Mining News Releases & Company Updates - Page 125
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Honey Badger Silver Announces Closing of First Tranche of Non-Brokered Private Placement Raising Gross Proceeds of Approximately $2.013 Million
Honey Badger Silver raised $2.013M via private placements to fund exploration in Canada’s northern territories.
Dios Sells K2 to Azimut
Dios explores gold at its Heberto-Gold project; sells K2 property to Azimut for cash and shares, retaining a royalty. Focus on discovering a world-class gold deposit.
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Excellon Announces Appointment of Mike Hoffman to Board of Directors and Provides Corporate Update
Excellon Resources appoints mining veteran Mike Hoffman to its Board to enhance governance and support growth and production strategies.
Arya Resources Ltd. Engages CHF Capital Markets Inc.
Arya Resources partners with CHF Capital Markets for 12 months to boost investor relations, marketing, and capital markets advisory, with an option for share purchase.
Nevada Organic Phosphate Announces Stock Option Grant and Compensation Shares Issuance
Nevada Organic Phosphate granted stock options and issued shares as bonuses, including a related party transaction, to key personnel.
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Nickelex Provides Corporate Update
Nickelex Resource Corporation has terminated its Arlington Property Option agreement with Origen Resources Inc. due to lack of approval from the TSX Venture Exchange. Nickelex, a Malaspina-Manex Group Company, operates in exploration, administration, and corporate development services. The company owns the Swift Katie gold/copper property in British Columbia, and has received a permit for diamond drilling exploration in 2024. Nickelex also holds an option to acquire interests in the Strong Project in Manitoba. Additionally, Nickelex has participated in funding, acquisition and development of several gold properties in Brazil and Finland, selling its Brazilian properties to Pilar Gold in exchange for 4 million shares.
Salazar Resources Financial Year-End Change to March 31
Salazar Resources Limited has announced that it will change its financial year-end from December 31 to March 31. This move is aimed to align the company's financial reporting with its new strategic partner, Silvercorp Metals Inc., through its subsidiary, Adventus Mining Corporation. Adventus owns a 75% stake in the Curipamba project, while Salazar retains a 25% interest. The company plans to report audited financial results for a transitional 15-month period ending March 31, 2025, and thereafter will follow a quarterly reporting schedule based on a March 31 financial year-end.
Volta Completes the Acquisition of the ZigZag Lithium & REE Project Contiguous to Its Falcon West Lithium Discovery in Ontario
Volta Metals Ltd. has acquired a 100% interest in the ZigZag Lithium property in northwestern Ontario, which is adjacent to its Falcon West Lithium Project. The ZigZag Project, spanning 2,710 hectares, includes the high-grade Dempster East Lithium showing and has potential to host lithium, cesium, tantalum, gallium, and niobium mineralization. Volta paid $350,000 for the ZigZag Project and has resolved all legal claims related to the acquisition. Volta Metals is a Toronto-based mineral exploration company, primarily focusing on lithium, cesium, and tantalum projects.
StrikePoint Closes First Tranche of Private Placement
StrikePoint Gold Inc. has completed the first phase of its non-brokered private placement, issuing over 8 million units at a price of CAD $0.20 per unit, raising a total of $1,652,600. Each unit comprises of one common share and one share purchase warrant. The company also completed a share consolidation on a 10:1 basis. The warrants are subject to an acceleration clause and the company paid $76,762 in finder's fees for introducing subscribers to the financing. All securities issued are subject to a hold period of four months and one day.
Volt Carbon Technologies Closes Shares for Debt Transaction
Volt Carbon Technologies Inc. has concluded its Shares for Debt Transaction after getting approval from the TSX Venture Exchange. The company issued over 17 million common shares at $0.02 each to settle debts totaling $347,842.91. Part of this debt was owed to an external creditor and the rest was owed to a former director and the current CEO. The debt settlement with the CEO, V-Bond Lee, involved the exchange of 5 million shares for a debt of $100,000 and is deemed a "related party transaction". The transaction is exempt from minority approval and formal valuation requirements as it doesn't exceed 25% of the company's market capitalization.
Delta Resources Announces A Premium Charity Flow Through Financing
Delta Resources Limited has announced a partnership with Wealth Creation Preservation & Donation Inc. to create a private placement offering of up to 25,000,000 Charity Flow-Through Units at $0.20 per unit, intending to raise up to $5 million. The proceeds will be used for eligible "Canadian exploration expenses" and to conduct further exploration at the Delta 1 property in Thunder Bay, Ontario. The offering, which is subject to regulatory approvals, is expected to close on November 15, 2024.
