Cuda Pétrole et Gaz Inc. annonce une étape importante de financement pour son projet de pétrole léger dans le bassin de la rivière Powder, au Wyoming

Calgary, Alberta—(Newsfile Corp. – le 5 juin 2019) – Cuda Pétrole et Gaz Inc. («Cuda» ou la «société») (TSXV: CUDA) est heureuse d’annoncer qu’elle a signé une lettre d’intention (la « LI ») pour le refinancement de sa facilité de crédit de 35 millions $ CAN (la « Facilité ») avec son prêteur institutionnel canadien ( le « Prêteur »). Le refinancement inclut une extension de la maturité de la Facilité pour un an de juillet 2019 à juillet 2020 et est sujet à une entente définitive. Les intérêts de la Facilité continueront à être composés et payables sur une base mensuelle à un taux annuel de 10,5%. En relation avec le refinancement de la Facilité, la société émettra des bons de souscription pour 1,500,000 actions ordinaires (« les « Bons ») à l’intention du Prêteur. Chaque Bon permettra au Prêteur d’acheter une action ordinaire (chaque « Action Ordinaire ») de Cuda a un prix d’exercice de 0.65$ CAN/ Action Ordinaire et se terminera 24 mois après l’émission des Bons. L’émission des Bons est sujette à l’approbation de la Bourse de croissance du TSX.

En plus, le Prêteur accepte de fournir une demande de facilité additionnelle de 8 millions $ CAN (la « Facilité Additionnelle ») qui sera due le 31 décembre 2019. Les intérêts sur la Facilité Additionnelle seront composés et payables mensuellement à un taux annuel de 10,75%. Le produit de la Facilité Additionnelle fournira un filet de sécurité financier pour le financement et l’exécution du programme d’injection de gaz naturel miscible (le « Programme ») situé sur l’unité fédérale Barron Flats (Profonde) (« BFU ») dans le comté de Converse, au Wyoming. Un test de stimulation par injection cyclique de gaz, associé au Programme, est prévu débuter en juillet 2019 au puits William Valentine # 1.

KES 7 Capital Inc (« KES 7 » agit à titre de conseiller financier pour la société.

La Facilité additionnelle est un jalon important dans le support du plan d’investissement en capital de 2019 afin de développer les importantes réserves attribuées à la société à la fin de l’année 2018. Les réserves ont été préparées conformément aux définitions, standards et procédures contenues dans le COGE Handbookan NI 51-101 – Standards of Disclosure for Oil and Gas Activities (« 51-101 ») par les évaluateurs indépendants de la compagnie Ryder Scott. Toutes les informations sur les réserves prouvées développées (« PDP ») et celles prouvées développées inexploitées (« PNP »), le total des réserves prouvées (« 1P ») et le total des réserves prouvées et probables (« 2P ») sont disponibles ci-dessous :

Réserves au 31 Décembre 2018

  • PDP + PNP est 1,534 mbep (million de baril équivalent de pétrole) (62 % pétrole & liquides)
  • 1P est 4,949 mbep (84 % pétrole & liquides)
  • 2P est 14,571 mbep (84% pétrole & liquides)

Valeur des réserves au 31 décembre 2019 (Avant taxes escompté de 10%)

  • PDP + PNP est de 26.8 M$ ou 1.22$ par action ordinaire
  • 1P est de 77.8 M$ ou 3.55$ par action ordinaire
  • 2P est 191.6 M$ ou 8.74$ par action ordinaire

En plus des conditions existantes, la Facilité Additionnelle est soumise à des frais réguliers d’opération et d’établissement et d’un retrait initial de 3.5 Millions $ CAN. La valeur requise du PDP à la fin de l’an 2019 ne doit pas être inférieure à 50 Millions S CAN basée sur le rapport d’évaluation de fin d’année de Ryder Scott.

Cuda a également acquis récemment l’unité de Cole Creek composée d’une superficie de 11 000 acres brutes (3 630 acres nets) et qui peut supporter un projet de 48 puits (16,7 puits nets) qui peut être développée avec la technologie de forage horizontal non conventionnelle.

