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Perth, Australia (ABN Newswire) – Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced that data processing of the recently completed high-resolution helicopter-borne magnetic and radiometric survey across the Mojave Project has been finalised.

HIGHLIGHTS

– High-resolution heli-magnetic and radiometric survey has identified a pronounced Thorium anomaly in the North Block claims, a key indicator for potential Rare Earth Element (REE) mineralisation

– The new anomalies are located in the same geological district as the Mountain Pass Rare Earth Mine, the only operating REE mine in the U.S., which is also defined by a strong Thorium signature

– A second Thorium anomaly has been delineated trending parallel and 700m east of the high-grade El Campo Prospect, providing potential for parallel mineralisation

– High-resolution magnetics (40m line spacing) have revealed complex faulting and distinct magnetic domains, providing a detailed structural map to guide target generation

– Immediate field validation is underway, with mapping and sampling to groundtruth these new targets

The survey, flown at a low altitude of 35 metres with tight 40-metre line spacing, has delivered a step-change in data quality compared to historical regional data. This precision has allowed the Company to identify discrete, high-priority targets for further investigation.

Radiometric Data and REE Targeting

The radiometric data have identified a pronounced Thorium anomaly in the northeast extents of the Mojave Project North Block claims (Figure 1*), with a notable weathering feature which correlates with the regional drainage. In addition, a second new Thorium anomaly has been delineated which trends parallel and 700m east of the El Campo Prospect (which also has an elevated Thorium anomaly). Notably, the northern Thorium anomaly coincides with a broad zone of diffuse magnetic response, which may be indicative of alteration or lithology.

Technical Note on Radiometrics: It is important to note that a radiometric sensor detects gamma rays emitted during the decay of radioactive isotopes, each with a specific and unique signature.

– Shallow Detection: The signals are derived from the upper 20-30 centimetres of the Earth’s surface, reflecting shallow lithological compositions rather than deeper stratigraphy

– Surface Expression: Such anomalies may represent surface expressions of alteration, leached zones, or weathered outcrops that could be spatially related to REE mineralisation

– Blind Deposits: For this reason, blind deposits will not be directly detected, and even small surface expressions and anomalies warrant field investigation to ascertain if they are associated with a larger surface alteration or REE mineralisation which could represent the tip of a larger buried target

Additional more discrete anomalies are also evident in the data, and the Company continues to assess and rank these secondary targets.

The newly identified Thorium anomalies are considered significant given their proximity to the Mountain Pass mine rare earth element deposit, located to the west, which is spatially associated with a large Thorium anomaly. It is important to note that the large anomalyevident at Mountain Pass is due to the mining activity which has occurred and distributed the mined rock across the active mine area. The pre-mining anomaly would likely have been much more discrete.

Magnetic Interpretation and Targeting

The newly acquired magnetic data has significantly increased the resolution which in turn has advanced the Company’s geological interpretation. The new magnetic data (Figure 2*) is currently being interpreted and to date has delineated multiple orientations of complex faulting, along with distinct magnetic domains, providing valuable insights into the structural framework, potential zones of alteration, and unmapped lithologies. Structural interpretation and field mapping is underway to support the preliminary interpretations.

A key benefit of the magnetic data is to provide information to support the detailed structural framework which is being developed. The magnetic data does not directly detect primary mineralisation being targeted by the Company but does highlight the structures which act as conduits or pathways for mineralisation. Combined with surface mapping, rock chip sampling and stream sediment sampling, the data will support additional target identification for future drill testing.

Kerrie Matthews, Managing Director & CEO, commented:

‘The results from this high-resolution geophysical survey are a game-changer for our targeting at Mojave. Moving from broad legacy geophysical data to this level of detail is like turning on the lights in a dark room. We can now see clearly defined structural corridors and Thorium anomalies that look geologically similar to the systems, known in the district.

The identification of a potential parallel system near El Campo is particularly exciting and will be a priority for our field teams.’

Next Steps:

Structural interpretation is ongoing, with field teams currently deployed to verify these new anomalies. This ground truthing involving mapping and rock chip sampling is the first step ahead of defining new drill targets for 2026.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/86CRH1E5

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

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Sun Summit Minerals Corp. (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) (‘Sun Summit’ or the ‘Company’) is pleased to announce a non-brokered private placement (the ‘Private Placement’) of up to 50,000,000 charity flow-through shares of the Company (each, a ‘Charity FT Share’) at a price of $0.14 per Charity FT Share for aggregate gross proceeds to the Company of up to $7 million. Each Charity FT Share will qualify as a flowthrough share within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act’).

