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- Geologica Acquires 100% of Lincoln Claims Developing District Play in Prolific Atlin Mining District
Vancouver, British Columbia--(Newsfile Corp. - September 18, 2024) - Geologica Resource Corp. (CSE: GRCM) (FSE: 862) ("Geologica" or the "Company") is pleased to announce the strategic acquisition of the "Lincoln" property ("Lincoln") in the Atlin mining district of British Columbia. Lincoln Claims To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10667/223696_142b7f75c4d79bd4_001full.jpg The Lincoln Property is thought to have the potential of hosting lode gold mineralization. These claims contain similar geology to the producing Otter Creek gold claims 33km to the southwest. Otter Creek has been the recent focus of activity in the Atlin placer camp with the discovery of Lode Gold deposits (1). At Otter Creek Placer mining uncovered significant mineralization in bedrock, resulting in multiple samples of in-situ bedrock gold along Otter Creek. Bonanza grade gold is hosted in quartz veins emplaced along structures in phyllite bedrock. The coarse gold in bedrock supports a new placer source for the Atlin Gold Fields. The findings at Otter Creek are not necessarily indicative to the mineralization on the Lincoln Property. Recent exploration (2019) by the vendor was designed to further verify the potential of the Lincoln Property to host gold mineralization similar to Otter Creek. The Spatial Geo Hydrocarbon survey ("SGH") indicated a Gold anomaly with a rating of 4 out of 6, indicating the zones warrant more work (BC Geological Survey Assessment Report 39153). Drill testing zones with an SGH Confidence Rating of 4.0 (±0.5) have been drill tested and have had successful mineralization intersections. Lincoln Creek and Otter Creek are both covering areas in which the Surprise Lake Plutonic Suite contacts the Cache Creek Complex - where sedimentary, volcanic, and ultramafic rocks have been mapped. Both Spatial Geochemical Hydrocarbon (SGH) and MMI surveys identified gold anomalies. Location The Lincoln Property is situated in the Atlin Mining Division between Gladys Lake (~7 km to the East) and Surprise Lake (~16 km to the SW). Access to the claims is by ATV through a network of historical, unmaintained, and overgrown exploration roads. Abundant water is available for exploration and mining from lakes and creeks. Property Purchase Over the next 5 years Geologica will pay the vendor $105,000, issue 1,000,000 shares to the vendor and conduct at least $213,500 of exploration on the Lincoln. Geologica has committed to use the vendors company or a company approved by the vendor to conduct any exploration work on the property. The vendor has been granted a 2% net smelter royalty. 1% of the royalty may be purchased buy Geologica for $1,000,000. About Geologica Resource corp. Geologica Resource Corp. is a mineral explorer, focused on exploration of copper and critical minerals for electrification. Geologica has an option agreement and purchase agreements for 100% of the mineral claims known as the Topley Copper Project, located in the Babine Porphyry Belt of central British Columbia. The company recently acquired the Titan rare critical minerals/copper/gold property in the Atlin camp and has now added the Lincoln to its Atlin portfolio in northern British Columbia. Further information on Geologica Resource Corp. can be found on the Company's website https://geologicaresource.com/ and on SEDAR at https://www.sedarplus.ca . The accuracy of the technical content of this overview had been reviewed by David Mark P.Geo. David is a Qualified Person as defined under NI 43-101, and a member of the Company's board of directors. He approves the technical content of this press release. Neither the Canadian Securities Exchange ("CSE") nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release. Doug Unwin President & CEO (604) 762-5355 doug.unwin@geologicaresource.com (1) Mihalynuk, M.G., Zagorevski, A., Devine, F.A.M., and Humphrey, E., 2017. A new lode gold discovery at Otter Creek: Another source for the Atlin placers. In: Geological Fieldwork 2016, British Columbia Ministry of Energy and Mines, British Columbia Geological Survey Paper 2017-1, pp. 179-193. Forward-Looking Statements This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "ensuring", "believe", "anticipate", "will", "would" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's plans and objectives with respect to the Topley Project. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to obtain all necessary regulatory approvals, risks and uncertainties inherent in the exploration and development of mineral properties. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws. SOURCE
- Rakovina Therapeutics and Variational AI Announce Drug Discovery Collaboration
Companies will jointly research DNA-damage response kinase targets to identify potential drug candidates for the treatment of cancer VANCOUVER, British Columbia, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc . (TSX-V: RKV) a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies and Variational AI , developer of the Enki™ generative artificial intelligence (AI) platform for drug discovery, announced today a research collaboration aimed at leveraging each company’s expertise to identify and develop novel small-molecule therapies against DNA-damage response (DDR) targets for the treatment of cancer. Under the terms of the agreement Rakovina Therapeutics has been granted an exclusive right to compounds generated by the Enki™ platform against the selected target product profiles and an option to license validated drug candidates for further development. Variational AI will employ the EnkiTM platform to identify novel inhibitors of specific DDR kinase targets selected by Rakovina Therapeutics. Rakovina Therapeutics will synthesize and evaluate the viability of these drug candidates as potential cancer therapies in its laboratories at the University of British Columbia. According to Rakovina Therapeutics Executive Chairman Jeffrey Bacha, “This collaboration is an ideal addition to our already established Deep Docking AI partnership as it expands Rakovina Therapeutics’ pipeline beyond our current focus of developing next-generation PARP inhibitors.” “Leveraging Variational AI’s expertise in kinases where it overlaps with our DDR interest will significantly increase partnering opportunities as ‘big pharma’ maintains a close interest on novel therapies against these targets,” added Bacha. Rakovina Therapeutics will pay a low upfront fee to initiate work against each selected target and a “TPP Fee” upon exercise of its option to acquire rights to drug candidates meeting a pre-specified target-product profile (TPP) and additional payments upon achievement of specified development milestones. Additional financial terms were not disclosed. According to Variational AI CEO Handol Kim, “We are thrilled to be partnering with Rakovina Therapeutics in their quest for lifesaving, cancer drugs. Variational AI is at the forefront of Artificial Intelligence drug discovery and we look towards a successful and lasting partnership. Our unique Enki™ Platform is the first commercially accessible foundation model for small molecules and represents an ideal drug discovery solution for Rakovina Therapeutics for these initial targets and beyond.” Bacha said, “Variational AI will deliver a short list of potential drug candidates within four to six weeks of target selection. We anticipate determining the validity of these novel drug candidates against our target-product profile within 12 to 18 months upon receipt of each Variational AI deliverable.” “We are excited about the potential of this collaboration. The Enki™ AI platform, already used by leading pharmaceutical companies, brings a powerful addition to our AI-driven drug discovery toolkit as we expand our research focus to additional DDR targets," Bacha added. About Variational AI Variational AI has developed Enki™, the first commercially available foundation model for small molecules to enable biopharmaceutical companies to discover novel, potent, safe, and synthesizable lead compounds for a small fraction of the time and cost versus traditional chemistry approaches. To learn more, visit: www.variational.ai . About Rakovina Therapeutics Inc. Rakovina Therapeutics Inc. is focused on the development of new cancer treatments based on novel DNA-damage response technologies. The Company has established a pipeline of novel DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials and obtaining marketing approval for new cancer therapeutics from Health Canada, the United States Food and Drug Administration, and similar international regulatory agencies. Further information may be found at www.rakovinatherapeutics.com The TSXV has neither approved nor disapproved the content of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Notice Regarding Rakovina Therapeutics Forward-Looking Statements: This release includes forward-looking statements regarding the Company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the Company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of the Company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the medical device industry, economic factors, regulatory factors, the equity markets generally and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the Company’s most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company’s profile page at www.sedar.com . For Further Information, Contact: Ira M. Gostin Investor Relations IR@rakovinatherapeutics.com 775-391-0213 SOURCE
