Latest news with #PEA
National Post
13 hours ago
- Business
- National Post
Spanish Mountain Gold Announces Grant of Stock Options
Article content VANCOUVER, British Columbia — Spanish Mountain Gold Ltd. (the ' Company ' or ' Spanish Mountain Gold ') (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) announces that it has granted 2,860,500 stock options to officers and directors of the Company and 221,500 stock options to employees and consultants pursuant to the terms of the Company's stock option plan. Each option entitles the holder to acquire one Common Share at an exercise price of $0.175 per Common Share for ten years. Article content About Spanish Mountain Gold Ltd. Article content Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company expects to release at the end of Q2, 2025, the results for the Project's newly de-risked and optimized Preliminary Economic Assessment (PEA) with an updated Mineral Resource Estimate (MRE). Upon receipt of the new PEA and updated MRE, the company will decide the next steps to advance the Project to position the company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on Article content Article content and on the Company's website: Article content . Article content On Behalf of the Board, Article content 'Peter Mah' Article content Spanish Mountain Gold Ltd. Article content 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. Article content FORWARD-LOOKING INFORMATION: Article content Certain of the statements and information in this press release constitute 'forward-looking information'. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects', 'anticipates', 'believes', 'plans', 'estimates', 'intends', 'targets', 'goals', 'forecasts', 'objectives', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information. Article content Article content Article content Article content For more information, contact: Article content Article content Article content Article content
Yahoo
a day ago
- Business
- Yahoo
Surge Delivers Preliminary Economic Assessment For High-Grade Nevada North Lithium Project; After-Tax NPV8% US$9.21 Billion and After-Tax IRR of 22.8% OPEX of US$5,097/tonne LCE
NNLP PEA Highlights: After-tax NPV8%: US$9.21 Billion, IRR of 22.8% at US$24,000/t LCE price Operating cost ("OPEX"): US$5,097/t LCE Near-surface, high-grade mineralization provide Surge NNLP advantage PEA mine and processing plan produces 3.6 Mt battery-grade lithium carbonate equivalent ("LCE") over the 42-year life of mine ("LOM") Average Annual Production of 86,300 tonnes LCE Peak Production of 109,100 tonnes LCE in Year 6 Lithium Plant will be built in two phases Phase 1 ("P1") Capital Cost ("CAPEX"): US$2.97 Billion, Phase 2 ("P2") CAPEX: US$2.35 Billion, total of US$5.30 Billion Sustaining Capital: US$1.51 Billion After-tax payback: 4.7 years Average LOM annual after-tax cash flow: US$1.06 Billion West Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to report the results of its 2025 Preliminary Economic Assessment Study ("PEA") for the Nevada North Lithium Project ("NNLP") located in Elko County north-northeast of Wells, Nevada. The PEA, completed jointly by lead consultants M3 Engineering & Technology Corp. ("M3") and Independent Mining Consultants ("IMC"), confirms robust economics for a low-cost, large-scale and long-life conventional open pit and dry-stack tailings operation producing battery-grade lithium carbonate through on-site treatment of the mined material processed through a sulfuric acid leaching circuit. The PEA scenario envisions 2 phases over the initial 42-year mine life. Phase 1 includes 2.58 million tonnes per annum ("Mtpa") processing throughput doubling to 5.15 Mtpa in Phase 2, which comes online in Year 4 of production. A combination of the shallowest and highest lithium grades is prioritized for processing, resulting in a variable battery-grade lithium carbonate production that peaks in Year 6 at 109,100 tonnes LCE, and averages 86,300 tonnes/year LCE for a total of 3.63 million tonnes LCE over the LOM at a lithium recovery of 82.8%. The PEA is derived using the inferred Mineral Resource Estimate ("MRE") effective as of October 9, 2024 and completed by Dr. Bruce Davis (the "MRE"). The effective date of the PEA is May 19, 2025, and a NI-43101 compliant technical report (the "Technical Report") will be filed under the corporations SEDAR+ profile within 45 days of this news release. The preliminary economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The figures shown above represent the NNLP's potential economics with certain LCE selling price assumptions. The NNLP's sensitivity to LCE selling prices is detailed below in Table 2. To model 100% ownership of the subsurface mineral rights on privately held land, Surge has assumed a 2% gross revenue royalty in its economic model on all revenues from the private land. Mr. Greg Reimer, Chief Executive Officer and Director, commented, "We are ecstatic to present the