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Lawrence Lepard: “Big Print” Coming — Fully Expect US$5,000 Gold, US$200,000 Bitcoin

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‘I call it a doom loop — it’s a vicious circle in the wrong direction, which I believe will ultimately lead to the government having to say, ‘Okay, this isn’t going to work. We are going to institute yield curve control or QE, or we’re going to buy the bonds,” he explained on the sidelines of the New Orleans Investment Conference.

Lepard believes it’s important to hold both gold and Bitcoin, noting that the only wrong allocation is zero.

‘I fully expect Bitcoin’s going to go to US$200,000, and I fully expect gold’s going to go to US$5,000 (per ounce) in the next couple of years,’ he said. ‘All the suffering gold stock holders out there … we’re going to be very pleasantly surprised.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Chris Temple: Gold’s Next Leg Higher, Plus Uranium and Natural Gas in 2025

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Chris Temple, founder, editor and publisher of the National Investor, outlined the main factors he sees impacting the gold price heading into 2025, saying the yellow metal will undoubtedly move higher.

In his view, its rise will come as market participants realize how many problems the US economy is facing.

‘I think that once that reality sets in, gold will get its next big lease on life and the stock market is going to bog down. I think we’re going to see a lot of rotation in the market that will start to favor real assets and real value — away from everybody chasing the same relative handful of stocks as we’ve seen,’ Temple explained.

Aside from gold, Temple spoke about natural gas and uranium, his other two favorite commodities in the near term.

He also discussed the potential implications of Donald Trump’s second presidency, saying it will be key to watch how he develops the US’ relationship with China, especially as the Asian nation grapples with internal problems.

‘This is the most important thing that consumers and investors and policy makers need to watch in 2025 — is Trump smart on how he deals with all of this and rebuilds our own industries to compensate for years down the road? Or is he going to be ham-fisted about it and cause more problems than he solves?’ Temple questioned.

Watch the video above for more from Temple on what’s to come in 2025.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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WGC: Gold to Face Complex Drivers in 2025, Price Likely to Cool After Record-Breaking Year

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The World Gold Council (WGC) has released its 2025 gold outlook, highlighting various macroeconomic factors, geopolitical risks and central bank activity as pivotal forces influencing demand and prices.

While 2024 saw gold achieve a stellar performance with a 28 percent annual increase, the outlook for 2025 is characterized by a mix of opportunities and challenges stemming from both global and regional developments.

The yellow metal has benefited from its historical role as a hedge against uncertainty, but the WGC forecasts that its performance next year will depend on other key variables as well.

Gold to face complex drivers next year

Looking back at 2024, the WGC outlines multiple factors that drove gold’s strong performance.

For instance, central bank demand reached significant levels, underscoring the metal’s enduring role as a safe-haven asset. Central banks have now been net buyers of gold for nearly 15 years.

Meanwhile, investor interest surged amid geopolitical instability and market volatility, particularly in the third quarter, when western investors returned to the market, driven by lower yields and a weakening US dollar.

Asian demand, a critical component of the gold market, played a supportive role in the first half of the year.

Indian demand was buoyed by favorable policy changes, including a reduction in import duties, while Chinese investors turned to gold amid concerns about economic growth.

Heading into 2025, the complex global economic picture is creating uncertainty for gold.

In the US, Donald Trump is expected to introduce policies that stimulate domestic economic growth during his second term as president, potentially driving risk-on sentiment in the short term. However, these policies could also create inflationary pressures and disrupt supply chains, leading investors to seek the stability of assets like gold.

Central banks, including the US Federal Reserve, are anticipated to continue cutting interest rates. Market consensus suggests the Fed will cut by 100 basis points in 2025, with similar actions expected in Europe.

The WGC forecasts in its report that a dovish monetary policy environment could be supportive for the gold price, particularly if inflation remains above target levels. On the other hand, any reversal in monetary policy or a prolonged pause in rate cuts could present challenges for gold, as higher opportunity costs may deter investors.

Similarly, subdued economic growth could limit consumer demand, particularly in Asia, where gold plays a dual role as an investment and a cultural staple.

Asia and central banks to lead gold buying

In 2025, the WGC predicts that Asia will remain a cornerstone of the global gold market. The continent accounts for over 60 percent of annual demand, excluding central bank activity.

Chinese consumer demand, which has been relatively muted, is likely to hinge on the country’s economic policies and growth trajectory. Trade tensions and domestic stimulus measures could sway demand either way, while gold may face increased competition from alternative investment avenues such as equities and real estate.

For its part, India is better positioned to sustain gold demand. With economic growth projected to remain above 6.5 percent and a smaller trade deficit compared to other US trading partners, the WGC believes Indian consumers are likely to continue purchasing gold both for investment and cultural purposes.

Central bank activity will remain a critical driver for gold in 2025. While demand may not reach the heights of recent years, it is expected to surpass long-term averages, providing a consistent source of support for the market.

Central bank purchases are influenced by geopolitical risk, sovereign debt levels and portfolio diversification. These drivers are unlikely to wane, ensuring that central banks will continue to play a stabilizing role in the gold market.

However, any significant deceleration in central bank demand could exert downward pressure on the gold price, particularly if combined with other bearish factors such as higher interest rates or reduced investment flows.

Overall, the WGC predicts that in 2025 the gold market is likely to be shaped by the interplay of four primary drivers: economic expansion, risk, opportunity cost and momentum.

Economic growth, though expected to remain positive, will likely be below trend, limiting the scope for consumer demand growth. Geopolitical risks, including ongoing tensions in regions like South Korea and Syria, may prompt investors to increase their allocations to gold as a hedge against uncertainty.

The opportunity cost of holding gold, determined by interest rates and yields, will be a critical factor. Lower rates should support gold, but any unexpected tightening of monetary policy could dampen investment demand.

Finally, market momentum, influenced by technical factors and investor sentiment, will play a role in determining gold’s short-term performance. A strong start to the year, fueled by initial risk-on sentiment, could pave the way for a more stable or even bullish trajectory, provided macroeconomic conditions remain favorable.

