Core Insights - Dakota Gold Corp. is advancing its Richmond Hill Heap Leach Oxide Gold Project towards an Initial Assessment with Cash Flow (IACF) expected in mid-2025 and a Feasibility Study anticipated in early 2027 [1][7] - The company has a cash balance of $47 million as of March 31, 2025, fully financing the IACF and the subsequent Feasibility Study [3] - The Maitland Gold Project is also being developed, with an initial inferred gold resource assessment expected to be completed in fall 2025 [4] Richmond Hill Project - Richmond Hill is one of the largest undeveloped oxide gold resources in the U.S. being advanced by a junior mining company [3] - The project is supported by a consultancy group and is expected to make significant progress in 2025 and into 2026 [5] - The company is currently drilling approximately 80,000 feet (24,384 meters) in 2025, focusing on metallurgical samples and resource expansion [7] Maitland Gold Project - The Maitland Gold Project is assessing exploration data from the JB Gold Zone and Unionville Zone to outline an initial inferred gold resource [4] - The JB Gold Zone has reported high-grade intersections averaging 10.76 g/t Au over 4.0 meters, while the Unionville Zone averages 4 g/t Au over 6.4 meters [4] Leadership and Corporate Structure - Recent additions to the Board and senior management include Todd Kenner, Kevin Puil, Jack Henris, and Amy Koenig, enhancing the company's leadership capacity [5] - The company emphasizes a strong safety record with no loss time incidents over the past four years [5] Feasibility Planning - Dakota Gold has engaged various consulting groups for the IACF and Feasibility Study, with M3 Engineering as the overall Study Manager [7] - The Feasibility Study is expected to be completed in 2027, focusing on a 30,000 ton per day crushing circuit [7]

TORONTO, May 16, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide an update on its ongoing 25,000 metre diamond drill program initially announced on January 22, 2025 at the Company’s Goldboro Project in Nova Scotia (“Goldboro”). The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of Inferred and In ...

Core Viewpoint - Liberty Gold Corp. has initiated feasibility fieldwork at its Black Pine Oxide Gold Project in southeastern Idaho, marking the start of a formal feasibility study, with technical data collection supporting engineering studies planned for Q4 2025 [1][6]. Group 1: Feasibility Study and Environmental Impact - The feasibility study for Black Pine will begin in Q4 2025, with baseline studies currently underway to complete an extensive environmental dataset [1]. - The draft Environmental Impact Statement (EIS) for Black Pine is also set to commence in Q4 2025 [1]. Group 2: Drilling and Resource Development - A reverse circulation (RC) exploration drill is currently active, with a second drill rig expected by the end of May, as part of a ~40,000-meter drill program aimed at resource upgrades and extensions [4]. - Key drilling objectives include targeting near-surface oxide gold mineralization in the Rangefront zone, infill drilling in the Discovery zone, and resource conversion along the CD to F Zones [4]. - A Sonic drill rig has begun testing the legacy Heap Leach Pad to assess remnant gold ounces, with a program of approximately 1,200 meters planned [4]. Group 3: Metallurgical and Hydrologic Studies - Two phases of metallurgical studies are planned, including a surface bulk sampling program and studies on lower grade oxide composites to evaluate recoveries [4]. - Hydrologic studies will involve monitoring wells and aquifer pump testing to determine hydraulic conductivity of local aquifers [4]. Group 4: Company Overview and Strategic Goals - Liberty Gold focuses on exploring and developing open-pit oxide deposits in the Great Basin, a region known for its prolific gold production [8]. - The company aims to deliver an updated feasibility-level resource by the end of 2025 and a feasibility study in the second half of 2026, positioning Black Pine as a premier gold development project [6].