results of this PEA for the Nevada North Lithium Project. Our goal was to demonstrate that even using best in class environmental practices, NNLP could potentially be a major low-cost producer of battery-grade lithium carbonate for the United States battery industry, and we have taken a major step in achieving that with today's results. The NNLP will benefit the local community with a long and stable 42-year mine life, with significant extension potential, that will bring thousands of high paying jobs to northeastern Nevada. Additionally, all of this is possible with a design that doesn't produce a tailings pond. The combination of low OPEX, great ROI, and the ability to produce large quantities of battery-grade lithium carbonate including a peak of 109,100 tonnes in one year showcases the Tier 1 status of NNLP. We received the last assays from our initial drill program in January 2023 and are now reporting an NPV of US$9.21 Billion in a period of 2.5 years. Our goal is to continue to advance and derisk the NNLP at a rapid pace, and we hope for further improvements in the Pre-Feasibility and Feasibility stages of development." Table 1 - NNLP PEA Key Financial Highlights2 Description Units NNLP PEA LCE Selling Price $/tonne LCE $24,000 Life of Mine years 42 Processing Rate P1 / P2 ROM Mtpa 2.58 Mtpa / 5.15 Mtpa Average Throughput (LOM) t/y 4.88 Mtpa LCE Produced (average LOM) t/y 86,300 LCE Produced (total LOM) tonnes 3,626,000 Operating Cost (OPEX) LOM $/tonne LCE $5,097 Gross Revenue $ B $87.0 Capital Cost (CAPEX) P1 $ M $2,973 Capital Cost (CAPEX) P2 $ M $2,350 Total Capital Cost (CAPEX) $M $5,323 Sustaining Capital Costs (undiscounted) $ M $1,514 Project Economics Pre-Tax Net Present Value (NPV) (8%) $ M $11,395 Internal Rate of Return (IRR) % 25.5% Initial Payback Period (undiscounted) years 4.3 Average Annual Cash Flow (LOM) $ M $1,269 Cumulative Cash Flow (undiscounted) $ M $60,911 Post-Tax1 Net Present Value (NPV)8%) $ M $9,214 Internal Rate of Return (IRR) % 22.8% Payback Period (undiscounted) years 4.7 Average Annual Cash Flow (LOM) $ M $1,062 Cumulative Cash Flow (undiscounted) $ M $50,973 Notes:1. Tax calculation includes Federal Taxes, all Nevada State taxes and royalties and Elko County Property Tax estimates as well as available producer tax credits.2. The tabulated calculations are based on inferred mineral resources. Sensitivity Analysis Table 2 presents the NNLP Project's sensitivity to LCE selling price. Table 2 - NNLP Sensitivity Analysis Sensitivity ($)/t LCE $15,000 $18,000 $21,000 Base Case $24,000 $27,000 $30,000 $33,000 Post-tax NPV8% (millions) 2,792 4,983 7,099 9,214 11,314 13,354 15,394 Post-tax IRR (%) 13.0% 16.6% 19.8% 22.8% 25.7% 28.2% 30.6% Project Details The Nevada North Lithium Project is in Elko County in northern Nevada, USA. The Project is approximately 73 kilometers (km) north-northeast of Wells, Nevada, 87 km west of the Utah Border and 35 km due south of the Idaho border. The Project is accessible via a paved highway and county-maintained gravel roads with good regional infrastructure including power and rail. Northern Nevada is a major hub for open pit mining operations and is recognized as one of the most concentrated areas in the world for skilled mining labor. Nevada is home to experienced regulators where Federal and State of Nevada agencies flow well-established protocols for hard rock mine permitting. Drilling has identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 meters and a known width of greater than 1500 meters. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,956 ppm Lithium at a 1,250 ppm cutoff. Mine Life & Production The NNLP is planned as a simple truck and shovel operation that targets the shallow, high-grade portions of the resource in the early mine life. A total of 205 Mt of mineralized material will be mined from the open pit at an average lithium grade of 4,016 ppm. A total of 238 Mt of waste material will be extracted, resulting in a low strip ratio of 1.16. The open pit operation will be executed in 14 pit phases over 42 years, including 3 months of pre-production, with an owner-operated mining fleet. Average LOM production of approximately 86,300 tonnes/year LCE for 42 years. Figure 1 shows the lithium production and lithium grades in the plant feed and the post-beneficiation leached lithium grade by Production Year. The process is based on sulfuric acid leaching and industry standard techniques with a flowsheet that produces a high-purity lithium carbonate that is subsequently upgraded to battery-grade in a refining step. On-site acid production from elemental sulfur minimizes traffic to site, eliminates the hazards of acid shipping, reduces the plant electricity demand, and ensures that best-in-class environmental practices are employed. Beneficiation is employed using Falcon 'C' Concentrators, which results in an average boost of 25% to the lithium grades prior to leaching (see press release