Lion Copper Closes US$1.1 Million Private Placement
Lion Copper and Gold Corp. has finalized its previously announced non-brokered private placement, raising $1,132,000 with the issuance of 25,155,554 units at a price of $0.045 each. Each unit includes one common share and one warrant, allowing the holder to acquire an additional common share at $0.06 until November 8, 2029. The company plans to use the funds for working capital and repaying convertible debentures. The securities are not registered under the US Securities Act of 1933, and are subject to a four-month hold period as per Canadian Securities Exchange policies. Certain company directors and officers participated in the private placement.
Nevada Organic Phosphate Announces Amended Terms of Private Placement of up to $500,000
Nevada Organic Phosphate Inc., a company based in British Columbia that explores for organic, sedimentary raw rock phosphate in Nevada, has updated the terms of its previously announced non-brokered private placement. The company plans to offer up to 12.5 million units at $0.04 each, potentially raising $500,000. Each unit will include one common share and a share purchase warrant, which allows the holder to buy an additional share at $0.08 within a 60-month period. The proceeds from this offering will be used for the company's Murdock Property, payment of its reclamation bond, and as working capital.
Pluto Ventures Inc. Announces Forward Stock Split
Pluto Ventures Inc. has announced that its board of directors approved a forward split of the company's common shares on a basis of 2 for 1, effective from November 13, 2024. This means each shareholder will receive one additional share for each share held on that date, doubling the current total of common shares from 10,806,000 to 21,612,000. No action from shareholders is required, and the company's authorized share capital will remain unchanged. The company's name, CUSIP, and trading status will also not change due to the split.
Nova Pacific Metals Initiates Call for Drill Bids on Proposed 8,000 Meter Drill Program at the Lara Project
Nova Pacific Metals Corp. has announced plans for a 2025 exploration program at the Lara Volcanogenic Massive Sulfide Project near Duncan, BC. Preparations include a permit application for a proposed 40-hole infill drill program, which has been accepted by the British Columbia Ministry of Energy, Mines and Low Carbon Innovation. The program aims to confirm previous drill results and prepare for an updated mineral resource estimate. The company has engaged Mineit Consulting Inc. to design the drill program layout, which is expected to provide sufficient data for a new resource estimate in line with National Instrument 43-101 requirements.
Valkea Resources Retains 100% Ownership of Palvanen Project in the Highly Prospective Central Lapland Greenstone Belt, Finland
Valkea Resources Corp. has announced that it will retain full ownership of the Palvanen Project in the Central Lapland Greenstone Belt, Finland. This decision comes after Kinross Gold Corp. decided not to continue with Stage Two commitments of the Earn-In agreement signed with S2 Resources Ltd. in 2021. Over CAD $5 million was invested by Kinross in the Palvanen Project, which generated 15 target areas for gold mineralization. The termination of the agreement also concludes Kinross' Right of First Refusal on Valkea's Paana Project and the Aarnivalkea discovery. Valkea now has complete control and ownership over both the Palvanen and Paana projects. The company is now evaluating Kinross' exploration
Astra Exploration Closes $2M Private Placement Financing; Michael Gentile Increases Ownership
Astra Exploration Inc. has completed a non-brokered private placement, selling 33,333,161 units for a total of CAD $1,999,989.66. Each unit includes one common share and a half warrant, allowing holders to buy another common share for $0.10 within a year. The shares will be on hold for twelve months, expiring November 7, 2025. Company insiders bought 8,333,332 units, triggering related-party transaction regulations, but the issuance was exempt from certain requirements due to the company's listing on the TSX-V and the fair market value being less than $2,500,000.
Caprock Announces Results of Annual General & Special Meeting of Shareholders
Caprock Mining Corp., a Canadian mineral exploration company, has announced the approval of all resolutions and election of nominated directors at its Annual General & Special Meeting. The company, which focuses on exploring battery metals in Newfoundland and precious metals in Ontario, has an option to earn a 100% interest in the Ackley Lithium-Tin-Molybdenum-REEs property in Newfoundland and owns several gold exploration properties in the Beardmore-Geraldton Gold Belt of Ontario.
Heliostar Announces Closing of Acquisition of Producing Mines and Development Projects in Mexico
Heliostar Metals Ltd. has completed the acquisition of all mining assets of Florida Canyon Gold Inc. in Mexico for a cash consideration of US$5,000,000. This includes the San Agustin mine, La Colorada mine, Cerro del Gallo project, and San Antonio project. As part of the transaction, an outstanding US$20 million of contingent payments by Heliostar to FCGI has been eliminated, along with up to US$150 million in conditional option payments and a 2% net smelter returns royalty on the San Antonio project. The acquisition was completed through the purchase of all issued shares of FCGI's Mexican subsidiaries.
