Enforcer Gold Intersects 0.73 g/t Gold Over 219.7 Meters on the MOP II Gold-Copper Deposit, Roger Project

By Pia Rivera

Enforcer Gold Corp (“Enforcer” or the “Company”) (TSXV: VEIN, FSE: N071) is pleased to announce the results from its 2018 Phase 1 diamond drilling program on the MOP II gold-copper deposit. The Roger Project is located 5 km north of Chibougamau, Quebec, has all-season road access and is crossed by a power line that serviced the past-producing Troilus Mine. Enforcer is earning a 50% interest in the project from project operator, SOQUEM.

The 2018 Phase 1 program was completed in April with the drilling of 11 holes totalling 3,068 m. The primary objectives of the program were the twinning of 8 historic holes on the Main zone, for which the core is no longer available, and deeper drilling (>300m vertical) to determine if mineralization continues at depth on the eastern portion of the deposit.

Highlights include:

  • Hole 1206-18-85: 0.83 g/t Au over 112 m
  • Hole 1206-18-87: 0.71 g/t Au over 147.8 m
    • including 1.07 g/t Au over 64.8 m
  • Hole 1206-18-88: 0.73 g/t Au over 219.7 m
    • including 1.32 g/t Au over 57.7 m
  • Hole 1206-18-89: 0.54 g/t Au over 230.1 m
  • Hole 1206-18-94: 0.29 g/t Au over 514.5 m
    • including 0.89 g/t Au over 81.0 m
    • including 0.50 g/t Au over 219.5 m

President and CEO, Steve Roebuck, comments:

“Results from the twinned holes have exceeded our expectations in that the mineralization is very consistent throughout each hole and in most cases the grades and widths exceed the historical results. This has significantly boosted our confidence on the potential for defining a bulk-tonnage deposit at Mop-II that is potentially amenable to lower-cost, open-pit mining techniques. With the historic data now validated, the Company has a robust database to work with and will proceed with updating the resource estimate, targeted for release later this summer. Planning for the next phase of exploration is underway with emphasis on targeting areas that have the best potential to increase the resource base.”

The 8 twinned holes have verified the results from the 8 historical holes (Table 2) with mineralization beginning at or near surface and continuing for significant lengths down hole. Holes 1206-18-93 and 94 were collared to the east of the lesser explored North zone and drilled to intersect the Main zone at depth. Both holes intersected mineralization on strike of the North zone, extending its potential strike extent to over 450 m. Hole 1206-18-94 demonstrated continuous lower-grade mineralization over an impressive 514.5 m of core length to a vertical depth of ~400 m. Hole 1206-08-25 was a deepening of historical hole 1206-08-25 from 375 to 521.5 m down hole, also confirming that a very broad halo of lower-grade mineralization extends at depth below the Main zone.

Detailed drill hole location plans and cross sections are available in the Roger Map Gallery.

Table 1. Significant Results from the 2018 Phase 1 Drill Program

Notes to Table 1:

All holes presented in Table 1 were completed by NQ diamond (core) drilling. Widths represent down hole core lengths; true widths are unknown at this time. *Hole 1206-18-91 intersected underground workings from 128.3 to 131.2m downhole; hence, 2.9 m of drill core is missing from the intersection where host rock with potential mineralization has been mined out. As such, the true grade of the intersection is unknown and a value of “0” was assigned to the interval.

The 8 holes presented in Table 1 were drilled to twin 8 holes drilled by Flanagan Inc. from 1986 to 1988. These historical holes were selected in order to achieve a representative sampling of the mineralized zone rather than targeting the best historical grades. The twinning program has successfully corroborated the results of the historic drilling and in all cases returned anomalous gold beginning at or near surface and extending over very significant widths.

Table 2. Comparison of Historic (1986-1988) and 2018 Twin Hole Results

Notes to Table 2:

All holes presented in Table 2 were completed by diamond (core) drilling. Widths represent down hole core lengths; true widths are unknown at this time. *Hole 1206-18-91 intersected underground workings from 128.3 to 131.2m downhole; hence, 2.9 m of drill core is missing from the intersection where host rock with potential mineralization has been mined out. As such, the true grade of the intersection is unknown and a value of “0” was assigned to the interval. All non-assayed intervals in the historical holes were assigned a value of “0”.

