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Osisko Metals Intersects 6.00 Metres Grading 20.78% Zinc + Lead at Pine Point

MONTREAL, Nov. 24, 2021 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51)…

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MONTREAL, Nov. 24, 2021 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals“) (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce further results from the current in-fill drill program at its Pine Point Project, located in the NWT.

The results reported herein are from the L65 Tabular deposit in the Central Zone (see Map 1 and Tables 1 & 2) and form a part of the C1 Cluster area that has recently demonstrated improved hydrogeological modelling and substantially reduced dewatering requirements (see news release dated October 27, 2021).

Highlights:

  • Drill hole L65-21-PP-009 intersected 6.00 metres grading 7.11% Zn and 1.73% Pb (8.84% Zn+Pb) in well-developed tabular mineralization.
  • Drill hole L65-21-PP-033B intersected 6.00 metres grading 20.06% Zn and 0.72% Pb (20.78% Zn+Pb) in well-developed tabular mineralization.
  • A number of well-mineralized intercepts occur outside underground stope areas that were modelled in the 2020 PEA.
  • The L65 deposit is part of the C1 cluster (1.17MT @ 6.00% Zn and 1.8% Pb underground Inferred Mineral Resource) and is open to the west where it may connect with the nearby M67 deposit (0.67MT @ 4.41% Zn, 1.45% Pb open pit Inferred Mineral Resource), located 300 metres away.

Following recent positive hydrogeological results and significant spot zinc price increases, the Company will remodel this area with revised cost estimates and price forecasts. The objective is to convert the underground Mineral Resources in the Central Zone to open pit mining methods similar to the other four neighboring proposed open pits in the C1 Cluster. The potential opportunity is to simplify the operational aspects and reduce mining costs for this Cluster of deposits.

Robert Wares, CEO and Chairman, commented: “The excellent infill drilling results announced today add to the significant impact of our updated dewatering assumptions. The cluster mining strategy will potentially result in a simplified mine plan in the C1 Cluster. We will be able to leverage these improvements to other clusters and possibly expand the total tonnage mined and mine life at Pine Point. Shareholders are reminded that only 39.6Mt of the larger 52.4Mt resource was utilized in the 2020 PEA. We are excited to see the final impact of the updated dewatering model in our updated PEA expected in Q1 2022.”

The L65 mineralization is shallow and flat-lying, intersected between 60 and 87 metres vertical depth. Results were consistent with respect to the current resource block model and provided partial infill spacing required for the L65 deposit to meet the Indicated Mineral Resource threshold as defined in the 2020 PEA. The holes also further confirmed historical data.

Drilling to date has been conducted where summer access was available, and the Company is now in preparation for the 20,000 metres winter drilling program.

Hydrogeological Program Update

Modelling is ongoing for the other Clusters of deposits as part of the Life of Mine Planning that will be included in the Q1 2022 PEA Update.

Two additional holes within the L65 zone have been cased with internal perforated PVC for hydrogeological purposes. Further testing is planned for December.

Table 1: Composite assay results.

