NINE MILE METALS DRILLS 134.0 METERS OF MINERALIZATION IN HOLE WD-24-02 AND SUBMITS ALL SAMPLES TO ALS GLOBAL FOR CERTIFIED ANALYSIS
VANCOUVER, B.C. Monday, March 4th, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9)(the “Company” or “Nine Mile”) is pleased to announce it has drilled a mineralized zone covering 134.0m in WD-24-02 at its initial Phase 1 drill program on its Wedge VMS Project in the world-famous Bathurst Mining Camp, New Brunswick (“BMC”). WD-24-02 HIGHLIGHTS: The hole was collared on the northeast flank of the Wedge Deposit and drilled at an azimuth of 160 degrees and a dip of – 50 degrees to a depth of 219 meters. From recently acquired Cominco Data, the subsurface was not mined. The main host is pyritic Volcanogenic Massive Sulphide (VMS) with visible chalcopyrite. Copper mineralization first appears at 39.6 meters and continued down the hole with numerous secondary zones of VMS mineralization identified. High grade zinc (36.12% & 14.93%) was intersected in addition to copper. (see Table 1) Nine Mile completed an XRF Analysis of a random zone of mineralization between 157.65 – 173.05 meters (15.4 meters) consisting of bands of mixed massive sulphides and massive sulphides (VMS) between 164.50 – 170.25 meters. (See table #1 below.) Entire mineralized zone of 134.0m has been sample cut and being shipped to ALS Global Labs for Certified Lab Analysis The closest Cominco holes to the east are approximately 70 meters away with Drill hole WE-12 intersecting 5.76 meters assaying 1.06% Cu,1.59% Pb and 6.91% Zn and 1.26 ounces Ag. We will continue to Drill to the east in Target Area #1 to confirm new extension of the Wedge Mine Ore Zone. Patrick J. Cruickshank, MBA, CEO & Director stated “Hole WD-24-02 is significant for our program at the Wedge. One of our mandates was to prove the Target #1 Area extension to the historical mine. We wanted to prove up additional new mineralized economic ore in an area that could extend the deposit. After drill holes WD-24-01 & WD-24-02 have hit significant new mineralization, we will continue to concentrate on Target Area #1, heading east, before we test the depth of the Wedge Mine. Remember, the crown pillar collapsed, all the lower levels were never mined and there is complete uncertainty of the remaining deposit size & scale. As each VMS deposit in the camp has its own unique mineral makeup, this system seems to be a Copper & Zinc rich ore body, not necessarily together, with independent zones. We look forward to reporting our next hole in our program and continuing to prove out a larger deposit footprint than previously thought. “Drilling in this portion of the Wedge has confirmed that a large mineralized system is present on the eastern boundary with extensive copper mineralization as demonstrated by variable chalcopyrite mineralization and VMS banding from 39.00 to 173.00 (134.00 meters) in drill hole WD-24-02. In addition to drilling, the historic Cominco drill data is being prepared for 3D modeling. We look forward to receiving the multi-element and precious metal assays for the 56.29 meters from drillhole WD-24-01 and the 134.00 meters from drillhole WD-24-02 from ALS Global and adding that information to historic Wedge database,“ commented Gary Lohman, PGO, VP Exploration & Director. The Company has completed its XRF analysis for the main VMS portion of the drill hole utilizing an Olympus Vanta 50 Portable XRF equipped with a 50Kv Workstation and Reflex XRF software. The XRF process included calibrating the machine and utilizing three standards in the sample stream (OREAS 502B, OREAS 622 and CDN-BL-10 Blank) at the beginning and end of the analytical sequence. Most samples consisted of a 1-meter section of cut drill core, and as such, the sample was not homogeneous. There were fifteen Sample Batches over 15.40 meters of mineralization. Each sample batch had approximately 15 -21 data points analyzed per meter. The core sample is placed cut face down, and the XRF gun takes a random unknown sample of the core. The operator has no knowledge of the laser point. The sum of the averages was divided by the number of pieces, the results of which are presented in Table 1 above. The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., PGO., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its three VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East – West) VMS Project. The Company is focused on Critical Minerals Exploration, positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. . Forward-looking statements in this press release include that (a) we will continue to Drill to the east in Target Area #1 to confirm new extension of the Wedge Mine Ore Zone, (b) we will continue to concentrate on Target Area #1, heading east, before we test the depth of the Wedge Mine, (c) we wanted to prove up additional new mineralized economic
Nine Mile Metals Completes Private Placement Financing