- Sixty North Gold Mining Reports Initial Assays Return High-Grade Gold Values up to 62.6 gpt from the A-Zone and DD-Zone
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the " Company" or " Sixty North Gold" ) Sixty North Gold Mining Ltd. has received the first batch of assays from the recently developed A-Zone West Limb and the parallel DD-Zone located 12 m to the west. A second set of samples of the East Limb of the A-Zone were submitted August 27 with results anticipated in late September. The newly recognized DD Zone had seven samples collected with the results as shown below: Sample Date Zone Details Description Gold gpt J089401 2024-07-09 DD Zone muck Quartz with pink alteration 37.5 J089402 2024-07-10 DD Zone 1.3m chp Quartz with pink alteration 6.3 J089403 2024-07-13 DD Zone 30-32 (2m) chp Edge qtz with pink alteration <0.9 J089404 2024-07-13 DD Zone 32-34 (2m) chp Quartz with pink alteration 9.7 J089411 2024-07-22 DD Zone 970 XCE 1m chp Quartz with pink alteration <0.9 J089413 2024-07-23 DD Zone 970 XCE 0.3m chp Quartz with pink alteration vg 62.6 J089417 2024-07-24 DD Zone MR 1.5m chp Quartz with pink alteration <0.9 muck=composite grab sample from blasted rock.chp = chip sample The seven samples average 17.24 gpt gold and have an average measured SG of 2.83 gm/cc over sample widths of 0.3 to 2 m. Figure 1. Fourteen metre slice of an inclined (12% @ 152o) horizontal plane on A-Zone and DD-Zone, Mon Gold Mine. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/222074_e83bff2ad4856b5a_001full.jpg The West Limb of the A Zone had a single sample collected across a 0.3 m width, grading 5.5 gpt. Photo 1. August 2024 Main Ramp, south face showing 2 m wide pink alteration with quartz. DD-Zone. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/222074_e83bff2ad4856b5a_002full.jpg Photo 2. South-facing wall of 970XCE showing west limb A-Zone. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/222074_e83bff2ad4856b5a_003full.jpg The East Limb of the A-Zone has been encountered 32 m east of the West Limb where it exposed over 1 m in the 970 XCE. Samples have been collected and will be reported when they are received. Photo 3. North-facing east limb of A-Zone. Hammer for scale. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/222074_e83bff2ad4856b5a_004full.jpg Dr. Dave Webb, Ph.D., P.Eng., P.Geol., President & CEO, Director stated, "We are very happy to have confirmed the location of the A-Zone quartz veins of a size and grade as to be economically interesting. Our plan was to expose these veins in preparation for the mining and milling planned for 2025. The discovery of the DD-Zone is an unexpected bonus. Additional sampling will refine these results. The DD Zone has returned an average grade of 17.24 gpt from seven samples, ranging up to 62.6 gpt gold/0.3 m. It is exposed over 17 m in the Main Ramp where it averages 2.0 m in width. The face of the Main Ramp hosts the DD-Zone where it is 2 m wide on the west-side of the ramp. The West Limb of the A-Zone is narrower than normal and will be tested along strike to confirm widths and grades. The East Limb of the A-Zone appears to be well mineralized with assays anticipated in late September. A total of 250 tonnes of mineralized material has been placed on a separate pile. The successful completion of this phase will support the company's acquisition and installation of the permitted 100 tpd mill and relevant infrastructure to restart processing on site. Twelve vein samples were submitted for specific gravity analysis (SPG-04) returning an average of 2.83 gm/cc." Samples were collected by D.R. Webb and delivered to Bureau Veritas Laboratories (BVI). All assays were completed by BVI, an independent certified laboratory using PRP70-250 preparation and fire assay (FA530-Au) analytical techniques. Two Certified Reference Standards, one at 9.43 gpt +/- 0.44 gpt gold and one blank at <0.01 gpt gold were submitted and returned acceptable results out of 15 submitted samples. Dr. D.R. Webb, PhD., P.Geol., P.Eng is the Qualified Person and is responsible for the technical details in this release. About the Company The Company is developing mining operations for gold on its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production of the A Zone extracted 15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3, 2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/ . The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023). For more information, please refer to the Company's public filings available on SEDAR+( www.sedarplus.ca ), under the Company's profile. ON BEHALF OF THE BOARD OF DIRECTORS "Dave Webb" Dave Webb, President & CEO For further information, please contact: Dave Webb Tel.: 604 818-1400 Email: dave@drwgcl.com Website: www.sixtynorthgold.com Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements." Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ ( www.sedarplus.ca ), under the Company's profile. Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release. SOURCE
- Sixty North Gold Mining Intersects East Limb of the Rich Gold-Bearing A-Zone
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the " Company" or " Sixty North Gold" ) intersected the East Limb of the A-Zone, exposing a 1.0 m wide quartz vein and silicified zone containing visible gold with associated <2% sulphides, pyrrhotite > pyrite > sphalerite = galena. Galena is typically associated with higher-grade gold values in the quartz veins. The vein was encountered in the 970 Crosscut East (970 XCE) 50 m from the Main Ramp, 42 m east of the West Limb of the A-Zone at elevation 212 AMSL. This is 8 m below the East Stope where 2,085 tonnes grading 25.57 gpt was mined and 16 m below the West Stope where an estimated 12,500 tonnes were mined at a reconciled grade of 30.7 gpt gold (NI 43-101 Technical Report, Webb, 2023). The 970 XCE intersected the East Limb 10 m north of DDH 89-14 25.37 gpt gold / 1.7 m, 18 m north of DDH 89-23 23.86 gpt gold / 1.2 m, and 9 m below DDH 89-7 45.95 gpt gold / 3.1 m. The first batch of samples submitted July 24 have been received, logged, prepared and are undergoing fire assay fusion. They will be analyzed and reported in the first week of September. The second set of samples are currently being collected and will be submitted before the end of the month with results anticipated in the first week of October. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/221106_bcb1a0c8442f4a4b_001full.jpg Dr. Dave Webb, Ph.D., P.Eng., P.Geol., President & CEO, Director stated, "We are pleased to have reached and exposed the two areas on the A-Zone we had targeted, and to have discovered a new gold-bearing quartz vein in the Main Ramp now referred to as the DD-Zone. The geological model we developed has been supported from this work. There are an estimated 2,800 tonnes of the East Limb vein, 5,500 tonnes of West Limb vein, and 18,000 tonnes of DD Zone vein above the 970 XCE. All Zones are open to depth and along strike. The successful completion of this next phase will see the company commence the acquisition and installation of the permitted 100 tpd mill and relevant infrastructure to restart processing on site. Assays from an independent certified laboratory will be reported as they are received and confirmed." Dr. D.R. Webb, PhD., P.Geol., P.Eng is the Qualified Person and is responsible for the technical details in this release. About the Company The Company is developing mining operations for gold on its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production of the A Zone extracted 15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3, 2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/ . The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023). For more information, please refer to the Company's public filings available on SEDAR+ ( www.sedarplus.ca ), under the Company's profile. ON BEHALF OF THE BOARD OF DIRECTORS "Dave Webb" Dave Webb, President & CEO For further information, please contact: Dave Webb Tel.: 604 818-1400 Email: dave@drwgcl.com Website: www.sixtynorthgold.com Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements." Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ ( www.sedarplus.ca ), under the Company's profile. Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release. SOURCE
- Alpha Cognition’s Oral Therapy ZUNVEYL® Receives FDA Approval to Treat Alzheimer's Disease