dated October 29, 2025 available on the Company's SEDAR Profile). Figure 1 - NNLP Lithium Production and Lithium Grades over LOM To view an enhanced version of this graphic, please visit: Table 3 - LOM NNLP Mining & Production Parameters Parameter Unit Value Mine Production Life Years 42 Material mined LOM Mt 443 Average Grade Mined ppm Li 4,016 Peak ROM head grade to beneficiation1 ppm Li 4,807 Peak Head Grade to Leach1 ppm Li 5,964 Recovered LCE LOM Mt 3.63 Lithium Recovery % 82.8% Waste LOM Mt 238.4 Total Mineralize Material throughput LOM Mt 204.8 Strip Ratio (LOM) (tw:to) 1.16 Notes:1. A combination of shallowest and highest head grades is prioritized through the mine plan. This peak occurs in Year 6. Operating Expense (OPEX) Estimate The operating expenses are based on an operation achieving a LOM average annual production of approximately 86,300 tonnes/year of battery-grade LCE. The average operating cost estimated for the mine and processing facilities are as follows: Table 4 - NNLP OPEX Estimate Area $/tonne LCE Percent of Total Mine $413 8.1% Tailings $287 5.6% Lithium Processing1 $4,260 83.6% General & Administrative $137 2.7% Total $5,097 100% Notes:1. Tailings cost includes coarse gangue, clay tailings, and salt tailings Capital Expense (CAPEX) Estimate The initial Phase 1 CAPEX is estimated to be US$2.95 Billion with a mine CAPEX of $23 million for a total of US$2.97 Billion. The Phase 2 CAPEX is estimated to be US$2.35 Billion. Sustaining Capex is estimated to total US$1.51 Billion over the LOM. The CAPEX is a Class 5 AACE estimate, and includes offsite infrastructure, owner's cost and contingency. The total Phase 1 construction period, including early works, commissioning and start-up is expected to be 3.5 years. Phase 2 is expected to be a 3-year construction and commissioning schedule. Table 5 - NNLP CAPEX Estimates Area Phase 1 Capex ($M) Phase 2 Capex ($M) Sustaining Capital ($M) LoM ($M) Mine $23 $142 $165 Process Plant & Infrastructure $2,950 $2,350 $1,371 $6,671 Total $2,973 $2,350 $1,514 $6,836 Qualified PersonsDaniel Roth, PE and Joshua Huss, PE, of M3 Engineering & Technology, Independent Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") have prepared or supervised the preparation of, or have reviewed and approved, the scientific and technical data pertaining to the financial modelling and metallurgical information contained in this release. John Marek, PE, of Independent Mining Consultants, Independent Qualified Person as defined by NI 43-101, has prepared or supervised the preparation of, or has reviewed and approved, the scientific and technical data pertaining to mining and mine scheduling contained in this release. William van Breugel, PEng., of SGS Geological Services, Independent Qualified Person as defined by NI 43-101, has prepared or supervised the preparation of, or has reviewed and approved, the data pertaining to the lithium carbonate base case selling price. All of the Qualified Persons above are independent of the Company as defined in, and required by, NI 43-101 and NI 43-101CP. About M3 Engineering & Technology Corp. M3 Engineering & Technology Corporation ("M3"), a full-service Engineering, Procurement, Construction & Management firm, is recognized for its experience and capabilities in the development and construction of mining and mineral processing projects. In addition to base metals, precious metals, and semi-precious metals, M3 has increasingly applied its expertise to the industrial and critical minerals market. This has included conventional and novel processes of lithium extraction. About Independent Mining Consultants Independent Mining Consultants, Inc. (IMC) has provided mine engineering services to the mineral industry for over 40 years. Mine planning, equipment selection, and mine cost estimation are part of the services provided by IMC. About Surge Battery Metals Inc. Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA, a crucial element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable future of the electric vehicle industry. On behalf of the Board of Directors "Greg Reimer" Greg Reimer,President & CEO Contact Information Email : info@ : 778-945-2656Website: Keep up-to-date with Surge Battery Metals: TwitterFacebook LinkedIn Instagram YouTube 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. This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, the accuracy of cash flow forecasts, projected capital and operating costs, metal processing recoveries, mine life, production rates, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water-related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations. To view the source version of this press release, please visit
Cision Canada
a day ago
- Business
- Cision Canada
U.S. GoldMining Inc. Selects Ausenco to Deliver Initial Economic Assessment At Whistler Gold-Copper Project, Alaska
