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Yahoo
23-05-2025
- Business
- Yahoo
Mink Ventures Closes Private Placement
TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) ('Mink' or the "Company") announces it has closed the second and final tranche of its non-brokered private placement (the 'Offering') announced on March 13, 2025. The Company has raised gross proceeds from both tranches of $256,750. In the second tranche, the Company raised gross proceeds of $66,750 from the issuance of 667,000 hard dollar units (the "HD Units") at a price of $0.10 per HD Unit. Each HD Unit consists of one common share of the Company (a 'Common Share') and one Common Share purchase warrant ('HD Warrant'). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20. All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month plus a day hold periods expiring on September 24, 2025. The Private Placement is subject to the final approval of the TSX Venture Exchange. The Company paid aggregate finder's fees totaling $1,750 in cash and 17,500 in non-transferable finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20. All of the finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies The Company plans to use the net proceeds raised from the sale of the HD Units and FT Units under the Offering for the exploration and advancement of the Company's Montcalm nickel copper cobalt project, the Warren copper nickel project and, in respect of the HD Unit proceeds, for general working capital purposes. About Mink Ventures Corporation: Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink's Montcalm Project covers 100 km2 adjacent to Glencore's former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). Its Warren Ni Cu Co Project, which covers 1,130 hectares, is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as proximity to the skilled labour and facilities of the Timmins Mining Camp. After giving effect to the share issuance from this tranche of the Private Placement, the Company has 25,678,888 Common Shares outstanding. For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@ or Kevin Filo, Director, T: 705-266-6818 or visit Forward Looking Statements This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, but not limited to, statements with respect to the TSXV final approval of the Offering, the proposed use of proceeds, the exploration potential of the Company's mineral properties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink's filings with Canadian securities regulators available on SEDAR+ at Although Mink has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Mink disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither the 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.
Global News
22-05-2025
- Business
- Global News
Mining claims in Ring of Fire up 66 per cent over past 3 years: environmental group
Mining claims in the Ring of Fire region are up 66 per cent over the last three years and now total an area 14 times the size of Toronto, an environmental group said Wednesday after compiling the data. There are now more than 43,000 claims in the region that is some 450 kilometres north of Thunder Bay, Ont., said Anna Baggio, the conservation director of Wildlands League. 'The claims are exploding, so that's a problem,' said Baggio, who extracted the data from the Ontario Geological Survey site. 'The problem is that much like the rest of Canada, this is all happening under a free entry system where anyone can register a claim as long as they have a prospector's licence and do the Mining Act course.' Ontario has recently tabled legislation, known as Bill 5, that would create so-called special economic zones where any project can be exempt from laws and regulations. Story continues below advertisement Premier Doug Ford has said the Ring of Fire region would be the first such zone and the resources buried there would be crucial to dealing with U.S. President Donald Trump's tariffs that triggered a trade war with Canada. The omnibus bill also proposes to gut protections for endangered plants and animals so that development, particularly mining projects, can be done significantly faster. The bill has sparked anger and criticism from First Nations, environmental groups and civil liberty organizations while garnering support from the mining industry. Energy and Mines Minister Stephen Lecce said the province is working to support two main companies that hold the vast majority of claims in the area by providing infrastructure and the regulatory environment to build mines faster. 'It is a massive bounty of resources of rare earths that the world needs,' Lecce said. Ring of Fire Metals, owned by Australian mining giant Wyloo, and Juno Corp, a Canadian company formed in 2019, own the vast majority of claims in the area that is said to be replete with critical minerals. 1:13 'Global investors are watching,' Premier Ford on resource development in Ontario's Ring of Fire The mining claims are not just stakes filed online, Baggio said. Wildlands League has documented land clearing and other activity after flying over the Ring of Fire several times in recent years. Story continues below advertisement 'These activities are quite damaging,' she said. 