Initial Mineral Resource Estimate: Ind. 2.86 Moz AuEq* and Inf. 1.57 Moz AuEq*
Bought Deal Financing of C$140 Million Led by Canaccord Genuity
**Not for distribution in the United States of America or to U.S. Newswire services **
VANCOUVER, British Columbia, Aug. 18, 2026 (GLOBE NEWSWIRE) — (SKP: TSX.V) (STKXF: OTCQB) StrikePoint Gold Inc. (“StrikePoint” or the “Company”) is pleased to announce it has entered into a definitive purchase agreement (the “Agreement”) to acquire the Northumberland Gold Project (“Northumberland” or the “Project”) located in Nevada’s Walker Lane, from subsidiaries of Newmont Corporation (“Newmont”) for upfront cash consideration of US$70 million (the “Transaction”). Northumberland is a substantial, past producing gold deposit largely located on private land. StrikePoint also agreed to make two additional contingent cash payments of US$25 million each in the future, the first within 120 days after completion of a Feasibility Study and the second within 120 days after achievement of certain commercial production milestones at Northumberland.
Key Transaction Highlights
- Acquisition of a gold deposit in Nevada’s Walker Lane, a tier-one mining jurisdiction: Nevada is a top ranked mining jurisdiction with numerous operations in the state and an established, proven regulatory framework.
- Independent mineral resource estimate (“MRE”) of 2.86 million oz (“Moz”) of gold equivalent (“AuEq”) in the indicated category and 1.57 Moz of AuEq* in the inferred category contained within 67 million tonnes (“Mt”) and 31 Mt, respectively.
* For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation.
- Brownfields site on private land potentially simplifies permitting: The current MRE at Northumberland is contained on private property which previously hosted open pit production.
- Exploration Targets: Northumberland has not been explored since approximately 2010, and numerous untested targets exist, including extensions of the known mineralization.
- Regional Exploration Package: In addition to the known mineral resources, numerous near pit and property wide exploration targets exist for future exploration.
- Drill Permits in place: Five separate drill permits are currently in place and are expected to facilitate rig mobilization and efficient exploration on both private and public land following closing, subject to applicable permit transfer or replacement requirements.
Michael G. Allen, President and CEO of StrikePoint said: “Acquiring Northumberland is a transformational step for StrikePoint. We will be focused on unlocking the potential of Northumberland going forward and advancing exploration and development activities at Northumberland. In addition to the known initial MRE outlined herein, the acquired land package has potential for additional mineral resources based on identified exploration targets. There are “near pit” and “in pit” opportunities for resource expansion as well as the regional targets to be tested.
Also, I am pleased to welcome Mr. Alan Pangbourne who will be joining the Board of Directors of StrikePoint as Chairman upon completion of the Transaction. Current Chairman, Shawn Khunkhun will remain as a strong voice on the Board.”
Mr. Pangbourne has over 35 years of experience in global mining operations and most recently was the President and CEO of Guyana Goldfields Inc. through to its sale to Zijin Mining Group Co., Ltd. in August 2020. Previously, he was Chief Operating Officer of SSR Mining Inc.; Vice President Projects South America for Kinross Gold Corporation; and held increasingly senior roles at BHP Billiton Ltd., including President and Chief Operating Officer of Nickel Americas, Projects Director for BHP’s Uranium Division, which includes the Olympic Dam Expansion, and Project Manager for BHP’s Spence copper project in Chile, the largest SX-EW copper development project at that time. He was also General Manager at an engineering company that specialized in gold heap leach & carbon-in-pulp plants. Alan is currently a Non-Executive Director at OceanaGold where he also chairs the technical committee.
Alan Pangbourne, incoming Chairman of StrikePoint, said, “Since joining StrikePoint as an advisor, I have worked closely with Management to evaluate targets for acquisition. After a thorough review of the Northumberland Gold Project, I’m excited by the opportunity that the Project represents. The mineral resources already identified in Nevada give us a significant platform to build from, and we will be working hard to advance the Project on multiple fronts.”
Mr. Shawn Khunkhun, outgoing Executive Chairman of the Company and continuing director, said, “The acquisition of the Northumberland Gold Project places StrikePoint as an exciting explorer/developer in Nevada. The skills that Alan brings to the Board of Directors of the Company will be valuable as the Company continues to advance its projects. I look forward to working with him and management on the opportunity that Northumberland represents as a director of StrikePoint.”
