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Silver Spruce contracts MPX Geophysics for Mag/Radiometrics/VLF Airborne Survey on Melchett Lake VMS Project, Ontario

BEDFORD, NS / ACCESSWIRE / October 14, 2021 / Silver Spruce Resources Inc. (the "Company") (TSXV:SSE)(FRA:S6Q1) is pleased to announce a technical services…

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BEDFORD, NS / ACCESSWIRE / October 14, 2021 / Silver Spruce Resources Inc. (the “Company”) (TSXV:SSE)(FRA:S6Q1) is pleased to announce a technical services agreement signed with MPX Geophysics Ltd. (“MPX”) to carry out an airborne survey of the Melchett Lake Zn-Cu-Au-Ag volcanogenic massive sulphide project (“Melchett” or the “Property”). Melchett is an advanced precious and base metal property located in the Thunder Bay Mining District, northern Ontario, Canada (the “Property”). The Property lies 110 km north of Geraldton and 60 km north of Nakina.

“With the ratification of a collaborative exploration agreement with Ginoogaming First Nation and a comparable agreement achieved earlier in 2021 with Aroland First Nation, we are excited to re-launch our exploration program at Melchett Lake. The MPX airborne survey will start this week and require only 3-5 flight days, weather permitting, to complete data collection over the entire Property,” said Greg Davison, Vice-President Exploration and Director of Silver Spruce. “The 2021 Melchett field program was subject to several periods of inactivity related to the early spring with unseasonably high temperatures, poor lake ice conditions and advanced break-up, successful negotiation of multiple land use, environmental management and planning agreements with First Nations, COVID logistical constraints, forest fire access restrictions and regulatory requirements for ENDM exploration permitting.”

Figure 1. Melchett Lake Claims on 2010 Regional Magnetic Survey showing location of MPX Geophysics airborne survey area. Inset map to left indicates property location northeast of Lake Nipigon, Ontario.

“The principal target area for the program has extensive soil and rock geochemical anomalies, known VMS style mineralization from surface to >500 metres depth, highly favorable alteration type and intensity, increasing Cu to Zn with depth, and deep Maxwell modelled plates off-hole from borehole EM surveys. The MPX survey will complement our project ArcGIS database with state of the art, high resolution magnetic, radiometric and VLF data over these promising targets and extend through several historical gold, silver and base metal showings and geochemical anomalies identified on the eastern and western claims. Pending completion of ENDM permitting for ground activities and contractor scheduling, the Relf Lake camp construction and line-cutting by Pleson Geoscience is deferred to January 2022 with the Quantec Geoscience (“Quantec”) deep-penetrating SPARTAN Magnetotelluric (“MT”) survey booked for February 2022.”

MPX Geophysical Survey

The airborne survey will comprise a 927 line-km along N-S flight lines with 100 metre nominal line spacing, and 91 line-km of E-W oriented tie lines with 1,000 metre nominal line spacing (Figure 2). The Property grid will cover a total area of approximately 18 km E-W along the general strike of the VMS mineralization and 5km N-S with three 1 km steps to encompass the claim location. The Piper Aztek aircraft will fly daily from Thunder Bay 310 km SW of the Property.

Figure 2. Melchett Lake Claims showing location of MPX Geophysics airborne survey (UTM WGS 84) using 100m N-S flight lines and 1000m E-W tie lines. Base map – World Imagery.

The survey will collect magnetic, radiometric and VLF EM data supported by leading-edge positioning and processing equipment, both in the aircraft cabin and on the ground with the GEM Systems GSM-19 Base Station Magnetometer and a field data processing workstation.

The aircraft airspeed will be approximately 130-150 knots. Optimum terrain clearances for the aircraft and instrumentation (magnetometer, spectrometer, VLF) during normal survey flying are 70 metres. Vertical position along flight lines will be established using a pressure altimeter, a radar altimeter and GPS height. Final horizontal survey positions will be computed from differentially corrected GPS to a precision of ± 1m.

The attitude and motion of the aircraft in flight, with respect to the Earth’s magnetic field vector, will be monitored/recorded by a three-component fluxgate magnetometer (Billingsley TFM 100G2 Triaxial Fluxgate Magnetometer), which is very sensitive to attitude changes.

The magnetic sensors utilized for the survey are Geometrics 822A or Scintrex CS3 high resolution cesium split-beam total-field magnetometer which will be installed in a tail stinger. Magnetic compensation of the acquired “raw” magnetometer data will be collected in real-time using the RMS Instruments DAARC500/ARC510 Data Acquisition and Aeromagnetic Real-Time Compensator (“RMS”), together with comprehensive and flexible data acquisition and recording. The RMS offers the ultimate in aeromagnetic compensation.

