Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) (‘Grande Portage’ or the ‘Company’) is pleased to announce that it has completed a first closing of its non-brokered private placement previously announced on October 30, 2024 for the sale of 3,470,000 units (each, a ‘Unit’) at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the ‘Offering’). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions – Listed Issuer Financing Exemption (the ‘LIFE Exemption’) to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the ‘Offering Document’) related to the Offering that can be accessed under Grande Portage’s profile at www.sedarplus.ca and on the Company’s website at https:grandeportage.com. Except for one US accredited investor, all other investors participating in the first closing subscribed for Units under the LIFE Exemption, and the Units issued pursuant to the LIFE Exemption are not subject to any statutory hold period in Canada. However, the Units issued to the US accredited investor are subject to Rule 144 resale restrictions under applicable US securities laws and will bear a legend to that effect

Each Unit consists of one common share in the capital of the Company (each, a ‘Common Share‘) and one Common Share purchase warrant (each, a ‘Warrant‘). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of C$0.45 per Common Share until November 13, 2026.

One director of the Company (the ‘Insider‘) participated in the first closing of the Offering. Participation by the Insider in the Offering is considered a ‘related party transaction’ pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insider’s participation in the first closing of the Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report in respect of the transaction 21 days in advance of closing of this private placement because the Insider’s participation had not been confirmed at that time. The shorter period was necessary in order to permit this private placement to close in a timeframe consistent with usual market practice for transactions of this nature.

Red Cloud Securities Inc., Canaccord Genuity Corp., and Ventum Financial Corp. (the ‘Finders‘) acted as the finders for the Company in respect of the Offering on a best efforts basis. As compensation for their services in connection with the first closing, the Finders received total cash compensation of C$70,770, and the Finders were also issued non-transferable share purchase warrants (the ‘Finders Warrants‘) which entitle the Finders to acquire up to 235,900 Common Shares at an exercise price of $0.30 per share any time until November 13, 2026.

Grande Portage intends to use the net proceeds of the Offering for furthering the exploration and development of its new Amalga project in Alaska, as well as general working capital purposes.

The Offering may close in multiple tranches with the final closing to occur no later than December 16, 2024. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the acceptance of the TSX Venture Exchange.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Grande Portage:

Grande Portage is a publicly traded mineral exploration company focused on the New Amalga Gold project (formerly the Herbert Gold project) situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the New Amalga property. The New Amalga Gold project is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over seven million ounces of gold.

The Company’s updated NI 43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes).

ON BEHALF OF THE BOARD

‘Ian Klassen‘
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as ‘believes’, ‘anticipates’, ‘expects’, ‘estimates’, ‘may’, ‘could’, ‘would’, ‘will’, or ‘plan’. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company’s filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

SOURCE: Grande Portage Resources Limited

View the original press release on accesswire.com

As announced to ASX on 6th September 2024, the Company obtained an advance against its expected R&D Return. The refund received extinguishes the facility taken out with Radium Capital for $442,000. After repayment of fees and charges for the facility the Company has received a surplus of $207,381. The surplus will be used towards working capital for the Company.

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (‘Lode Gold ‘ or the ‘Company’) is pleased to announce the results of our ongoing interpretation of data collected during the summer 2024 QMAGT survey.

Importantly, two additional RIRGS targets ‘Stingray’ and ‘Camp‘ have been defined on the Golden Culvert property as a direct result of incorporating the new geophysical data with existing geochemical datasets. These new targets complement the RIRGS targets already identified (a total of four highly prospective RIRGS targets, namely ‘Border’, ‘Steelhead’, ‘Stingray’ and ‘Camp’) by Gold Orogen, subsidiary of Lode Gold, on its nearby WIN property.

Field verification of both the ‘Stingray’ and ‘Camp‘ targets is scheduled for next season whereby geologists will endeavour to confirm the presence of the targeted hornfels and/or intrusive suites while collecting geochemical data from soils and rocks in the area. The Golden Culvert property is remarkable in that it contains a 15 km long soil and stream multi-element Au, As, +/-Bi+/-Sb, +/-Pb, +/- Zn geochemical anomaly of which only a small 800 m section (called ‘Main’) has seen drill testing. Prior exploration at Golden Culvert has already successfully demonstrated an extensive gold bearing, anastomosing quartz vein system hosted in meta-sediments considered to be an orogenic style of gold mineralization. The newly identified RIRGS targets significantly enhance the overall endowment potential at Golden Culvert, building upon the already considerable potential identified from the established orogenic styles of mineralization concentrated at the ‘Main’ site, which have historically been the primary focus of exploration within this vast, high potential area.

