newsreleases2024 - Doré Copper Mining Corp

Dore Copper announces Management changes

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Toronto, Ontario February 26, 2024 – Doré Copper Mining Corp. (the “Company” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) announces the resignation of Vice-President, Exploration Sylvain Lépine, effective March 1, 2024. Mr. Lépine has been appointed General Manager of Nord du Québec Investissement Minier (NQIM), a new regional institutional fund sponsored by SDBJ (Société de développement de la Baie-James) and ARBJ (Administration régionale Baie-James) that will mainly invest in mining exploration companies in the administrative region of Nord-du-Québec. Mr. Lépine will remain a Technical Advisor to the Company to ensure a smooth transition during the search for a new Vice President Exploration.

Ernest Mast, President and CEO of Doré Copper, commented, “On behalf of the Board, we would like to thank Sylvain for his leadership, dedication and contributions to the Company and we wish him well in his new role at NQIM. During the period of management transition, Sylvain will remain a consultant to the Company.” 

About Doré Copper Mining Corp. 

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 Mlbs of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill.1 The Company has delivered its PEA in May 2022 and is proceeding with a feasibility study. 

The Company has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold.2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Company’s Copper Rand Mill. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  1. Sources for historic production figures: Economic Geology, v. 107, pp. 963–989 – Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine). 
  2. Technical report titled “Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada” dated June 15, 2022, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc. 

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the timing and ability of the Company to receive necessary regulatory approvals, the Company’s ability to meet its production target, the commencement, timing and completion of a feasibility study, and the plans, operations and prospects of the Company and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, actual exploration results, 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, uninsured risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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 by law.

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 news release.

Doré Copper increases size of its Joe Mann Property by acquiring a 65% interest in 3,030 hectares

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Toronto, Ontario January 22, 2024 – Doré Copper Mining Corp. (the “Company” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce that it has exercised its right to acquire a 65% interest in certain claims subject to a joint venture with SOQUEM (the “SOQUEM JV Property“), which surround and are adjacent to the Company’s 100% owned Joe Mann Property, pursuant to an earn-in option agreement (the “Option Agreement“) dated January 2, 2020, as amended October 28, 2022, between the Company and Ressources Jessie Inc. (“Ressources Jessie“). SOQUEM holds the remaining 35% interest in the SOQUEM JV Property. 

In accordance with the terms of the Option Agreement, Ressources Jessie will transfer its 65% interest in the SOQUEM JV Property, comprising 69 claims totaling 3,029.6 ha, to the Company for $300,000 in cash and 3,333,333 common shares of the Company at a deemed price of $0.12 per common share, representing $400,000 in common shares. Following this acquisition, the Company has a controlling interest in a contiguous group of claims totaling 6,209.2 ha surrounding the former high-grade Joe Mann gold mine (Figure 1) and part of the southern Chibougamau Camp where Northern Superior Resources Inc. and IAMGOLD Corporation have significant gold mineral resources (Figure 2).   

The acquisition is subject to the acceptance of the TSX Venture Exchange. The common shares issued in connection with the acquisition are subject to a four month hold period under applicable Canadian securities laws which will expire on May 23, 2024.

Ernest Mast, President and CEO of Doré Copper, commented, “With this transaction, we have consolidated a large contiguous group of claims around the former Joe Mann mine in the prolific southern Chibougamau camp. Most of the SOQUEM JV block has not been explored since the late 1990s and numerous gold targets remain to be evaluated on the property. We are looking forward to work with SOQUEM and we plan to commence a detailed review of the historical work and use new geological interpretations to generate high quality exploration targets.” 

Exploration Potential on the SOQUEM JV Property

The Company’s contiguous group of claims (Figure 1) is located in the eastern part of the Abitibi Greenstone belt within the upper part of the Obatogamau Formation, within a major deformation corridor known as the Opawica-Guercheville shear zone. The Company has a 100% interest in the former Joe Mann mine, which produced 1.12 million ounces of gold at an average grade of 8.26 g/t from the 1950s to 2007.1 The deposit has an inferred mineral resource of 680,000 tonnes grading 6.78 g/t Au and 0.24% Cu, which was included in the Company’s Preliminary Economic Assessment (PEA) of its hub-and-spoke operation announced on May 10, 2022.2

The main lithologies encountered are basalts, rhyolites, gabbros and several families of felsic, intermediate and mafic dykes. Two felsic intrusions, La Dauversière and Verneuil, are found respectively to the northeast and northwest of the claim group. The stratigraphy is east-west, dipping sub-vertically, and metamorphosed to the upper greenschist facies (epidote-amphibolite facies). 

