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Oena Diamond Sales – Q1 2022 Report

VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is…

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VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide a production and operational update for the period 1 September 2021 to 30 November 2021 (Q1 2022) on Oena Diamond Mine located in the Republic of South Africa.

Oena Diamond Mine, Republic of South Africa

Production at the Oena Diamond Mine was limited during Q1 2022 with one mining contractor on site processing both run of mine (“ROM”) material and pan tailings and bantam material (“Tailings”). One Bourevestnik (“BVX”) unit is used for diamond recovery. Mining and processing of ROM and Tailings material occurred during the period and diamond production results for Q1 2022:

  Carats Produced Number of Diamonds US $ / carat average
Q1 2022 169.94 108 1’216

The Oena Diamond Mine continues to produce large and high-quality diamonds as summarized below.

Top 9 Diamonds by Value per Carat for Q1 2022
Diamond Diamond Size (carats) Sold Price US $ US $ / carat
1 13.83 18’362 1’328
2 13.77 42’878 3’114
3 7.73 34’027 4’404
4 4.30 6’449 1’500
5 3.96 3’989 1’008

Pursuant to the News Release issued October 13, 2020, the Company confirms that it has now received shareholder approval of the settlement of outstanding indebtedness to a director of the Company in the sum of C$226,500 by the issuance of an aggregate of 4,530,000 common shares in the capital stock of the Company at a price of $0.05 per share, which transaction is subject to the approval of the TSX Venture Exchange.

The Company also reports that Mr. Simon van der Loo has resigned as CFO due to personal reasons. Terry L. Tucker has consented to act as Interim Chief Financial Officer and holds the position at the discretion of the Board of Directors.

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

THE BOARD OF DIRECTORS OF SOUTHSTONE MINERALS LIMITED

[email protected] 

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.

Forward-Looking Statement
Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; COVID-19; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

 

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St-Georges to Prosecute its Claims Against Litigious UK Group

 

Montréal, January 22, 2022 – St-Georges Eco-Mining Corp. (CSE: SX) (OTCQB: SXOOF) (FSE: 85G1) announces today that it has served a statement of…

 

Montréal, January 22, 2022St-Georges Eco-Mining Corp. (CSE: SX) (OTCQB: SXOOF) (FSE: 85G1) announces today that it has served a statement of claims to BWA Group PLC, “BWA”, and its subsidiary, Kings of the North Corp. The claims seek damages of $277,640 for breach of contract and various other causes of action.

The Corporation is aware of the press release issued by BWA on December 31, 2021, in which BWA states that it has commenced a civil action against the Corporation in relation to the KOTN transactions. The BWA claim seeks, among other things, damages of $1,500,000 against the Corporation and its former CEO, alleging breach of contract, conspiracy and various other causes of action (the “BWA Claims”).

The Corporation believes the BWA claims are entirely without merit and frivolous. The Corporation will vigorously defend the BWA Claims and will prosecute its own claims against BWA and KOTN.

Under the circumstance, the Corporation will also undertake to divest its interest in BWA gradually.

“(…) Legal litigation is not part of St-Georges’ business model (…) the Company has mandated its lawyers to handle this file and is not expecting management to be side-tracked from the pursuit of its business goals and objectives (…) although a nuisance, the distraction that this lawsuit seeks to create, is not significant in relation to the corporation’s strategic development plan (…)” commented St-Georges’ COO, Frank Dumas.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Frank Dumas”

 

FRANK DUMAS

COO & Director.

 

About St-Georges Eco-Mining Corp.

 

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com

 

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

Copyright (c) 2022 TheNewswire – All rights reserved.