Highlights include:

• Recent QMAG^T system geophysical results integrated with geology and historic geochemical information has identified two new RIRGS prospects on the Golden Culvert property, named ‘Stingray’ and ‘Camp‘.

• The Golden Culvert property contains a remarkable 15 km long series of gold in soil anomaly trending NW parallel to the regional structural fabric. One 800 m zone has been drilled tested, the ‘Main‘ target, (*best result of 2.53 g/t Au over 33.1 m) the remainder is under-explored.

• ”Stingray“ prospect is centred around a mapped Tombstone-tungsten quartz monzonite intrusion on the southern boundary. The QMAG^T survey data suggests the intrusion is larger than mapped and most likely continues under a carapace of hornfels. Minimal historical work has been conducted in the past. There are stream sediments elevated in gold, arsenic and sulphur and a small soil grid evidenced anomalous arsenic.

• ‘Camp’ prospect is a well-developed zone of soil and rock samples with anomalous gold and arsenic (up to x g/t Au). The QMAG^T survey has revealed this geochemical anomaly arcs to the SE of a distinct magnetic low. The magnetic anomaly is interpreted to be a previously unmapped reduced intrusive.

Fieldwork is scheduled to initially map the extent of hornfels and intrusive, with soil and rock sampling to confirm and enhance the prospectivity of our projects.

The news release dated October 15, 2024, focused on the RIRGS potential of the WIN property and gave details on the Reduced Intrusive Related Gold System model and the regional setting. For more information regarding RIRGS, please view the press release. In summary, based on the RIRGS model, the main exploration target is sheeted gold bearing quartz veins hosted in the cupola (roof) of a reduced intrusion or in the surrounding hornfels (country rock altered by the heat of the intrusion). RIRGS exhibits metal zonation with Arsenic (+/- Au) in the periphery and Au, Bi, Te in the centre.

When interpreting the QMAG^T data, for possible RIRGS, the prime criteria was the presence of a distinct magnetic low zone (the intrusive), often highlighted by an annular of magnetic highs, (the hornfels), backed up by geochemical evidence. Figure 1 shows the reduced-to-the-pole total field magnetic survey covering the entire Golden Culvert property, with the newly identified ‘Stingray’ and ‘Camp’ targets highlighted.

Figure 1 (left): Total magnetic field colour grid, showing the location of the RIRGS targets
Figure 2 (right): Golden Culvert Regional geology

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/229848_5d47b756f4222b9d_001full.jpg

This target is centred on a known, yet unnamed, quartz monzonite intrusion of the Tombstone-Tungsten Cretaceous intrusive suite, as it appears on the published regional geology maps (see Figure 2). Figure 3 shows the RTP total magnetic field image over this intrusion and it clearly suggests it is larger than mapped (dotted line in Figure 3), possibly diving under a roof of hornfel sediments, represented by magnetic high zones. The stream draining this area exhibits elevated Gold, Arsenic Bismuth and Sulphur; additionally, a small soil grid has a coherent arsenic anomaly. The source of the gold anomaly in the stream has not been identified and the potential area of the large zone of hornfels interpreted from the magnetics requires mapping, soil and rock sampling.

Figure 3.The ‘Stingray’ target. Left image: Total magnetic field in colour, the dotted white line shows the interpreted edge of the monzonite intrusion base and hornfels carapace on the magnetics. Right image: Gives the geochemistry, elevated gold and sulphur in the streams and elevated arsenic in the soils (black dots are soil sample sites).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/229848_5d47b756f4222b9d_002full.jpg

The ‘Camp’ Target

The ‘Camp’ target is a distinct magnetic low interpreted from a previously unknown reduced intrusive (See Figure 4). It occurs in a river valley in an area of low topography, and it may not be an outcrop. On the SE side of this magnetic low is an arc of anomalous soil and rock geochemistry that made up the previously recognized ‘Camp’ prospect.

