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Golden Predator: Gold Extraction Innovation in the Yukon

One of the biggest issues miners face is processing the material they extract in an efficient and effective manner. For Golden Predator’s (V.GPY) 3 Aces project, bulk sampling has yielded a great deal of knowledge and with it three distinct concentrates. All are high grade, but each presents a different processing challenge.

The #1 concentrate is very straight forward. This is free milling gold and Golden Predator has built a very simple, gravity and water test processing plant in Watson Lake, Yukon to test bulk sample material which separates the gold. Essentially, this is akin to placer mining and, by recycling the water used, GPY, is able to minimize the environmental impact of this test facility while achieving 85+%  total recovery in an entirely chemical free process, 2/3 of this in the #1 concentrate. Gold – and a little silver – from this concentrate is poured into the doré bars Golden Predator delivers for further refining, then some is used by the Yukon Mint to make gold coins and bars.

This leaves the #2 and #3 concentrates. The #3 is essentially intermediate material, not waste or tailings, with a moderate grade of economic value and work is underway on how to continue to extract gold from the material. But a big focus of Golden Predator’s efforts in 2019 has been the #2 concentrate. This is non-refractory gold particles, just as with the number one con, but with particle sizes too small to be separated from the sulfide material by gravity alone. The challenge here is to separate the gold from the sulfide. Following standard practice, Golden Predator sent its first #2 concentrate to a US smelter.

The ever diplomatic Golden Predator CEO Janet Sheriff told me, “We questioned the results reported by the smelter and began work on alternatives to shipping to an out-of-country smelter.”

Many miners are resigned to smelter “inaccuracies” as a cost of doing business. Not Golden Predator. “What if we had our own alternative to a smelter?” asked Sheriff.

As it happened, Golden Predator Chairman Bill Sheriff had been looking at alternatives to commercial smelters for years. “I’ve invested in some and looked at lots,” said Sheriff. “I ran into Duane Nelson at a conference three or four years ago. He’s the CEO of EnviroLeach (C.ETI) who was working on some new technology for extraction. We decided to send some samples to EnviroLeach. I wasn’t sure it would work but worth a try. None of the others worked.”

EnviroLeach is an interesting story in itself. Its CEO was the CEO and co-founder of SilverMex and the founder of Quotemedia – the data services company which provides stock quotes for TSX and TSX-V companies as well as companies on other exchanges. Nelson is thoroughly familiar with mining and smelting. When Sheriff got in touch, EnviroLeach was primarily recovering gold from E-Waste – old computers, modems, phones and so on. The company claims that a tonne of E-Waste yields between 50 and 2400 grams of gold, far more than most run of mine material in the gold sector.

On the mining side, EnviroLeach claimed that it had a cyanide free way to dissolve gold into solution. Plus, it had a way of using electricity to get the gold out of that solution. The question was, would it work?

Initially, Golden Predator shipped samples of its #2 concentrate to EnviroLeach. “We were pretty scientific,” said Janet Sheriff. “Different crush sizes, different years, supervised testing supported by independent assays.”

The initial results were reported in a Golden Predator Mining Corp press release on November 12, 2019. The material shipped to EnviroLeach in Surrey was processed with the 55.9 kg of 2018 material yielding 96.5% of the contained gold and a “button” of 91.3 grams. The 30.4 kg of 2019 material yielded 96.7% and a button of gold weighing 77.8 grams. And in reasonable timelines of 6 and 29 hours respectively.

Excellent results but, realistically, shipping tonnes of material from the Yukon to Surrey BC would be very expensive. So, the second test used Golden Predator’s mobile batch recovery system at the test plant. “It looks like it should be a brewery,” said Bill Sheriff.

The mobile test was conducted at Golden Predator’s bulk sample processing facility in Watson Lake, Yukon and 121 kg of gold-bearing sulfide concentrates produced during 2019 were processed in 21 hours with a 96.2% gold recovery. 255 g of gold was recovered from the electrowinning cell and poured into a button.

The next step is a 5-tonne bulk test which will be conducted in phases and completed at Golden Predator’s bulk sampling plant or even offsite as the batch plant is mobile. The results of this test will be reported as they happen but the Sheriffs are more than a bit pleased with these early results.

“This is a good solution for free-milling gold,” said Bill Sheriff. “And it seems to work for a variety of polymetallic mines including copper/gold deposits which can produce gold-bearing concentrate.”

The end result is high purity, green gold from a mobile batch unit.

“At 3 Aces the EnviroLeach formula appears to work better and faster than cyanide,” said Janet Sheriff. “and it’s environmentally benign.”

There are a lot of gold and gold/copper deposits in Canada and Golden Predator is well aware of potential commercial applications of their mobile batch unit utilizing EnviroLeach’s recipe. Right now, the 5-tonne bulk test will be watched with interest by Golden Predator shareholders and colleagues in the mining community. A new, environmentally friendly, non-smelting, process would actually be a game changer for mining in Canada as well as the world.

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Golden Predator Commences Fast Track Feasibility Study at Brewery Creek Mine, Yukon

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) today announced that is has retained Kappes, Cassiday & Associates to complete a fast-track Feasibility Study (“FS”) for Phase 1 of the Company’s production plans to reopen it’s 100% owned Brewery Creek Gold Mine located 45 minutes from Dawson City, Yukon.

Phase One envisions the reprocessing of the original heap leach pad where historical production records available to the Company from the former operator indicate that from 1996 through 2002 approximately 10 Mt of ROM (run-of-mine) ore was placed on the heap leach pad at an average grade of 1.5 g/t gold containing approximately 525,094 ounces of gold.  Refinery records state that 277,170 ounces were produced from the heap leach pad (GPY NR dated August 7, 2019)(1). Phase 2 involves restarting the mining and processing of new material along the lines of the full-scale original project while Phase 3 involves the possible expansion of the project to process additional material not included in the original project, reflecting Golden Predator’s exploration successes since 2012.