Gold mineralization at the MOP-II deposit correlates with broad alteration zones of sericitization and silicification that are largely contained within a 2.2 km long by 0.4 km wide quartz-feldspar porphyry intrusion. The mineralization is homogenous, generally low grade and occurs over broad intervals. In addition to the 58,000 m of diamond drilling now completed on the Roger property, underground exploration undertaken in 1988 included 1,177 m of development and over 1,000 m of chip sampling.

Historical Resource Estimate

As reported on January 22, 2018, a 2006 NI 43-101 compliant mineral resource estimate on the deposit by Scott Wilson Roscoe Postle Associates Inc. for SOQUEM, estimated using an average long-term gold price of US$500 per ounce, totalled 167,200 ounces of gold in the Inferred Resource category as follows:

Historical Inferred Resource Estimate – January 2006

N.B.: Enforcer considers the 2006 estimate as a historical resource estimate that has relevance to the project; however, a qualified person for the Company has not done sufficient work to classify the historical estimate as a current mineral resource and as such it should not be relied on.

QAQC

The 2018 Phase 1 drilling program was managed by project operator, SOQUEM, utilizing standard industry procedures and protocols and following a formal quality assurance and quality control (“QAQC”) program. Sample preparation and analysis were performed by ALS Minerals in Val-d’Or, Quebec, a CAN-P-1579, CAN-P-4E (ISO/IEC 17025:2005) accredited testing laboratory. Gold grades are determined using a standard fire assay with atomic absorption finish on a 30g pulverized fraction. Samples grading above 2 g/t are re-assayed using fire assay with gravimetric finish on a 30g fraction on both the pulps and rejects. SOQUEM routinely inserts …read more

From:: Investing News Network

Bonterra to Acquire Metanor in Strategic Expansion Move

By Nicole Rashotte

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Bonterra Resources (TSXV:BTR) will acquire Metanor Resources (TSXV:MTO) with the intention of creating an advanced Canadian gold exploration and development corporation, the companies announced on Monday (June 18).

The newly combined company’s first and main goal will involve expanding its presence in the Urban Barry Quebec gold camp, with the goal of building out future mining development in the area.

“Bonterra has been an extremely successful exploration company and must continue to evolve and participate in growth opportunities. We have quickly and efficiently discovered and developed the Gladiator deposit over the past two years, and now look to put our exploration skills and experience to work on the larger combined land package,” stated Nav Dhaliwal, president and CEO.


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“We believe we will be able to develop a much larger and more significant resource profile within the Urban Barry camp. The availability and ownership of a permitted and expandable processing facility certainly places Bonterra in an excellent position to rapidly and cost effectively become a significant Quebec based gold produce,” he added.

As per the agreement, Bonterra will acquire all issued and outstanding common shares of Metanor for C$0.73 in equity consideration per share at an exchange ratio of 1.6039 Bonterra shares for each Metanor share; that represents an aggregate transaction value of C$78 million on a fully diluted in-the-money basis.

The transaction should result in a precious metals exploration, development and production company with one of largest contiguous land packages in the highly prospective Urban Barry gold camp.

The company will be in control of three advanced, high-grade gold deposits and significant regional priority targets. The company will be an operator of the only permitted gold mill in the region, which is surrounded by greater than 15 known gold deposits within a 100-kilometer radius.

With Metanor’s mill infrastructure in place, Bonterra will have the opportunity to significantly reduce the capital requirements and shorten the timelines to advance its Gladiator project to potential production.

Additionally, Bonterra will add both the Bachelor mine and the Barry deposit, as well as any associated exploration potential, to its existing resource portfolio. It will also gain Metanor’s strong technical team with a vast knowledge base of this rich camp.


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For Metanor’s part, it will receive the financial strength and flexibility to increase production and exploration programs while leveraging and enhancing existing infrastructures, as well as garner exposure to a potential long-life asset to supplement current production.

Additionally, Metanor’s trading liquidity will increase, as will its enhanced value proposition and capital markets profile. Metanor will also be able to broaden its existing base with key strategic institutional, corporate and retail shareholders.