How will the gold price perform in 2025?

Market consensus suggests gold will remain rangebound in 2025, potentially seeing modest gains.

However, the WGC reminds investors that the market is not without risks. A rapid deterioration in financial conditions, unexpected geopolitical developments or a sharp rise in central bank demand could provide upside surprises.

Conversely, a reversal in monetary policy or subdued demand from key markets could cap gold’s performance.

Either way, both investors and analysts will closely monitor developments related to the key regions and variables mentioned to gauge the direction of the gold market this coming year.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Strategic Consolidation of Hidden Lake and Board Changes

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Loyal Lithium Limited (ASX:LLI) (Loyal Lithium, LLI, or the Company) is pleased to announce the execution of a definitive agreement for the consolidation of the Hidden Lake Lithium Project, with Patriot Battery Metals (ASX:PMT) becoming a substantial LLI shareholder. Mr. Blair Way, Non- Executive Director and former President & CEO of Patriot Battery Metals, will join the Loyal Lithium Board of Directors, bringing valuable regional and industry expertise to guide the company’s growth initiatives. The consolidation of the Hidden Lake Lithium Project provides Loyal Lithium with greater flexibility and optionality to deploy innovative exploration and development solutions.

Highlights

  • Loyal Lithium is pleased to announce the execution of a definitive agreement for the consolidation of the Hidden Lake Lithium Project, with Patriot Battery Metals (ASX:PMT) becoming a substantial Loyal Lithium shareholder.
  • Mr. Blair Way, Non-Executive Director and former President & CEO of Patriot Battery Metals, will join the Loyal Lithium Board of Directors, bringing valuable regional and industry expertise to guide the company’s growth initiatives.
  • The consolidation of the Hidden Lake Lithium Project provides Loyal Lithium with greater
  • flexibility and optionality to deploy innovative exploration and development solutions.
  • Loyal Lithium’s 100% owned Hidden Lake Lithium Project is strategically located 65 km from the mining city of Yellowknife, NWT. It is positioned between LIFT Power (TSXV:LIFT), which has a regional MRE1 of 50.4 Mt @ 1.0% Li2O, and the all-weather Highway 4.
  • Mr. Way is an experienced international executive with over 30 years of management experience within the resources and construction industry throughout Australasia, Canada, the United States, and Europe.
  • With $6.0 million in funding2, Loyal Lithium is well positioned to advance its promising Canadian lithium assets for the maturing North American lithium market.

Loyal Lithium’s 100% owned Hidden Lake Lithium Project is strategically located 65 km from the mining city of Yellowknife, NWT. It is positioned between LIFT Power (TSXV:LIFT), which has a regional MRE1 of 50.4 Mt @ 1.0% Li20, and the all-weather Highway 4.

Mr. Way is an experienced international executive with over 30 years of management experience in the resources and construction industry across Australasia, Canada, the United States, and Lurope. As President & CEO of Patriot Battery Metals, Mr. Way was integral in growing the company through the successful exploration and consolidation of the largest lithium deposit in North America, the Shaakichiuwaanaan Project (formerly Corvette). With $6.0 million in funding, Loyal Lithium is well positioned to advance its promising Canadian lithium assets for the maturing North American lithium market.

Commenting on the consolidation agreement and appointment of Mr. Blair Way, Loyal Lithium Managing Director, Mr Adam Ritchie, said:

‘We are thrilled to welcome Blair to the Loyal Lithium Board. His extensive regional and industry expertise will be invaluable as we drive the company’s growth initiatives. Blair’s proven track record with Patriot Battery Metals speaks for itself and demonstrates his unique ability to advance projects and create shareholder value.’

‘The consolidation of the Hidden Lake Lithium Project enables us to actively explore emerging opportunities for innovative solutions in Canadian critical mineral mines. The Hidden Lake Lithium Project, located along a highway, features unique geology and mineralogy that could deliver meaningful economic and social benefits to the region.’

‘I look forward to working closely with Blair to execute our 2025 strategic plan and advance both our Hidden Lake project and the Trieste Lithium Project in Quebec.’

Commenting on his appointment, Loyal Lithium Non Executive Director, Mr Blair Way, said:

‘It has been a pleasure working with Adam and the Loyal Lithium team over the last 18 months. The team has done a great job in advancing their Canadian hard rock lithium assets, achieving significant milestones to date.

The long-term source of North America’s lithium is becoming increasingly clear with several Quebec-based world-class hard rock assets now defined. The Trieste Greenstone Belt demonstrates significant potential, showing early-stage characteristics similar to those seen by Patriot Battery Metals at Shaakichiuwaanaan.

The collaboration potential of the Trieste Greenstone Belt is the key to unlocking value for all, contributing to the sustainable development of the lithium industry. I look forward to working with the Loyal Lithium team to realise this potential and further advancing Loyal’s assets.

THE HIDDEN LAKE LITHIUM PROJECT CONSOLIDATION AGREEMENT

The Hidden Lake Lithium Project was initially structured as a 60% Loyal Lithium and 40% Patriot Battery Metals joint venture. The parties involved have now agreed to divest Patriot Battery Metals’ minority 40% holding in exchange for shares in Loyal Lithium.

Click here for the full ASX Release

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Osisko Metals Corporate Update

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Osisko Metals Incorporated (the ‘ Company ‘ or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: OB51 ) announces, further to its news release dated November 18, 2024 (entitled ‘ Osisko Metals Expands Leadership Team and Announces C$100 Million Bought Deal Financing ‘ ), the following changes to Osisko Metals’ leadership team:

Management Changes

The Company is pleased to announce the implementation of the following key management additions:

  • John F. Burzynski has been appointed as a Director and Executive Chairman
  • Don Njegovan has been appointed as President
  • Blair Zaritsky has been appointed as Chief Financial Officer
  • Amanda Johnston has been appointed as Vice President, Finance
  • Alexandria Marcotte has been appointed as Vice President, Exploration
  • Lili Mance has been promoted to Vice President, Corporate Secretary

Board of Directors Changes

The Company is pleased to announce the appointment of Patrick Anderson and Tara Christie to the Board of Directors of the Company (the ‘ Board ‘).