A number of gold occurrences and mineralized zones have been identified on the SOQUEM JV Property and are briefly summarized below. An evaluation of all the exploration work conducted on the SOQUEM JV will be completed over the coming months to identify exploration targets. No significant exploration work on the SOQUEM JV Property has been carried out since the late 1990s, except for the Rohault and Norhart gold occurrences where the latest exploration activities took place in 2004. 

Rohault

The Rohault gold occurrence is located north of the former Joe Mann mine and its western extension is located approximately 300 meters north of the mine infrastructures. This structure has been tested by drilling over a 2 kilometer strike length. The Rohault mineralized zone is characterized by quartz-carbonate veins and veinlets which cut mafic lavas and intrusions. The main occurrence contains approximately 15% pyrite and 5% chalcopyrite with several interesting historical drill intercepts: 108.71 g/t Au, 16.85 g/t Ag and 1.4% Cu over 0.6 meter at a downhole depth of 44.95 meters (H-560) and 6.32 g/t Au and 0.37% Cu over 3.6 meters (including 34.5 g/t Au and 0.99% Cu over 0.6 meter) at a downhole depth of 79.2 meters (H-518).1

Norhart

The Norhart gold occurrence is located approximately 1 kilometer north of former Joe Mann mine. The gold mineralization shows similar characteristics to Joe Mann. It is comprised of five parallel quartz vein structures, separated by between 50 and 150 meters over a strike length of approximately 500 meters. Gold mineralization is within quartz veins cutting strongly altered granular felsic dykes or basalts. 

Significant historical drill intercepts in the sector of Norhart include: 65.85 g/t Au, 5.9 g/t Ag over 6.34 meters at a downhole depth of 207.46 meters (H-04-579); 160.50 g/t Au, 9.8 g/t Ag over 0.85 meters at a downhole depth of 235.0 meters (H-04-582); 81 g/t Au, 1.4 g/t Ag over 1.2 meters at a downhole depth of 234.8 meters (H-04-580); 24.65 g/t Au, 17.48 g/t Ag, 0.79% Cu over 1.92 meters at a downhole depth of 256.62 meters (H-04-578), 99.64 g/t Au, 11.8 g/t Ag and 0.12% Cu over 0.3 meter at a downhole depth of 283.85 meters (H-569); 10.04 g/t Au, 16.3 g/t Ag and 0.11% Cu over 1.2 meters at a downhole depth of 521.2 meters (H-535 EXT); 57.65 g/t Au over 0.40 meter at a downhole depth of 264.0 meters (H-550).1 ,3 

Currie-Mills

The Currie Mills (Lac James) gold occurrence is located 3 kilometers east-northeast of the former Joe Mann mine. The mineralized system is parallel to Joe Mann and contains a small historical near-surface resource (not compliant with NI 43-101). Mineralization consists of two lenses (North and South) of disseminated chalcopyrite, pyrite, pyrrhotite and arsenopyrite in centimetric to decimetric quartz-carbonate veins with locally some specks of free gold with altered and sheared non-magnetic coarse gabbros. One significant historical drill hole intercept of 3.9 /t Au over 6.9 meters at a downhole depth of 61 meters (VM87-07) is located 150 meters east of the historical resource.1,4 

Lac Meston

The Lac Meston gold occurrence is located 4.8 kilometers southwest of the former Joe Mann mine. The mineralization is found in a tonalite intrusion. An underground ramp of 305 meters was built in 1974 but did not access the mineralized zone. Significant historical drill hole intercepts include: 18.49 g/t Au over 3.61 meters (M-81-09), 34.21 g/t Au over 1.55 meters (A-12) and 6.92 g/t Au over 6.10 meters (A-14), all of which were at less than 100 meters depth.1,5,6

