Latest news with #ChristianTimmins
Associated Press
2 days ago
- Business
- Associated Press
Trans Canada Gold Corp. Ships 2,886 Barrels for the Month of May, From Its Lloydminster Multilateral Heavy Oil Well and Prepares for Upcoming Drilling Program
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / June 12, 2025 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ('Trans Canada' or the 'Company'), is pleased to announce that the Company has now completed another month of steady oil production for the month of May 2025, with trucking and oil sales to Altex. The Lloydminster multilateral well shipped 2,886 barrels (bbl) for the month of May and produced at an average daily rate of 96 bbl/d gross (20 bbl/d net) to the Company since being placed on production, representing its 18.75% working interest ownership in the well. Daily production and shipping sales were slightly impaired due to nine lost shipping days due to a routine pump change and routine equipment maintenance. Production shipping and sales commenced on the first newly drilled Multilateral well, a year ago on October 6th, 2023. Croverro Energy Ltd. is the Operator. The company is announcing the resignation of Christian Timmins as a member of the Board of Director's, with his decision pursue and focus on Pegasus Resources due to time commitment obligations. The Board wishes to thank Mr. Timmins for his contributions to the Company. DRILL PERMIT AND WELL LICENSE APPROVED The Company has now received formal approval for its new Lloyd 5-23-49-1W4 Well with the issuance of its well license and drill permit for the new 7 leg-multilateral well and drill program situated near Lloydminster, Alberta. The Company has agreed to participate to drill a 7 leg Sparky multi-lateral well with Croverro as operator for the Joint Venture. The newly proposed 5-23 multilateral well will be situated adjacent to the Company's successful 12-14 Multilateral Well, near Lloydminster, Alberta. Trans Canada has a 18.75% interest in the new well. This third multi-lateral horizontal well is expected to be similar to the company's successful 7HZ LLOYD 12-14-49-01W4 well, that was drilled in 2023 and encountered 2486 metres of oil pay in the Sparky Oil Formation. The 12-14 Sparky multilateral well has now produced over 100,000 barrels of oil and continues to produce consistently month over month. The newly permitted 5-23 multilateral well when drilled, is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled later this summer subject to rig availability. Drilling, completion and equipping costs are expected to be $1.9 million ($350,000 net to Trans Canada). The well costs are fully funded out of production cash flow thereby preventing any share dilution. Commented Tim Coupland, 'We continue to focus on continued multilateral drilling success in the Sparky Zone, while navigating increased market volatility and lower energy prices in the oil sector. The company remains mindful of the current uncertainty within energy sector including tariff pressures and energy policy direction. We are expecting increased oil production for 2025 with our upcoming drill programs, and we are exploring additional exploration drilling and acquisition opportunities in both central Canada and the United States. The Company will continue with its newly adopted multilateral well drilling strategy for 2025-2026", using new state of the art multilateral well drilling techniques in Alberta and Saskatchewan, to create growth'. ABOUT TRANS CANADA GOLD CORP. - OIL AND GAS PRODUCTION/REVENUE PRODUCING WELLS The Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets primarily situated in Alberta Canada. The Company has qualified Senior exploration management and Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term petroleum and natural gas resource assets. FOR FURTHER INFORMATION, PLEASE CONTACT: Tim Coupland, President and CEO Trans Canada Gold Corp. Tel: (604) 681-3131 [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Trans Canada Gold Corp. press release
Associated Press
13-05-2025
- Business
- Associated Press
Pegasus Completes Disposition of Icefield Property to Ashley Gold Corp.