Patrick F.N. Anderson | Independent Director – Mr. Anderson holds a BSc. Degree in geology from the University of Toronto and is an entrepreneur and executive with over 30 years of experience in the resource sector. He has held key roles across gold, base metals, and diamond projects for junior explorers, major producers, and consulting firms in South America, North America and Europe. His board experience includes companies listed on the TSX-V, TSX, and LSE-AIM exchanges. As the founder, CEO, and Director of Dalradian Resources Inc., he led the discovery of over 6 million ounces of high-grade gold at Curraghinalt and executed a $537 million go-private transaction. Previously, he co-founded Aurelian Resources Inc., overseeing the discovery of the 13.7 million-ounce Fruta del Norte deposit, acquired for $1.2 billion. This deposit is now Lundin Gold’s flagship asset. Mr. Anderson has been named Mining Man of the Year by The Northern Miner and received the PDAC Thayer Lindsley Award. He recently served as Lead Independent Director for Osisko Mining in its $2.2 billion acquisition by Gold Fields Ltd. Currently, he is the CEO of private Dalradian Resources, a Director of O3 Mining Inc., and Chairman of Cornish Metals Inc.

Tara Christie | Independent Director – Ms. Christie is a professional engineer and has over 25 years of experience in the exploration and mining business. Currently, she is the President, Chief Executive Officer and a Director of Banyan Gold Corp. and led the company from discovery to establishing its current resource on the AurMac Gold Project. Ms. Christie currently serves on the board of Western Copper and Gold Corporation and has served on the boards of several other public companies. She was formerly the President of privately owned Gimlex Gold Mines Ltd., one of the Yukon’s largest placer mining operations. Ms. Christie has been a board member of PDAC, Association for Mineral Exploration BC, and the Yukon Environmental and Socio-Economic Assessment Board (YESAB). She is also President of the registered charity ‘Every Student, Every Day’ that works to improve attendance in Yukon schools working with communities and First Nations.

Resignation of Luc Lessard

Luc Lessard has stepped down as a director of Osisko Metals, having served as a director on the Board since 2016. Mr. Lessard will continue as a strategic advisor to the Company.

Concurrent with these appointments, Anthony Glavac has stepped down as Chief Financial Officer.

‘On behalf of the members of the Board, the management team and the staff of Osisko Metals, I would like to thank Luc and Anthony for their valued contributions and commitment to the success of Osisko Metals,’ commented Robert Wares, CEO of the Company. ‘We wish Luc and Anthony all the best in their future endeavors.’

Option Grants

The Company announces that, effective December 12, 2024, it has granted to certain directors, officers, employees and/or consultants of the Company an aggregate of 15,100,000 stock options (‘ Options ‘) pursuant to the Osisko Metals stock option plan.

The Options have an exercise price of $0.26 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the first anniversary of the date of grant.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of   824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘ Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ‘. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals’ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’ . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated resource expansion of the Gaspé Copper system; Gaspé Copper hosting the largest undeveloped copper resource in eastern North America; and the advancement of the Pine Point project.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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PROSPECT RIDGE RESOURCES CONFIRMS ARRANGEMENTS RELATING TO ANNUAL GENERAL MEETING

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Prospect Ridge Resources Corp. (the ‘ Company ‘ or ‘ Prospect Ridge ‘) (CSE: PRR) (OTC: PRRSF) (FRA: OED) wishes to update shareholders on the impact of the strike by the Canadian Union of Postal Workers on the Company’s ability to comply with its obligations to deliver to shareholders its financial statements and related disclosure and proxy-related materials in respect of the Company’s Annual General Meeting (the ‘ Meeting ‘) of shareholders scheduled to be held on Friday, December 13, 2024 at 11:00 AM (Pacific Time) at Suite 430, 605 Robson Street, Vancouver, British Columbia .

As a result of the strike, and pursuant to CSA Coordinated Blanket Order 51-931 Temporary Exemption from requirements in National Instrument 51-102 Continuous Disclosure Requirements and National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer to send certain proxy-related materials during a postal strike (the ‘Blanket Order’), the Company is advising shareholders that:

1.

At the Meeting, shareholders will be asked to vote on the following matters, all as more particularly described in the Information Circular:

(i)

to fix the number of directors of the Company at seven;

(ii)

to elect the seven directors of the Company for the ensuing year;

(iii)

to re-appoint the Company’s auditor for the ensuing year and to authorize the directors of the Company to fix the remuneration to be paid to the auditor;

(iv)

to re-approve the Company’s stock option plan; and

(v)

to transact such other business as may properly be transacted at the Meeting.

2.

The Company has satisfied all of the conditions to rely, and is relying, on the exemption provided by the Blanket Order from the requirement to send proxy-related materials to its shareholders.

3.

Electronic versions of the Notice of Meeting, Information Circular, the form of Proxy (for registered shareholders), and Voting Instruction Form (for non-objecting beneficial owners) and all other proxy-related materials (collectively, the ‘Proxy Related Materials’), as applicable

(i)

have been filed and are available on the SEDAR+ website at www.sedarplus.ca under the Company’s profile; and

(ii)

are posted in a prominent location on the Company’s website at https://prospectridgeresources.com/investors/ .

4.

The Company will also provide copies of the applicable Proxy-Related Materials by email to each shareholder who requests same while the strike is ongoing, at no charge.  To do so, Shareholders may contact Meredith Eades at meredith.eades@prospectridgeresources.com or by phone at 604-670-7818 to request that a copy of the Proxy-Related Materials be emailed to you.

5.