The Second Oral Therapy Approved This Decade, ZUNVEYL’s Dual MOA Was Designed to Eliminate Drug Absorption in the Gastrointestinal (GI) Tract, Potentially Addressing Certain Tolerability Issues with Leading Alzheimer’s Disease (AD) Medications, Combined with a Long-Term Efficacy Profile ZUNVEYL’s Innovative Approach Targets AD Symptoms Directly, Designed to Provide Patients with Significant Benefits to Cognitive and Global Function and the Ability to Perform Daily Living Activities Alzheimer’s Disease, the Most Common Form of Dementia, Affects Nearly 7 Million People in the United States, including 70% of All Nursing Home Residents and is the Leading Cause of Nursing Home Admissions and Deaths VANCOUVER, British Columbia & DALLAS, July 29, 2024 --( BUSINESS WIRE )-- Alpha Cognition (CSE: ACOG) (OTCQB: ACOGF) (Alpha Cognition "ACI", or the "Company"), a biopharmaceutical company developing novel therapeutics for debilitating neurodegenerative disorders, announces that the U.S. Food and Drug Administration (FDA) has granted approval for ZUNVEYL® (benzgalantamine) previously known as ALPHA-1062, for the treatment of mild-to-moderate Alzheimer's disease. Alzheimer’s disease (AD) is a progressive brain disorder that slowly destroys memory, thinking skills, and eventually the ability to do simple tasks, like carry on a conversation. AD is the most common form of dementia affecting nearly 7 million people, and is the leading cause of nursing home admissions and deaths, with 70% of all nursing home residents suffering with AD. A novel oral therapy, ZUNVEYL has a dual mechanism of action designed to eliminate drug absorption in the GI tract, potentially addressing certain tolerability issues with leading AD medications, combined with the efficacy and long-term benefit profile of galantamine. Tolerability affects therapy adherence, with data showing that 55% of AD patients discontinue their medication after one year, mainly due to GI side effects and insomnia. Medication discontinuation can cause risk to patients themselves, and dissatisfaction and burden among nursing home staff, physicians, and caregivers. ZUNVEYL, a prodrug of AD treatment galantamine and an acetylcholinesterase inhibitor (AChEI), is postulated to exert its therapeutic effect by preventing the breakdown of acetylcholine, the important brain neurotransmitter involved in memory, motivation, and attention functions. It is also an allosteric potentiator of α-7 nicotinic acetylcholine and α4β2 receptors. This action facilitates the release of acetylcholine from the presynaptic neurons, giving clinical significance to its dual mode of action. ZUNVEYL targets AD symptoms, to provide patients with long-lasting benefits to cognitive and global function and the ability to perform daily activities that are impaired by AD. Galantamine, FDA-approved since 2001, has extensive and positive data related to long-term outcomes, demonstrating activity among multiple brain receptors, anti-inflammatory effects, and is associated with improved memory, attention, and a significantly lower risk of death. It also has the strongest effect on cognitive decline in the AChEI class of medications and demonstrated significant risk reduction of developing severe dementia. Due to its prodrug properties, ZUNVEYL is effectively converted into the active moiety of galantamine after it passes through the GI tract, therefore achieving the same therapeutic effects of galantamine. It was also uniquely designed to eliminate drug absorption in the GI tract, potentially addressing certain tolerability issues and has a CNS safety profile that includes no incidence of insomnia. Information about ZUNVEYL’s pivotal clinical studies are included further in this press release, and in the ZUNVEYL prescribing information. "I am very excited about the approval of ZUNVEYL, which we believe offers better tolerability for patients with Alzheimer's disease. We have always believed in the efficacy of galantamine but have been limited in its use due to tolerability issues. To now have an agent with the efficacy of galantamine, but that also offers the hope of better tolerability, will provide physicians a great option to treat patients," said Elaine Peskind, MD, the Friends of Alzheimer’s Research Professor of Psychiatry at the University of Washington School of Medicine. "This advancement marks a meaningful step forward in improving the quality of life for those living with Alzheimer's and their families. As a geriatric psychiatrist specializing in Alzheimer’s disease, I am eager to incorporate this new treatment into our practice and see the positive difference it will make." "The approval of ZUNVEYL is a pivotal moment in the fight against Alzheimer's disease as it is only the second oral AD treatment to be approved in more than a decade. ZUNVEYL was designed to addresses a critical need for a tolerable and effective treatment that can potentially enhance patients' daily lives with improved long-term outcomes," stated Alpha Cognition Chief Executive Officer Michael McFadden. "We are delighted, as this represents a major breakthrough in Alzheimer's treatment, providing hope to millions of patients, families, and caregivers affected by this devastating disease." About the Pivotal ZUNVEYL Clinical Studies ZUNVEYL’s approval was based on chemistry, manufacturing, and controls information and data demonstrating the bioequivalence and tolerability of ZUNVEYL compared to galantamine immediate-release tablets and galantamine extended-release capsules. Importantly, there were minimal adverse events reported in these trials. Efficacy, Tolerability, Safety: The efficacy of ZUNVEYL is based upon 3 bioavailability studies in healthy adults comparing galantamine immediate-release tablets and galantamine extended-release capsules to ZUNVEYL. GI adverse events documented across all studies for ZUNVEYL were less than 2% and no insomnia was observed. Dual Mechanism of Action: While precise mechanism of action is not known, it is believed that ZUNVEYL works through two distinct pathways to enhance neurotransmitter activity and protect neuronal health, leading to improved cognitive and functional outcomes. Long-Term Benefits : Clinical trials for galantamine (ZUNVEYL’s active moiety) have demonstrated sustained improvements in cognitive function and quality of life over extended periods of treatment. Availability ZUNVEYL will be available by prescription in pharmacies nationwide in Q1 2025. Alpha Cognition is committed to ensuring broad access to this innovative treatment and will work closely with healthcare providers, insurers, and patient advocacy groups to support its distribution. "We are excited to launch ZUNVEYL and bring this much-needed treatment option to patients suffering from Alzheimer's disease," said Lauren D’Angelo, Alpha Cognition’s Chief Operating Officer. "Over the coming months, our team will work diligently to prepare for this launch, ensuring that healthcare providers have the information and patients have the resources and support they need. ZUNVEYL offers dual-action benefits with the established efficacy of galantamine and no insomnia. It was uniquely designed to bypass the gut with the potential of minimizing GI side effects. We believe that ZUNVEYL’s unique combination of these attributes will make a meaningful difference in the lives of those affected by this debilitating disease. We look forward to collaborating with our partners to ensure a successful rollout and broad accessibility." About Alpha Cognition Inc. Alpha Cognition Inc. is a clinical stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer’s disease and Cognitive Impairment with mild Traumatic Brain Injury ("mTBI"), for which there are currently no approved treatment options. ZUNVEYL, previously ALPHA-1062, is a novel patented oral Alzheimer’s disease therapy with a dual mechanism of action designed to eliminate drug absorption in the GI tract, potentially addressing certain tolerability issues with leading AD medications, combined with the efficacy and long-term benefit profile of galantamine. As a new generation acetylcholinesterase inhibitor, it was developed to demonstrate a potentially improved GI side effect profile and has a CNS safety profile that includes no incidence of insomnia. While precise mechanism of action is not known, it is believed that ZUNVEYL works through two distinct pathways to enhance neurotransmitter activity and protect neuronal health, leading to improved cognitive and functional outcomes. Separately, ZUNVEYL is also being developed in combination with memantine to treat moderate-to-severe Alzheimer’s dementia, and as an intranasal formulation for Cognitive Impairment with mTBI. For more information about ZUNVEYL, please visit www.zunveyl.com or contact info@alphacognition.com and connect with us on Twitter and LinkedIn . INDICATION ZUNVEYL (benzgalantamine) is a cholinesterase inhibitor indicated for the treatment of mild to moderate dementia of the Alzheimer’s type in adults. IMPORTANT SAFETY INFORMATION INDICATION ZUNVEYL® (benzgalantamine) is a cholinesterase inhibitor indicated for the treatment of mild to moderate dementia of the Alzheimer’s type in adults. IMPORTANT SAFETY INFORMATION Contraindications ZUNVEYL is contraindicated in patients with known hypersensitivity to benzgalantamine, galantamine, or any inactive ingredients in ZUNVEYL. Warnings and Precautions Serious Skin Reactions : Serious skin reactions (Stevens-Johnson syndrome and acute generalized exanthematous pustulosis) have been reported in patients receiving galantamine (the active metabolite of (ZUNVEYL) tablets. If signs or symptoms suggest a serious skin reaction, use of this drug should not be resumed and alternative therapy should be considered. Cardiovascular conditions: Cholinesterase inhibitors, including ZUNVEYL, may have vagotonic effects on the sinoatrial and atrioventricular nodes. These effects may manifest as