LAKEWOOD, CO / ACCESSWIRE / August 19, 2020 / General Moly, Inc. (the "Company" or "General Moly") (NYSE AMERICAN and TSX: GMO), the only western-exchange listed, pure-play molybdenum ("moly") development company, announced its financial results for the second quarter of 2020 ("2Q 2020").

Due to the Company's inability to obtain financing to date, the Company's inadequate cash to continue operations past the third quarter of 2020, the impact of the COVID-19 pandemic on capital markets during the second quarter of 2020, and the decrease in the current and forecasted price of molybdenum, among other factors, the Company recognized a non-cash impairment charge reducing the carrying value of the Mt. Hope molybdenum project by $260.6 million as of June 30, 2020. The carrying value of Mt. Hope Project assets now totals $66.8 million. The impairment charge does not alter the Company's ownership of its underlying assets or rights.

After accounting for the non-cash write-down of $260.6 million and a $57,000 gain from the sale of non-core property in Nevada, consolidated net loss for 2Q 2020 was $262.9 million (-$1.39 per share), compared with a consolidated net loss of $2.5 million (-$0.02 per share) in the second quarter of 2019 ("2Q 2019"). The Company had $2.5 million in cash and equivalents on June 30, 2020.

The Company's current working capital is negative. Based on the Company's current operating forecast, which takes into consideration the fact that the Company currently does not generate any revenue, the Company's existing capital resources are only adequate to sustain its operations through September 30, 2020. In particular, the Company has insufficient cash to make required interest payments on its outstanding Exchange Notes and Supplemental Notes through the remainder of 2020. These conditions raise substantial doubt about the Company's ability to continue as a going concern. If the Company is unable to find an additional source of funding before the end of September 2020, the Company will be forced to cease operations and pursue restructuring or liquidation alternatives, including the filing for bankruptcy protection, in which event the Company's common stock would likely become worthless and investors would likely lose their entire investment in the Company. In addition, holders of the Company's outstanding convertible preferred stock and senior notes would likely receive significantly less than the principal amount of their claims and possibly, no recovery at all. As of the date of this news release, the Company has no commitments for additional funding and there can be no assurance that the Company will be successful in obtaining the financing required to complete the Mt. Hope Project, or in raising additional financing in the future on terms acceptable to the Company, or at all.

The Mt. Hope Project, near Eureka, Nevada, is owned 80% by General Moly and 20% by POS-Minerals Corporation ("POS-Minerals") through their membership in EMLLC, which operates the Mt. Hope Project. At June 30, 2020, EMLLC had a restricted cash balance of $2.8 million (100% basis) in a reserve account, sufficient to remain self-funded into the third quarter of 2021, based on current estimated care and maintenance expenses.

General and administrative expenses were $1.7 million in 2Q 2020, 13% lower year over year due to executive salary reductions implemented in the first quarter. Exploration and evaluation expenses of $132,000 in 2Q 2020 compared with $102,000. Interest expense was $367,000 in 2Q 2020 compared with $387,000 in 2Q 2019. Other expense in 2Q 2020 of $215,000 was related to fair value non-cash adjustments on the warrants issued to the Company's largest shareholder AMER International Group in late 2019.

Table 1: Financial Summary

($ and Shares in 000, Except Per Share)

 
 
2Q 2020
 
 
 
2Q 2019
 
 
 
1H 2020
 
 
 
1H 2019
 

Exploration & evaluation expenses

 
$
132
 
 
$
102
 
 
$
305
 
 
$
206
 

General and administrative expenses, including non-cash stock compensation

 
 
1,699
 
 
 
1,962
 
 
 
3,191
 
 
 
3,260
 

Loss on impairment charge

 
 
260,553
 
 
 
–
 
 
 
260,553
 
 
 
–
 

(Gain) on sale of non-core properties

 
 
(57)
 
 
 
–
 
 
 
(604)
 
 
 
–
 

Total Operating Expenses

 
 
262,327
 
 
 
2,064
 
 
 
263,445
 
 
 
3,466
 

Interest expense

 
 
(367)
 
 
 
(387
)
 
 
(1,126)
 
 
 
(442
)

Other income/(expense)

 
 
(215)
 
 
 
–
 
 
 
537
 
 
 
–
 

Consolidated Net Loss

 
$
(262,909)
 
 
$
(2,451
)
 
$
(264,034)
 
 
$
(3,908
)

Less: Net loss attributable to

Contingently Redeemable Non-controlling Interest

 
$
51,697
 
 
$
(25
)
 
$
51,622
 
 
$
11
 

Net Loss attributable to General Moly

 
$
(211,212)
 
 
$
(2,476
)
 