Argyle Announces Agreement to Acquire Mineral Claims
Argyle Resources Corp. has signed a definitive agreement to acquire the Saint Gabriel Silica project in Quebec from Steadright Critical Minerals Inc. The acquisition, which is composed of 23 contiguous mineral claims, will cost Argyle $65,000 and 300,000 of its common shares. The shares will be released gradually over the course of a year. The claims are subject to a 2% net smelter returns royalty, half of which can be repurchased for $1,500,000. Argyle plans to commence initial exploration of the new acquisition soon.
Silicon Metals Corp. Begins Trading on Frankfurt Stock Exchange and Announces Amendment to Investor Relations Agreement with Omni8 Global
Silicon Metals Corp. has announced that its common shares have begun trading on the Frankfurt Stock Exchange under the symbol "X6U0". The company's shares are now listed on both the Canadian Securities Exchange and the Frankfurt Stock Exchange. This move is a strategic one for Silicon Metals, as the Frankfurt Stock Exchange is one of the world's largest trading centers for securities, with half of its participants from countries outside of Germany. The company also amended its investor relations agreement with Omni8 Communications Inc., with a new payment plan that includes a monthly cash fee of $7,500 and a one-time fee of CAD$26,250 paid on November 1, 2024.
Japan Gold Announces Results of 2024 Annual General Meeting of Shareholders and Conversion of Debentures
Japan Gold Corp. announced that all resolutions were approved at its Annual General Meeting, held in Vancouver on October 24, 2024. The company plans to convert its outstanding debentures worth $2,904,036 into common shares, leaving it with no remaining debentures or debt instruments. The directors, as listed in the information circular dated September 16, 2024, were re-elected and Davidson & Company LLP was reappointed as auditor. The shareholders also approved Equinox Partners Investment Management to become a new "Control Person" upon converting debentures issued in April 2024, totaling US$2,000,000, into 22,338,738 common shares. Following the conversion, Equinox will hold approximately
Florida Canyon Gold Announces Closing of the Sale of its Mexican Business Unit to Heliostar Metals
Florida Canyon Gold Inc. has completed the sale of its interests in the San Agustin mine, El Castillo mine, La Colorada mine, Cerro del Gallo project, and San Antonio project to Heliostar Metals Ltd. for a total cash consideration of US$10,000,000. The sale includes all issued and outstanding shares of the company's Mexican subsidiaries. As a result, Florida Canyon Gold Inc. no longer holds assets in Mexico, with Heliostar assuming all responsibilities for the Mexican Business Unit. This marks a significant step towards the completion of the company's plan of arrangement transaction.
Alpha Exploration Announces Results of Annual General Meeting of Shareholders
Alpha Exploration Ltd. held its annual general meeting on November 6, 2024, where all agendas were approved. About 55.10% of shares were represented at the meeting. Five directors were elected, and Davidson & Company LLP was appointed as the corporation's auditors. Additionally, the corporation's stock option plan was approved.
EMX Royalty Announces Q3 2024 Results; Expects to Exceed 2024 Adjusted Royalty Revenue Guidance
In Q3 2024, EMX Royalty Corporation reported strong results due to robust royalty production and strong metal prices, with notable performance from Caserones, Gediktepe, and Leeville. The company continued to invest in generating and acquiring royalties worldwide, while partners expanded operations at existing mines and sought new opportunities. Compared to Q3 2023, adjusted revenue increased by 23% and adjusted royalty revenue increased by 45%. Significant investment was seen from Zijin Mining Group at Timok and increased exploration activity within EMX's existing royalty footprints. The company is expected to exceed its 2024 adjusted royalty revenue guidance range of $22,000,000 to $27,500,000.
Kapa Gold Reports Closing Private Placement
KAPA GOLD INC., a Canadian exploration company, has announced the successful closing of a non-brokered private placement, raising CAD$1,000,000 through the issuance of 20,000,000 units at CAD$0.05 per unit. Each unit includes a share and a warrant, allowing holders to purchase an additional share at CAD$0.10 within 36 months from November 7, 2024. The funds will be used for general working capital needs. The company's main project is the Blackhawk Gold Property in California's historic Blackhawk Mining District, where it aims to establish a resource and develop a sustainable extraction strategy.