Core Insights - Osisko Development Corp. reported its financial and operational results for Q1 2025, highlighting significant developments in its Cariboo Gold Project and other initiatives [1][2]. Financial and Operational Highlights - As of March 31, 2025, the company had approximately $77.6 million in cash and cash equivalents, with $35.7 million outstanding under a delayed draw term loan [5]. - The 2025 Feasibility Study (FS) for the Cariboo Gold Project indicates a strong base case with an after-tax NPV at a 5% discount of $943 million and an IRR of 22.1% based on a gold price of $2,400 per ounce [4][10]. - The average annual free cash flow is projected at $158 million, with an average all-in sustaining cost (AISC) of $1,157 per ounce over the life of the mine [4][10]. Project Updates - The Cariboo Gold Project is designed as a low-impact underground operation with an initial capital cost estimated at $881 million and sustaining capital costs of $525 million [10]. - The company is actively pursuing project financing options and aims to commence construction activities in the second half of 2025, targeting project completion by the end of 2027 [10]. - The San Antonio Gold Project is currently under care and maintenance, with plans to re-submit mining permit applications [8]. Upcoming Milestones - Key upcoming milestones include bulk sampling and water management activities scheduled for Q3 and Q4 2025, respectively, with associated costs of $4.1 million and $6.1 million [11]. - The company is also progressing with Phase II regional drilling at the Tintic Project, with expected completion in Q2 2025 [11]. Management Changes - The company appointed Mr. David Rouleau as Vice President of Project Development and Mr. Philip Rabenok as Vice President of Investor Relations during Q1 2025 [5].

Financial Data and Key Metrics Changes - The company reported a net loss of $2,708,000 for Q1 2025, compared to a net loss of $1,073,000 for Q1 2024, indicating an increase in loss primarily due to the absence of a gain from equipment sales and increased Mt Todd expenses [7][8][10] - Cash on hand at the end of Q1 2025 was $15,000,000, down from $16,900,000 at the end of 2024, with no debt reported [11][12] Business Line Data and Key Metrics Changes - Total feasibility and other Mt Todd site costs in Q1 2025 were $1,688,000, with only $150,000 capitalized as development costs, resulting in a net expense of $1,538,000, which was $786,000 higher than Q1 2024 [9][10] Market Data and Key Metrics Changes - The Australian gold price is currently at record highs around $5,000 per ounce, positively impacting the company's profitability as most costs are incurred in Australian dollars [24] Company Strategy and Development Direction - The company is focused on completing the Mt Todd feasibility study by mid-2025, targeting a 60% reduction in capital costs to approximately $400,000,000, with anticipated gold production of 150,000 to 200,000 ounces per year [13][14][17] - The feasibility study aims to create a more financeable project with a smaller initial investment while preserving expansion opportunities [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the current gold cycle and the potential for increased investor interest in the Mt Todd project due to the reduced initial capital costs [22][25] - The feasibility study is expected to serve as a catalyst for value creation and is on schedule and budget [15][39] Other Important Information - The company achieved zero lost time accidents, maintaining a strong focus on safety and environmental stewardship [16] - Management emphasized the importance of compliance with ESG standards and proactive engagement with stakeholders [18][40] Q&A Session Summary Question: Increased interest in Vista and Mt Todd - Management noted renewed interest in the gold equities market driven by gold prices and highlighted strong institutional interest in the Mt Todd project due to reduced initial capital costs [22] Question: Impact of gold prices on profitability - Management confirmed that higher Australian gold prices positively affect profitability, as most costs are in Australian dollars, making the project more attractive [24] Question: Share price valuation concerns - Management acknowledged the disconnect between share price and resource value, attributing it to the high initial capital costs of previous project evaluations and the shift to a smaller scale project to enhance financeability [31][33]