VANCOUVER, BC / ACCESS Newswire / May 13, 2025 / Pegasus Resources Inc. (TSXV:PEGA)(Frankfurt:0QS0)(OTC PINK:SLTFF) (the 'Company' or 'Pegasus') is pleased to announce that it has completed the disposition of its Icefield Property located in British Columbia to Ashley Gold Corp. ('Ashley'), as initially announced on April 17, 2025. In accordance with the terms of the purchase and sale agreement, Pegasus received an initial payment of 6,000,000 common shares of Ashley Gold on April 22, 2025. An additional 2,000,000 shares are to be issued within 60 days of Ashley receiving drill permits for the Icefield Property. Additionally, Noah Komavli, a Director of Pegasus, has been appointed to the Board of Directors of Ashley, ensuring ongoing representation and strategic oversight. Furthermore, Pegasus announces that pursuant to its stock option plan, the Company has granted incentive stock options to certain directors, officers, and consultants to purchase a total of 725,000 common shares in the capital stock of the Company, exercisable for a period of three years at a price of $0.08 per share. About Pegasus Resources Inc. Pegasus Resources Inc. is a Canadian uranium exploration company focused on advancing high-potential projects in the United States. The Company's flagship asset, the Jupiter Uranium Project in Utah, is a drill-ready property positioned for resource expansion. With a commitment to strengthening domestic uranium supply, Pegasus is strategically developing its portfolio to capitalize on the growing demand for nuclear energy. For additional information, please visit On Behalf of the Board of Directors: Christian Timmins President, CEO and Director Pegasus Resources Inc. 700 - 838 West Hastings Street Vancouver, BC V6C 0A6 PH: 1-403-597-3410 X: X: E: [email protected] 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. Disclaimer for Forward-Looking Information This news release contains certain information that may be deemed 'forward-looking information' with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words 'expects,' 'plans,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'projects,' 'potential' and similar expressions, or that events or conditions 'will,' 'would,' 'may,' 'could' or 'should' occur. Forward-looking information contained in this press release may include, without limitation, statements regarding creation of value for Company shareholders, results of operations the size, timing and completion of the Offering, the use of proceeds from the Offering and the listing of the Common Shares (including the Common Shares underlying the Warrants and the broker warrants) on the TSXV upon closing of the Offering. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at The forward-looking information contained in this press release represents the expectations of Pegasus as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Pegasus may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. SOURCE: Pegasus Resources, Inc. press release
Associated Press
20-03-2025
- Business
- Associated Press
Pegasus Resources Inc. Enters Purchase and Sale Agreement with Ashley Gold Corp. for Icefield Property
VANCOUVER, BC / ACCESS Newswire / March 20, 2025 / Pegasus Resources Inc. (TSX-V:PEGA)(Frankfurt:0QS0)(OTC Pink Sheet:SLTFF) (the 'Company' or 'Pegasus') is pleased to announce that it has entered into a purchase and sale agreement (the 'Agreement') with Ashley Gold Corp. ('Ashley Gold') for the sale of the Icefield Property, located in British Columbia (the 'Property'). This Agreement was signed on March 19, 2025, and no finders fees are associated with the transaction. This strategic transaction underscores Pegasus' commitment to creating shareholder value by monetizing non-core assets while maintaining a strong focus on advancing its flagship uranium projects in the United States. 'Our agreement with Ashley Gold represents a significant step in unlocking value from the Icefield Property while allowing Pegasus to retain strategic exposure to its potential,' commented Christian Timmins, CEO of Pegasus. 'This deal supports our broader strategy of monetizing non-core assets to drive growth in our high-potential uranium portfolio in the U.S. With board representation and equity participation rights, Pegasus remains deeply engaged in the Property's future development.' Director Noah Komavli added, 'This agreement not only secures Pegasus' continuing interest in the Icefield Property via share ownership and Board representation, but also reinforces our collaborative approach to exploration. We are confident that Ashley Gold's expertise will unlock the value of this asset, benefiting both companies and their shareholders. I look forward to working closely with Ashley Gold's management.' Agreement Highlights Purchase Terms: 1. In accordance with the terms of the Agreement, Pegasus will receive 8,000,000 common shares of Ashley Gold (the 'Shares') as follows: (i) 6,000,000 Shares of Ashley Gold upon signing the Agreement, subject to Ashley Gold's filing requirements with the Canadian Securities Exchange. All 6,000,000 Shares have the usual statutory four month and a day hold period, plus agreed contractual hold periods as follows: (ii) 2,000,000 Shares within 60 days of receiving drill permits for the Property. 