Alice Queen (AQX:AU) has announced HORN ISLAND MINING LEASE APPLICATION REGISTERED
Download the PDF here.
Alice Queen (AQX:AU) has announced HORN ISLAND MINING LEASE APPLICATION REGISTERED
Download the PDF here.
The world’s top gold producers delivered a string of robust second-quarter results, buoyed by record prices and resilient operations as investors continue to seek refuge in the yellow metal amid growing economic uncertainty.
With spot gold trading above US$3,400 per troy ounce, just shy of its April all-time high of US$3,448.50, the world’s largest gold producers posted higher earnings and stronger cash flow in their recent Q2 results.
Below is a breakdown of how a few major players fared in Q2.
Barrick Mining (TSX:ABX,NYSE:B) formerly Barrick Gold, reported a 97 percent year-on-year jump in net income to US$1.25 billion for the quarter, compared to US$634 million a year earlier.
Earnings per share rose to US$0.47 while operating cash flow in the first half reached US$2.5 billion, up 32 percent from 2024. Free cash flow more than doubled to US$770 million, supported by higher commodity prices.
Gold production climbed 5 percent from the first quarter, while copper output surged 34 percent, led by strong performance at Zambia’s Lumwana mine. Nevada Gold Mines boosted output by 11 percent, while Pueblo Viejo in the Dominican Republic posted a 28 percent increase as expansion work in the site advanced.
“From the ramp-up at Goldrush to the progress at Pueblo Viejo, Lumwana and Reko Diq, not to mention the transformational potential of Fourmile, we’re demonstrating the strength and depth of our portfolio,” president and chief executive Mark Bristow said in the recent Q2 report.
The company also recently agreed to sell its Alturas Project in Chile to a Boroo subsidiary for US$50 million upfront plus a royalty, with proceeds earmarked for funding future ventures
Kinross Gold Corporation (TSX:K,NYSE:KGC) posted record attributable free cash flow of US$646.6 million in the second quarter, alongside operating cash flow of US$992.4 million. Adjusted net earnings jumped to US$541 million from US$174.7 million a year earlier.
Further, the company achieved a 21 percent margin increase from the first quarter, outpacing the 15 percent rise in gold prices over the same period.
“Our portfolio of mines continued to perform well during the quarter contributing to a strong first half of the year and positioning us well to achieve our full-year guidance,” CEO J. Paul Rollinson said.
Kinross said that it expects to produce 2 million gold-equivalent ounces in 2025 at an average production cost of US$1,120 per ounce.
Paracatu in Brazil was the company’s top-producing asset, while Tasiast in Mauritania began mining the Fennec satellite deposit. US-based Bald Mountain also reported higher output at lower costs.
The company also advanced key projects, including its Great Bear exploration program in Ontario, engineering work at Round Mountain Phase X in Nevada, and drilling at the Curlew Basin project in Washington.
Agnico Eagle’s (TSX:AEM,NYSE:AEM) operational consistency and cost control helped drive a six-day share price rally, culminating in a 10.06 percent gain over the past week.
In the second quarter, the company produced 866,029 ounces of gold, maintaining full-year guidance of 3.3 to 3.5 million ounces. Adjusted earnings per share came in at US$1.94, prompting analysts to raise 2025 profit forecasts by US$0.70 to US$6.94.
Analysts cited the company’s steady performance despite rising unit costs, noting its appeal as a defensive play in the sector. Bank of America raised its price target to US$173 due to rising optimism about the firm’s growth prospects.
Newmont (TSX:NGT,NYSE:NEM) posted higher sales and net income for the quarter while authorizing a new share repurchase program and declaring a quarterly dividend.
The miner also renewed a key lease in Ghana. Shares rose 36 percent over the last quarter, outpacing the US Metals and Mining industry’s 24.1 percent return.
The performance came despite a drop in the company’s gold production. Rather, Newmont underscored the role of shareholder returns and strategic asset moves in supporting investor sentiment. Over the past three years, Newmont has delivered a total shareholder return of 63.75 percent.
The sector’s strong quarter unfolded against a favorable macro backdrop.
Gold, which has gained about 30 percent year-to-date, has been buoyed by safe-haven flows. The metal’s latest rally began after spot prices dipped to US$3,311.80 in early August, then climbed back above US$3,418 by the first week of August..
