Blackrock Gold Signs Option on Silver Cloud Project, Elko, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – Blackrock Gold Corp. (TSXV: BRC) (“Blackrock”) is pleased to announce that it has entered into a lease agreement (the “Lease“) with Pescio Exploration LLC (the “Lessor“) with respect to 552 unpatented lode mining claims situated in Elko, Nevada, and known as the Silver Cloud Project (the “Property“). The Lease affords Blackrock all rights and privileges incidental to ownership, including rights to explore, develop, and mine the Property. The term of the Lease is 10 years from October 27, 2017 and so long thereafter as a) exploration and/or development is taking place on the Property and/or b) the Property is held by Blackrock or it successors and assigns, unless earlier terminated in accordance with the terms of the Lease. The arrangements with respect to the Lease are subject to prior approval by the TSX Venture Exchange (the “Exchange“).

To acquire and maintain the Lease in good standing, Blackrock will be required to: (a) within 5 days of Exchange approval, pay US$50,000 and issue 500,000 common shares of Blackrock to the Lessor at a deemed price of $0.06 per share; (b) on December 20, 2017, pay an additional US$50,000 and issue to the Lessor an additional 500,000 common shares of Blackrock; (c) perform a minimum total of 15,000 feet of drilling on the Property during the first 3 years of the term of the Lease; and (d) make additional payment amounts totaling US$3.65M over the following 8 years, and (e) drilling an additional 90,000 feet from years four to nine.

Blackrock will also pay a royalty of 3.5% of the gross value of production on the sale of minerals from the Property All annual payments made by Blackrock and described above will be credited cumulatively against Blackrock’s commitments pursuant to the Gross Royalty. Furthermore, Blackrock has an option to buy down the Gross Royalty by 1.5% to 2.0% by payment to the Lessor of US$3M at its sole discretion and at any time on or before October 28, 2022.

The Silver Cloud property is a large, 4,537-hectare (11,210acres) claim block, located near the confluence of the Carlin Trend and the Northern Nevada Rift within north-central Nevada, the richest gold mining area in North America. The property is located 8 km (5 miles) west of the Hollister mine of Klondex Mines which has a Measured and Indicated Resource of 0.43Mt @ 16.6g/t gold (for 208,000oz) and an Inferred resource of 0.18Mt @ 14.4g/t gold (for 74,000oz) and is expected to produce 30,000 – 35,000oz of gold in 20171.

Silver Cloud, like both Midas and Hollister are low-sulphidation epithermal Au-Ag banded vein deposits. The property has received only limited previous drilling and has no historic resource.

Commenting on proposed transaction, Interim CEO, Amit Kumar stated, “The Silver Cloud Project provides Blackrock with an expanded portfolio of properties that we can explore and develop. The terms of the Lease agreement afford us some time to review and update the available geological information in order to identify drill targets. Acquiring the Silver Cloud project, located only 8km west of the Hollister mine of Klondex Mines in Nevada, could provide us with a viable alternative to our existing BC properties.”

A finders’ fee involving the issuance of up to 600,000 shares of Blackrock is payable in connection with the transaction. Payment of the finders’ fee is also subject to approval by the Exchange.

____________________

1. Klondex Mines Ltd websites and corporate presentations

About Blackrock

Blackrock is a junior resource exploration company focused on acquiring mineral properties and exploring for economically viable mineral resources. Blackrock has mineral property interests in the Kamloops and Cariboo Mining Districts of British Columbia including the D.D. Property acquired in 2003.

For further information, please contact:

Amit Kumar, Interim Chief Executive Officer
Blackrock Gold Corp.
Phone: 604 317-3848
Email: blackrockgoldcorp@gmail.com

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.

This press release contains forward‑looking statements. All statements, other than statements of historical fact, constitute “forward‑looking statements” and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company’s strategy, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance.

Forward‑looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward‑looking information or statements. Important factors that could cause actual results to differ from these forward‑looking statements include but are not limited to the ability of the Company to attract financing and the general market conditions of the industry in which the Company operates, and the other factors discussed in the sections relating to risk factors discussed in the Company’s continuous disclosure filings on SEDAR.

There can be no assurance that any forward‑looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward‑looking information or statements. Except as required by law, the Company does not intend to revise or update these forward‑looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

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Correction from Source: Silver One Receives Permit to Drill Historic Leach Pads at Its Candelaria Project, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – The following is a corrected news release issued by Silver One Resources Inc. (TSXV: SVE) (OTC Pink: SLVRF) (FSE: BRK1) (“Silver One”) to provide clarity on the historical resource estimate.

