of surface, with few holes reaching to depths greater than 250 metres below surface.  At present mineralisation remains open at depth and along the strike extent of the JORC resource area5.  

Northern Area Drilling

First-pass drilling in the Northern Area for (MI21RC03-07) has been completed, testing anomalous Co-Cu geochemistry, previously mapped geological units and structure coincident with anomalous Cu-Co geochemistry similar to the mineralisation in the Southern and Central Areas. This area has had no previous drilling and does not form part of the existing JORC Resource area. Visual copper oxides and sulphides were observed downhole and appear best associated with contact zones between metasedimentary units and graphitic siltstones, however, some variation to previously interpreted geology was noted. Assay results are awaited.

Further Work

While results from the Northern Area are pending, MBK will commence a review of all existing results in the JORC Resource areas to assess the existing Resource, to evaluate the scope for a resource update and to form a view on the areas for extension testing and further work requirements in both the Southern and Central Areas of the resource.

Upon receipt of results, the Northern Area will be assessed for economic potential and larger scale targets potentially associated with the Fountain Range/Pilgrim Fault system.

Table 1: Completed drill hole details

Hole ID

Easting

Northing

RL

DIP

MAG AZI

AMG AZI

Depth (m)

MI21RC01

415946

7722858

237

-82

90

96

100

MI21RC02

415939

7722807

241

-78

82

88

95

MI21RC03

416316

7724444

248

-55

81

87

100

MI21RC04

416387

7724453

245

-55

83

89

95

MI21RC05

416337

7724695

250

-55

83

89

94

MI21RC06

416388

7724697

248

-55

83

89

100

MI21RC07

416450

7724700

250

-55

83

89

89

Table 2: MI21RC01-02 notable intersections

Hole ID

From

Interval (m)

Cu%

Co%

Au g/t

MI21RC01

46

3

0.48

0.03

0.29

MI21RC01

56

17

0.33

0.08

0.12

MI21RC01

80

16

1.07

0.26

0.40

including

82

5

2.92

0.50

1.19

and

91

1

0.12

0.50

0.02

MI21RC02

41

2

0.07

0.29

0.07

MI21RC02

45

1

0.33

0.02

0.18

MI21RC02

64

16

0.34

0.06

0.06

MI21RC02

81

82

0.08

0.20

0.02

MI21RC02

84

3

0.59

0.14

0.02

NOTE: 0.2% Cu cut-off, 3m maximum internal dilution. Co values > 0.2% listed outside Cu% cut-off ranges. All results reported are downhole intervals and interpreted 70-75% true width.

The Millennium Project

The Millennium Project is a significant advanced copper-cobalt-gold (Cu-Co-Au) project with a large defined zone of copper-cobalt mineralisation that remains open for expansion at depth and along strike. Copper-cobalt mineralisation is associated with shear zones hosted within a sequence of volcanic and sedimentary units.

The Millennium Project is strategically located on granted mining leases, less than 20 km from the Rocklands mine site and processing facility and within the economic and infrastructure hub of Mount Isa, Queensland.  

The Mt. Isa Mineral Province is recognized as a world-class mining region, with more than a quarter of the world’s lead and zinc reserves, 5% of the world’s silver resources and 1.5% of the world’s copper resources.

The Project presents as an excellent opportunity to acquire a copper-cobalt asset of significant size with potential to expand mineralisation. Processing solutions and excellent infrastructure exist within the Mount Isa region of Queensland.

Hammer Metals Ltd (ASX: HMX) (‘Hammer Metals’) announced a maiden JORC (2012) resource in 2016 on the Millennium Projecti completed by Haren Consulting, comprised of an Inferred Resource of 5.89 million tonnes @ 1.08 CuEq (using CuEq cutoff of 0.7%), summarised in Table 2 below. The copper equivalent (CuEq) calculation for the Resource was based solely on commodity prices using the following prices: Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz.

Table 3: Millennium JORC (2012) Resource

Cu Eq Cut-off

Tonnes

CuEq (%)

Cu (%)

Co (%)

Au (ppm)

1.00%

3,070,000

1.29

0.35

0.14

0.12

0.70%

5,890,000

1.08

0.32

0.11

0.11

1HMX ASX Announcement dated 6 December 2016 “Millennium Mineral Resource Estimate”.

Copper equivalent (CuEq) calculation was based solely on commodity prices using prices as follows: Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz

2GEMC News Release dated 19 June 2018

3GEMC News Releases dated 17 January 2018, 30 April 2018 , 31 May 2018 and 19 June 2018

4GEMC News Release dated 19 June 2018

 5GEMC News Release dated 6 September 2018

Qualified Person

Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Global Energy Metals Corporation

(TSXV:GEMC | OTC:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle.  The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.  

