Latest news with #Newmont
Globe and Mail
a day ago
- Business
- Globe and Mail
NEM, B, KGC: Central Banks Plan to Boost Gold Reserves to Record Levels
A new survey has found that central banks plan to further boost their gold reserves this year as they decrease their holdings of U.S. dollars over the coming five years. Confident Investing Starts Here: Geopolitical concerns, macroeconomic uncertainty, and concerns about the status of the U.S. dollar are driving central banks around the world to make record gold purchases. Gold recently overtook the Euro currency to become the world's second-largest reserve asset, behind the U.S. dollar. Gold prices have risen 30% this year and doubled in the last two years as global uncertainty and market volatility have propelled central bank demand for bullion. Now, a record 95% of central bank respondents to a World Gold Council survey say they expect their gold holdings to increase over the next 12 months. That's the highest level since the annual poll started in 2018 and potentially good news for gold mining companies such as Newmont (NEM), Barrick Mining (B), and Kinross Gold Corp. (KGC). Dumping U.S. Dollars Meanwhile three-quarters (75%) of central banks said they expect their U.S. dollar holdings to decline over the next five years. A total of 70 central banks responded to the survey. Another key finding of the survey is that, due to geopolitical tensions, many central banks plan to store gold domestically rather than in New York or London, the world's two largest repositories of the precious metal. The U.S. government's erratic approach to global affairs under U.S. President Donald Trump has contributed to unease among many central banks. Central bank gold buying has accelerated since Russia invaded Ukraine in 2022. There is also a move among central banks to diversify away from the U.S. dollar. Gold is currently trading at $3,404.70 per ounce and is not far from its all-time high of just over $3,500. GLD Performance The SPDR Gold Shares (GLD) exchange-traded fund (ETF) holds physical gold and tracks the spot price movements of the precious metal. As one can see in the chart below, GLD has risen 10.91% in the last three months.
The Australian
2 days ago
- Business
- The Australian
ITM on tail of Reynolds Range antimony
ITM identifies up to 12.35g/t gold and 5.4% antimony in historical drilling Results add to project's gold and antimony prospectivity with new structures emerging Mapping and sampling planned ahead of drilling Special Report: iTech Minerals has identified gold and antimony in data from historical drilling and rock chips at Falchion prospect of its Reynolds Range project in the NT. The project area is part of the ~42km-long Stafford Gold Trend with 50km of strike coincident with the Trans-Tanami regional structure. Previous gold exploration at Reynolds Range in the 1990s was conducted primarily by Poseidon Gold, Exodus Minerals, North Flinders Mines, Normandy and Newmont. Historical drill holes at Falchion were on the hunt for gold and not routinely analysed for antimony. But now, the company has revealed historical mineralisation over a strike of 400m and this is open to the east. Notable results include: 22m at 2.20g/t gold and 2.3% antimony and 8m at 1.3g/t Au including 2m at 12.35g/t Au and 5.4% Sb; 24m at 2.75g/t Au; 10m at 1.29g/t Au; and 7m at 1.4g/t Au. A review of the controls on gold and antimony mineralisation has identified multiple prospective structures in the surrounding region and this new geological interpretation allows for expanded gold prospectivity at Falchion and surrounding prospects. iTech Minerals (ASX:ITM) plans to test targets down dip of existing mineralisation, extensions of mineralisation to the west and underneath mineralised rock chips missed by historical drilling as well as exploring along strike of the northern gold zone to the east. Watch: iTech joins forces with powerhouse SQM 18km of prospective gold/antimony structures Notably, the geological review found chargeability anomalies caused by high concentrations of sulphides (including pyrrhotite) associated with gold-antimony mineralisation and defined by gradient array induced polarisation. The company also found a subtle magnetic anomaly due to high concentrations of magnetic pyrrhotite associated with gold-antimony mineralisation. ITM has now identified more than 18km of prospective structures coincident with a regional 6.5km-long antimony in lag soil anomaly. 'A review of historical drilling at the Falchion gold-antimony prospect has identified up to 400m of mineralised strike just 1.4km from the 800m-long Sabre gold antimony prospect to the east,' managing director Mike Schwarz said. 'Importantly the Falchion prospect remains open at depth and to the east. 'Up to 18km of prospective structures have been identified in the region based on similarities to the Falchion and Sabre prospects.' Mapping and sampling of the newly identified prospective structures is planned to help narrow down targets with potential for economic mineralisation for drill testing. Drilling is expected to commence in the second half of 2025. This article was developed in collaboration with iTech Minerals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Zawya
