VANCOUVER, BC / ACCESSWIRE / February 26, 2020 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") announces that that it has entered into a Property Acquisition Agreement with Emgold Mining Corporation. ("Emgold") for the purchase of 100% of the Stewart and Rozan properties, located near Nelson in southern British Columbia. The two properties are located close to Ximen's Kenville gold mine and consist of 60 mineral claims covering a total of 7,739 hectares.

Satellite Image showing Ximen's Nelson area holdings showing properties acquired from Emgold (yellow), including Rozan (upper) and Stewart (lower). Also shown are the Kenville and California mine properties (Red), and properties recently acquired by Ximen from Klondike Gold (purple).

Rozan is a 1,950 hectare property comprised of 32 claims, located 8 kilometers southeast of the Kenville Property. Exploration by Emgold and others on Rozan had identified several gold targets and the mineralized structures found at the Kenville mine appear to trend southeast onto the Rozan Property. Emgold completed 18 diamond drill holes totaling 1,906.8 metres that resulted in a number of significant gold intercepts. Gold is associated with quartz sulphide veins and sheeted stockwork quartz veining. Potential exists for both high grade vein and bulk disseminated gold mineralization.

Stewart is a 5,789 hectare property comprised of 28 claims and located 20 km south of the Kenville Property. The Stewart Property has been explored for gold, molybdenum, base metals and tungsten and has known occurrences of gold, silver, molybdenum, and tungsten. A total of 103 diamond drill holes totaling 13,737 metres have been drilled on the property, most of which targeted molybdenum and tungsten. Significant intercepts were obtained for molybdenum and gold. Potential exists for high grade vein and disseminated gold deposits, and for base metal deposits associated with porphyry intrusions and related breccia pipes.

Key points of the transaction include:

C$100,000 paid to Emgold in cash at closing;
1.275 million Ximen shares paid to Emgold at closing;
1.275 million share purchase warrants provided to Emgold at closing allowing Emgold to purchase common shares of Ximen at a price of C$0.45 per unit exercisable for a period of 3 years, increasing to C$0.55 per unit and exercisable in years 4 and 5;
Emgold will transfer over $943,282.7 B.C. Portable Assessment Credits related to exploration on Stewart and Rozan to Ximen as part of the transaction.
The transaction is subject to TSX Venture Exchange approval.

Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.

On behalf of the Board of Directors,

"Christopher R. Anderson"

Christopher R. Anderson,
President, CEO and Director

Investor Relations
Sophy Cesar,
604-488-3900,
ir@XimenMiningCorp.com

About Ximen Mining Corp.

Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under a option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Ximen Mining Corp.

ReleaseID: 577922

VANCOUVER, BC / ACCESSWIRE / February 25, 2020 / Blue Lagoon Resources Inc. ("Blue Lagoon" or the "Company") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce that it has signed a non-binding letter of intent to acquire 100% of the outstanding shares of Metal Mountain Resources Inc. ("Metal Mountain"), a private British Columbia company. Metal Mountain holds a 50.84% interest in Gavin Mines Inc. ("Gavin Mines"), which in turn holds a 100% interest in the Dome Mountain Mine located near the town of Smithers in northwest British Columbia. Metal Mountain also holds a 100% interest in the Big Onion Property, also located near Smithers. Blue Lagoon has separately entered into a binding letter of intent with AGC Investments Inc. ("AGC"), a private company which holds a 27.44% interest in Gavin Mines, whereby Blue Lagoon may acquire AGC's interest on closing of the acquisition of Metal Mountain.

With the acquisition of Metal Mountain's 50.84% interest and AGC's 27.44% interest, Blue Lagoon will hold a total of 78.28% interest in the Dome Mountain Mine.

Pursuant to the letter of intent with Metal Mountain, the Company is proposing to issue approximately 12.15 million shares in exchange for the shares of Metal Mountain. Pursuant to the letter of intent with AGC, Blue Lagoon would issue a further 1,372,000 shares in exchange for AGC's interest in Gavin Mines, subject to certain terms and conditions being met as set forth in the letter of intent.