As the electronic versions of the form of Proxy (for registered shareholders) and Voting Instruction Form (for non-objecting beneficial owners) do not contain control numbers, they cannot be voted online or by phone. These electronic forms must be physically completed, signed, and returned to the Company’s transfer agent, Odyssey Trust Company, by:

(i)

Physical delivery or facsimile (details in the Information Circular);

(ii)

Email to proxy@odysseytrust.com .

5.

In the alternative:

(i)

If you are a registered shareholder, you may also contact the Company’s Transfer Agent, Odyssey Trust Company, at Direct Dial (all regions): 1-587-885-0960; US & Canada (toll-free): 1-888-290-1175 to verify your identity and obtain instructions and assistance in voting your shares;

(ii)

If you are a beneficial shareholder, who holds their investment through a brokerage house, depository company or other intermediary, you may also attempt to contact such brokerage house, depository company or other intermediary for instructions and assistance in voting your shares.

The voting deadline for the Company’s upcoming Meeting has been extended to two hours prior to the commencement of the Meeting.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration. Prospect Ridge’s management and technical team cumulate over 100 years of mineral exploration experience and believe the Knauss Creek and the Holy Grail properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast under-explored region.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as   ‘   intends   ‘ or   ‘   anticipates’   , or variations of such words and phrases or statements that certain actions, events or results   ‘   may’,   ‘   could   ‘,   ‘   should   ‘,   ‘   would   ‘ or   ‘   occur   ‘   . This information and these statements, referred to herein as ‘forward-looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/prospect-ridge-resources-confirms-arrangements-relating-to-annual-general-meeting-302330804.html

SOURCE Prospect Ridge Resources Corp.

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GTI Energy

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Overview

Wyoming has the largest uranium reserves of all the US states and is the home of in-situ recovery (ISR) uranium mining, with experimental ISR mining during the early 1960s and commercial ISR mining starting in 1974. The state is an energy powerhouse in the US, second only to Texas in energy production and accounting for more than 80 percent of the country’s uranium production. It has a production history that dates back to the late 1940s. With a soaring uranium price that passed $90 by the end of 2023, many analysts believe the price will remain on the higher end for years to come.

GTI Energy (ASX:GTR,OTCQB:GTRIF) is a mineral exploration company focused on developing a portfolio of attractive uranium projects in the United States. The company now boasts approximately 42,000 acres in the prolific Great Divide and Powder River Basins, which are low-cost ISR uranium-producing districts within 100 miles of each other.

GTI Energy

In 2022, the company completed an additional 103 mud rotary exploration drill holes to increase the total trend length for GTI’s projects in the Great Divide Basin to 7.5 miles.

The company has also commenced work at its Green Mountain ISR uranium project next to Rio Tinto’s (ASX:RIO) uranium deposits. GTI has historical drill data confirming the presence of uranium mineralised roll fronts on the properties.

The company is led by a highly experienced management and exploration team with an extensive track record in the mineral exploration industry. GTI’s operational team has proven development and engineering expertise with a history of success in ISR uranium deposit discovery in Wyoming.

GTI’s acquisition of Branka Minerals in November 2021 gave the company control of the largest non-US or Canadian-owned uranium exploration landholding in the Great Divide Basin, with approximately 19,500 acres. The landholding included underexplored and highly prospective sandstone-hosted uranium properties which are the company’s Wyoming projects today. This holding then grew with the purchase of the 13,800-acre Green Mountain project in 2022.

The company further expanded its ISR uranium portfolio in 2023 by acquiring the Lo Herma Project in Wyoming’s prolific Powder River Basin uranium district. The newly staked 13,300 acres of claims are located within 16 kilometers of Cameco’s Smith Ranch-Highland ISR uranium production plant – the largest production site in Wyoming

GTI Energy leverages the strategic positioning of its Wyoming projects, which are located near Ur Energy’s (TSX:URE,NYSE:URG) Lost Creek ISR production plant and the now-rehabilitated historic Rio Tinto Kennecott Sweetwater Mill. The Lost Creek plant is claimed by Ur Energy to be the lowest-cost ISR uranium production plant outside of Kazakhstan.

GTI is committed to strong environmental, social and governance (ESG) initiatives to support the clean energy transition. In November 2021, the company adopted an internationally recognized Environmental, Social and Governance Stakeholder Capitalism Metrics framework, with 21 core metrics and disclosures.

In December 2021, GTI Energy announced it would be transitioning to carbon-neutral operations. The company has subsequently received its carbon neutral certification for its Australian head office and US field operations, through the Australian Government’s Climate Active Program.

In-situ recovery process as shown by GTI Energy

GTI Energy is positioned for growth with the pursuit of ISR mining on its Wyoming projects, presenting an opportunity for low operating expenses and capital expenditures with low environmental impact compared to conventional mining. ISR mining supports the company’s goal of low-impact mining and carbon neutrality on its Wyoming projects.

In 2021, the company completed field exploration on its Henry Mountains project in Utah. In the same year, GTI Energy also began a 15,000-meter drill program on its Wyoming projects, concluding the program in early 2022. The drilling confirmed that the targeted ISR-amenable uranium mineralization was present at the Thor project. In 2022, the company completed an additional 103 mud rotary exploration drill holes to increase the total trend length for GTI’s projects in the Basin to 7.5 miles.

Company Highlights

  • GTI Energy owns multiple promising assets in Wyoming’s prolific and in-situ recovery (ISR) uranium-producing Great Divide and Powder River Basins. Wyoming is the leading US uranium production state and is “uranium-friendly”.
  • Maiden uranium resource and updated exploration target at the Lo Herma ISR project delivered an inferred mineral resource estimate of 5.71 Mlbs uranium oxide at an average 630 ppm plus an exploration target of an additional 5.87 to 10.26 Mlbs potential at average grade of 500 to 700 ppm.
  • Updated total resources across its Wyoming projects of 7.37 Mlbs plus an exploration target of an additional 11.97 to 19.79 Mlbs potential at average grade of 500 – 700 ppm.
  • In late 2023, GTI completed 26 holes at Lo Herma to verify the historical data base & confirm exploration potential along trend & at depth.
  • GTI acquired a 1,771 drill hole data set over Lo Herma with a replacement value of AU$15 million.
  • GTI received its carbon neutral certification for its Australian head office and US field operations, through the Australian Government’s Climate Active Program.
  • GTI aims to utilize ISR mining at its Wyoming projects, which offers lower environmental impact, lower opex and capex than conventional mining.
  • GTI Energy has a highly experienced exploration team including the recent appointment of ISR specialist, Matt Hartmann, with a history of successful uranium discovery in Wyoming.