'They're clearing land, they're dragging machinery through the bush, they are cutting these trails, they laying down the wires to try and figure out what's going on beneath the ground, it's actually quite a destructive footprint today and we're not even at mine development.' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The Ring of Fire sits in the Hudson Bay Lowlands and is home to nine First Nations. Two First Nations are currently leading an environmental assessment on several roads that would ultimately connect the proposed Eagle's Nest mine and those First Nations to the provincial highway system. The province has inked deals with Webequie First Nation and Marten Falls First Nation that commit Ontario to help build infrastructure projects in and around the communities. The province has also signed a shared-prosperity agreement with Aroland First Nation to rebuild two roads that would connect to the proposed roads to the Ring of Fire. But several other First Nations in the area – and beyond – take issue with developing the land without their consent and would like the province to help solve long-standing water, housing and mental-health crises that plague many remote First Nations before it thinks about mining the land. The province is looking to help several remote fly-in First Nations that do not have electricity – they operate on diesel – get on the grid as part of building the 'corridor to prosperity,' said Indigenous Affairs Minister Greg Rickford. Story continues below advertisement 'It's important to point out that we're talking about half a dozen First Nations communities that are still on diesel power for their electricity sources,' he said. 'You don't want that, I don't want that, and they don't want that.' Rickford pointed to the government's announcement Wednesday that will triple the province's amount of loan guarantees through a provincial Indigenous financing program, to the tune of $3 billion, as proof of Ontario's commitment to economic reconciliation with First Nations. Mining, energy and pipeline projects would all be eligible for the fund, he said. 'Other resource projects across the province are characterized by Indigenous ownership, not impact benefit agreements,' he said. 'These are actual partnership agreements.' He said he wants to see more of that going forward, especially in the Ring of Fire. 'It represents an extraordinary opportunity to have First Nations-led resource activities in forestry and in mining,' he said. But he also doesn't envision thousands of mines opening up in the region. 'The market's saying, 'Well, we'd like to see road access so that one or two of these mines could actually start extraction sooner rather than later,'' he said. Story continues below advertisement The province will also pony up $10 million over three years to create new scholarships for First Nation post-secondary students who are pursing careers in resource development. Sol Mamakwa, the New Democrat provincial representative of Kiiwetinoong, where the Ring of Fire is located, said the government has already failed on its duty to consult. 'These special economic zones are pretty much cheat codes for the government to take control of the land, or what they call 'for strategic purposes,'' Mamakwa said. 'The government is using the current tariff situation to promote development on our treaty lands with no consultation and without First Nations sharing in any of the potential benefits.'
Toronto Sun
22-05-2025
- General
- Toronto Sun
Mining claims in Ring of Fire up 66% in last 3 years: Environmental group
Published May 21, 2025 • 4 minute read A map of the Ring of Fire. Photo by Juno Corp. / Postmedia Network files Mining claims in the Ring of Fire region are up 66% over the last three years and now total an area 14 times the size of Toronto, an environmental group said Wednesday after compiling the data. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account There are now more than 43,000 claims in the region that is some 450 km north of Thunder Bay, said Anna Baggio, the conservation director of Wildlands League. 'The claims are exploding, so that's a problem,' said Baggio, who extracted the data from the Ontario Geological Survey site. 'The problem is that much like the rest of Canada, this is all happening under a free-entry system where anyone can register a claim as long as they have a prospector's licence and do the Mining Act course.' Ontario has recently tabled legislation, known as Bill 5, that would create so-called special economic zones where any project can be exempt from laws and regulations. Premier Doug Ford has said the Ring of Fire region would be the first such zone and the resources buried there would be crucial to dealing with U.S. President Donald Trump's tariffs that triggered a trade war with Canada. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. The omnibus bill also proposes to gut protections for endangered plants and animals so that development, particularly mining projects, can be done significantly faster. The bill has sparked anger and criticism from First Nations, environmental groups and civil liberty organizations while garnering support from the mining industry. Energy and Mines Minister Stephen Lecce said the province is working to support two main companies that hold the vast majority of claims in the area by providing infrastructure and the regulatory environment to build mines faster. 