THE DOME MOUNTAIN MINE

The Dome Mountain Mine includes a past producing mine on tenures consisting of 42 contiguous mining claims and one mining lease totaling 10,970 hectares, located approximately 38 kilometers east of the town of Smithers in northwest British Columbia. Expenditures on the mine by past operators, including Gavin Mines, Timmins and Noranda, have totaled in excess of $68 million, $28 Million of which was spent by Gavin in the past 12 years. Mine permitting and significant infrastructure construction and underground development was completed on the mine between 2010 and 2012, including about 75% of the planned underground development necessary for commencing production from the site. The Dome Mountain Project holds a Mining Permit and Environmental Management Act Permit (EMA) providing for up to 75,000 tonnes annually.

The following provides a summary of the infrastructure and underground development completed during that period:

Mine dry/office building
Electrocoagulation water treatment plant
Water and sewer for all surface facilities
Pipelines system for mine water
Mechanics shop
Electrical work into the mine
Fuel storage and distribution system
Major earthwork projects completed
Underground development

The Dome Mountain area has a long history of exploration that resulted in the discovery of numerous gold bearing quartz-carbonate veins. Gold mineralization was first located on the property in the late 1800s and considerable surface and underground work was done in 1923-24. Resumption of exploration in the 1980s led to the discovery of the Boulder Vein system in 1985. Underground mining was initiated in August 1991 by Timmins Nickel Inc. and its joint venture partner, Habsburg Resources Inc. and ceased in May 1993. During this period 43,900 tonnes at an average grade of 12.0 grams per tonne gold were reportedly mined from shrinkage stopes accessed from trackless drift developments on the 1290 and 1370 levels.

THE BIG ONION PROPERTY

The Big Onion is a porphyry copper project located 16 kilometres east of the town of Smithers and consists of 13 contiguous mineral claims comprising a total area of 4,493 hectares. Following a total of 218 drill holes totaling 41,010 meters a NI 43-101 resource report dated May 31, 2009 was prepared by Giroux Consultants Ltd.

The Company will provide additional technical information on the Dome Mountain Mine and the Big Onion Project in a subsequent news release pending completion of the Company's technical review of the projects.

LETTER OF INTENT

Pursuant to the letter of intent with Metal Mountain, the Company and Metal Mountain are proposing a business combination whereby the Company would acquire 100% of the issued shares of Metal Mountain in exchange for approximately 12.15 million shares of the Company. The shares will be subject to voluntary pooling for an initial 12 month period from closing, and thereafter will be released from pool in periodic installments over a further 18 months. Closing of the transaction is subject to various conditions, including any required stock exchange approvals, shareholder approval of Metal Mountain, and completion of due diligence investigations. The parties have agreed to work towards settlement of a definitive agreement.

Pursuant to the letter of intent with AGC, the Company has the right to acquire AGC's interest in Gavin Mines in exchange for 1,372,000 common shares of Blue Lagoon and a $25,000 cash payment. Closing of the acquisition of AGC's interest in Gavin Mines is subject to stock exchange approval, Blue Lagoon completing legal and technical due diligence on Gavin Mines, as well as customary conditions.

The scientific and technical data contained in this news release was prepared and reviewed by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.

For further information, please contact:

Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana@ranavig.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration and exploitation of minerals deposits, market prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Blue Lagoon Resources Inc.

ReleaseID: 577935

NEW YORK, NY / ACCESSWIRE / February 26, 2020 / It would have been a time of hope and opportunity for all, however, the beginning of 2020 had been brought into the haze by an epidemic. Affected by the Coronavirus, not only people's lives have been greatly affected, but also the economic situation of the whole market has been impacted. Fortunately, with the effective mobilization and solidarity of the society, China has shown its strength in the epidemic.

In the fight against novel coronavirus, many enterprises are actively taking social responsibility and contributing to the epidemic prevention work. For example, Throne Legacy Capital Ltd (TLC) is one of them.

After the outbreak, Throne Legacy Capital Ltd (TLC) immediately launched effective actions to organize the internal staff to learn the epidemic prevention measures and common sense of the virus, so as to ensure the safety of the staff as soon as possible. In the severe situation of epidemic spread, they are well aware that to ensure their own safety is to contribute to the fight against the epidemic.

Meanwhile, TLC believes that even if its internal security is guaranteed, the society still needs a lot of help. Only when all of us take action and give our best, can we truly eliminate the virus.

Therefore, TLC strived to extend their actions. For example, all kinds of medical materials are in short supply in epidemic prevention. TLC immediately worked out several emergency plans to help mobilize various channels to collect first-line medical supplies for the disaster, such as seeking foreign supplies of masks, disinfectants, medicines and other anti disaster tools.

