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SilverCrest Metals Inc.


SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) is a Canadian precious metals exploration company headquartered in Vancouver, BC , that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company is led by a proven management team in all aspects of the precious metal mining sector, including the pioneering of a responsible "phased approach" business model taking projects from discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.

SilverCrest Metals (TSXV: SIL.V; OTC: SVCMF) Presentation at #VRIC17

Mining News

Avalon (TSX: AVL) (OTCQX: AVLNF) Announces Updated Resource Estimate and Development Plans for Separation Rapids Lithium Project, Kenora, Ontario
Toronto, Ontario - May 23, 2018 (Newsfile Corp.) ( Newswire) Avalon Advanced Materials Inc. (TSX: AVL) (OTCQX: AVLNF) ("Avalon" or the "Company") is pleased to announce a mineral resource estimate update for the Separation Rapids lithium deposit which includes results from the 2018 winter drilling program disclosed in the Company's news release dated April 3, 2018.

Cruz (TSXV: CUZ) (OTC Pink: BKTPF) Looking to Start Operations on #Cobalt Prospects in Ontario
Vancouver, British Columbia - May 23, 2018 (Newsfile Corp.) ( Newswire) Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) is pleased to announce that the company is planning to commence operations shortly on its numerous cobalt properties located in the vicinity of the Ontario cobalt camp.

Lara Exploration (TSXV: LRA) Reports Mining License Granted for the Maravaia #Copper Project in #Brazil
Vancouver, British Columbia - May 23, 2018 (Newsfile Corp.) ( Newswire) Lara Exploration Ltd. (TSXV: LRA) ("Lara" or the "Company"), is pleased to report that Mineração Maravaia Ltda., has been granted its mining license for the Maravaia Copper Project

ML Gold (TSXV: MLG) Receives Drilling Permits and Cuts Open Ended Visible Copper in Hole 8 at Stars Property
Vancouver, British Columbia - May 23, 2018 (Newsfile Corp.) ( Newswire) ML Gold Corp. (TSXV: MLG) ("ML Gold" or the "Company") announces it has received permits to conduct step-out drilling at the Stars Project in Central BC.

Gearing Up for a Busy Summer in the Golden Triangle
May 22, 2018 ( Newswire) Calling it "one of the hottest exploration regions in Canada," Thibaut Lepouttre of Caesars Report describes how one company is preparing for the short summer exploration season.

Canuc (TSXV: CDA) Provides Exploration Update for San Javier
Toronto, Ontario - May 22, 2018 (Newsfile Corp.) ( Newswire) Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") is pleased to provide an update on exploration at the San Javier Project.

Palamina (TSXV: PA) Contracts Airborne Geophysical Surveys on Its Coasa, Gaban & Cori Gold Projects
Toronto, Ontario - May 22, 2018 (Newsfile Corp.) ( Newswire) Palamina Corp. (TSXV: PA) has contracted New-Sense Geophysics Limited to conduct heliborne geophysical aeromagnetic-radiometric surveys on its Coasa, Gaban and Cori gold projects in south-eastern Peru.

Gold, Silver & US Dollar Updates with Review of Latest COTS
May 22, 2018 ( Newswire) Technical analyst Clive Maund looks at gold, silver and the dollar after reviewing the latest COT Charts.

Golden Triangle Stock Review
May 22, 2018 ( Newswire) Technical analyst Clive Maund takes a look at miners working in British Columbia's Golden Triangle.

Jack Chan's Weekly Precious Metals Update
May 22, 2018 ( Newswire) Technical analyst Jack Chan updates his gold and silver charts.