'It is a massive bounty of resources of rare earths that the world needs,' Lecce said. Read More This advertisement has not loaded yet, but your article continues below. Ring of Fire Metals, owned by Australian mining giant Wyloo, and Juno Corp, a Canadian company formed in 2019, own the vast majority of claims in the area that is said to be replete with critical minerals. The mining claims are not just stakes filed online, Baggio said. Wildlands League has documented land clearing and other activity after flying over the Ring of Fire several times in recent years. 'These activities are quite damaging,' she said. 'They're clearing land, they're dragging machinery through the bush, they are cutting these trails, they laying down the wires to try and figure out what's going on beneath the ground, it's actually quite a destructive footprint today and we're not even at mine development.' This advertisement has not loaded yet, but your article continues below. The Ring of Fire sits in the Hudson Bay Lowlands and is home to nine First Nations. Two First Nations are leading an environmental assessment of several roads that would ultimately connect the proposed Eagle's Nest mine and those First Nations to the provincial highway system. The province has inked deals with Webequie First Nation and Marten Falls First Nation that commit Ontario to help build infrastructure projects in and around the communities. The province has also signed a shared-prosperity agreement with Aroland First Nation to rebuild two roads that would connect to the proposed roads to the Ring of Fire. But several other First Nations in the area — and beyond — take issue with developing the land without their consent and would like the province to help solve long-standing water, housing and mental-health crises that plague many remote First Nations before it thinks about mining the land. This advertisement has not loaded yet, but your article continues below. The province is looking to help several remote fly-in First Nations that do not have electricity — they operate on diesel — get on the grid as part of building the 'corridor to prosperity,' said Indigenous Affairs Minister Greg Rickford. 'It's important to point out that we're talking about half a dozen First Nations communities that are still on diesel power for their electricity sources,' he said. 'You don't want that, I don't want that, and they don't want that.' RECOMMENDED VIDEO Rickford pointed to the government's announcement Wednesday that will triple the province's amount of loan guarantees through a provincial Indigenous financing program, to the tune of $3 billion, as proof of Ontario's commitment to economic reconciliation with First Nations. This advertisement has not loaded yet, but your article continues below. Mining, energy and pipeline projects would all be eligible for the fund, he said. 'Other resource projects across the province are characterized by Indigenous ownership, not impact benefit agreements,' he said. 'These are actual partnership agreements.' He said he wants to see more of that going forward, especially in the Ring of Fire. 'It represents an extraordinary opportunity to have First Nations-led resource activities in forestry and in mining,' he said. But he also doesn't envision thousands of mines opening up in the region. 'The market's saying, 'Well, we'd like to see road access so that one or two of these mines could actually start extraction sooner rather than later,'' he said. The province will also pony up $10 million over three years to create new scholarships for First Nation post-secondary students who are pursing careers in resource development. Sol Mamakwa, the New Democrat provincial representative of Kiiwetinoong, where the Ring of Fire is located, said the government has already failed on its duty to consult. 'These special economic zones are pretty much cheat codes for the government to take control of the land, or what they call 'for strategic purposes,'' Mamakwa said. 'The government is using the current tariff situation to promote development on our treaty lands with no consultation and without First Nations sharing in any of the potential benefits.' Toronto & GTA Toronto Maple Leafs Canada Toronto Maple Leafs Canada
National Observer
21-05-2025
- Business
- National Observer
Mining claims in Ring of Fire up 66 per cent over past 3 years: environmental group
