
BULGOLD Announces Filing of First Quarter Financial Results For The Three Months Ended March 31, 2025
TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- BULGOLD Inc. (TSXV: ZLTO) (the 'Company' or 'BULGOLD') is pleased to announce that it has filed its unaudited condensed interim financial statements and MD&A for the first quarter ended March 31, 2025. For the 3 months ending March 31, 2025, the company incurred a net loss of $119,150 ($0.00 per share). On March 31, 2024, the company had cash (and cash equivalents) of $252,891.
About BULGOLD Inc.
BULGOLD is a gold exploration company focused on the exploration and development of mineral exploration projects in Central and Eastern Europe. The Company controls 100% of three quality quartz-adularia epithermal gold projects located in the Bulgarian and Slovak portions of the Western Tethyan Belt: the Lutila Gold Project, the Kostilkovo Gold Project and the Kutel Gold Project. Management of the Company believes that its assets show potential for high-grade, good-metallurgy, low-sulfidation epithermal gold mineralisation.
On March 31, 2025, BULGOLD's issued and outstanding shares were 27,597,928 of which approximately 40.3% were held by Founders, Directors and Management. Additional information about the Company is available on BULGOLD's website (www.BULGOLD.com) and on SEDAR (www.sedarplus.ca).
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 press release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include statements regarding the exploration plans of the Company and the timing thereof. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the inherent uncertainty of mineral exploration; risks related to title to mineral properties; and credit, market, currency, operational, commodity, geopolitical, liquidity and funding risks generally, including changes in economic conditions, interest rates or tax rates and general market and economic conditions. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this press release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this press release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements and information contained in this press release are expressly qualified by this cautionary statement.
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Cision Canada
2 hours ago
- Cision Canada
Mayfair Provides Details on Open Pit Design Consideration and Confidence Drill Program to Support Preparation of Fenn-Gib Pre-Feasibility Study
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At a 0.30 g/t gold cutoff, there is a total Indicated Mineral Resource estimate of 181.3 million tonnes at a grade of 0.74 g/t gold containing 4.3 million ounces of gold and an Inferred Mineral Resource estimate of 8.92 million tonnes at a grade of 0.49 g/t gold containing 0.14 million ounces of gold. The mineral resource estimate ("MRE") will be the basis for the PFS which is currently in progress and is expected to be completed by the end of 2025. For the PFS, the Company is targeting a mine design focused on the high-grade mineralization in the upper elevations of the open pit MRE to maximize the feed grade to the proposed processing plant. It is anticipated that the design will include a conventional drill and blast, with truck and shovel open pit mining operation supplying the plant. By applying a strategy that emphasizes an elevated cut-off grade targeting the high-grade near surface mineralization within the MRE, the result will maximize the value of the Fenn-Gib asset in the short-term while maintaining the integrity of the overall resource. Figure 1 shows the possible pit outline of a design using 0.8g/t COG and targeting a high-grade pit. Table 1: Fenn-Gib Open-Pit MRE effective date: 3 Sept 2024 Notes: 1. Effective date of this updated mineral resource estimate is September 3, 2024. The assay cut-off date for drill holes included in the mineral resource estimate was April 30, 2024. 2. All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") definitions, as required under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mineral Resource Statement prepared by Tim Maunula, P. Geo (T. Maunula & Associates Consulting Inc.) in accordance with NI 43-101. 3. 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The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Resources as Indicated or Measured Resources. It is reasonably expected that many of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. 7. Tonnages and ounces in the tables are rounded to the nearest thousand. Numbers may not total due to rounding. Reverse Circulation Drilling Program to Commence in Summer 2025 To provide additional data and improve confidence in the near surface high-grade zone of mineralization targeted in the early years of the proposed mine plan, Mayfair plans to complete a 20,000-metre reverse circulation ("RC") drill program at Fenn-Gib. The RC drilling program is to be completed in two stages. The first stage of the RC drill program is planned to begin in the summer of 2025, utilizing the existing onsite road network to partially test the near surface high grade zone. The second stage of the RC drill program will begin after the 2025 winter freeze-up, when ground conditions improve to allow Mayfair to more effectively complete the remaining RC drill program. This program will also advance additional diamond drilling with open pit geotechnical holes for improved clarity on pit wall designs needed for future operations. Nick Campbell, President and CEO of Mayfair Gold, stated, " Many