$
(212,412)
 
 
$
(3,897
)

Net Loss Per Share

 
$
(1.39)
 
 
$
(0.02
)
 
$
(1.39)
 
 
$
(0.03
)

Avg. Weighted Shares Outstanding

 
 
152,316
 
 
 
137,797
 
 
 
153,038
 
 
 
137,635
 

Table 2: Balance Sheet Summary

($ in 000)

 
June 30, 2020
 
 
Dec. 31, 2019
 

Cash and Cash Equivalents

 
$ 
2,528
 
 
$ 
4,614
 

Current Assets

 
 
3,034
 
 
 
4,886
 

Current Liabilities

 
 
35,281
 
 
 
35,364
 

Working Capital

 
 
(32,247)
 
 
 
(30,478
)

Restricted cash held at EMLLC

 
 
2,829
 
 
 
3,388
 

Other restricted cash

 
 
708
 
 
 
708
 

Total Assets

 
 
81,742
 
 
 
344,227
 

Return of contributions payable to POS-Minerals, current portion

 
 
33,641
 
 
 
33,641
 

Total Current Liabilities

 
 
35,281
 
 
 
35,364
 

Senior Promissory Notes

 
 
8,847
 
 
 
7,883
 

Other liabilities

 
 
6,512
 
 
 
5,530
 

Total liabilities

 
 
75,434
 
 
 
74,535
 

Contingently Redeemable Non-controlling Interest

 
 
120,617
 
 
 
172,239
 

Convertible Preferred Shares

 
 
1,300
 
 
 
1,300
 

Total Shareholders' Equity

 
$ 
(115,609)
 
 
$ 
96,153
 

The Company's financial advisors, XMS Capital Partners, Headwall Partners, and Odinbrook Global Advisors, continue to be engaged by the Board of Directors to assist the Company with securing incremental financing and evaluating other strategic alternatives, including the potential addition of new Mt. Hope Project partners, additional corporate strategic investors, merger opportunities, and/or the possible sale or privatization of the Company. There is no assurance that the Company will be successful in securing additional funding to be able to continue as a going concern.

In other matters, the Company's Form S-3 Registration Statement was approved as effective by the U.S. Securities and Exchange Commission ("SEC") in May 2020.

At the Annual Meeting of Stockholders on July 17, 2020, all proposals were approved by the stockholders, including the proposal regarding an amendment to the Company's certificate of incorporation providing the Board of Directors the flexibility to effect a reverse stock split of the Company's common stock. More information is described in the Company's news releases of July 20, and March 17, 2020.

Mt. Hope Project

Engineering remains approximately 65% complete at the fully permitted and construction ready Mt. Hope Project. Currently, there is no ongoing engineering and procurement effort. Through June 30, 2020, the LLC has made deposits and/or final payments of $88.0 million on equipment, mostly for the mill. The Mt. Hope Project, which is construction ready and fully permitted, is positioned as the largest moly reserve asset in the Western World.

Moly Market

The moly oxide daily global spot price per pound is currently at $7.93/lb compared with $9.20 at yearend 2019 and $11.88 at yearend 2018, according to Platts. The moly price ranged from a low of $7.33/lb to a high of $9.10/lb during the second quarter of 2020. The moly price reached a low of $7.00/lb on July 20, 2020 and breached the $8 mark on August 14, 2020.

Beginning in 2020 through mid-February, moly prices rose to nearly $11/lb. Later in February 2020, prices pulled back to the $9-range and below $9 in mid-March upon the global economic slowdown. Moly rebounded to just above $9 at the end of April but weakened below $8 in mid-June and traded in the $7-range for approximately two months.

The moly price has declined from softened demand due to the global economic contraction caused by the COVID-19 pandemic and the weakness in oil and gas industry impacting molybdenum-strengthened steel consumption. The International Molybdenum Association ("IMOA") recently reported that global moly consumption in the first quarter of 2020 at 123.6 million pounds, decreased 13% year over year. China, the largest user of moly in the world, consumed 40.3 million pounds, 18% less moly in the first quarter compared with a year ago.

The IMOA also reported that global production decreased 8% year over year to 139.2 million pounds in the first quarter of 2020. China, the largest producer of moly, saw a 6% decrease year over year to 47.7 million pounds of molybdenum output related to the shutdown. The IMOA figures translate to a first quarter surplus of 15.6 million pounds, equating to 13% of first quarter demand.

Stainless steel represents the largest use of moly, accounting for 21% of all moly consumption, according to the CPM Group ("CPM"). The International Stainless Steel Federation ("ISSF") reported an 8% drop year-over-year in global stainless steel output for the first quarter of 2020. The widespread business and industry shutdown around the globe to curb the coronavirus spread resulted in stainless steel production declines in all regions, including the largest stainless steel manufacturer China with a 9% year-over-year decrease, an 11% drop in United States of America, and a 6% decline in Europe.