The ‘Camp’ prospect has returned rock grab samples of up to 48.1 g/t Au from a quartz vein with some sulphides hosted within phyllites. The rock grab samples are nested in a coincident gold, arsenic, and lead soil anomaly.

The elevated geochemistry is a distal expression of a possible RIRGS represented by the magnetic anomaly. Field crews will be directed to the area to search for hornfels and/or intrusives to confirm any RIRGS affinity.

Figure 4:  The ‘Camp’ RIRGS target (left) shows a white dotted line around the 120 nt mag low interpreted as a possible reduced intrusion. The total magnetic field is presented in colour on the left. The right image shows the geochemical results over the same area. Bubbles are sized to gold results. The orange represents the soil sample numbers, and the yellow represents the rock samples – the larger the circle, the higher the grade. The highest gold result from rock samples is 48.1 g/t. Grey digital elevation background, the interpreted intrusion is in a flat valley and may not outcrop or be suitable for soil samples.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/229848_5d47b756f4222b9d_003full.jpg

Future Plans

The 2025 field season plans are detailed after comprehensive analysis, consisting of geochemical information, geological mapping and extensive QMAG^T data. The ‘Stingray’ and ‘Camp’ targets presented here are amenable to rapid reconnaissance to confirm the presence of intrusives and hornfels. Confirmation of this will present new RIRGS prospects that were previously unexplored on the Golden Culvert property.

Filing on SEDAR+:

Lode Gold has filed on SEDAR+ an amended NI 43-101 technical report (the ‘Report’) on its Golden Culvert and WIN properties in the Yukon Tombstone Gold Belt. The report was initially filed on July 15, 2024. A typographic error was noticed in the original, stating that the best drill interval on the Golden Culvert property was 12.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03, whereas the actual result was 2.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03. The amended report corrects this error.

Both the original and amended reports were authored by Marty Huber, P. Geo. and Mark Fekete, P. Geo.

ABOUT LODE GOLD

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Its Golden Culvert and WIN Projects in Yukon, covering 99.5 km² across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. A NI 43-101 technical report entitled ‘Technical Report on the WIN-Golden Culvert Property for Lode Gold’ with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.lode-gold.com).

In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km². Its McIntyre Brook Project, New Brunswick, covering 111 km² and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration’s Williams Brook Project (5.55 g/t Au over 50m)¹ and is hosted by orogenic rocks of similar age and structure as New Found Gold’s Queensway Project. The Fancamp’s Riley Brook is a 309 km² package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals – the Company is the first to focus on and assay for gold. A NI 43-101 technical report entitled ‘Technical Report on the WIN-Golden Culvert Property for Lode Gold’, summarizing the work to date on these properties is available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.lode-gold.com).

The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold’s Castle Mountain and Mesquite mines, has a Preliminary Economic Assessment(‘ PEA’) with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023, PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 MOz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 MOz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned private land in Mariposa, the original Gold Rush County, and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.lode-gold.com). The PEA technical report has been reviewed and approved by independent ‘Qualified Persons’ Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology – UCT), FAusIMM, and who is a ‘qualified person’ as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Cautionary Statement Regarding Forward-Looking Information

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.

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229848

Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) announces it has closed a second and final tranche of its previously announced non-brokered private placement offering, issuing an additional 1,360,000 common shares of the Company (‘Shares’) at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$720,800 (the ‘Offering

These additional net proceeds of the Offering are intended to be used primarily to progress the Company’s strategy of a staged rollout of Battery Anode Facilities (BAF) to produce active anode material for EV batteries. Certain proceeds will also be used at the Molo Mine in connection with Phase 2 expansion, working capital requirements as well as general and administrative expenses.

Finder fees of CAD$36,040 were paid in relation to the Offering.

The Shares will be subject to a hold period in Canada expiring four months and one day from the date hereof.

The Company has obtained conditional approval from the Toronto Stock Exchange (the ‘TSX’) for the listing of all Shares issued pursuant to the Offering. The Offering is subject to receipt of final approval from the TSX.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of Shares for sale in the United States. The Shares offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such Shares may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

Investors: Brent Nykoliation Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com

Media: Michael Oke/Andy Mills +44 207 321 0000 nextsource@aura-financial.com

CAUTIONARY NOTE
This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, or ‘should’ occur. Forward-looking statements include any statements regarding, among others, the terms and conditions of the Offering, including final approval of the TSX in respect thereof; timing of on-site construction including the processing plant, process improvements and mine plant adjustments as well as production estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE:NextSource Materials Inc.