Silver One is pleased to announce that it has received permitting from the Bureau of Land Management (“BLM”) to commence drilling of the historic leach pads at its past producing Candelaria silver project in Nevada. Drilling is expected to commence in November 2017.

Greg Crowe, President and CEO of Silver One commented: “With the closing of the previously announced C$4.3 million financing and the receipt of the BLM permit, Silver One is now in a strong position to advance its flagship Candelaria past producing silver project in Nevada. Drill testing of the old leach pads, which have a previously disclosed historic inferred resource (see table below) of over 48 million ounces of silver averaging 1.29 oz/t silver (40 g/t), will be our first priority. Drill samples will be submitted for analytical and metallurgical studies to assess the potential of reprocessing the old leach pads to recover silver in a near-term leaching operation. Silver One will also be exploring the potential for down-dip high grade silver mineralization north of the two past producing open pits and historic resource area, where drill intercepts as high as 670 g/t (21.4 oz/t) over 13.7 metres were encountered. Additionally, numerous old workings that occur along strike from the open pits will be examined to determine the potential of adding new silver resources at Candelaria.” The historical resource estimate was reported by SSR Mining Inc. (formerly, Silver Standard Resources Inc.) in a technical report titled “Candelaria Project Technical Report” dated May 24, 2001 (filed on EDAR on June 20, 2002), prepared by Pincock Allen & Holt. The historical mineral resource estimate used “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”, which are categories set out in NI 43-101. Accordingly, Silver One considers these historical estimates reliable as well as relevant as it represents key targets for exploration work by Silver One. The qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Silver One is not treating this historical estimates as current mineral resources.

Further, the historical resource estimate is set forth in the table below:

Candelaria Project
Historical Resource Estimate
Area/Type Classification Tons Factored Ag Grade
(opt Agtotal)
Sol. Au Grade
(opt Ausoluble)
AqEq Grade
(opt AgEqtotal)
Ag Ounces
(Agtotal)
Aq Equiv. Ounces
(AqEqtotal)
Mount Diablo Measured 3,391,000 4.44 0.004 4.67 15,054,000 15,838,000
Indicated 10,231,185 2.84 0.003 3.01 29,005,000 30,796,000
Subtotal, Measured + Indicated 13,623,000 3.23 0.003 3.42 44,060,000 46,633,000
Mount Diablo Inferred 5,191,000 2.12 0.003 2.30 11,015,000 11,939,000
Northern Belle 9,162,000 2.26 0.002 2.37 20,661,000 21,714,000
Leach Pads 37,328,000 1.29 1.29 48,153,000 48,153,000
L.G. Stockpiles 4,000,000 0.75 0.75 3,000,000 3,000,000
Subtotal. Inferred 55,681,000 1.49 0.002 1.52 82,829,000 84,806,000

 

Notes
1) Lode resources tabulated at a 0.5 opt Agsoluble cutoff grades, with only Agtotal shown in this table.
2) Leach pads and low grade stockpile resources tabulated for entire accumulation of material.
3) Total silver grades factored from soluble silver grades using regression formulas developed by Snowden.
4) Silver equivalent grade includes the contribution from the gold grade (soluble) using an Ag:Au equivalency ratio of 57.8:1.

The data base for the historical resource estimate consists of:

