Latest news with #RelevantGold
Daily Mail
11-05-2025
- Business
- Daily Mail
New gold rush is on the horizon as experts say deserted mine is still FILLED with extremely valuable minerals
A new gold rush could be on the horizon after geologists re-examined an abandoned site in Wyoming. The Carissa Gold Mine at South Pass City attracted thousands of laborers in 1867 - but it was abandoned after just a few years with little success. Fast-forward 150 years, and experts believe the mother lode still lurks several hundred feet beneath the surface. Canadian firm Relevant Gold has said they have found several promising metal belts in the area, and modern technology can unleash the full potential this time around. The company, founded by geologists Rob Bergmann and Brian Lentz, said they believe a gold rush could be coming to Wyoming this summer. 'When you look at historic mining projects, the reason they shut down is always economic,' Bergmann, Relevant Gold co-founder and CEO, told Cowboy State Daily. 'That doesn't mean the resource has necessarily run out, though. And that's exactly what we see in South Pass.' Bergmann said he thinks the hidden treasures at Carissa could be comparable to the Abitibi gold belt - a 630 kilometer-wide region of Canada which extends from Wawa, Ontario to Val d'Or, Quebec. The Abitibi district is home to more than 100 mines, which have produced 170 million ounces of gold since 1901. Relevant Gold honed in on Carissa after collecting data from drilling samples and magnetic surveys conducted with Wyoming Geological Survey and U.S. Geological Survey. The Canadian company is also exploring other pockets of Wyoming for potential treasure, with five large-scale projects launched in the state so far. 'We will put (each area) through our systematic exploration process,' Bergmann told Cowboy State Daily. 'We start by looking at all the data to analyze an area, and then we'll put a plan together for boots on the ground.' This summer, Relevant Gold plans to drill in previously unexplored depths, including a region of the Seminoe Mountains near Rawlins. 'There was historic mining there, similar to South Pass City, and it's never been drilled before,' Bergmann said. 'We are the first to go test the rocks below the surface, to see if there are opportunities there to unlock value.' And it's not just gold - more than 2.34 billion tons of rare earth minerals have been discovered in Wyoming in recent years. This means the US could soon surpass China as the world leader in rare earth minerals. American Rare Earths Inc announced last year that reserves near Wheatland dramatically surpass the Asian nation's 44 million metric tons, saying it 'exceeded our wildest dreams' after drilling only about 25 percent of the property. The company has a stake in 367 mining claims across 6,320 acres of land in the Halleck Creek Project, along with four Wyoming mineral leases on 1,844 acres on the same project now called Cowboy State Mine. The types of minerals at the site are used in smartphones, hybrid car motors and military technologies - among others.
Associated Press
11-02-2025
- Business
- Associated Press
Relevant Gold Announces Non-Brokered $5M Private Placement Led By Strategic Investors Kinross and Bollinger
Not for dissemination in or into the United States or through U.S. newswires All dollars are Canadian unless otherwise noted VANCOUVER, BC / ACCESS Newswire / February 11, 2025 / Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the 'Company' or 'Relevant Gold') is pleased to announce a non-brokered private placement to raise gross proceeds of up to $5,000,000 through the sale of up to 16,666,667 shares at the price of $0.30 per share led by two strategic investors. Kinross Gold Corporation ('Kinross') (NYSE:KGC)(TSX:K) has committed to increase its equity position in the Company to 19.9% of the issued and outstanding common shares with this financing. Kinross currently holds approximately 9.9% of the Company's common shares on a partially diluted basis. Mr. William G. Bollinger has also committed to increase his equity position in the company to 19.9% in connection with this financing. Mr. Bollinger currently holds approximately 16.7% of the Company's common shares. The proceeds from the sale of the private placement will be used to fund exploration activities at the Company's projects in Wyoming, USA, and for general working capital. 'This financing marks a significant milestone for Relevant Gold as it will allow us to launch a major drill program in 2025 to capitalize on last year's very promising exploratory results,' said Relevant Gold CEO Rob Bergmann. 'The stepped-up investment by our strategic shareholders underscores their confidence in our incredible team, our assets, and the vast exploration potential of Wyoming.' Certain directors and officers of the Company may acquire securities under the private placement. Any such participation would be considered to be a 'related party transaction' as defined under Multilateral Instrument 61-101 ('MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization. The Company may pay a finder's fee in connection with the private placement and this financing is subject to the approval of the TSX Venture Exchange. All securities to be issued in the Private Placement will be subject to a four (4) month hold period from the closing date under applicable securities laws in Canada and amongst other things, receipt by Relevant Gold of all necessary regulatory approvals, including Exchange approval. The Company anticipates closing of the private placement in late February 2025, subject to receipt of all necessary regulatory approvals. This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (The 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Relevant Gold Corp. Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining-friendly jurisdictions in the United States and globally. On behalf of Relevant Gold Corp., Rob Bergmann, Chief Executive Officer More information Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. For further information about Relevant Gold Corp. or this news release, please visit our website at or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at [email protected]. Cautionary Note Regarding Forward-Looking Statements and Historical Information This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ('Relevant' or 'Relevant Gold' or 'the Company'). Any statements 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 'seek', 'anticipate', 'plan', 'continue', 'estimate', 'expect', 'forecast', 'may', 'will', 'project', 'predict', 'potential', 'targeting', 'intend', 'could', 'might', 'should', 'believe', 'outlook' and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a 'Qualified Person' as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.