Le bassin de la rivière Powder, et plus particulièrement le comté de Converse, continue de connaître une augmentation des activités des principales sociétés E&P pétrolières et gazières ainsi que des entreprises soutenues par du financement privé. Les différentes cibles pétrolières du bassin, et superposées les unes aux autres en profondeur, continue de donner des résultats positifs. La société a reconnu qu’il existait plusieurs opportunités supplémentaires à différente profondeur sous le Grès conventionnel du Shannon sur son territoire, et plus précisément, dans les formations géologiques du Frontier, Niobrara et Muddy. Ces opportunités constituent la base d’un développement ultérieur des ressources sur les terrains de la société.

À propos de Cuda Pétrole et Gaz Inc.

Cuda Pétrole et Gaz Inc. est engagée dans des activités d’exploration, de développement et de production de pétrole et de gaz naturel, ainsi que dans l’acquisition de propriétés pétrolières et gazières partout en Amérique du Nord. Les membres de l’équipe de direction de Cuda collaborent étroitement depuis plus de 20 ans au sein de sociétés fermées et ouvertes et ont déjà fait leurs preuves sur le plan de l’excellence du rendement réalisé par les actionnaires. Cuda continuera à mettre en œuvre sa stratégie éprouvée en matière d’exploration, d’acquisition et d’exploitation en se concentrant à long terme sur ses éléments d’actif recelant de vastes ressources de pétrole léger en Amérique du Nord, y compris sa vaste expérience en exploitation aux États-Unis. L’équipe de direction de Cuda possède de l’expérience dans une gamme complète de domaines, soit la géotechnique, l’ingénierie, la négociation et les finances, qu’elle met à profit pour prendre ses décisions en matière de financement.

Pour plus d’informations, veuillez contacter:

Glenn Dawson
Président et chef de la direction
Cuda Oil and Gas Inc.
(403) 454-0862

Mise en garde relative aux énoncés prospectifs

Le présent communiqué de presse contient des « énoncés prospectifs ». Tous les énoncés autres que les énoncés de faits passés qui se trouvent dans le présent communiqué de presse sont des énoncés prospectifs qui comportent certains risques et incertitudes et sont fondés sur des prévisions de résultats opérationnels ou financiers futurs, des estimations de montants ne pouvant être établis à l’heure actuelle et les hypothèses de la direction. Plus particulièrement, les énoncés prospectifs qui figurent dans le présent communiqué de presse portent sur les éléments suivants : (i) les termes du refinancement proposés pour la facilité de crédit et l’émission de bons de souscription au Prêteur; (ii) les activités d’exploration et de développement ainsi que l’échéancier de ses activités; (iii) l’échéancier des développements opérationnels relié aux installations d’injection de gaz naturel miscible de la société; et (iv) les estimations des réserves et la valeur des réserves qui comportent des évaluations implicites que les réserves peuvent être produites de façon rentables, de par leur nature. Ces énoncés sont basés sur certaines hypothèses de la société concernant les conditions actuelles et les futurs développements anticipés incluant des hypothèses concernant: (i) l’exécution de l’entente définitive concernant le refinancement; (ii) toutes les autorisations de tierces parties ou réglementaires seront obtenues; et (iii) les perspectives et opportunités commerciales. Les facteurs de risque qui pourraient faire en sorte que les résultats prévus par ces énoncés prospectifs ne se réalisent pas comprennent les exigences permanentes en matière de permis, les résultats effectivement tirés des activités d’exploration et de développement en cours, les risques opérationnels, les risques associés aux forages et aux complétions de puits, incertitude des données techniques et géologiques, l’accès aux capitaux, les conditions qui règnent sur le marché, l’accessibilité des sources d’énergie de rechange et la nature de ces sources, les conclusions des évaluations économiques et les changements apportés aux paramètres des projets au fur et à mesure que les plans continuent d’être peaufinés, ainsi que les prix futurs du pétrole et du gaz naturel. Bien que Cuda aient tenté d’identifier les facteurs importants qui pourraient faire en sorte que les résultats effectivement obtenus diffèrent considérablement de ceux qui sont prévus, estimés ou voulus, d’autres facteurs pourraient aussi intervenir en ce sens. Toutefois, il ne peut y avoir aucune assurance que ces énoncés prospectifs se révéleront exacts, puisque les résultats réels et les événements futurs pourraient différer considérablement de ceux que ces énoncés prévoient. Par conséquent, les lecteurs ne devraient pas se fier indûment aux énoncés prospectifs. La société décline toute intention et obligation de mettre à jour ou de réviser tout énoncé prospectif, que ce soit en raison de nouveaux renseignements, d’évènements futurs ou d’autres facteurs, à moins que la loi applicable ne l’exige.