Initial Mineral Resource Estimate
The current MRE represents StrikePoint’s initial MRE for the Project. The available drilling information includes 1,511 reverse-circulatory (“RC”) and 37 core holes, drilled by previous operators of the Project, including Cyprus Mines Corporation, Western States Minerals Corporation (“WSMC”), Newmont USA Limited, and Fronteer Development Group Inc. StrikePoint has not yet carried out any drilling or exploration activities at the Project.
The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR Consulting (Canada) Ltd. (“SLR”), who is an independent Qualified Person (QP) for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The report has an effective date of July 31, 2026 and uses the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions for Mineral Resources. SLR has estimated a mineral resource as follows:
- Indicated Resource: 67,008 kt containing 2.71 Moz of gold (“Au”) grading at 1.26 g/t Au with 11.60 Moz of silver (“Ag”) grading at 5.38 g/t Ag. Combined, the gold and silver indicated mineral resource equates to 2.86 Moz of AuEq* at an average grade of 1.33 g/t AuEq*.
- Inferred Resource: 30,967 kt containing 1.52 Moz of gold at a grade of 1.53 g/t Au with 4.26 Moz of silver at a grade of 4.28 g/t Ag. Combined, the gold and silver inferred mineral resource equates to 1.57 Moz of AuEq* at an average grade of 1.58 g/t AuEq*.
* For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation.
Table 1: Northumberland Resource Estimate (Effective Date of July 31, 2026)
| Category | Tonnage (kt) |
Grade (g/t Au) |
Grade (g/t Ag) |
Grade (g/t AuEq*) |
Contained Metal (Au oz) |
Contained Metal (Ag oz) |
Contained Metal (AuEq* oz) |
| Indicated |
67,008 | 1.26 | 5.38 | 1.33 | 2,709,000 | 11,599,000 | 2,857,000 |
| Inferred | 30,967 | 1.53 | 4.28 | 1.58 | 1,519,000 | 4,260,000 | 1,568,000 |
Notes:
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Table 2: Pit Optimization Parameters and Calculation of Marginal Cut-Off Grades
| Parameter | Units | Non Preg- Robbing (Oxides) |
Low Preg- Robbing |
Medium Preg- Robbing |
High Preg- Robbing |
| Gold Price | US$/oz | 3,500 | 3,500 | 3,500 | 3,500 |
| Gold Payability | % | 99.5 | 99.5 | 99.5 | 99.5 |
| Selling Cost (Transport & Refining) | US$/oz Au | 5.00 | 5.00 | 5.00 | 5.00 |
| NSR Price | US$/oz Au | 3,495 | 3,495 | 3,495 | 3,495 |
| Metallurgical Recovery | % | 75 | 90 | 80 | 60 |
| Unit Operating Costs (Process + G&A) | US$/t milled | 13.35 | 31.35 | 31.35 | 31.35 |
| Marginal Cut-off Grade | g/t | 0.16 | 0.31 | 0.35 | 0.47 |
The Northumberland deposit is open in multiple directions, and the property package has targets that may be subject to future exploration. Any potential expansion of the mineral resource estimate would be subject to the results of further exploration.
Technical Report
A technical report titled “NI 43-101 Technical Report Northumberland Gold Project, Nevada, USA”, with an effective date of July 31, 2026 (the “Technical Report”), has been filed on SEDAR+ concurrently with this news release. The Technical Report supports the disclosure of the Mineral Resource estimate for Northumberland. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The Technical Report is available on SEDAR+ and on the Company’s website at www.strikepointgold.com.
The Northumberland Gold Project
References to active mines and other mineral projects is for illustration purposes only. There can be no assurances the Company will achieve comparable results.
Project Location & Infrastructure
The Northumberland Project is located approximately 150 kilometers by road from Tonopah, Nevada. Access is via paved highway and all-weather county road. Northumberland is located within the Walker Lane of Nevada, host to producers such as Kinross’s Round Mountain Mine, located approximately 60 kilometers by road south of Northumberland. The Walker Lane is a prolific mineral trend with significant historical production, new discoveries (including AngloGold’s Arthur Gold Project as well as Centerra’s Goldfield Project, currently under construction) and operational mines including the Round Mountain Mine operated by Kinross. Northumberland’s mineralization is considered a Carlin-style. References to other mining projects and operations are for geographic context only and are not intended to imply comparable economics, resources, or production potential.