Vancouver, B.C. March 1, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces that it has completed a private placement financing for cash proceeds of $175,238 and debt forgiveness of $20,000 (the “Private Placement”). The Company issued 3,253,968 units at a price of $0.06 each. Each unit consists of one common share and one common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.10 per Common Share for a period of 24 months from the date of issuance. The common shares and Warrants issued in the Private Placement are subject to a four month and a day hold period. A commission of $2,400 and 40,000 Warrants were paid by the Company to a Finder in connection with a portion of the Private Placement. The $20,000 debt conversion was arranged by the Company with Slam Exploration in lieu of the first anniversary payment owed by the Company to maintain its option on its Wedge Project property in New Brunswick. The Company intends to use the proceeds of the Private Placement for operating expenses, including legal and audit fees and general working capital. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and our new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. Charles MaLette President and Director T: 1-604-428-5171 E: info@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that the Company will use the proceeds as described above. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Nine Mile Metals Drills Three Mineralized Zones, With XRF Results Up To 4.41% Copper In Zone 1; Submits 56 Meters Of Samples For Certified Lab Assays In Debut Wedge VMS Drill Program
VANCOUVER, B.C. Wednesday February 21st, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce a segment of XRF results from Hole WD-24-01, marking a significant milestone in its inaugural Phase 1 drill program on the Wedge VMS Project located within the renowned Bathurst Mining Camp in New Brunswick (“BMC”). Highlights: Drill hole WD-24-01 was initiated in the footwall sediments situated on the south flank of the historic mine site. It was drilled with an azimuth of 330 degrees and a dip of -45 degrees, reaching a depth of 164 meters to intersect an EarthEX late-time conductor, as illustrated in Figure 3. The drill hole was successful, intersecting three mineralized zones including 6.18 meters of pyritic VMS with chalcopyrite and lesser Pb and Zn mineralization between 33.47 meters and 39.65 meters. The VMS mineralization is very fine-grained consisting of 95% sulphides making Cu, Pb, Zn mineralogy difficult to identify. Mineralization continued to a depth of 53.16 meters. A third zone of mineralization was intersected between 139 and 142 meters. The hole terminated in hanging wall volcanics at 164.5m in total hole depth. 54 Samples from all three zones at hole WD-24-01, representing 56.29 meters of both VMS mineralization and adjacent rock, have been logged, measured, cut, and shipped for submission to the ALS Global Labs (“ALS”) in Moncton, New Brunswick for certified analysis. The Company has completed its XRF analysis for the first upper VMS portion of the drill hole utilizing an Olympus Vanta 50 Portable XRF equipped with a 50Kv Workstation and Reflex XRF software. The XRF process included calibrating the machine and utilizing two standards in the sample stream (OREAS 502B and CDN-BL-10 Blank) at the beginning and end of the analytical sequence. Except for one sample, each sample consisted of a 1-meter section of cut drill core, and as such, the sample was not homogeneous. There were six Sample Batches over 6.18 meters of mineralization. Each sample batch had approximately 12 -21 data points analyzed per meter. The core sample is placed cut face down, and the XRF gun takes a random unknown sample of the core. The operator has no knowledge of the laser point. The sum of the averages was divided by the number of pieces, the results of which are presented in Table 1 below. Patrick J. Cruickshank, MBA, CEO & Director, stated, “We are pleased to report that our first drill hole in our 2024 Wedge Program has encountered significant mineralization with high-grade copper. Importantly, we have identified three distinct zones totaling 56.29 meters. To have 2.81% Copper over 6.18 meters in Zone #1 is terrific and very encouraging, especially considering it was not a high-priority hole. This hole was constrained to its location due to heavy snowfall, preventing the drill rig from accessing the top of Target 1 area due to steep terrain and poor conditions, thereby necessitating the placement of the first hole at the base of our Target 1 area. Subsequently, we have successfully reached our priority Target 1 area with our second hole. Now, we can thoroughly test our new and deeper targets. This achievement is a testament to the expertise of the highly experienced rig team at Nine Mile Metals. We eagerly anticipate summarizing the certified assays once received.” “The success of this hole was a result of the valuable proprietary reprocessing and algorithms delivered by our partner at EarthEX Geophysical Solutions. It tested a new area along the high priority Late Time Conductive response access (Red Line identified on Figure 3), southeast of the historical deposit. We are looking forward to our next series of drill holes testing new areas over the strong conductive access trend, along with testing the depth of the original Lens, with the purpose of confirming a larger footprint of the original deposit. “ Stated Gary Lohman, B.Sc., PGO., Nine Mile Metals VP Exploration and Director. The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its three VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East – West) VMS Project. The Company is focused on Critical Minerals Exploration, positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. . Forward-looking statements in this press release include that (a) we can test our new targets and deeper targets, (b) we look forward to summarizing the Certified Assays once received, and (c) we are looking forward to our next series of drill holes testing new areas over the strong conductive access trend, along with testing the depth of the original Lens with the purpose of confirming a larger footprint of the original deposit. Although Nine Mile believes that the expectations and assumptions on which