Following the announcement (July 2019) of the confirmation of the Quartz Mining License and Water License at Brewery Creek, the Company has focused intensely on preparing the former gold producing mine for redevelopment work to commence in 2020. The Company has also undertaken an aggressive exploration program designed to expand and upgrade current resources.

Janet Lee-Sheriff, Golden Predator’s Chief Executive Officer, said that “The best way to begin implementing our three-phase program and create value for our shareholders in the short term is to complete the Feasibility Study by Q1/20 in order to commence the reprocessing of the heap leach pad in advance of mining new material. The Feasibility Study represents a major step towards commercial production and with the significant infrastructure left in place, a cost effective means to a restart of the larger operation. Licenses are in place for Phase 1 and Phase 2.  For Phase 3, we have already begun preparation of amendments to be filed early in the new year to incorporate additional resources into the current mine plan through the assessment and licensing process to extend the anticipated mine life.”

The FS will be a highly detailed analysis of all the key parameters involved in reconstructing necessary infrastructure including the ADR plant and assay lab plus all projected capital and operating costs, production levels and the projected economic return. The FS will focus solely on remediating and reprocessing the heap leach pad as a means of fast tracking revenue and development of the site for mining.

The Feasibility Study will include a project implementation schedule, sourcing, and economic cash flow model sufficiently detailed to move directly into procurement, development and operations.

To view Brewery Creek property and  location maps:  http://www.goldenpredator.com/_resources/news/NR-19-20-FS-Study-BC-Maps.pdf

About Kappes, Cassiday & Associates

Since 1972, Kappes, Cassiday & Associates (KCA) has provided process metallurgical services to the international mining industry. KCA specializes in all aspects of heap leach and cyanide processing, including laboratory testing, project feasibility studies, engineering design, construction, and operations management. While primarily known for its heap leach expertise, KCA also has experienced professionals with design capabilities in a wide range of metallurgical processes.

Brewery Creek Mine: Production History

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price below $300 US per troy ounce. Golden Predator’s team commenced work on the project starting in 2009.  Brewery Creek is now authorized to restart mining activities as defined in their Quartz Mining License and Water License. The Company intends to resume mining and processing of licensed deposits while the Company works with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining area to include new discoveries made since 2011.

The 180 km2 property is located 55 km east of Dawson City and is accessible year-round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.

Brewery Creek Mine: Resources

The Company conducted exploration drilling on the Brewery Creek project from 2010 to 2013 and increased the resource 5 fold and completed a Preliminary Economic Assessment (PEA) resource estimate including an Indicated oxide resource of 577,000 troy ounces of gold in 14.2 million tonnes averaging 1.27 g/t gold and an Inferred oxide resources of 279,000 troy ounces of gold in 9.3 million tonnes averaging 0.93 g/t gold (includes resource areas located within and outside of current production licenses). In addition, the resource estimate contains Indicated sulfide resources of 142,000 troy ounces of gold in 3.5 million tonnes at 1.28 g/t gold and Inferred sulfide resources totaling 546,000 troy ounces of gold in 12.4 million tonnes at 1.37 g/t gold (1). Most drilling was historically terminated a short depth below the oxide mineralization, leaving the sulfide potential largely untested.

Brewery Creek Mine: Licenses and Permits

The Company has a Socio Economic Accord with Tr’ondëk Hwëch’in for the Brewery Creek Mine and is licensed to resume mining activities under the current Water License and Quartz Mining Licenses. The project also has a Class IV Mining Land Use Permit to conduct additional exploration.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and low capex to production in a safe first world jurisdiction, Brewery Creek has a clear path to production as an economically and environmentally known project. Optimization studies are progressing to enhance the already positive multi-phase project economics described in the 2014 Preliminary Economic Assessment. Drilling continues to expand the open-ended resources and untested targets across the 180 km2 brownfield property located 55 km by road from Dawson City, Yukon.  The Company has a Socio Economic Accord with the Tr’ondëk Hwëch’in First Nation.

At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides the gold for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.

For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(604) 260-8435
info@goldenpredator.com
www.goldenpredator.com

(1)NI 43-101 Technical Report “Preliminary Economic Assessment for the Brewery Creek Property Yukon Territory, Canada” Release Date of November 19, 2014.
(2)Brewery Creek Technical Report, Richard Diment, PGeo May 18, 2003

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations that the private placement will complete as described herein, that the Project will advance through permitting and feasibility.  Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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Golden Predator Webinar

Thursday is a busy day for webinars:

Golden Predator Mining Corp. – Live Town Hall Webinar (&replay) Thurs, Nov. 14, 4:05 p.m. EST

You can register here

You’ll be able to ask about Golden Predator’s new, environmentally friendly, extraction process for sulfide entangled gold and about developments at the GPY Brewery Creek mine.

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White Gold Webinar

This should be interesting:

Live Town Hall Webinar (&replay) Thurs, Nov. 14, 2:15 p.m. EST

You can register here

Famed prospector and all round Yukon gold expert Shawn Ryan will be on the call.

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Moriarty On White Gold

I have a lot of time for Bob Moriarty as a gold mining analyst. He separates signal from noise better than any other analyst in the business.

Today he turns his attention to White Gold (V.WGO).

“White Gold serves as the exploration arm of both Kinross and Agnico Eagle. When the proven resource gets big enough and the price of gold high enough we know that one or both of those companies will belly up to the bar and buy WGO.