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Mining News from Global Newswire

Pershimex Resources Corporation completed the closing of a private placement of $200 000  

ROUYN-NORANDA, Quebec, May 23, 2018 (GLOBE NEWSWIRE) -- Pershimex Resources Corporation (« Pershimex » or the « Corporation») (TSX Venture:PRO) is pleased to announce the closing of a non-brokered private placement for a total amount of $200 000 with several individual and corporate investors, at a subscription price of 0.12 $ per unit (the “private placement”). Each of the 1,666,666 units is comprised of one common share and one common share purchase warrant of the Corporation. Each warrant entitles the holder the right to purchase, for a period of 36 months from the closing date, one common share of the Corporation at an exercise price of $ 0.15. There will be a hold period of four months and one day on all securities issued under this private placement. Please note that Dundee Precious Metals Inc. (“Dundee”) participated in this private placement. By becoming a shareholder of Pershimex, Dundee confirms our will and determination to develop the mining potential of Northwestern Quebec, recognized worldwide as an experienced and promising safety region.

Three directors of the Corporation (the “insiders”) purchased a total of 493,333 units for a total consideration of $59,200 (Roger Bureau for 14.6% of the private placement, Alain Bureau for 12.5% of the private placement and Robert Gagnon for 2.5% of the private placement). The issuance of units to the insiders constitutes a related party transaction but is exempt from the formal valuation and minority approval requirements of Regulation 61-101- Protection of Minority Security Holders in Special Transactions, as neither the fair market value of the units issued to the insiders, nor the fair market value of the entire private placement, exceeds 25% of the Corporation’s market capitalization. The Corporation did not file a material change report with respect to the participation of the insiders at least 21 days prior to the closing of the private placement as the insiders’ individual and total participation were not determined at that time.

The proceeds of this private placement will be mainly used by Pershimex to continue the drilling on the Courville project. This work aims to define the S-E extension of the Rolartic showing, which was positive bulk sample.

Please see Pershimex’s press release issued on May 17, 2018, reporting a new high-grade gold showing on the Malartic Property.

Pershimex Resources Corporation – short overview

  • Holds more than 800 claims in the Abitibi-Témiscamingue;
  • Holds 100% of the mining rights on the Courville property;
  • Exploring with Dundee Precious Metals on the Malartic property;
  • Partner with Chalice Gold Mines on the Forsan property.

This press release was prepared by Robert Gagnon, Geologist, President and Chief Executive Officer of Pershimex, and Qualified Person under NI 43-101.

For more information:

Robert Gagnon, Chief Executive Officer

Tel.: (819) 797-2180


The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of the information contained in this press release.

The facts set out in this press release that are not historical facts are “forward-looking statements” and readers are cautioned that such statements are not a guarantee of success and that future developments and results may be different from those projected in these forward-looking statements.

Beaufield options 70% interest in a block of claims to Bonterra Resources Contiguous to the Gladiator Gold Deposit

MONTREAL, May 23, 2018 (GLOBE NEWSWIRE) -- Beaufield Resources Inc. (TSX-V:BFD) (the “Corporation” or “Beaufield”) is pleased to announce that it has entered into a letter of intent (“LOI”) with Bonterra  Resources Inc. (“Bonterra”), whereby the Corporation has granted Bonterra an option to acquire a 70% interest (the “Option”) in 81 mineral claims totaling 3,590 hectares, located in the Urban Barry Greenstone belt, Quebec, Canada (the “Property”).

The Property is an assemblage of contiguous mineral claims located immediately adjacent to the boundaries of Bonterra’s Urban Barry properties containing the Gladiator Deposit and extensions.  This land package also contains numerous gold showings with expansion potential including Lac Rouleau and Zone 18.  The general geology is considered to be similar to that of the Gladiator area, with numerous occurrences of structurally controlled shear hosted vein mineralization on or near mafic volcanic contacts in proximity to both felsic and mafic intrusive units.

“We believe this transaction with Bonterra represents a win-win for the shareholders of both companies. In addition to receiving the cash and share payments, Beaufield will retain a 30% interest in the project as Bonterra fulfils the $4.5 million work commitment.  Bonterra, in turn, has the resources to aggressively advance the property which dovetails nicely with their existing Gladiator discovery.  In addition, Beaufield will retain 100% of the northern portion of the Rouleau block, covering 3,261 hectares, which is contiguous with Osisko Mining’s Windfall project.  Furthermore, Beaufield will retain 100% of the Macho, Golden Retriever and other district claims covering an additional 15,474 hectares in this emerging gold camp.  We look forward to working with Bonterra as we look to unlock the value of this portion of the property,” commented Ron Stewart, President and CEO of Beaufield. (See figures attached).