, June 9, 2025 /CNW/ - U.S. GoldMining Inc. (NASDAQ: USGO) (" U.S. GoldMining" or the " Company") is pleased to announce it has selected Ausenco Engineering Canada ULC (" Ausenco") as the principal consulting firm to lead its proposed initial assessment study (" PEA") for the Whistler Gold-Copper Project (" Whistler" or the " Project"), located 105 miles northwest of Anchorage, Alaska. The study, as previously announced April 15, 2025, is intended to constitute an initial assessment under U.S. Regulation S-K 1300 (" S-K 1300") and a preliminary economic assessment under Canadian National Instrument 43-101 (" NI 43-101"). Highlights: The PEA is intended to explore and outline a development opportunity at the Whistler Project for a stand-alone open pit mine and concentrator facility located approximately 100 miles northwest of Anchorage in south-central Alaska, a region which has significant existing and ongoing infrastructure development. The PEA will consider the Whistler mineral resource estimate which currently stands at 6.48 million ounces (Moz) gold equivalent (AuEq) compiled from the indicated resource category and 4.16 Moz AuEq in the inferred resource category (see Table 1 for details). The Project is anticipated to benefit from the deposit's near-surface, higher-grade core material in the early years of production. The PEA will utilize an updated mineral resource estimate to be completed by Moose Mountain Technical Services, which will include 2024 drilling that was not available for the previous mineral resource estimate. In addition, metallurgical test work is currently being conducted by Base Metallurgical Laboratories Ltd., as previously announced on April 24, 2025. The Company completed a comprehensive bidding process, receiving initial expressions of interest from 13 consulting firms, followed by a rigorous Request for Proposal (" RFP") review of six shortlisted candidate firms. Ausenco was selected from this process on the strength of its experience across all disciplines and its track record in recent delivery of comparable studies. Tim Smith, Chief Executive Officer of U.S. GoldMining, commented:"We're delighted to be able to announce that we have partnered with Ausenco on this important work program. We're excited to begin working towards delivering the first PEA on Whistler, which we believe could present a robust future mining opportunity and has the potential to unlock significant value for shareholders. We look forward to providing periodic updates as the study progresses, for which we are currently targeting completion before year-end." David Thomas, Vice President, Minerals & Metals, Southwest USA of Ausenco, commented:"Ausenco is pleased to partner with U.S. GoldMining on the Whistler Gold-Copper Project PEA. We've successfully completed studies for clients around the world, including initial concept studies, pre-feasibility studies and definitive studies. As a lifelong Alaskan who lived many years in the Matanuska-Susitna (Mat-Su) Borough – where the Whistler Project is located - I'm delighted to add to the direct Alaskan experience of the team and help deliver U.S. GoldMining a robust, sustainable mining study." About U.S. GoldMining Inc. U.S. GoldMining Inc. is an exploration and development company focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, U.S.A. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska Mining claims totaling approximately 53,700 acres (217.5 square kilometers). Visit for more information. About Ausenco Ausenco is a global company redefining what's possible. The team is based out of 21 offices working across five continents to deliver services worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors ( Table 1 Mineral Resource Estimate for the Total Project (Effective date: September 12, 2024) Notes to Table 1: 1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. 2. Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. 3. The mineral resource estimate for the Whistler, Island Mountain, and the upper portions of the Raintree West deposits have been confined by an open pit with "reasonable prospects of economic extraction" using the following assumptions: Metal prices of US$1,850/oz gold (Au), US$4.00/lb copper (Cu) and US$23/oz silver (Ag); Payable metal of 95% payable for Au and Ag, and 96.5% payable for Cu; Refining costs for g of US$8.00/oz, for Ag of US$0.60/oz and for Cu of US$0.05/lb; Offsite costs for Au of US$77.50/wmt, for Ag of US$3.50/wmt and for Cu of US$55.00/wmt; Royalty of 3% net smelter return royalty (NSR); Pit slopes are 50 degrees; Mining cost of US$2.25/t for waste and mineralized material; and Processing, general and administrative costs of US$7.90/t. 4. The lower portion of the Raintree West deposit has been constrained by a mineable shape with "reasonable prospects of eventual economic extraction" using a US$25.00/t cut-off. 5. Metallurgical recoveries are: 70% for Au, 83% for Cu, and 65% Ag for Ag grades below 10g/t. The Ag recovery is 0% for values above 10g/t for all deposits. 