Category: Investor’s Corner

Mammoth Resources Corp. would like to take this opportunity to remind shareholders of the granting of a Management Cease Trade Order (“MCTO”) previously announced on June 2, 2016, such MCTO being a result of the Company having exceeded the timing for filing its year-end audited financial statements and accompanying Management Discussion and Analysis, such default of which were due to have been completed and filed on May 30, 2016 for the Company’s fiscal year end dated January 31, 2016 and that the Company continues to work on completing these statements and as a result is continuing to adhere to the MCTO. It is expected that the Company will continue to advise shareholders and regulators of the status of the default, via press releases, on a bi-weekly basis until such time as this default is rectified. As previously announced, it is anticipated that the Company will complete the year-end audit before the end of July 2016.

Excellon Resources Inc. is pleased to announce the appointment of Denis Flood, P. Eng., as Vice President Technical Services. Mr. Flood will lead the Company’s project assessment efforts, as well as overseeing ongoing opportunities to improve technical efficiencies throughout the Company’s existing operations.

The reorganisation of the company’s corporate structure will involve setting up a new company in England called Bacanora Lithium PLC, which will then acquire the existing company and become the parent organisation. Bacanora originally unveiled plans to re-domicile its corporate jurisdiction to the UK last month, arguing the move from Canada would deliver significant cost savings and better suit the senior management team which is primarily based in the UK. The move also reflects “the success of the company’s AIM listing and the positive reception from UK investors”.

Mark Brennan, President and Chief Executive Officer, stated: “We are pleased to announce the promotion of Mike McAllister to the position of Vice President of Corporate Development. We expect that this appointment will further enhance the high-quality marketing, investor relations and communication program that have been created at Sierra Metals.”

Pete Dougherty, President and CEO, stated: “We discovered more areas with economic mineralization than expected at both operations. However, as the areas are lower grade, it delayed mining of higher grade areas and resulted in lower production for the second quarter. We anticipate getting into the higher grade areas during the second half of the year which, coupled with production improvements, should improve output. Therefore, we are guiding to the low end of the full year production. While second quarter production was lower than anticipated, as we look to the future, these low grade gains have good potential to extend the life of both mines.”

The Company has issued 37,975,000 units pursuant to the Offering at a price of C$0.40 per Unit for total gross proceeds of C$15,190,000. The Offering included 4,875,000 Units issued pursuant to the Agents’ exercise in full of their option to purchase additional Units. Each Unit consisted of one common share and one-half of one transferable common share purchase warrant. Each Warrant entitles the holder to acquire one common share at a price per Warrant Share of C$0.55 for a period of 30 months from closing.

The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes and exploration of the Sierra Mojada Project. The Company has agreed to pay an aggregate cash commission of CDN$30,060, in addition to an aggregate of 200,400 non-transferable common share purchase warrants to a broker, subject to final approval of the TSX. Each Placement Agent’s Warrant entitles the holder thereof to acquire one Common Share until the date that is two years following closing of the Private Placement at the greater of CDN$0.15 and the five-day volume-weighted average price preceding notice of the Private Placement to the TSX and is subject to the acceleration provision noted above.

Paul Benson, President and CEO said, “In the second quarter we completed the acquisition of Claude Resources, adding the Seabee Gold Operation to our portfolio in a robust precious metals environment and establishing Silver Standard as a high-quality intermediate precious metals producer. At Seabee, we are focused on successful integration and working with the team to identify operational excellence and growth opportunities at the mine.”

Silver Spruce Resources Inc. announces a non brokered private placement to sell up to 7,692,308 units in the capital of the Company at a price of $ 0.065 cents per Unit for total proceeds of up to CDN $500,000. Each unit will consist of one common share in the capital of Silver Spruce and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Silver Spruce for ten cents at any time prior to the date which is twenty four months from a particular Closing Date, at which time the Warrants will expire. All units acquired pursuant to the private placement, and shares which may be acquired upon the exercise of the warrants, are subject to a four month hold period in accordance with applicable securities legislation.

Southern Silver Exploration Corp. would like to clarify it earlier press release dated July 12, 2016 in which it announced that its shares had commenced trading on the OTCQB Marketplace. The Company is in the final stages of submitting all the required documents to upgrade its U.S. listing to the OTCQB Marketplace, and it anticipates that the process will be completed later this week at which time final notice will be given.