Map 1 is available at

Map 2 is available at

Under the terms of the LOI, which will be formalized by a definitive agreement (the “Agreement”), Bonterra can earn a 70% interest in the Property by issuing 4,000,000 common shares to Beaufield upon closing of the Agreement, paying Beaufield a total of $750,000 in equal amounts over a three-year period ($250,000 upon closing of the Agreement), and incurring a total of $4,500,000 in exploration expenditures on the Property over three years. 

Upon completion of the Option, the parties will enter into a joint venture agreement on standard industry terms. 

The transaction is subject to the acceptance of the TSX Venture Exchange.

Qualified Persons
This news release has been prepared and approved by Ronald Stewart, P. Geo., President and CEO of Beaufield and Mathieu Stephens, P. Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Persons, as defined by National Instrument 43-101.

About Beaufield:
Beaufield is a mineral exploration company with its exploration activity focused in Quebec and Ontario. Please refer to Beaufield's website to view the Corporation's properties in Urban, Eleonore-Opinaca, Tortigny, Hemlo and Launay. The Corporation is actively exploring, is well financed with approximately $5 million in working capital, has no debt and has excess work credits on its properties.

The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly 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 by applicable law.

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

CONTACT: Ronald Stewart, President and CEO : Tel: 647.409.0293
Mathieu Stephens, VP Exploration and Corporate Development: Tel: 514.842.3443

Exercise of Warrants and Issue of Equity

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

23 May 2018
Vast Resources plc
("Vast" or the "Company")

Exercise of Warrants and Issue of Equity

In line with its regulatory obligations, Vast Resources plc, the AIM-listed mining company with operating mines in Romania and Zimbabwe, announces that, pursuant to the issue of warrants to subscribers to the open offer completed on 1 August 2016 (the "Open Offer Warrants"), a holder of Open Offer Warrants has elected to exercise 300,000 Open Offer Warrants.  Each Open Offer Warrant entitles the holder to one ordinary share of 0.1 pence each in the Company ("Ordinary Shares") at a price of 0.5 pence per Ordinary Share.  Notice of exercise of the Warrants was received by Vast on 22 May 2018.  Accordingly, the Company has today issued 300,000 new Ordinary Shares.  £1,500.00 has been received by the Company as a result of the exercise of the Open Offer Warrants.

Application will be made to the London Stock Exchange for 300,000 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 30 May 2018 ("Admission").  The issued new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares.

Following Admission of the new Ordinary Shares, the issued ordinary share capital of Vast will consist of 5,134,544,678 Ordinary Shares.  There are no Ordinary Shares held in treasury.  5,134,544,678 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules. 


For further information, visit or please contact:

Vast Resources plc
Andrew Prelea (Chief Executive Officer)
+44 (0) 20 7236 1177

Beaumont Cornish - Financial & Nominated Adviser 
Roland Cornish 
James Biddle
+44 (0) 020 7628 3396
Brandon Hill Capital Ltd - Joint Broker
Jonathan Evans
+44 (0) 20 3463 5016
SVS Securities Plc - Joint Broker 
Tom Curran
Ben Tadd
 +44 (0) 20 3700 0100


St Brides Partners Ltd
Susie Geliher
Charlotte Page 
+44 (0) 20 7236 1177

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").


Vast Resources plc is an AIM listed mining and resource development company focussed on the rapid advancement of high quality brownfield projects and recommencing production at previously producing mines in Romania.

Vast Resources currently own and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015.  The Company's portfolio also includes the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.

The Company also has interests in a number of projects in Southern Africa including a 25 per cent. interest in the producing Pickstone-Peerless Gold Mine in Zimbabwe.

