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CORRECTION — Robex Resources Inc.: Excellent December Performance Continuing Into January

CITY OF QUEBEC, Jan. 21, 2022 (GLOBE NEWSWIRE) — Please note that there was an error in a press release issued by Robex Resources Inc. (TSXV: RBX) under…

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CITY OF QUEBEC, Jan. 21, 2022 (GLOBE NEWSWIRE) — Please note that there was an error in a press release issued by Robex Resources Inc. (TSXV: RBX) under the same headline on January 18, 2022, at 09:30 am EST. The corrected release follows:

Robex Resources Inc. (“Robex”, the “Group” or the “Company”) (TSXV: RBX)

Record December production

ROBEX Resources Inc. is pleased to announce a record production in December 2021 with a monthly tonnage of 192,024 tonnes at a grade of 0.94 g/t, producing 166 kg (5,337 oz of doré).

This production rate continues with 95,877 tonnes of ore processed during the first 15 days of January.

The new mining plan established this year enabled us to optimize the Nampala resources. The results confirm this strategy’s effectiveness:

Period Tonnage
(tonnes)
Grade
(g/t)
Stripping
(S/M)
Production
(Oz)
Q1 2021 472,410 0.75 5.70 10,642
Q2 2021 474,435 0.82 4.75 11,124
Q3 2021 481,690 0.79 2.77 11,317
Q4 2021 519,749 0.88 3.23 13,471
Annual 1,948,284 0.81 4.11 46,554

We have seen a continuous improvement throughout 2021:

  • Tonnage was up strongly, which is explained by the commissioning of multiple investments: first the cone crusher, then in December the new cyclone pumps that enabled us to achieve the December production record. Investment in a new crusher feeder planned for 2022 should enable us to further improve the plant’s efficiency.
  • Steady improvement in grade and stripping ratio with the new mining plan.

Improvement in production costs

The combined effect of tonnage increase, grade improvement and lower stripping ratio have significantly improved production costs.

External growth

In addition to these production improvements, Robex continues to actively pursue its ambitions for external growth. Accordingly, and as previously announced, management is currently examining various projects to implement the Company’s business plan and achieve its new objectives.

Situation in Mali

Robex is closely monitoring developments in Mali and the possible consequences of international decisions on the mining sector.

For the moment, operations continue as usual with no particular impact.

For more information, the Robex management report and summary interim consolidated financial statements (unaudited) are available on the Company’s website in the Investors section. These reports and other documents produced by the Company are also available at: sedar.com.

A word from the chairman, Mr. Georges Cohen:

“Once again, I congratulate the team for the great work and the improvement in Nampala’s results.

This press release allows me also to thank all our employees in Quebec and Mali for their accomplishments and wish them and our shareholders a great 2022.”

About ROBEX:

Robex Resources Inc. is a TSX-V listed Canadian mining company with exploration properties in Mali and an operating mine. The group has a strong business model, which demonstrated great results with the Nampala mine. With this experience, Robex is now striving to grow in West Africa by acquiring and/or developing new mines.

For more information:

Benjamin Cohen, CEO

Aurélien Bonneviot, investors relations and corporate development

[email protected]

Head office: +1-581-741-7421

This press release contains statements that may be considered “forecast information” or “forecast statements” in terms of security rights. These forecasts are subject to uncertainties and risks, some of which are beyond the control of Robex. Achievements and final results may differ significantly from implicit or explicit forecasts. These differences can be attributed to many factors, including market volatility, the impact of the exchange rate and interest rate fluctuations, mispricing, the environment (tighter regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government politics or regulations (laws and policies), an inability to obtain necessary permits and approvals from government agencies, or any other risk associated with mining and development. There can be no assurance that the circumstances set out in these forecasts will occur, or even benefit Robex. The forecasts are based on the estimates and opinions of the Robex management team at the time of publication. Robex makes no commitment to make any updates or changes to these publicly available forecasts based on new information or events, or for any other reason, except as required by applicable security laws. The TSX Venture Exchange or the Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the authenticity or accuracy of this press release.

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