View the original press release on accesswire.com

(TheNewswire)

Enhancing regional cooperation and advancing exploration milestones for long-term sustainability in Peruvian mining.

VANCOUVER, BC TheNewswire November 13, 2024 Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) (‘Element79,’ or the ‘Company’) is pleased to provide progress updates regarding the Lucero Project in Arequipa, Peru, following recent engagement with both state regulatory authorities and community representatives.

Field Activities and DREM Arequipa Collaboration

On November 2, 2024, Element79 initiated field activities in coordination with the Regional Directorate of Energy and Mines (DREM) in Arequipa, working directly with Engineer Iván Prado , Regional manager for Energy and Mines for the state. The Company has been actively supporting the social, technical, and environmental foundations of the Minas Lucero Project through DREM’s institutional channels. As part of this effort, Element79’s team has related and received confirmation through these meetings that the time is of the essence and that the collective effort of all interested parties is to complete key contracts before the end of 2024.

The Company has collaborated with DREM in preparing documentation to address the required REINFOs (Mining Rights System) compliance, including files under IGAFOM (Environmental Management Instrument for the Formalization of Mining). The most recent meeting with DREM on November 12 provided updates on state plans to extend formalization support and facilitate essential land agreements between Element79 and the local community.

To this effect, the next milestone meeting is set for November 16 in Chachas, with DREM representatives and key mining stakeholders to discuss contract terms for long-term co-working, artisanal production from the mine, exploration and tailings reprocessing; all of these initiatives reinforce the Company’s position as the holder of the mineral rights to the Lucero mine and strengthen relationships between the Company and the greater Chachas community.

National REINFO Developments and Industry Implications

In light of much-debated and possible upcoming changes to national REINFO regulations, the Company recognizes both potential opportunities and challenges in relation to Element79’s operations and timelines. The likelihood of the changes toward requiring formalization in the immediate term were a major factor a 75%+ majority of the Chachas community voting in favour of Element79 being granted a long-term surface rights permit at the October 6 community General Assembly, as reported by the Company on October 9 .  Should extensions on requiring formalization of REINFO holders be granted, this may delay Element79’s plans. While holding the opinion that Peru is a mining-friendly jurisdiction, Element79 remains vigilant regarding regulatory risks, as the Company aims for an integrated value chain that includes exploration, exploitation, and processing to ensure the technical feasibility of the Minas Lucero Project.

Project Progress and Next Steps

Element79 remains committed to supporting formalization and fostering community relationships as the three phases of Minas Lucero Project advance: exploration of the 67 unexploited veins and the high-sulphidation target; production from existing open veins (artisanal and by the company); and tailings reprocessing.

In the coming weeks, as Element79 continues its strategic engagements with DREM, JAL, and Chachas community stakeholders, discussions are aimed at concluding contracts in the immediate future while maintaining a cooperative approach with local authorities to support the Company’s exploration, mining and tailings reprocessing efforts, formalization efforts and foster constructive community relations.

About Element79 Gold Corp.

Element79 Gold is a mining company with a focus on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production at the mine and through reprocessing its tailings, in the near term.

The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, and the projects are believed to have significant potential for near-term resource development. The Company has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects with a closing date on or before November 30, 2024.

The Company also holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.

For more information about the Company, please visit [www.element79.gold](http://www.element79.gold)

**Contact Information**

For corporate matters, please contact:

**James C. Tworek, Chief Executive Officer**

E-mail: jt@element79.gold

For investor relations inquiries, please contact:

**Investor Relations Department**

Phone: +1.403.850.8050

E-mail: investors@element79.gold

—

**Cautionary Note Regarding Forward-Looking Statements**

This press release contains ‘forward‐looking information’ and ‘forward-looking statements’ under applicable securities laws (collectively, ‘forward‐looking statements’). These statements relate to future events or the Company’s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management’s experience and perception of historical trends, current conditions, and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company’s business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions, or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘forecast’, ‘potential’, ‘target’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’ and similar expressions) are not statements of historical fact and may be ‘forward‐looking statements.’

