Vancouver, British Columbia--(August 31, 2020) - Northway Resources Corp. (TSXV: NTW) (the "Company") and Kenorland Minerals Ltd. ("Kenorland") jointly report the results of the second phase of Kenorland's summer exploration program at the Frotet Project, Quebec. Exploration work included 1,900m of drilling, a regional surface geochemical program, and an airborne magnetic survey, funded by Sumitomo Metal Mining Canada Limited ("SMMCL"). As previously announced on July 29, 2020, the Company entered into a letter of intent dated July 28, 2020 whereby the Company will acquire all of the issued and outstanding securities of Kenorland (the "Transaction"). The Company and Kenorland are continuing to progress the proposed Transaction and anticipate the execution of a definitive amalgamation agreement by mid September.

 

Highlights of the exploration program results include the following:

 

20RDD021A intersected 33.69 g/t Au over 2.66m on a newly identified structure within the Regnault intrusive complex

Further significant gold mineralization drilled 200m to the south of previous drilling, extending the known strike length of the Regnault system to two kilometers

Geophysical interpretation and regional gold-in-till anomalies identified along trend to the south of the current extent of drilling indicate a continuation of the Regnault intrusive complex and associated gold system

VANCOUVER, BC and TORONTO, Aug. 31, 2020

 

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VANCOUVER, BC and TORONTO, Aug. 31, 2020  - Auryn Resources Inc. (TSX: AUG) (NYSE-American: AUG) ("Auryn" or the "Company") and Eastmain Resources Inc. (TSX: ER) ("Eastmain") are pleased to jointly announce that Auryn has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and Beacon Securities Limited in connection with a bought deal private placement financing (the "Bought DealOffering") of an aggregate of 7,500,000 subscription receipts of the Company (the "Subscription Receipts") to raise gross proceeds of C$22,500,000. The Subscription Receipts will be exchanged for common shares of Auryn concurrently with completion of the recently announced transaction whereby Auryn will acquire Eastmain ("Eastmain Transaction") after spinning-out Auryn's Peruvian operations to Auryn shareholders. The Eastmain Transaction will create Fury Gold Mines Limited ("Fury Gold"), a leading developer of Canadian gold projects. It will also result in two additional new independent companies holding Auryn's Peruvian projects. The sale of Subscription Receipts will fulfill a principal condition of the Eastmain Transaction.

 

A Message from Ivan Bebek, Executive Chairman & Director of Auryn:

 

"We are excited to welcome these investors as new shareholders of Fury Gold and to position the company with $22.5 million to carry out its aggressive growth plans through exploration and development over the next 12 months. With this financing condition met, we look forward to commencing our planned 50,000 meter drill program commencing this fall to expand the Eau Claire high-grade gold deposit, following the closing of the Eastmain Transaction."

Vancouver, BC - August 27, 2020 - Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the " Company " or " Durango ") is pleased to report that further to its news released dated July 15, 2020, the exploration team is preparing to mobilize to its Windfall Lake properties .

 

Mechanical stripping and sampling will commence immediately on the northeast extremity of the Trove Property along Durango's high priority drill targets controlled by the NE-SW Barry fault. Durango has secured the equipment necessary to begin its fall program and the exploration team will begin its program next week by creating two trenches. The trenching will provide: (a) a cross section of the lithological contacts and the structural geology that will be used to align drilling more accurately; (b) a surface projection for drill interpretation; and (c) the collection of additional rock samples.

 

The excavating equipment will remain on site during the program as Durango will rehabilitate some sections of logging roads to allow for full access of the equipment which will include leveling and widening in areas on both the Trove Property and the parallel East Barry Property, as necessary.

 

Durango has identified 12 immediate drill targets for the Trove Property to test favourable IP signatures which coincide with geochemistry and geophysical anomalies including gold that was previously found in till samples. The drill campaign is scheduled to begin on or about the 15 th of September on the Trove Property. Additional updates on the drill plan details will be released shortly.

MONTREAL, QUEBEC / August 27, 2020 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) is very pleased to report metallurgical results from the High Grade Zone (HGZ), located in the Eastern Gold Zone (EGZ) on the 100% owned Perron property in northwestern Quebec, Canada. Complete metallurgical results are provided in Table 1. All three composite samples, representing high, medium, and low grade mineralization characteristic of the HGZ, were found to be amenable to gravity, flotation, and cyanidation, with overall gold and silver recoveries greater than 99%. It is likely, based on these results, that a simple gravity-cyanidation flowsheet would be sufficient to achieve very high recoveries. Metallurgical work was completed by SGS Canada Inc., a leader in metallurgical and analytical studies.

 

Kelly Malcolm, Vice President Exploration of Amex said, "As we continue to rapidly advance the Perron project towards a future maiden resource, we wanted to confirm the amenability of the mineralization to conventional milling operations with a particular interest in the gravity recoverability of the gold and silver in the system. Results exceeded our expectations, confirming the simple nature of the coarse gold in the High Grade Zone. These initial results indicate that not only would most conventional milling operations result in very high metal recoveries, but also that mineralization at Perron is suitable for the majority of nearby active mills in the Abitibi region of Quebec and Ontario. The Company plans to complete additional metallurgical work in the future on the Denise, Grey Cat, and Gratien zones as well, with all of those zones sharing similar visible gold and low sulfide mineralization."