So you can safely ignore drill results such as 24.38 meters of 23.44 g/t gold at JP Ross, 3.59 g/t Au over 68.0m, 83.13 g/t Au over 2.2m, 30.86 g/t Au over 7m and 24.86 g/t Au over 7m. Knowing that the company reported grab samples of 605 g/t Au, 497 g/t Au and a further 113 g/t Au doesn’t necessarily tell you what you need to know but I can guarantee Kinross and Agnico Eagle realize what those results mean.

I was buying Great Bear Resources at $.50 a share before they started releasing extraordinary results. I knew and I told them they were on to something big. Great Bear is now $5.87 a share and they have a $248 million market cap. White Gold closed at $.77 on Friday and shows a $95 million-market cap. In my view White Gold is the better company but it has a market cap only 40% of what GBR has.

The price is cheap today because (1) investors can’t cope with half a dozen projects being advanced at the same time and (2) a flood of shares being sold to pay for the $.27 warrants. As to (1), ignore it; you don’t have to keep track of a bunch of projects. Let Kinross and Agnico Eagle do your due diligence for you and (2) as the overhang of shares stops since the warrants have expired, expect a pop in the share price.”

Go read the whole thing.

What Bob does not discuss – largely because he wants to keep his message very simple – is that White Gold marries the capital markets skills of David D’Onofrio and his people at PowerOne Capital with the raw exploration talent of the legendary Shawn Ryan and his team at Ground Truth Exploration. A lot of junior exploration companies will have great exploration talent but limited capital markets experience. White Gold was built to be a project driven company and it was built to be able to handle many projects at once. Moriarty is right about the sheer number of projects being a bit incomprehensible to the average investor, but management and the two strategic investors ensure that White Gold can continue to advance on all fronts in the Yukon.

 

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Golden Predator Announces Successful Environmentally Friendly Gold Recovery Leach Tests

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company “or “Golden Predator”) is pleased to announce tests have successfully confirmed that EnviroLeach Technologies Inc.’s (“EnviroLeach”) (CSE: ETI) (OTCQB: EVLLF) (7N2: FSE) formula effectively extracts and recovers more than 95% of the gold from sulfide concentrates produced at the Company’s 3 Aces Project. The concentrate is produced using Golden Predator’s Secondary Recovery Unit (SRU™). With this environmentally friendly technology confirmed in successive tests both in the EnviroLeach facility and at the Golden Predator bulk sample processing plant (the “Plant”), the companies have initiated a larger material test run to process up to 5 tonnes of gold-bearing sulfide concentrates to be completed onsite at Golden Predator’s Plant in Canada’s Yukon.

Janet Lee-Sheriff, Chief Executive Officer of Golden Predator said “The Plant and SRU are examples of the continuing ways that Golden Predator works to be innovative, testing new methods that have the ability to change how we operate at projects like 3 Aces. Working with EnviroLeach provides us a unique opportunity to lead the way for safe and responsible new cyanide-free extraction methods in processing gold bearing concentrates which has immediate value on our 3 Aces Project as well opening up other commercial opportunities.”

Summary of pilot test results:
A sample of gold-bearing sulfide concentrate recovered in 2018 was shipped from the Plant to the EnviroLeach facility in Surrey, BC in August of 2019:

  • 55.9 kg of the material was processed using EnviroLeach solution and 96.5% of contained gold was leached in 6 hours; and
  • Gold in solution was extracted by electrowinning and poured into a 91.3 g button (bar).

A sample of gold-bearing sulfide concentrate recovered in 2019 was also sent to and processed by EnviroLeach at the Surrey facility:

  • 30.4 kg of the material was processed using EnviroLeach solution with 96.7% gold recovery in 29 hours; and
  • Gold in solution was extracted by electrowinning in 4 hours and poured into a 77.8 g button.

Following completion of test work in the EnviroLeach facility in Surrey, on-site testing was initiated to leach material at the Plant during the week of September 23rd, 2019. Results of this testing are reported below:

  • 121 kg of gold-bearing sulfide concentrates produced during 2019 were processed in 21 hours with a 96.2% gold recovery; and
  • Electrowinning was completed in 14 hours and 255 g of gold was recovered from the electrowinning cell and poured into a button.

The Golden Predator-EnviroLeach working relationship has enabled the companies to successfully demonstrate the first ”in the field”, recovery of gold from gold-bearing sulfide concentrates, using EnviroLeach’s environmentally friendly formula and Golden Predator’s SRU™ processing equipment. An initial 5 tonne bulk test will be conducted in phases and completed at Golden Predator’s bulk sampling plant in the Yukon with results made available as they are received and evaluated.

Golden Predator operates the Plant to better understand the metallurgy of the varying types of  mineralized rock at 3 Aces and to establish better and environmentally friendly ways to process the mineralized rock.  As part of its processing plant, Golden Predator developed a mobile batch recovery unit (“Secondary Recovery Unit” or “SRU™”) for the recovery of gold from its sulfide concentrate. Golden Predator is utilizing EnviroLeach’s proprietary environmentally friendly technology in the SRU™.  The Plant has now demonstrated the ability to recover both coarse-grained gold from a closed system gravity circuit and to extract gold from a sulfide concentrate in an environmentally conscious manner.

About the EnviroLeach Process

The EnviroLeach process delivers numerous economic and environmental benefits over current extractive technologies. The solution can effectively dissolve gold into aqueous solution with similar leach kinetics and economics to that of cyanide but is sustainable, safe and environmentally friendly. This water-based process has a broad applicability spectrum and is effective on most gold ores and concentrates. It can potentially unlock the value of many deposits located in environmentally sensitive areas that cannot be developed using current extraction methods.