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

Copyright (c) 2024 TheNewswire – All rights reserved.

Saga Metals Corp. (‘ TSXV: SAGA ‘) (‘ FSE: 20H’ ) (‘ SAGA ‘ or the ‘ Company ‘), a North American exploration company focused on discovering critical minerals, is pleased to announce its plans for a maiden drill program at the Double Mer Uranium project.

Key Highlights for the maiden drill program at the Double Mer Uranium Project:

• Maiden Drill Program: SAGA’s first drilling initiative at Double Mer will focus on the Luivik zone , the westernmost area of an 18 km uranium trend identified through surface sampling and radiometric surveys. This program will assess the zone’s uranium potential, laying the groundwork for further exploration.
• Potential Uranium-Rich Targets: Three primary targets have been identified along the 18 km trend, with Luivik as the first focus. This zone shows promising signs of uranium-bearing pegmatites enriched with smoky quartz and iron carbonate, suggesting secondary fluid enrichment that can be conducive to uranium mineralization.
• Drilling Planned for Winter 2025: Drilling is scheduled to begin in early 2025, with an initial minimum of 1,500 meters of drilling planned. The program will systematically grid and evaluate the anomalies of the Luivik zone, providing comprehensive data on its uranium potential.

The Double Mer Uranium Project is Saga Metals’ flagship project, covering 1,024 claims across 25,600 hectares in eastern-central Labrador, approximately 90 km northeast of Happy Valley-Goose Bay. Leveraging significant historical exploration data, SAGA entered its 2024 field program with a solid foundation, enabling a focused approach to expand known uranium mineralization along an 18 km trend.

Throughout the 2024 field season, SAGA’s team compiled and validated key data, which has strengthened confidence in the project’s potential. This work has refined the understanding of the target zones, specifically supporting the decision to initiate drilling within the promising Luivik zone .

Regional map of the Double Mer Uranium Project in Labrador, Canada

SAGA sees the Double Mer Uranium Project as a promising addition to the significant uranium projects already established in Labrador’s Central Mineral Belt (CMB) , including Paladin Energy’s Michelin and Atha Energy’s CMB discovery. With encouraging surface samples and geophysical data, SAGA believes Double Mer could offer comparable large-tonnage potential.

To advance from discovery toward resource definition, SAGA is launching a focused 1,500 to 2,500-meter drill program in the Luivik zone , aiming to confirm uranium concentrations and take initial steps in delineating the zone’s uranium resources. This strategic drilling marks a critical step in positioning Double Mer as a significant project in the Labrador uranium landscape.

‘We are incredibly excited to be starting the preparations for our maiden drill program, a key milestone for the company. The Luivik zone target is incredibly compelling and is born from our efforts over this past field season,’ stated Michael Garagan, CGO & Director of Saga Metals Corp. ‘We submitted our drilling permits early autumn in anticipation and now, with the recent closing of the second tranche from our IPO prospectus, SAGA can start to put plans in motion. The Luivik zone looks to contain a late-stage fluid enrichment to the already emplaced uraniferous pegmatites and conveniently is located proximal to our camp making for a logistically practical initial drill program in the winter months. This pragmatic approach gives our team high confidence in the Luivik zone, while our strategy will continue to develop additional tier one targets throughout the Nanuk and Katjuk zones heading into the spring. Our goal at Double Mer has always been to confirm the continuation of large tonnage reserves already proven to exist in Labrador.’

The Double Mer Uranium property and its three zones as defined by the 2024 field season.

The Luivik zone has been prioritized for drilling due to its anomalous uranium (U3O8%) geochemistry, along with clear signs of alteration and fluid enrichment. This zone exhibits Iron phase IOCG (Iron Oxide Copper Gold) fluid characteristics, such as high concentrations of smoky quartz and iron carbonate staining, which are indicators of late fluid flow. This characteristic will be carefully monitored as it can have the potential to enrich uraniferous units and mark the highest-grade intercepts. Consistent CPS (counts per second) readings further highlight the Luivik zone’s significant uranium potential, making it a top target for exploration.