6. The NSR equations are: below 10g/t Ag: NSR (US$/t)=(100%-3%)*((Au*70%*US$54.646/t) + (Cu*83%*US$3.702*2204.62 + Ag*65%*US$0.664)), and above 10g/t Ag: NSR (US$/t)=(100%-3%)*((Au*70%*US$56.646g/t) + (Cu*83%*US$3.702*2204.62)). 7. The Au Equivalent equations are: below 10g/t Ag: AuEq=Au + Cu*1.771 +0.0113Ag, and above 10g/t Ag: AuEq=Au + Cu*1.771. 8. The specific gravity for each deposit and domain ranges from 2.76 to 2.91 for Island Mountain, 2.60 to 2.72 for Whistler with an average value of 2.80 for Raintree West. 9. Numbers may not add due to rounding. For further information regarding the Project and the mineral resource estimates referenced herein, refer to the technical report summary titled "S-K 1300 Technical Report Summary Initial Assessment for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, and the technical report titled "NI 43-101 2024 Updated Mineral Resource Estimate for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, available under the Company's respective profiles at and Tim Smith, Chief Executive Officer of the Company, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Smith is a "qualified person" as defined under NI 43-101. Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" within the meaning of the United States federal securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such statements include statements with regard to the Company's expectations regarding the Project and the proposed PEA. Words such as "expects", "anticipates", "plans", estimates" and "intends" or similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on U.S. GoldMining's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and 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 such forward-looking statements. Such risks and other factors include, among others, the actual results of future exploration may not confirm expectations, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals or permits, title disputes other risks inherent in the exploration and development of mineral properties and the other risk factors set forth in the Company's filings with the U.S. Securities and Exchange Commission at. and Canadian Securities Administrators at Although the Company 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 not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. Forward-looking statements contained in this news release are made as of this date, and U.S. GoldMining does not undertake any duty to update such information except as required under applicable law.
Cision Canada
5 days ago
- Business
- Cision Canada
Commerce Resources Strengthens Québec Presence with CEO's First Visit to Kuujjuaq and New Corporate Headquarters in Québec
CEO prioritised a visit to Kuujjuaq to meet with key local stakeholders, underscoring the Company's commitment to working closely with host communities and advancing the Ashram Rare Earth Element (REE) Project in a responsible and collaborative manner. MONTREAL AND QUÉBEC CITY, June 5, 2025 /CNW/ -- Commerce Resources Corp. (TSXV: CCE, FSE: D7H0, OTCQX: CMRZF) (the " Company" or " Commerce") is pleased to announce that, following the recent appointment of experienced international mining executive Mr. Nick Holthouse as its new Chief Executive Officer (Appointment of Nicholas Holthouse as President & CEO), the Company is reinforcing its commitment to Québec and the development of its Ashram Rare Earth Element (REE) Deposit. Mr. Holthouse, together with key executives including Director Jeremy Robinson and General Manager Sustainability Cindy Valence, will lead a series of stakeholder engagements this week including a visit to Kuujjuaq, Nunavik to meet Indigenous leadership and local partners near the Ashram Project. This visit reflects the Company's strong intent to collaborate transparently and constructively with host communities in the development of the Ashram Project. The Company has recently completed a strategic restructuring of the Commerce team to better align resources with critical project advancement milestones. As part of this realignment, the delivery of the Preliminary Economic Assessment (PEA) has been rescheduled to the second half of 2025. The new management team is diligently progressing through key deliverables to support the successful advancement of the Ashram Project. Commerce Resources is committed to developing Ashram with an innovative and responsible approach that minimizes environmental and social impacts. The Company is actively working to incorporate traditional knowledge, culture and local priorities into the project's design, while fostering opportunities for employment and economic participation. These engagements are an essential part of advancing the upcoming Preliminary Economic Assessment (PEA), helping to ensure that the study accurately reflects regional realities and community perspectives. New Headquarters in Montréal To support the ongoing growth and