The Company intends to use all of the gross proceeds of the Private Placement for exploration of the Company’s JD, Theory and Buck properties and any other Canadian properties that the Company may acquire, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares to incur eligible ‘Canadian exploration expenses’ that will qualify as ‘flowthrough mining expenditures’ as such terms are defined in the Tax Act.

‘This capital will fully fund our 2026 exploration program and help accelerate our progress towards an initial mineral resource estimate at JD. The calibre of investors who have agreed to participate in this offering provides additional validation for the quality of the JD Project,’ said Niel Marotta, CEO of Sun Summit.

The closing of the Private Placement is subject to certain closing conditions, including the approval of the TSX Venture Exchange (the ‘TSXV‘). The Company may pay finder’s fees in cash or securities to certain arm’s length finders (each, a ‘Finder‘) engaged in connection with the Private Placement, subject to the approval of the TSXV. Eventus Capital Corp. has been appointed as a Finder in connection with the Private Placement. The Charity FT Shares issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws.

The Charity FT Shares offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Charity FT Shares in any State in which such offer, solicitation or sale would be unlawful.

About Sun Summit

Sun Summit Minerals (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) is a mineral exploration company focused on the discovery and advancement of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD and Theory Projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as ‘anticipate’, ‘will’, ‘expect’, ‘may’, ‘continue’, ‘could’, ‘estimate’, ‘forecast’, ‘plan’, ‘potential’ and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, the use of proceeds of the Private Placement, the tax treatment of the Charity FT Shares, the terms and completion of the Private Placement, the payment of finder’s fees and obtaining regulatory approval, including approval of the TSXV, for the Private Placement, the sufficiency of the gross proceeds of the Private Placement to fully fund the Sun Summit’s 2026 exploration plans, and to accelerate its progress towards an initial mineral resource estimate at the JD Property. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: the state of the equity financing markets in Canada and other jurisdictions; the receipt of regulatory approval; volatility and sensitivity to market prices; changes in tax legislation; fluctuations in metal prices; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277484

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(TheNewswire)

Further to Pinnacle news release of February 24, 2025 , a Finder’s Fee of 4% of the measurable benefit of each installment payment will be paid to Juan Jose Camacho, who is arm’s length to the issuer and the vendor, corresponding to the payment schedule outlined in the Definitive Agreement (the ‘DA’ ), in accordance with TSXV Policy 5.1.  In total, the Exchange has conditionally approved the issuance of 191,580 Finder’s Fee shares.  Up to US$298,000 in total cash payments may also be made to the Finder according to the following schedule and conditions.

The initial Finder’s Fee installment was made on February 24, 2025 and comprised 71,580 shares at a deemed value of $0.05.  A second share issuance of 40,000 shares, at a deemed value of $0.11, and cash payment of US$8,000 will now be made.  A third installment, comprising 40,000 shares and US$30,000, will be due on February 24, 2026. Assuming the option agreement continues, US$40,000 will be payable when the plant is sufficiently upgraded and all permits received in order to commence production, or 4 years from signing the DA, whatever happens first; US$60,000 one year after commencing production or 5 years from signing the DA, whatever happens first; and US$120,000 two years after commencing production or 7 years from signing the DA, whatever happens first.  A contingency issuance of 40,000 shares and payment of US$40,000 may be made at an undetermined time, upon Pinnacle establishing a Mineral Resource Estimate, as defined by National Instrument 43-101, of at least 350,000 gold equivalent ounces in the Inferred category or better.

About the Potrero Property

El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).

High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length.  The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential.

A previously operational 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres.

Pinnacle will earn an initial 50% interest immediately upon commencing production.  The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company’s ownership to 100% subject to a 2% NSR.  If successful, this approach would be less dilutive for shareholders than relying on the equity markets to finance the growth of the Company.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on the development of precious metals projects in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.

Signed: ‘Robert A. Archer’

President & CEO

For further information contact :

Email: info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Copyright (c) 2025 TheNewswire – All rights reserved.

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