On a promising note, China appears to be rebounding quickly as its cities and provinces reopen from the lockdown to curb the coronavirus spread. China's second quarter Gross Domestic Production showed a 3.2% increase year over year compared with a minus 6.8% contraction in the first quarter from the prior year, according to BMO Metals Brief. Furthermore, China's industrial production was up 4.8% year over year in June, which was the third consecutive month of growth, reported BMO.

China, the largest producer of stainless steel in the world, has been ramping up stainless steel production over the second quarter, according to CPM. China showed just a 2.7% decrease year over year ("YOY") for June 2020 in the three most popular types of stainless steel, series 200, 300, and 400, compared with the record monthly high of 2.4 million metric tons in August 2019, noted CPM. An additional positive factor for moly is that China also showed a 5.8% YOY production growth for 2Q 2020 in the series 300 stainless steel, which contains higher moly and nickel compared with series 200 steel, stated CPM.

Chart 1: Moly Weekly Spot Price (1/6/2011 – 8/14/2020)

Source: Platts

About General Moly

General Moly is a U.S.-based, molybdenum mineral exploration and development company listed on the NYSE American, recently known as the NYSE MKT and former American Stock Exchange, and the Toronto Stock Exchange under the symbol GMO. The Company's primary asset, an 80% interest in the Mt. Hope Project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with the Company's wholly-owned Liberty Project, a molybdenum and copper property also located in central Nevada, General Moly's goal is to become the largest primary molybdenum producer in the world.

Molybdenum or "moly" is a metallic element used primarily as an alloy agent in steel manufacturing. When added to steel, molybdenum enhances steel strength, resistance to corrosion and extreme temperature performance. In the chemical and petrochemical industries, molybdenum is used in catalysts, especially for cleaner burning fuels by removing sulfur from liquid fuels, and in corrosion inhibitors, high performance lubricants and polymers.

Contact:

Scott Roswell
(303) 928-8591
info@generalmoly.com
Website: www.generalmoly.com

Forward-Looking Statements

Statements herein that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to availability of cash to continue ongoing operations and the possibility of seeking bankruptcy protection, that COVID-19 is having and will continue to have an effect on financing efforts to improve liquidity, availability of insurance, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, reclamation risks, political, operational and project development risks, ability to maintain required federal and state permits to continue construction, and commence production of molybdenum, copper, silver, lead or zinc, ability to identify any economic mineral reserves of copper, silver, lead or zinc; ability of the Company to obtain approval of its joint venture partner at the Mt. Hope Project in order to mine for molybdenum, copper, silver, lead or zinc, ability to raise required project financing or funding to pursue an exploration program related to potential copper, silver lead or zinc deposits at Mt. Hope, ability to respond to adverse governmental regulation and judicial outcomes, and ability to maintain and /or adjust estimates related to cost of production, capital, operating and exploration expenditures. For a detailed discussion of risks and other factors that may impact these forward-looking statements, please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.

SOURCE: General Moly, Inc.

ReleaseID: 602354

CRANBROOK, BC / ACCESSWIRE / August 19, 2020 / Taiga Gold Corp (CSE:TGC) ("Taiga" or "TGC") has received a quarterly report from option partner SSR Mining Inc. ("SSR Mining") (NSSRM) (TSSRM) updating previously announced results from the winter 2020 exploration program on Taiga's 100% owned Fisher Property (the "Property" or "Fisher") and outlining plans for future work. SSR Mining holds the exclusive option to earn up to an 80% interest in the 34,000 ha property by completing $4M in exploration expenditures and making a total of $3.3M in cash payments to TGC. Since optioning Fisher in 2016, SSR Mining has completed extensive systematic exploration including prospecting, soil geochemical sampling, detailed geological mapping, geophysical surveys and have completed a total of 31,071m (101,913') of drilling in 79 holes for total expenditures of approximately $10,300,000. The Property is located 125km east of La Ronge, Saskatchewan and is contiguous to the north, south and east with SSR Mining's Seabee Gold Operation.

Listen to a debrief of this news release here

See Fisher area location map here.