“Putting together two, arguably, undervalued companies like Metanor and Bonterra is extremely beneficial and logical in a number of ways,” said Greg Gibson, chairman and interim CEO of Metanor.

“Resource growth, exploration synergies and de-risking the path to production are all considerations, as well as potential to access different and larger markets and shareholders. I look forward to working with the Bonterra team, as the combined effort provides the opportunity to create significant shareholder value,” he added.

On Tuesday (June 19), shares of Bonterra closed down 3.3 percent at C$0.44, while shares of Metanor closed up 14.29 percent at C$0.64.

Don’t forget to follow us @INN_Resource for real-time news updates!

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

Editorial Disclosure: Bonterra Resources is a client of the Investing News Network. This article is not paid-for content.


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Parallel Mining Acquires Mane II Exploration Property in Burkina Faso

By Hailey Wahlberg

Parallel Mining Corp. (TSXV:PAL) (the “Company” or “Parallel”) is pleased to announce that the Company has entered into an option agreement (“Option Agreement”) to acquire a 100% interest in the 163-square kilometre Mane II Property (“Mane”) in Burkina Faso.

The Mane property is located in the Kaya-Goren greenstone belt, approximately 20 kilometers south of Nordgold’s Bissa Gold Mine and approximately 40 kilometers north-northeast of the capital city, Ouagadougou.

Artisanal mining is active in several areas on the Property, with the most active group covering a strike length of over 200 metres, and some shafts exceeding 50 meters in depth. Historical results from artisanal reject material, sampled and reported by High River Gold, include gold grades of 20.0 grams per tonne (“gpt”) and 11.2 gpt. In 2017, Parallel Mining conducted a small grab sample program (27 samples) on the artisanal reject material and results included 16.7 gpt, 12.5 gpt, 7.9gpt, 6.3 gpt, and 6.0 gpt.

The vein being exploited by the artisanal workers is hosted in a felsic intrusive (granite) and bears similar characteristics to the vein type which hosts Roxgold’s high grade Yaramoko mine.

To acquire a 100% interest in the Mane Property, Parallel must pay the owner an initial payment of $5,000 USD, a further $15,000 USD 90 days after signing, a further $25,000 USD twelve months after signing, a further $50,000 USD twenty-four months after signing, a further $125,000 USD thirty-six months after signing, and a final payment of $250,000 USD forty-eight months after signing. The owner will retain a 2% royalty on commercial mineral production from the property, subject to a 50% buyback provision.

Qualified Person: Julia Singh, P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

Samples obtained by Parallel Mining mentioned in this release were transported directly to Actlabs in Ouagadougou, Burkina Faso by Company personnel for sample preparation. Samples were sorted, dried, crushed and prepared for final chemical analysis using the Fire Assay AA method for Au. Samples that assayed above the 10.0 gpt over limit were further analyzed by Au Gravimetrics Field duplicates were used for the grab sampling.

Sebedougou

The Company has elected to discontinue its previously announced option to acquire the Sebedougou exploration permit (see news release dated April 6, 2017) to focus on Mane as well as the continued acquisition of high-potential projects in West Africa.

Parallel Mining Corp.

John Anderson

President & Chief Executive Officer

T: +1-604-218-7400

E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Click here to connect with Parallel Mining Corp. (TSXV:PAL) for an Investor Presentation.

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From:: Investing News Network

Rainy Mountain Looks for Opportunities Outside Canada

By Scott Tibballs

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Rainy Mountain Royalty Corp (TSXV:RMO) has released information detailing that the company is exploring opportunities in the base metals sector outside of Canada, including in Namibia.

In a release on Monday (June 18) where the company outlined it’s current projects in Ontario, the company said that “a potential transaction to acquire a large land position in Namibia covering old copper-gold-silver mine producers, has been recently investigated.”

In the release, the company also provided highlights on current operations.

  • $4 million dollar exploration program completed on Marshall Lake copper-zinc-gold-silver exploration property, Ontario
  • Excellent grades intersected on Marshall Lake Property leads to further exploration recommendations
  • Rainy Mountain plans to expand base metal-gold holdings

Click here to find the full Rainy Mountain Royalty Corp (TSXV:RMO) press release on SEDAR.