The Federal Reserve cut rates by a full percentage point in late 2024 but has held steady this year, citing the need for more data on how tariffs affect inflation. Lower rates generally enhance gold’s appeal by reducing the opportunity cost of holding non-yielding assets..
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
1911 Gold Corporation (‘ 1911 Gold ‘ or the ‘ Company ‘) (TSXV: AUMB,OTC:AUMBF; OTCQB: AUMBF; FRA: 2KY) is pleased to announce that, subject to TSX Venture Exchange (‘TSXV’) acceptance, it has engaged WIN Expertise Inc. (‘ WIN ‘), operated by Suzette Ramcharan to provide investor relations and corporate communications services (the ‘ Services ‘).
WIN (an Ontario -based company) specializes in investor relations services and will develop and implement an investor relations strategy for 1911 Gold to support the Company’s goals and objectives, targeting a broader and more diversified investor base. The engagement is for an initial period of six months and bears an aggregate fee of $48,000 , to be paid in installments of $6,000 per month for the first three months and $10,000 per month for the following three months. For the first three months, Ms. Ramcharan will spend approximately 20 hours per week providing the Services to the Company, and approximately 40 hours per week thereafter. WIN is also entitled to reimbursement by the Company for its expenses and to an additional fee of $3,000 for each in-person industry event or conference attended by Ms. Ramcharan, at the election of the Company, on behalf of the Company. The Services will commence, and the first monthly payment will be made upon receipt of TSXV acceptance of the Services.
WIN’s engagement as an investor relations and corporate communications services provider may be renewed upon completion of the initial six-month term, following which WIN will be paid a monthly fee of $10,000 for approximately 40 hours per week dedicated to providing the Services. All fees and expenses will be paid from the working capital of the Company. WIN and Ms. Ramcharan are arm’s-length parties to the Company. Neither WIN nor Ms. Ramcharan have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario . It intends to focus on organic growth and accretive acquisition opportunities in North America .
1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation and all local stakeholders in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
www.1911gold.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.
All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the expected term of the Services to be provided, the total compensation expected to be paid for the Services, the results to the Company and its shareholders of the Services, the timing and ability of the Company to receive necessary regulatory approvals for the Services, the results of any exploration or other work on the Company’s properties, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither 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.
SOURCE 1911 Gold Corporation
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TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
Blue Sky Uranium Corp. (TSXV: BSK,OTC:BKUCF) (FSE: MAL2) (OTC: BKUCF) (‘Blue Sky’ or the ‘Company’) announces that it has closed final tranche of the private placement through the issuance of 1,851,000 units of the Company (each, a ‘ Unit ‘) at a price of $0.06 per Unit for aggregate gross proceeds of $111,060 (the ‘ Offering ‘). In total, the Company has issued 29,212,633 Units for aggregate gross proceeds of $1,752,758 .
Each Unit consists of one common share and one transferrable common share purchase warrant (a ‘ Warrant ‘). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.075 per share for three (3) years from the date of issue, expiring August 16, 2028 for this final tranche.
The Company intends to use the proceeds of the Offering for general working capital.
Finder’s fees of $714 are payable in cash on a portion of the Offering from this tranche to parties at arm’s length to the Company. In addition, 11,900 non-transferable finder’s warrants are being issued for this tranche (the ‘ Finder’s Warrants ‘). Each Finder’s Warrant entitles a finder to purchase one common share at a price of $0.06 per share for three (3) years from the date of issue, expiring on August 16, 2028 . In total, the Company paid cash finder’s fees of $4,822.86 and issued 80,381 Finder’s Warrants for this Offering.
Certain insiders of the Company participated in this tranche of the Offering for $21,000 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company’s market capitalization. In total, insiders participated in the Offering for $117,000 in Units.
This Offering is subject to regulatory approval and all securities to be issued pursuant to the Offering in this 3 rd and final tranche are subject to a four-month hold period under applicable Canadian securities laws expiring on December 16, 2025 . The proceeds of the Offering will be used for general working capital.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘ 1933 Act ‘) or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the 1933 Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina . The Company’s objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky’s flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company’s recently optioned Corcovo project has potential to host an in-situ recovery (‘ ISR ‘) uranium deposit. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
‘Nikolaos Cacos’
______________________________________
Nikolaos Cacos , President, CEO and Director
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.
SOURCE Blue Sky Uranium Corp.
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The 2025-26 Premier League season is set to kick off, with some of the world’s biggest teams vying to win what is generally regarded as the strongest domestic soccer league on the planet.