Northumberland was initially discovered in the late 1800s. Significant oxide mineralization was discovered in the 1930s and was mined intermittently by various operators until 1991. Interests in the property were transferred to Nevada Western Gold LLC, which became a subsidiary of New West Gold in 2005. Fronteer Gold acquired Nevada Western’s interest in Northumberland in 2007, before Fronteer, including Northumberland, was acquired by Newmont in 2011.
Transaction Structure
Under the Agreement, Nu Gold LLC (“AcquireCo”), a wholly owned subsidiary of 1599044 B.C. Ltd. (“HoldCo”), a wholly owned subsidiary of StrikePoint, will acquire from Newmont USA Limited and Fronteer Development LLC, each a subsidiary of Newmont, certain claims, fee lands, licenses, permits and equipment making up the Northumberland Gold Project, in consideration for (i) a cash payment in the amount of US$70 million on closing; and (ii) contingent payments of US$25 million within 120 days after the completion of a Feasibility Study on Northumberland and US$25 million within 120 days after the achievement of certain commercial production milestones at Northumberland. The Transaction is an arm’s length transaction.
Share Consolidation and Concurrent Financings
Prior to completion of the Transaction and subject to approval from the TSX Venture Exchange (the “TSXV”), the Company will undertake a consolidation of its shares on a basis of 10 old shares for one new share (the “Consolidation”).
In connection with and prior to the closing of the Transaction, 1599042 B.C. Ltd. (“FinCo”), a subsidiary of the Company, shall complete a Brokered Offering (as defined below). The Company has entered into an engagement letter with Canaccord Genuity Corp. (“Canaccord Genuity” or the “Underwriter”) as lead underwriter for a bought deal private placement financing of 70,000,000 subscription receipts of FinCo (the “Subscription Receipts”) at a price of C$2.00 per Subscription Receipt for aggregate gross proceeds of C$140 million (the “Brokered Offering”). In connection with the Brokered Offering, the Company has granted Canaccord Genuity an option (the “Underwriter’s Option”) to purchase additional Subscription Receipts for additional gross proceeds of up to C$21 million. The Underwriter’s Option is exercisable up to 48 hours prior to the closing of the Brokered Offering. Each Subscription Receipt will entitle the holder thereof to receive one post-Consolidation common share in the capital of the Company (each, a “Share”) without any additional consideration or further action upon satisfaction of the Escrow Release Conditions (as defined below).
The net proceeds from the Brokered Offering will be used to satisfy the cash component of the Transaction, to advance exploration and development activities at Northumberland, and for general corporate purposes (less than 10%).
The gross proceeds from the Brokered Offering, less certain expenses of the Underwriter (the “Escrowed Proceeds”) will be placed into escrow, subject to the completion or satisfaction of all escrow release conditions, including, among other things, the completion or satisfaction of all conditions precedent included in the Agreement and the receipt of all required corporate and regulatory approvals in connection with the Transaction (collectively, the “Escrow Release Conditions”) to be set out in a subscription receipt agreement to be entered into on or about the closing date of the Brokered Offering between the Company, FinCo, the Underwriter, and an escrow agent (the “Escrow Agent”). Provided that the Escrow Release Conditions are satisfied or waived (where permitted) prior to 5:00 p.m. (Toronto time) on the date that is 45 days following closing of the Brokered Offering (the “Escrow Release Deadline”), the Underwriter’s fees will be released to the Underwriter from the Escrowed Proceeds, and the balance of the Escrowed Proceeds (less certain expenses of the Escrow Agent) will be released to the Company, and each Subscription Receipt shall be automatically converted into one Share of the Company upon the amalgamation of FinCo and HoldCo, pursuant to an amalgamation agreement to be entered into among the Company, Finco, and HoldCo. In the event that the Escrow Release Conditions are not satisfied by the Escrow Release Deadline, the Escrow Agent shall return to the holders of the Subscription Receipts an amount equal to the aggregate offering price of the Subscription Receipts held by each such holder and their pro-rata portion of any interest or other income earned on the Escrowed Proceeds and the Subscription Receipts will be cancelled.
All securities issued pursuant to the Brokered Offering will be subject to the private company “indefinite” hold period set out in National Instrument 45-102 – Resale of Securities (“NI 45-102”). Upon satisfaction of the Escrow Release Conditions and the exchange of Subscription Receipts, the underlying Shares shall not be subject to any hold period set out in NI 45-102.