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Out with the Gold: The Big Data, AI Mining Revolution

By Georgia Williams

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There are few sectors and industries that have not been impacted by technological advancement. Whether it’s improving efficiency, enhancing transparency or transforming the supply chain, big data, machine learning and AI are poised to reshape the mining sector as we know it; and the timing couldn’t be any better.

At the recent Big Data and AI conference held in Toronto, the topic of mining disruption through technology was front and center. Speaker Denis Laviolette, president and CEO of GoldSpot Discovery, highlighted the need for the mining sector to not only embrace the recent advancements, but to also quickly look for ways to integrate these innovations into its business model.

“Their [geologists] job is getting very, very difficult, thanks to the information age and our insatiable appetite for stuff as a society, our geologists have really pushed the limits of their capabilities and have been challenged to keep that pipeline of stuff coming. We need raw materials and our geologists’ technology has not really evolved all that much,” Laviolette told the audience.


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Despite exploration expenditures steadily rising over the last decade, the rate of discovery is on the decline. In part because miners need to look deeper than ever before to find lucrative deposits.

“We ended up scouring the planet and mining out a lot of its resources, picking the low hanging fruit,” said Laviolette. “It’s made deposits a lot more expensive to find and the technologies had to improve, deposits have become deeper and deeper.”

Take gold for example, in the last decade explorers have allocated US$54.3 billion for gold exploration. That is 60 percent higher than the US$32.2 billion spent over the previous 18 years. Despite the massive expenditure, just 215.5 million ounces of the yellow metal have been unearthed in 41 discoveries over the past decade, compared to 1.72 billion ounces from 222 discoveries in the preceding 18-year period.

The problem is further compounded by the length of time it takes to take a mine from the exploration to production stage.

“Previous research into gold lead times showed that it took about 20 years for an asset to advance from early exploration to production,” said S&P Metals & Mining senior research analyst Kevin Murphy earlier this year. “This timeline implies that the reduced discovery rates of the last decade will limit the pool of projects that could come online in 15 to 20 years.”


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That’s where Laviolette’s company comes in. GoldSpot Discoveries uses big data and AI to scan and decipher historical geological data, company data and information, 3D modelling and any other data sets to help miners advance their projects while keeping exploration costs down.

“GoldSpot is working with clients to offer big data services to help them squeeze every last drop of value out of their existing information,” explained Laviolette.

Aside from helping miners understand the breadth and depth of their discovery, GoldSpot is also invested in using its proprietary technology to foresee where the next potential discovery may be.

“We are using that data to predict areas where we think there could be a mineral deposit and actually staking those regions for ourselves to do deals with later,” pointed out Laviolette.

GoldSpot may be the first AI machine learning company in the gold mining space, however as an eager audience member pointed out, the technology and concept can be applied to REE, diamonds and any other mining sector that relies on geological data to inform exploration and discovery.

As technology becomes more prolific in the mining space a lot of guesswork that is associated with discovery will be replaced with real time executable data.

Laviolette concluded, “it’s time to treat exploration like a science and not like an art, we are trying to eliminate the luck out of the eureka moment.”

Don’t forget to follow us @INN_Resource for real-time updates!

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


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Metalla Royalty’s Drew Clark: “Gold Has Always Run at a Sprint”

By Olivia Da Silva

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Drew Clark, vice president of corporate development at Metalla Royalty & Streaming (TSXV:MTA), had advice for investors during a panel discussion at last week’s Mining Investment North America conference, touching specifically on how to navigate production downturn for certain commodities.

Following the panel, Clark elaborated further in a one-on-one interview with the Investing News Network (INN), speaking about where investors should be placing their bets when looking at gold prospects.

“[In gold it’s] becoming increasingly hard to find projects that have scale, and the larger companies are, quite frankly, not backfilling; they’re depleting assets by investing in exploration, so they’re now relying more heavily on M&A than they ever have,” Clark said.

“So why that would be important for investors, in my view, is finding good development projects and exploration properties that have a real chance of making a discovery and likely being taken out at a premium,” he explained.

Check out the interview above, where Clark shares his thoughts on why the royalty and streaming model is becoming more appealing to investors, what the future holds for the space and what Metalla has on the go right now. The transcript for this interview is available below.