Core Viewpoint - Osisko Development Corp. announced positive results from the optimized Feasibility Study for the Cariboo Gold Project, confirming strong economics for a low-impact underground operation with favorable operating costs and capital requirements [2][3]. Project Overview - The Cariboo Gold Project is a 100%-owned, permitted gold project located in central British Columbia, Canada, designed as a traditional underground operation using mechanized bulk mining methods [2][5]. - The 2025 Feasibility Study (FS) was completed by BBA Engineering Ltd. and adheres to National Instrument 43-101 standards [2]. Economic Metrics - The base case gold price is set at $2,400/oz, with a net present value (NPV) of $943 million and an internal rate of return (IRR) of 22.1% [5][6]. - Under a spot case scenario with a gold price of $3,300/oz, the NPV increases to $2,066 million, and the IRR rises to 38.0% [5][6]. - Average annual free cash flow is projected at $158 million, with $296 million in the first five years [6][9]. Production and Costs - The project anticipates an average annual production of approximately 190,000 ounces of gold over a 10-year mine life, with first gold expected in the second half of 2027 [6][34]. - The average all-in sustaining costs (AISC) are estimated at $1,157/oz, placing the project in the lower half of the global cost curve for gold mines [6][9]. Improvements from Previous Studies - The 2025 FS incorporates significant improvements over the 2023 FS, including a streamlined processing facility and enhanced metallurgical recovery, resulting in an overall gold recovery of 92.6% [6][7][50]. - The average stope size has increased by approximately 60%, reducing the total number of stopes required [11][38]. Capital Expenditures - Initial capital costs are estimated at $881 million, with sustaining capital costs over the life of the mine projected at $525 million [6][69]. - Total cumulative capital costs, including reclamation and closure costs, are estimated at $1,307 million [69]. Permitting and Community Engagement - The project has received necessary permits, including the Environmental Assessment Certificate and Mines Act permits, solidifying its shovel-ready status [72][73]. - The company is committed to engaging with Indigenous nations and local communities to ensure mutual benefits from the project [73][76]. Future Opportunities - There are significant opportunities for further optimization and enhancement of the project's economics, which will be detailed in the forthcoming Technical Report [77][78].

Financial Data and Key Metrics Changes - The company reported a record gross profit of nearly $77 million for the year, an increase of 86% from 2023 [4] - Net attributable profit was just under $19 million, compared to a loss of $4 million in the previous year, reflecting stronger operating cash flow of nearly $42 million compared to just less than $15 million in the previous year [4][5] - The average realized gold price in Q4 was just over $2,600, compared to just under $1,900 in the comparable quarter of the previous year [20] Business Line Data and Key Metrics Changes - Production at Blanket was within guidance, ending the year with 76,656 ounces, a 1.6% improvement compared to 2023 [24] - Production costs at Blanket remained broadly the same at about $19 million, with gross profit increasing to $20 million compared to $11 million in the previous quarter [36] - Bilboes continued to incur losses but is now on care and maintenance, with minimal impact on overall performance [52] Market Data and Key Metrics Changes - The company experienced a stabilization of the local currency, the ZiG, in Q4, which contributed to a reduction in net foreign exchange losses to only $600,000 in the quarter [46] - The effective tax rate remains high due to structural inefficiencies, with a combination of income tax, deferred tax, and withholding tax affecting overall profitability [107] Company Strategy and Development Direction - The company plans to extend the timeline for the feasibility study for Bilboes to optimize project economics and explore new development options [6][62] - There is a focus on maintaining stable production at Blanket and investigating near-term growth opportunities across the portfolio, including Blanket, Bilboes, and Motapa [78] - The company aims to maximize its net present value per share while minimizing equity dilution and exploring funding options for the Bilboes project [70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the substantial improvement in cash generation and mine performance, indicating a positive outlook for 2025 [142] - The company is focused on reducing costs, particularly in labor and electricity, to improve overall efficiency [41][130] - Management acknowledged the challenges posed by electricity supply issues but noted that interventions helped stabilize production towards the end of the year [39][122] Other Important Information - The company declared a dividend of $0.14 for the quarter, totaling $0.56 for the year, with a change in the timing of dividend declarations to streamline processes [7][21] - Significant changes to the Board and management have occurred, contributing to improved operational performance [8] Q&A Session Summary Question: What is the status of the solar power project, the sale of that asset? - The company expects to provide an update sometime this week [85] Question: What is the expected production capacity from the mine? - The COO confirmed that the target is to pull out 800,000 tonnes from the mine [87] Question: How does the resource at Motapa tie into the Bilboes project? - The company will take the necessary time to ensure the best project outcome, considering the potential integration of Motapa into the feasibility study [90] Question: Will the tailings dam strategy change based on concentrate sales? - The strategy may change if permanent permission to export concentrate is granted, affecting the tailings facility setup [94] Question: Is the bank debt down to about $2 million? - The company clarified that net cash exceeds debt, but the strategy remains to have debt in-country and cash out of the country [102] Question: What is the effective tax rate for the company? - The effective tax rate remains high due to structural inefficiencies, with a breakdown provided in the MD&A [107] Question: Are there plans for more retirement expenses in 2025? - Future retirement expenses will be minimal compared to 2024, as the policy will only affect a few individuals each year [118] Question: What are the main cost risks for 2025? - The greatest variable is electricity costs, which are unpredictable and can significantly impact operations [130] Question: What is the strategy regarding concentrate sales and BIOX plant commitments? - The company aims to explore options for exporting concentrate without immediate commitments to a BIOX plant, depending on government flexibility [136]