The zone’s favorable mineralogy is complemented by logistical advantages. Located just one kilometer from Double Mer’s main camp, the Luivik zone offers easy access for drilling teams, with snowmobile trails in place to support active drilling operations, ensuring both practical and cost-effective program execution.

The Luivik zone in the west of the Double Mer Uranium Property. Mapped pegmatites with amphibolite mafic rocks which sit in place with much of the mineralized trends.

The Luivik zone boasts a width of 300 meters between samples with a cut-off of 150 ppm U3O8 and anomalous grades over 1,100 ppm U308 to a high of 3,692 ppm U3O8 in a single sample. The Uranium count radiometrics suggest that the anomalous pegmatites which predominantly hosts the Luivik zone may extend upwards of one km or greater.

Discovered later in the 2024 field season due to well-covered outcrops, the Luivik zone required extensive manual work to expose the bedrock beneath overburden. Unlike the Nanuk and Katjuk zones, which run along ridge lines with exposed outcrop, Luivik’s more concealed setting initially limited visibility. However, scintillometer readings pinpointed highly anomalous areas throughout the zone, confirming its strong exploration potential. This discovery underscores Luivik as a promising target for SAGA’s upcoming maiden drill program.

Luivik zone with detailed drone imagery inset of channel sample cross section perpendicular over zone expressing both rock and channel sample locations with CPS readings from R-125 Scintillometer

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company’s flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18-kilometer east-west trend, with a confirmed 14-kilometer section producing samples as high as 4,281ppm U ₃ O ₈ and spectrometer readings of 22,000cps.

In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.

SAGA also holds secondary exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com

Qualified Persons

Peter Webster, P. Geo., of Mercator Geological Services Limited is a ‘qualified person’ as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘ NI 43-101 ‘) and has reviewed and approved the scientific and technical content of this news release regarding the Double Mer Property.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. 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 this release.

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to plans with respect to drilling at its mineral exploration properties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to satisfy closing conditions in respect of the Offering, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Prospectus and available under the Company’s profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/64070cd4-dce2-419a-9ace-6b07f02dd90f

https://www.globenewswire.com/NewsRoom/AttachmentNg/56ed0904-8931-4ea8-9d49-4785dc1978a3

https://www.globenewswire.com/NewsRoom/AttachmentNg/e5fbb1d2-5ac9-4ead-a896-2ff8d6c68348

https://www.globenewswire.com/NewsRoom/AttachmentNg/51c4e638-216b-480e-9e31-0bebf6d28705

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’), is pleased to announce that it has entered into an option agreement (‘Agreement’) with Mustang Energy Corp. (the ‘Optionee’ or ‘Mustang’), whereby the Optionee may acquire a 75% interest in the Company’s 914W Uranium Project (the ‘Property’). The Property consists of a total of one mineral claim covering approximately 1,260 hectares located in the Athabasca Basin, Northern Saskatchewan.

Terms of the Agreement:

Pursuant to the Agreement, Mustang may acquire a 75% interest in the Property by (i) issuing common shares in the capital of the Optionee (‘Shares’) having an aggregate value of CAD $480,000; (ii) making aggregate cash payments of CAD $275,000; and (iii) incurring an aggregate of CAD $800,000 in exploration expenditures on the Property over a three-year period, as follows:

(1) Deemed pricing of Shares is based on the five (5) day volume weighted average price on the Canadian Securities Exchange for the 5 days prior to the time of the issuance (the ‘Deemed Price’).

Skyharbour will retain an NSR royalty of two percent (2%) whereby Mustang shall have the right at any time to purchase one-half (1/2) of the NSR royalty from Skyharbour in consideration of the payment to Skyharbour of CAD $1,000,000, thereby leaving Skyharbour with a one percent (1%) NSR royalty.

914W Property Summary:

The 914W Project consists of one claim covering 1,260 hectares approximately 48 km southwest of Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing excellent access for exploration. Historical geological mapping of the property and the surrounding area has shown that the project is predominantly underlain by prospective Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which host significant unconformity-related uranium mineralization further to the north in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.