2020 Highlights

3000m drilling planned for Mac North discovery area, to commence in mid-September
New discovery made at the Yin Zone, adjacent to the Seabee Gold Operation boundary with results of 13.74 g/t Au over 2.29m*, including 55.5 g/t Au over 0.53m* (previously announced)
Drilling at Abel Lake returned 12.13 g/t Au over 1.5m* (previously announced)
Additional high-grade intercepts at Mac North including 9.1 g/t Au reported over 1.92m* (previously announced)
Partial results remain outstanding for over half of the holes from the winter drill program

*drilled widths are estimated at 70-90% of true widths

Taiga is pleased to announce that SSR Mining intends to resume exploration at Fisher in mid-September with 3000m of drilling focused on the Mac North discovery area. The 2020 exploration program was temporarily suspended in March due to the Covid-19 outbreak. Mac North was discovered in early 2019 when drill hole FIS-19-035 intersected 3.76 g/t Au over 4.16m. Drilling since that time has continued to yield significant gold intercepts with visible gold regularly observed. The zone remains open to depth and along strike.

See Mac North section here

Fisher 2020 Q2 Program Update

SSR Mining completed 9,100m of drilling in 31 holes during the winter program that was suspended due to the Covid-19 outbreak. A number of holes that were reported in the May 14th, 2020 news release were subject to follow up sampling and results are pending for a total of 16 holes. Future exploration activity at Fisher in 2020 and beyond is designed to target a Mineral Resource discovery. Data compilation from recent drilling is underway and will guide future work. Two areas targeted for winter drilling that were not accessed in early 2020 remain viable targets for future work, subject to COVID 19 restrictions. The 2020 goals for the program are to further identify drill targets for testing evolving models and identifying additional mineralization in a structural setting similar to that observed at the nearby Santoy mine complex.

Fisher Property Summary

Both Fisher and the Seabee Gold Operation are located within the Trans Hudson Corridor, specifically within the Pine Lake Greenstone Belt. Ore geology at the Seabee Gold Operation consists of high-grade gold hosted by vein mineralization associated with shear zones that transect mafic meta-volcanic and intrusive rocks, as well as granitic rocks emplaced during the regional deformation events impacting Pine Lake rocks during the Proterozoic. Mineralization at the Seabee Gold Operation occurs at the Seabee and Santoy mine complexes, which are located approximately 14km apart. The former is affiliated with the more westerly-oriented Laonil Lake shear zone, while the latter is hosted by the Santoy Shear, a regional north-trending shear zone that has been traced over much of Fisher.

Details of the Fisher Option Agreement

To earn a 60% interest over four years, SSR Mining paid $100,000 to Eagle Plains Resources Ltd. ("Eagle Plains") (:"EPL") on signing of an option agreement and has agreed to complete a minimum of $4,000,000 in exploration expenditures and make annual cash payments of $75,000 for each of the four years of the option period. Following the Plan of Arrangement completed in April 2018, Fisher and the option agreement were transferred to Taiga. Once the 60% earn-in has been completed, SSR Mining has a 365-day, one-time option to earn an additional 20% interest (for a total of 80%) by making a cash payment of $3,000,000 to Taiga, at which time an 80/20 joint venture will be formed to further advance the Property. As announced on October 29th, 2018, Taiga further completed the purchase of a 2.5% Net Smelter Return ("NSR") from Eagle Plains, subject to reduction on certain claims by underlying NSR agreements. Taiga's NSR may be reduced by 1% at any time upon payment of $1,000,000 by the joint venture. In addition, Taiga will receive advance royalty payments of $100,000 annually from the joint venture until commencement of commercial production.

Analytical Methods and QA/QC Procedures

Samples collected for assay from diamond drill core are sent to TSL Laboratories in Saskatoon, SK for fire assay. The drill core is split and half of the core is retained. The assay lab implements internal analytical quality control measures consisting of inserting gold control samples (blanks, certified reference material and field and pulp duplicates) in all sample batches submitted for assaying. In addition to internal laboratory quality control, SSR Mining inserts 6 control samples for every 100 samples submitted. The control samples consist of alternating a blank and a certified gold standard every 20th sample, and a field duplicate every 50th sample. The samples are processed and analyzed by fire assay or screen metallic fire assay depending on the nature of the sample.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains and Taiga, has reviewed and approved the scientific and technical disclosure in the news release.

About Taiga Gold Corp

Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and was listed on the CSE in April 2018 under the symbol "TGC". The company owns 6 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship "Fisher" property is currently being explored by SSR Mining under option from Taiga.

See Taiga Gold Project Location Map here

Taiga's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the best places in the world in terms of Investment Attractiveness. Throughout the exploration and development process, the Company's mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Taiga Gold Corp

ReleaseID: 602341

Engages Alegre Resources to assist in Drill Hole Selection

VANCOUVER, BC / ACCESSWIRE / August 19, 2020 / VanGold Mining Corp (the "Company" or "VanGold") (TSXV:VGLD) is continuing its summer exploration program of the El Pinguico silver and gold project located 7km south of Guanajuato, Mexico by re-entering the El Pinguico shaft. The Company has also engaged the geological consulting services of Alegre Resources Corp. to assist in computer modeling of the El Pinguico vein systems, and to generate drill targets for its autumn drill program.