bradycardia or heart block in patients both with and without known underlying cardiac conduction abnormalities. Syncopal episodes have been reported in association with the use of donepezil. Peptic ulcer disease and gastrointestinal bleeding: Cholinesterase inhibitors, including ZUNVEYL, may increase gastric acid secretion. Patients should be monitored closely for active or occult gastrointestinal bleeding, especially those with a history of ulcer disease or those receiving concurrent nonsteroidal anti-inflammatory drugs (NSAIDs). Genitourinary conditions: Although not observed in clinical trials of ZUNVEYL, bladder outflow obstruction may occur. Pulmonary conditions: Cholinesterase inhibitors, including ZUNVEYL, should be prescribed with care to patients with a history of asthma or obstructive pulmonary disease. Monitor for respiratory adverse effects. Adverse Reactions The most common adverse reactions with galantamine tablets (≥5%) were nausea, vomiting, diarrhea, dizziness, headache, and decreased appetite. Drug Interactions Cholinesterase inhibitors, including galantamine, have the potential to interfere with the activity of anticholinergic medications. A synergistic effect may be expected when cholinesterase inhibitors are given concurrently with succinylcholine, similar neuromuscular blocking agents, or cholinergic agonists such as bethanechol. These are not all of the possible side effects of ZUNVEYL. You can report side effects to the FDA. Visit www.fda.gov/MedWatch or call 1‑800‑FDA‑1088. Please click here for Full Prescribing Information . Forward-looking Statements This news release includes forward-looking statements within the meaning of applicable securities laws. Except for statements of historical fact, any information contained in this news release may be a forward‐looking statement that reflects the Company’s current views about future events and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward‐looking statements by the words "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predict," "project," "potential," "target," "seek," "contemplate," "continue" and "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward‐looking statements may include statements regarding the ZUNVEYL efficacy and tolerability, ZUNVEYL long-term benefits, the Company’s timing and planned activities to launch ZUNVEYL, potential timing for the availability of ZUNVEYL, potential future developments of ZUNVEYL, the potential market size for ZUNVEYL , the Company’s business strategy, market size, potential growth opportunities, capital requirements, clinical development activities, the timing and results of clinical trials, regulatory submissions, potential regulatory approval and commercialization of the Company’s products. Although the Company believes to have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The Company cannot assure that the actual results will be consistent with these forward-looking statements. These forward-looking statements are subject to certain risks, including risks regarding our ability to raise sufficient capital to implement our plans to commercialize ZUNVEYL , risks regarding the efficacy and tolerability of ZUNVEYL , risks related to ongoing regulatory oversight on the safety of ZUNVEYL, risk related to market adoption of ZUNVEYL , risks related to the Company’s intellectual property in relation to ZUNVEYL , risks related to the commercial manufacturing, distribution, marketing and sale of ZUNVEYL , risks related to product liability and other risks as described in the Company’s filings with Canadian securities regulatory authorities and available at www.sedar.com and the Company’s filings with the United States Securities and Exchange Commission (the "SEC"), including those risk factors under the heading "Risk Factors" in the Company’s Form S-1 registration statement as filed with the SEC on June 14, 2024 and available at www.sec.gov . These forward‐looking statements speak only as of the date of this news release and the Company undertakes no obligation to revise or update any forward‐looking statements for any reason, even if new information becomes available in the future, except as required by law. SOURCE Contacts For further information: Michael McFadden, CEO Tel: 1-858-344-4375 info@alphacognition.com
- Sixty North Gold Mining Intersects Two Gold-Bearing Quartz Veins During Mining Operation
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the " Company" or " Sixty North Gold" ) Sixty North Gold is pleased to announce that two gold zones have been encountered during development of its wholly-owned Mon Gold Mine. The target of this development, the A-Zone quartz vein has been intersected in the 970E crosscut at elevation 212m AMSL, 16 m below the historic West Stope (shown on the graphic below). Visible gold was noted in a 30 cm wide vein dipping steeply to the west with 3% sulphides, pyrrhotite > sphalerite > galena > chalcopyrite > pyrite (key pathfinder minerals for gold at the Mon Gold Mine) and significant visible gold in a 14 m wide intensely potassic-altered gabbro. The A-Zone is exposed on surface where it extends over 100m in strike. Twenty samples from 10 trenches collected by an independent geologist in this vein averaged 116.34 gpt gold over 1.1 m width (Malahoff, 2017). An estimated 10,000 tonnes of this vein was mined to a depth of 15 m below surface to 228m AMSL and 5,000 tonnes was mined from the east limb of the vein averaging 30 gpt gold (NI 43-101 Technical Report, Mon Gold Property, Northwest Territories, Canada, August 3, 2023, author Dr. D. R. Webb, Ph.D., P.Geol., P.Eng.) Mon Gold Mine Isometric View - Operations to July 21, 2024 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/217288_sixtynorthgoldimage1.jpg The newly reported DD-Zone is located 10 m west of the A Zone and is exposed within the Main Ramp. It is defined by five historic drill holes with grades up to 12 gpt gold over 0.30 m within 1.5 metres grading 3.74 gpt gold and is exposed for 7 m along the west-wall and in the back of the ramp. The DD Zone pinches and swells and sub parallels the A-Zone but dips steeply to the east, averaging 0.3 to 1.2 m in width with 5% sulphides, pyrite > pyrrhotite > sphalerite with trace arsenopyrite and visible gold within a 1 to 2 m characteristic pink alteration enveloping the vein. Mining starting on June 25 and has advanced the Main Ramp 44 m by slash and drift rounds. All services have been installed, all equipment is functioning well with additional equipment on site in case of mechanical issues. There have been no lost-time accidents. Sixty North Gold plans to commence subdrifting north and south on the A-Zone to collect material for stockpiling. We plan to continue the 970 cross cut another 20 m +/- to the east and drive additional crosscuts into the A-Zone quartz vein to expose more of the vein below the historic stopes on the eastern limb. The A-Zone eastern limb was tested by a number of historic drill holes within 20 m of this area including: Table 1 These drill holes are historic in nature and cannot be relied upon but are presented for completeness of this release. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5873/217288_sixtytable1.jpg Samples of the A-Zone and DD-Zone have been collected and submitted to independent certified laboratories for analysis, the results of which will be released as received and confirmed. The Company has also commenced a geotechnical drill program to install thermistors in compliance with its operational licenses. Dr. Dave Webb, Ph.D., P.Eng., P.Geol., President & CEO, Director stated "We are pleased with progress made by an exceptional group of miners, mechanics, service providers, cook/medics, and expeditors. The team has delivered in a most efficient manner and deserves credit for our progress. We have succeeded in exposing the A-Zone in four locations 115 m and 30 m along strike of the East and West stopes respectively and 16 m below these historic stopes. Past production of the A Zone extracted 15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3, 2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/ . "A 100 tpd mill has been sourced and we plan to acquire and install it onto the property to commence recovery of gold as quickly as possible." Maps and photographs can be found on the company's website. Dr. D.R. Webb Ph.D., P.Geol., P.Eng. is the Qualified Person within the meaning of NI 43-101 and is responsible for the technical details of this release. About the Company The Company is developing mining operations for gold on its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production extracted 15,000 tonnes of ore to depths of only 15 m below surface, recovering an estimated 15,000 ounces of gold in the 1990's. The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023). NI 43-101 definitions prohibit the use of the words Ore, Mineral Reserves or Mineral Resources without an independent report on Mineral Resources, a Preliminary Feasibility or Feasibility Study. For more information, please refer to the Company's public filings available on SEDAR+( www.sedarplus.ca ), under the Company's profile. ON BEHALF OF THE BOARD OF DIRECTORS "Dave Webb" Dave Webb, President & CEO For further information, please contact: Dave Webb Tel.: 604 818-1400 Email: dave@drwgcl.com Website: www.sixtynorthgold.com Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ ( www.sedarplus.ca ), under the Company's profile. Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release. SOURCE