Key Projects

Wyoming Projects

GTI Energy

The Wyoming projects are located in the Powder River & Great Divide Basins in Wyoming and the Henry Mountains (Colorado Plateau) Utah, United States. The Greta Divide Basin projects consist of the Thor, Logray, Loki, Odin, Teebo, Wicket and Green Mountain claims. The approximately 13,000 hectare group of projects is prospective for ISR-amenable sandstone-hosted roll-front uranium. The Wyoming projects are situated 5 to 30 kilometers from Ur-Energy’s Lost Creek ISR plant. The projects are also located near Rio Tinto’s Sweetwater/Kennecott Mill.

GTI Energy’s land holding in the Great Divide Basin was bolstered by the acquisition of the Green Mountain project comprising 5,585 hectares of contiguous ISR uranium exploration claims which abuts the Rio Tinto claims at Green Mountain. Historical drill data and geophysics confirms the presence of major uranium mineralisation at the projects.

Initial drilling at Lo Herma commenced in November 2023 and was completed in December with 26 drill holes successfully verifying the historical Lo Herma drill hole database. A drilling permit amendment is currently in progress aiming to optimise follow-up drilling, increase the total number of drill holes, and construct monitoring wells for groundwater data collection. Drilling is expected to resume by July 2024 with an enlarged program, and the mineral resource estimate and exploration targets are expected to be updated in the fourth quarter of 2024.

GTI Energy

The company began initial exploration on Thor in 2021, and in 2022, it completed an additional 103 mud rotary exploration drill holes. The drilling of 70 holes was previously reported at the Thor prospect and an additional 33 holes combined have now been completed at the Odin, Teebo and Loki prospects. These 33 holes have discovered an additional combined 4.26 kilometers of ISR amenable uranium mineralised roll front trends increasing the total trend length for GTI’s projects in the Basin to 12.07 kilometers.

In February 2023, GTI Energy secured, by staking, approximately 3,500 hectares of unpatented mineral lode claims known as the Lo Herma project, about 16 kilometers from Cameco’s Smith Ranch-Highland ISR Uranium facility and Energy Fuels Nichols Ranch ISR plant. Lo Herma also lies within 97 kilometers of the companies leading the restart of uranium production in the USA, including Uranium Energy, Ur-Energy, Energy Fuels, Encore Energy and Peninsula Energy.

The company subsequently, secured a material historical data package for the project, which allowed GTI Energy to report a maiden uranium resource and exploration target update at the Lo Herma ISR project, including a cut-off grade of 200 parts per million (ppm) uranium oxide and a minimum grade thickness (GT) of 0.2 per mineralised horizon as 4.12 million tonnes of mineralisation at an average grade of 630 ppm uranium oxide for 5.71 million pounds (Mlbs) of uranium oxide contained metal. The inferred mineral resource estimate is 5.71 Mlbs uranium oxide at an average of 630 ppm.

The company also completed collection of aerial geophysical data at its Lo Herma, Green Mountain and Loki West ISR uranium exploration projects in Wyoming. The survey was conducted using a twin-engine aircraft loaded with a suite of sensors that provide detailed radiometric, magnetic and electromagnetic data, allowing for correlation between the three products.

Geophysical Data of GTI Energy

The airborne geophysical survey at its Green Mountain project consequently updated its drill plan with 16 potential drill holes. The permit application process is underway for the 2024 drill program which aims to test the validity of the historical Kerr McGee drill hole maps, as well as the interpreted mineralised regions as determined from the airborne geophysical survey.

Henry Mountains Uranium Project

GTI’s uranium/vanadium projects in Utah are considered suitable for conventional mining and are located on the east flank of the Henry Mountains, covering 3,860 acres. The permits host historical production, open underground workings and have an exploration permit in place. The projects saw significant work from 2019 to 2021 including two drill programs totaling 52 drill holes and geophysical logging of an additional 76 historical drill holes. GTI subsequently elected to prioritise work at its newly acquired Wyoming ISR projects until such time as activity and investment in the region improves. The company’s projects lie within ~100 miles of Energy Fuels’ (NYSE American: UUUU) (TSX: EFR) White Mesa Mill and within a few miles of Anfield Energy’s (TSX.V: AEC) Shootaring (Ticaboo) mill site. The owners of both of these mills are actively pursuing mill re-starts.

In addition, Western Uranium & Vanadium (CSE:WUC) (OTCQX:WSTRF) has announced the purchase of a mill site in Green River Utah and work to design and permit the facility for processing uranium and vanadium. The plant, which will be located ~80 miles from GTI’s projects, is intended to process feed from Western’s recently restarted Sunday Mine Complex over 160 miles away. Western advised of a mine operations restart at Sunday in February 2024. Western stated its new ‘mineral processing plant’ will recover uranium, vanadium and cobalt from ore from Western’s mines and that produced by other miners. Western said, on February 13, 2024, it expects the plant to be licensed and constructed for annual production of 1 million pounds U3O8 and 6 million pounds of V2O5, with initial production in 2025.

Based on the renewed interest in exploration, mining, and processing of uranium ore in this region, GTI is currently evaluating potential paths for further exploration, resource development, or other value creating activities with its Utah projects.