El Pinguico Shaft:

Company crews have now entered the El Pinguico shaft and have safely accessed the #6 adit level. We believe that this is the first time that the #6 level has been accessed in this location since the mine was closed in 1913. In the days ahead, crews intend to clean and refurbish the 5th and 6th adit levels before attempting to reach our goal of accessing the 7th (or Sangria) adit level. From the Sangria level, we anticipate being able to sample the bottom of the underground stockpile (which crews are also able to view from the 6th level), as well as in-situ vein material. It is anticipated that a large section of exposed vein material at the 6th level, unknown prior to this work, will be among the areas sampled by channel sampling.

The shaft entrance and surrounding area have been cleaned and prepared ahead of the installation of a one tonne hoist onto our metal headframe, and the installation of a large winch which was accomplished last week. A diesel generator is scheduled to arrive today, which will power the winch, and crews can begin removing debris material from the bottom of the shaft. A protective cage has also been constructed, which will allow crews to operate safely while work is done on the hoist and headframe approximately 150m directly above.

Geological work:

Geological crews are expected to arrive on Monday, August 24th to begin a series of exploration initiatives which will support drill hole targeting. Both underground and surface structural mapping will be undertaken on a 1:1000 scale. This will allow interpretation of fault structures within the deposit and establish a greater understanding of how these fault structures may have displaced vein material. Crews will also begin systematically sampling exposures of vein material within the mine's old workings, and later begin a trenching campaign to target vein material immediately south of the main El Pinguico mine area. All of this work is in preparation for underground drilling anticipated to commence in mid-autumn.

Alegre Resources Corp:

VanGold has engaged the services of geological consulting firm Alegre Resources Corp. Based in Vancouver, Canada, Alegre has earned a reputation for innovative, practical and cost effect approaches to exploration. Alegre has developed programs in many countries, and with a focus on precious metals in Latin America. VanGold Mining Corp. director and geologist Bill Gehlen said, "We are delighted to have the team at Alegre involved in target recognition and target generation for this project. There is ample old data from El Pinguico to synthesize, and create drill targets, however there is no historic drill-hole data base to start from. We therefore want to take the time and do the work necessary to ensure a strong start to our drilling when it commences."

Covid-19 Delays:

It should be noted that the above-mentioned work is now advancing on time, and at planned pace and budget, after several short Covid-19 related delays. In May and June, when the Company undertook to send a 1,039 tonne bulk sample to Endeavour Silver's Bolanitos mill, we were able to accomplish that work with little or no disruption regarding Covid-19 protocols. Recently, during the commencement of underground work related to reopening the El Pinguico shaft, the Company has experienced occasional short delays due to the practicing of Covid-19 related procedures. We view these delays as acceptable under the circumstances. VanGold will not put any of its employees or contractors in unnecessary jeopardy; and all reasonable precautions related to the spread of the virus continue to be adhered to.

The El Pinguico Project:

El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until 1913. Toward the end of that period it was mined exclusively by The Pinguico Mines Company of New York City, whose shares traded on the Boston and New York Stock Exchanges. The mining was done principally from the El Pinguico and El Carmen veins, which are thought to be splays off the Mother Vein, or ‘Veta Madre'.

The Veta Madre is associated with a mega fault that outcrops for 25 kilometres and is the most important source of precious metal mineralization in the region. The Veta Madre may cross VanGold's property at depth, underneath the high grade El Pinguico and El Carmen veins. Very limited drilling has been done on the property and no drilling has attempted to encounter the Veta Madre at depth.

Hernan Dorado Smith, a director of VanGold and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

About VanGold Mining Corp.

VanGold Mining is an exploration and development company engaged in reactivating high-grade past producing silver and gold mines near the city of Guanajuato, Mexico. The Company's El Pinguico project is a significant past producer of both silver and gold located just 7km south of the city. The Company remains focused on the near-term potential for development and monetization of its surface and underground stockpiles of mineralized material at El Pinguico, and in delineating silver and gold resources through underground and surface drilling on projects located in this historic mining camp.

ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO

For further information regarding VanGold Mining Corp, please contact:

James Anderson, Director, +1 (778) 989-5346
Email: james@vangoldmining.com

Continue to watch our progress at: www.vangoldmining.com

This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the actual size, timing and use of proceeds of the Financing, the proposed work program at the Company's El Pinquico project in Mexico, and the potential for near term monetization of existing stockpiles of mineralized material at El Pinguico) and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and development activities, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the Company's operations, supply chains, ability to access El Pinguico or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.