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Ford Nicholson Announces Filing of Early Warning Report Related to Earl Resources Limited

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Ford Nicholson announced today that on December 22, 2021 he acquired, directly or indirectly,…

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Ford Nicholson announced today that on December 22, 2021 he acquired, directly or indirectly, beneficial ownership, control or direction over 4,927,592 common shares (the “Purchased Shares“) of Earl Resources Limited (the “Company“). Mr. Nicholson acquired the Purchase Shares on December 22, 2021 through share purchase transactions between Mr. Nicholson and various private sellers at a price of $0.035, for an aggregate purchase price of $17,246.58 (the “Share Acquisitions”). 1,122,543 of the Purchased Shares were acquired directly by Mr. Nicholson and 3,805,049 Shares were acquired through Kepis & Pobe Financial Group Inc. and Kepis & Pobe Investments Inc., entities wholly-owned by Mr. Nicholson. The Purchased Shares represent 14.64% of the current number of issued and outstanding common shares of the Company. Mr. Nicholson now beneficially owns or controls, directly or indirectly, an aggregate of 5,635,092 common shares, representing 14.64% of the Company’s issued and outstanding common shares.

As a result of inadvertence on the part of Mr. Nicholson, an early warning report and new release required by applicable securities for the Acquisition was not filed. Until all compliance issues related to Mr. Nicholson’s failure to file early warning and insider reports have been resolved, Mr. Nicholson will not acquire and/or dispose of any securities of the Company.

Mr. Nicholson acquired the Purchased Shares for private investment purposes and may, in the future and subject to applicable law, increase or decrease his beneficial ownership or control over securities of the Company depending upon a number of factors, including but not limited to general market and economic conditions and other available investment opportunities.

An early warning report reflecting the above noted is now available under the Company’s sedar profile at www.sedar.com. For further information, or to request a copy of the early warning report, please contact the following:

Ford Nicholson
Telephone: (604) 417-8032

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

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111217






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Maritime Resources Closes Previously Announced Sale of Royalty Portfolio

Toronto, Ontario–(Newsfile Corp. – January 21, 2022) – Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce the closing…

Toronto, Ontario–(Newsfile Corp. – January 21, 2022) – Maritime Resources Corp. (TSXV: MAE) (“Maritime” or the “Company”) is pleased to announce the closing of its previously announced asset sale transaction with Nomad Royalty Company Ltd. (“Nomad”). Maritime sold a portion of its royalty portfolio in a number of Canadian exploration projects in Quebec, British Columbia and Ontario to Nomad for US$700,000, which was satisfied through the issuance of 96,818 Nomad common shares. As part of the asset sale process, a right of first refusal associated with one of the royalties being sold was exercised and the applicable royalty was sold for approximately $375,000, being the Canadian dollar equivalent of US$300,000.

Garett Macdonald, President and CEO of Maritime, commented, “This agreement realizes the value of our royalty portfolio today while also providing upside exposure through an equity position in Nomad, one the industry’s fastest growing royalty companies.”

About Maritime Resources Corp.

Maritime holds a 100% interest, directly and subject to option agreements entitling it to earn 100% ownership, in the Green Bay Property, including the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King’s Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000-2004.

On Behalf of the Board:

Garett Macdonald, MBA, P.Eng.
President and CEO

For further information, please contact:

Tania Barreto, CPIR
Head of Investor Relations
1900-110 Yonge Street, Toronto, ON M5C 1T4.
www.maritimeresourcescorp.com

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Caution Regarding Forward-Looking Statements:

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects”, “intends”, “indicates” “plans” and similar expressions. Forward-looking statements include statements concerning the anticipated closing of this asset Sale Agreement, potential to increase mineral resource and mineral reserve estimates, the Company’s decision to restart the Project, the Company’s plans regarding depth extension of the deposit at Hammerdown, the Company’s plans regarding completing additional infill and grade control testing within the PEA mine plan, the Company’s plans regarding drilling targets previously identified, the anticipated timing of provincial environmental assessment approval for Hammerdown and the Company’s activities related to the Nugget Pond gold circuit, including receipt of certain approvals related to those activities, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus outbreak; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company’s proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company’s properties; uncertainty as to whether the acquisition of the Nugget Pond gold circuit will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange (“TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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/111200









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