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

www.globalenergymetals.com

Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals

Subscribe to the GEMC eNewsletter

Cautionary Statement on Forward-Looking Information:  

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.  

GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

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.

We seek safe harbour.

 

Copyright (c) 2021 TheNewswire - All rights reserved.

Today’s News

GGX Gold Corp Retains 360 Aviation for IR Services

VANCOUVER, BC / ACCESSWIRE / September 23, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce that…

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VANCOUVER, BC / ACCESSWIRE / September 23, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce that it has retained the services of 360 Aviation Services Inc. (360) for Investor Relation Services.

360 Aviation Service Inc. a B.C. Corporation is an established capital markets advisory firm servicing Canadian small cap companies across the North American markets.

360 will provide strategic marketing, investor relations and capital markets communications services. 360 will arrange and attend meetings with investors, maintain ongoing contact and broaden relationships with the professional investment community on GGX Gold Corp's behalf. The agreement is for a term of six months and GGX Gold will pay a monthly fee of $4,500. The investor relations agreement remains subject to TSX-V approval.

Barry Brown, chief executive officer of GGX Gold, stated: "We continue to focus on unlocking the value at our Gold Drop Property. The potential of a bulk sample at the C.O.D. vein will provide invaluable information to our team as we continue to advance the project."

The Company also announces that it has granted 975,000 stock options at an exercise price of $0.16 to its directors, officers, employees, consultants and investor relations. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company. Options issued for investor relations vest quarterly over a period of 12 months from the date of issuance. The stock options are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.

On Behalf of the Board of Directors
Barry Brown, CEO
604-488-3900
Office@GGXgold.com

Forward Looking Statement
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. 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 and Revolver undertakes no obligation to update such statements, except as required by law.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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: GGX Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/665389/GGX-Gold-Corp-Retains-360-Aviation-for-IR-Services

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Today’s News

Copper Fox Announces 2021 Third Quarter Operating and Financial Results

Calgary, Alberta–(Newsfile Corp. – September 23, 2021) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased…

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Calgary, Alberta--(Newsfile Corp. - September 23, 2021) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to announce that its unaudited interim consolidated July 31, 2021, financial statements have been filed on SEDAR.

For the nine months ended July 31, 2021, Copper Fox had a net loss of $747,620 (July 31, 2020 - $845,158) which equated to $0.00 loss per share (July 31, 2020 - $0.00 loss per share).

During the nine months ended July 31, 2021, the Company incurred $1,156,194 in expenditures primarily furthering the development of the Van Dyke and Schaft Creek copper projects, and the acquisition costs, the reclamation bond and expenses related to the 2021 exploration program for the Eaglehead copper project. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, the Company's web site at www.copperfoxmetals.com or by contacting the Company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases. All amounts are expressed in Canadian dollars unless otherwise stated.

Elmer B. Stewart, President and CEO of Copper Fox stated, "During the Quarter, our primary focus was the Schaft Creek Preliminary Economic Assessment ("PEA") and advancing the Van Dyke copper project. Compilation of the historical data has significantly increased our understanding of the geometry, controls and potential to located additional polymetallic copper mineralization within the Eaglehead project. The large positive chargeability/resistivity anomalies outlined at Mineral Mountain demonstrate a strong correlation to copper-molybdenum mineralization exposed in outcrop and has provided the confidence to move the project to the drilling stage planned for early 2022."

2021 Q3 Highlights

  • Filed a National Instrument 43-101 Technical Report, containing a Mineral Resource Estimate Update for the Schaft Creek Property.
  • Advanced the PEA for the Schaft Creek project.
  • Completed an induced polarization survey on the Mineral Mountain copper project.
  • Compilation, geological modelling and commencement of the 2021 field program on the Eaglehead project.

After the Period End

  • Retained Montgomery & Associates to prepare a data gap analysis and conceptual Hydrogeological Model for the Van Dyke project.
  • Qualified to trade on the OTCQX® Best Market (trading symbol CPFXF) and retained the services of Stonegate Capital Partners, Inc. for an initial period of six months to provide investor relations services in the United States.
  • Announced the results of the PEA for the Schaft Creek project which yielded an after-tax net present value of US$842.1 million (on 100% basis using constant dollars) and internal rate of return of 12.9%, life of mine EBITDA of US$10.81 billion and free cash flow before recovery of initial capital expenditures of US$9.96 billion.

Warrant Exercised

During the nine months ended July 31, 2021, a total of 33,175,667 warrants were exercised for proceeds to the Company of $5,193,404.

Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.