Liverpool ended up comfortably claiming last season’s title, finishing the campaign with a 10-point edge on Arsenal. The Reds have not rested on their laurels this summer, spending big to add Florian Wirtz and Hugo Ekitiké to an offense that scored 14 more goals than any other Premier League team last season.
That said, Mohamed Salah and Co. can expect a tougher campaign this time. Arsenal let themselves down in the season’s final third, throwing away points on several occasions, while Manchester City expects much more once Rodri — their irreplaceable midfielder who missed nearly all of the last season due to a torn ACL — makes his return to full fitness.
Club World Cup champions Chelsea should also be a more consistently formidable force this season, while teams like Manchester United and Tottenham Hotspur aim for better performances after some recent struggles.
Here are championship odds for the 2025-26 Premier League season:
Odds via BetMGM on Thursday, Aug. 14:
The entire Premier League schedule during the 2025-26 season will be available on the NBC family of networks.
While the exact broadcast schedule for the full season has not been settled, NBC will generally broadcast at least one game per weekend, while USA Network will usually carry two or more. The majority of the action throughout the season will be streamed on Peacock.
Watch the 2025-26 Premier League season on Peacock
With new TV partners for the NBA, massive intrigue in the stacked Western conference and a wide-open Eastern conference, the league is cannonballing into the 2025-26 season.
Starting with opening night on NBC on Oct. 21, followed by two nights of games on ESPN and then a Friday night on Amazon Prime, marquee players, fascinating matchups and championship contenders will be featured on the NBA’s national TV schedule, which was released Thursday, Aug. 14.
NBC rejoins coverage of the league after a two-decade absence, and Amazon Prime gets its first shot at NBA games as part of the NBA’s new, 11-year, $76 billion TV deal. ESPN/ABC remains part of the league’s coverage as well.
Here are unique details of the NBA’s 2025-26 schedule:
This season, there are 247 national TV games, up from 172 in 2024-25.
As part of the new TV deal, in general, Monday NBA games are on Peacock; Tuesday on NBC; Wednesday on ESPN; Thursday on Prime Video; Friday on Prime Video and ESPN; Saturday on Prime Video in the afternoon and ABC at night; and Sunday on ABC in the afternoon and NBC at night.
ESPN and ABC also have the five Christmas games plus the NBA Finals.
Prime Video will feature doubleheaders on Fridays and stream the quarterfinals, semifinals and final of the NBA Cup and all six play-in games.
NBC and Peacock kick off the season with two games on Oct. 21 and will air the four Martin Luther King Jr. Day games. NBC and Peacock are also home to NBA All-Star Weekend events, including All-Star Saturday night and the All-Star Game on Feb. 15.
The NBA will play games on Election Day, Novermber 4, this season – which it did not do in 2022, 2023 and 2024.
Each team has at least two national TV games with the defending champion Oklahoma City Thunder, Los Angeles Lakers, New York Knicks and Golden State Warriors appearing on 34 national TV games.
The average number of back-to-back games for each team is 14.4, a tad down from 14.9 back-to-backs per team in 2024-25. No team has more than 16 back-to-backs, and a team will play never play the day before games during opening-week national TV games; all Emirates NBA Cup games; all Christmas games; the four-game Peacock/NBC schedule on Martin Luther King Jr. Day; the 10-game ABC Saturday schedule and eight-game ABC Sunday schedule; and the 11-game NBC Sunday schedule.
The NBA plans to launch a digital feature that will make it easier for fans to watch and stream games through NBA.com, the NBA app, team platforms and partner sites.
Offseason moves once again altered the NBA landscape. Here are a few notable players who will visit their former team for the first time in 2025-26:
The 1,230-game schedule from Oct. 21 through April 12 is loaded with quality games. We take a look at the 25 games you can’t miss, including Houston at Oklahoma City on opening night and the Los Angeles Lakers at Golden State in the final week of the regular season. Click here to read the full analysis of must-see games.
The 2025-26 Premier League season kicks off this weekend and will run through matchweek 38 on May 24.
The season opens with the defending league champions Liverpool hosting AFC Bournemouth at Anfield in what should be an emotional evening after the death of Diogo Jota in July.
During the second weekend of fixtures, Everton will christen a new stadium against Brighton & Hove Albion on Sunday, Aug. 24. The team is leaving its home for more than 100 years — Goodison Park — for a new and modern stadium — Hill Dickinson Stadium.