In addition, the Company intends to complete a non-brokered private placement of units of the Company (each, a “Unit”) at a price of C$0.20 per Unit (C$2.00 on a post-Consolidation basis) for gross proceeds of up to C$2 million (the “Non-Brokered Offering” and together with the Brokered Offering, the “Offerings”). Each Unit shall consist of one Share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one Share (a “Warrant Share”) for a period of three years from the closing date of the Non-Brokered Offering, at an exercise price of C$0.30 per Warrant Share (C$3.00 on a post-Consolidation basis). The proceeds from the Non-Brokered Offering will be used for costs related to the Transaction and for general working capital purposes.
All securities issued pursuant to the Non-Brokered Offering will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.
Certain directors, officers, and other insiders of the Company (collectively, the “Participating Insiders”) are expected to participate in the Offerings. Each issuance by the Company of securities to a Participating Insider in connection with the issuance of Subscription Receipts of FinCo to the Participating Insiders under the Brokered Offering, or in connection with the issuance of Units of the Company to the Participating Insiders under the Non-Brokered Offering, is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance on the exemptions set out in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of such transactions, insofar as they involve related parties, is not more than 25% of the Company’s market capitalization. The Company will not be in a position to file a material change report 21 days prior to the expected closing of the Offerings because the terms of the Offerings and insider participation will not yet have been established by that time, and the Company is electing to proceed with the Offerings as expeditiously as possible.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Brokered Offering is being conducted in all provinces of Canada pursuant to private placement exemptions and in such other jurisdictions as agreed to by the Company, FinCo and the Underwriter. Closing of the Offerings and the Transaction are subject to certain customary conditions, including but not limited to, the receipt of all necessary approvals including the conditional approval of the TSXV.
The Transaction constitutes a “Fundamental Acquisition” pursuant to TSXV Policy 5.3. Trading in the Company’s common shares is expected to remain halted pending completion of the Transaction. No finder’s fees are payable in connection with the Transaction or the Offerings.
Board of Directors Approval
The Transaction and the Offerings have been unanimously approved by the Board and, after considering the advice of its financial and legal advisors, the Board has unanimously determined that the Transaction and the Offerings are in the best interest of StrikePoint. The Transaction does not require shareholder approval.
Transaction Timeline
The Company anticipates that the closing of the Transaction will occur on or about the end of September.
Advisors and Counsel
Canaccord Genuity is acting as financial advisor to the Company. DuMoulin Black is acting as Canadian legal counsel to the Company and Parsons Behle & Latimer is acting as US legal counsel to the Company.
Qualified Person Statement:
Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR Consulting (Canada) Ltd. (“SLR”), is the Qualified Person (“QP”) who prepared the Northumberland Gold Project Mineral Resource Estimate. SLR Consulting (Canada) is “independent” of StrikePoint as defined by Section 1.5 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
The QP verified the data underlying the Mineral Resource Estimate disclosed in this news release, including data verification during QP site visit (May 12, 2026) with collar verification, a database audit, and cross‑checks against original laboratory certificates to validate assays. QA/QC reviews of certified reference materials, blanks, duplicates, and external checks confirmed acceptable accuracy and precision for geological data drilling. Twin‑hole correlations, survey/deviation and density checks, and sulphur and preg‑robbing modelling were also completed to support geometallurgical domaining and determined that it is suitable for the estimation of mineral resources. Identified limitations are preg-robbing/sulphur coverage is sparse relative to Au assays database; some metallurgical composites are not tied to specific drillholes/intervals; density data for disturbed materials are limited; geotechnical support for 45° overall pit slopes is not presented.
All technical data and scientific data, as disclosed in this press release, have been reviewed and approved by Michael G. Allen, P. Geo, President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of NI 43-101.
Short Term Loan
In addition, the Company announces that it has entered into promissory notes with certain individuals including non-arm’s length parties (collectively, the “Lenders”) pursuant to which the Lenders have loaned the Company C$500,000 (the “Loan”). The Loan is non-interest bearing and is due on demand of the Lenders. The proceeds of the Loan will be used by the Company to pay claim maintenance fees for the Company’s Hercules and Cuprite projects in Nevada. The Loan is subject to TSXV acceptance. It is anticipated that the Loan will be repaid from the proceeds of the Non-Brokered Offering. No finder’s fees will be paid or any securities issued in connection with the Loan.