Selected Financial Results

July 31, 2021April 30, 2021January 31, 2021October 31, 2020
3 Months Ended3 Months Ended3 Months Ended3 Months Ended
Loss before taxes$205,040$343,256$199,324$299,017
Net loss205,040343,256199,324(291,983)
Comprehensive (gain) / loss 32,777842,711791,658(453,015)
Comprehensive (gain) / loss per share, basic and diluted0.000.000.00(0.00)
    
July 31, 2020April 30, 2020January 31, 2020October 31, 2019
3 Months Ended3 Months Ended3 Months Ended3 Months Ended
Loss before taxes$248,589$390,982$205,587$289,922
Net loss248,589390,982205,587188,765
Comprehensive (gain) / loss 940,165(406,527)110,398257,746
Comprehensive (gain) / loss per share, basic and diluted0.00(0.00)0.000.00

 

Liquidity

As of July 31, 2021, the Company's cash position was $3,781,225 (October 31, 2020 - $491,933).

About Copper Fox

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia, and the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox's other mineral properties and investments visit the Company's website at www.copperfoxmetals.com.

For additional information please contact:
Lynn Ball at 1-844-464-2820 or 1-403-264-2820 or investor@copperfoxmetals.com

On behalf of the Board of Directors,

Elmer B. Stewart
President and Chief Executive Officer

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.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, "forward-looking information"). Forward-looking information in this news release include statements about our Van Dyke, Schaft Creek, Mineral Mountain and Eaglehead projects; filing a NI 43-101 Technical Report, Mineral Resource Estimate Update for the Schaft Creek Property; advancing the PEA for the Schaft Creek project; a data gap analysis and conceptual hydrogeological model for the Van Dyke project; acquisition of the Eaglehead project; compilation of data on the Eaglehead project; the 2021 program for the Eaglehead project and the results of a geophysical survey and planned drill program on the Mineral Mountain project.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological, financial, and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are reasonable; the costs and results of planned exploration activities are as anticipated; and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, the PEA on the Schaft Creek project may not be completed as planned or at all; the data gap analysis and conceptual hydrogeological model for the Van Dyke project may not be completed as planned or at all, the 2021 program for the Eaglehead project may not be completed as planned or achieve the desired results; the compilation of Eaglehead exploration results may not be realized; the geophysical survey on the Mineral Mountain project may not result in locating additional mineralization; a drilling program at Mineral Mountain may not be completed as planned or at all; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; trading prices of the Company's common shares may decrease below the exercise price of any outstanding warrants of the Company; and uncertainty as to timely availability of permits and other governmental approvals.

A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97493

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Today’s News

Jayden Completes Continuation to British Columbia

 

Vancouver, B.C. – TheNewswire – September 23, 2021; Jayden Resources Inc., ("Jayden" or the “Company") (TSXV:JDN) announces that at the Company’s…

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Vancouver, B.C. - TheNewswire - September 23, 2021; Jayden Resources Inc., ("Jayden" or the “Company") (TSXV:JDN) announces that at the Company’s annual general and special meeting of shareholders held on July 21, 2021, the Company’s shareholders approved by special resolution the continuation of the Company from the Companies Law (2021 Revision) of the Cayman Islands into the jurisdiction of British Columbia under the Business Corporations Act (British Columbia) (the “Continuation”), and the Company has completed the necessary amendments to the Company’s constating documents to ensure compliance with the Business Corporations Act (British Columbia).

The Continuation is intended to provide management of the Company with increased flexibility, and to reduce administrative costs. There have been no changes to the operations or activities of the Company in connection with the Continuation.

Effective at the market open on September 24, 2021, the common shares of the Company will continue to trade on the TSX Venture Exchange under the name Jayden Resources Inc., under the Company’s existing TSX Venture Exchange stock symbol “JDN”.

Holders of the Company’s current Ordinary Shares are now holders of Common Shares.  The Company’s new CUSIP and ISIN numbers to the Company’s Common Shares are 47208P105 and CA47208P1053 respectively.  A new share certificate for Common shares indicating the Company as a Company continued under the Business Corporations Act (British Columbia) will be issued in the normal course further to share transfers and other share transactions.  In the meantime, holders of existing share certificates that represent Ordinary Shares of the Company will continue to represent Common Shares of the Company.  The existing Ordinary common shareholders do not have to exchange their current share certificates for Common Share certificates with the Company’s transfer agent.

Details of the Continuation is more particularly set out in the Company’s Information Circular dated June 22, 2021 as SEDAR filed on June 22, 2021 in connection with the Company’s July 21, 2021 annual general and special meeting.

For further information about Jayden and this news release please contact Mike Thast at 778-331-2093 or visit Jayden’s website at www.jaydenresources.com.

On Behalf of the Board:

"David Eaton"
President &CEO

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

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