4 days ago
- Business
- Zawya
Gold mining companies in Ghana, Ivory Coast resist tax hikes, sources say
Gold miners operating in Ghana and Ivory Coast are refusing to comply with tax increases imposed this year, saying the new regulations flout their existing licence agreements, industry sources told Reuters. Countries across West Africa have been taking advantage of soaring gold prices to increase mining taxes and raise additional revenue to plug gaping budget deficits and ease high debt levels. Mining companies in the region have mostly complied apart from in Ghana and Ivory Coast, Africa's top and seventh biggest gold producers respectively, where companies say terms agreed when licenses were granted should be honoured by both parties to protect and spur investment, the six industry sources said. Mining companies have agreed between themselves not to pay the extra taxes while they negotiate with the Ivory Coast and Ghana governments to repeal the hikes, according to the sources. Producers in the two countries include Gold Fields, Newmont, AngloGold Ashanti, Barrick , Endeavour, Allied Gold and Perseus. They all declined to comment or did not respond to Reuters' requests for comment. In January, Ivory Coast introduced a flat royalty tax of 8% of annual revenue, according to a document seen by Reuters, up from 3%-6% previously, depending on the miner's contract. Ghana, which has defaulted on its debt and is undergoing a debt restructuring, raised a tax on gold miners' annual gross output to 3% in March, from 1%, after appealing to the companies to help it plug revenue gaps, said a source in the country's finance ministry. "If people have invested for the long term and you change the rules midway, it can affect the project. New rules can apply to new projects," said an executive at a major international mining company operating in Ivory Coast, who asked not to be named. The mines and finance ministries in Ghana and Ivory Coast did not respond to Reuters requests for comment. Elsewhere in the region, military-ruled Burkina Faso introduced a sliding scale royalty regime in February, linking royalties to gold prices, which miners have largely complied with, two other sources familiar with the matter said. Miners in Mali, Niger and Guinea have also been mostly complying with aggressive regulations introduced by new mining codes. ONGOING NEGOTIATIONS Gold prices have surged nearly 30% this year, driving up profits for gold miners in the first quarter, but sudden regulatory changes are a frequent obstacle to doing business in Africa. Barrick has been in a two-year standoff with Mali's military-ruled government over new mining legislation aimed at boosting state revenue, a dispute that has seen the Canadian miner's Loulo-Gounkoto complex shut, executives detained and its share price plunge. Barrick, which also has operations in Ivory Coast, did not respond to a Reuters request for comment. Miners in Ivory Coast are currently holding talks with the mines and finance ministries to break the impasse over the new taxes, a mining executive said. In Ghana, the companies under the Ghana Chamber of Mines have asked the government to reconsider its measures. If talks fail, companies could face financial penalties for delayed tax payments if the governments insist on the tax increases. One mining company in Ghana, which did not want to be named, said the tax authority has the right to shut a company's operations and impose penalties. The companies could also choose to sue if they can prove their contracts should be immune to tax hikes. Denis Gyeyri, Africa Senior Program Officer at the nonprofit Natural Resources Governance Institute, said governments are too quick to raise taxes when prices spike but don't lower them when prices fall. "Royalty rates should be progressive - compensating mines at low prices and maximizing government revenue at high prices," Gyeyri said. Countries should also keep their tax rates competitive, he said, pointing out that royalty rates for miners in Western Australia, for example, vary between 2.5% and 7.5% depending on the extent of processing. (Reporting by Maxwell Akalaare Adombila; Additional reporting by Loucoumane Coulibaly in Abidjan and Emmanuel Bruce in Accra; Editing by Veronica Brown and Susan Fenton)
Globe and Mail