Financial Data and Key Metrics Changes - The company reported a record gross profit of nearly $77 million for the year, an increase of 86% from 2023 [4] - Net attributable profit was just under $19 million, compared to a loss of $4 million in the previous year, reflecting stronger operating cash flow of nearly $42 million compared to just less than $15 million in the previous year [4][5] - The average realized gold price in Q4 was just over $2,600, compared to just under $1,900 in the comparable quarter of the previous year [20] Business Line Data and Key Metrics Changes - Production at Blanket was within guidance, ending the year with 76,656 ounces, a 1.6% improvement compared to 2023 [24] - Production costs at Blanket remained broadly the same at about $19 million, with gross profit increasing to $20 million compared to $11 million in the previous quarter [36] - Bilboes continued to incur losses but is now on care and maintenance, with minimal impact on overall performance [52] Market Data and Key Metrics Changes - The company experienced a significant increase in revenue due to higher gold prices, contributing to the substantial increase in gross profit [20] - The local currency, the ZiG, stabilized in Q4, leading to reduced foreign exchange losses compared to earlier in the year [46] Company Strategy and Development Direction - The company plans to extend the timeline for the feasibility study for Bilboes to optimize project economics and explore new development options [6][62] - There is a focus on maintaining stable production at Blanket and investigating near-term growth opportunities across the portfolio, including Blanket, Bilboes, and Motapa [78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the stability of the ZiG and improvements in cash generation, indicating a positive outlook for Q1 2025 [142] - The company is focused on reducing costs, particularly in labor and electricity, to improve overall profitability [41][130] Other Important Information - The company declared a dividend of $0.14 for the quarter, totaling $0.56 for the year [7][21] - Significant changes to the Board and management have occurred, contributing to improved operational performance [8] Q&A Session Summary Question: What is the status of the solar power project, the sale of that asset? - The company expects to provide an update sometime this week [85] Question: What is the reliability of production targets from the mine? - The target is to pull out 800,000 tonnes from the shaft, which is considered stable [86][87] Question: What is the timeline for developing a reliable reserve at Motapa? - The company will take as long as necessary to ensure the best project outcome, considering the potential integration of Motapa into the feasibility study [88][90] Question: Will the tailings dam strategy change based on concentrate sales? - Yes, if permanent permission to export concentrate is granted, it could affect the tailings facility setup [93][94] Question: Is the bank debt down to about $2 million? - The company has more cash than debt, but the strategy is to maintain debt in-country and cash out of the country [102] Question: What is the effective tax rate for the company? - The effective tax rate remains high due to structural inefficiencies, with a commercial tax rate in Zimbabwe around 24% [105][107] Question: Are there plans for more retirement expenses in 2025? - Future retirement expenses will be minimal compared to 2024, as the policy will only affect a few individuals each year [118] Question: What are the greatest cost risks for 2025? - The most unpredictable cost risk is electricity, particularly if the grid collapses [130]

Restated previous financial statements and non-reliance to the extent set out in this announcement Details of investor and analyst presentation Record Profit, Stable Production and Exploration Success ST HELIER, Jersey, March 31, 2025 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces its operating and financial results for the year ended December 31, 2024 (the "Year"). Caledonia also announces the restatement of previous financial statements due to an error that w ...