Phase 2 Drill Program At The Silver Cliff Project

VANCOUVER, BC – Viscount Mining Corp. reported that its Phase 2 twin drilling program will start shortly at Silver Cliff, Colorado. Results will assess upside potential and contribute to the verification of historical resources at the nearly flat-lying Kate Silver Deposit which at less than 70 feet depth, and up to 88 feet apparent true thickness, would have open pit mining potential.

Viscount has contracted Arseneau Consulting Services (ACS) to provide overall supervision of the drill program. Dr. Gilles Arseneau, a professional geologist, has chosen 10 of the Kate Silver Deposit historical drill holes to be twinned. They will be drilled to an average depth of about 328 feet versus an average of 197 feet for historic drilling at Kate.

Historical records show that deeper rhyolite tuff layers have elevated silver concentrations. In particular, a number of the few historic holes deeper than 197 feet either ended in or passed through mineralized tuff and Emmons reported "films or stains of metallic sulphides, said to assay high in silver… lining delicate cracks in the tuff" units intercepted when sinking the 2,640-foot Geyser mine shaft approximately 2625 feet (800 meters) southeast of Viscount’s 2016 drill holes.

ACS therefore has chosen to test the potential continuity and grade of deeper mineralized tuff with 5 of the 10 planned holes probing to depths of more than 328 feet (100 meters). One or more of the holes also will test prominent cross-cutting faults for high grade silver, either in altered adjacent volcanics or in veins within the fault zones. If the deep drilling locates other horizons with potentially economic concentrations of silver, it will have significant bearing on the next phase of work.

In summary, Viscount will continue the process commenced with Phase 1 in 2016 for twinning past drill holes to determine intercept details that have not been available for preparing a valid update of the historical silver resource and will test the potential for multiple mineralized zones that would increase the volume of material accessible by open pit mining. Dr. Howard Lahti, VP Exploration, stated "I am extremely optimistic that this 2nd phase of drilling will not only advance confidence in the historical silver mineralization reported for the Kate Deposit, but also will demonstrate that there is considerable resource potential at depth."

Continuation Of High Grade Mineralization At Midas

VANCOUVER – Klondex Mines Ltd. reported results on the Trinity zone surface exploration drill program at its Midas Mine located in northern Nevada, USA. The following drill results are not included in Midas’ current Mineral Resource estimate. Midas Mine Surface Drilling Highlights – Trinity: DMC-00337: 7.83 opt AuEq over 1.5 ft, or 268.36 g/t over 0.5 m; DMC-00350: 0.65 opt AuEq over 6.6 ft, or 22.22 g/t over 2.0 m – Including: 3.14 opt AuEq over 1.1 ft, or 107.58 g/t over 0.3 m; DMC-00338A: 0.51 opt AuEq over 3.8 ft, or 17.39 g/t over 1.2 m – Including: 1.12 opt AuEq over 1.5 ft, or 38.50 g/t over 0.5 m and DMC-00348: 1.04 opt AuEq over 1.5 ft, or 35.71 g/t over 0.5 m.

Ten surface core holes totaling 10,105 ft (3,080 m) were drilled at Trinity during this phase of surface exploration. This program was designed to test the new Trinity structural corridor model and extend mineralization north towards the existing underground workings and planned development.

Most of the production in the Midas district is controlled by east-dipping structures. Historically, drilling at Trinity used the same east-dipping structural model returning inconsistent results. However, a reinterpretation suggested the mineralized structures are actually west-dipping. During this drill program, the company tested the new structural model and it returned positive, consistent results supporting the continuity of high grade mineralization controlled by west-dipping structures in an east-dipping structural corridor. 

Continuous mineralization has been extended north along strike by approximately 600 ft bringing the current known mineralization within 1,500 ft of the existing underground workings. The updated model has proven to be robust in targeting and returning consistent, high grade mineralized intercepts within the structural corridor.

Brian Morris, Senior Vice President, Exploration said, “The success we are having with the new structural model provides an excellent opportunity to extend the Trinity mineralization to the north and south along strike, as well as down dip. The northern extension of the Trinity corridor is open 2,200 ft to the Southern Owyhee fault. Future drill plans will continue to use the new structural model to guide drilling and will focus on further extending mineralization both to the north and south within the Trinity corridor. These exploration results will extend the life of Midas.”

Kwondex has 100% interests in three producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada.