  1. on the Mount Diablo Deposit consisted of 538 drill holes by previous owners and 10 drill holes by Silver Standard Resources Inc. For drill holes that were twinned, the author used the lower of the two values assigned to the original holes. The mineral resource estimate used a kriging estimation method to establish zones with a cut-off grade of 0.5 opt Ag. Ordinary kriging was used to interpolate grades in the block model. The block models were set up with block dimensions of 25 feet by 25 feet in plan and 10 feet in height. The maximum search range used in the higher-grade zone was 235 feet, in the lower grade zone it was 1,000 feet and in the background zone it was 350 feet. Block models more than 300 feet from the nearest composite only constituted 3 percent of the total number of estimated blocks and were assigned to an inferred category,
  2. on the Northern Belle Deposit consisted of 226 drill holes by previous owners, of which a portion of these holes were duplicated for the Mount Diablo Deposit database. The mineral resource estimate used a kriging estimation method to establish zones with a cut-off grade of 0.5 opt Ag. The mineral resource estimate used multiple indicator kriging to interpolate grades in the block model. Block models were set up with block dimensions of 50 feet by 50 feet in plan and 20 feet in height. The maximum search range used in the higher-grade zone was 85 feet, in the intermediate-grade zone was 120 feet and the lower-grade zone was 140 feet and in the lower undifferentiated material below the current pit topography was 260 feet. Block models more than 300 feet from the nearest composite only constituted 3 percent of the total number of estimated blocks and were assigned to an inferred category;
  3. on the Leach Pads consisted of 24,633,000 tons located on Leach Pad 1 and 12,695,000 on Leach Pad 2. The estimate for Leach Pad 1 is based on the fact that silver production indicates 51.5% of total silver was recovered by heap leaching operation, while 81.2% of the soluble silver contact was recovered. Further, the estimate for Leach Pad 2 is based on the fact that silver production indicates 42.4% of total silver was recovered by heap leaching operation, while 71.3% of the soluble silver content was recovered;
  4. on the Low-Grade Stockpile is based on limited and incomplete data and documentation. Material placed on the on the stock piles ranged from 0.5 to 0.65 opt Ag,

To the knowledge of Silver One, there is no new data available since the calculation of the above historical resource estimate and no additional work has been done to upgrade or verify the historical resource estimate.

Candelaria was historically the highest-grade silver producer in the state of Nevada, averaging over 1,250 g/t silver from high-grade vein mining between the mid 1800s and the mid 1900s. Open pit mining operations were undertaken in the 1970s through 1998 by several companies including Nerco and Kinross. Kinross closed the open pit and leach operation in 1998 due to low silver prices. Leaching of the historic pads was not completed leaving a substantial amount of silver unprocessed. It is estimated that the property has produced over 68 million ounces of silver.

Qualified Person

The technical content of this news release has been reviewed and approved by Greg Crowe, P.Geo, President and CEO of Silver One, and a Qualified Person as defined by National Instrument 43-101.

About Silver One

Silver One is a silver focused exploration company that holds an option to acquire a 100% interest in the past producing Candelaria Silver Project, located in Nevada, from SSR Mining Inc. (formerly, Silver Standard Resources Inc.) and a 100% interest in three significant silver assets located in Mexico: Penasco Quemado in the State of Sonora, La Frazada in the State of Nayarit, and Pluton in the State of Durango. The Mexican mining assets were acquired from First Mining Financing, which became a key shareholder resulting from the transaction.

For more information, please contact:
Silver One Resources Inc.
Monica Hamm
VP, Investor Relations
Phone: (604) 974-5274
Email: info@silverone.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Silver One’s control. Such factors include, among other things: risks and uncertainties relating to Silver One’s limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information.

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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China Keli Announces Q1 2018 Results

Quarterly Year-over-Year Revenue up by 52.2% and Reduced Loss of 93.7% Recorded

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – China Keli Electric Co., Ltd. (TSXV: ZKL) (“Keli” or the “Company”) today announced the financial and operating results for the three months ended July 31, 2017.

For the three months ended July 31, 2017 (“Q1 2018”), total revenue was $5,489,677, an increase of 52.2% over Q1 2017 of $3,606,267, caused by the increase in revenue from products sales. Gross profit in Q1 2018 was $1,208,070 representing 22.0% of revenue which increased 75.3% over Q1 2017 of $689,201, which was 19.1% of revenue. Operating expenses were $1,149,350 in Q1 2018, a decrease from $1,233,216 in Q1 2017, caused by the decrease of salary and benefit, entertainment, travelling expenses, office expenses, and research and development expenses. The decreased financing costs of $276,690 in Q1 2018 ($299,298 in Q1 2017) further decreased the total expenses. Although the total expenses decreased, the Company still recorded a net loss of $43,746 in Q1 2018, compared with a net loss of $696,414 in Q1 2017. The significantly reduced loss resulted from the increased revenue and gross profit along with the effective cost control of operating expenses which are expected to be continued. Basic and diluted loss per share (“EPS”) were -0.05 cents in Q1 2018, compared with -0.8 cents in Q1 2017. EBITDA was $507,012 in Q1 2018, a turn around increase from negative $110,566 in Q1 2017. After accounting for an unrealized foreign exchange translation gain of $247,531, the Company reported total comprehensive income of $203,785 in Q1 2018, compared with total comprehensive loss of -$997,461 in Q1 2017. The Company’s unrealized foreign exchange income on translation of the Company’s functional currency to its reporting currency is subject to fluctuations in the exchange rate between the RMB and the Canadian dollar in each reporting period.