Individual power may not be strong enough. In order to gather strength to fight the epidemic to the maximum extent, TLC also established a foundation, which gave full play to their industry influence, calling all colleagues and customers of the company to respond to the event together, and contribute a little to the front-line victims and medical staff.

Mr. Carl Ronny, the Executive President of of TLC, delivered a speech to all the guests at the new year's Party. On the one hand, he expressed deep regret for the impact of the new coronavirus on people and society, and encouraged people to maintain confidence in life and market conditions. The epidemic will eventually pass, and the future will be better.

In fact, TLC is a company specializing in foreign exchange investment, providing comprehensive asset management and global financial advisory services. It used the latest technology, combined with the security mechanism of foreign exchange investment and insurance guarantee, to build a set of EA intelligent trading system. Through this system, investors can also improve investment efficiency and obtain strong guarantee.

In May 2019, TLC officially became a member company of IBH investment bank in Labuan, Malaysia. IBH is an excellent large-scale international investment institution with strong financial resources. Supported by the powerful IBH, TLC can give full play to its industry advantages. The two sides have worked together to build a stable investment plan for investors by taking advantage of capital advantages and high-end technology standards.

To sum up, the market needs a strong corporate body, and more powerful and socially responsible enterprises like TLC. The epidemic shall pass, and the country's tomorrow will be better.

If you are ready for a better future, please visit the official website of TLC, www.tlcglobal.asia, or contact Enquiry@tlcglobal.asia.

CONTACT:
Conmpany Name:TLC
Person:Miss Zhong
Phone:+852 26170728
Enquiry@tlcglobal.asia
Website:www.tlcglobal.asia

SOURCE: TLC

ReleaseID: 577953

Latest IO-Link IC in Dialog's growing family of Industrial IoT products provides robust connectivity to the smallest, most cost-sensitive IO-Link Devices

LONDON, UK / ACCESSWIRE / February 26, 2020 / Dialog Semiconductor plc (XETRA:DLG), a leading provider of power management, charging, AC/DC power conversion, Wi-Fi and Bluetooth(R) low energy technology, today announced the latest member of its IO-Link product family, the CCE4503. The addition of this new IO-Link IC both expands the company's reach into the Industrial IoT (IIoT) market and connects the smallest and most price-sensitive IO-Link Device sensors and actuators.

The CCE4503 is the first IO-Link IC to be launched by Dialog following its acquisition of Creative Chips in November 2019 and complements the company's well-established family of IO-Link Device and Master ICs. IO-Link is the first globally standardized, serial bi-directional point-to-point communication technology (IEC 61131-9) for an industrial automation network. It provides robust communications for the last meters between sensors, actuators and any fieldbus within a network.

The CCE4503 is a highly robust and easy-to-use device-side IO-Link-compliant transceiver that combines IO-Link standard communications with advanced protection circuitry and low power dissipation, within a tiny DFN10 3x3mm package. This makes it possible to add IO-Link connectivity to the most space-constricted industrial sensor and actuator devices. The design has also been rigorously optimized for cost, enabling a greater number of IO-Link devices to benefit from the IO-Link connectivity that provides deeper data access to the cloud.

"Industrial sensors and actuators are integrating more functionality in smaller form factors with greater demands for cloud connectivity," said Dr. Lutz Porombka, Vice President of Dialog's Industrial Mixed Signal Business Unit. "The CCE4503 and its optimized feature set is the result of customer-driven demand for a smaller, more cost-efficient IO-Link solution that enables the next generation of Industry 4.0 devices."

The CCE4503, now currently sampling, is supported by a comprehensive set of development support tools, industry standard IO-Link software and a full-featured customer evaluation board.

For more information about this device, please visit: https://www.dialog-semiconductor.com/products/cce4503

For the latest IO-link video, watch here

ENDS

NOTES

Dialog and the Dialog logo are trademarks of Dialog Semiconductor plc or its subsidiaries. All other product or service names are the property of their respective owners. (c) Copyright 2020 Dialog Semiconductor. All rights reserved.