914W Property Map:

https://skyharbourltd.com/_resources/projects/914W-image2.jpg

Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited modern exploration work. The earliest work on the 914W property included airborne EM and magnetic surveys and ground geological reconnaissance in 1968-1970, lake water and sediment sampling in 1976, ground VLF-EM, magnetic, and radiometric surveys, geological mapping, trenching, as well as sampling on the project and surrounding areas. Immediately to the north of the 914W property, prospecting led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the Don Lake Trenches (SMDI 1983), where up to 1,288 ppm U was encountered in drill hole ML-1 (SMDI1961) in a pyroxene-rich unit, and surface prospecting revealed up to 0.64% U ₃ O ₈ in a trench at Don Lake Zone E (SMDI 1983). More recently, the project has seen airborne geophysical coverage by helicopter-borne VTEM (southern half) in 2005 and Tempest TDEM (northern half) in 2007, with prospecting, geological mapping, rock/sediment sampling and lake sediment sampling occurring on the project and surrounding areas in 2005-2007. The project remains underexplored and prospective for unconformity-related and pegmatite-hosted uranium and REE’s.

ICP Securities Inc. Engaged for Automated Market Making Services:

The Company further announces the engagement of ICP Securities Inc. (‘ICP’) to provide automated market making services, including use of its proprietary algorithm, ICP Premium, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of November 11, 2024, and is for four (4) months (the ‘Initial Term’) and shall be automatically renewed for subsequent one (1) month terms (each month called an ‘Additional Term’) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There is no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future and ICP is an arm’s length party to the Company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. ICP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.

About ICP Securities Inc.:

ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About Mustang Energy Corp.:

Mustang Energy is an exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company operates several exploration projects in Saskatchewan’s Athabasca Basin, including the Ford Lake Project (7,743 hectares), Cigar Lake East and Roughrider South (combined 3,443 hectares), as well as recent acquisitions like the Yellowstone Project (21,820 hectares) and the Dutton Project (9,667 hectares). Mustang Energy remains committed to responsible exploration, with a focus on environmentally and socially sustainable operations, while contributing positively to local communities.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres, including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is an operator with joint-venture partner Rio Tinto. The project hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources (previously Valor) at the Preston, East Preston, and Hook Lake Projects respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which hosts the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over $41 million in partner-funded exploration expenditures, over $30 million worth of shares being issued, and over $22 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:

https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
‎Skyharbour Resources Ltd.
‎Telephone: 604-558-5847
‎Toll Free: 800-567-8181
‎Facsimile: 604-687-3119
‎Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Forward-Looking Information

This news release contains ‘forward‐looking information or statements’ within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, 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 may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

PRISM MarketView a leading provider of market insights and company news, proudly announces that Cardiol Therapeutics Inc. ( NASDAQ: CRDL, TSX: CRDL ) has been added to the PRISM Emerging Biotech Index, which spotlights companies leading innovation and creating market impact within the biotech sector. Cardiol’s focus on anti-inflammatory and anti-fibrotic therapies for heart disease, including its lead candidate CardiolRx, positions it as a pioneer in addressing major unmet needs in cardiac care.

The US FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis. Cardiol’s MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the Phase II MAvERIC-Pilot study (NCT05494788), the Phase II/III MAVERIC-2 trial, and the planned Phase III MAVERIC-3 trial. The MAVERIC-2 trial will evaluate the impact of CardiolRx in recurrent pericarditis patients following the cessation of interleukin-1 blocker therapy. MAVERIC-2 is expected to initiate in Q4 2024 at major pericardial disease centers across the United States and Europe, with results anticipated ahead of the company’s planned pivotal Phase III MAVERIC-3 trial.

Recurrent pericarditis affects approximately 38,000 patients in the United States annually who have experienced at least one recurrence. The global pericarditis market was valued at $2.44 billion in 2023 and is projected to grow at a CAGR of 5.24% during the forecast period of 2024-2032, reaching $3.87 billion by 2032.

In addition, Cardiol is advancing CRD-38, a proprietary subcutaneously administered therapy for heart failure. Cardiol’s broad IP portfolio and regulatory pathway focus, including FDA and European Medicines Agency orphan designations, bolster its strong market positioning. The company is debt-free and well-capitalized to achieve corporate milestones into 2026.

For more information on Cardiol Therapeutics and the PRISM Emerging Biotech Index , visit prismmarketview.com .