Here is the full, 380-match fixture list for the 2025-26 Premier League season:
Behind every tattoo is a story – and Damar Hamlin’s is a doozy.
The Buffalo Bills safety is showing off some new ink ahead of the 2025 NFL season, which will be his second since suffering cardiac arrest on the field in Cincinnati.
His new art, created by famed tattoo artist Ganga, which covers Hamlin’s entire back, works to convey everything about the happenings on the field from that January day.
When Hamlin woke up following the near-fatal incident, he famously asked, ‘Did we win?’
Those words are featured prominently on Hamlin’s back, surrounded by a ‘Monday Night Football’ logo along with words of encouragement and a ‘Pray for Damar’ flag. Ganga also added a Paycor Stadium element to the entire display, which was famously the site of Hamlin’s cardiac arrest.
Coupled with plenty of No. 3’s, the tattoo managed to accomplish just about every element of the incident.
Hamlin’s heart stopped after making a tackle against the Cincinnati Bengals on ‘Monday Night Football’ on Jan. 2, 2023. He briefly got up and then fell to the ground, prompting a rush of medical personnel onto the field. After providing CPR, Hamlin was loaded onto a stretcher and into an ambulance.
The game was suspended and postponed.
In the meantime, Hamlin spent time on a ventilator before being able to talk to his family and breathe on his own on Jan. 6.
It was an unforgettable moment in NFL history, one that Hamlin would never forget, especially. Now he has the entire story on his back.
We’re nearly to Week 2 of the NFL preseason and teams now have one game of film in addition to what they’re seeing in practice to assess roster strengths and weaknesses.
The Cleveland Browns may have decided to add another player to the wide receiver room.
Former Texas wide receiver Isaiah Bond announced on X that he is signing with the Browns. The Longhorns standout went undrafted in the 2025 NFL Draft and is a mid-training camp addition for Cleveland.
‘I want to express my deepest gratitude to the Cleveland Browns for believing in me and allowing me the opportunity to continue my career in the NFL,’ Bond wrote in his post. ‘Football has been my passion since I was six years old, and plying at this level is a blessing I will never take for granted.’
Bond was expected to be a Day 2 pick in the NFL Draft even after a subpar performance at the NFL scouting combine. But Bond turned himself in to the Frisco Police Department for an outstanding warrant for sexual assault in April.
Bond stated in his post that the prosecutor has decided not to pursue charges.
‘I will learn from this experience as I grow in wisdom, character, and faith,’ Bond wrote. ‘On the advice of my attorney, I will not discuss the details of this case, but I want to be clear: from the very beginning I have refuted these allegations and maintained my innocence. I stand firm by that today.’
The deal has not been finalized yet, per ESPN’s Adam Schefter.
Bond played in 13 games as a true freshman for Alabama in 2022. He led the team in receptions a year later with 48 for 668 yards and four touchdowns.
Bond transferred from Alabama to Texas for his final year of college football in 2024. As a Longhorn, he struggled to build rapport with starter Quinn Ewers and had just 34 receptions for 540 yards and five touchdowns. Fellow transfer Matthew Golden became the top receiver down the stretch for the Longhorns and ended up as a first-round pick in the 2025 NFL Draft to the Green Bay Packers.
Despite the drop in production, Bond was viewed as a probable draft pick given his game speed. The off-field allegations kept him from being selected.
Here’s how things look ahead of Bond’s potential arrival:
GMV Minerals Inc. (the ‘Company’ or ‘GMV’) (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce positive results from the updated Preliminary Economic Assessment (‘PEA’) study of the Mexican Hat Gold Project (the ‘Mexican Hat Project’), located in Cochise County, southeastern Arizona.
A National Instrument 43-101 –Standards of Disclosure for Mineral Projects (‘NI 43-101’) compliant technical report (the ‘Report’) entitled ‘Updated NI 43-101 Technical Report Preliminary Economic Assessment, Mexican Hat Project’ with an effective date of August 8, 2025 will be filed on SEDAR+ at www.sedarplus.ca under the Company’s profile within 45 days of this news release. All amounts are stated in second quarter 2025 US dollars (US$).
The Mexican Hat hosts a shallow oxide gold resource with excellent metallurgy and high recoveries, supported by a low strip ratio and minimal pre-stripping. Infrastructure is in place and the Mexican Hat Project demonstrates a robust NPV and IRR. With fast leach kinetics and low reagent consumption, the Company believes the Mexican Hat Project offers exceptional potential economics.