About the Golden Predator Process 

Golden Predator’s test processing plant, the first of its kind in Yukon, Canada, commenced operations in 2016 providing increased metallurgical and geological understanding of its 3 Aces Project. The Plant is a relatively simple gravity circuit utilizing a closed-circuit water system with no added chemicals due to the free-milling nature of 3 Aces’ gold.  The 50 tonnes per day closed circuit plant recovers gold from #1 concentrates with doré bars sent to a commercial refinery for final processing. Golden Predator is currently testing EnviroLeach’s patent pending technology in its SRUTM for the extraction of gold from its #2 concentrates.  Total gold recovery from the gravity circuit is over 85% of contained gold.

The 3 Aces Project is an orogenic gold project in southeast Yukon which provides the testing material for the Plant. To date, Golden Predator has focused exploration on a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered.  Golden Predator made an early decision to conduct a bulk sample at the 3 Aces Project when it realized much of the gold contained in its veins is high grade (commonly over 30 g/t gold) and nuggety. The best way to determine the true gold value of a nuggety gold system is to conduct large scale bulk sampling, which also allows Golden Predator the opportunity to conduct bulk metallurgical and processing tests on site.

QA/QC Statement

The initial laboratory, pilot scale and production scale testing were successfully conducted at EnviroLeach’s facility in Surrey, British Columbia prior to the on-site testing at Golden Predator’s Plant. All tests were conducted under the supervision of EnviroLeach and Golden Predator personnel.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

About Golden Predator Mining Corp.

Golden Predator is advancing the fully licensed Brewery Creek project towards production while exploration drilling continues to expand resources. The Company also undertakes bulk sampling and test recovery processes at its Yukon-based test processing plant demonstrating gold recoveries of over 85%, without the use of cyanide, from its 3 Aces Project. This green gold provides for the mintage of .9999 gold coins from the Yukon Mint, a wholly owned subsidiary of Golden Predator.

Contact Information:
Janet Lee-Sheriff
Chief Executive Officer
Golden Predator Mining Corp.
(604) 260-5029
info@goldenpredator.com
www.goldenpredator.com

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements express or implied regarding completion of the transactions described herein, the upcoming season at 3 Aces project, and  projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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Blackrock Core

Core pictures are always interesting. They don’t mean a thing without assays but a geologist looking at this picture is going to be more than a little interested.

Blackrock Gold, V.BRC

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Yukon Mint™ Releases Limited Edition 2019 Gold Coins; Pre-Orders Available for Christmas

The Yukon Mint Corporation (Yukon Mint™, a subsidiary of Golden Predator Mining Corp.) (TSXV:GPY; OTCQX:NTGSF) is pleased to unveil the winning designs of the 2019 Yukon Gold Coin and Kaska Gold Coin. The 2019 Yukon Gold Coin beautifully features the work of artist Gord Peter’s original carving: Aha Da Ta (Eagle Man). Artist Dennis Shorty’s original work is proudly displayed on the 2019 Kaska Gold Coin: Kaska Kayeh (Kaska Land). The Yukon Mint™ produces its 2019 Limited Edition series in 1 ounce, ¼ ounce and 1/10 ounce denominations.

2019 YUKON GOLD COIN

President Janet Lee-Sheriff comments, “With the increasing price of gold we wanted to ensure we create a range of products for collectors and community alike. It is with great excitement we unveil and feature two beautiful designs from such amazing artists from Yukon, Canada.”

The Yukon Mint™ sought proposals from artists across the Yukon, Canada for the 2019 Yukon Gold Coin, and from Kaska Nation artists for the Kaska Gold Coin. For more information on Yukon Mint™ products and the 2019 series please visit www.yukonmint.com.

The story of Yukon gold coins starts with the Yukon Mint™.

The Yukon Mint™ is focused on creating gold coins that will be Yukon in almost every aspect, from raw material to design. The Yukon Mint™ works in partnership with artists and communities to ensure local benefit from Yukon mining and exploration projects. The Yukon Mint™ is a wholly owned subsidiary of Golden Predator Mining Corp. (TSXV:GPY)

For additional information:
Janet Lee-Sheriff, President
(778) 847-3351
info@yukonmint.com
www.yukonmint.com

Yukon Mint 2019 Coin Series: Yukon Gold Coin

YUKON GOLD COIN OBVERSE:  AHA TA DA (Eagle Man)
Aha ta Da is an original bison skull carving created from materials found near Gord’s cabin near the Ketza River. The carving represents the wolf and crow clans of the Kaska Dena giving thanks to the land and Creator. The Kaska people are forever intertwined and connected to land that has sustained them for many generations. The original carving is held in a private collection.

YUKON GOLD COIN REVERSE:  Klondike Gold Rush Stampeders
All Yukon Mint coins feature the iconic image linked to the Yukon that speaks to the history and entrepreneurial spirit of exploration. The Klondike Gold Rush (1897-1899) was an epic journey, to an uncharted land in search of adventure and opportunity in the continent’s final frontier. It seared the word “Klondike” into the collective consciousness of a generation. That is the way it was then, and people still seek to follow the steps of the Klondike stampeders to this very day.

ARTIST BIOGRAPHY:  Gordon Peter
GORD PETER is of Kaska heritage and has been carving since the early 1980’s – learning the art from Elder Mac Peter, Charlie Dick and other Kaska carvers that are still continuing the tradition. Gord’s work includes a seven foot marble memorial of Dena Cho, a moose antler mask for the 2008 Canada Winter games and many pieces in private collections. His preferred materials for carving include moose antlers, marble, birch and ivory. Gord lives in Ross River, Yukon with his wife Rose.