Avis concernant le pétrole et le gaz

L’estimation de la valeur actualisée nette des revenus futurs nets attribuable aux réserves peut ne pas représenter la valeur juste marchande.

Les « bep » peuvent être trompeurs, particulièrement si on les utilise de façon isolée. Le ratio de conversion utilisé, soit six milliers pieds cubes de gaz naturel par baril d’équivalent de pétrole (6 kpi³ : 1 b), est fondé sur une méthode de conversion d’équivalence énergétique principalement applicable au bec du brûleur et ne représente pas un équivalent de valeur à la tête du puits. Compte tenu du fait que le ratio de valeur fondé sur le prix actuel du gaz naturel par rapport à celui du pétrole brut est très différent de l’équivalence énergétique de 6:1, l’utilisation d’un tel ratio peut donner lieu à une indication trompeuse de la valeur.

Ni la Bourse de croissance TSX, ni son fournisseur de services de réglementation (au sens donné à ce terme dans les politiques de la Bourse de croissance TSX) ne sont responsables de l’exactitude ou de l’exhaustivité du présent communiqué.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45387

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ALX Uranium Corp. Announces Grant of Stock Options

Vancouver, British Columbia–(Newsfile Corp. – June 6, 2019) – ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (“ALX” or the “Company)  announced today that the Board of Directors has approved the allocation of 3,450,000 incentive stock options to directors, officers, employees, and advisors of the Company. The options are exercisable at $0.07 per share for a period of five years from issuance, and are subject to the following vesting provisions – one third (1/3) of the options will vest in four months, one third (1/3) in eight months and one third (1/3) vesting one year from the allocation date.

About ALX Uranium Corp.

ALX’s mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada, a superior mining jurisdiction. The Company executes well-designed exploration programs using the latest available technologies and has interests in over 200,000 hectares in Saskatchewan, a Province that hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates strong potential for economic base metals deposits. ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol “AL”, on the Frankfurt Stock Exchange under the symbol “6LLN” and in the United States OTC market under the symbol “ALXEF”. Technical reports are available on SEDAR at www.sedar.com for several of the Company’s active properties.

For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxuranium.com

On Behalf of the Board of Directors of ALX Uranium Corp.

“Warren Stanyer”

Warren Stanyer, CEO and Chairman

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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45389

First Vanadium Announces First Tranche Closing of Financing – Insiders Participate

Vancouver, British Columbia–(Newsfile Corp. – June 6, 2019) – First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (“First Vanadium” or the “Company”) is pleased to announce that the Company has closed the first tranche (the “First Tranche“) of its non-brokered private placement financing (the “Offering“) previously announced on May 21, 2019. Under the First Tranche, the Company has issued 2,125,500 units at a price of C$0.40 per unit for gross proceeds of C$850,200. Each unit is comprised of one common share and one warrant. Each warrant will be exercisable into one common share for a period of three years at an exercise price of $0.65 per share. In connection with the First Tranche, the Company paid a finder’s fee of C$2,100 to PI Financial Corp.

Certain directors, officers (the “Insiders“) and close associates of the Company participated in the First Tranche and purchased an aggregate of 898,000 units for aggregate gross proceeds of C$359,200. Participation by Insiders of the Company in the Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the private placement by the Insiders did not exceed 25% of the fair market value of the Company’s market capitalization.

