Core Viewpoint - The recent metallurgical test work at the Queensway project confirms high gold recovery rates and supports the feasibility study planned for Q4 2025 [1][9][19]. Group 1: Metallurgical Test Work - The program commenced in late 2024, focusing on master composites from the Keats West zone and re-evaluating low-grade samples from various zones [2][5]. - Approximately 660 meters of drill core, weighing 2,700 kilograms, was selected for testing, resulting in three master composites based on carbon content [6]. - The test results showed an average gold recovery of 89.2%, confirming the flowsheet presented in the preliminary economic assessment (PEA) [9][12]. Group 2: Mineralogical Studies - A mineralogical gold deportment study was conducted, revealing similar mineral assemblages across the tested zones, dominated by quartz, illite, chlorite, and albite [8][10]. - The Keats West Weak sample contained a significant amount of submicroscopic gold, accounting for 49% of its gold content [18]. Group 3: Future Plans - Additional metallurgical test work is planned, including a feasibility study level program, with results expected in the second half of 2026 [19]. - The company aims to establish a gravity/CIL flowsheet and optimize recovery processes for sulphide-associated mineralization [25]. Group 4: Company Overview - New Found Gold holds a 100% interest in the Queensway project, located in Newfoundland and Labrador, and has completed an initial mineral resource estimate and PEA [22][23]. - The company has a solid shareholder base, including a 23.1% holding by Eric Sprott, and is focused on growth and value creation at Queensway [23].

Core Insights - Revival Gold Inc. announced positive results from metallurgical testing in collaboration with Dundee Sustainable Technologies, focusing on the effectiveness of the Glasslock Process on high-grade samples from the Joss deposit at the Beartrack-Arnett Gold Project [1][3] - The testing showed a 31% increase in gold grade and a 99% reduction in arsenic content, with no measurable gold loss during the process [3][10] - A 3,900-meter exploration drilling program is set to begin later this year to further explore the high-grade underground potential at Beartrack-Arnett [4][10] Company Developments - Dundee Corporation acquired a strategic stake in Revival Gold, which led to the metallurgical testing program [3] - The Glasslock Process has been successfully implemented on an industrial scale at Dundee Precious Metal Inc.'s Tsumeb smelter facility in Namibia, indicating its potential for broader application in gold processing [5][10] - Revival Gold is advancing the development of the Mercur Gold Project in Utah while continuing exploration at Beartrack-Arnett [11]

Core Viewpoint - North Bay Resources, Inc. has successfully completed the final acceptance and settlement of its gold concentrate test shipments from the Fran Gold Project, indicating progress in its operations and potential for increased production capacity [1]. Shipment Results - The total weight of gold concentrate shipments in April 2025 was 667 wet pounds, with shipments 2 and 3 processed at the Bishop Gold Mill [5]. - Shipment 2 had a dry weight of 222 pounds, with an average recovered grade of 0.08 ounces per ton, resulting in a per ton value of $260 [6]. - Shipment 3 had a dry weight of 318 pounds, with an average recovered grade of 0.11 ounces per ton, resulting in a per ton value of $360 [6]. Operational Improvements - Upgrades to the raker/classifier during April improved consistency and reduced material size, leading to better recovery rates in shipment 3, which was within 10% of shipment 1 [6]. - The implementation of a drying circuit reduced moisture content by 60% from 16.20% in shipment 2 to 7.15% in shipment 3 [6]. Future Production Plans - The company aims to ramp up production to 100 tons per week in the short term and achieve full commercial production of 100 tons per day thereafter [6]. - A finalized flotation circuit design includes an additional mixing tank to enhance gold recovery through improved reagent addition [7]. Fran Gold Project Development - Mobilization for further development at the Fran Gold Project is set to begin in early June, focusing on exploration and preparation for additional ore shipments [8]. - The company plans to implement grade control on stockpiles to maximize head grade at the mill and ensure continuous throughput [8]. Resource Estimates - The current resource estimate for the Bullion Alley - Main Zone is approximately 20,035,146 tonnes at an average grade of 0.50 grams per tonne, totaling 323,170 troy ounces [10]. - The Bullion Alley - Main Zone combined with the East Extension has a total resource of 43,797,234 tonnes at an average grade of 0.34 grams per tonne, totaling 474,001 troy ounces [11]. Economic Considerations - Using a gold price of $3,100 per ounce, the gross value in the Main Zone is estimated at $50 per tonne, with mining costs at the nearby Blackwater Gold Mine at $9 per tonne processed [12]. - The company is consulting with mine engineering firms regarding detailed economics and mine planning for the bulk tonnage deposit [12]. Geological Insights - Past exploration has revealed large intercepts of mixed vein and disseminated gold, with the deposit area identified to exceed 1000m x 100m x 300m [13]. - The Fran Gold Project is strategically located near significant mining operations, including Centerra Gold's Mt. Milligan Project and Artemis Gold's Blackwater Mine, which enhances its potential for resource development [13].