Hole Name

Area

Deposit

From To Drill Width True Width Zn Pb Zn+Pb
(m) (m) (m) (m) % % %
L65-21-PP-001 Central L65 68.73 74.00 5.27 5.27 4.84 1.79 6.63
L65-21-PP-002 Central L65 64.00 71.00 7.00 6.99 4.02 0.52 4.54
L65-21-PP-003 Central L65 68.42 71.42 3.00 3.00 7.24 2.25 9.49
L65-21-PP-004 Central L65 68.21 69.44 1.23 1.23 26.96 9.55 36.51
L65-21-PP-005 Central L65 73.00 74.00 1.00 1.00 0.53 0.00 0.53
L65-21-PP-006 Central L65 64.00 68.00 4.00 4.00 3.56 0.72 4.27
L65-21-PP-007 Central L65 70.00 75.00 5.00 5.00 3.69 2.71 6.40
L65-21-PP-007 Central L65 79.00 81.00 2.00 2.00 12.15 1.33 13.47
L65-21-PP-008 Central L65 69.00 70.00 1.00 1.00 7.39 9.16 16.55
L65-21-PP-009 Central L65 81.00 87.00 6.00 6.00 7.11 1.73 8.84
L65-21-PP-010 Central L65 69.00 71.00 2.00 2.00 12.68 7.81 20.49
L65-21-PP-011 Central L65 73.60 76.86 3.26 3.26 3.80 1.76 5.56
L65-21-PP-012 Central L65 70.00 71.00 1.00 1.00 5.89 1.84 7.73
L65-21-PP-013 Central L65 80.70 84.10 3.40 3.39 7.28 1.65 8.93
L65-21-PP-014 Central L65 70.35 73.35 3.00 3.00 6.51 1.76 8.28
L65-21-PP-014 Central L65 77.84 81.65 3.81 3.81 26.01 3.11 29.11
L65-21-PP-015 Central L65 72.00 73.00 1.00 1.00 0.06 1.50 1.56
L65-21-PP-016 Central L65 71.63 72.35 0.72 0.72 8.25 3.11 11.36
L65-21-PP-017 Central L65 77.60 80.10 2.50 2.50 15.23 2.33 17.56
L65-21-PP-018 Central L65 67.25 75.00 7.75 7.74 4.99 0.81 5.80
L65-21-PP-019 Central L65 73.85 75.85 2.00 2.00 24.30 26.04 50.34
L65-21-PP-020 Central L65 72.00 75.00 3.00 3.00 8.16 2.15 10.31
L65-21-PP-021 Central L65 64.02 64.72 0.70 0.70 17.55 4.06 21.61
L65-21-PP-022 Central L65 69.10 71.10 2.00 1.93 8.02 8.41 16.43
L65-21-PP-023 Central L65 69.20 71.20 2.00 1.96 7.56 5.34 12.90
L65-21-PP-024 Central L65 67.75 69.00 1.25 1.23 7.85 11.58 19.42
L65-21-PP-025 Central L65 62.47 63.23 0.76 0.73 1.06 2.68 3.74
L65-21-PP-025 Central L65 70.95 72.00 1.05 1.01 1.50 0.16 1.66
L65-21-PP-026 Central L65 62.15 63.15 1.00 1.00 13.50 4.39 17.89
L65-21-PP-027 Central L65 66.78 67.67 0.89 0.89 0.73 0.02 0.75
L65-21-PP-028 Central L65 71.67 75.67 4.00 3.99 9.96 1.81 11.77
L65-21-PP-029 Central L65 67.75 69.75 2.00 2.00 0.92 1.45 2.96
L65-21-PP-030 Central L65 60.42 64.42 4.00 4.00 22.61 0.75 23.36
L65-21-PP-031 Central L65 69.00 77.79 8.79 8.78 5.70 0.50 6.20
L65-21-PP-031 Central L65 84.00 86.43 2.43 2.43 14.39 8.09 22.48
L65-21-PP-032 Central L65 67.86 68.86 1.00 1.00 0.21 0.00 0.21
L65-21-PP-033B Central L65 72.00 78.00 6.00 6.00 20.06 0.72 20.78
L65-21-PP-034 Central L65 69.75 71.75 2.00 2.00 11.49 1.24 12.72
L65-21-PP-035 Central L65 66.85 71.85 5.00 5.00 10.43 2.36 12.79
L65-21-PP-036 Central L65 64.85 65.85 1.00 1.00 0.00 0.02 0.02


Table
2: Drill Hole Collar Locations (NAD83 (CSRS) Zone 11)