4 days ago
- Business
- Globe and Mail
Inflection Resources to Acquire Portfolio of Australian Copper-Gold Projects from Newmont Corporation
VANCOUVER, British Columbia, June 16, 2025 (GLOBE NEWSWIRE) -- Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to announce it has entered into definitive agreement dated June 13, 2025 to acquire an 100% interest in a portfolio of Australian copper-gold exploration projects in New South Wales and the Northern Territory from subsidiaries of Newmont Corporation ('Newmont'). Summary Highlights: Inflection shall acquire an 100% interest in a large portfolio of projects from Newmont which the Company considers highly prospective for copper-gold in the Northern Territory and New South Wales. The Tennant East project located in Australia's Northern Territory comprises twelve exploration licenses covering a number of Iron Oxide Copper Gold (IOCG) targets which have received minimal exploration work to-date. The Bell River project is located in the Macquarie Arc in central New South Wales. The Company considers the project to be highly prospective for copper-gold porphyries, with the presence of outcropping lithocaps interpreted to represent the upper parts of preserved porphyry systems. Alistair Waddell, Inflection's President and CEO, states: ' We are pleased to announce the acquisition of this high-potential project portfolio, which represents the culmination of an extensive evaluation process. The Tennant East and Bell River projects meet our rigorous selection criteria, particularly regarding the scale and quality of individual exploration targets and concepts. These new projects complement our existing New South Wales portfolio and will be explored in parallel with our current AngloGold Ashanti-funded exploration program. We look forward to applying our systematic, systems-thinking exploration approach to unlock the potential of these projects once the transaction is completed." Bell River Project – New South Wales: Individual prospects with significant zones of advanced argillic alteration interpreted by Inflection to represent possible porphyry lithocaps Adjacent outcropping zones of quartz-pyrite-chalcopyrite cemented breccias Aeromagnetic lows coincident with high-level alteration Little to no drill testing of several geochemical anomalies and zones of high-temperature hydrothermal alteration The Bell River tenement (~115 km²) is located approximately 65 km north of Newmont's Cadia mine and 23 km south of the town of Wellington, New South Wales within the Molong Belt of the Macquarie Arc (Figure 1). The Macquarie Arc is the most fertile porphyry copper-gold terrane in Australia, comprising the Junee-Narromine Volcanic Belt which hosts Evolution Mining's Northparkes and Cowal mines and the Molong Volcanic Belt which hosts the Bell River project and Newmont's Cadia mine. The Bell River tenement is largely comprised of the calc-alkaline Mid-Ordovician Fairbridge Volcanics and Oakdale Formation comprising of basaltic to andesitic tuffs, breccias, lavas, latites, and minor sedimentary rocks and limestones which host Alkane Resources Ltd.'s Boda-Kaiser porphyry systems 40 km to the north Reconnaissance mapping and geochemical and spectral surveys by the previous owners have identified significant zones of advanced argillic alteration at several prospects, which are interpreted by Inflection to represent relic porphyry-related lithocaps. At a prospect referred to as Bakers Swamp, the interpreted lithocap is bordered by a zone of propylitic alteration to the west and south and elevated As-Mo-Ag-Ba-Sb-As-S-Se in soil samples. Locally surface rock sampling of intensely silicified andesitic volcanics returned gold values up to 40.8 g/t and 1% copper. At the Bellevue prospect, outcropping silica ridges bordered by pyrophyllite-paragonite-muscovite alteration are accompanied by sporadic outcrops of quartz-chalcopyrite-pyrite cemented hydrothermal breccias. The Bakers Swamp prospect is defined by a broad zone of silica-clay-goethite-limonite alteration that is coincident with a 1.5 km wide aeromagnetic low and copper-in soil anomalism. Mineral assemblages typical of advanced argillic alteration (dickite-alunite-pyrophyllite-zunyite) have been identified by previous explorers. These alteration assemblages are well recognized as representing the upper levels of magmatic-hydrothermal systems and are noted in many porphyry deposits globally. Previous explorers effectively defined the alteration but did not drill test the potential of these zones, leaving significant potential for discovery of copper-gold mineralization at depth. Figure 1: Location map and simplified geological map for the Bell River project Tennant East Project – Northern Territory: Newmont scout drilling defined