- Pegasus Resources Announces Private Placement for up to C$1,500,000
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / July 22, 2024 / Pegasus Resources Inc. (TSX-V:PEGA)(Frankfurt:0QS0)(OTC Pink:SLTFF) (the "Company" or "Pegasus") is pleased to announce its intention to complete a non-brokered private placement for gross proceeds of up to C$1,500,000 (the " Offering "). The Offering will consist of up to 9,375,000 units of the Company (each, a " Unit ", and collectively the " Units ") at a price of C$0.16 per Unit (the " Offering Price "). Each Unit consists of one Common Share (each, a " Common Share ", and collectively the " Common Shares ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant " and collectively the " Warrants "). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.20 per Common Share for a period of 2 years from the closing date of the Offering. The Company will apply to list the Common Shares (including the Common Shares underlying the Warrants and the broker warrants (as described below)) on the TSXV upon closing of the Offering. The net proceeds of the Offering will be used for exploration of the Energy Sands Uranium Project and the Jupiter Uranium Project, both in Utah, USA, and for general and working capital purposes. The Units will be offered and sold by private placement in Canada to "accredited investors" within the meaning of National Instrument 45-106 - Prospectus Exemptions and other exempt purchasers in each province of Canada and may be sold outside of Canada on a basis which does not require the qualification or registration of any of the Common Shares or the Warrants comprising the Units in the subscriber's jurisdiction. The Company may also concurrently offer and sell Units outside of Canada on a non-brokered, unregistered private placement basis to a limited number of "accredited investors" (as defined in Regulation D under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ")) with whom the Company has substantive pre-existing relationships, in reliance on exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws or in other jurisdictions where permitted by law. The common shares, share purchase warrants and shares underlying the share purchase warrants from the Offering will be subject to a four-month-and-one-day statutory hold period from the date of issuance. Closing of the Offering remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange ("TSXV"). The Company may pay finder's fees as permitted by TSXV and applicable securities laws. (the " Closing Date "). This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. About Pegasus Resources Inc. Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.com . On Behalf of the Board of Directors: Christian Timmins President, CEO and Director Pegasus Resources Inc. 700 - 838 West Hastings Street Vancouver, BC V6C 0A6 PH: 1-403-597-3410 X: https://twitter.com/MrChris_Timmins X : https://twitter.com/pegasusresinc E : info@pegasusresourcesinc.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Disclaimer for Forward-Looking Information This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, statements regarding creation of value for Company shareholders, results of operations the size, timing and completion of the Offering, the use of proceeds from the Offering and the listing of the Common Shares (including the Common Shares underlying the Warrants and the broker warrants) on the TSXV upon closing of the Offering. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the COVID-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca . The forward-looking information contained in this press release represents the expectations of Pegasus as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Pegasus may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. SOURCE
- Geologica Acquires 100% of Titan Claims Targeting Copper Polymetalic Veins and Critical Minerals in Prolific Atlin Mining District
Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) - Geologica Resource Corp. (CSE: GRCM) (FSE: 862) ("Geologica" or the "Company") is pleased to announce the strategic acquisition of the "Titan" property ("Titan") in the Atlin mining district of British Columbia. These claims are adjacent to the Llewellyn Fault Zone (LFZ), a major crustal-scale structure extending over 150 kilometers and known to host several gold, silver, and base metal showings, including the past-producing Engineer and Mount Skukum gold mines. Exploration at Titan is primarily focused on polymetallic vein systems potentially associated with splays off the highly prospective Llewellyn Fault Zone. Table 1 displays select grab samples taken in 2018 from the Buchans Creek showing in the north-central part of the property. Table 1. Select 2018 Grab Samples from Buchans Creek Showing To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10667/215983_ab28bf8d446ce8ad_001full.jpg The Buchans Creek showing is a high-grade polymetallic vein measuring 1-1.5 meters wide. This vein has been observed at three distinct locations along the surface and has been traced for 10-20 meters at each exposure. The vein is enriched in gold, silver, copper, lead, zinc, antimony, and tellurium. 2018 sampling results returned up to 11.4 g/t Au, 0.81% Cu, >100 g/t Ag, >0.2% Sb, and >0.1% Te . Airborne magnetic and EM surveys have traced an anomalies extending from the Buchans Creek showing for 2 kilometers south-southeast, overlapping with the historical Rupert I showing, which contains historical grab samples grading up to 4.1 g/t Au, 237.6 g/t Ag, 11.8% Pb, and 0.60% Zn. Critical Mineral Significance While historical exploration at Titan primarily focused on precious and base metals, recent sampling has identified elevated levels of antimony and tellurium. These elements are classified as critical minerals by the Canadian and U.S. governments due to their essential uses and supply constraints. Antimony, a strategic critical mineral, is primarily produced in China and Russia, accounting for 70% of global production. With no antimony production in North America, the development of domestic supplies is critical. Analysts predict that global demand "cannot be met from current supplies" in the coming years. Antimony is crucial for military applications, digital circuitry, and next-generation liquid metal batteries, which are key to scalable energy storage for renewable sources like wind and solar power. The growing demand and limited supply have driven prices to record highs: Shanghai Metals Exchange data shows antimony ingot prices in China reached 127,500 yuan ($17,588.88) per metric ton on May 29, 2024, a 56% increase in 2024 alone. European prices have also surged to a record $21,000 per ton, a 75% increase this year. Tellurium, another strategic critical mineral, is one of the least common elements on Earth. With an average concentration of only 3 parts per billion in most rocks, it is rarer than rare earth elements and eight times less abundant than gold. Historically, tellurium was used in metallurgy as an additive to steel and copper, lead, and iron alloys. Today, it is primarily used for manufacturing films essential for photovoltaic solar cells. Alloyed with cadmium, tellurium forms a compound with enhanced electrical conductivity, enabling thin films to efficiently convert sunlight into electricity. As of June 18, 2024, the spot market price for tellurium is $87,000 USD per tonne, up over 20% from its low in October. This represents a substantial increase from the average annual price of $38,000 USD per tonne in 2017. Notably, between 2017 and 2021, the U.S. imported 95% of its annual tellurium requirements. Location The Titan Property is located 35 km southwest of Atlin in the northwest corner of British Columbia. History In 1899, the Rupert and White Moose polymetallic veins were discovered along the western shore of Tagish Lake's Taku Arm opposite the Engineer Gold Mine. These were explored by trenches, adits, and shafts. In 1904, 840 kg of sorted ore from the White Moose quartz veins assayed 0.78 oz/t Au, 50.34 oz/t Ag, 7.36% Cu, 3.85% Zn, 4.79% Pb, and 1.37% Sb (Minister of Mines Annual Report, 1904). After 1918, economic and logistical challenges halted further exploration within the Titan property until the 1970s. It should be noted that these lakeshore showings are located off the current Titan property to the east. From 1979 - 1990, United Keno Hill Mines Limited (UKHM) and Placer Dome explored the property with fieldwork directed towards assessing gold-silver vein potential on White Moose Mountain. This work identified 11 polymetallic vein occurrences. The claims being acquired host the most promising of the 11 prospects, the Rupert and Buchans Creek prospects. In 2003, Eagle Plains Resources optioned the Titan property. From 2003-2014, Eagle Plains conducted several work programs consisting of geological mapping, soil sampling, rock sampling, an airborne magnetic and radiometric survey, a SkyTEM survey. Exploration Plans Assay data has been compiled for over 1,000 soil samples and 300 rock samples. The Company has also obtained previously flown SKYTEM survey data. This information will aid new exploration efforts, focusing on the Rupert - Buchans Creek trend. Much of the area between the two showings is located in a plateau area covered by talus and reworked glacial moraine material mixed with talus fines, silt, and clay. Geophysics will be used to explore this area in more detail. Doug Unwin, CEO and President of the Company, stated, "We are very excited with the addition of the Titan Property to Geologica's property portfolio. This addition enhances the company's Topley copper/gold project, adding rare critical metals to the portfolio and significant value." Property Purchase The Company will pay the vendors $3,000 once the title to the claims has been transferred to the Company by the vendor. Geologica has committed to use the vendors company or a company approved by the vendor to conduct any exploration work on the property. The vendor has been granted a 2% net smelter royalty. 