Mining claims in the Ring of Fire region are up 66 per cent over the last three years and now total an area 14 times the size of Toronto, an environmental group said Wednesday after compiling the data. There are now more than 43,000 claims in the region that is some 450 kilometres north of Thunder Bay, Ont., said Anna Baggio, the conservation director of Wildlands League. "The claims are exploding, so that's a problem," said Baggio, who extracted the data from the Ontario Geological Survey site. "The problem is that much like the rest of Canada, this is all happening under a free entry system where anyone can register a claim as long as they have a prospector's licence and do the Mining Act course." Ontario has recently tabled legislation, known as Bill 5, that would create so-called special economic zones where any project can be exempt from laws and regulations. Premier Doug Ford has said the Ring of Fire region would be the first such zone and the resources buried there would be crucial to dealing with US President Donald Trump's tariffs that triggered a trade war with Canada. The omnibus bill also proposes to gut protections for endangered plants and animals so that development, particularly mining projects, can be done significantly faster. Ontario has recently tabled legislation, known as Bill 5, that would create so-called special economic zones where any project can be exempt from laws and regulations. The bill has sparked anger and criticism from First Nations, environmental groups and civil liberty organizations while garnering support from the mining industry. Energy and Mines Minister Stephen Lecce said the province is working to support two main companies that hold the vast majority of claims in the area by providing infrastructure and the regulatory environment to build mines faster. "It is a massive bounty of resources of rare earths that the world needs," Lecce said. Ring of Fire Metals, owned by Australian mining giant Wyloo, and Juno Corp, a Canadian company formed in 2019, own the vast majority of claims in the area that is said to be replete with critical minerals. The mining claims are not just stakes filed online, Baggio said. Wildlands League has documented land clearing and other activity after flying over the Ring of Fire several times in recent years. "These activities are quite damaging," she said. "They're clearing land, they're dragging machinery through the bush, they are cutting these trails, they laying down the wires to try and figure out what's going on beneath the ground, it's actually quite a destructive footprint today and we're not even at mine development." The Ring of Fire sits in the Hudson Bay Lowlands and is home to nine First Nations. Two First Nations are currently leading an environmental assessment on several roads that would ultimately connect the proposed Eagle's Nest mine and those First Nations to the provincial highway system. The province has inked deals with Webequie First Nation and Marten Falls First Nation that commit Ontario to help build infrastructure projects in and around the communities. The province has also signed a shared-prosperity agreement with Aroland First Nation to rebuild two roads that would connect to the proposed roads to the Ring of Fire. But several other First Nations in the area – and beyond – take issue with developing the land without their consent and would like the province to help solve long-standing water, housing and mental-health crises that plague many remote First Nations before it thinks about mining the land. The province is looking to help several remote fly-in First Nations that do not have electricity – they operate on diesel – get on the grid as part of building the "corridor to prosperity," said Indigenous Affairs Minister Greg Rickford. "It's important to point out that we're talking about half a dozen First Nations communities that are still on diesel power for their electricity sources," he said. "You don't want that, I don't want that, and they don't want that." Rickford pointed to the government's announcement Wednesday that will triple the province's amount of loan guarantees through a provincial Indigenous financing program, to the tune of $3 billion, as proof of Ontario's commitment to economic reconciliation with First Nations. Mining, energy and pipeline projects would all be eligible for the fund, he said. "Other resource projects across the province are characterized by Indigenous ownership, not impact benefit agreements," he said. "These are actual partnership agreements." He said he wants to see more of that going forward, especially in the Ring of Fire. "It represents an extraordinary opportunity to have First Nations-led resource activities in forestry and in mining," he said. But he also doesn't envision thousands of mines opening up in the region. "The market's saying, 'Well, we'd like to see road access so that one or two of these mines could actually start extraction sooner rather than later,'" he said. The province will also pony up $10 million over three years to create new scholarships for First Nation post-secondary students who are pursing careers in resource development. Sol Mamakwa, the New Democrat provincial representative of Kiiwetinoong, where the Ring of Fire is located, said the government has already failed on its duty to consult. "These special economic zones are pretty much cheat codes for the government to take control of the land, or what they call 'for strategic purposes,'" Mamakwa said. "The government is using the current tariff situation to promote development on our treaty lands with no consultation and without First Nations sharing in any of the potential benefits."