Drill Results From Western And Main Zone At Goldstrike

VANCOUVER – Liberty Gold Inc. reported additional drill results from the Western Zone and Main Zone at the 100% controlled Goldstrike Oxide Gold Project in southwestern Utah. In both areas, drilling is currently focused on amalgamating mineralization over large areas into single zones of mineralization. Both zones measure over 2 km long and up to 1 km wide, with areas of untested, high-conviction target potential.

Highlights from the Western Zone include: 0.79 grams per tonne gold (g/t Au) over 9.1 meters (m) and 0.38 g/t Au over 19.8 m and 1.40 g/t Au over 10.7 m within 0.99 g/t Au over 25.9 m in PGS320; 0.77 g/t Au over 4.6 m and 0.51 g/t Au over 64.0 m in PGS322 and 1.72 g/t Au over 7.6 m within 0.70 g/t Au over 42.7 m in PGS324; 1.60 g/t Au over 10.7 m within 0.79 g/t Au over 42.7 m in PGS339. The newly-defined Western Zone considers five targets as potentially a single linear gold zone up to 3 km long. The objective of the current drill program in this area is to drill under and adjacent to four historic open pits (Covington, Moosehead, Caribou and Beavertail) in order to demonstrate continuity of gold mineralization over the entire zone. The results continue to highlight long intervals of gold mineralization beginning at shallow depth, hosted in the Claron Formation (regional gold host) as well as in underlying Paleozoic rocks and fault breccias. Drilling is ongoing with two drills in the Western Zone, which encompasses over 3 square km with areas of known mineralization on surface or at shallow depth bracketing large, untested areas in between. Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend. Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of a growing number of Carlin-style gold systems located off the main Carlin and Cortez trends in under explored parts of the Great Basin. The historic Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au.

Patriot Files Technical Report For Vernal Project

LAS VEGAS, NV – Patriot Gold Corp. has filed a National Instrument 43-101 Technical Report regarding its 100% owned Vernal project in Nye County, Nevada. The Vernal project is an early stage gold exploration project. The Report is an independent review and evaluation of the geology and mineralization of the Vernal project, including all exploration work carried out to date.

Patriot is exploring its 100%-owned gold projects in Nevada, which include the Vernal project and the Windy Peak project. Patriot owns a 3% royalty in the Moss Mine in Arizona, scheduled to commence commercial production in 2017. Patriot also owns a 2% royalty in the Bruner gold project in Nevada.

Corvus Gold Begins Mother Lode Drilling Program

VANCOUVER, BC – Corvus Gold Inc. reported that it has started its Phase I, Mother Lode drill program which will utilize three drill rigs (two reverse circulation and one core). The initial program is scheduled for approximately 13,000 meters and is focused on confirmation of the existing 172-hole database and addressing priority I resource expansion exploration targets in four main zones of historic mineralization. The Phase I program is anticipated for completion in December with the Phase II drilling program scheduled to begin in January 2018.

Primary Objectives of the Phase 1 program is to confirm and expand the existing 433,000-ounce, 1.6 g/t gold non-National Instrument 43-101 ("NI-43-101") estimate. Acquire representative material for metallurgical testing and define the key ore controls on the high-grade mineralization in the system.

The historic estimates for the Mother Lode property contained in this news release should not be relied upon. These estimates are not National Instrument 43-101 ("NI-43-101") compliant. While the Company considers these historical estimates to be relevant to investors as it may indicate the presence of mineralization, a qualified person for the Company has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI 43-101 and the Company is not treating these historical estimates as a current mineral resource.

Jeff Pontius, President and CEO of Corvus said, "This is an exciting time for Corvus as we conduct the first modern drill program in over 30 years at our newly acquired Mother Lode property. Our analysis of the extensive historic database acquired with the property and its new geologic mapping and sampling results, has defined a large structural zone which has been intruded by mineralized dikes forming several excellent targets for high-grade gold mineralization. The Mother Lode gold system has potential for both high-grade epithermal deposits like Bullfrog type deposits as well as Carlin style sediment hosted gold deposits. We believe that Mother Lode system holds the potential for the discovery of a new gold system in Nevada."

Lincoln Mining Advances Permitting At Pine Grove 

VANCOUVER, BC – Lincoln Mining Corporation reported an update on progress at its Pine Grove property in Nevada. Lincoln is encouraged by the results of the most recent PEA and will begin advancing the Pine Grove project towards production and as such will focus the majority of its efforts in permitting the Project for production. Resource exploration will continue.