Radiation Solutions RS-500 multi-channel gamma-ray spectrometer with 33.6 liters “downward looking” NaI sensor, and 8.4 litres “upward looking” NaI sensor will be installed on the aircraft for the survey. The RS-500 supersedes all other airborne systems given its advanced DSP / FPGA technologies. The RS-500 is a fully integrated system that includes an individual Advanced Digital Spectrometer (ADS) for each crystal within the detector box.

The Totem VLF sensor utilized for the survey will be a RMSVLF system. This device contains three orthogonal coils, a signal amplifier and it has eight different frequency bands for different VLF transmitters. The VLF system is sampled in the 15-25 kHz. The VLF system employed is configured to simultaneously measure five transmitting stations.

MPX crews will carry out all field activities in Ontario under strictly adhered to corporate and client COVID safety protocols.

Property Highlights

The Property covers 4,716 hectares (230 single cell mineral claims and two multi-cell mineral claims) with VMS and Au targets located in east to southeast-striking, subvertical to moderately north-dipping quartz-sericite schists. These units exhibit steep down-dip to southeast raking or plunging lineations. The tightly folded nature of the Archean metavolcanics is evident as re-interpreted from historical mapping and geological logs, and 2002 Helicopter TEM and MAG survey and 2010 regional airborne magnetic survey, the latter shown on Figure 1. The Melchett Lake belt contains occurrences of polymetallic Zn-Pb-Cu-Ag-Au VMS mineralization similar in several respects to deposits exploited at Geco, Mattabi, and Winston Lake, among others.

The claims to the east and west of the core Relf and Nakina targets cover 11 kilometres of known extensions of the Melchett Lake mineralized horizons and include high potential VMS and Au targets located along sub-parallel isoclinal fold limbs and/or oblique structural breaks interpreted from recently acquired exploration magnetic and GEOTEM data (see Press Release December 4, 2019). These targets exhibit either chargeable, weakly magnetic trends or coincident EM and magnetic responses with the latter related to variable oxide and sulphide content, including pyrrhotite and pyrite, with base metal sulphides and gold. Only limited and shallow exploration diamond drilling was conducted in both the Key Lake area to the west and Iron Lake area to the east.

Highlights of the prospective geology, alteration and mineralization include a strike extent of more than 20 km, multiple folded or stacked horizons of coincident alteration and metal mineralization, high Zn/Cu, Zn/Pb and Ag/Au ratios, increasing Cu/Zn at depth, extensive remobilization of major and trace elements with defined enrichment (Fe, Mg, Co, Cr, Cd) and depletion (Na, Sr, Ca) zones.

Surface samples, as shown in Figure 3, with Fe-sphalerite (blackjack or marmatite), contain locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1%.

Figure 3. Zinc (Fe-sphalerite) mineralization in quartz-sericite-pyrite schist collected by Project QP from the main trench in the Relf Lake Zone.

Other than the two DDH SB drill holes, only limited and shallow historical exploration drilling was conducted in the Relf, Nakina, Half Moon, Key Lake and Iron Lake areas on the Property.

Increased alteration and anomalous metal values reported over large core intervals (up to 245 metres in DDH SB-07-01 from 345-590 metres) are accompanied by strong electromagnetic (BHTEM) off-hole responses in the deepest intervals of the last drill holes tested during 2007 (DDH SB-07-01) and 2012 (DDH SB-08-02).

The richest Zn mineralization in core was reported from DDH SB-08-02 and chalcopyrite occurred in stockwork-style veinlets. The deepest BHTEM Maxwell modelled plate, associated with these heavily altered and mineralized quartz-sericite schists and adjacent silica-rich metavolcanics in the Relf Zone, and which appears to plunge or rake to the east-southeast, remains undrilled to date.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company’s internal Qualified Person for the Melchett Lake Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.

About MPX Geophysics Ltd.

MPX Geophysics is an international leader in airborne and remote sensing for the mining, O&G, civil and environmental engineering sectors. MPX operational and HSE procedures are industry-leading. MPX has undertaken more than 500,000 line-km of airborne geophysical surveys worldwide operating from both helicopter and fixed-wing platforms, including numerous projects in northern Canada, in remote and difficult locations. Survey technologies include magnetics, radiometrics, electromagnetics, gravity, MT, LiDAR, data processing and interpretation. The MPX Group of Companies is headquartered in Toronto, Ontario, Canada.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri’s early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos‘s Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining’s Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., central Newfoundland. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
[email protected]

Michael Kinley, CEO and Director
(902) 402-0388
[email protected]

[email protected]
www.silverspruceresources.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.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements,” Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources Inc.

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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







monarch mining corporation

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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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