Hole Name Area Deposit Easting Northing Elev. (m) Azimuth Dip Length
(m)
L65-21-PP-001 Central L65 628418.6 6743812.8 216.8 0 -90 78
L65-21-PP-002 Central L65 628438.2 6743826.5 217.7 0 -90 78
L65-21-PP-003* Central L65 628458.4 6743830.2 218.3 0 -90 87
L65-21-PP-004 Central L65 628463.5 6743793.7 217.8 0 -90 81
L65-21-PP-005 Central L65 628485.6 6743804.2 217.9 0 -90 78
L65-21-PP-006 Central L65 628505.8 6743815.7 216.9 0 -90 86
L65-21-PP-007 Central L65 628484.1 6743829.3 217.4 0 -90 89
L65-21-PP-008 Central L65 628473.9 6743845.9 218.3 0 -90 81
L65-21-PP-009 Central L65 628502.1 6743874.7 218.7 0 -90 96
L65-21-PP-010 Central L65 628518.7 6743843.7 218.3 0 -90 90
L65-21-PP-011 Central L65 628539.9 6743858.8 217.9 0 -90 85
L65-21-PP-012 Central L65 628564.9 6743896.9 218.3 0 -90 87
L65-21-PP-013 Central L65 628527.7 6743913.9 217.6 0 -90 93
L65-21-PP-014 Central L65 628550.7 6743918.4 218.6 0 -90 93
L65-21-PP-015 Central L65 628555.2 6743953.3 216.6 0 -90 81
L65-21-PP-016 Central L65 628586.4 6743968.2 216.9 0 -90 84
L65-21-PP-017 Central L65 628616.7 6743930.4 217.8 0 -90 90
L65-21-PP-018 Central L65 628647.2 6743918.2 216.8 0 -90 90
L65-21-PP-019 Central L65 628672.8 6743927.9 216.8 0 -90 87
L65-21-PP-020 Central L65 628711.4 6743937.8 216.6 0 -90 81
L65-21-PP-021 Central L65 628736.6 6743993.8 217.8 0 -90 81
L65-21-PP-022* Central L65 628767.2 6743989.0 217.9 155 -75 96
L65-21-PP-023 Central L65 628788.0 6744003.0 218.5 142 -80 87
L65-21-PP-024 Central L65 628816.0 6744010.0 218.5 155 -81 90
L65-21-PP-025 Central L65 628839.0 6744020.0 218.6 155 -75 90
L65-21-PP-026 Central L65 628792.5 6744023.0 218.4 0 -90 90
L65-21-PP-027 Central L65 628810.7 6744034.4 218.7 0 -90 81
L65-21-PP-028 Central L65 628832.3 6744038.5 218.7 0 -90 87
L65-21-PP-029 Central L65 628856.0 6744048.5 218.6 0 -90 78
L65-21-PP-030 Central L65 628882.6 6744048.5 218.6 0 -90 78
L65-21-PP-031 Central L65 628958.1 6744116.5 219.2 0 -90 93
L65-21-PP-032 Central L65 628994.6 6744153.0 219.6 0 -90 72
L65-21-PP-033B Central L65 629014.7 6744161.5 219.7 0 -90 90
L65-21-PP-034 Central L65 629047.5 6744136.7 218.9 0 -90 87
L65-21-PP-035 Central L65 629055.3 6744158.5 219.9 0 -90 84
L65-21-PP-036 Central L65 629081.3 6744179.9 219.5 0 -90 66

* Coupled hydrogeological holes

Qualified Person

Mr. Robin Adair is the Qualified Person and the Vice President Exploration for Osisko Metals Incorporated. He is responsible for the technical data reported in this news release and he is a Professional Geologist registered in the Northwest Territories.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict QA/QC program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from the Pine Point project area were securely transported to its core facility at the Pine Point project site, Northwest Territories where they were logged and sampled. Samples selected for assay were shipped via secure transportation to the ALS Canada Ltd.’s preparation facility in Yellowknife. Pulps were analyzed at the ALS Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for ultra-trace level detection for a multi-element suite with a 1% upper detection limit for base metals. Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade, four acid digestion and ICPAES analysis with an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration. Current drill program is following strict COVID19 protocols, has been underway since January 15th 2021 and is in progress. Further assay results are pending.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the base metal space. The Company controls one of Canada’s premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories for which the 2020 PEA has indicated an after-tax NPV of $500M and an IRR of 29.6%. The Pine Point Project PEA is based on current Mineral Resource Estimates that are amenable to open pit and shallow underground mining and consist of 12.9Mt grading 6.29% ZnEq of Indicated Mineral Resources and 37.6Mt grading 6.80% ZnEq of Inferred Mineral Resources. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, North West Territories, Canada” dated July 30, which has been filed on SEDAR. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, and has an electrical substation as well as 100 kilometres of viable haulage roads already in place.

The current Mineral Resources mentioned in this press release conform to NI43-101 standards and were prepared by independent qualified persons, as defined by NI43-101 guidelines. The abovementioned Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological grade and/or quality of continuity. Zinc equivalency percentages are calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs, smelter payable metals and charges (see respective technical reports for details).