Yukon Mint 2019 Coin Series: Kaska Gold Coin

KASKA GOLD COIN OBVERSE:  KASKA KAYEH by Artist Dennis Shorty
When we drum, the drum represents our connection to Mother earth. We drum to honor our animals with the drum made from their hides. When we drum we honor the trees and the land with the frame made of wood. When we hold the drum our arm becomes the umbilical cord to Mother earth and we connect with her. Our heartbeat and Mother earth’s heartbeat become one. The winning design celebrates the connection between the Kaska people, the drum and the land.

KASKA GOLD COIN REVERSE:  Klondike Gold Rush Stampeders
All Yukon Mint coins feature the iconic image linked to the Yukon that speaks to the history and entrepreneurial spirit of exploration. The Klondike Gold Rush (1897-1899) was an epic journey, to an uncharted land in search of adventure and opportunity in the continent’s final frontier. It seared the word “Klondike” into the collective consciousness of a generation. That is the way it was then, and people still seek to follow the steps of the Klondike stampeders to this very day.

ARTIST BIOGRAPHY:  Dennis Shorty
DENNIS SHORTY is of Kaska heritage, born on the land and lived most of his life near Ross River, Yukon. By watching his grandfather and father, Dennis became interested  in art which is a spiritual path for him and a way to communicate with his ancestors. Dennis carves in natural materials including copper, moose, caribou and deer antler, musk ox, sheep horn and wood and achieves his refined and detailed imagery with the use of a variety of hand and power tools. Dennis has won numerous awards and travelled extensively showcasing his talents. Dennis is also a musician and began writing and composing songs in his language, Kaska, in 2009. He created the music duo, Dena Zagi, with his partner Jennifer Frohling, and they also produce jewelry together. Dennis’ work is in the Yukon Permanent Art Collection, the Governor General of Canada Collection and private collections across the world. His work and full biography can be found at: www.dennis-shorty.com

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2aa04ff3-d3fb-4b67-8415-75704bd53989
https://www.globenewswire.com/NewsRoom/AttachmentNg/274eaaa7-335c-4950-a7b2-9902e1c8087a
https://www.globenewswire.com/NewsRoom/AttachmentNg/30e5074b-fcba-445c-9e4e-ea2c32c521c2
https://www.globenewswire.com/NewsRoom/AttachmentNg/4af16369-d24a-420f-acff-171084fe5f9d

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Cartier Publishes its First Mineral Resource Estimate of the Central Gold Corridor on the Chimo Mine property

Highlights:

  • The Central Gold Corridor resource estimate for the Chimo Mine property (FIGURE 1) was produced using a gold price of US $ 1,292 per ounce and a cut-off grade of 2.5 g/t Au:
    • 3,263,300 tonnes at an average grade of 4.40 g/t Au for a total of 461,280 ounces of gold in the indicated resource category;
    • 3,681,600 tonnes at an average grade of 3.53 g/t Au for a total of 417,250 ounces of gold in the inferred resource category;
  • Work on expanding resources is underway via:
    • The estimate of the resources of the North Gold Corridor and South Gold Corridor;
    • The preparation of exploration drilling of the geometrical extensions below the new Zones 5B4-5M4-5NE, which will start on November 20th using 2 drill rigs (FIGURE 1).

VAL D’OR, Quebec, Nov. 05, 2019 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces the results of the mineral resource estimate of the Central Gold Corridor of the Chimo Mine property, located 45 km east of Val-d’Or. The estimate, completed and made available on November 4th, 2019, was prepared by Mr. Christian D’Amours, P. Geo., B. A. Sc. from GeoPointCom Inc., an independent Qualified Person as defined by NI 43-101.

“These resources, with existing underground infrastructure, are key elements of the Company’s short-term growth strategy,” commented Philippe Cloutier, President and Chief Executive Officer, adding that “this represents only a portion of the potential of the Chimo Mine property. The resource estimates for the North and South Gold Corridors are in progress and are in addition to, the potential that can be outlined via drilling soon to be launched below Zones 5B4-5M4-5NE, which reported excellent results last June.”

The table of the sensitivity of the cut-off grade on the gold resources (FIGURE 1) is presented below:

MINE CHIMO PROJECT – CENTRAL GOLD CORRIDOR
 Indicated ResourcesInferred Resources
Cut-Off grade (g/t Au)Metric ton (t)Grade (g/t Au)Troy Ounce (oz)Metric ton (t)Grade (g/t Au)Troy Ounce (oz)
1.56,157,3003.24642,0608,520,4002.62716,570
2.04,479,3003.81548,3805,591,3003.09555,530
2.53,263,3004.40461,2803,681,6003.53417,250
3.02,389,1005.01384,5402,347,8003.97299,800
3.51,759,4005.63318,6801,199,0004.66179,470
4.01,255,9006.40258,410728,3005.25122,950

The table above illustrates the sensitivity of this mineral resource estimate to different cut-off grades for an underground operation scenario with reasonable outlook for economic extraction. The reader is cautioned that the figures provided in this table should not be interpreted as a statement on mineral resources. Quantities and estimated grades for different cut-off grades are presented for the sole purpose of demonstrating the sensitivity of the resource model to the choice of a specific cut-off grade.