Nine Mile Metals Amends Private Placement Financing
VANCOUVER, B.C. – Wednesday, February 14, 2024, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) discloses that it will amend the proposed private placement that it announced in the Company’s news release on February 8, 2024 (view here), (the “Private Placement”). The Private Placement will now consist of the sale of up to 4,166,666 units (each a “Unit”) at a price of $0.06 per Unit. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (a “Warrant“), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.10 per Common Share for a period of 24 months from the date of issuance. The Warrants will not have an acceleration clause as previously announced. As previously announced, in consideration for their services in introducing subscribers to the Company under the Private Placement, finders may receive commission of 8% cash and 8% common share purchase warrants, exercisable to purchase one common share at a price of $0.10 for a period of 24 months. The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital. All securities issued in the private placement will be subject to a four month and a day hold period. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and our new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: (506) 804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the Company will close the private placement for proceeds of $250,000; and (b) the Company will use the proceeds as described above. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Nine Mile Continues Wedge Project Option with First Anniversary Payments
VANCOUVER, B.C. – Friday, February 9, 2024, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces that it has made payments under its option to Purchase 100% of Wedge Project, dated February 9, 2023, (the “Option”) with Slam Exploration Ltd. (“Slam”). The Option and payments were previously announced on February 16, 2023. The Company has issued 200,000 common shares at a deemed price of $0.08 per share, in accordance with the Option. Slam and the Company have agreed to convert the $20,000 cash payment owing under the Option to units as part of the Company’s recently announced private placement. All securities issued will be subject to a four month and a day hold period. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and our new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: (506) 804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that Slam and the Company have agreed to convert the $20,000 cash payment owing under the Option to units as part of the Company’s recently announced private placement. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Nine Mile Metals Private Placement Financing
VANCOUVER, B.C. – Thursday, February 8, 2024, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces its intention to complete a private placement for proceeds of up to $500,000 (the “Private Placement”). The Private Placement will consist of the sale of up to 8,333,333 units (each a “Unit”) at a price of $0.06 per Unit. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (a “Warrant“), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.10 per Common Share for a period of 24 months from the date of issuance. The Warrants will include an acceleration clause to the effect that if at any time after the statutory four month and a day hold period from the closing date, the daily volume weighted average closing price of the common shares on the Canadian Securities Exchange is at least $0.30 per share for a period of 10 consecutive trading days the Company may, within five days of the triggering event, accelerate the expiry date of the warrants by giving notice thereof to the holders of the warrants, by way of news release, and in such case the warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the issuer announcing the triggering event. In consideration for their services in introducing subscribers to the Company under the Private Placement, finders may receive commission of 8% cash and 8% common share purchase warrants, exercisable to purchase one common share at a price of $0.10 for a period of 24 months. The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital. All securities issued in the private placement will be subject to a four month and a day hold period. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and our new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: (506) 804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the Company will close the private placement for proceeds of $500,000; and (b) the Company will use the proceeds as described above. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS – Correction Notice