Yahoo
21-05-2025
- Business
- Yahoo
Mining claims in Ring of Fire up 66 per cent over past 3 years: environmental group
TORONTO — Mining claims in the Ring of Fire region are up 66 per cent over the last three years and now total an area 14 times the size of Toronto, an environmental group said Wednesday after compiling the data. There are now more than 43,000 claims in the region that is some 450 kilometres north of Thunder Bay, Ont., said Anna Baggio, the conservation director of Wildlands League. "The claims are exploding, so that's a problem," said Baggio, who extracted the data from the Ontario Geological Survey site. "The problem is that much like the rest of Canada, this is all happening under a free entry system where anyone can register a claim as long as they have a prospector's licence and do the Mining Act course." Ontario has recently tabled legislation, known as Bill 5, that would create so-called special economic zones where any project can be exempt from laws and regulations. Premier Doug Ford has said the Ring of Fire region would be the first such zone and the resources buried there would be crucial to dealing with U.S. President Donald Trump's tariffs that triggered a trade war with Canada. The omnibus bill also proposes to gut protections for endangered plants and animals so that development, particularly mining projects, can be done significantly faster. The bill has sparked anger and criticism from First Nations, environmental groups and civil liberty organizations while garnering support from the mining industry. Energy and Mines Minister Stephen Lecce said the province is working to support two main companies that hold the vast majority of claims in the area by providing infrastructure and the regulatory environment to build mines faster. "It is a massive bounty of resources of rare earths that the world needs," Lecce said. Ring of Fire Metals, owned by Australian mining giant Wyloo, and Juno Corp, a Canadian company formed in 2019, own the vast majority of claims in the area that is said to be replete with critical minerals. The mining claims are not just stakes filed online, Baggio said. Wildlands League has documented land clearing and other activity after flying over the Ring of Fire several times in recent years. "These activities are quite damaging," she said. "They're clearing land, they're dragging machinery through the bush, they are cutting these trails, they laying down the wires to try and figure out what's going on beneath the ground, it's actually quite a destructive footprint today and we're not even at mine development." The Ring of Fire sits in the Hudson Bay Lowlands and is home to nine First Nations. Two First Nations are currently leading an environmental assessment on several roads that would ultimately connect the proposed Eagle's Nest mine and those First Nations to the provincial highway system. The province has inked deals with Webequie First Nation and Marten Falls First Nation that commit Ontario to help build infrastructure projects in and around the communities. The province has also signed a shared-prosperity agreement with Aroland First Nation to rebuild two roads that would connect to the proposed roads to the Ring of Fire. But several other First Nations in the area – and beyond – take issue with developing the land without their consent and would like the province to help solve long-standing water, housing and mental-health crises that plague many remote First Nations before it thinks about mining the land. The province is looking to help several remote fly-in First Nations that do not have electricity – they operate on diesel – get on the grid as part of building the "corridor to prosperity," said Indigenous Affairs Minister Greg Rickford. "It's important to point out that we're talking about half a dozen First Nations communities that are still on diesel power for their electricity sources," he said. "You don't want that, I don't want that, and they don't want that." Rickford pointed to the government's announcement Wednesday that will triple the province's amount of loan guarantees through a provincial Indigenous financing program, to the tune of $3 billion, as proof of Ontario's commitment to economic reconciliation with First Nations. Mining, energy and pipeline projects would all be eligible for the fund, he said. "Other resource projects across the province are characterized by Indigenous ownership, not impact benefit agreements," he said. "These are actual partnership agreements." He said he wants to see more of that going forward, especially in the Ring of Fire. "It represents an extraordinary opportunity to have First Nations-led resource activities in forestry and in mining," he said. But he also doesn't envision thousands of mines opening up in the region. "The market's saying, 'Well, we'd like to see road access so that one or two of these mines could actually start extraction sooner rather than later,'" he said. The province will also pony up $10 million over three years to create new scholarships for First Nation post-secondary students who are pursing careers in resource development. Sol Mamakwa, the New Democrat provincial representative of Kiiwetinoong, where the Ring of Fire is located, said the government has already failed on its duty to consult. "These special economic zones are pretty much cheat codes for the government to take control of the land, or what they call 'for strategic purposes,'" Mamakwa said. "The government is using the current tariff situation to promote development on our treaty lands with no consultation and without First Nations sharing in any of the potential benefits." This report by The Canadian Press was first published May 21, 2025. Liam Casey, The Canadian Press Sign in to access your portfolio