Cu-Au-U-Mo geochemical footprints consistent with IOCG style mineralization Preliminary scout drill holes intersected: Hematite-magnetite-chlorite alteration facies typical of IOCG systems Vein and disseminated pyrite ±pyrrhotite ±chalcopyrite ±galena sulphide Broad zones of hematite-pyrite-silica breccias Thick sedimentary sequences and bimodal intrusions in the project are an equivalent age to other mineralized districts including the nearby Tennant Creek copper-gold deposits The Tennant East project is highly prospective for large-scale IOCG style mineralization. The project comprises twelve individual exploration licenses totalling approximately 4,200 km² located approximately 180 km east of the town of Tennant Creek in Australia's Northern Territory (Figure 2). The project is easily accessible and located on and adjacent to the Barkly Highway, which runs from Tennant Creek to Mount Isa in western Queensland. All targets occur under relatively shallow post-mineral sedimentary cover interpreted to be less than 150 metres thick. The exploration licenses were initially staked by Newcrest Mining as part of a country-scale targeting exercise and only received cursory exploration that returned encouraging early results, including the drilling of thirteen holes into a wide variety of geophysical features. Figure 2: Location map of the Tennant East exploration licenses and major copper-gold and gold mines IOCG deposits represent expressions of large crustal-scale alteration events driven by intrusive activity and are among the world's most significant sources of copper, gold, uranium and critical commodities making them exceptionally valuable mineral systems that often support large-scale, long-life mining operations. The largest known deposit of this type is Olympic Dam, located 560 km north of Adelaide, South Australia with other Australian examples being Prominent Hill, Carrapateena, Ernest Henry and the Tennant Creek district. Other notable global examples include Candelaria in Chile and Salobo in Brazil. These deposits are characterized by an association of copper, gold and uranium with highly elevated iron oxides (hematite and magnetite). The deposits are typically associated with large scale hydrothermal alteration, brecciation and mineralisation controlled by deep-seated faults. These deposits are highly amenable to cost-effective geophysical exploration due to their close association with magnetite and hematite. Inflection's exploration strategy will involve targeting thorough systematic review of previous exploration data, detailed geological interpretation and development of integrated geological, geochemical and geophysical data. Further details regarding the individual targets will be released once the titles have been transferred to Inflection. Newmont Agreement Terms: Bell River Agreement Terms: Inflection will acquire 100% interest in the Bell River project by issuing Newmont 1,000,000 common shares of the Company. Inflection also agrees to pay Newmont a one-time payment of AUD$2.5M upon completion of a JORC or NI43-101 compliant Pre-Feasibility Study and AUD$5.0M upon commencement of commercial production. Newmont shall retain a 2% net smelter return ('NSR') royalty on the project, of which Inflection may purchase 1% NSR for AUD$5.0M at any time. Tennant East Agreement Terms: Inflection will acquire 100% interest in the Tennant East project by issuing Newmont 250,000 common shares of the Company and reimbursement of the 2025-26 tenement renewal fees. Newmont shall retain a 1.5% NSR on the project, of which Inflection may purchase 0.5% NSR for fair market value after completion of a NI43-101 compliant Pre-Feasibility Study. The transactions are expected to close in several weeks upon transfer of the exploration licenses to the Company's wholly owned Australian subsidiary and the share issuance to Newmont. Qualified Person and Sampling Quality Control: The scientific and technical information contained in this news release has been reviewed and approved by Mr. Carl Swensson (FAusIMM), a 'Qualified Person' ('QP') as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Swensson is not independent by reason he is a director of the Company's subsidiary and a shareholder of the Company. About Inflection Resources Ltd. Inflection is a copper-gold focused mineral exploration company listed on the Canadian Securities Exchange under the symbol 'AUCU', on the OTCQB under the symbol 'AUCUF' and on the Frankfurt Stock Exchange under the symbol '5FJ', with projects in New South Wales and the Northern Territory of Australia. For more information, please visit the Company website at Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally. Further information about NewQuest can be found at On behalf of the Board of Directors Alistair Waddell President and CEO alistair@ For further information, please contact: Brennan Zerb Investor Relations Manager +1 (778) 867-5016 bzerb@ Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, amount of drilling, anticipated content, commencement and cost of exploration programs in respect of the Company's projects and mineral properties, the closing date of the property acquisitions and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's most recently filed annual MD&A and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR+ website at Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