Mineralization of the Chimo Mine property consists of 25 gold zones within 16 gold structures, that are grouped into three gold bearing corridors (FIGURE 1). The results of this release present only the resource estimate of the Central Gold Corridor, consisting of Zones 5B, 5B2, 5B4, 5C, 5M, 5M2, 5M3, 5M4, 5N, 5NE and 6N1. Zones 5B, 5B2, 5C, 5M, 5M2 and 5N are located, in part, within the infrastructure of the former Chimo mine, while Zone 6N1 is located 125 m to the south and Zones 5B4 – 5M4 – 5NE are located 450 m to the east.

Zones 5B4-5M4-5NE, recently developed and particularly through the excellent results  of June 2019, have led to the development of new resources in the eastern part of the property. This new area, with strong discovery potential under Zones 5B4 – 5M4 – 5NE (FIGURE 1), will be drilled again starting November 20th, 2019.

The resource estimate for the Northern Gold Corridor consisting of Zones 1A, 1B, 2B, 2, 2W, 3, 3E, 3W, 4B and 4B2 and the Southern Gold Corridor, consisting of Zones 6, 6B, 6P and 6P2, is in progress.

Additional notes on resource estimates

  1. These mineral resources are not mineral reserves because their economic viability has not been demonstrated. The amount and content of inferred resources reported in this mineral resource estimate is uncertain and there can be no assurance that some or all of the Inferred Mineral Resources may be converted to indicated mineral resources with further exploration drilling.
  2. The mineral resource estimate is in accordance with the current standards and guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and NI 43-101 for the publication of mineral resources.
  3. Resources are presented in situ for an undiluted underground operation scenario and considered to have reasonable outlook for economic extraction.
  4. A cut-off grade of 2.5 g/t Au was used to estimate mineral resources from calculations made with the following key parameters:
    • gold price of US $ 1,292 / oz
    • exchange rate of US $ 1.3 / CAN per troy ounce
    • cost of mining and hoisting $ 90 / t
    • transportation cost of $ 20 / t
    • milling cost of $ 25 / t
    • recovery percentage of 90%
    • Given the physical properties of the minerals (quartz and arsenopyrite) associated with gold, it is reasonable to expect a 35% reduction in transportation and milling costs if a material sorting plan is in operation at surface on the Chimo Mine site. This cost reduction produces a calculation of 2.5 g/t Au for the cut-off grade. It is important to note that these costs are dynamic and may vary over time. Therefore, they must be re-evaluated regularly according to market conditions. The author estimates that the threshold of 2.5 g/t Au for the cut-off grade represents the fair value of the potential of this project and that this value constitutes the reference value for this study. The selection of reasonable prospective parameters, which assume that some or all of the estimated resources could potentially be extracted, is based on a bulk underground mining scenario involving a daily extraction rate of approximately 2,000 to 3,000 tonnes.
  5. The density value of 2.8 g/cm3 was used.
  6. The estimate was made from a database as July 2nd 2019 of 3,429 drill holes totaling 279,670 m drilled, 13,477 deviation (hole orientation) measurements and 79,236 samples analyzed for gold and collected over a core length of 85 647 m representing 35% of the drilled core length. This database contains 2,107 blank and standard samples, inserted by Cartier between November 1st, 2016 and July 2nd, 2019. This database was validated before starting the resource estimate. The estimate was carried out on seven mineralized structures intersected by 51,029 m of drilling, producing 5,364 different gold intersections.
  7. A high grade cap of 30 g/t Au (5M2 and 6N1 structures), 50 g/t Au (5M and 5N structures) and 110 g/t Au (5B structure) was applied at for the interpolation on composites located more than 15 m from the center of the estimated cell.
  8. Underground openings (open and backfilled-cemented stopes, drifts, raises and shafts) were modeled from cross-sectional and longitudinal sections as well as detailed historical geological and mining plans. Historical underground production has been subtracted from the resource estimate. The reconciliation of the resource estimate to the detailed feed information at the plant between 1990 and 1996 shows only a difference of 4.92% in the tonnage extracted and 2.15% in ounces produced.
  9. This mineral resource estimate has been prepared using the software GeoticMine (v.1.2.14) and Isatis (v.1208.3). GeoticMine has been used for 3D modeling of topographic and bedrock surfaces, mined sites and various underground openings as well as the interpretation of gold structures. Each structure has been defined by individual meshes. Isatis was used for geostatistics and resource estimation on a percent block model. Statistical studies were performed with NCSS (v. 12) and Microsoft Excel software. The grade interpolation was performed using the ordinary kriging method, based on 1.0 m composites and 10 m x 10 m x 10 m blocks.
  10. The mineral resource estimate presented here is classified as Inferred and Indicated. The Indicated Mineral Resource category is defined by interpolation using a research ellipsoid with an average radius of 20 m for pass 1. The category of inferred mineral resources is defined by interpolation using a research ellipsoid having an average radius of 40 m for pass 2 and 80 m for pass 3. Cells that were not estimated during a pass were estimated in the following passes, except for pass 3.
  11. The number of metric tons has been rounded to the nearest hundred and the metal content is presented in troy ounce (ton x grade / 31.1035) rounded to the nearest tenth.
  12. GeoPointCom is not aware of any environmental, permit, mining claim or legal, tax, socio-political, commercial or other relevant matter not mentioned in this news release, which could have a significant impact on the mineral resource estimate.