As of July 31, 2017, the Company had total cash and cash equivalents of $395,288 compared with $737,145 as of April 30, 2017. Accounts receivable was $12,890,390 as at July 31, 2017, an increase of 11.5% compared with $11,559,177 as at April 30, 2017, which was attributed to the increase in sales of product revenue during the period. The Company’s working capital deficit improved to negative $13,063,412 as at July 31, 2017 from negative $14,171,173 as at April 30, 2017.

The functional currency of the Company and its subsidiaries is Chinese Yuan (also known as “Renminbi” or “RMB”). The financial and operating results of the relevant periods have been translated into Canadian dollars. Depending on the magnitude of changes in foreign currency exchange rates, the impact on the financial and operating results may or may not be material.

Full financial results of the Company for the three months ended July 31, 2017 are available on SEDAR at www.sedar.com.

About China Keli Electric Company Ltd.

China Keli Electric Company Ltd. specializes in the manufacturing and installation of electrical components and equipment, including pre-assembled mini substations, electrical controllers, pressurized and vacuumed switchgears and circuit breakers.

For further information, please contact:

CHINA KELI ELECTRIC COMPANY LTD.

Philip Lo, Chief Financial Officer
Tel. No.: (86) 13632 173732
Email: philip@zkl.cc

For further company information please access our website: www.zkl.cc

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 press release.

This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about Keli’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada. All amounts are stated in Canadian dollars unless noted otherwise.

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IIROC Trade Resumption – EnWave Corporation

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – Trading resumes in:

Company:

EnWave Corporation

TSX-V Symbol:

ENW

Resumption Time (ET):

08:00 November 1, 2017

 

 

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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Millennium Settles Charges of Illegal Short Selling in Advance of Stock Offerings

Washington, D.C.–(Newsfile Corp. – October 31, 2017) – Investment advisory firm Millennium Management LLC has agreed to pay more than $630,000 to settle charges that it shorted U.S. stocks in companies planning follow-on offerings and then illegally bought shares in the follow-on offerings.   

An SEC investigation found that Millennium violated an anti-manipulation provision of the federal securities laws known as Rule 105 on four occasions in 2012.  Rule 105 prohibits short selling an equity security during a restricted period (generally five business days before a covered public offering) and then purchasing that same security through the offering.  By illegally purchasing shares in the follow-on offerings, Millennium reaped $286,889 in illicit profits.

“Millennium established and maintained certain accounts that improperly participated in public offerings despite other firm accounts being short the relevant securities,” said Sanjay Wadhwa, Senior Associate Director of the SEC’s New York Regional Office.  “We will continue to actively surveil for, and charge, violations of Rule 105 where appropriate.”

Millennium must pay disgorgement of $286,889 plus interest of $51,820.11 and a penalty of $300,000 for a total of $638,709.11.  Without admitting or denying the findings in the SEC’s order, Millennium agreed to cease and desist from violating Rule 105 in the future.

The SEC’s investigation was conducted by Nathaniel I. Kolodny, Elizabeth Butler, and Thomas P. Smith Jr.  The case was supervised by Mr. Wadhwa. 

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Cardero Enters into Option Agreements for Kootenay Nickel-Cobalt Massive Sulphide Project

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – Cardero Resource Corp. (TSXV: CDU) (FSE: CR5) (“Cardero” or the “Company”) reports that subject to TSX.V approval, it completed two option agreements for five nickel-cobalt properties in south eastern British Columbia (the “Kootenay Project” or the “Project”) totalling approximately 8,000 hectares (Figure 1). The Project is within the prospective Lardeau Group, which hosts numerous volcanogenic massive sulphide deposits, including the past-producing Goldstream mine located north of Revelstoke.

Project Discovery

The Project includes the Ledgend Property, which has the first documented occurrence of nickel-cobalt bearing massive sulphides in the region. The mineralization was first described in 1998 by the B.C. Geological Survey as outcropping massive pyrrhotite with nickel and cobalt minerals (Plate 1). The geologist noted that the mineralized horizon could be traced over hundreds of meters along strike. In 2016, the underlying owners relocated the discovery outcrop and grab sampling returned values of 0.15 to 0.76% nickel and 0.01 to 0.09% cobalt, as well as up to 0.53% chrome and anomalous copper and zinc.