Management Team

Bruce Lane – Executive Director

Bruce Lane has significant experience with ASX-listed and large industrial companies. Lane has held management positions in many global blue-chip companies as well as resource companies and startups in New Zealand, Europe and Australia. He holds a master’s degree from London Business School and is a graduate member of the Australian Institute of Company Directors. Lane has led a number of successful acquisitions, fund raising and exploration programs of uranium and other minerals projects during the last 15 years most notably with ASX listed companies Atom Energy Ltd & Stonehenge Metals Ltd & Fenix Resources Ltd (FEX).

James (Jim) Baughman – Executive Director

James Baughman is a highly experienced Wyoming uranium geologist and corporate executive who will help guide the company’s technical and commercial activities in the US. Baughman is the former president and CEO of High Plains Uranium (sold for US$55 million in 2006 to Uranium One) and Cyclone Uranium.

Baughman has more than 30 years of experience advancing minerals projects from grassroots to advanced stage. He has held senior positions (i.e., chief geologist, chairman, president, acting CFO, COO) in private and publicly traded mining & mineral exploration companies during his 30-year career.

He is a registered member of the Society of Mining, Metallurgy, Exploration and a member of the Society of Economic Geologists with a BSc in geology (1983 University of Wyoming) and is a registered professional geologist (P. Geo State of Wyoming). Baughman is a registered member of the Society of Mining, Metallurgy, and Exploration (SME) and a qualified person (QP) on the Toronto Stock Exchange (TSX) and Australian Stock Exchange (ASX).

Petar Tomasevic – Non-executive Director

Petar Tomasevic is the managing director of Vert Capital, a financial services company specializing in mineral acquisition and asset implementation. He has worked with several ASX-listed companies in marketing and investor relations roles. Tomasevic is fluent in five languages. He is currently appointed as a French and Balkans language specialist to assist in project evaluation for ASX-listed junior explorers. Most recently, he was a director at Fenix Resources (ASX:FEX), which is now moving into the production phase. He was involved in the company’s restructuring when it was known as Emergent Resources. Tomasevic was also involved in the company’s Iron Ridge asset acquisition, the RTO financing, and the development phase of Fenix’s Iron Ridge project.

Simon Williamson – Non-executive Director

Simon Williamson was general manager and director of Cameco Australia until late 2023 and has significant uranium industry experience, networks and skills from his 13 years at Cameco. During his tenure with Cameco, Williamson managed relations with key government ministers and departments and community stakeholders. He managed project approvals processes, including negotiations with State and Federal agencies and reviewing the PFS for the Yeelirrie project.

Williamson was intimately involved in obtaining environmental approval for the Kintyre and Yeelirrie uranium projects, including developing and implementing a program of environmental baseline studies, government and community consultation and negotiating land access. Prior to his appointment as general manager, he led the government and regulatory affairs, environmental and radiation safety activities of Cameco in Australia. He also held roles with minerals industry participants in Australia and the US including various positions at Cliffs, Sons of Gwalia the WA Chamber of Minerals & Energy and WMC where he negotiated the mine closure criteria for a gold project near Sacramento, California.

Matt Hartmann – Director

ISR uranium specialist Matt Hartmann is an executive and technical leader with more than 20 years of international experience and substantial uranium exploration and project development experience. He first entered the uranium mining space in 2005 and followed a career path that has included senior technical roles with Strathmore Minerals and Uranium Resources. He is also a former principal consultant at SRK Consulting where he provided advisory services to explorers, producers and prospective uranium investors. Hartmann’s ISR uranium experience has brought him through the entire cycle of the business, from exploration, project studies and development, to production and well field reclamation. He has provided technical and managerial expertise to a large number of uranium ISR projects across the US including, Smith Ranch – Highland ISR Uranium Mine (Cameco), Rosita ISR Uranium Central Processing Plant and Wellfield (currently held by enCore Energy), the Churchrock ISR Uranium project (currently held by Laramide Resources), and the Dewey-Burdock ISR Uranium project (currently held by enCore Energy).

Matthew Foy – Company Secretary

Matthew Foy is an active member of the WA State Governance Council of the Governance Institute Australia. Foy has more than 14 years of experience in facilitating ASX-listing rule compliance. His core competencies are in the secretarial, operational, and governance disciplines for publicly listed companies. Foy has a working knowledge of the Australian Securities and Investments Commission and Australia Stock Exchange reporting. He has document drafting skills that provide the basis for valuable contributions to the boards on which he serves.

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Forum Announces Results of Annual General Meeting

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Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (‘Forum’ or the ‘Company’) reports that all proposed resolutions at its Annual General Meeting of Shareholders held on December 11, 2024 were duly passed by 25.25% of votes cast by the Company’s Shareholders. Richard Mazur, Anthony Balme, Michael Steeves, Larry Okada, Paul Dennison, Janet Meiklejohn and Brian Christie were re-elected as Directors. Davidson & Company, Chartered Professional Accountants, were re-appointed as the Company’s auditor and the Company’s Amended Omnibus Plan was approved. Following the AGM the Board reconstituted all Committees and the following Officers were re-appointed:

Richard Mazur       President and CEO
Dan O’Brien Chief Financial Officer
Rebecca Hunter  Vice President, Exploration
Allison Rippin-Armstrong  Vice President, Nunavut Affairs
Jacqueline Collins Corporate Secretary


About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

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.

For further information contact:

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233544

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Green River Gold Gives Update on Drilling Progress and Results

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PRESS RELEASE HIGHLIGHTS:
  1. Drilling results from WK-24-01, WK-24-02, and WK-24-03 confirm consistent nickel mineralization within the Deep Purple Anomaly.
  2. Elevated gold mineralization has been identified in DH-24-01, with gold grades reaching up to 0.761 grams per tonne.