Chimo Mine Project Highlights

  • Cartier holds a 100% interest in the property for which 1% NSR (” Net Smelter Return ”) royalty has been granted to IamGold Corporation. No rights of first refusal (” buy-back ”) have been granted.
  • The property, which is accessible year-round, is located near 6 mils in the Val-d’Or area.
  • Fourteen gold zones were exploited by 3 producers between 1964 and 1997 for a production of 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • The mining infrastructure consists of a network of drifts over 7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m 3 compartment shaft with a depth of 920 m. The headframe and the surface installations were dismantled in 2008 but the 25 kV power line and the sandpit are still in place.
  • The recent drilling of Phases I, II and III, completed to date by Cartier on the Chimo Mine property, consists of 109 holes totaling 49,251 m. This work demonstrated the continuity of the main 5B and 5M gold zones under the existing mining infrastructure, explored the extensions of 19 gold zones peripheral to the main zones and explored the extensions of the 7 gold zones that were prioritized; which allowed the discovery of the Zones 5B4-5M4-5NE (FIGURE 1) and to develop the potential of Zone 6N1. These areas have excellent potential to deliver future discoveries.

Qualified Persons
The scientific and technical information of the Company and the Chimo Mine Project, included in this news release, have been prepared and reviewed by MM. Gaétan Lavallière, P. Geo., Ph.D., Vice President and Ronan Déroff, P.Geo, M.Sc., Senior Geologist, Project Manager and Geomatician, Qualified Persons as defined by NI 43-101. Mr. Lavallière approved the information contained in the press release.

The independent qualified person for the issuer, responsible for the estimation of mineral resources, as defined in NI 43-101, is Mr. Christian D’Amours, P. Geo., B. A. Sc., President of GeoPointCom. Mr. D’Amours declares that he has read this press release and that the scientific and technical information relating to the estimate of the resources presented herein is compliant.

Quality Assurance / Quality Control

The analytical results, derived from Cartier’s drilling, were obtained from samples measured along the drill core. The estimated true thickness averages about 65% of the measured apparent length. NQ core samples are crushed up to 80% passing an 8 mesh and then pulverized up to 90% passing a mesh of 200 mesh. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of blank samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé (Quebec). The 50 g pulps are analyzed by fire assay and read by atomic absorption, followed by gravimetry for results above 5.0 g/t Au. For samples containing visible gold, 1000 g of rock are analyzed by the ” Metallic Sieve ” method.

About Cartier Resources Inc.
Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. The province has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favorable geology, attractive fiscal environment and pro-mining government. In 2019, the Fraser Institute ranked Quebec the fourth best in the world in terms of attractiveness for mining investments.

  • The company has a strong cash position with more than $ 8.1 million, as well as a significant corporate and institutional endorsement including Agnico Eagle Mines, JP Morgan UK and Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.
  • The Company holds a portfolio of exploration projects located in the Abitibi Greenstone Belt in Quebec; one of the most prolific mining regions in the world.
  • The company is focused on advancing its 4 key projects through drilling programs. All of these projects were acquired at reasonable costs in recent years. All are drill-ready with targets along the geometric extension of known gold deposits.
  • Exploration work is currently focused on the Chimo Mine property to maximize value for investors. The preparation of the next exploration work is underway to carry out drilling programs respectively on the Benoist, Fenton and Wilson properties.
For more information, please contact:Investor Relations:
Philippe Cloutier, P.Geo.Relations Publiques Paradox
President and CEO514 341-0408
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/da21f47d-9781-4aae-ac78-1a174cb51cca

 

 

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Golden Predator Intercepts 6.1 m of 9.33 g/t Gold at Brewery Creek’s Lucky Deposit

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company” or “Golden Predator”) reports significant gold mineralization in 9 of the 10 initial drill holes from its Fall 2019 exploration program at its 100% owned fully licensed Brewery Creek Mine project located 45 minutes from Dawson City, Yukon. Several of these holes, which were generally shallow and proximal to the existing pits, encountered higher than anticipated gold grades. The Company has focused intensely on preparing the former gold producer for redevelopment work to commence in 2020 and has undertaken an aggressive exploration program designed to expand and upgrade current resources. To date, 138 exploration drill holes have been completed for a total of 15,223 m (59,995 ft).

Highlights of the drill program include:

  • 9.33 g/t gold over 6.10 m starting at a depth of 32 m in Lucky zone Hole # RC 19-2554
  • 5.19 g/t gold over 10.67 m from surface in Lucky zone Hole RC # 19-2553
  • 0.61 g/t gold over 24.38 m starting at a depth of 3.05m in the emerging Camp zone Hole # RC 19-2553

To view Brewery Creek maps: http://www.goldenpredator.com/_resources/news/NR-Maps-Oct-19.pdf.

Brewery Creek Drill Program 2019
Dril HoleZoneFrom (m)To (m)Thickness (m)Gold g/t
Lucky Zone
RC19-2553Lucky0.0010.6710.675.19
including4.579.144.579.84
and54.8657.913.050.55
and68.5876.207.620.56
RC19-2554Lucky18.2927.439.142.59
and32.0038.106.109.33
including35.0536.581.5328.75
Camp Zone
RC19-2541Camp21.3424.383.040.99
and33.5342.679.141.22
RC19-2542Camp39.6251.8212.200.78
RC19-2543Camp3.0527.4324.380.61
RC19-2544Camp39.6241.151.530.39
RC19-2545Camp36.5845.729.140.76
RC19-2546Camp7.6210.673.050.81
and33.5342.679.140.73
RC19-2547Camp24.3830.486.100.67
RC19-2549Lucky60.9662.481.520.53
and76.2077.721.520.48

 

1Significant intervals are length weighted average grades chosen based on continuity of mineralization and gold grade with composite grade exceeding 0.3 g/t gold.
All samples obtained from 88.9 mm (3.5”) diameter reverse circulation drill hole that was not split at the drill (submitted the entire sample)
2All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 70-100% of drilled thicknesses.