Core Insights - North Bay Resources, Inc. has successfully delivered 344 lbs of gold concentrate to Just Refiners, indicating progress in its operations and processing capabilities [1] - The concentrate is derived from approximately 15 tons of gross ore processed at the Bishop Gold Mill, showcasing the company's production capacity [1] - Recent upgrades to the milling equipment aim to optimize the recovery process, targeting a finer grind of minus 150 mesh [1][3] Flotation Circuit Optimization - The company is currently testing and optimizing the flotation circuit at the Bishop Gold Mill, focusing on the titration of five reagents used in the flotation process [2] - A decision is pending on whether to stage the addition of reagents or combine them in a single conditioning tank, which will impact the efficiency of the flotation process [3] - Previous metallurgy work suggests that a combined gravity and flotation circuit could achieve a recovery rate of 97% with Fran Gold ore [3] Fran Gold Project Developments - Data re-compilation from 104 drill holes at the Fran Gold Project is ongoing, utilizing Leapfrog 3D modeling for resource estimation [5] - A recent discovery of a bulk tonnage gold deposit at Fran includes 149m of 0.9 grams per tonne, prompting a re-evaluation of the deposit's potential [5] - Historical exploration has revealed significant intercepts of gold, with the deposit area exceeding 1000m x 100m x 300m, indicating substantial resource potential [6]

Core Viewpoint - Galantas Gold Corporation reported its audited financial results for the year ended December 31, 2024, highlighting a significant reduction in net loss compared to the previous year, despite no revenue generated from operations [1][3]. Financial Highlights - Revenue for 2024 was $0, consistent with 2023 [2]. - Total costs and expenses of operations decreased to $112,568 in 2024 from $182,295 in 2023 [2]. - Net loss for 2024 was $1,488,684, a substantial improvement from the net loss of $8,568,140 in 2023 [3]. - Cash outflow from operating activities before changes in non-cash working capital was $1,098,038 in 2024, down from $1,788,453 in 2023 [3]. - The company had a cash balance of $525,643 at the end of 2024, a decrease from $2,593,265 at the end of 2023 [4]. - Working capital deficit increased to $16,218,988 in 2024 from $12,599,514 in 2023 [4]. Operational Updates - The company has maintained a zero lost time accident rate since the start of underground operations, emphasizing its commitment to safety [5]. - Environmental monitoring indicates a high level of regulatory compliance [5]. Related Party Transactions - The company received a loan advance of £76,965 from Melquart Ltd. on November 6, 2024, and a further £100,000 on April 11, 2025, both under the same terms as a previous loan [7][8]. - As a substantial shareholder, Melquart is considered a related party, and the terms of these transactions are under review by the Board and its Nominated Adviser [9].

Core Viewpoint - North Bay Resources, Inc. has successfully completed its first gold concentrate sale from the Fran Gold Project, indicating progress in its operations and potential for increased recovery and profitability in the future [1][3]. Gold Sale and Refinery Settlement - The first gold concentrate sale involved approximately 10 tons of gross ore processed, with a net payment of $3,981.83, translating to about $400 per ton [2][3]. - The concentrate assay showed gold content of 1.401 ounces and silver content of 0.658 ounces, with gold priced at $3,119.75 per ounce and silver at $33.87 per ounce as of April 2, 2025 [2]. Operational Enhancements - The company plans to implement a flotation circuit, expected to increase recovery by up to 100%, potentially raising the value per ton to $800 [3]. - Transportation costs for recent shipments were approximately $300 per ton, projected to decrease to $200 per ton due to a new rail siding operational since March 31, 2025 [3]. - Direct operating costs are estimated at $35 per ton, with tariffs expected to be $25 per ton or less [3]. Ore Processing and Stockpiling - Currently, 75 tons of ore are stockpiled at the Bishop Gold Mill, with an additional 5,000 tons at the project site [4]. - The focus of optimization is on the flotation circuit, with all necessary reagents available and testing underway [4][5]. Fran Gold Project Developments - Recent data re-compilation has revealed a bulk tonnage gold deposit at Fran, with a 3D model indicating significant potential for further exploration [6]. - The deposit model shows a near-surface aspect verified by extensive surface trenching, with ongoing re-analysis of historic drill holes [6][7]. Drill Hole Data - Significant drill intercepts have been recorded, with grades ranging from 0.3 to 2.7 grams per tonne across various holes [8][11]. - The Fran Gold Project is strategically located near major mining operations, enhancing its potential for development [11].