1% of the royalty may be purchased buy Geologica for $1,000,000. One of the vendors is not arms length to Geologica. Figure 1. Satellite Image of the Titan Property To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10667/215983_ab28bf8d446ce8ad_002full.jpg The Company has engaged Frontier Merchant Capital Group to provide investor awareness. FronTier's Flex Marketing, is an industry leading, cross-media marketing program. Flex Marketing offers comprehensive IR and media marketing solutions to small and midcap companies seeking to create corporate awareness. The Flex Marketing service allows clients to choose and combine from a dozen industry leading media add-on partner services. Along with FronTier's traditional roadshow and IR services. The contract is for six months at a cost of $54,000. About Geologica Resource corp. Geologica Resource Corp. is a mineral explorer, focused on exploration of copper and critical minerals for electrification, building shareholder value through the acquisition of projects with significant technical merit. The Company has an option agreement and purchase agreements for 100% of the mineral claims known as the Topley Project, located in central British Columbia. The company has now acquired the Titan rare critical minerals/copper/gold property. The Company continues to evaluate additional properties to explore. Topley Copper Claims Geochemistry has identified high priority copper exploration target areas and a kilometer-scale VMS target area aligned with regional magnetic targets The region is known for its large porphyry, copper/gold, and copper/molybdenum deposits including past producing copper mines, Granisle and Bell The property is on trend with the recent NAC discovery (1.09% Cu over 300M) in the Babine Lake Porphyry camp as well as the Duke deposit The property is located in central BC, is Road Accessible, Near required labour and expertise and Cost effective to explore. BC Hydro power lines transect the property and several water sources are available on the property Porphyries contain the largest reserves of Cu and close to 50% of Au reserves in B.C. Topley Copper Property consists of 10 mineral claims totaling over 4,2163,400 Ha with known prospects and showings. Previous drilling on the claims has indicated intense hydrothermal alteration with Ag, Pb, and Zn mineralization (Dunning 2000). Sporadic regional till samples in the area are in the 90th percentile for As, Sb, Pb and Zn. Further information on Geologica Resource Corp. can be found on the Company's website https://geologicaresource.com and on SEDAR at https://www.sedarplus.ca The accuracy of the technical content of this overview had been reviewed by David Mark P.Geo. David is a Qualified Person as defined under NI 43-101, and a member of the Company's board of directors. He approves the technical content of this press release. Neither the Canadian Securities Exchange ("CSE") nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release. Doug Unwin President & CEO (604) 762-5355 doug.unwin@geologicaresource.com Forward-Looking Statements This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "ensuring", "believe", "anticipate", "will", "would" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's plans and objectives with respect to the Topley Project. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to obtain all necessary regulatory approvals, risks and uncertainties inherent in the exploration and development of mineral properties. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws. Dunning, J. K. (2000). 1999 Diamond Drill Program Report on the Len and Ful Property. Hudson Bay Exploration & Development Co. Retrieved from https://apps.nrs.gov.bc.ca/pub/aris/Report/26329a.pdf/ SOURCE
- Galantas Gold Announces Planned Solar Power Generation Facility at Omagh Gold Project, Northern Ireland
TORONTO, July 10, 2024 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce that it has agreed in principle to a proposal from G&F Phelps Ltd. to develop a solar power facility at the Cavanacaw Gold Mine at the Omagh Project in County Tyrone, Northern Ireland. The two-megawatt facility, with battery storage, is expected to significantly boost power generation on site and provide lower cost power than existing diesel generation, at a significantly lower carbon footprint. “On-site solar power generation can reduce mine operating costs, lower our carbon footprint and reduce the requirement for fuel transportation onto the…” The proposal anticipates G&F Phelps renting rehabilitated land comprised of former tailings cells and a filled southern section of the former open pit. G&F Phelps is expected to provide the majority of capital required for the project, recouping the cost from the power generated. The proposal is subject to a detailed cost study, impact assessment and planning permission from regulatory authorities. Surplus power from the solar facility is expected to be exported to the local grid. G&F Phelps is a shareholder of Galantas, to which it has also provided loan finance. It is controlled by former Galantas CEO, Roland Phelps. Mario Stifano, CEO of Galantas, commented: “On-site solar power generation can reduce mine operating costs, lower our carbon footprint and reduce the requirement for fuel transportation onto the project site, resulting in fewer traffic movements locally. It is a “win-win” for the Company and the environment.” 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. About Galantas Gold Corporation Galantas Gold Corporation is a Canadian public company that trades on the TSX Venture Exchange and the London Stock Exchange AIM market, both under the symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The Company's strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh Project in Northern Ireland, and exploring the Gairloch Project hosting the Kerry Road gold-bearing VMS deposit in Scotland. Enquiries Galantas Gold Corporation Mario Stifano: Chief Executive Officer Email: info@galantas.com Website: www.galantas.com Telephone: +44(0)28 8224 1100 Grant Thornton UK LLP (AIM Nomad) Philip Secrett, Harrison Clarke, Elliot Peters Telephone: +44(0)20 7383 5100 SP Angel Corporate Finance LLP (AIM Broker) David Hignell, Charlie Bouverat (Corporate Finance) Grant Barker (Sales & Broking) Telephone: +44(0)20 3470 0470 Forward-Looking Statements This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including results of exploration and mine development programs at the Omagh Project and Gairloch Project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’ actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’ forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this news release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this news release, except as required by law. SOURCE
- Pegasus Resources Significantly Expands Land Package by Securing Exclusive Rights to Jupiter Uranium Project
VANCOUVER, BC / ACCESSWIRE / July 10, 2024 / Pegasus Resources Inc. (TSXV:PEGA)(Frankfurt:0QS0)(OTC PINKSLTFF) (the "Company" or "Pegasus") is pleased to announce that on July 3, 2024 the Company finalized an agreement (the "Agreement") with KD Prospect (the "Vendor") to acquire an undivided 100% right, title, and interest in the Jupiter Project ("Jupiter Project"), a strategic uranium Project located in Emery County, Utah, USA. This acquisition is subject to the terms and conditions specified in the agreement. "The acquisition of the Jupiter Project, along with our Energy Sands Project, presents an exceptional opportunity for Pegasus and our investors." stated CEO Chris Timmins, "Energy Sands holds the potential for a discovery, supported by recent ground program findings and historical drilling data indicating a mineralized paleochannel. Meanwhile, Jupiter provides an advanced property with historical drilling, which will be instrumental in developing a future resource estimate. Together, these Projects offer a unique chance for investors to participate in both the development of a new resource and the excitement of a potential discovery." The Jupiter claim group is located 3 kilometers north of Energy Sands and consists of 48 unpatented claims situated in part, in sections 10 and 15, Township 21 S. Range 14 E. SLPM, Emery County, Utah. The claims occur in the Bureau of Land Management, and access is obtained over a well-maintained service road