Highlights:
FINANCIAL INDICATORS
The following table summarizes the financial indicators for the Mexican Hat Project for both before and after taxes.
Financial Indicators Before Taxes |
Values |
NPV cash flow (undiscounted) |
US$537.7M |
NPV @ 5% |
US$390.2M |
IRR % |
66.1% |
Payback (years) |
1.53 |
Financial Indicators After Taxes |
Values |
NPV cash flow (undiscounted) |
US$377.9M |
NPV @ 5% |
US$268.3M |
IRR % |
50.2% |
Payback (years) |
1.82 |
GOLD PRICE SENSITIVITY TABLE (US$ MILLIONS)
The following table summarizes the pre-tax and post-tax economic results to gold price sensitivity.
Pre-Tax and Post-Tax Sensitivity to Gold Price
-60% |
-45% |
-30% |
-15% |
Base |
+15% |
+34% |
+45% |
+60% |
|
US$/troy oz Gold |
1,000 |
1,375 |
1,750 |
2,125 |
2,500 |
2,875 |
3,350 |
3,625 |
4,000 |
IRR (Pre-Tax) |
18.3% |
45.0% |
66.1% |
85.0% |
106.8% |
118.7% |
134.2% |
||
NPV @ 5% (Pre-Tax) US$M |
-274.7 |
-108.5 |
57.7 |
224.0 |
390.2 |
556.4 |
767.0 |
888.9 |
1,055.1 |
IRR (Post-Tax) |
11.3% |
33.4% |
50.2% |
65.2% |
82.5% |
91.9% |
104.2% |
||
NPV @ 5% (Post-Tax) US$M |
-274.9 |
-117.3 |
25.8 |
149.3 |
268.3 |
387.4 |
538.1 |
625.4 |
744.4 |
INITIAL CAPITAL EXPENDITURES (US$ MILLIONS)
Initial capital expenditures are estimated at US$89,997,000 million as detailed below:
OPERATING COSTS
The mine operating costs were calculated to average $3.49 per tonne mined as summarized below.
Mine Operating Cost Center |
Unit Cost (US$/t mined) |
Owner Mining Personnel |
$0.11 |
Owner Supplies & Misc. |
0.03 |
Contractor Mining |
3.35 |
Total Cost (Rounded) |
$3.49 |
The life-of-mine operating costs were calculated to average US$20.44/tonne resource processed as summarized below.
Operating Cost |
Cost per Tonne of Crushed Material Processed (US$/t) |
Mining |
$10.60 |
Processing |
$8.79 |
G&A |
$1.05 |
Total Site Operating Cost |
$20.44 |
MINERAL RESOURCES
An updated Mineral Resource Estimate prepared by DRW Geological Consultants Ltd., with an effective date of August 8, 2025, was used in the PEA. Details of the Mineral Resource Estimate can be found in the Report to be filed on SEDAR+ within 45 days of this release.
Category |
Cut-off (g/t Au) |
Grade (Au, g/t) |
Tonnes |
Gold Oz |
Strip Ratio |
Inferred |
0.20 |
0.58 |
36,733,000 |
688,000 |
2.36 |
MINE PLAN
The mine plan is conceived as a conventional open pit tuck and shovel/loader operation. There are two independent pits which are developed with five-phase or pushback designs. Pit shells were designed using 6.0-meter benches with a catch bench installed every 18 meters. A bench face angle of 66° was used, resulting in an inner-ramp angle of 45° when catch benches were included. An 88% overall gold recovery has been used in this study, which was based on bottle roll and column leach test results. Base case haulage ramps are 26 meters wide and have a design gradient of 10%. Processing rates are based on a daily crushing rate of approximately 10,000 tonnes per day utilizing two stage crushing
The mine and crushing will be operated by contractors with oversight by GMV mine management. The mine plan produces a nominal tonnage to the crushing and heap leach of 3,500 Ktonnes per year (10,000 tpd) from a total material movement of 93.8 Ktonnes for the life of mine (26,106 tpd LOM average).
The PEA is preliminary in nature; it includes inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. There is no Mineral Reserve at the Mexican Hat Project at this time. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Over the course of the mine life, 38.6 Mtonnes of Mineralized Resource is planned for processing out of a total material movement of 117.8 Mtonnes.