For further information on this press release, visit www.osiskometals.com or contact:

Robert Wares, CEO

Osisko Metals Incorporated

Email: [email protected]

www.osiskometals.com

 

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking information pertaining to the Pine Point Project, including, among other things, the results of the PEA and the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Pine Point Project will be an robust operation and profitable at a variety of prices and assumptions; the expected high quality of the Pine Point concentrates; the potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of tax revenue and contribution of jobs; and the Pine Point Project having the potential for mineral resource expansion and new discoveries. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise additional capital on reasonable terms to advance the development of its projects and pursue planned exploration; future prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of governmental and third party approvals; licences and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of equipment; and positive relations with local groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public documents filed at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a217e47f-3adb-4434-8623-1f6b012cc0ff








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Secova Initiates NI 43-101 Technical Report for the Montauban Site and Announces C$5M in Private Placement

Secova Metals Corp. (CSE:SEK), (CSNX:SEK.CN) has engaged M. Langton to prepare the NI 43-101 Technical Report

 

VANCOUVER, BRITISH COLUMBIA – TheNewswire – November 25, 2021 – Secova Metals Corp. (“Secova” or the “Company”) (CSE:SEK), (CSNX:SEK.CN), (OTC:SEKZF) is pleased to announce the Company has retained John Langton, M.Sc., P. Geo of JPL GeoServices Inc. to produce a  NI-43-101 Technical Report and Mineral Resource Estimate on the Montauban Site project located in the Montauban Mine Property, sector of Notre-Dame-de-Montauban municipality, Quebec (“Montauban” or the “Project”).

 

“The Company is very pleased to engage M. Langton to prepare the NI 43-101 Technical Report and Mineral Resource as he has extensive experience with the Project,” stated Brad Kitchen, President and CEO of Secova.  “John has worked with DNA Canada, the prior owners of the Montauban Project, to build an extensive database and model of the mineralization and prepared the most recent NI 43-101 Technical Report on the Project in March 2019.”

Convertible Debenture Private Placement

The Company announces a non-brokered private placement of unsecured convertible debentures (the “Debentures”) at a price of $1,000 per debenture for gross proceeds of up to $5,000,000 (the “Offering”).  The Offering is expected to close in tranches with the first tranche expected to close on or about December 15, 2021.  The Debentures will pay interest of 10% per annum on a semi-annual basis, payable in cash or common shares of the Company (“Shares”).  The form of interest payment will be at the discretion of Secova with the exception of the first interest payment which will be paid in Shares at a deemed price of $0.20.  The Debentures will mature on the date that is 36 months following the closing date of the Offering (the “Maturity Date”).

The principal amount of the Debentures will be convertible into Shares at a conversion price of $0.25 (the “Conversion Price”) at the option of the holder at any time prior to the close of business on the last business day immediately preceding the Maturity Date.  The Company will have the right to force conversion at the Conversion Price if the Shares trade at a volume weighted average price of $0.50 or greater for 10 consecutive days, for a period that commences after the statutory hold period commences.  

All securities issued in connection with the Offering will be subject to a statutory hold period expiring in accordance with applicable securities legislation.  The net proceeds of the Offering will be used for development of the Company’s Montauban Project and for working capital.

The Company will pay eligible finders a fee (the “Finder’s Fees”) on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (the “CSE”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.secova.ca.

About the Company

 

Secova Metals Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City. The Company is proposing to commence operations by the middle of 2022. The Company’s main exploration focus is its 100% ownership of the Eagle River project, which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec. Secova will use its expertise in early-stage exploration to create shareholder value by attempting to prove out the resource in these assets.

 

For more information on Secova Metals Corp. please contact [email protected], Tel: +1 604-803-5229 or visit the website at www.secova.ca for the French version of this news release, past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen. For discussion forum on Secova go to https://t.me/secova.

On Behalf of the Board of Directors,SECOVAMETALS CORP.

“BradKitchen”

Chairman,CEO,andDirector

 

Tel:+1604-803-5229

Email:[email protected]

 

 

Telegram: (https://t.me/secova)

 

This press release contains “forward-looking information” that is based on the Company’s current expectations,estimates,forecasts,andprojections.Thisforward-lookinginformationincludes,amongotherthings,statementswithrespect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or othersimilar words and phrases are intended to identify forward-looking information. Forward-looking information issubject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results,level of activity, performance, or achievements to be materially different from those expressed or implied by suchforwardlooking information.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

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North American Nickel Reports on Annual General and Special Meeting

Vancouver, British Columbia–(Newsfile Corp. – November 26, 2021) – North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company"…

Vancouver, British Columbia–(Newsfile Corp. – November 26, 2021) – North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the “Company” or “NAN“) is pleased to report on the results of the Annual General and Special Meeting (the “Meeting“) of shareholders held on November 24, 2021.