VANGOLD MINING CORP.
PH: +1(778) 989-5346 E: info@vangoldmining.com W: vangoldmining.com
CA: Suite 2820 – 200 Granville Street, Vancouver B.C. V6C 1S4
MX: Carretera – Guanajuato – Silao km 5.5, Int 4, Col. Marfil CP36250, Guanajuato, Gto., Mexico

SOURCE: Vangold Mining Corp.

ReleaseID: 602344

NEW YORK, NY / ACCESSWIRE / August 19, 2020 / Erie, Pennsylvania native Jacob Gland is a motivational speaker, life coach, recovery coach, and a nationally certified interventionist. Through his speaking and coaching business, JacobGland.com LLC, and social media platforms, Jacob is on a mission to educate and inspire as many people as possible.

Jacob Gland was raised in a typical family setting. He had a good childhood, friends, and was always eager to try new things. The latter, although often lauded as a good trait, would soon prove to be his downfall. Years passed, and soon it was time for Jacob to go off to college.

A wide-eyed Jacob Gland entered the halls of the University at Buffalo and got his hands on something he was excited to try out: drugs, specifically methamphetamine. Once he got a taste, everything changed, and his once-ordinary life would soon only take the elevator down.

His early 20s were characterized as "failed attempts at getting and staying clean." Jacob Gland's drug addiction only grew as he became dependent on the substance to quiet his inner demons. Soon, the young college student would branch out to alcohol, and then self-harm. Every day was an endless game of Russian roulette.

On December 4, 2017, Jacob Gland miraculously survived his last turn at the game. On that monumental day, a self-inflicted gunshot woke him up from the drug-induced, disillusioned life he had been living. Years after, due to the incident, a 28-year old Jacob Gland was diagnosed with post-traumatic stress disorder (PTSD), which robbed him of his freedom.

However, a bright light was waiting at the end of his dark tunnel. That light came in an adorable brown and black form and a wagging tail. Jacob Gland finally got his life back when he met his battle buddy, PTSD service dog Liberty, whom he found in an organization called New Hope Assistance Dogs.

Rediscovering his purpose, Jacob Gland was determined to assist those navigating their way around hurdles that once stood in his path. 70% of adults in the United States experience a traumatic event during their life, and the driven mental health advocate was eager to make sure that none of the 70% would feel alone in their battle.

Jacob Gland reveals, "If I can survive and overcome everything I did, I have to share my story and education because I never want anyone to take it to the extent that I did. My past does not define me, and I choose to not live in it! I choose to keep on moving forward and leaving a positive impact."

With this in mind, Jacob Gland went back to school and received his international masters in addiction coaching from The Addictions Academy. There he achieved multiple coaching certifications and became a nationally certified interventionist, as well. Through his experience as a suicide survivor and his education, Jacob Gland found his passion for public speaking and mentoring young minds.

Together with Liberty, he lives to impact lives and let everyone know that it is possible to do the impossible, that there is light in the darkness. Although it still hurts him to speak intimately about his experience with mental health and self-harm, Jacob Gland muddles through the pain to become the voice for those without one.

"Liberty and I are on a mission to impact as many lives as we can. Every life is worth it and we want that message to reach across this country."

Jacob and Liberty have been documenting their awe-inspiring journey together on Instagram, bringing hope to those living with PTSD and reminding their reach that it is never too late to get their lives back. For more information or to reach out to the duo, visit JacobGland.com LLC on its official website.

Company: JacobGland.com LLC
Email: jacob@jacobgland.com
Phone: (814)860-4345
Website: www.jacobgland.com

SOURCE: JacobGland.com

ReleaseID: 602371

NEW YORK, NY / ACCESSWIRE / August 19, 2020 / CEO and executive producer Jacob Zetino is an accomplished fourteen-time award-winning producer with a broad experience in film, television, and digital production. He founded Dapper Penguin Entertainment in Beverly Hills, California, where he is beginning the expansion of multiple divisions within the company, adding television and media and developing a platform that will rival Hulu and Netflix.

More than ever, audiences need a fresh platform that features original content and never-before-seen stories. Dapper Penguin aims to put a spotlight on smaller creators who have struggled to push their work onto mainstream platforms while offering the latest movies from big-name production companies at the same time.

The people behind the production company pride themselves on their ingenuity. As the company continues to grow and work on more projects, so does the team. The Dapper Penguin team consists of accomplished executives, creatives, and talents that have proven themselves on many different projects. With today's mind-blowing technology, the company believes they can breathe new life into more traditional forms of production. This gives them a dynamic approach that allows them to cut production costs and have faster turnarounds in creating and producing content for millions of viewers.