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (‘the Company’ or ‘Green River’) is pleased to announce the completion of four drill holes for the 2024 season: WK-24-01, WK-24-02, WK-24-03, and DH-24-01. WK-24-01 to 03 were drilled with a portable Winkie drill rig (WK) using an AQTQ core barrel and DH-24-01 with a standard-sized diamond drill rig (DH) using an NQ barrel. The Company has received assay results for holes WK-24-01, WK-24-02, and WK-24-03. These holes were drilled along the Deep Purple magnetic anomaly at the Company’s 100%-owned Quesnel Nickel Project, located 40 kilometres east of Quesnel, British Columbia, in the Cariboo Mining District of South Central British Columbia, Canada.

Green River Gold Corp. is pleased to report assay results for drill holes WK-24-01, WK-24-02, and WK-24-03 from the 2024 drilling season at the Quesnel Nickel Project. Significant Ni, Co, Cr and Mg concentrations commenced at the surface in all 3 holes drilled in the Slide Mountain Terrane ultramafic rocks. Hole WK-24-01, drilled to a depth of 100.58 meters, returned an average nickel grade of 0.185%, cobalt at 0.009%, chromium at 0.100%, and magnesium at 21.87%. Hole WK-24-02, drilled to a depth of 102.11 meters, reported an average nickel grade of 0.171%, cobalt at 0.009%, chromium at 0.124% and magnesium at 20.96%. Lastly, hole WK-24-03, with a depth of 62.48 meters, returned an average nickel grade of 0.189% ppm, cobalt at 0.008% , chromium at 0.119%, and magnesium at 21.27%.

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Figure 1. Drill Collar Locations WK-24-01, WK-24-02, and WK-24-03.

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Hole ID Depth/m Ni/% Co/% Cr/% Mg/%
WK-24-01 100.58 0.185 0.009 0.100 21.87
WK-24-02 102.11 0.171 0.009 0.124 20.96
WK-24-03 62.48 0.189 0.008 0.119 21.27

 

Table 1. Assay results for WK-24-01, WK-24-02, and WK-24-03.

Drill hole DH-24-01 began in the Snowshoe Group-Ramos Succession, composed of compacted metasediments, sandstone, and conglomerate. It then intersected a different lithology which still belongs to the Ramos Succession, characterized by black phyllite, before encountering sulphide-bearing quartz veins containing pyrite and chalcopyrite. From 105.1 to 125.0 meters, the entire drill core was composed of quartz veins, with an associated sulphide content estimated at approximately 5%. Additionally, at a depth of 233.78 meters, the quartz vein section measured approximately 23.11 meters, predominantly hosted within the black phyllite. The quartz veins share a similar mineralogical characteristic with those from WK-23-01 (refer to the June 12, 2023 press release, https://greenrivergold.com/green-river-gold-provides-drilling-update-and-reports-assay-results-from-the-alteration-zone-of-drill-hole-wk-23-01-including-7583-grams-per-tonne-zinc-4340-grams-per-tonne-lead-5-3-grams-per-tonne/). The project geologist logged the drill core in the company’s Quesnel facility and sent the samples to Actlabs in Kamloops for a multielement tracing level diagnosis.

Assay results revealed notable mineralization in gold and silver. The highest gold grade recorded was 0.761 g/tonne from 108.0 to 109.0 meters, followed by 0.568 g/tonne from 105.0 to 106.0 meters. Similarly, silver grades peaked at 14.7 ppm from 105.0 to 106.0 meters and 11.3 ppm from 115.0 to 116.0 meters. Elevated gold concentrations were also identified at 106-107 m (0.184 g/tonne Au), 115-116 m (0.292 g/tonne Au), 141-142 m (0.125 g/tonne Au), and 147-148 m (0.199 g/tonne Au).

Project Geologist Tyler Tian commented that the presence of pyrite, chalcopyrite, and elevated gold concentrations within the Snowshoe Group-Ramos Succession multi-quartz veins is highly encouraging. These veins exhibit a similar mineralogical characteristic to those in drill hole WK-23-01, indicating possible continuity in a potential mineralized system. The Eureka Thrust Fault runs closeby to this area, and it could potentially be associated with an orogenic deposit, similar to our neighbour Osisko Development Corp.’s Cariboo Gold Project. We plan to drill additional holes in the Snowshoe Group rocks to further explore and potentially discover orogenic gold associated with shearing along the Eureka Thrust Fault.

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Figure 2. Drill collar locations WK-24-01 to 03 and DH-24-01.

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Figure 3 Cross-section of DH-24-01, showing lithology.

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Green River Gold Corp. will include 20 planned NQ diamond drill holes, comprising a 6,000-meter drilling campaign designed to core depths down to 300 meters. This phase aims to expand exploration along the 14-kilometer Slide Mountain Terrane strike length between and around Zone 1 and Zone 2 (see Figure 4). In addition, the 2025 program includes plans for extensive exploration work in Snowshoe Group rocks on the Fontaine Gold Project. This will involve bedrock mapping, soil and rock sampling, and a comprehensive geophysical program. Further details about these initiatives will be announced as they are finalized.

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Figure 4. Quesnel Nickel Project, locations of zone one and zone two.

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Quality Assurance, Quality Control

An AQTK (35.5 mm or 1 3/8 in) and NQ (47.6 mm or 1 7/8 in) diameter core barrel was used for the 2024 diamond drill program at the Quesnel Nickel and Talc Property. The drill stem dips and azimuths were orientated at each collar location by a qualified geologist before drilling. Core samples selected for anaylses were generally between 0.6 and 1.5-meter intervals, depending on the identified lithology and mineralization style. The core was cut in half with a diamond core saw, with half of the core placed in sample bags and the remaining half securely retained in core boxes at Green River’s office in Quesnel. The standard samples of high-grade (CDN-ME-2001) and low-grade (CDN-PGMS-29) nickel concentrations, repeat samples which returned from previous assaying, and blanks (BL-10) were systematically inserted into each batch of samples at regular intervals and submitted to MSA and Actlabs laboratory. The standard samples were purchased from CDN Resource Laboratories in Langley, British Columbia. The assay lab preparation procedure included crushing the entire sample to 80% passing 2 millimetres, riffle splitting 250 grams, and pulverizing the split to 95% passing 105 micrometres. Base metal analyses were determined using the four-acid digestion method with an ICP-OES finish. Gold analyses were determined using the fire assay method with an ICP-EM finish. Analytical results were verified with the application of industry-standard Quality Assurance and Quality Control (QA/QC) Procedures. The MSA Labs has an ISO 17025 certificate.