Paul Saxton, Lincoln’s President and Chief Executive Officer, noted, "The Company is poised now to capitalize on the favorable view towards mining in the U.S. We look forward to completion of the development work at Pine Grove. The Company’s policy of strong environmental stewardship has enabled us to work well with both State and Federal agencies towards attaining this goal."

Lincoln has commissioned various environmental studies at Pine Grove since 2009, and reported data required for the permitting of a mine to several agencies. The Company is establishing a full list of all reports, studies and approvals needed in its Plan of Operations. The Project will be under the jurisdiction of the federal US Forest Service ("USFS"). Lincoln will also need to obtain other permits from Federal, State and local agencies as required.

The National Environmental Policy Act ("NEPA") requires an environmental analysis to be carried out prior to approving the Plan of Operations ("POO"). Critical to this NEPA analysis are baseline surveys, reports and approvals regarding heritage resources, surface waters impacts, waste rock geochemistry, and biological concerns. The biological report along with the cultural survey report will be reviewed for final approval by Federal and State regulators.

Newmont Mining Reported That Operations Have Outperformed 

DENVER, CO – Newmont Mining Corporation Gary J. Goldberg, President and Chief Executive Officer said, “Operational execution has driven superior second quarter results, further investment in profitable growth, and improved guidance for 2017.” “We increased adjusted EBITDA by $98 million compared to the prior year quarter to nearly $700 million, and reported free cash flow of $346 million. Operations across the portfolio outperformed, reducing all-in sustaining costs to $884 per ounce and producing 13 percent more gold on an attributable basis. We expect to sustain this performance through strong technical fundamentals and ongoing investment in value-adding technology, and have improved our cost, capital and production outlook as a result. This performance gives us the means to fund near-term growth through our new Twin Underground mine in Nevada, and profitable expansions at Ahafo, Tanami and Northwest Exodus, and to invest in maintaining our profitability for years to come with new greenfields prospects as well as our interest in the high grade Buriticá project in Colombia, and the promising Plateau opportunity in the Yukon.”

Second Quarter 2017 Summary Results

The Twin Underground in North America is a portal mine beneath Twin Creek’s Vista surface mine with similar mineralization. First production is expected in the fourth quarter of 2017 with commercial production mid-2018. The expansion is expected to average between 30,000 and 40,000 ounces per year for the first five years (2018 to 2022). During this period CAS is expected to be between $525 and $625 per ounce and AISC between $650 and $750 per ounce. Capital costs are expected to be between $45 and $55 million with expenditure of $15 to $25 million in 2017, up from prior estimates due to higher production and additional infrastructure to support a phased approach with exploration upside. IRR is expected to be about 20 percent at a $1,200 gold price.

Quecher Main in South America would add oxide production at Yanacocha, and serve as a bridge to development of Yanacocha’s considerable sulfide deposits. An investment decision is expected in the second half of 2017 with first production in 2019. Quecher extends the life of the Yanacocha operation to 2025 with average annual gold production of approximately 200,000 ounces per year between 2020 and 2025 (100 percent basis). Capital costs for the project are estimated at between $275 and $325 million with expenditure of $10 to $15 million in 2017.

Newmont’s outlook reflects steady gold production and ongoing investment in its current assets and best growth prospects. Newmont does not include potential cost and efficiency improvements in its outlook beyond 2017, nor does it include development projects that have not yet been funded or reached the execution stage – both of which represent upside to guidance. Economic assumptions include $1,200 per ounce gold, $2.50 per pound copper, $55 per barrel WTI and $0.75 Australian dollar exchange rate.

Production guidance for 2017 improves to between 5.0 and 5.4 million ounces on Full Potential improvements in North America and Africa. Compared to the prior year, full year production at Merian and Long Canyon more than offsets declines at Twin Creeks and Yanacocha. Production guidance for 2018 and longer-term guidance is unchanged at between 4.7 and 5.2 million ounces with production from the Ahafo expansions and new production at Twin Underground offsetting declines at maturing assets. Expansion at Yanacocha represents upside to both production and cost guidance.

North America production guidance is improved. Production guidance for 2017 improves to between 2.1 and 2.2 million ounces following changes to blend management at Twin Creeks and improved mill grade and leach volumes at Cripple Creek & Victor. Compared to the prior year, a full year of operation at Long Canyon offsets the impact of higher planned stripping at Twin Creeks. Guidance is unchanged at between 1.9 and 2.1 million ounces in 2018 and between 1.8 and 2.0 million ounces in 2019 due to planned stripping at Carlin and continued stripping at Twin Creeks. Both sites are expected to return to higher production levels in 2020.