Media Contact:
Mark Tyndall
SVP Corporate Development & Strategy
Dialog Semiconductor
Phone: +1 (408) 845 8520
mark.tyndall@diasemi.com
Web: www.dialog-semiconductor.com
Twitter: @DialogSemi

About Dialog Semiconductor
Dialog Semiconductor is a leading provider of integrated circuits (ICs) that power mobile devices and the Internet of Things. Dialog solutions are integral to some of today's leading mobile devices and the enabling element for increasing performance and productivity on the go. From making smartphones more power efficient and shortening charging times, enabling home appliances to be controlled from anywhere, to connecting the next generation of wearable devices, Dialog's decades of experience and world-class innovation help manufacturers get to what's next.

Dialog operates a fabless business model and is a socially responsible employer pursuing many programs to benefit the employees, community, other stakeholders and the environment it operates in. Dialog Semiconductor Plc is headquartered near London with a global sales, R&D and marketing organization. In 2019, it had approximately $1.420 billion in revenue and was one of the fastest growing European public semiconductor companies. It currently has approximately 2,075 employees worldwide. The company is listed on the Frankfurt (FWB: DLG) stock exchange (Regulated Market, Prime Standard, ISIN GB0059822006) and is a member of the German TecDax.

For more information, visit www.dialog-semiconductor.com.

Contact:
Jose Cano
Director, Investor Relations
jose.cano@diasemi.com
+44(0)1793756961

SOURCE: Dialog Semiconductor Plc.

ReleaseID: 577954

TORONTO, ON / ACCESSWIRE / February 26, 2020 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSXV:EOG), the oil and gas exploration company with licenses in Guyana and Namibia, is pleased to announce its results for the three and nine months ended 31 December 2019, alongside a corporate and operational update.

Results Highlights:

Financials

As at 31 December 2019, the Company had cash and cash equivalents of CAD $25.4 million with no debt and remains fully funded for its share of further appraisal and exploration drilling at Orinduik Block offshore Guyana of up to US$120m (gross).
As at 31 December 2019, Eco had total assets of CAD $27 million, total liabilities of CAD $0.3 million and total equity of CAD $26.7 million.

Operations – Guyana

On 12 August 2019, the Company announced a major oil discovery on its Orinduik offshore petroleum license in Guyana (the "Guyana License"). Evaluation of logging data confirms that Jethro-1 is the first discovery on the Guyana License and comprises high quality oil-bearing sandstone 55m reservoir of Lower Tertiary age. The well was cased and is awaiting further evaluation to determine the appropriate appraisal activity.
On 16 September 2019, the Company announced a second oil discovery on the Guyana License. Evaluation of MWD, wireline logging and sampling of the oil confirms that Joe-1 is the second discovery on the Orinduik License and comprises a high-quality oil-bearing sandstone 16m reservoir with a high porosity of Upper Tertiary age.
Both wells were drilled within budget, with MWD logging tool and conventional wireline, and the reservoirs were considered to be high-quality sands with good permeability.
Fluid samples were taken in both of the wells and were sent for analysis by the Operator. Results of that testing confirm that the samples recovered to date from Jethro-1 and Joe-are mobile heavy crudes with high sulphur content.
Oil tested to date appears not dissimilar to the commercial heavy crudes currently in production in the North Sea, Gulf of Mexico, the Campos Basin in Brazil, Venezuela and Angola.
The Company has engaged a third-party consultant with heavy oil development and economics expertise to help conduct preliminary evaluations related to production schemes and commercialisation. Technical and commercial evaluation work is ongoing and the Company is considering alternatives for further drilling and testing and a number of development scenarios and production alternatives. The Company remains optimistic in considering the development scenarios and, as the project progresses, will provide further information on plans and timing.
On 3 February 2020, the Company announced the filing of a National Instrument 51-101 compliant resource report on the Orinduik Block, offshore Guyana, which included:

Significant increase in Gross Prospective Resources to 5,141 MMBOE (771 MMBOE net to Eco) from previous estimate of Gross Prospective Resources of 3,981 MMBOE in March 2019.
22 prospects identified on Orinduik Block including 11 leads in the Upper Cretaceous horizon.
Majority of the project leads have over a 30% or better chance of success (COS), enhanced by the recent discovery of light oil in the Carapa 1 well on the Kanuku block to the south of Orinduik.
Leads in the Tertiary aged section estimated to contain 1,204 MMBOE.
Leads in the Cretaceous section are estimated to contain approximately 3,936 MMBOE.