The acquisition of the Kootenay Project is a culmination of many months of due diligence, project review and sampling in the field. We are confident that we have acquired a nickel-cobalt discovery with significant potential for expansion.” stated Stuart Ross, Cardero’s President & CEO, “We believe that Cardero’s technical expertise and financial capacity can add value to this project, which together with the Zonia Copper-Oxide Deposit in Arizona, forms part of a growing project portfolio.

Exploration Potential

Cardero believes the metavolcanic and metasedimentary units of the southern Lardeau Group to have excellent potential for hosting volcanogenic massive sulphides (VMS) with significant nickel-cobalt (± copper-zinc) content. The other known VMS occurrences in the belt were either discovered in areas of good rock exposure, at high elevations, or by chance during construction of forestry roads. The heavily vegetated low-elevation regions are under-explored, and few previous worker in the area recognized the potential for nickel-cobalt mineralization. Past exploration has focussed on lead-zinc- silver replacement and silver-gold vein deposits.

The 8,000 hectares of claims within the Lardeau Group cover the most prospective of the anomalous nickel-cobalt regional silt anomalies produced by the regional sampling programmes of the B.C. Ministry of Mines. Three of the properties (Nico, Spine and Tesla) cover the more prospective nickel-cobalt results reported incidentally by Mineral Mountain Resources in 2012, during their regional exploration for silver-zinc-gold mineralization. The extensive property package allows Cardero to manage a pipeline of results, with Ledgend being the most advanced, and Lardeau being the most grassroots. More details on each project are available at www.cardero.com.

Details of Option Terms

The first option agreement applies to four properties being Ledgend, Enerplus-Tesla, Nico, and Spine (2,647 hectares) being optioned from the underlying owners who are at arms-length to the company. Cardero has been granted the exclusive option to acquire a 100% interest in the four properties by paying an aggregate of $895,000 in cash and issuing an aggregate of 3,000,000 common shares over a four year term are as follows:

Date Cash to Optionors Cardero Shares
On the Effective Date (October 25, 2017) $25,000 0
On the Closing Date $0 200,000
Year 1 Anniversary $75,000 400,000
Year 2 Anniversary $170,000 600,000
Year 3 Anniversary $225,000 800,000
Year 4 Anniversary $400,000 1,000,000
Total $895,000 3,000,000

 

The second option agreement applies to the Lardeau project (1,728 hectares). The underlying owner is Wealth Minerals Ltd, a corporation which is not at arm’s length to the Company. Cardero has been granted the exclusive option to acquire a 100% interest in the Lardeau project by issuing an aggregate of 1,400,000 common shares over a four year term are as follows:

Date Cardero Shares
Closing 200,000
Year 1 Anniversary 300,000
Year 2 Anniversary 300,000
Year 3 Anniversary 300,000
Year 4 Anniversary 300,000
Total 1,400,000

 

All of the claims are subject to a 2% net smelter returns royalty. Cardero will have the right to purchase ½ of the royalty applicable to the Ledgend, Enerplus-Tesla, Nico, and Spine properties for a payment of $1,000,000 in cash at any time following date Cardero exercises its right to acquire the properties. A similar buy-back provision applies in relation to the Lardeau project.

Figure 1: Location of Properties in Southeast B.C.

To view an enhanced version of Figure 1, please visit:
http://ift.tt/2xGIdUc

Exploration to Date

Subsequent work in 2016 included a soil survey, completed by the underlying owners, covering an area 500 by 1600 metres at 25 metre spacing on 100 metre lines. This generated a nickel-cobalt anomaly 800 metres in length extending to the southeast of the showing, with the peak of the anomaly (values up to 0.84% nickel) located on a steep slope about 200 metres southeast (Figure 2).

Cardero recently completed mapping and soil, silt and rock sampling on the Ledgend, Enerplus-Tesla and Lardeau Properties and results are pending. A total of 1218 samples were collected, including an extension to the 2016 Ledgend Property soil sampling survey (Figure 2). A conformable and probably syngenetic horizon of manganiferous-rich exhalite is associated with the massive sulfides located to date. Sampling has intermittently traced this horizon throughout the length of the soil grid and beyond, from at least 400 metres to the north to some 4,500 metres to the south, where similar conformable sulfide mineralization has been found. Another soil grid has been completed covering one kilometre of the southern strike extension. The northern portion of the claims covers two kilometres of the horizon’s strike and has not yet been sampled.