The shareholders ratified and approved the number of directors at six (6) and re-elected Charles Riopel, Douglas Ford, John Hick, Christopher Messina, Keith Morrison and Zhen Janet Huang as directors of the Company for the ensuing year.

In addition, Dale Matheson Carr-Hilton LaBonte LLP were re-appointed as auditors and shareholders approved the Company’s Stock Option Plan, the proposed amendments to the plan and the grant of incentive stock options to NAN Chief Executive Officer, Keith Morrison, to purchase 4,993,972 common shares in the capital of the Company as detailed in the Management Information Circular dated as of October 20, 2021.

Following the meeting the board of directors re-appointed Charles Riopel as Chairman, Douglas Ford as Lead Director, Keith Morrison as Chief Executive Officer and Sarah-Wenjia Zhu as Chief Financial Officer.

About North American Nickel

North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Ontario, Canada. In 2019 the Company became a founding shareholder in Premium Nickel Resources (“PNR“) a private Canadian company, to provide direct exposure to Ni-Cu-Co opportunities in the southern African region. PNR has executed a definitive asset purchase agreement with the Liquidator of BCL Limited to acquire the Selebi, and Selebi North nickel-copper-cobalt assets and related infrastructure formerly operated by BCL. In addition, the Company is expanding its area of exploration interest into Morocco.

The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 3,048 square km covering numerous high-grade nickel-copper + cobalt sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland and is accessible from the existing Seqi deep water port with an all-year-round shipping season and hydroelectric power potential from a quantified watershed.

The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-precious metal sulphide deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.

The Company acquired 100% ownership of property near the southern extent of the Lingman Lake Greenstone Belt in northwest Ontario known as Lingman Nickel and in the Quetico region near Thunder Bay Ontario. The acquisition of these properties is part of the Company’s strategy to develop a pipeline of new nickel projects. The Company is evaluating direct and indirect nickel asset acquisition opportunities globally.

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Morrison
Chief Executive Officer
North American Nickel Inc.

For more information contact:

North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
+1 (604) 770-4334

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 STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but is not limited to, statements about the future prospects of any assets or properties of the Company, the ability of the Company to successfully complete due diligence, the ability of the Company to access capital, any spending commitments, the success of exploration activities, the future economics of minerals including nickel and copper, the benefits of the development potential of the properties of the Company, the benefits of drilling and advancement of projects. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105216






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Golden Dawn Provides Update on Greenwood Mine and Mill Following the Heavy Rains in Southwest BC

VANCOUVER, BC / ACCESSWIRE / November 26, 2021 /Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"),…

VANCOUVER, BC / ACCESSWIRE / November 26, 2021 /Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), (“Golden Dawn” or the “Company“), provides an update on the impact of the heavy rains, flooding and mudslides recently experienced in British Columbia on the Company’s core assets.

To date, the heavy rains and flooding in southwestern British Columbia have had no material impact on Golden Dawn’s infrastructure and field operations. There was no significant rainfall in the area of the Greenwood Mill and tailings storage facility and the infrastructure remains in excellent condition and under 24-hour security. Similarly, no impacts were observed at the Lexington mine and the nearby May Mac mine and tailings storage. Golden Dawn continues to monitor these properties regularly. All of Golden Dawn’s other exploration properties are unaffected by the flooding.

Our priority remains the health, safety, and well-being of our employees, contractors and communities.

Project Profile

Golden Dawn’s Greenwood Gold Process Plant is located in the historic Greenwood Mining Division in south-central British Columbia, Canada, approximately 500 km east of Vancouver. The Company’s focus is re-activating the process plant for toll milling of material from surrounding mines. For more information, refer to the company website www.goldendawnminerals.com.

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.

The Company also corrects the finders fees disclosed in it’s November 19, 2021 news release. The correct finders paid to Qwest Investment Fund Management Ltd. are a cash commission of $40,000 and issued 200,000 finders warrants. These finder warrants are valid for 2 years from closing with an exercise price of $0.20. The warrants are subject to a hold period expiring March 13, 2022.

On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.

Per: “Christopher R. Anderson”

Christopher R. Anderson
Chief Executive Officer

For further information, please contact:

Golden Dawn Minerals Inc. – Corporate Communications:
Tel: 604-488-3900
Email: [email protected]

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.

View source version on accesswire.com:
https://www.accesswire.com/674738/Golden-Dawn-Provides-Update-on-Greenwood-Mine-and-Mill-Following-the-Heavy-Rains-in-Southwest-BC




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