Outlook

Guyana

The Block operator has proposed a further fine tuning analysis of the upper cretaceous reservoirs, and the Operator has announced a plan to incorporate the Carapa well data into Orinduik's existing geological models and technical analysis over the coming period. Further, the partners plan to integrate the discoveries at Jethro and Joe with the Carapa discovery with the rest of the regional data now available and to incorporate this data into a reprocessing of the 3D seismic already shot on Orinduik. The intent is to provide further definition to the Cretaceous interpretation and target selection for drilling.
Geological modeling, prospects maturation and target selection on the Block are ongoing, and the JV Partners are working closely to agree the best work program to further explore the prospectivity of the license.
Multiple prospects are currently being reviewed with high-graded candidates under consideration for the next drilling programme.
Eco is fully funded and is pushing to drill a minimum of at least one upper Cretaceous target as soon as practically possible for its partners. Consideration is being given to prioritise a stacked multi-target well.

The Orinduik JV partners are Eco Atlantic (15% working interest ("WI")), Tullow Guyana B.V. ("Tullow") (Operator, 60% WI) and Total E&P Guyana B.V. ("Total") (25% WI).

Namibia

Eco continues to progress its various work programmes offshore Namibia.
Eco sees an increasing interest in Namibia by major companies and large IOCs. The Company plans to monitor near-term drilling activity in the region and will update the market on developments as appropriate.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:

"After completing a successful drilling campaign in 2019, we continue to benefit from a very strong balance sheet and remain fully funded to conduct further exploration and appraisal drilling activity on the Orinduik Block. Our recently updated CPR reaffirms the high prospectivity of the license and the considerable upside potential contained within the Tertiary and Cretaceous horizons. As such, the JV Partners are working on incorporating the learnings gained from other regional discoveries, such as the Carapa well result, into our existing geological models, as this will enable us to identify the most high value targets on the Block.

"While it is Eco's intention, and there remains the potential, to conduct a drilling program later this year, the need to integrate the new data learned from recent discoveries in the region into our understanding of the Block's geology may result in further drilling and appraisal activity taking place in H1 2021. However, a final decision on further drilling activity and the overall budget will be made in the coming months. It is important to note that we remain convinced of the significant upside of Orinduik, are well funded, have strong shareholders and partners, and are confident that further drilling activity will be conducted as soon as practically possible and will prove the Block's potential."

The Company's unaudited financial results for three and six months ended 30 September 2019, together with Management's Discussion and Analysis as at 31 December 2019, are available to download on the Company's website at www.ecooilandgas.com and on Sedar at www.sedar.com.

The following are the Company's Balance Sheet, Income Statements, Cash Flow Statement and selected notes from the annual Financial Statements. All amounts are in Canadian Dollars, unless otherwise stated.

Balance Sheet

 
December 31,
 
 
March 31,
 

 
2019
 
 
2019
 

Assets

 
Unaudited
 
 
Audited
 

Current assets

Cash and cash equivalents

 
 
25,365,280
 
 
 
25,007,479
 

Short-term investments

 
 
74,818
 
 
 
74,818
 

Government receivable

 
 
50,102
 
 
 
33,104
 

Accounts receivable and prepaid expenses

 
 
65,632
 
 
 
80,926
 

 
 
25,555,832
 
 
 
25,196,327
 

Petroleum and natural gas licenses

 
 
1,489,971
 
 
 
1,489,971
 

Total Assets

 
 
27,045,803
 
 
 
26,686,298
 

Liabilities

Current liabilities

Accounts payable and accrued liabilities

 
 
194,782
 
 
 
423,513
 

Advances from and amounts owing to license partners, net

 
 
134,187
 
 
 
1,127,675
 

Total Liabilities

 
 
328,969
 
 
 
1,551,188
 

Equity

Share capital

 
 
78,853,808
 
 
 
50,025,998
 

Restricted Share Units reserve

 
 
356,493
 
 
 
111,493
 

Warrants

 
 
70,280
 
 
 
52,775
 

Stock options

 
 
3,319,117
 
 
 
3,184,658
 

Accumulated deficit

 
 
(55,882,864)
 
 
 
(28,239,814
)

Total Equity

 
 
26,716,834
 
 
 
25,135,110
 

Total Liabilities and Equity

 
 
27,045,803
 
 
 
26,686,298
 

Income Statement

 
Three months ended
 
 
Nine months ended
 

 
December 31,
 
 
December 31,
 

 
2019
 
 
2018
 
 
2019
 
 
2018
 

 
Unaudited
 
 
Unaudited
 

Revenue

Income from farm-out agreement

 
$ 
–
 
 
$ 
16,759,307
 
 
$ 
–
 
 
$ 
16,759,307
 

Interest income

 
$ 
105,802
 
 
 