About Cardiol Therapeutics
Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead small molecule drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis and heart failure.

Cardiol has received Investigational New Drug Application authorization from the U.S. Food and Drug Administration (FDA) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: recurrent pericarditis and acute myocarditis. The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath and fatigue and results in physical limitations, reduced quality of life, emergency department visits and hospitalizations, comprises the Phase II MAvERIC-Pilot study (NCT05494788), the Phase II/III MAVERIC-2 trial, and the planned Phase III MAVERIC-3 trial. The ARCHER trial (NCT05180240) is a Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age. The FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure – a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding $30 billion annually.

For more information about Cardiol Therapeutics, please visit cardiolrx.com .

About PRISM MarketView
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small-cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on X.

PRISM MarketView does not provide investment advice.

Disclaimer: This communication was produced by PRISM MarketView (PMV). PMV is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy or a recommendation of any security. PMV may be compensated by respective clients for publicizing information relating to its clients’ securities.
See prismmarketview.com/disclaimer/

Contact:
PRISM MarketView
info@prismmarketview.com
646-863-6341

First Helium Inc. (‘First Helium’ or the ‘Company’) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has completed its field survey activities and selected the surface location for its Leduc anomaly test well planned for drilling this winter. The survey will be used to prepare necessary regulatory applications for drilling approval. The well location has been selected based on a thorough evaluation of recently acquired proprietary 3D seismic data where the Company has identified a significant anomaly in the Leduc Formation which it believes to be prospective for oil. To date, the Company has drilled two successful Leduc oil wells at Worsley, including the 1-30 and 4-29 Leduc oil pool discoveries, respectively, which together have produced more than 113,000 barrels of light oil, generating in excess of $13 million in revenue and $8 million in cash flow.

‘The completion of our recent financing will allow us to proceed with a number of operations this winter, which include testing the large 3D seismic anomaly targeting Leduc oil, and completing the previously drilled Blue Ridge horizontal well targeting helium-enriched natural gas. If successful, these operations will set the stage for immediate cash flow for the Company, coupled with the accelerated development of oil and helium enriched natural gas at Worsley, executed alone or with larger partners,’ said Ed Bereznicki, President & CEO of First Helium.

‘These operations represent a very important next step for the Company in de-risking the Leduc and Blue Ridge plays, respectively. Each has the potential to unlock significant, follow up development drilling on the Company’s 53,000-acre, 100% owned land base’, added Mr. Bereznicki.

Highlights of the Worsley Winter Program

This winter, the Company is planning to undertake a number of significant operations at Worsley, including:

Leduc Formation:

• The Company has also selected surface locations on three additional Leduc drill targets identified on proprietary 3D seismic, including one drilling location (‘7-30’) which was assigned ‘proved plus probable undeveloped’ oil reserves of 196,700 barrels ¹ by Sproule, its independent evaluator. Depending on timing, and capital availability, the Company may elect to pursue one or more of these additional Leduc drill targets.

Figure 1:

First Helium Worsley Proprietary 3D Seismic Leduc Interpretation

Blue Ridge Formation:

• Completion and testing of the previously drilled 5-27 horizontal Blue Ridge well is planned (see Figure 2) to establish a repeatable, high margin, helium-enriched natural gas play targeted to deliver significant volumes of helium gas production. The project’s potential scale and enhanced profitability will serve to attract partnership opportunities.

Figure 2:

West Helium Worsley Blue Ridge Development Scenario

Together, the vertical Leduc play, along with the Blue Ridge play combine to provide tremendous opportunity for scalability and future growth, all on existing (100 per-cent) Company held lands. Given the large potential opportunity of the Worsley project, the Company will continue to explore potential partnerships to accelerate the development of its rich asset base.

ABOUT First Helium

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 15-25 helium discovery well at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium’s ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company’s Worsley land base.

For more information about the Company, please visit www.firsthelium.com .

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

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

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate’, ‘plan’, ‘continue’, ‘expect’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘predict’, ‘potential’ and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: First Helium Inc.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/bf8b83dd-ca0e-42a0-94fc-99b981ae9347

https://www.globenewswire.com/NewsRoom/AttachmentNg/d4b00224-de76-498d-801f-d7c2b03ce12d