Magna Gold Corp. is pleased to announce that, further to its news release dated May 6, 2020 and in satisfaction of the requirements of the TSX Venture Exchange, it has filed an independent technical report entitled “NI 43-101F1 Technical Report for the San Francisco Gold Project, Sonora, Mexico” and dated June 1, 2020.
First Mexican Gold Corp. is pleased to announce that it has granted an aggregate of 2,500,000 options to purchase common shares of the Company, exercisable at a price of $0.24 per share for a period of five years from the date of grant, to certain directors, officers and consultants of the Company.
Goldgroup Mining Inc. is pleased to announce that it has signed an indicative term sheet in respect of a secured loan facility with Accendo Banco S.A., Multiple Banking Institution in the amount of USD$3,000,000.
Metalla Royalty & Streaming Ltd. and Coeur Mining, Inc. announce that they have entered into a bid letter with a syndicate of underwriters led by PI Financial Corp., Haywood Securities Inc. and Cantor Fitzgerald Canada Corporation pursuant to which the Underwriters have agreed to buy on a “bought deal” basis 2,400,000 common shares of Metalla currently held by Coeur at a price of US$5.30 per Common Share for gross proceeds to Coeur of approximately US$12.72 million.
Southern Silver Exploration Corp. announces that in conjunction with the previously announced Transaction to acquire an additional 60% indirect working interest (for a 100% indirect ownership) in the Company’s flagship Cerro Las Minitas project, it plans to issue a minimum of 35,000,000 subscription receipts of the Company in a fully marketed private placement at a price of C$0.20 for gross proceeds of a minimum of C$7,000,000.
Lawrence Page, Q.C., Southern Silver’s Chairman and Director, stated: “Upon completion of the transaction the benefits to Southern Silvers shareholders and investors will be significant. Sole ownership of the Project inclusive of the significant resources developed to date allows us great latitude in developing the Project for substantial resource growth. The transaction will also provide a 150% increase in attributable resources which will be highly accretive to Southern Silver shareholders.”
Golden Goliath Resources Ltd. is very pleased to announce that the initial till sampling and geology portion of the current field exploration program on its Kwai property located in the Red Lake mining district has been completed. The Induced polarization geophysical survey is still in progress.
As a result of the Warrant Exercise, Electrum owns 51,759,593 Common Shares and Warrants exercisable for 11,000,000 Common Shares, representing 36.64% of the issued and outstanding Common Shares or 41.22% upon exercise of the Warrants.
“Under Jonathan’s leadership, the foundation was laid for the Company to make the transition into production,” said Peter Barnes. “I look forward to serving as MAG’s new Board Chair, as the Company becomes a significant silver producer.”
GR Silver Mining President and CEO, Marcio Fonseca, commented, “We continue to systematically review the extensive un-released historical and recent drill hole database at the Plomosas Silver Project. The review confirms the presence of high-grade Au-Ag zones, which were not previously explored and evaluated by previous owners, nor integrated into a resource estimation. Most of the new mineralized veins are accessible through existing underground development, which facilitates planning of additional underground drilling and provides opportunities for new discoveries.”
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