Angkor Gold Provides Mesco Mine Site Update

SEXSMITH, Alberta, May 23, 2018 (GLOBE NEWSWIRE) -- Angkor Gold Corp. (TSXV:ANK) (OTC:ANKOF) (“Angkor” or “the Company”) President J.P. Dau is pleased to provide an update regarding progress recently observed at the Mesco mine site.


In 2013 Angkor sold for $1.8 million US in cash a 12 km2 portion of its Oyadao South Exploration Licence, known as Phum Syarung, to Mesco Gold (Cambodia) Co., Ltd (“Mesco”). Angkor retained a sliding scale Net Smelter Return interest (“NSR” or “the Royalty”) ranging from 2.0% to 7.5% on any gold production, as well as 7.5% of the value all other metals produced. Angkor’s only interest in Mesco’s Phum Syarung mine site is the NSR. Environmental approvals were granted to Mesco on August 8, 2016 and a mining license was issued to Mesco by the Cambodian Ministry of Mines on September 6, 2016.


Angkor staff visited the Phum Syarung mine site last week to observe progress underground and to the infrastructure.

“Mesco was granted Cambodia’s first modern mining license in September 2016 and has since been building out their mining infrastructure," said Angkor President J.P. Dau. “Last week, we had the opportunity to visit the site. Multiple administrative buildings have been completed and are occupied on site, as well as an on-site assay lab in full operation with the capability to quickly test not only gold, but also a full suite of other elements - including copper and silver.”

The Angkor team also observed progress underground as well. The headframe has been in place since early 2017, along with two inclines and a loading shaft.  Incline 1 is now approximately 213.0 m in length and has become the main entrance point for Mesco to stage the next steps of underground development. Horizontal cross-cutting off of incline 1 on multiple levels is planned by Mesco to join the loading shaft and Incline 2. The overall distance between the loading shaft at the northern most point and Incline 2 at the southernmost point is approximately 400m.

“Mesco informs us that it has purchased underground mining equipment which has started to arrive in Cambodia,” said Dau, “with the first of many containers currently waiting for delivery at customs. This represents a major investment by Mesco and is a very encouraging sign.”


Angkor’s Net Smelter Return is linked to the price of gold. Under the agreement with Mesco, the NSR is a minimum of 2.0% where the gold price is less than US$1000 and increases by 0.25% for every US$50 that the gold price exceeds US$1000, to a maximum of 7.5%. For all other minerals the NSR is a fixed 7.5%.

“We are especially encouraged by the recent progress which comes at a time when Thompson Reuters has predicted the average gold price for 2018 to be $1360/oz,” continued Dau. “With gold in 2018 at or near its highest annual price for 5 years and our royalty at Mesco on a sliding scale based on the price of gold, so this would be very good news for us,” he said. “As well, a strong gold price has also generated significant recent interest in our other properties where gold is the primary target.”

Dau also cautioned that “due to Mesco being owned and operated by Mesco Steels Limited and other entities based in India, their results and reporting as to grade and project economics are not governed by CIM definitions or North American NI 43-101 standards or requirements. They own the project and conduct any and all exploration and testing themselves. Our agreement with Mesco does not give us access to their data, assays, process or project economics for verification.”

Under Mesco’s agreement with Angkor, Mesco is not obligated to provide such data for verification until and if any future production commences. Angkor’s only interest in Mesco’s Phum Syraung project is as an NSR holder.


Cambodia’s economy is predicted to grow this year again at a rate of 7%. As a major member of the ASEAN group of nations and with its ‘One Belt, One Road’ policy, China has drawn a significant amount of capital investment to Cambodia from foreign markets across numerous sectors. “The extractive sector in particular has experienced recent success,” said Dau. “Kris Energy has been granted a production license marking the first oil to be produced locally, and Angkor’s exploration partner Renaissance is in the final stages of approval for its open-pit gold Okvau mine south of our Koan Nheak property.”

“In the 12 years I have lived in Cambodia,” continued Dau, “I have witnessed the country develop at an astronomical pace with no signs of slowing down in the near future. It is not hard to understand why companies such as Manulife and National Bank of Canada have decided to establish their businesses’ presence in Cambodia. As a director of the Canadian Chamber of Commerce in Cambodia, I have the opportunity to meet the pioneers who are establishing their businesses here in hopes of capitalising on this tremendous opportunity.”


ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is a leading mineral explorer in Cambodia, with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.

Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). He is the Company’s VP Exploration and has reviewed and approved the technical disclosure in this document.

On behalf of the Board,

Mike Weeks
Executive Chairman
Angkor Gold Corp.


Stephen Burega, CEO
Telephone: (647) 515-3734
Website: or follow us on Twitter @AngkorGold.

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.

Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Photos accompanying this announcement are available at

Foran Hits 9.6% Zinc Over 8.1 Metres

McIlvenna Bay remains open at depth

VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Foran Mining Corporation (TSX.V:FOM) (“Foran” or the “Company”) is pleased to announce results of the final four holes from phase I of its resource definition and expansion drill program at its 100% owned McIlvenna Bay zinc-copper deposit (“McIlvenna Bay”) in Saskatchewan.  McIlvenna Bay is the largest undeveloped Volcanogenic Massive Sulphide (“VMS”) deposit along the 225 kilometre Flin Flon Greenstone Belt. This world class metallogenic belt is host to 29 past and present producing mines, including Hudbay Minerals Inc.’s 777 and Lalor operations.

These remaining holes were focused on the deeper portions of the McIlvenna Bay Deposit, in areas sparsely drilled during previous drilling campaigns. The holes returned significant intersections of massive sulphide and stockwork style mineralization from the underlying Copper Stockwork Zone (“CSZ”). These results are highlighted by MB-18-206w1, one of the deepest intersections of the campaign, which returned a thick high-grade massive sulphide intersection near the downdip edge of the currently defined deposit:


 • 9.63% Zn, 0.24% Cu, 29.52 grams per tonne (“g/t”) Ag, 0.21 g/t Au over 8.12 metres (“m”),
  • including 12.92% Zn, 0.28% Cu, 40.43 g/t Ag, 0.19 g/t Au over 3.08m.

“Hole MB-18-206w1 intersected a wide, high grade zinc intercept at the edge of the known massive sulphide grade shell.  These results seem to indicate that the mineralization may extend well beyond the drill hole thereby potentially increasing the size of the McIlvenna Bay deposit,” said Patrick Soares, President & CEO of Foran. “Our confidence in the validity of the historic drill data has been reinforced by the results of the winter drill program. These latest holes are a sub-set of a group targeted at the deeper sector of the deposit that has had limited drilling to date. Data compilation is well underway and we look forward to issuing an updated mineral resource estimate before the end of the year.”

Technical Information
This release provides the results of the final four holes (including one wedge) from the 2018 winter drill program at McIlvenna Bay. A number of wedged holes were drilled during the program to provide additional pierce points into the mineralized zones for resource work and/or provide multiple cuts through the mineralized horizons to allow additional sample material to be collected for metallurgical testing. During the 2018 winter program, Foran completed approximately 15,000 metres of drilling in 32 holes.

Drilling operations were suspended on April 21, 2018 for spring breakup. It is currently anticipated that drilling will recommence for the summer program in July.  

The McIlvenna Bay deposit consists of several distinct zones of VMS mineralization, including massive to semi-massive sulphide in the Main Lens and Lens 3, and the underlying stockwork-style sulphide mineralization in the Copper Stockwork Zone.  The Main Lens at McIlvenna Bay is comprised of the zinc-rich Zone 2 and the copper-zinc bearing Upper West Zone.