All securities issued under the First Tranche are subject to a hold period expiring October 7, 2019, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The second tranche of the Offering for additional proceeds of up to C$349,800 is expected to close on or before June 28, 2019.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 as amended (1933 Act), or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.

per: “Paul Cowley”
CEO & President
(778) 655-4311
pcowley@firstvanadium.com

www.firstvanadium.com

Neither the 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.

Forward-looking information

Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance and include the Company’s ability to meet its obligations under the Access and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project, and the proposed second tranche closing of the Company’s private placement offering. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and 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 as required under applicable securities regulations.

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/45384

Copper Fox Extends Warrant Expiry Dates

Calgary, Alberta–(Newsfile Corp. – June 6, 2019) – Copper Fox Metals Inc. (TSXV: CUU) (“Copper Fox” or the “Company”) is pleased to announce that it intends to extend, subject to the approval of the TSX Venture Exchange, the expiry dates of 19,919,665 outstanding warrants as detailed below. The subject warrants were originally issued on June 9, 2016, June 30, 2016, and July 27, 2017 respectively, with an original expiry date of two (2) years, in connection with private placements of units consisting of common shares and warrants of the Company. The new expiry dates provide an additional one year extension on the 2016 warrants and the first one year extension on the 2017 warrants. These warrants continue to be exercisable at their original exercise price.

Exercise Price Original (and amended) Expiry Date (Further) Amended Expiry Date
$0.17 June 9, 2018 (amended to June 9, 2019) June 9, 2020
$0.17 June 30, 2018 (amended to June 30, 2019) June 30, 2020
$0.17 July 27, 2019 July 27, 2020

 

About Copper Fox

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox’s other mineral properties and investments visit the Company’s website at http://www.copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart
President and Chief Executive Officer

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

For additional information contact:
Copper Fox Metals Inc.

Lynn Ball: investor@copperfoxmetals.com
(844) 464-2820 or (403) 264-2820
www.copperfoxmetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45375

Getchell Gold Corp. Provides Drill Program Update, Hot Springs Peak Project, NV and Share Issuances

Toronto, Ontario–(Newsfile Corp. – June 6, 2019) – Getchell Gold Corp. (CSE: GTCH) (“Getchell Gold” or the “Company”) further to its news release of May 2, 2019, is pleased to provide an update on the exploration drill program at the Company’s 100% owned Hot Springs Peak Property located in Humboldt County, Nevada. The drill program was completed last week and consisted of two drill holes; one reverse circulation angle hole totaling 274 meters (HSP-RC5) and a 783 meter deep core hole (HSP-C1). The two holes form part of the planned Phase 2 exploration drill program and represent a follow up to the Phase 1 four-hole program that was completed last Fall (results detailed in a Company press release dated February 25, 2019).

Hole HSP-RC1, drilled last Fall, encountered Carlin Style alteration with anomalous gold, ranging up to 0.155 g/t, and pathfinder elements of arsenic, mercury and antimony in numerous intervals. The hole was terminated prematurely at a depth of 315 meters due to poor hole conditions which ended the drilling at the top of the highest intensity geophysical resistivity anomaly on the property.

The recently completed core hole (HSP-C1) is a vertical hole designed to offset and drill to depth hole HSP-RC1’s untested resistivity anomaly. The targeted anomaly is defined by the convergence of the magnetic low, chargeability high and resistivity high anomalies in conjunction with the surface hornfels alteration along the mine shaft trend containing the gold-arsenic mineralization. The first 262 meters of the hole were drilled by reverse circulation (RC), the hole was cased and then continued by core drilling to a total depth of 783 meters (2,568 feet). The RC drilling ended in one of three argillized-pyritic intrusions with the core drilling intersecting additional intrusions and carbon rich quartz fragmental breccias. Approximately 150 meters of carbon rich quartz breccias with silicification and disseminated pyrite associated with the silicification were intersected by the deeper core drilling. Intervals of suspected hornfels alteration surrounding the breccias will be confirmed with petrographic analysis. The results of the core drilling support the targeting methodology used to locate alteration that may contain Carlin Style gold mineralization.