open pit gold deposits have better grade deeper in the deposit. We believe Fenn-Gib is unique in that some of the highest grade mineralization occurs near surface. This allows for the potential to start operations at Fenn-Gib with a smaller, targeted, mining operation, focused on the near-surface, high-grade gold mineralization. Rather than targeting a larger scale operation, we think this approach allows Mayfair to focus operations on higher margin material at the start of operations, it mitigates construction execution risk, reduces initial capital requirements and provides a clear Ontario Provincial permitting path. With a current Canadian gold price in excess of C$4,600/oz, Mayfair is excited about the opportunity to advance Fenn-Gib into a new gold producer within the current gold cycle. The PFS is expected to be completed by the end of 2025. A nimble, smaller, targeted, high-grade operation should provide a path forward for the company to consider a production decision within the next three years. Advancing Fenn-Gib to production and cash flow should help fund potential future growth opportunities, including the potential to permit and develop a larger operation at Fenn-Gib that optimizes the full MRE." 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Scientific and technical information with respect to diamond drilling in this news release has been reviewed and approved by Ali Gelinas-Dechene, Senior Geologist for Mayfair Gold, who oversaw the Mayfair Gold drill program, QA/QC and serves as a Qualified Person as defined under NI 43-101. The scientific and technical content of this news release was reviewed, verified and approved by Drew Anwyll, Chief Operating Officer of the Company, and a Qualified Person as defined under NI 43-101. Cautionary Notes to U.S. Investors Concerning Resource Estimates. This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms "inferred mineral resources," "indicated mineral resources" and "mineral resources" used or referenced in this news release are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the 2014 Canadian Institute of Mining, Metallurgy and Petroleum Standards for Mineral Resources and Mineral Reserves, Definitions and Guidelines, May 2014 (the "CIM Standards"). The CIM Standards differ from the mineral property disclosure requirements of the U.S. Securities and Exchange Commission (the "SEC") in Regulation S-K Subpart 1300 (the "SEC Modernization Rules") under the U.S. Securities Act of 1933, as amended (the "Securities Act"). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. Accordingly, the Company's disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had the Company prepared the information under the standards adopted under the SEC Modernization Rules. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information which reflects management's expectations regarding the Company's growth, results of operations, performance and business prospects and opportunities. 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Should underlying assumptions prove incorrect, or one or more of the risks and uncertainties described below materialize, actual results may vary materially from those described in forward-looking statements. 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, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; delays or the inability to obtain necessary governmental permits or financing; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labor disputes or other unanticipated difficulties with or shortages of labor; failure of plant, equipment or processes to operate as anticipated; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, gold price fluctuations; uncertain political and economic environments; and changes in laws or policies. The Company undertakes no obligation to publicly update or review the forward-looking statements whether as a result of new information, future events or otherwise, other than as required under applicable securities laws. The forward-looking statements reflect management's beliefs, opinions and projections as of the date of this news release. Neither the TSX Venture Exchange (" TSXV") 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. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. SOURCE Mayfair Gold Corp.


Globe and Mail
6 hours ago
- Globe and Mail
Collective Mining Announces the Appointment of Raphael Maracajá as Vice President Mining
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To access the Meeting through Zoom, shareholders will need to download the application onto their computer or smartphone and once the application is loaded, open the following link: The Meeting ID is 864 7620 8646 and the Passcode is 322809. Shareholders are encouraged to vote their shares in accordance with the instructions as described in the Notice of Meeting and Management Information Circular. About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia . The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines. 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Information Contact: Follow Executive Chairman Ari Sussman (@Ariski73 ) on X Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025 . Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. 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 and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.


Globe and Mail
8 hours ago
- Globe and Mail
Arya Resources Ltd. (RBZ) Upsizes Flow-Through Financing Amid Surging Investor Demand
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