which joins I-70 near Green River, Utah. The Jupiter Project was previously held by Atlas Minerals from 1972 to 1983. During this period, the claim group consisted of 25 unpatented claims. Atlas Minerals conducted approximately 100+ drill holes on the Jupiter Project with the greatest density occurring in the vicinity of the northeast corner of section 15. The extensive drilling and exploration activities conducted by Atlas Minerals demonstrated significant potential, and the project was considered a viable mineral resource. Atlas Minerals was advancing the project towards full-scale mining before the collapse of the uranium market in the early 1980s. The historical drill logs reveal promising results, with notable uranium intercepts. Pegasus will utilize the valuable information provided to guide our exploration program. Our goal is to create a resource estimate in accordance with the current CIM Definition Standards on Mineral Resources and Mineral Reserves. The historical data underscores the project's potential for substantial uranium mineralization. Terms of the agreement: Issuance of Shares: Pegasus will issue 2,200,000 common shares ("Consideration Shares") to the Vendor within 10 business days following TSX Venture Exchange approval of the Agreement. Cash Payments: The Company will make a payment of $25,000 USD to the Vendor within 30 days of signing the Agreement. Additionally, subject to TSX Venture Exchange approval, a further payment of $75,000 USD will be made on or before the earlier of November 1, 2024, or 10 business days following the closing of a Private Placement. By the Company. Pegasus commits to conducting a drilling program totalling 1500 meters on the Jupiter Project within 30 days following the first anniversary of the Agreement. Upon completing these payments and satisfying all obligations outlined in the Agreement, Pegasus will have earned a 100% interest in the Jupiter Project. This interest is subject to Resource Bonuses (as defined below) and a Net Smelter Return Royalty in favour of the Vendor. Figure 1: Utah Property Map Exploration Data and Future Plans: Pegasus is committed to advancing its exploration projects and enhancing shareholder value. As part of these efforts, the Company intends to conduct the necessary work to create a resource estimate in accordance with the current CIM Definition Standards on Mineral Resources and Mineral Reserves. The exploration strategy includes twinning historical drill holes, a geological relog of old drill holes, and defining new drill targets. These activities are aimed at both expanding the known resources and discovering new mineralization zones. This integrated approach is expected to refine the geological model of the Jupiter Project and significantly contribute to the understanding and development of the Jupiter Project. Figure 2: Historical Drill Hole Locations Resource Bonus and NSR Royalty : As Pegasus establishes additional uranium resources on the Jupiter Project, the Company will pay the Vendor a Resource Bonus of USD $100,000.00 for every increment of 500,000 lbs of uranium up to 2,500,000 lbs, as discovered on the Jupiter Project. The first Resource Bonus payment will be due within 90 days from the date the initial Resource Calculation exceeding 475,000 pounds of uranium is issued. The vendor will retain the Net Smelter Return (NSR) royalty on the resource. Historical Overview of Uranium Mining in the San Rafael River (Tidwell Bottoms) District: The San Rafael River (Tidwell Bottoms) district, located in the Green River mining area in eastern Emery County, played a pivotal role in the history of uranium and vanadium production. Operating from around 1948 to the mid-1980s, this district emerged as a major U-V producer, ranking among the largest uranium producers in the state. The historical narrative of uranium mining in the Tidwell Mineral Belt, particularly within the district encompassing the Snow and Probe mines, reflects a significant era of mineral exploration and production. These mines, alongside others such as the Black Panther, Incline No. 14, and Sahara, were central to the region's economic development during this period. The district's geological setting proved ideal for sandstone-hosted, trend-type uranium deposits, characterized by their peneconcordant nature and channel-controlled mineralization primarily within the upper sandstone sequence of the Salt Wash Member of the Upper Jurassic Morrison Formation. Atlas Minerals played a pivotal role in the district, operating the Snow and Probe mines until their closure in 1982. The Snow Mine, operated by Atlas Minerals, began production in 1973 and closed in 1982. It produced a substantial 650,292 pounds of U3O8 at an average grade of 0.188% U3O8. The Probe Mines commissioning is not directly mentioned in the source data, but it closed in 1982, yielding 293,985 pounds of U3O8 at an average grade of 0.186% U3O8, according to data compiled by Wilbanks in 1982. The Snow and Probe mines stood out as two of the largest and most productive in the district. Continued exploration drilling in the late 1970s and early 1980s, particularly along the northeast extension of the Snow and Lucky Mines mineralization, led to the discovery of several new mineralized zones and deposits. One notable discovery was the Deep Gold deposit by Pioneer Uravan, which was identified between 1979 and 1981. This period saw the cessation of production with the closure of these two mines, marking the end of significant uranium mining activity in the area. The Tidwell District presents unique challenges with poorly documented historical work. A good example is the Snow Mine's original resource estimates only used surface drilling data, but the actual production exceeded initial estimates by 455% in tons of ore and 281% in pounds of U3O8. This discrepancy between expected and actual yields underscores the challenges faced in uranium mining, as noted by Wilbanks in 1982, and was a common trend for uranium mineralization in the Green River area. In summary, as quoted by Wilbanks (1982), "In the past most orebodies mined in the Green River (Tidwell District) area have ultimately produced more pounds of U3O8 than calculated in original reserves. In relation to the current transaction, Pegasus confirms that no finder's fee will be paid. Furthermore, it is important to note that there are no relationships involving any Non-Arm's Length Party between the Company, its insiders, and the Vendors of the asset. Additionally, no further information is required to be disclosed under MI 61-101 concerning this transaction. This statement ensures transparency and compliance with the necessary regulatory standards. NI 43-101 Disclosure The technical content of this news release has been reviewed and approved by Trevor Mills, P.G., SME-RM who is a Principal Geologist for Dahrouge Geological Consulting USA Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and/or reviewed the content of this press release. The results discussed in this document are historical. Pegasus Resources nor the qualified person have not performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Property's potential and are relevant for any future exploration program. Mineralization on adjacent Properties and may no be indicative of mineralization on Pegasus Resources Inc. Properties References: UTAH MINERAL INDUSTRY ACTIVITY REVIEW 1981-82 - UTAH GEOLOGICAL AND MINERAL SURVEY a division of Utah Department of Natural Resources Circular 72 May 1984 (Atlas Minerals Engineering Department, 1982; Gordon, 1982; Wilbanks, 1982) Gordon, Gail, 1982, Mine Shut Down Report - Probe and North Snow Mines - Date 7-22-82: Atlas Minerals Engineering Department Unpublished Company Report, 69 p -Wilbanks, Larry, 1982, Closure Report - Atlas Minerals Probe and Snow Mines, Emery County, Utah: Atlas Minerals Unpublished Company Report, p. 56-72. About Pegasus Resources Inc. Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.com . On Behalf of the Board of Directors: Christian Timmins President, CEO and Director Pegasus Resources Inc. 700 - 838 West Hastings Street Vancouver, BC V6C 0A6 PH: 1-403-597-3410 X: https://twitter.com/MrChris_Timmins X : https://twitter.com/pegasusresinc E : info@pegasusresourcesinc.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward Looking Statements Statements included in this announcement, including statements concerning the Company's plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipates," "believes," "intends," "estimates," "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. SOURCE Related Documents: Jupiter map 2 July 2024 NR Jupiter Historical map NR July 2024
- Revive Therapeutics Provides Update From Type C Meeting with FDA for Amended Protocol Agreement of Phase 3 Clinical Study for Bucillamine in the Treatment of COVID-19