47,877
 
 
$ 
410,012
 
 
 
144,852
 

 
 
105,802
 
 
 
16,807,184
 
 
 
410,012
 
 
 
16,904,159
 

Operating expenses:

Compensation costs

 
 
265,096
 
 
 
247,330
 
 
 
832,747
 
 
 
771,953
 

Professional fees

 
 
138,017
 
 
 
72,295
 
 
 
469,390
 
 
 
172,591
 

Operating costs (Notes 14)

 
 
1,456,929
 
 
 
1,891,595
 
 
 
16,531,606
 
 
 
3,656,989
 

General and administrative costs (Note 15)

 
 
500,998
 
 
 
337,005
 
 
 
1,510,568
 
 
 
968,458
 

Share-based compensation (Notes 9(i))

 
 
59,504
 
 
 
1,487
 
 
 
7,527,865
 
 
 
4,460
 

Foreign exchange loss (gain)

 
 
939,036
 
 
 
(96,049
)
 
 
1,180,886
 
 
 
(4,897
)

Total expenses

 
 
3,359,580
 
 
 
2,453,663
 
 
 
28,053,062
 
 
 
5,569,554
 

Net profit (loss) and comprehensive loss

 
 
(3,253,778)
 
 
 
14,353,521
 
 
 
(27,643,050)
 
 
 
11,334,605
 

Basic and diluted net profit (loss) per share attributable to equity holders of the parent

 
 
(0.02)
 
 
 
0.09
 
 
 
(0.15)
 
 
 
0.07
 

Weighted average number of ordinary shares used in computing basic and diluted net loss per share

 
 
184,441,830
 
 
 
159,785,217
 
 
 
182,225,982
 
 
 
158,998,512
 

Cash Flow Statement

Nine months ended
 

December 31,
 

2019
 
2018
 

Unaudited
 

Cash flow from operating activities

Net profit (loss) from operations

  
(27,643,050)
 
  
11,333,119
 

Items not affecting cash:

Share-based compensation

 
7,527,865
 
 
5,946
 

Warrants issued for services

 
70,280
 
 
–
 

Changes in non???cash working capital:

Government receivable

 
(16,998)
 
 
3,904
 

Accounts payable and accrued liabilities

 
(228,731)
 
 
46,053
 

Accounts receivable and prepaid expenses

 
15,294
 
 
48,330
 

Advance from and amounts owing to license partners

 
(993,488)
 
 
(8,043
)

 
(21,268,828)
 
 
11,429,309
 

Cash flow from financing activities

Net proceeds from private placement

 
21,338,853
 
 
–
 

Proceeds from the exercise of stock options

 
126,000
 
 
–
 

Proceeds from the exercise of warrants

 
161,776
 
 
–
 

 
21,626,629
 
 
–
 

Increase (decrease) in cash and cash equivalents

 
357,801
 
 
11,429,309
 

Cash and cash equivalents, beginning of year

 
25,007,479
 
 
14,316,042
 

Cash and cash equivalents, end of period

 
25,365,280
 
 
25,745,351
 

Basis of Preparation

The condensed consolidated interim financial statements of the Company have been prepared on a historical cost basis with the exception of certain financial instruments that are measured at fair value. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Subsequent Events

On 9 January 2020, a director of the Company elected to exercise 350,000 options at an exercise price of $0.30. In order to effect a cashless exercise, as permitted under the Company's Stock Option Plan, and minimize dilution to shareholders, the Board agreed to issue 250,000 common shares in lieu of the 350,000 options intended to be exercised.

The Company also granted to the Company's IR and Marketing manager, options to subscribe for up to 200,000 Common Shares at a price of $1.20 per Share (the "Options"). The Options vest equally over three years with the first vesting period occurring on the date of issue and expire 5 years from the date of issue.