VANCOUVER, B.C. – Monday, January 29, 2024, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) issues a correction to its press release originally issued on Friday, January 26, 2024, (click here to view) announcing the activation of the Wedge Project drill program and providing an update on the California Lake Drill Target #10. The original press release stated that drilling at the California Lake Target #10 stopped on December 17th, 2023, but it should have stated the date as “December 21, 2023.” The paragraph is restated as follows: The drill program at California Lake Target #10 stopped on December 21, 2023, above target depth due to inclement weather. The drill target is located in rolling hills west of Bathurst, N.B. and the roads (20km+) are not maintained by the N.B. Department of Transportation and Infrastructure, making access for both crew and fuel trucks extremely hazardous in bad winter weather. The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., P. Geo., Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and our new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: (506) 804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Nine Mile Metals Activates The Wedge Project Drill Program, And Provides California Lake Drill Target #10 Update, Bathurst Mining Camp, New Brunswick
VANCOUVER, B.C. – Friday, January 26th, 2024, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to announce that it has received all necessary drill permits on its Wedge Project southwest of the Brunswick #12 Mine and has mobilized the Drill Rig onsite for its High Priority Drill Program on Targets #1 & #2. Drilling at California Lake Target #10 stopped on December 17th, 2023, above target depth due to inclement weather. The drill target is located in rolling hills west of Bathurst and the roads (20 km+) are not maintained by the NB Department of Highways making access for both crew and fuel trucks extremely hazardous. The drill hole has been capped and will be re-entered when weather permits. Once shut down, the drill was relocated to the Wedge to avoid having equipment stuck deep in the bush over the winter months. Meanwhile, drill core is being cut and submitted to ALS Certified Labs in Vancouver for assay. Downhole geophysics (BHEM) is also being evaluated since this can be done in the winter months prior to resuming the drill program, through snowmobile access. We are obtaining quotes and recommendations for implementation. Drill targeting will focus on target areas #1 and #2 as shown on the above figure. Located approximately 4 kilometers west of Hwy 430, the Wedge target areas #1 & #2 are the only accessible targets in the western portfolio due to heavy snowstorms and the New Brunswick Snowmobile Federation (NBSF), who take over road responsibilities for grooming until April. Arrangements have been made with the NBSF allowing us to clear a portion of the road to facilitate access to the Wedge for fuel deliveries. Drilling is expected to commence immediately targeting the Wedge Mine (Target #1) at depth and defined targets to both the southeast and to the northwest. “Drilling will target the historic Wedge Mine area (Target #1) including the mineralized horizon and geophysical trends along strike to the northwest (Target #2) that Cominco identifies but never drill tested. Additional drill holes are planned to the southeast of the mine in a new area identified by EarthEx and their Late Time conductive response analysis, portrayed by the red axis line on Figure 1, where no drilling has been reported. “ stated Gary Lohman, B.Sc., PGO., Nine Mile Metals VP Exploration and Director. Patrick J Cruickshank, MBA , CEO & Director stated “both the California Lake Target 10 area and the Wedge projects are very high priority and important for Nine Mile Metals. We are fortunate to have been able to relocate the Rig in these conditions and keep our overall program moving forward. We are extremely optimistic for our Wedge targets area and look forward to announcing positive results from this program until end of March. We look forward to returning to California Lake at the soonest time possible. The Rig and the crew are in Bathurst and preparing the site for this weekend start.” Discovered in 1956, the Wedge Mine is located at the northern terminus of a strong magnetic linear (Figure 1). Between 1962 and 1968, operated by Cominco & later purchase by Teck Resources, the mine produced 1.503MT grading (2.88% Cu, 0.65% Pb, 1.81% Zn, 20.6 g/t Ag). McCutcheon et al (2005) stated a historical measured resource of 545,200T* (1.75% Cu, 1.71% Pb & 5.21% Zn) to a depth of 274 meters. The Company has also closed its $1.5m flow-through private placement announced in December (refer news releases December 13, 2023 and December 19, 2023). Total proceeds raised was $1,125,000 which will be used towards exploration programs on the Company’s New Brunswick VMS properties. The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., P. Geo., Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and our Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. McCutcheon, S., et al, , 2005 – Stratigraphic setting of base-metal deposits in the Bathurst Mining Camp, New Brunswick; Geological Association of Canada, Mineralogical Association of Canada, Petroleum Geologists, Canadian Society of Soil Sciences, Joint Meeting – Halifax, May 2005, Field Trip B4; Department of Earth Sciences Dalhousie University, Halifax, Nova Scotia, Canada B3H 3J, AGS Special Publication Number 30, 107p. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: (506) 804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the California Lake drill hole has been capped and will be re-entered when weather permits, (b) Wedge drilling will focus on target areas #1 and #2, (c) drilling is expected to commence immediately on the Wedge Mine (Target #1), (d) additional drill holes are planned to the southeast of the Wedge mine, (e) the Company is extremely optimistic for