HSP-C1 was reclaimed up to the bottom of the casing and the casing left in the hole to preserve the option of re-entering the hole with directional drilling if results warrant.

A rotary percussion RC angle hole (HSP-RC5) was drilled to a total length of 274 meters and located approximately 267 meters NNW of hole HSP-RC3, HSP-RC5 was designed to test two targets by; 1) crossing under the historic mine shaft mineralization that contained 24 g/t (0.701 opt) gold, and 2) penetrating into the side of the highest chargeability on the property within the magnetic low anomaly and surface hornfels alteration. The drill hole intersected 17 meters of quartz vein and replacement under the mine shaft mineralization trend. As the hole penetrated further into the geophysical target, carbon rich quartz fragmental drill cuttings containing pyrite were encountered before the hole was ended.

Samples for both holes have been delivered to the laboratory for analysis and results will be released once received and interpreted.

The technical part of this news release was written by Timothy Master, a Qualified Person (QP) for Getchell Gold Corp. as that term is defined in NI 43-101 and an independent technical advisor for Getchell Gold.

Share Issuances

Further to its press release of May 10, 2019, the Company has approved the issuance of 1,057,956 shares (341,446 shares less than anticipated) from treasury in satisfaction of claims that may have resulted from the purchase of pre‐consolidated Getchell Gold shares via exchange trades executed during the period from December 3, 2018 to December 18, 2018. The Ontario Securities Commission approved the share issuance and a claims process was undertaken as described in the May 10, 2019 news release. The Company has caused the shares to be delivered to CDS Clearing and Depository Services Inc. (CDS) for distribution to the broker/dealers based on their approved share claims. All of the 1,057,956 shares have been delivered by CDS to the broker/dealers.

Due to currency exchange issues, the Company wishes to clarify disclosure in its news release dated May 21, 2019 regarding the closing of a first tranche of financing. The gross proceeds received was $785,409, rather than the reported amount of $786,353.

Following the issuance of shares to CDS and the completion of the Company’s first tranche financing, there are 34,984,631 shares of the Company issued and outstanding.

Property Renewals Update

The Company did not receive satisfactory renewal terms for the BV and BV South Mining Lease areas located in Pershing County Nevada and consequently will not be renewing the leases.

For further information please contact the Company at +1 303 517 8764.

William Wagener
Chairman & CEO
Getchell Gold Corp.
wswagener@att.net

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.

This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “”will”, “intent”, “anticipates” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings; regulatory approval of the issuance of securities, and potential dilution.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45357

UrbanGold Consolidates its Mercier Rare Earth Property

Ottawa, Ontario–(Newsfile Corp. – June 6, 2019) – UrbanGold Minerals Inc. (TSXV: UGM) (“UrbanGold” or the “Company”) is pleased to announce that is has acquired additional claims to enlarge its Mercier property, a Rare Earth Elements (“REE”) project located south of the Windfall-Urban area and next to its 100% owned StarGold project. The Mercier property was originally acquired in 2016 and an additional 19 claims have been acquired through map staking. Once pending claims have been approved, the Mercier property will total 38 claims totalling 2,170 hectares.

Originally discovered in 1974, the Mercier property was drilled in 2008 and in 2010 for its potential for REE hosted within a large alkaline carbonatite intrusive complex. The limited drilling program intersected significant widths of Total Rare Earth Oxides (“TREO”) and surface sampling also uncovered high grade values in grab samples (Please refer to Threegold Resources Inc.’s news release dated April 30, 2010 for values and widths. A link is provided on UGM’s website.) No work has been recorded in the area since.