These latest holes targeted the deeper down-plunge parts of the deposit at depths of between 700 and 1000m below surface. Detailed results from these holes are provided in Table 1 below:

Table 1: Significant drill intercepts from the winter drill program1:

HoleZoneFrom (m)To (m)Interval (m)Au (g/t)Ag (g/t)Cu (%)Zn (%)CuEq %2ZnEq %
MB-18-205Zone 2883.86885.661.800.2221.500.316.814.927.54
 Lens 3969.24970.541.300.3235.830.892.65  
MB-18-206w1Zone 21042.691050.818.120.2129.520.249.636.7210.29
MB-18-208Zone 2781.92785.613.690.2813.320.735.424.386.72

1 True thickness is estimated to be approximately 80-85% of drill indicated
2 CuEq and ZnEq calculated using the following metal prices: US$3.15/lb Cu; US$1.38/lb Zn; US$1,291/oz Au; US$16.50/oz Ag and includes provisions for metallurgical recoveries.

Holes MB-18-206 and 206w1 were drilled on the same section targeting the down-plunge portion of the deposit and intersected the massive sulphide lens approximately 120m apart at 900m and 1010m below surface respectively. Both holes returned significant massive sulphide intersections with MB-18-206 intersecting the UWZ and MB-18-206w1 intersecting the lower zinc-rich Zone 2. Hole MB-18-206w1 intersected the Zone 2 massive sulphide within 30m of the lower edge of the currently defined resource on this section. This intersection effectively expands the lower boundary of the Zone 2 massive sulphide in this sector of the deposit and the thickness of the zone (+8m) indicates that there is excellent potential to continue to grow the resource downdip with further drilling.

Hole MB-18-206 returned a 2.66m intersection of the UWZ which graded 7.19% Zn, 1.16% Cu, 17.64 g/t Ag and 0.81 g/t Au, which included a 1.50m interval grading 12.01% Zn, 0.91% Cu, 17.47 g/t Ag and 0.85 g/t Au. The massive sulphide interval was underlain by 3.79m interval of the CSZ grading 1.16% Cu, 1.73% Zn, 12.57 g/t Ag, 0.63 g/t Au. MB-18-206 also intersected massive sulphide mineralization that appears to represent the HWA Lens in the hangingwall stratigraphy. The zone returned 4.98% Zn, 0.17% Cu, 10.73 g/t Ag, 0.26 g/t Au over 1.00m. Multiple intersections into this mineralized horizon have been returned from the winter drill program and this developing exploration target which will be the focus of further work in the future.

Hole MB-18-206w1 represents one of the most significant intersections from the entire program. This hole was wedged off of MB-18-206 at 528m downhole and was directed, with the help of directional drilling techniques, to intersect the massive sulphide near the bottom of the currently defined zone. The hole returned an 8.12m intersection of the Zone 2 massive sulphide grading 9.63% Zn, 0.24% Cu, 29.52 g/t Ag, 0.21 g/t Au, including a 3.08m interval grading 12.92% Zn, 0.28% Cu, 40.43 g/t Ag and 0.19 g/t Au. The massive sulphide was underlain by a 1.73m interval of CSZ grading 1.27% Zn, 1.08% Cu, 19.67 g/t Ag and 0.26 g/t Au. The grade and thickness of this result near the lower edge of the deposit, and the lack of additional drill holes in the area, opens up several hundred metres of strike length for potential expansion of the deposit with further drilling. This will be an area of focus for future drill programs at the deposit.

Hole MB-18-205, the most westerly hole from this tranche of holes, intersected the Zone 2 massive sulphide at approximately 800m below surface in an area of wide spaced drilling. This interval graded 6.81% Zn, 0.31% Cu, 21.50 g/t Ag, 0.22 g/t Au over 1.80m, including a 0.93m interval grading 8.19% Zn, 0.21% Cu, 17.90 g/t Ag, 0.20 g/t Au. The massive sulphide is underlain by 1.34m interval of the CSZ grading 1.30% Cu, 0.35% Zn, 22.05 g/t Ag, 0.12 g/t Au.   

Hole MB-18-208 was the final hole completed during the 2018 winter program. The hole intersected the Zone 2 massive sulphide approximately 680m below surface where it returned a 3.69m intersection grading 5.42% Zn, 0.73% Cu, 13.32 g/t Ag and 0.28 g/t Au, including a 0.66m interval grading 14.26% Zn, 0.97% Cu, 23.20 g/t Ag and 0.63 g/t Au. The massive sulphide horizon was underlain by a 6.76m interval of CSZ in this hole grading 1.49% Cu, 0.93% Zn, 11.83 g/t Ag and 0.54 g/t Au. 