IAMGOLD Reports Third Quarter 2024 Results
IAMGOLD Corporation has reported its financial and operating results for Q3 2024, expressing pride over stable production and cash flow growth. The company is moving closer to becoming a leading Canadian gold producer with a strong balance sheet. It finished Q3 with a year-to-date gold production of 490,000 ounces, putting them on track to meet their annual production guidance of 625,000 to 715,000 ounces. This has been driven by the performance at Essakane, Westwood, and Côté Gold. IAMGOLD's financial outlook continues to improve, with an intention to close out the gold prepayment arrangement by June 2025. The Côté Gold Mine reached commercial production on August 1, 202
Decade Announces Non-Brokered Private Placement
Decade Resources Ltd has announced a non-brokered private placement of flow-through shares to raise up to $910,000. The offering will consist of 18.2 million units, each containing one common share and one transferable common share purchase warrant. The Mineral Exploration Tax Credit (METC) provides tax benefits for investors in mining flow-through shares. In addition, the proposed 2022 Budget introduced a new 30-percent Critical Mineral Exploration Tax Credit for specified minerals used in the production of batteries and permanent magnets. The proceeds from the sale will be used for the company's projects in British Columbia.
Champion Bear Completes Shares for Debt Transaction
Champion Bear Resources Ltd. has settled and extinguished $961,673.45 of its outstanding debt by issuing 14,794,976 common shares to seven creditors. The debt settlement, approved by the TSX Venture Exchange, involves issuing shares to the company's President and CEO, directors, and the CFO. This move aims to conserve cash and improve the company's balance sheet. The shares issued will be subject to a four-month hold period.
RJK Announces Closing of Private Placement
RJK Explorations Ltd., based in Kirkland Lake, Ontario, has closed a non-brokered private offering of units, raising a total of $424,000. The company issued 12,114,285 units at a price of $0.035 each. Each unit includes one Class A common share and one Class A common share purchase warrant, with the warrant allowing the holder to buy one common share at $0.07 within five years. The funds raised will be used for diamond drilling of potential targets (70%) and general working capital (30%). The securities are subject to a hold period ending March 8, 2025, and the offering still needs final acceptance by the TSX Venture Exchange.
Silicon Metals Corp. Announces Acquisition of Both the Silica Ridge and the Longworth Silica Projects, as Well the Formation of Its Advisory Board
Silicon Metals Corp. has acquired options to purchase full rights in two silica projects in British Columbia - the Silica Ridge Silica Project and the Longworth Silica Project - through option agreements with Cronin Exploration Inc. The Silica Ridge property, covering 2,538.22 Ha, is known for a large quartzite occurrence, while the 3,863.06 Ha Longworth property hosts a sequence of sedimentary and volcanic rocks. Both properties show promising potential for expansion and exploration of high-purity mineralization.
Argo's September 2024 Oil Production and Update
Argo Gold Inc. produced a total of 3,565 barrels of oil in September 2024, averaging 118 barrels per day. The average oil price was CDN$68 per barrel, yielding a total oil revenue of $241,198 and a net operating cash flow of $163,738 for the month. The company also participated in the development drilling of a third oil well at Lindbergh in October 2024. Argo Gold is a Canadian company involved in mineral exploration, development, and oil production.
Ximen Mining Drilling Update Intersects West Zone Mineralized Breccia Brett Epithermal Gold Project-Vernon BC
Ximen Mining Corp. has announced the completion of hole 6 in its active drill program at the Brett epithermal gold project in Vernon, southern BC. The drilling was carried out from the same collar and azimuth as hole 5, but steeper at -65 degrees to intersect the West Zone breccia. The hole was drilled to test the mineralized breccia intersected in hole 5. The results show a zone of argillic alteration with iron oxide, which is devoid of sulfide mineralization due to oxidation. A mineralized breccia zone was also intersected, containing 5-10% pyrite associated with silica veinlets and breccia. Several intensely silicified zones with pyrite were intersect
Military Metals Announces Appointment of Mark Saxon to Its Board of Directors
Mark Saxon has been appointed as an independent director to the board of Military Metals Corp., increasing the board to five seats. Saxon has a technical background in critical metals, and has extensive capital markets experience in Canada and Australia. He has been involved in the exploration and resource geology field for 30 years, holding CEO and leadership roles in various Canadian and Australian public companies. In addition, he has been granted 200,000 common share stock options at $0.95 per share by the company.
GoldON Reports Drill Results from Its West Madsen Gold Project in Ontario's Red Lake Camp
Official news release from GoldON Resources Ltd.
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