Borealis Minesite First Gold & Silver Doré Pour From Stockpile Crushing – Heap Leaching

TORONTO – Borealis Mining Company Limited has successfully completed the first pour of gold and silver doré from the previously announced stockpile crushing and heap leaching at the Borealis minesite. A total of 65.6 pounds, equivalent to 956.7 troy ounces of doré was poured in two bars.

Borealis is awaiting assay results from the pour to determine the grade and value of the doré but preliminary results indicate roughly a 50-50 gold-silver ratio, plus some additional waste metal. Heap leaching and crushing of the stockpile of oxide material continues, with approximately 106,000 tons being treated with cyanide solution and another 34,000 tons crushed and not yet subjected to heap leaching. Gold and silver are actively being collected in Borealis’ carbon columns and the Company anticipates its next pour in several weeks.

Andreas Steckenborn, COO, said, “This is a genuine milestone for our team, the Company, and its shareholders. This pour represents the first genuine gold and silver production from fresh oxide material that Borealis has crushed, trucked to the leach pad and treated with cyanide. We’ve spent an immense amount of time and effort over the past two years optimizing our operations and training and the result was a perfectly executed pour. Our carbon columns are well-loaded with gold and silver for the next pour which should occur in the next few weeks. Borealis stakeholders can look forward to steady revenue for the the next several months, which we intend to grow upon with the upcoming re-start of the Borealis mine. We will update the market on timing of the re-start of mining in the near term.”