Adnor

The Adnor mineralized zone, located 3 kilometers west of Joe Mann, consists of a number of east-west subparallel veins within a sequence of pillowed massive basaltic flows injected by a variety of small felsic dykes. A significant drilling campaign was conducted in the early 1950s to define the mineralized zone. The highest drill intercept returned 2,297 g/t Au over 0.30 m (A-10). A subsequent drilling program in the early 1970s returned the following significant results: 14.40 g/t Au over 0.3 meter (N-7-2); 6.86 g/t Au over 0.6 meter (N-6); and 4.80 g/t Au over 1.5 meters (N-7). Highlight from the subsequent late 1980s drilling program include 11.04 g/t over 3.05 meters (H-380).1,7

Noranda – La Dauversière

This mineral occurrence is located approximately 3.5 kilometers east of Joe Mann. Gold mineralization is found in quartz carbonate veins with pyrrhotite-pyrite and chalcopyrite within sheared and altered gabbro. A number of diamond drill holes were completed by several companies prior to the late 1990s and significant results included: 8.16 g/t Au, 2.4 g/t Ag and 0.16% Cu over 0.55 meter (H-223); and 12.3 g/t Au over 1.02 meters (VM-89-26).1

Montgomery 

This mineral showing is located approximately 2 kilometers west of Joe Mann. Gold mineralization is found in quartz veins containing varying amounts of pyrite, scheelite, chalcopyrite and local visible gold within a sheared structure covering a strike length of 475 meters and up to 8 meters wide. Significant historical intersections include: 4.41 g/t Au over 0.27 meter (M-7); 106.10 g/t Au (trench # 1 channel sample); 13.56 g/t Au (trench # 2 channel sample); and 199.66 g/t Au (trench # 4 channel sample).1

Wright Hargreaves

The mineral showing (also known as “Fancamp”) is located 500 meters southwest of the Adnor showing. Gold mineralization is erratic and associated with <1 meter quartz-carbonate+/-tourmaline veins and veinlets with auriferous pyrite in massive and pillowed basalts and co-magmatic magnetic gabbro-sills. Historical trench results include 9.88 g/t Au over 1.0 meter and 6.05 g/t Au over 1.0 meter. The only significant highlight from the latest drilling program (1980s) include 4.50 g/t over 0.60 meter (87-1).1

Lac Antoine

Located near the southwest boundary of the property, the Lac Antoine gold mineralization is associated with northeast trending quartz-carbonate veins containing up to 15% pyrite and minor chalcopyrite within pillow basalts. Historical work only reports high-grade gold assays (10 to +30 g/t Au) from grab samples.1

Bloc Sud

Located near the southwest boundary of the property, the Bloc Sud gold mineralization consists of black quartz veins (+/- sulphides) within a chlorite-sericite-ankerite schist of decametric width at the contact of a basalt-tonalite dyke. An intercept of 1.96 g/t Au over 6.25 meters, including 6.98 g/t Au over 1.35 meters (H-507), was reported from a limited drilling campaign.1

Qualified Person

Sylvain Lépine, M.Sc., P.Geo., Vice President Exploration of the Company and a “Qualified Person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

Figure 1. Joe Mann Property – Land Tenure Map and Main Gold Occurrences

Figure 2. South Chibougamau Area – Land Tenure Map

About Doré Copper Mining Corp. 

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 Mlbs of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill.1 The Company has delivered its PEA in May 2022 and is proceeding with a feasibility study. 

The Company has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold.2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Company’s Copper Rand Mill. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  1. Sources for historic production figures: Economic Geology, v. 107, pp. 963–989 – Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine). 
  2. Technical report titled “Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada” dated June 15, 2022, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc. 
  3. GM 62760: Ressources Meston Inc. Forage Printemps et Automne 2024, Propriete Joe Mann, Secteurs Norhart et Rohault, by Denis McNicholes, geo, dated April 8, 2005.
  4. GM 49329 : Cambior Inc. Rapport de la Campagne de Forages Hiver 1989, Propriété Currie-Mills by Pierre Ouelette, dated April 11, 1989.
  5. GM 29950: Ayarhar Mining Corp.dated December 10, 1973 by S.V. Burr (drill holes, A series).
  6. GM 38101: Ressources Meston Inc. Forage Hiver 1981 Meston-Gamache by Paul Gagne dated May 1981 (drill holes, M series).
  7. GM 49692: Drill logs. Mine Meston 1989.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the timing and ability of the Company to receive necessary regulatory approvals, the Company’s ability to meet its production target, the commencement, timing and completion of a feasibility study, and the plans, operations and prospects of the Company and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, actual exploration results, 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, uninsured risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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 by law.