Associated Press
4 days ago
- Business
- Associated Press
Inflection Resources to Acquire Portfolio of Australian Copper-Gold Projects from Newmont Corporation
VANCOUVER, British Columbia, June 16, 2025 (GLOBE NEWSWIRE) -- Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the 'Company' or 'Inflection') is pleased to announce it has entered into definitive agreement dated June 13, 2025 to acquire an 100% interest in a portfolio of Australian copper-gold exploration projects in New South Wales and the Northern Territory from subsidiaries of Newmont Corporation ('Newmont'). Summary Highlights: Alistair Waddell, Inflection's President and CEO, states: 'We are pleased to announce the acquisition of this high-potential project portfolio, which represents the culmination of an extensive evaluation process. The Tennant East and Bell River projects meet our rigorous selection criteria, particularly regarding the scale and quality of individual exploration targets and concepts. These new projects complement our existing New South Wales portfolio and will be explored in parallel with our current AngloGold Ashanti-funded exploration program. We look forward to applying our systematic, systems-thinking exploration approach to unlock the potential of these projects once the transaction is completed.' Bell River Project – New South Wales: The Bell River tenement (~115 km²) is located approximately 65 km north of Newmont's Cadia mine and 23 km south of the town of Wellington, New South Wales within the Molong Belt of the Macquarie Arc (Figure 1). The Macquarie Arc is the most fertile porphyry copper-gold terrane in Australia, comprising the Junee-Narromine Volcanic Belt which hosts Evolution Mining's Northparkes and Cowal mines and the Molong Volcanic Belt which hosts the Bell River project and Newmont's Cadia mine. The Bell River tenement is largely comprised of the calc-alkaline Mid-Ordovician Fairbridge Volcanics and Oakdale Formation comprising of basaltic to andesitic tuffs, breccias, lavas, latites, and minor sedimentary rocks and limestones which host Alkane Resources Ltd.'s Boda-Kaiser porphyry systems 40 km to the north Reconnaissance mapping and geochemical and spectral surveys by the previous owners have identified significant zones of advanced argillic alteration at several prospects, which are interpreted by Inflection to represent relic porphyry-related lithocaps. At a prospect referred to as Bakers Swamp, the interpreted lithocap is bordered by a zone of propylitic alteration to the west and south and elevated As-Mo-Ag-Ba-Sb-As-S-Se in soil samples. Locally surface rock sampling of intensely silicified andesitic volcanics returned gold values up to 40.8 g/t and 1% copper. At the Bellevue prospect, outcropping silica ridges bordered by pyrophyllite-paragonite-muscovite alteration are accompanied by sporadic outcrops of quartz-chalcopyrite-pyrite cemented hydrothermal breccias. The Bakers Swamp prospect is defined by a broad zone of silica-clay-goethite-limonite alteration that is coincident with a 1.5 km wide aeromagnetic low and copper-in soil anomalism. Mineral assemblages typical of advanced argillic alteration (dickite-alunite-pyrophyllite-zunyite) have been identified by previous explorers. These alteration assemblages are well recognized as representing the upper levels of magmatic-hydrothermal systems and are noted in many porphyry deposits globally. Previous explorers effectively defined the alteration but did not drill test the potential of these zones, leaving significant potential for discovery of copper-gold mineralization at depth. Figure 1: Location map and simplified geological map for the Bell River project Tennant East Project – Northern Territory: The Tennant East project is highly prospective for large-scale IOCG style mineralization. The project comprises twelve individual exploration licenses totalling approximately 4,200 km² located approximately 180 km east of the town of Tennant Creek in Australia's Northern Territory (Figure 2). The project is easily accessible and located on and adjacent to the Barkly Highway, which runs from Tennant Creek to Mount Isa in western