Qualified Person:

Stephen P. Kocsis (P.Geo) is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.

The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.’s mineral claim group containing a proposed mine location at its Cariboo Gold Project.

The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little – President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca

Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as ‘anticipates’, ‘expects’, ‘believes’, ‘estimates’, ‘could’, ‘intends’, ‘may’, ‘plans’, ‘predicts’, ‘projects’, ‘will’, ‘would’ and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.

In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.

The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

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Bold Ventures Identifies New Gold Zone at Its Burchell Gold and Copper Property

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Bold Ventures Inc. (TSXV: BOL) (the ‘Company’ or ‘Bold’) is pleased to announce that it has received assays up to 56.9 gt gold (Au) from a newly identified zone at its Burchell Property (‘the Property’), sampled during a prospecting and field reconnaissance program in November of this year. The high-grade sample was collected approximately 15 meters southwest of 2023 samples which returned between 0.04 and 0.51 gt Au. The zone has now been named the 111 (one-eleven) Zone. A geological sketch map of the outcrop exposure was made and three grab samples were collected along or near the zone during the 2024 program (see Table 1 below for coordinates, descriptions, and results). Assay results ranged from

Table 1: 111 Zone 2024 Results
Sample Date Area X (UTM Z15) Y (UTM Z15) Description Assay Certificate No. Au ppb1 (Fire Assay) Au ppb2 (Fire Assay) Au ppb3 (Photon
Assay)
C277089 2024-11-06 111 Zone area 676832 5380323 Strongly silicified mafic volcanic with 0.5% fine disseminated pyrite. Loose outcrop / frost heave. A24-13987 2400 2670 2550
C277090 2024-11-06 111 Zone 676832 5380320 Strongly silicified mafic volcanic with 0.5-1% fine disseminated pyrite. Loose outcrop or frost heave adjacent to zone in outcrop, about 3m south of previous sample. A24-13987 56300 56900 56800
C277091 2024-11-06 111 Zone 676818 5380332 Strongly silicified sericite schist. Angular boulder, likely talus from nearby slope. A24-13987 48 n/a
C277043 n/a n/a n/a n/a Quartz pebble blank. A24-13987 n/a n/a
C277044 n/a n/a n/a n/a Standard OREAS 24d. A24-13987 n/a n/a

 

The 111 Zone is hosted in strongly silicified, sericitized, sheared mafic volcanics with generally See Figure 3). The package of rocks occupies a prominent northeast-trending magnetic low which may be traceable for up to 10.4 kilometers across the Property, possibly representing a geological structure. (See Figure 2).

QAQC Protocols

Grab samples were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold’s internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Sample rejects were analyzed using Actlabs method PhotonAssayTM, as an additional check on the gold results. Finally, samples were analyzed using ActLabs method 1F2, a 4-acid near total digestion with ICP-OES finish, yielding geochemical results for 35 elements.

Burchell Property Information

The Burchell Project (‘the Project’ or ‘the Property’) is located approximately 100 km west of Thunder Bay, accessible by road south of Trans-Canada Highway 11. The Project is located in the Western Shebandowan Greenstone Belt, contiguous with Goldshore Resources Inc.’s (GSHR) Moss Gold Project which hosts the Moss Gold Deposit (Indicated Resource of 1.23 Moz Au at 1.22 g/t Au, Inferred Resource of 4.92 g/t Au at 1.09 g/t Au. (See Figure 1). The deposit lies within a major 25 km northeast-trending structural corridor which also hosts the past-producing North Coldstream Mine and the Osmani Gold deposit (See Figure 1). 1.8 km of this mineralized trend lies in the northwest corner of the Burchell Property, where historical diamond drilling intersected up to 0.9 g/t Au over 6.4 m, including 4.8 g/t Au over 0.3 m. (See Figure 2).

The Burchell Property is comprised of 242 claims totalling more than 4,500 hectares. Major mineral occurrences on the Property include:

The Hermia Cu-Au Prospect – Located in the western part of the property. Hosted in a zone of deformed felsic to mafic volcanics containing Cu mineralization associated with minor Au, Ag, Mo, Zn and Ni. Historical diamond drilling carried out over a strike length of 2.8 km from 1964 to 2008. Intersections in core include 1% Cu over 5.6 m and 1.68 g/t Au over 1.45 m. (See Figures 1 and 2).

Historical Trenches – Located in the southwest corner of the Burchell Property. Hosted in sheared felsic tuff to lapilli tuff with narrow quartz veining, yielding results up to 42.2 g/t Au over 0.6 m in a chip sample (Osmani 2017, see reference below). (See Figure 2).

The 111 Zone – Located in the central part of the Property. 3m+ wide gold-bearing zone in strongly silicified and sericitized, sheared mafic volcanics containing generally See Figures 2 and 3).

‘We are extremely pleased with the new high-grade discovery, which adds significant value to the Burchell Project and gives the exploration team new target areas to focus on in the coming year,’ said Bruce MacLachlan, President and COO of Bold Ventures Inc.

The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo.,Vice President, Exploration of Bold and a qualified person (QP) for the purposes of NI 43-101.

Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.

References:

Osmani, A., 2017. NI 43-101 Technical Report on the Burchell Lake Property, Northwestern Ontario, Thunder Bay Mining District, NTS 52B/10SE, for Tanager Energy Inc.

About Bold Ventures Inc.

The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.

‘Bruce A MacLachlan’
Bruce MacLachlan
President and COO

Direct line: (705) 266-0847

Email: bruce@boldventuresinc.com

 ‘David B Graham’
David Graham
CEO

 
Neither 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.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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