The entering into of the Loan is a “related party transaction” under MI 61-101 as certain Lenders are directors or officers of the Company and therefore each a “related party” of the Company under MI 61-101. The Company is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance on the exemptions set out in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of such transactions, insofar as they involve related parties, is not more than 25% of the Company’s market capitalization.
About StrikePoint
StrikePoint is a Vancouver based multi-asset gold exploration company focused on building precious metals resources in the Western United States. StrikePoint’s flagship project will be the 100% owned Northumberland Gold Project located in Nevada’s Walker Lane. In addition to Northumberland, StrikePoint owns a portfolio of exploration properties in Nevada, including the Hercules and Cuprite Gold Projects.
About Nevada
Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 Moz Au produced to date. Multiple large mining companies operate mines in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwan Mining, and Integra Resources.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
“Michael G. Allen”
Michael G. Allen
President, Chief Executive Officer & Director
For more information, please contact:
| StrikePoint Gold Inc. Michael G. Allen, President, CEO & Director T: (604) 374-8381 E: [email protected] W: www.strikepointgold.com |
Knox Henderson, Head of Investor Relations T: (604) 551-2360 E: [email protected] |
Cautionary Statement on Forward Looking Information
Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information are characterized by such terms as “anticipate”, “target”, “estimate”, “plan”, “expect”, “potential”, “speculate”, variants of these words and other similar words, phrases, or statements that certain events or conditions “could”, “may”, “will”, or “would” occur. These forward-looking statements or information relate to, among other things: the completion of the Transaction and the Offerings and the anticipated timing thereof, including the anticipated closing of the Transaction; the completion of the Consolidation; the intended use of proceeds from the Offerings; the payment of the contingent consideration to Newmont following completion of a Feasibility Study and the achievement of certain commercial production milestones at Northumberland; the completion of the amalgamation of FinCo and HoldCo; the satisfaction of the Escrow Release Conditions by the Escrow Release Deadline; the Company’s exploration and development plans for Northumberland and the results thereof, including the exploration targets described herein; the timing, cost and results of the work needed to support the completion of economic studies, including those leading up to the completion of a Feasibility Study; the appointment of Mr. Pangbourne as Chairman of the Board upon completion of the Transaction; the anticipated duration of the trading halt; the transfer or replacement of existing drill permits following closing; the repayment of the Short Term Loan; and the receipt of all necessary corporate and regulatory approvals for completion of the Transaction and the Offerings, including the conditional approval of the TSXV.
Such forward-looking information and statements are based on numerous assumptions, including, among others, that the Company will complete the Transaction and the Offerings on the terms and within the timeframe anticipated by management, that the Consolidation will be completed as described herein, that the Mineral Resource Estimate for Northumberland will not be materially revised, that the Company will complete a Feasibility Study and achieve certain commercial production milestones at Northumberland as currently contemplated, that existing drill permits will be successfully transferred or replaced following closing, and that the Company will receive all necessary corporate and regulatory approvals for completion of the Transaction and the Offerings, including the approval of the TSXV. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
All of the forward-looking statements made in this document are qualified by these cautionary statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to: the failure to complete the Transaction or the Offerings in the timeframe and on the terms anticipated by management; the Company not receiving all necessary corporate and regulatory approvals for completion of the Transaction and the Offerings, including the approval of the TSXV; the failure to satisfy the Escrow Release Conditions by the Escrow Release Deadline; the failure to complete the Consolidation; the accuracy of the Mineral Resource Estimate for Northumberland, which is based on assumptions regarding metal prices, cut-off grades, recoveries and other parameters that may prove incorrect; the fact that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability; the risk that further exploration will not result in the delineation of additional mineral resources at Northumberland; delays in, or failure to complete, a Feasibility Study or achieve certain commercial production milestones at Northumberland, which would affect the timing of the contingent payments to Newmont; the risk that existing drill permits may not be successfully transferred or replaced following closing; the potential for an extended trading halt; fluctuations in gold and silver prices; market conditions and access to capital; and other risks associated with the mining industry, including permitting, environmental, title and regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
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.
Cautionary Note for U.S. Investors Concerning Mineral Resources
This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”) modernization rules, known as “S-K 1300”, and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of an “measured mineral resource”, “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category or converted into mineral reserves in accordance with S-K 1300. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a mineral resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC S-K 1300 standards as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this News Release contains descriptions of the Company’s mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd9d5df2-a42d-435c-bccc-bcf2ffa3e3fd