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INN: Drew, for those who may not be aware, can you explain the royalty and streaming model and why it’s a compelling option for investors?

DC: The royalty and streaming space is sort of a new [entry] to the mining investment space that came to fruition about 15 years ago. What’s unique about us relative to producers is we take no capital or operating cost risks when we invest in mines. We are typically taking third-party royalties and passing the cashflow through to investors, as well as buying streams on existing mines where we have the right to purchase metal at a discount, to the prevailing spot price or a fixed price that’s typically always at a discount from the spot price.

What’s unique about us is we are able to run these companies with extremely low G&A and generate an immense amount of cashflow when you look at our revenue per employee metric. Take Metalla, for example — on a salary basis it’s myself and the CEO, and we’ve generated probably around $8 million of revenue this year, so that’s $4 million per employee.

But what’s more important than that, aside from being financially robust, is we have a long track record of doing creative deals [for] returning capital shareholders, a track record that most mining and production companies cannot match.

INN: Metalla’s focus is on gold and silver royalties and streams, but we saw some big news in the space with Vale (NYSE:VALE) signing two cobalt streaming deals. Do you think we’ll see more royalty and streaming deals outside of the precious metals space in the coming months/years?

DC: I think you will. Investors like the medium of exposure through a royalty/streaming company as opposed to buying producers, and I think with that you’re going to see companies like Cobalt 27 Capital (TSXV:KBLT), for example, which was part of the Vale deal, starting to deploy capital, as well as Glencore (LSE:GLEN) recently partnered up with teachers to create BaseCore Metals, which is going to be based on a royalty/streaming company.

When you start finding investors that want exposure to certain metals, and you start giving them the medium to gain exposure to it, being a royalty/streaming company I think you’ll see more and more companies doing that. Anecdotally, you’ve even seen it in the weed space with Cannabis Wheaton (TSXV:CBW) being created. So I think you’ll see more and more of that for sure.


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INN: We’re here at Mining Investment North America, and you participated in a panel discussion on depletion in the development pipeline for mining companies. Can you briefly explain how this problem developed and why it’s important to know about?

DC: For me, just specifically on gold, gold has always run at a sprint, it has never run at anything but 100 percent capacity, so every mine is always trying to pull as much metal out at a time. Gold is becoming increasingly hard to find projects that have scale, and the larger companies are, quite frankly, not backfilling; they’re depleting assets by investing in exploration, so they’re now relying more heavily on M&A than they ever have.

So why that would be important for investors, in my view, is finding good development projects and exploration properties that have a real chance of making a discovery and likely being taken out at a premium, and rewarding investors that have that vision with … in terms of stock gains.

INN: Are there any upcoming milestones for Metalla that you want to share to close, or any final thoughts you’d like to leave investors with for 2018?

DC: So Metalla’s upcoming catalysts that are the most relevant are related to the Endeavour mine, which is about 90 percent of our cashflow today. We’ve got an updated mine plan that was just released and we’re looking at, internally, how to share the market, how we view that mine before we get down the road. At the same time, we have a pipeline of projects that we’re working on acquiring, and some could be very creative to investors that we’re really excited about.

Finally, on the side of Metalla, we’re trading at a pretty big discount to our peers and the industry’s starting to wake up to that, and I think pretty soon you’ll see some continued performance for us based on the fact that we are executing our plan as we laid it out at the beginning of the year, and we’re continuing to pay a dividend to investors while they wait for us …read more

From:: Investing News Network

ATAC Announces 1,685,000 Ounces of Gold at its Osiris Project

By Nicole Rashotte

ATAC Resources Ltd. (TSXV:ATC) announced a maiden mineral resource estimate for its Osiris project at the Rackla gold property, Yukon.

Highlights are as follows:

  • Inferred mineral resource of 1,685,000 ounces gold at an average grade of 4.23 grams per tonne, including a pit-constrained mineral resource containing 1,055,000 ounces of gold at 4.08 grams per tonne;
  • Globally competitive discovery cost of C$32 per ounce of gold; and,
  • All zones outcrop at surface and remain open in multiple directions; a 10,000 metre drill program is currently underway to increase the Osiris resources.