**ENDS**

For more information, please visit www.ecooilandgas.com or contact the following:

Eco Atlantic Oil and Gas

+1 (416) 250 1955

Gil Holzman, CEO

Colin Kinley, COO

Alice Carroll, Head of Marketing and IR

+44(0)781 729 5070

Strand Hanson Limited (Financial & Nominated Adviser)

+44 (0) 20 7409 3494

James Harris

Rory Murphy

James Bellman

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart

Ashton Clanfield

+44 (0)20 7710 7600

Berenberg (Joint Broker)

+44 (0) 20 3207 7800

Matthew Armitt

Detlir Elezi

Celicourt (PR)

+44 (0) 20 8434 2754

Mark Antelme

Jimmy Lea

Hannam & Partners (Research Advisor)

Neil Passmore

Hamish Clegg

Canaccord Genuity (North American Advisor)

Simon Akit

+44 (0) 20 7905 8500

+1 416 869 3820

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Notes to editors:

About Eco Atlantic:

Eco Atlantic is a TSX-V and AIM quoted Oil & Gas exploration and production Company with interests in Guyana and Namibia, where significant oil discoveries have been made.

The Group aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in stable emerging markets, in partnership with major oil companies, including Tullow, Total and Azinam.

In Guyana, Eco Guyana holds a 15% working interest alongside Total (25%) and Tullow Oil (60%) in the 1,800 km2 Orinduik Block in the shallow water of the prospective Suriname-Guyana basin. The Orinduik Block is adjacent and updip to ExxonMobil and Hess Corporation's Stabroek Block, on which sixteen discoveries have been announced and over 8 Billion BOE of oil equivalent recoverable resources are estimated. First oil production commenced in December 2019 from the deep-water Liza Field, less than 3 years from FID.

Jethro-1 was the first major oil discovery on Orinduik Block. The Jethro-1 encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent Lower Tertiary sandstone reservoirs which further proves recoverable oil resources. Joe-1 is the second discovery on the Orinduik Block and comprises high quality oil-bearing sandstone reservoir with a high porosity of Upper Tertiary age. The Joe-1 well encountered 52 feet (16 meters) of continuous thick sandstone which further proves the presence of recoverable oil resources.

In Namibia, the Company holds interests in four offshore petroleum licenses totalling approximately 25,000km2 with over 2.3bboe of prospective P50 resources in the Walvis and Lüderitz Basins. These four licenses, Cooper, Guy, Sharon and Tamar are being developed alongside partners Azinam and NAMCOR. Eco has been granted a drilling permit on its Cooper Block (Operator).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Eco (Atlantic) Oil and Gas Ltd.

ReleaseID: 577947

VANCOUVER, BC / ACCESSWIRE / February 26, 2020 / Noram Ventures Inc. ("Noram") (TSXV:NRM)(Frankfurt:N7R)(OTCPINK:NRVTF) is pleased to announce plans for Phase 5 drilling for the Zeus Lithium Project in Clayton Valley Nevada, following the successful Phase 4 drill program that significantly increased the resources. Phase 4 drilling and earlier results were used for a new resource estimate: 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resources, for a total of 201 million tonnes at 1101 ppm lithium (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent – "LCE" ; see Noram Ventures press release of February 5, 2020).

The Phase 5 drill program is slated for 1440 meters, comprising 12 drill holes at 120 m depth each. The lithium claystone is known to extend to 120 m depth across much of the property. The drill program will have both infill and step-out drill collar locations, with the intent of upgrading Indicated and Inferred Resources into Measured and Indicated Resources; and to expand the deposit to the south and east of the current resource. An upgrade to the mineral resource from inferred to Indicated or Measured would reflect a greater level of confidence in the quantity, grade or quality, densities, shape and physical characteristics of the deposit such that Modifying Factors can be applied in sufficient detail to support mine planning and evaluation of the economic viability of the deposit.

Noram management is encouraged by significant recent advances in successful lithium recovery from other claystone deposits in Nevada. Lithium Americas Corp. has the Thacker Pass lithium claystone deposit in northern Nevada, and has built a pilot plant that has produced over 5000 kg of high quality lithium sulfate brine, and has engaged experienced crystallization vendors to make battery quality lithium hydroxide samples and provide process flow sheet and cost estimates. They plan on completing a feasibility study on Thacker Pass by mid-2020 (see Lithium Americas press release January 21, 2020). Ioneer Ltd. has the Rhyolite Ridge lithium-boron claystone deposit, just 20 miles west of Noram's Zeus property. In 2018, they hired Fluor Corporation to build a pilot plant, and have successfully produced a potentially marketable lithium carbonate (>99% pure) product, as well as marketable boric acid. Their Definitive Feasibility Study is due for completion in Q1 2020 (see November 8 and December 9, 2019 Ioneer Ltd. press releases).