strengthen its strategic presence in Québec, Commerce Resources is pleased to announce the relocation of its head office to Montréal at 3 Place Ville Marie Suite 400, Montréal, Qc. This move enhances the Company's capacity for project development and stakeholder engagement across the province. This move will enhance the Company's capacity to develop the project and facilitate improved engagement with stakeholders across the province. Commerce Resources will be actively participating in key industry events in the coming days, including: These platforms will provide an opportunity to further present the Ashram Project and meet with investors and potential partners across North America. The latest presentation is available on the Company website (Investor Presentation: June 2025) Commerce CEO & President, Nicholas Holthouse, commented: "Our strengthened presence in Québec reflects Commerce Resources' commitment to advancing the Ashram Project in a responsible and collaborative manner, aligned with the Province's strategic vision for critical minerals. "The Ashram deposit is one of the largest and most significant rare earth projects in North America and we are positioning it to be a cornerstone of North America's secure and sustainable rare earths supply chain." For more information, please visit the corporate website at or email [email protected]. COMMERCE RESOURCES CORP. Nicholas Holthouse President and CEO Phone: + 61 428 964 276 Email: [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD LOOKING STATEMENTS This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include statements regarding the expected listing on the Australian Securities Exchange and the expected appointment of a permanent president and CEO thereafter; the continued advancement of the Ashram project to development; that Ashram's fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets; that the Company is positioning to be one of the lowest cost rare earth element producers globally, with a focus on being a long-term global supplier of mixed rare earth carbonate and/or NdPr oxide; and that the Company may explore the potential of other high-value commodities on the Ashram Property. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that the Company may not complete a listing on the Australian Securities Exchange; that the Company may not be able to fully finance any additional exploration on the Ashram Project; that even if the Company is able raise capital, costs for exploration activities may increase such that the Company may not have sufficient funds to pay for such exploration or processing activities; the timing and content of the proposed drill program and any future work programs may not be completed as proposed or at all; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the anticipated market demand for rare earth elements and other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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Minaurum Announces Exercise of Option to Acquire Lone Mountain CRD Project in Nevada's Battle Mountain-Eureka Trend
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) ("Minaurum" or "the Company") is pleased to announce that, further to its news release dated October 2, 2024, it has provided the required notice to Nevada Zinc Corp. ("Nevada Zinc") to exercise its option (the "Option") to acquire a 100% registered and beneficial interest in the Lone Mountain carbonate replacement deposit ("CRD") project (the "Acquisition") located on the Battle Mountain-Eureka Trend in Nevada, USA ("Lone Mountain" or the "Project"). The Company is acquiring the Project pursuant to an option agreement between the Company and Nevada Zinc dated July 24, 2024, as amended on October 22, 2024 and December 24, 2024. Nevada Zinc completed a Preliminary Economic Assessment of the viability of potentially mining the zinc mineralization at the Project in June 2019 (NI 43-101 Preliminary Economic Assessment and Technical Report, Peimen Ling & Associates Limited, June 27, 2019 or see Nevada Zinc news release dated June 27, 2019 (the "PEA"). In accordance with the disclosure in the PEA, the Project is a brownfields project with a historic inferred mineral resource estimate of 3,257,000 tonnes grading 7.57% zinc and 0.70% lead. Select drilling highlights include 118.87 m of 9.58% Zn and 0.74% Pb (hole LM-15- 27); and 24.7 m grading 23.06% Zn (hole NLM-17-08). The PEA also demonstrated a 35% after tax internal rate of return ("IRR"). See below for further details on the Mineral Resource Estimate Report and the PEA. "Lone Mountain looks a lot like neighbouring historical silver-lead-zinc CRDs, such as Eureka next door or Cortez up the road, both of which have been found to have a significant Carlin Gold overprint," said Dr. Peter Megaw, Co-founder and Exploration Advisor to Minaurum. "Historical drilling was tightly focused on near-surface high-grade zinc oxides and did not seek that kind