If there's one thing that the COVID-19 pandemic has taught the entertainment industry, it's that the current method of production cannot continue if leaders want to keep the industry alive when the world is facing a crisis. Dapper Penguin's ingenious scheme allows them to continue to work when others have shut down.

Many Dapper Penguin Entertainment productions have won accolades, such as The Devil Lives in Clarksville County, Daydream, Blood Bonds, and the series Fuzz & Malloy, a collaboration with award-winning writer and creator Joe Wakefield. Recently, the company won awards for Sins Unveiled, with attachments twin brothers, Matthew and Russell Dennis Lewis (Godless, The Queen's Gambit, and Blue Bloods), Robin Shelby (Ghostbusters II, Ghostbusters 2016), and Aaron Schwartz (Guardians of the Galaxy Vol. 2 and The Mighty Ducks II).

Amid the COVID-19 pandemic, Jacob is working tirelessly to develop and produce more content for content-hungry audiences. His priority is to strategize the use of technology to reduce production costs while still creating quality content that rivals HBO, Netflix, and other competitors.

The company recently welcomed new leadership on its team, with Liz Vacovec as president of Dapper Penguin Entertainment and Nicole Layson and Daniel Sydnor as senior vice presidents of film and television. A president for the new platform, Dapper Penguin Cubed (DP³), is currently in negotiation.

Since he was younger, Jacob had always wanted to make his mark in the entertainment industry. He pursued education from the conservatory of acting program at the New York Academy. He then further built up his foundation on The Los Angeles Film School in Hollywood, California, where he graduated after majoring in both producing and filmmaking.

Prior to that, he served in the United States Army for ten years, receiving multiple commendations before being honorably discharged as a sergeant in 2012. He had deployments to Afghanistan and smaller stints in other countries. While serving, he worked with general officers, senators, royal dignitaries, and celebrities.

He is a proud member of Veterans in Media & Entertainment and the American Legion Post 43 Hollywood, California, whose members have included Hollywood luminaries such as Clark Gable, Charlton Heston, Mickey Rooney, Gene Autry, Ronald Reagan, Stan Lee, and more.

Jacob Zetino has come a long way since he dared to dream in his childhood. He has won fourteen awards so far and was even featured in Yahoo! Finance's Top 10 Entrepreneurs to Make an Impact in 2020 list. He continues to set milestones for himself amid the changes in his industry.

Read more about Dapper Penguin on the website and be sure to follow Jacob Zetino on Instagram for more updates.

Company Name: Dapper Penguin Entertainment

Email: contact@dapperpenguininc.com

Phone: 1 (323) 524-9869

Website: https://dapperpenguininc.com

SOURCE: Dapper Penguin Entertainment

ReleaseID: 602370

VANCOUVER, BC / ACCESSWIRE / August 19, 2020 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company) is pleased to announce that the Company is advancing its exploration plan for its Mal-Wen, British Columbia property.

The Mal-Wen Property consists of 6 mineral claims with a total area of 1143.58 hectares that is located about 30 km southeast of Merritt in south-central British Columbia.

The Mal-Wen Property is within the eastern belt of the Nicola Group, in south-central BC, which hosts numerous alkalic porphyry deposits, including the presently producing New Afton Mine and past producers Ajax and Copper Mountain.

Recent work by Victory Resources on the Mal-Wen property has led to an exploration model in which the Cu + Au mineralization at the Mal and Wen Prospects may be peripheral to a larger Alkalic Porphyry system. The area between and targets at both prospects remain unevaluated.

The Wen Prospect features a zone of alteration and Cu bearing breccias at least 70 m wide and over 400 m in length that contains a quartz vein with Au grades up to 16.6 g/t over 6.6 m (true width 4.4 m). Associated soil and geophysical anomalies are open to the north.

The Mal is a poorly characterized zone of possible copper skarn that is associated with a coincident magnetic and chargeability anomaly. Historical drilling has not tested the main anomaly, but has returned up to 0.5 g/t Au over 8.8 m (true width unknown) and 1.6% Cu over 6 m from mineralization peripheral to the main coincident anomaly. A larger IP anomaly to the east of the Mal Prospect remains untested.

The current focus is on:

The underexplored area between the two deposits
Untested geophysical targets at the Mal Prospect
Assessing the possible northern extension of the Wen Zone

"Alkalic porphyry deposits are attractive exploration targets, as they can form large Cu deposits that are often enriched in Au relative to calc-alkalic porphyries," said Victory geologist Helgi Sigurgeirson, "They are often lower in sulphides, which reduces their environmental risk. The BC Geological Survey has done considerable work in recent years evaluating this belt for its alkalic porphyry potential, and the Mal-Wen Property is prospective for this style of mineralization."

Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory geologist, and a "qualified person" under NI 43-101.

For further information, please contact:

Ivy Lu
Investor Relations

David Lane
President
Telephone: +1 (236) 317 2822
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also currently seeking other exploration opportunities, preferably in Canada.

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

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corporation

ReleaseID: 602343

ABINGDON, OXFORDSHIRE / ACCESSWIRE / August 19, 2020 / Midatech Pharma PLC (AIM:MTPH.L)(NASDAQ:MTP), a drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines, announces that it has issued to certain US investors 500,000 American Depositary Shares ("ADSs"), representing 2,500,000 ordinary shares of 0.1p each in the Company ("New Ordinary Shares"), in connection with the exercise of pre-existing warrants by such investors at an exercise price of $2.05 per ADS. Each ADS represents five ordinary shares. The gross proceeds received by the Company from the exercise of these warrants is $1,025,000.

Application has been made for admission of 2,500,000 New Ordinary Shares to trading on the AIM Market of the London Stock Exchange ("Admission"), which is expected to become effective at 8.00am on or around 21 August 2020. The New Ordinary Shares will rank pari passu with the existing ordinary shares.

The Company's issued share capital following the issue of equity noted above, will comprise 63,048,852 Ordinary Shares each with voting rights. The Company does not hold any shares in treasury. This figure of 63,048,852 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information, please contact:

Midatech Pharma PLC
Stephen Stamp, CEO, CFO
Tel: +44 (0)1235 888300
www.midatechpharma.com

Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)
Freddy Crossley, Emma Earl (Corporate Finance)
James Stearns (Corporate Broking)
Tel: +44 (0)20 7886 2500

Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker (Corporate Broking)
Tel: +44(0)20 3657 0050

IFC Advisory Limited (Financial PR and UK Investor Relations)
Tim Metcalfe / Graham Herring
Tel: +44 (0)20 3934 6630
Email: midatech@investor-focus.co.uk

Edison Group (US Investor Relations)
Megan Paul
Tel: (646) 653 7034
Email: mpaul@edisongroup.com

About Midatech Pharma PLC

Midatech Pharma PLC (dual listed on LSE AIM: MTPH; and NASDAQ: MTP) is an R&D company focused on 'Making Medicines Better' by improving delivery of drugs in the body. The Company combines existing medications with its proprietary and innovative drug delivery technologies to provide compelling oncology and rare disease products that have the potential to powerfully impact the lives of patients undergoing treatment for life threatening diseases.

The Company has developed three in-house technology platforms, each with its own unique mechanism to improve delivery of medications to sites of disease. All of the Company's technologies have successfully entered human use in the clinic, providing important validation of the potential for each platform:

Q-Sphera™ platform: a disruptive micro-technology used for sustained release to prolong and control the release of therapeutics over an extended period of time (from weeks to months).
MidaSolve™ platform: an innovative nanotechnology used to dissolve insoluble drugs so that they can be administered in liquid form directly and locally into tumours.
MidaCore™ platform: a leading edge nanotechnology used for targeting medications to sites of disease.

By improving bio-delivery and biodistribution of approved existing molecules, Midatech's unique R&D has the potential to make medicines better, lower technical risks, accelerate regulatory approval and route to market, and provide newly patentable products. The platform nature of the technologies allows the potential to develop multiple drug assets rather than being reliant on a limited number of programmes.

Midatech's technologies are supported by 36 patent families including 120 granted patents and an additional 70 patent applications.

Midatech's headquarters and R&D facility is in Cardiff, UK. For more information please visit www.midatechpharma.com

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of legislation in the United Kingdom and/or United States Private Securities Litigation Reform Act. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements.

Reference should be made to those documents that Midatech shall file from time to time or announcements that may be made by Midatech in accordance with the London Stock Exchange AIM Rules for Companies ("AIM Rules"), the Disclosure and Transparency Rules ("DTRs") and the rules and regulations promulgated by the US Securities and Exchange Commission, which contains and identifies other important factors that could cause actual results to differ materially from those contained in any projections or forward-looking statements. These forward-looking statements speak only as of the date of this announcement. All subsequent written and oral forward-looking statements by or concerning Midatech are expressly qualified in their entirety by the cautionary statements above. Except as may be required under the AIM Rules or the DTRs or by relevant law in the United Kingdom or the United States, Midatech does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise arising.

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: Midatech Pharma PLC

ReleaseID: 602330