2. Ashely Gold will grant Pegasus: a seat on Ashley Gold's Board of Directors, ensuring direct influence and oversight of the Property's progress; and the right to participate in future Ashley Gold financings to maintain a minimum of a 10% equity stake in Ashley Gold. 3. Royalty Provisions: Ashley Gold shall assume the entirety of the royalty obligations of Pegasus under its original option agreement and royalty agreement with DG Resource Management Ltd., the original vendor of the Property to Pegasus in 2020. About the Icefield Property Gold Mountain Highlights Location: Early-stage gold-silver property ~50 km NW of Golden, BC, covering 1,863 ha. Historical Results: Vertebrae Ridge Highlights Location: Early-stage copper-polymetallic property ~80 km NW of Golden, BC, covering 5,324 ha. Punch Bowl Highlights Location: Early-stage gold property ~90 km NW of Gold Mountain, covering 1163 ha. Historical Results: Historic assays up to 80 oz/t Au (1960s). Numerous high-grade veins confirmed during 1987/1989 exploration. 2021 Exploration (see January 4, 2022 news release): Discovered a new copper-mineralized zone approximately 2.5 km southeast of the main gold zone. 37 samples were collected, with six samples returning copper values greater than 0.1% and up to 1.68% Cu. 2023 Exploration Program (see December 7, 2023 news release): Conducted an abbreviated late-fall program due to forest fire activity across Canada. 25 rock samples collected, with the following results: Seven samples returned greater than 0.13 g/t Au. Three standout gold values: 4.70 g/t Au, 3.87 g/t Au, and 1.61 g/t Au. Extended the strike length of a gold-bearing quartz vein set to approximately 200 meters. Identified previously unsampled mineralized quartz veins on McGillivray Ridge. Targeted pyrite-bearing quartz veins within recessive phyllitic lenses, historically returning up to 573.7 g/t Au ( Shaw, 1989). Pegasus's Vision for Growth Pegasus remains committed to responsible exploration and delivering shareholder value through the advancement of its uranium projects in Utah and strategic partnerships like this one. NI 43-101 Disclosure The technical information in this news release was prepared and/or reviewed by Nathan Schmidt., a Qualified Person as defined in National Instrument 43-101. Mr. Schmidt is registered as a Professional Geoscientist with Engineers Geoscientists of British Columbia (#48336) and an employee of Dahrouge Geological Consulting Ltd. (Permit to Practice #1003035). Some results discussed in this document are historical. Pegasus Resources nor the qualified person have performed sufficient work or data verification of the historical data. Historical Ag and Au results from Gold Mountain were presented in original documentation as troy oz/short ton and were converted to g/t using conversion of 34.28. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the 'Project's potential and are relevant for any future exploration program. About Pegasus Resources Inc. Pegasus Resources Inc. is a diversified junior Canadian mineral exploration company advancing high-potential uranium projects in Utah, USA. The Company remains committed to responsible exploration and creating value for its shareholders. On Behalf of the Board of Directors: Christian Timmins President, CEO and Director Pegasus Resources Inc. 700 - 838 West Hastings Street Vancouver, BC V6C 0A6 PH: 1-403-597-3410 X: 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. Disclaimer for Forward-Looking Information This news release contains certain information that may be deemed 'forward-looking information' with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words 'expects,' 'plans,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'projects,' 'potential' and similar expressions, or that events or conditions 'will,' 'would,' 'may,' 'could' or 'should' occur. Forward-looking information contained in this press release may include, without limitation, statements regarding creation of value for Company shareholders, including value derived from its transaction with Ashley Gold and the results of operations. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at The forward-looking information contained in this press release represents the expectations of Pegasus as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Pegasus may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