INFRASTRUCTURE & PROCESS PLANT
The Mexican Hat Project is located in the southeastern part of the State of Arizona, approximately 72 miles east-southeast of Tucson, and can be accessed from the Old Ghost Town Road., a gravel road extending south of the Town of Pearce or north from Gleeson Road.
Groundwater will be used as the source of water for mining operations. No permitting restrictions or quantity issues are anticipated.
A 69 kV powerline to site will be supplied by Sulphur Springs Valley Electric Cooperative from their power plant located 30 km north of the project site.
The crushing plant will be operated by a contractor to produce a crushed product for heap leaching with a 25 mm top size. Pregnant solution from the heap leach will be processed in a conventional adsorption desorption recovery (ADR) plant. The process plant will produce doré gold bars.
TECHNICAL REPORT AND QUALIFIED PERSONS
The Report entitled Updated Preliminary Economic Assessment, Mexican Hat Project’, with an effective date of August 8, 2025 and which was prepared by the following Qualified Persons (as defined under NI 43-101), all of whom are independent of the Company, will be filed by the Company within 45 days of this release on www.sedarplus.com:
All Qualified Persons have contributed to their corresponding sections in Interpretation, and Recommendations. The Qualified Persons have reviewed and approved the scientific, technical, and economic information obtained in this news release.
For a description of the data verification process and limitations, underlying assumptions and the results of surveys and quality assurance program regarding exploration information, please refer to the Company’s existing NI 43-101 Technical Report filed on SEDAR+ entitled ‘Preliminary Economic Assessment, Mexican Hat Project’ with an effective date of October 20, 2020.
Ian Klassen, President & CEO remarked that ‘The robust PEA confirms our contention that the project’s strong economic potential de-risks the development pathway, providing a solid foundation for advancement. The results validate the open-pit, heap-leach concept, demonstrate excellent metallurgy and recoveries, and outline a simple mining and processing strategy. With high margins, rapid payback, and straightforward engineering, the PEA positions the project well for the future, where detailed design, capital optimization, and permitting can advance with confidence.’
2025-2026 Forward Looking Plan
The Mexican Hat Project PEA economics justify continued investment in project development. The forward-looking plan for Mexican Hat includes work required to advance the project through Feasibility Study and into the permitting process.
These tasks include:
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Project, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980’s to early 1990’s. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production.
PEA Information and Cautionary Note Regarding Inferred Mineral Resources
The mine plan evaluated in the PEA is preliminary in nature and includes Inferred Mineral Resources, as defined by NI 43-101 that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be converted to Mineral Reserves. Additional drilling and technical studies will need to be completed in order to fully assess its viability. There is no certainty that a production decision will be made to develop the Mexican Hat Project or that the economic results described in the PEA will be realized. Mine design and mining schedules, metallurgical flow sheets and process plant designs will require additional detailed work and economic analysis and internal studies to ensure satisfactory operational conditions and decisions regarding future targeted production.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this report, such as ‘measured,’ ‘indicated,’ ‘inferred,’ and ‘resources,’ that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain ‘forward-looking information’ under applicable Canadian securities legislation. Forward-looking information 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 information may be identified by such terms as ‘believes’, ‘anticipates’, ‘expects’, ‘estimates’, ‘may’, ‘could’, ‘would’, ‘will’, or ‘plan’. Forward-looking information contained in this news release include, but are not limited to, statements or information with respect to: the results of the PEA, including the IRR and NPV, life of mine and production, capital and operating expenditures, cost estimates; permitting restrictions, and the mine plan, including infrastructure requirements and future plans; the filing of the PEA, including timing thereof, mineral resources; and future gold prices. Since forward-looking information 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. Assumptions upon which forward-looking information contained in this news release is based, without limitation, include: results of future exploration; gold prices; accuracy of the results of the PEA, including key assumptions and methods used to determine mineral resources and the results of the PEA; the ability to obtain required permits and approvals; the ability to execute future plans; exchange rates; ability to obtain funding; and changes in regulatory or community environment; Risks, and uncertainties include: results of further exploration; risks related to mineral tenure, permits and approvals; risks related to the execution of future plans; changes in gold price and exchange rates; risks related to obtaining financing; foreign country risks; regulatory risks and liabilities; and those risks and uncertainties as further described in the Company’s filings with Canadian securities regulators which can be found on SEDAR+ at www.sedarplus.ca under the Company’s profile. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. 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.
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. is the Q.P. responsible for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
For further information please contact:
GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: info@gmvminerals.com
Neither 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.
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