Borehole EM Surveying

A program of borehole electromagnetic (“EM”) surveys has recently been completed on ten drill holes from the winter program. The results of this program are currently being compiled and interpreted. This information will be used to target continued exploration at McIlvenna Bay focused on identifying potential new lenses of mineralization below and/or adjacent to the known resource base and also provide information on the location of more conductive portions of the deposit which could indicate thicker and/or higher-grade sectors within the deposit to target further infill drilling. The results of the EM program will also provide valuable information regarding potential conductors in the upper stratigraphy at McIlvenna Bay which may be associated with the developing HWA lens target and help to focus further exploration drilling.  

The summer drill program is scheduled to commence after spring break-up and is intended to target areas of the deposit that can be drill-tested under summer conditions. Current plans call for at least 11 holes encompassing 7,000m to be completed during the summer program. Additional holes may be added to the planned program if deemed to have potential to expand and/or upgrade the known McIlvenna Bay resource.

Management Change
The Company also announces the departure of David Fleming, Vice President, Exploration, from the Company.  Foran wishes to thank Mr. Fleming for his commitment and dedication to the Company for the last seven years and best of luck in all his future endeavours.

Quality Assurance and Quality Control
Drilling was completed using NQ size diamond drill core and core was logged by employees of the Company. During the logging process, mineralized intersections were marked for sampling and given unique sample numbers. Sampled intervals were sawn in half using a diamond blade saw. One half of the sawn core was placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. Sample assays are performed by TSL Laboratories Ltd. (“TSL”) in Saskatoon, Saskatchewan. TSL is a CAN-P-1579, CAN-P-4E (ISO/IEC 17025:2005) accredited laboratory and independent of Foran. Analysis for Ag, Cu, Pb and Zn is performed using atomic absorption spectrometry (“AA”) after multi-acid digestion. Au analysis is completed by fire assay with AA finish. Any samples which return results greater than 1.0 g/t Au are re-run using gravimetric finish. A complete suite of QA/QC reference materials (standards, blanks and pulp duplicates) are included in each batch of samples processed by the laboratory. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data.

About Foran Mining
Foran is a zinc-copper exploration and development company with projects located along the Flin Flon Greenstone Belt. The McIlvenna Bay Project, Foran’s flagship asset located within the Hanson Lake District, is part of this world class VMS belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran’s ground in eastern Saskatchewan, a distance of over 225 kilometres and just 65 kilometres from Flin Flon. McIlvenna Bay is one of the largest undeveloped VMS deposits in Canada. The Company is currently conducting a resource definition and infill drilling program in preparation for producing a feasibility study on the McIlvenna Bay deposit.

On December 4, 2017, Foran announced the execution of a Technical Services Agreement with Glencore Canada Corporation (“Glencore”).  Glencore has agreed to provide technical expertise and advice in order to advance the McIlvenna Bay deposit to feasibility in exchange for an off-take agreement on the metals and minerals produced from the deposit.

On November 12, 2014, Foran announced a positive preliminary economic assessment (“PEA”) for McIlvenna Bay, with an estimated pre-tax NPV7% of $382M ($263M after-tax) & 22% IRR (19% after-tax) at a Zinc price of US$1.06/lb. Spot Zinc price today is US$1.40/lb.  See below and Foran’s news releases from November 12 and December 22, 2014 for important disclosures with respect to the McIlvenna Bay PEA.

The PEA is considered preliminary in nature and includes mineral resources, including 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. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.

Roger March, P.Geo., Vice President, Project Exploration for Foran and a Qualified Person within the meaning of National Instrument 43-101, has reviewed and approved the technical information in this release.

Foran trades on the TSX.V under the symbol “FOM”.