Adjacent to the Zeus property, Cypress Development Corp. has a similar lithium claystone deposit that is also within the Esmeralda Formation in Clayton Valley. All indications are that the Cypress' Dean-Glory deposit is nearly identical to Zeus in terms of mineralogy, and is very similar in terms of grade and tonnage. Cypress has conducted a Preliminary Economic Assessment, and announced successful lithium extraction from the claystone, and favorable economics, with all-in operating costs at less than $US 4/kg lithium carbonate produced. Lithium carbonate currently is $US 8.75/kg, so the operating margin is significant (see Cypress Development website). Noram management believes that the Zeus lithium claystone deposit is directly comparable to the Dean-Glory deposit.

C. Tucker Barrie, President and CEO of Noram Ventures Inc., states that "we are encouraged by the continued expansion of the lithium claystone resource at Zeus, now with 1.18 million tonnes LCE in-situ (900 ppm cut-off, Indicated and Inferred Resources). Phase 5 drilling is likely to further increase the resources. The data will be used for initial mine engineering plans, and the core will provide sufficient sampling of the deposit for initial chemical engineering studies to be incorporated into a Preliminary Economic Assessment report later in 2020. With our location immediately adjacent to Albemarle's Silver Peak lithium operations in Clayton Valley, we are in an excellent position to move this project forward."

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.

About Noram Ventures Inc.

Noram Ventures Inc. (TSX – Venture: NRM / Frankfurt: N7R / OTCPINK: NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low – cost supplier. The Company's primary business focus since formation has been the exploration of mineral projects. Noram's long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.

Please visit our web site for further information: www.noramventures.com

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ "C. Tucker Barrie, Ph.D., P. Geo."

President and CEO
Office: (604) 553-2279

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.

SOURCE: Noram Ventures Inc.

ReleaseID: 577677

TORONTO, ON / ACCESSWIRE / February 26, 2020 / Social media has been about connecting people together with their friends and family and being able to share their moments with each other, in the beginning. Times have changed with a massive shift in its ability to connect with others, this time bringing people together from all across the world and expanding the marketing business, with modern tools supporting content creators and marketers aiming to reach people of various audiences. With humble beginnings as your average college defying teenager, Matthew Lesiuk knew he was never going to the book smart person that society wanted him to be. With pressures to attend a university and earn a college degree, he instead chose his own path in becoming an entrepreneur. Striving to be a businessman, Matthew found his chance at financial freedom when he stumbled upon the inspiration for his future success, MNL Media.

From the age of 19, Matthew Lesiuk saw the benefits social media marketing had with the presence of social media influencers and was able to grow his own marketing agency to attain six-figure sums within 8 months of work. Growing MNL Media into one of the highest level agencies for Facebook Ads, located in Toronto, Canada. MNL Media has worked with some of the most prestigious social media influencers and organizations thanks to its massive outreach in the marketing world. Lesiuk is making it his personal mission to spread his success and now mentors others to help reach their business potential too.

From working at a local cafe to signing on with 2 clients from Canada's largest real estate agency, Matthew Lesiuk made more money per month than he did working full-time shifts at the cafe. In today's modern Renaissance, what sets the extraordinary apart from the ordinary are the ones who take the first step, starting out with a leap of faith. Lesiuk determined what it would take to live comfortably, then what would need to be made in order to be financially stable, found his mentors in other successful businessmen and took to learning the secrets of other entrepreneurs through books and the internet.

More than 2 billion active social media users are found on all different platforms using multiple social media platforms to their advantage as clever marketing tools to stay up to date with various trends in business, remaining connected with customers, and analyzing the ebb and flow of marketing and business trends. Matthew Lesiuk founded MNL Media seeing this big picture, turning social media into marketing opportunities. Being a highly skilled digital marketer, Lesiuk encourages the growth of other self-acclaimed entrepreneurs and acts as a YouTuber, posting videos about business and sales to help others thrive in an economic standpoint. He also runs his own company specializing in educating people called Agency Xlerator. Launching later in 2020.

More details about Matthew Lesiuk's agency is found on the company's website: https://www.mnl-media.com

Media Contact Information
Name: Matthew Lesiuk
Company: MNL Media
Email: matthew@mnl-media.com
Website: https://www.mnl-media.com

SOURCE: MNL Media

ReleaseID: 577950