Queensland. All targets occur under relatively shallow post-mineral sedimentary cover interpreted to be less than 150 metres thick. The exploration licenses were initially staked by Newcrest Mining as part of a country-scale targeting exercise and only received cursory exploration that returned encouraging early results, including the drilling of thirteen holes into a wide variety of geophysical features. Figure 2: Location map of the Tennant East exploration licenses and major copper-gold and gold mines IOCG deposits represent expressions of large crustal-scale alteration events driven by intrusive activity and are among the world's most significant sources of copper, gold, uranium and critical commodities making them exceptionally valuable mineral systems that often support large-scale, long-life mining operations. The largest known deposit of this type is Olympic Dam, located 560 km north of Adelaide, South Australia with other Australian examples being Prominent Hill, Carrapateena, Ernest Henry and the Tennant Creek district. Other notable global examples include Candelaria in Chile and Salobo in Brazil. These deposits are characterized by an association of copper, gold and uranium with highly elevated iron oxides (hematite and magnetite). The deposits are typically associated with large scale hydrothermal alteration, brecciation and mineralisation controlled by deep-seated faults. These deposits are highly amenable to cost-effective geophysical exploration due to their close association with magnetite and hematite. Inflection's exploration strategy will involve targeting thorough systematic review of previous exploration data, detailed geological interpretation and development of integrated geological, geochemical and geophysical data. Further details regarding the individual targets will be released once the titles have been transferred to Inflection. Newmont Agreement Terms: Bell River Agreement Terms: Inflection will acquire 100% interest in the Bell River project by issuing Newmont 1,000,000 common shares of the Company. Inflection also agrees to pay Newmont a one-time payment of AUD$2.5M upon completion of a JORC or NI43-101 compliant Pre-Feasibility Study and AUD$5.0M upon commencement of commercial production. Newmont shall retain a 2% net smelter return ('NSR') royalty on the project, of which Inflection may purchase 1% NSR for AUD$5.0M at any time. Tennant East Agreement Terms: Inflection will acquire 100% interest in the Tennant East project by issuing Newmont 250,000 common shares of the Company and reimbursement of the 2025-26 tenement renewal fees. Newmont shall retain a 1.5% NSR on the project, of which Inflection may purchase 0.5% NSR for fair market value after completion of a NI43-101 compliant Pre-Feasibility Study. The transactions are expected to close in several weeks upon transfer of the exploration licenses to the Company's wholly owned Australian subsidiary and the share issuance to Newmont. Qualified Person and Sampling Quality Control: The scientific and technical information contained in this news release has been reviewed and approved by Mr. Carl Swensson (FAusIMM), a 'Qualified Person' ('QP') as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Swensson is not independent by reason he is a director of the Company's subsidiary and a shareholder of the Company. About Inflection Resources Ltd. Inflection is a copper-gold focused mineral exploration company listed on the Canadian Securities Exchange under the symbol 'AUCU', on the OTCQB under the symbol 'AUCUF' and on the Frankfurt Stock Exchange under the symbol '5FJ', with projects in New South Wales and the Northern Territory of Australia. For more information, please visit the Company website at Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally. Further information about NewQuest can be found at On behalf of the Board of Directors Alistair Waddell President and CEO [email protected] For further information, please contact: Brennan Zerb Investor Relations Manager +1 (778) 867-5016 [email protected] Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, amount of drilling, anticipated content, commencement and cost of exploration programs in respect of the Company's projects and mineral properties, the closing date of the property acquisitions and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as 'pro forma', 'plans', 'expects', 'may', 'should', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', 'potential' or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading 'Risk Factors' in the Company's most recently filed annual MD&A and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR+ website at Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law. Photos accompanying this announcement are available at