.Graham Downs, president & CEO, commented:

Defining a maiden resource with over one million pit-constrained ounces is a major development for the company and highlights the emerging high-grade open-pit potential. With only 78,614 metres used to define the resource we achieved an excellent discovery rate of over 21 ounces of gold for every metre drilled.

Expansion drilling is in full-swing with two drills focused on step-out drilling at the eastern end of the Conrad zone. A total of five drills are now operating between Barrick’s Orion project earn-in and ATAC’s Osiris project, representing our largest drill campaign since 2012.

Click here to read the full ATAC Resources Ltd. (TSXV:ATC) press release.

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Marigold Life of Mine Plan Confirms Near-Term Production Growth

By Nicole Rashotte

SSR Mining Inc. (TSX: SSRM, NASDAQ: SSRM)is pleased to report results of an updated life of mine plan for the Marigold mine in Nevada, US, evaluating a sustained mining rate from the additional haul trucks added in 2016 and 2018 as well as year-end 2017 mineral reserves, for over ten years of mining to 2028.

Highlights are as follows:

  • Robust economics: After-tax net present value of US$552 million based on a US$1,300 per ounce gold price, a 5 percent discount rate and the 2017 year-end mineral reserves.
  • Large gold reserve base in Nevada: Mineral reserves of 3.2 million ounces of gold for over ten years of mining to 2028 and gold production through to 2032.
  • Near-term production growth: Average annual production for the period 2019 to 2020 increases to 218,000 ounces of gold, in-line with the 5-Year Outlook announced in 2016.
  • Increased production scale: Average annual production is 236,000 ounces of gold in the first six years, with peak gold production of more than 265,000 ounces of gold in 2021 and 2022.
  • Competitive life of mine cost position: Life of mine cash costs of US$730 per payable ounce of gold and all-in sustaining costs of US$966 per payable ounce of gold.
  • Low capital intensity: Capital expenditures of US$284 million or US$120 per ounce of gold over the life of mine.
  • Potential for further mine life extension: Incremental Indicated Mineral Resources of 2.5 million ounces of gold provides potential to extend mine life or increase annual production

Paul Benson, president & CEO, commented:

This life of mine plan builds on our exploration success and operational excellence track record at Marigold. Annual gold production is forecast to exceed 265,000 ounces in 2021 and 2022, a more than 30 percent increase over 2017. The new reserve supports mining for over 10 years and gold production for 15 years, with significant resources and exploration potential existing beyond the currently defined reserves.

Marigold opened in 1989 with an initial estimated eight-year mine life and next year celebrates its 30th year of continuous operation. We continue to invest in exploration at the site and expect to continue to increase reserves and resources.

Click here to read the full SSR Mining Inc. (TSX: SSRM, NASDAQ: SSRM) press release.

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Gold Resource Corporation Commences Isabella Pearl Gold Project Construction, Mineral County, Nevada

By Hailey Wahlberg

Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced it has begun constructing its Isabella Pearl open pit heap leach gold project (Project) located in Mineral County, Nevada. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $111 million to shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Construction activities officially began on Monday, June 18, 2018, with Ledcor Group commencing clearing and grubbing operations in preparation of heap leach pad construction. Processing equipment including the crushing plant and radial stackers, previously purchased and being stored in a nearby laydown yard, are being readied for transport to the Project site. One of two previously drilled water wells have had its pump set and completed for on-site water supply.

“Mine construction commencement at the Isabella Pearl Project marks a very exciting time for Gold Resource Corporation and its shareholders,” stated Jason Reid, CEO and President of Gold Resource Corporation. “We target first gold production from Isabella Pearl in less than 12 months from today. This Project is an important driver of Gold Resource Corporation’s growth profile, which includes targeting a more than 100% increase to our annual gold production from Isabella Pearl’s first full year of commercial production.”

About the Isabella Pearl Gold Project

The Isabella Pearl Gold Project is the Company’s flagship property in its Nevada Mining Unit, which also contains the Mina Gold, County Line, Gold Mesa and East Camp Douglas properties. The Project is located in south-central Nevada’s Walker Lane Mineral Belt in Mineral County, Nevada. Proven and probable reserves at Isabella Pearl total 192,600 gold ounces with targeted recovery of 153,000 gold ounces after dilution and recovery estimates over a current four-year mine life. Annual gold production estimates 29,000 ounces year one, 41,000 ounces years two and three, and 42,000 ounces year four.