Nine Mile Metals Receives Bulk Sample Project Permit Approval For Its High-Grade Lens Bulk Sample Project At Nine Mile Brook
VANCOUVER, B.C. – Friday January 12, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to announce it has received Final Approval of its Nine Mile Brook Lens Bulk Sample Permit from the NB Department of Mines Resource Development Branch (NB DEM), for the Nine Mile Brook Lens Bulk Sample Project. Nine Mile Metals has received Final NB DEM Bulk Sample Permit Approval Nine Mile Metals has now initiated its Vendors Award and Confirmation process Nine Mile Metals can now implement its Program Cost-Budget Analysis Nine Mile Metals can now begin scheduling the Bulk Sample Excavation Project Timelines Nine Mile Metals must adhere to a $30,000 Reclamation Security Deposit In the last month, the permit process included an extensive review by numerous branches of the Provincial Government including Geological Services, Mining Recorder, Forestry, Worksafe NB, Aboriginal Affairs, Archaeological Services and numerous sections of the Department of the Environment and representatives of the local government. The Regional Director of the Department of the Environment also reviewed the request. Since the program involves the extraction of VMS mineralization, review by the Department of Environment was key due to the presence of conservation forest, wetlands, rivers, and streams in the project area. In addition to providing engineering plans for the proposed work, a reclamation plan was also submitted, and all have been approved. Nine Mile Metals VP Exploration and Director, Gary Lohman, B.Sc., Geo., stated that, “The team is pleased to receive the final approval for the bulk sample program at our high – grade Nine Mile Brook Lens. Nine Mile can now implement its cost budget analysis for the program, award the contracts and crew hirings for the work required, including upgrading the access road, site preparation, any required drilling/blasting, onsite crushing, transport of material for processing and set timelines for execution. We look forward to our next announcement for this important project for our Company.” The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and the Wedge VMS Projects. The Company is focused on Critical Minerals Exploration, positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J Cruickshank, MBA” CEO and Director T: +1.506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) Nine Mile can now implement its cost budget analysis for the program, award the contracts and crew hirings for the work required, including upgrading the access road, site preparation, any required drilling/blasting, onsite crushing, transport of material for processing and set timelines for execution, and (b) the Company looks forward to updating the process of this important project. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Nine Mile Metals Closes 1st Tranche of $1,500,000 Private Placement
Vancouver, B.C. Tuesday December 19, 2023 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces completion of the first tranche of a private placement of up to $1,500,000 (the “Offering”). The Company issued 5,625,000 flow-through units (each, a “Unit”) at a price of $0.20 per Unit, for proceeds of $1,125,000. Each Unit consists of one flow-through common share of the Company and one-half of one common share purchase warrant (a “Warrant”), with each full Warrant entitling the holder thereof to purchase one common share at a price of $0.23 for a period of 24 months. In consideration for their services in introducing subscribers to the Company under the Private Placement, finders received an aggregate of 420,000 common share purchase warrants, each exercisable to purchase one common share at a price of $0.23 for a period of 24 months and cash of $84,000. The proceeds raised through the offering will be used to carry out drilling and exploration work programs on its four VMS properties in New Brunswick, Canada. All securities issued in the Offering are subject to a four-month hold period. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and Wedge VMS. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold. ON BEHALF OF NINE MILE METALS LTD. “Charles MaLette” President and Director T: 604-428-5171 E: info@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the Company will close additional tranches in the future so that the Offering will total approximately $1,500,000 and (b) the Company will use the proceeds as described above. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.