FDA recommends additional revised primary symptom-based endpoints Revive to provide amended statistical analysis plan to support unblinding of the data to potentially provide evidence of efficacy TORONTO, March 08, 2023 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” or the “Company”) (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT:31R), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, announces today an update on the Type C meeting written responses received by the Company from the U.S. Food & Drug Administration (“FDA”) to obtain agreement on the proposed protocol endpoints for the Company’s Phase 3 Study (the “Study”) (NCT04504734) to evaluate the safety and efficacy of Bucillamine, an oral drug with anti-inflammatory and antiviral properties, in patients with mild to moderate COVID-19. The FDA recommends that the Company’s proposed primary symptom-based endpoints should cover the evaluation of time to sustained recovery assessed over an appropriate duration, evidence of subjects experiencing resolution of COVID-19 related symptoms and the element of sustained symptom resolution. In addition, the FDA requires the Company to provide a revised statistical analysis plan (the “SAP”) that incorporates the FDA recommendations of the proposed primary symptom-based endpoints for the Study and outlines how symptoms are assessed and with what frequency, how improvement will be defined, and how the endpoint will be analyzed. The Company’s proposed secondary endpoints can also be included in the Study to assess the impact of treatment on how a patient feels, functions, or survives. As a result of the FDA responses from the Type C meeting, the Company plans to amend the SAP and Study protocol incorporating the suggestions of the FDA. Once the FDA accepts the revised SAP and Study protocol, the Data Safety Monitoring Board (“DSMB”) will review the Study’s completed blinded Post-Dose selection data of approximately 500 subjects in accordance with the accepted Study protocol. The DSMB may recommend continuing the Study if there is a trend toward achieving statistical significance, halting the Study early due to statistical significance likely not going to be met, or halting the Study early due to positive efficacy showing statistical significance. Depending on the outcome of the DSMB review, the Company could proceed to unblind the data and request a meeting with the FDA to review the data providing evidence of the potential efficacy of Bucillamine for COVID-19 and determine the next steps. The Company may also pursue additional studies with Bucillamine for Long COVID or COVID-related conditions, and various infectious and respiratory disorders should the data from the Study prove worthwhile. The Study’s proposed primary symptom-based endpoints are partly due to the evolving and current state of COVID-19, where many patients with COVID-19 are either asymptomatic or experience mild to moderate illness and could be managed in the outpatient setting. Patients who would have been at increased risk for progression to severe COVID-19 or require hospitalization during the various variant surges are now being managed less aggressively as outpatients, with close follow-up and monitoring for clinical changes. Based on Bucillamine’s proposed mode of action, it is believed that the speed of symptom resolution and reduced viral shedding, if given promptly, could help mitigate the disease burden globally. The Company is not making any express or implied claims that its product has the ability to eliminate or cure COVID-19 (SARS-2 Coronavirus) at this time. About Revive Therapeutics Ltd. Revive is a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its acquisition of Psilocin Pharma Corp., Revive is advancing the development of Psilocybin-based therapeutics in various diseases and disorders. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation. For more information, visit www.ReviveThera.com. For more information, please contact: Michael Frank Chief Executive Officer Revive Therapeutics Ltd. Tel: 1 888 901 0036 Email: mfrank@revivethera.com Website: www.revivethera.com Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the the Company’s cannabinoids, psychedelics and infectious diseases programs. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2022, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. SOURCE
- Pegasus Reports Historical Utah Data
VANCOUVER, BC—June 04, 2024 – Pegasus Resources Inc. (TSX-V: PEGA: Frankfurt – 0QS0, OTC/Pink Sheet symbol: SLTFF) (the "Company" or "Pegasus") has retained Dahrouge Geological Consulting USA Ltd. (“Dahrouge”) to complete a preliminary geological model based on detailed geological mapping and sampling completed on the Company’s Energy Sands project (the “Property”) located in Utah in Q1 2024 (see press releases dated Jan. 16, Jan. 30 and Mar 25, 2024). The outcome of the ground program provided a detailed geological map inclusive of lithologies, geological structure, mineralization style and controls, along with confirmation of paleochannel structures controlling the uranium and vanadium mineralization present on the Property. Dahrouge used this collected data in conjunction with the 2015 Utah Geological Survey regional map and stratigraphic column (Doelling et al., 2015) as a reference framework to build a preliminary geological model to support Pegasus’ permitting efforts for the planned upcoming drill program in 2024. The generation of the geological model was a crucial step in understanding the Property’s geology and mineralization. This preliminary geological model was then used as a basis to define drill targets for the planned drill program and support and submittal of a Notice of Intent to the Bureau of Land Management (“BLM”) Price, Utah Field Office. As part of the Notice of Intent submittal, all surface disturbances (access roads, drill pads, etc.) must be defined and presented to the BLM. During the generation of the geological model and a Notice of Intent filing, Pegasus was provided with historical drilling data completed on the Property in 1975. This data was inclusive of a drillhole location map, geological logs, downhole geophysical surveys (presented in counts per minute “CPM”) and interval analytical values for uranium and vanadium from eleven (11) drillholes. Dahrouge completed a data compilation and review of the geological logs and drilling location map to evaluate their consistency to what was observed in the field during the mapping campaign. The drillhole map was then georeferenced based on available data, such as topography and state plain section corner, to determine relative historical drillhole locations (Figure 1). The historical drillholes have been overlain on the preliminary geological model to evaluate consistency of the historical logs to the detailed mapping completed during Q1 2024. During the data compilation, Dahrouge also evaluated how the historical analytical results compared to surface grab and paleochannel mineralization. As previously highlighted in (March 25, 2024, press release), the field samples from the area of historical drilling returned values of 3.55% U3O8 and 5.34% V2O5. The historical data in conjunction with geological and analytical data collected by Dahrouge, does provide direct insight into potential mineralization on the Property. The results outlined in Table 1, do provide guidance to interpreted mineralized paleochannel and will be used to help guide future drilling campaigns. Table 1: Historical Drillhole Information In reviewing the historical drillhole data and geologic interpretations, Dahrouge surmised that the historic drill program was following a trend that was interpreted as paleochannel hosting mineralization. This trend matches the structural measurements and mineralization trend hypothesis from Dahrouge’s recent mapping program, helping us to target possible mineral-hosting paleochannels extending throughout the Property (Figure 1). This historic data provides key geological information and when combined with data collected from surface mapping and sampling, guides the generation of the preliminary geological model and drillhole targeting. Figure 1: Map of interpreted paleochannel that historical drilling targeted Figure 2: ESRS-007 sample outcrop. Figure 3: An annotated picture depicting the sedimentary structures that make up the mineralized paleochannels on the Energy Sands Project. NI 43-101 Disclosure The technical content of this news release has been reviewed and approved by Jacob Anderson, CPG, MAusIMM, who is a Resource Geologist for Dahrouge Geological Consulting USA Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and/or reviewed the content of this press release. The results discussed in this document are historical. Pegasus nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Property’s potential and are relevant for any future exploration program. References Doelling, H.H., Kuehne, P.A., Willis, G.C., Ehler, J.B., 2015, Geologic map of the San Rafael desert 30' x 60' quadrangle, Emery and Grand counties, Utah, Utah Department of Natural Resources. About Pegasus Resources Inc. Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.com. On Behalf of the Board of Directors: Christian Timmins President, CEO and Director Pegasus Resources Inc. 700 – 838 West Hastings Street Vancouver, BC V6C 0A6 PH: 1-403-597-3410 X: https://twitter.com/MrChris_Timmins X: https://twitter.com/pegasusresinc E: info@pegasusresourcesinc.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward Looking Statements Statements included in this announcement, including statements concerning the Company's plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipates," "believes," "intends," "estimates," "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. SOURCE