For additional information, please contact Foran Mining Corporation:

Patrick Soares
President & CEO
904 – 409 Granville Street
Vancouver, BC, Canada, V6C 1T2
Phone: +1 604-488-0008

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Foran’s objectives, goals or future plans, statements regarding the Technical Services Agreement and, if a feasibility study will suggest an economically viable project, estimation of mineral resources, exploration results, and potential mineralization,. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, work performed under the Technical Services Agreement related to preparation of a feasibility study, the failure of such study to suggest an economically viable project, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in Foran’s public documents filed on SEDAR. Although Foran believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Foran 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.

A photo accompanying this announcement is available at

A photo accompanying this announcement is available at


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Mining Stocks Directory

Listed Mining Companies on TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges


49 North Resources Inc. ( TSX:FNR.V ) is a Saskatchewan focused resource investment company with strategic operations in financial, managerial and geological advisory services and merchant banking. Our diversified portfolio of assets includes direct project involvement in the resource sector, as well as investments in shares and other securities of junior and intermediate mineral and oil and gas exploration companies.

A-Cap Resources ( ASX:ACB.AX ) engages in the exploration of mineral properties primarily in Australia and Africa. It principally explores for uranium.Through A-Cap’s extensive exploration program it has achieved its goal of becoming the first company to produce a compliant resource in Botswana from the Letlhakane and Serule Projects. The Company firmly believes that as further exploration dollars are spent in Botswana it will become a significant contributor to the world uranium inventory.

Abacus Mining & Exploration ( TSX:AME.V ) is an exploration and mine development company with a 43-101 compliant positive preliminary economic assessment report (June 22, 2009) for its Ajax copper-gold project located 10 km southwest of Kamloops, British Columbia. Sensitivity analyses therein indicate a NPV of $1.46 billion discounted 8% over a 23 year mine life, with an IRR of 35.4%, cash costs of $0.90 per pound copper, and payback of 2.0 years using metal prices approximating US$3.00 per pound copper and US$1,000 per ounce gold. The Ajax extension remains open along strike and at depth. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Abbastar Resources Corp . ( TSX:ABA.V ) is an aggressive junior exploration company focused on identifying high potential gold deposits in politically stable, mining friendly districts. Abbastar's present focus is its high-grade Talbot Lake project, located within the world-renowned gold producing region, the Uchi Subprovince of North Western Ontario, Canada.

Abcourt Mines ( TSX:ABI.V ; OTCPK:ABMBF ) is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder Mine with 43-101 gold resources, the Abcourt-Barvue Project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. At the same time the company is working on other projects (Aldermac, Jonpol and Vendome) to increase its mineral resources inventory. A 43-101 resource calculation was completed in July, 2009, for the Elder Mine. A positive 43-101 feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was purchased.

Aberdeen International ( OTCPK:AABVF ) is a publicly-traded global resource investment and merchant banking company focused on small cap companies in the Resource sector. We have a highly Experienced Management Team with a Global network to generate deal flow. Our Team has raised and financed over $1 Billion in the last five years in the Mining and Resource sector

Abington Resources Ltd. ( TSX:ABL.V ) is engaged in the acquisition, exploration, development and production of precious metals and natural resources.

Abitex Resources Inc. ( TSX:ABE.V ) is an exploration company based in Val d'Or, Quebec which is focused on acquiring and advancing uranium properties in Quebec.

ABM Resources Ltd ( ASX:ABU.AX ) explores for various mineral properties, principally gold, uranium, zinc, lead, and copper in Australia, Mozambique, and Zambia. Its principal properties include Mimosa gold property in Mozambique; Broads Dam, Erayinia, Gascoyne, and Harbutt Range properties in Western Australia; and Myunga and Kandole Hill copper and gold properties in Zambia.

Abzu Gold Ltd. ( TSX:ABS.V ) is a gold exploration and development company working in Ghana, Africa's 2nd largest gold producer and host to some of the world's largest gold deposits. Ghana has strong land title laws and is one of the world's most mining-friendly jurisdictions. Abzu has invested several years developing local and national relationships, key to its strategic land position on over 360 square kilometres of highly sought after and productive gold belts.

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