of gold mineralization or the polymetallic CRD sulphide potential that should lie beneath." "We are pleased to acquire Lone Mountain, an advanced project with robust economics that we believe could host significant silver and gold mineralization at depth," stated Darrell Rader, President & CEO of Minaurum. "As we advance our flagship Alamos silver project toward a maiden resource in 2025, we're strategically positioning Lone Mountain as the next catalyst for value creation in Minaurum's portfolio." Acquisition Terms In consideration of the Acquisition, the Company will: issue Nevada Zinc a number of common shares of the Company (the "Payment Shares") having an aggregate value of $1,000,000 based on the 10-day volume weighted average trading price of the common shares on the TSX Venture Exchange ("TSXV") for the 10 trading days immediately preceding the date of issuance; and pay Nevada Zinc a cash fee in the amount of $100,000. The completion of the Acquisition, including the issuance of the Payment Shares to Nevada Zinc, is subject to customary closing conditions, including, without limitation, approval of the TSXV. The Payment Shares will be subject to: (a) a four-month and one day statutory hold period, in accordance with applicable securities laws; and (b) a contractual restriction on transfer pursuant to which Nevada Zinc may not sell more than 500,000 Payment Shares per week after the expiry of the statutory hold period. Further information regarding Lone Mountain is disclosed in the Company's news release dated October 2, 2024 with key highlights described below. Lone Mountain CRD Project – Battle Mountain Eureka Trend, Nevada, USALone Mountain is a high-grade CRD project comprised of a single patented mining claim and 203 unpatented mining claims that cover 1,850 hectares. The Project lies 28 kms northwest of the historic Eureka Mining District, which anchors one end of the Battle Mountain-Eureka trend in Nevada, USA (Figure 1). The region supports an active mining workforce with significant resources for mineral exploration, mine development, and mine operations. Major mines in the region include Barrick Gold's Goldstrike and Carlin mines, Nevada Gold Mines, Pine Valley mine, Cortez Hills mine, McEwen Mining's Gold Bar mine and i80's Ruby Hill project, amongst others. Figure 1. Location of Lone Mountain CRD Project. Note position adjacent to Eureka Mining District on the Battle Mountain - Eureka trend. Click image to view an enhanced version of this graphic, please visit: Follow us and stay updated:YouTube: @minaurumgoldLinkedIn: to our email list at Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is an Americas-focused explorer concentrating on the high-grade 100% owned, production-permitted Alamos silver project in southern Sonora Mexico and the Lone Mountain CRD Project in Nevada. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value by acquiring and developing a pipeline of Tier-One precious-and base metal projects. ON BEHALF OF THE BOARD "Darrell A. Rader" Darrell A. RaderPresident and CEO For more information, please contact:Sunny Pannu – Investor Relations and Corporate Development Manager(778) 330 0994 or via email at pannu@ The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. ___________________________________________________________________________ 1570– 200 Burrard StreetTelephone 1 778 330-0994Vancouver, BC V6C info@ Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or 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" or the negative connotation thereof. Forward-looking information in this news release relating to the Company include, among other things, statements relating to the completion of the Acquisition, the receipt of TSXV approval for the completion of the Acquisition, and the issuance of the Payment Shares and the payment of the cash fee to Nevada Zinc in consideration of the Acquisition. In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. including, without limitation, assumptions that the Company will proceed with completion of the Acquisition, that the Company will be able to issue the Payment Shares and make the cash payment as necessary to complete the Acquisition as anticipated and that the Company will receive TSXV approval for the completion of the Acquisition. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information, including but not limited to risks associated with the following: the Company may not complete the Acquisition, on the terms and conditions disclosed, or at all; the Company may not be able to make the share or cash payments necessary to complete the Acquisition; the Company may not receive TSXV approval for the Acquisition; changes in governmental regulations; compliance with applicable laws and regulations; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in foreign currency exchange rates; unanticipated costs; and going concern risk. Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