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 news release.

Doré Copper announces closing of rights offering

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Not for distribution to United States news wire services or for dissemination in the United States

Toronto, Ontario January 2, 2024 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV:DCMC; OTCQX:DRCMF; FRA:DCM) is pleased to announce that, on December 29, 2023, it closed its previously announced rights offering (the “Rights Offering“) to the holders of common shares in the capital of the Corporation (“Common Shares“) at the close of business (Toronto time) on November 28, 2023. The Rights Offering expired at 5:00 p.m. (Toronto time) on December 22, 2023 (the “Expiry Date“). The Corporation issued 33,000,000 Common Shares at a subscription price of $0.12 per Common Share for aggregate gross proceeds of $3,960,000. The net proceeds of the Rights Offering will be used for exploration and development activities and for working capital and general corporate purposes. 

The Corporation issued a total of 11,463,135 Common Shares under the basic subscription privilege and 3,440,126 Common Shares under the additional subscription privilege. Ocean Partners UK Limited (“Ocean Partners“), together with its affiliate, Ocean Partners USA Inc., acquired a total of 6,472,931 Common Shares under their basic subscription privilege and nil Common Shares under their additional subscription privilege. Funds managed by Equinox Partners Investment Management, LLC (“Equinox” and together with Ocean Partners, the “Standby Purchasers“) acquired a total of 3,202,719 Common Shares under their basic subscription privilege and 3,331,018 Common Shares under their additional subscription privilege in lieu of Common Shares available to a certain fund managed by Equinox under its basic subscription privilege. The Standby Purchasers collectively subscribed for an additional 18,096,739 Common Shares pursuant to their standby commitment agreements, with each Standby Purchaser acquiring 50% of such Common Shares.

To the knowledge of the Corporation, after reasonable inquiry, no person that was not an insider of Doré Copper before the distribution under the Rights Offering became an insider as a result of the distribution under the Rights Offering. To the knowledge of the Corporation, after reasonable inquiry, directors, officers and other insiders of the Corporation before the distribution under the Rights Offering, which includes the Standby Purchasers, as a group, acquired 10,110,832 Common Shares under the basic subscription privilege and 3,331,018 Common Shares under the additional subscription privilege for an aggregate of 13,441,850 Common Shares acquired under the Rights Offering, representing total subscription proceeds of $1,613,022.

Other persons, as a group, acquired 1,352,303 Common Shares under the basic subscription privilege and 109,108 Common Shares under the additional subscription privilege for an aggregate of 1,461,411 Common Shares acquired under the Rights Offering, representing total subscription proceeds of $175,369.32.

As of the closing date of the Rights Offering, there are 130,874,099 Common Shares issued and outstanding.

No fees or commissions were paid in connection with the solicitation of the exercise of rights under the Rights Offering.

The participation in the Rights Offering by certain “related parties” of the Corporation, namely, directors, senior officers and persons that have beneficial ownership of, or control or direction over, directly or indirectly, more than 10% of the issued and outstanding Common Shares, constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Rights Offering is not subject to the related party transaction rules under MI 61-101 based on a prescribed exception related to rights offerings.

Neither the rights offered under the Rights Offering or the Common Shares have been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be exercised, offered or sold, as applicable, in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Corporation. There shall be no offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the laws of any such jurisdiction. 

About Doré Copper Mining Corp. 

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill1. The Corporation has delivered its PEA in May 2022 and is proceeding with a feasibility study. 

The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold2. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of the Corporation’s Copper Rand Mill.

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  1. Technical report titled “Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada” dated June 15, 2022, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“). The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc. 
  2. Sources for historic production figures: Economic Geology, v. 107, pp. 963–989 – Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine).

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the anticipated benefits of the Rights Offering, the intended use of proceeds from the Rights Offering, the Corporation’s ability to meet its production target, the commencement, timing and completion of a feasibility study, and the plans, operations and prospects of the Corporation and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the inability of the Corporation to achieve the anticipated benefits of the Rights Offering, the operating expenses of the Corporation for the 12 month period following the Expiry Date, actual exploration results, 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, uninsured risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation 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 law.

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.