The following map shows the Mercier property location in relation to the Windfall area, and the Company’s StarGold and Monaco properties.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6266/45352_8ae34938f49e8b81_002.jpg

Map

To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/6266/45352_8ae34938f49e8b81_002full.jpg

Mathieu Stephens, President and CEO of UrbanGold comments: “Although the Company’s primary focus remains its StarGold and Monaco gold projects, we did not want the Mercier property to sit idle during this time of turmoil and rising REE prices due to the current trade issues between the US & China. The Mercier intrusive complex was originally acquired by UrbanGold for its REE grades and due to its potential large size of roughly 4 kilometres by 6 kilometres.”

Qualified Person

This news release has been prepared by Mathieu Stephens, P.Geo., President and CEO for UrbanGold, the Qualified Person, as defined by National Instrument 43-101.

About UrbanGold

UrbanGold is incorporated under the federal laws of Canada and has its principal office in Ottawa, Ontario, Canada. The Company is engaged in the evaluation, acquisition and exploration of mineral properties in Canada, and its current focus is Quebec. The Company plans to ultimately develop the properties, bring them into production, option or lease the properties to third parties, or sell the properties outright. The Company has not determined whether these properties contain mineral reserves that are economically recoverable, and the Company is considered to be in the exploration stage.

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by forward-looking information. See “Risk Factors” in the Company’s Final Prospectus dated December 13, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

For further information

Mathieu Stephens, Chief Executive Officer
mstephens@urbangoldminerals.com

Jens Hansen, Chairman of the Board
jhansen@urbangoldminerals.com

Phone (613) 721-2919
www.urbangoldminerals.com

Neither the TSX Venture Exchange, nor its Regulation Service Provider (as that term is defined in the policies of the TSXV, accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45352

Romios Commences Its Exploration Program on High Potential Drill Targets on Strike from Its Atim Lake North Cu-Au-Ag Discovery, NW Ontario and Grants Options

Toronto, Ontario–(Newsfile Corp. – June 6, 2019) – Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company“) is pleased to announce that a field exploration crew and a drill crew has mobilized to the Antim Lake North property (the “Property“) for the 2019 summer exploration program (the “Program“). Drilling is expected to commence in a matter of days.

As reported in a news release on April 29, 2019, the airborne Geotech VTEMTM PLUS survey recently completed at its Lundmark-Akow Lake Cu-Au-Ag Project in Northwestern Ontario detected a promising series of electromagnetic (EM) conductors over a 6.5 km strike length. These conductors now form part of a 10 km long, high potential target horizon that appears to be the host sequence for the high-grade Atim Lake North Cu-Au-Ag volcanogenic massive sulphide (VMS) discovered by Romios in 2017, (news release September 19, 2017). Romios’ discovery hole, RG-17-1 (1.9 m @ 2.35% Cu, 1.4 g/t Au and 68 g/t Ag within a >30 m thick exhalative package), was drilled at the southern end of this 10 km long conductive package. Romios believes that this VMS system has the potential to host multiple massive sulphide deposits along its entire 10 km length.

Geological mapping, sampling and geophysical surveying is planned, including a 1000-1500 metre drill program of short holes to test these targets. The Property is within 18 km of an all-weather road and powerline servicing the Musselwhite gold mine.

The Company also announced that an aggregate of 9,850,000 options to purchase common shares of the Company at $0.08 per share for five years have been granted to eight Officers and Directors and four service providers.

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios and a Qualified Person as defined by National Instrument 43-101.

About Romios Gold Resources Inc.

Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper. It has extensive claim holdings covering porphyry copper-gold prospects in the “Golden Triangle” of British Columbia as well as the 100% interest in the Lundmark-Akow Lake property in Ontario, the LaCorne molybdenum property in Quebec and the Scossa gold property in Nevada. The company also retains a 2% NSR on the Hislop gold property near Timmins, Ontario.

This News Release contains forward-looking statements which are typically preceded by, followed by or including the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.

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.

For further information, please contact:

Tom Drivas, President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email) romios@romios.com.

John Biczok, P. Geo., Vice-President, Exploration, (tel) 613-410-7877 or (email) john.biczok@gmail.com.

Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email) fvandewater@rogers.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45364