An average cash cost of $650 per ounce (plus or minus 10%) is estimated over the initial four-year mine life with annual costs projected to decline year-over-year as higher grades are mined and strip ratios decrease. The Company anticipates adding to the Project’s reserves with future exploration drilling. It has identified two new exploration targets within the existing permitted mine plan, Scarlet and Civit Cat North, along with numerous exploration targets outside of the mine plan along its claims covering over six miles of structural trend to the north-west. This important structural trend was home to four historic open pits within 14 miles to the south-east that produced approximately 300,000 gold ounces at the historic Santa Fe open pit alone. The Company’s exploration team believes, in addition to the four historic open pits and the Isabella Pearl deposit all along trend, the Company has locked up exciting prospective ground to potentially add additional open pits and longevity to Company operations.

About GRC:

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $111 million back to shareholders since commercial production commenced July 1, 2010 and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

Cautionary Statements:

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company’s actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company’s 10-K filed with the SEC.

Contacts:

Corporate Development

Greg Patterson

303-320-7708

www.goldresourcecorp.com

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Click here to connect with Gold Resource Corporation (NYSE American: GORO) for an Investor Presentation.

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CMX Acquires Airborne Data Over Cobequid Cobalt Projects

By Hailey Wahlberg

Chilean Metals Inc. (“Chilean Metals,” “CMX” or the “Company”) (TSXV:CMX, OTCQB:CMETF, SSE:CMX, MILA:CMX) has contracted Precision GeoSurveys to conduct detailed Magnetics and Radiometrics surveys over three of the Company properties in the Cobequid Highlands including over the recently acquired Trident Prospect at Bass River. This will be followed by IP surveys over the areas defined by interpretation of the Magnetics and Radiometrics to be high priority areas of interest for Cobalt and Base metals.

“We are very positive about our properties in the Cobequid Highlands and the potential for a major Cobalt and/or base metals discovery. We have just completed Phase 1 of drilling at the Bass River Castlereagh prospect and samples have now been submitted to ActLabs for analysis. We expect to receive assay results around mid July.

We have also submitted drill core samples from historic drilling done on the combined Bass River project as much of the previous drill core was not sampled for Cobalt, Precious or Base Medals. These assay results will be integrated with data from the magnetics, radiometrics and IP surveys to define drill targets. We expect to conduct Phase 2 of drilling at Bass River on the “Trident” target commencing in the second half of Q2″ commented Mick Sharry Chilean President.

About Chilean Metals,

www.chileanmetals.com/

Chilean Metals Inc. is a Canadian Junior Exploration Company focusing on high potential Copper Gold prospects in Chile & Canada.

Chilean Metals Inc is 100% owner of five properties comprising over 50,000 acres strategically located in the prolific IOCG (“Iron oxide-copper-gold”) belt of northern Chile. It also owns a 3% NSR royalty interest on any future production from the Copaquire Cu-Mo deposit, recently sold to a subsidiary of Teck Resources Inc. (“Teck”). Under the terms of the sale agreement, Teck has the right to acquire one third of the 3% NSR for $3 million dollars at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s First Region.

Chilean Metals Inc is the 100% owner of four Copper, Cobalt & Gold exploration properties in Nova Scotia on the western flank of the Cobequid-Chedabucto Fault Zone (CCFZ); Fox River, Parrsboro, Lynn and Bass River North respectively.

ON BEHALF OF THE BOARD OF DIRECTORS OF
Chilean Metals Inc.

“Terry Lynch”

Terry Lynch, CEO

Contact: terry@chileanmetals.com

The Qualified Person for Chilean Metals Inc., as defined by National Instrument 43-101, is Mick Sharry, M.Sc. Consultant

Forward-looking Statements: This news release may contain certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that CMX expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although CMX believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

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.

Click here to connect with Chilean Metals Inc. (TSXV:CMX, OTCQB:CMETF, SSE:CMX, MILA:CMX) for an Investor Presentation.

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