Brewery Creek: Exploration Program

The 2019 drill program is focused on developing shallow, oxide mineralization along strike from known mineralization in the Fosters/Kokanee, Golden/Lucky and Camp/Pacific structural corridors, and down dip of the Fosters, Kokanee, Golden and Lucky zones that were historically mined.

Assays results are available for 3 reverse circulation drill holes (301.74) of 8 drill holes (813.79m) completed in the Lucky zone in July. The mineralized intercepts are presented in Table 1 and drill collar locations are shown in maps 1 and 2. Initial infill drilling to develop high grade mineralization within the 2014 PEA Lucky resource continued to return encouraging results with 9.33 g/t gold over 6.10m starting at a depth of 32 m in drill hole RC19-2554, including 28.75 g/t gold over 1.53m and 5.19 g/t gold over 10.67m from surface in drill hole RC19-2553. Assays are pending on additional drilling which has focused on the down dip extension of this these intervals in the Lucky zone. Drilling also targeted the western strike extension of mineralization peripheral to the 2014 PEA Lucky resource; drill hole RC19-2549. Assays are currently pending for an additional 33 drill holes completed in the Lucky zone to date.

Assay results are available for all 7 reverse circulation drill holes (387.09m) completed in the emerging Camp zone in July. The gold mineralized intercepts are presented in Table 1 and drill collar locations are shown in maps 1 and 3. All 7 drill holes returned gold mineralized intercepts. Near-surface, oxide gold mineralization in the Camp zone is hosted by both fine-grained sedimentary and monzonitic intrusive rocks similar to the Pacific zone. Significant results include 1.22 g/t gold over 9.14m starting at a depth of 33.53m in drill hole RC19-2541 and 0.61 g/t gold over 24.38m starting at a depth of 3.05m in drill hole RC19-2543. The gold mineralization in the emerging Camp zone, originally identified during the late stages of the last major drilling campaign of 2012, appears to be a ~500m westward extension of the historic gold production in the Pacific zone. The Camp zone is open along strike and at depth.

A summary of the drill sample assays pending for the 2019 program to date is given below.

Lucky Zone36 RC drill holes for a total of 4,241 m (13,914 ft) – 3 drill holes reported
Golden Zone67 RC drill holes for a total of 7,059 m (23,159 ft) – 0 drill holes reported
Kokanee/Fosters Zones28 RC drill holes for a total of 2,959 m (9,708 ft) – 0 drill holes reported
Camp Zone7 RC drill holes for a total of 286 m (938 ft) – 7 drill holes reported

Drilling will conclude at the end of October 2019. Results will be released as received. The Company is experiencing a significant delay in lab results due to capacity issues at labs in Western Canada.

Brewery Creek Mine: Production History

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price to below $300 US per troy ounce. Golden Predator commenced work on the project starting in 2009. Brewery Creek is now authorized to restart mining activities as defined in their Quartz Mining License and Water License. The Company intends to resume mining and processing of licensed deposits while the Company works with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining area to include new discoveries made since 2011.

The 180 km2 property is located 55 km east of Dawson City and is accessible year-round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.

Brewery Creek Mine: Resources

The Company conducted exploration drilling on the Brewery Creek project from 2010 to 2013 and increased the resource 5 fold and completed a Preliminary Economic Assessment (PEA) resource estimate including an Indicated oxide resource of 577,000 troy ounces of gold in 14.2 million tonnes averaging 1.27 g/t gold and an Inferred oxide resources of 279,000 troy ounces of gold in 9.3 million tonnes averaging 0.93 g/t gold (includes resource areas located within and outside of current production licenses). In addition, the resource estimate contains Indicated sulfide resources of 142,000 troy ounces of gold in 3.5 million tonnes at 1.28 g/t gold and Inferred sulfide resources totaling 546,000 troy ounces of gold in 12.4 million tonnes at 1.37 g/t gold (1). Most drilling was historically terminated a short depth below the oxide mineralization, leaving the sulfide potential largely untested.

Sampling Methodology, Quality Control and Assurance

All analyses for the drill samples were performed by SGS Canada, Inc. with sample preparation in Whitehorse, YT and Burnaby, BC, and assaying in Burnaby, BC. Drill samples were analyzed for gold using a 30 gram fire assay with atomic absorption finish (GO FAA30V10 method). Quality control standards include standard reference material, certified blank and field duplicate samples in every sample dispatch.

Brewery Creek Mine: Licenses and Permits

The Company has a Socio Economic Accord with Tr’ondëk Hwëch’in for the Brewery Creek Mine and is licensed to resume mining activities under the current Water License and Quartz Mining Licenses. The project also has a Class IV Mining Land Use Permit to conduct additional exploration.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and low capex to production in a safe first world jurisdiction, Brewery Creek has a clear path to production as an economically and environmentally known project. Optimization studies are progressing to enhance the already positive multi-phase project economics described in the 2014 Preliminary Economic Assessment. Drilling continues to expand the open-ended resources and untested targets across the 186 km2 brownfield property located 55 km by road from Dawson City, Yukon. The Company has a Socio Economic Accord with the Tr’ondëk Hwëch’in First Nation.

At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides the gold for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.

For additional information:

Janet Lee-Sheriff                                                                                                            
Chief Executive Officer                                                                                              
Golden Predator Mining Corp.
(604) 260-8435
info@goldenpredator.com
www.goldenpredator.com

(1) NI 43-101 Technical Report “Preliminary Economic Assessment for the Brewery Creek Property Yukon Territory, Canada” Release Date of November 19, 2014.

(2) Brewery Creek Technical Report, Richard Diment, PGeo May 18, 2003

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements express or implied regarding completion of the transactions described herein, the upcoming season at 3 Aces project, and projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

 

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