Plate 1: Sample of massive sulphide from the Ledgend discovery outcrop.

To view an enhanced version of Plate 1, please visit:
http://ift.tt/2xHNRFN

Sampling Procedures and Quality Assurance and Quality Control

The work program at the Kootenay Project was designed and supervised by M. McClaren, P.Geo. and J.M. Dawson, P.Eng., and has been the subject of due diligence by John Drobe, P.Geo., the Company’s Chief Geologist. Soil samples were taken from the ‘B’ horizon whenever possible and were collected using a mattock or shovel. Sample sites were labelled with blue and orange flagging tape with the number recorded on the tape. Soil samples were placed in waterproof kraft envelopes, after which samples were dried and collated. All soil samples were then shipped in sealed bags to ALS Minerals laboratories in North Vancouver, B.C. The samples were dried at <60 degrees C. and sieved to -180 microns (Prep 41), then analysed by ICP-MS for 51 elements (method AuME-TL43).

This initial sampling program did not include a comprehensive QA/QC programme; however, ALS Minerals is an ISO 9002 registered laboratory and inserted blanks, standards and duplicates following their QA/QC protocol. In addition, follow-up field duplicate samples were collected from the anomalous soil lines, both high and low, and the results returned satisfactory values.

Note that the exploration results described here for the Kootenay Project are preliminary in nature and not conclusive evidence of the likelihood of a mineral deposit.

Qualified Person

John Drobe P.Geo., Cardero’s Chief Geologist and a qualified person as defined by National Instrument 43-101, has reviewed the scientific information that forms the basis for this news release, and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is an officer, a shareholder and hold incentive stock options.

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Figure 2: Nickel values from the 2016 rock and soil sampling at the Ledgend property. The 2017 soil survey extension carried out by the Company is shown with results pending.

To view an enhanced version of Figure 2, please visit:
http://ift.tt/2A3FqWJ

Private Placement

The Company is pleased to announce a non-brokered private placement for up to 1,142,857 Flow Through shares of the Company at a price of $0.175 per share for aggregate cash proceeds of up to $200,000. Finders’ fees may be payable on all or a portion of the funds raised pursuant to this financing.

The proceeds will be used to advance the Company’s newly acquired project consisting of five nickel-cobalt properties in south eastern British Columbia (the “Kootenay Project” or the “Project”) totalling approximately 8,000 hectares.

This private placement is subject to regulatory approval, and the common shares will be restricted from trading for a period of four months and a day from the date of issuance, in compliance with securities legislation and TSX Venture Exchange policies.

ABOUT CARDERO RESOURCE CORP.

Cardero Resource Corp., headquartered in Vancouver, is a resource company focussed on building a minerals exploration and development company. Cardero has the exclusive option to acquire up to a 100% interest in the Zonia Copper Oxide Project, located in Arizona. Zonia is a near-surface copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The entire resource (NI43-101 January 2016), as currently defined, is located on private land and Cardero’s plan going forward is to complete detailed engineering in anticipation of permitting the Project. In September 2016, Cardero completed staking a total of 57 claims, the Silver Queen block, covering 424.5 hectares (1049 acres) adjacent to the southeast edge of Zonia. The Company has plans for exploration work on the Silver Queen claims which will include geological mapping, soil sampling and geophysics. Detailed information is available at the Company’s web site at www.cardero.com.

The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the Frankfurt Stock Exchange (symbol CR5) and OTCBB (symbol CDYCF). For further details on the Company readers are referred to the Company’s web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com

On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.

“Stuart R. Ross” (signed)

Stuart R. Ross, CEO and President

Contact Information:
Stuart Ross or Marla Ritchie
604 408 7488

General Contact:
Email: info@cardero.com
Toll Free: 1-888-770-7488
Tel: 604 408-7488
Fax: 604 408-7499

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This news release includes certain information that may be deemed “forward looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the potential of the Kootenay project, general future plans and objectives for the Kootenay project, the availability of financing to the Company and the Company’s plans in relation to exploration programs and exercising its options regarding the Kootenay project are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include 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, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

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IIROC Trade Resumption – Puma Exploration Inc.

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – Trading resumes in:

Company:

Puma Exploration Inc.

TSX-V Symbol:

PUM

Resumption Time (ET):

12:30

 

 

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

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For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

from Newsfile Corp News Releases http://ift.tt/2yjpUZq.