MIDDLETOWN, NY / ACCESSWIRE / September 24, 2020 / Orange County Bancorp, Inc. (the "Company" )(OTCQX:OCBI), parent company of Orange Bank & Trust Co. (the "Bank") and Hudson Valley Investment Advisors, Inc. (HVIA), today announced completion of a private placement of $20 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2030 (the "Notes") to certain qualified institutional buyers and accredited institutional investors.

The Notes have a maturity date of September 30, 2030 and bear interest, payable semi-annually, at the rate of 4.25% per annum, until September 30, 2025. Commencing on that date, the interest rate applicable to the outstanding principal amount due will reset quarterly to an interest rate per annum equal to the then current three-month secured overnight financing rate (SOFR) plus 413 basis points, payable quarterly until maturity. The Notes received an A- rating from Egan-Jones Ratings Company.

The Company intends to use the net proceeds for general corporate purposes, including to support organic growth and potential stock repurchases.

"We are pleased to announce the successful completion of our subordinated debt offering on favorable terms. Completion of this offering is consistent with our strategic plan to grow business banking market share in our legacy market of Orange County, New York as well as our exciting newer opportunities in Rockland, Westchester and the Bronx," said Michael Gilfeather, President and Chief Executive Officer at Orange Bank & Trust Company. "The fact the offering was oversubscribed illustrates the financial strength of the institution and this addition of capital gives us the fuel to grow and ability to take advantage of opportunities on behalf of our customers and shareholders, all without diluting ownership of our current shareholders."

Piper Sandler & Co. served as sole placement agent for the offering. Luse Gorman, PC, served as legal counsel to Orange County Bancorp, Inc. and Covington & Burling LLP served as legal counsel to Piper Sandler & Co.

About Orange County Bancorp, Inc.
Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through conservative banking practices, ongoing innovation and an unwavering commitment to its community and business clientele to more than $1.5 billion in total assets. In recent years, Orange Bank & Trust Company has added branches in Rockland and Westchester Counties. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and was acquired by the Company in 2012. For more information, visit orangebanktrust.com or hviaonline.com

For further information:
Robert L. Peacock
EVP Chief Financial Officer
rpeacock@orangebanktrust.com
Phone: (845) 341-5005

This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, any security, nor shall there by any sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Notes have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold absent registration or an applicable exemption from the registration requirements. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund. This release contains forward-looking statements that are not historical facts and include statements about management's strategies and expectations about our business. There are risks and uncertainties that may cause our actual results and performance to be materially different from results indicated by these forward-looking statements. Factors that might cause a difference include the extent of the adverse impact of the current global coronavirus outbreak on our customers, prospects and business, as well as the impact of any future pandemics or other natural disasters; economic conditions; civil unrest, rioting, acts or threats of terrorism, or actions taken by the local, state and Federal governments in response to such events, which could impact business and economic conditions in our market area; unanticipated loan losses, inability to close loans in our pipeline, lack of liquidity; varying and unanticipated costs of collection with respect to nonperforming loans; an inability to dispose of real estate owned; changes in interest rates, changes in FDIC assessments, deposit flows, loan demand, and real estate values; changes in relationships with major customers; operational risks, including the risk of fraud by employees, customers or outsiders; competition; changes in accounting principles, policies or guidelines; changes in laws or regulations and in the manner in which the regulators enforce same; new technology and other factors affecting our operations, pricing, products and services.

SOURCE: Orange County Bancorp, Inc.

ReleaseID: 607741

~ Drilling to Commence in November ~

VANCOUVER, BC / ACCESSWIRE / September 24, 2020 / VanGold Mining Corp (the "Company" or "VanGold") (TSXV:VGLD) reports it has purchased an underground drill for use on its El Pinguico silver and gold project, located 7km south of Guanajuato, Mexico.

Purchase of Underground Drill Rig:

After examining numerous alternatives, the Company has ordered an Explorer – 75E core drill rig from Grupo Ingetrol S.A de C.V. of Torreon, Mexico. Among other desirable attributes, this drill is small enough to fit into many of the adits, drifts, and galleries of El Pinguico's old workings, while still being able to target the broad strike length of potential new in-situ material of the main El Carmen / El Pinguico vein system. The machine is rated capable for drilling 200 meters of HQ size core, or 430 meters of NQ size core. The Company has therefore also ordered 200m and 430m, respectively, of the corresponding drill casing in order to have the capability of drilling holes to those lengths.

VanGold expects to receive delivery of the drill within 60 days and that drilling will commence toward the end of November 2020. Though the rig can also drill from surface, the company will focus drilling initially from underground into the ‘Don Ricardo' target area from crosscuts off of the #4 Adit level.

See image of proposed drill pattern on pages 9 through 11, and 18 of this presentation

Clearing of the El Pinguico Shaft:

The company is currently focused on clearing 30m of material blocking access from the El Pinguico shaft to the #7 adit level. The company plans to sample the bottom of its underground stockpile once access is achieved. On September 19, 2020, the Company's winch system failed to operate properly due to a worn drive shaft. Replacement parts have been ordered and are due to arrive in Guanajuato on September 28. Because of this and additional brief delays, the Company estimates that it is 16 days behind schedule in its plans to remove material from the El Pinguico shaft. The Company also estimates that there has been no material change in the budget for this undertaking, and that costs are materially on plan.

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. Current geologic interpretation, based on regional mapping and projections from the Veta Madre developed at adjacent historic mine operations, suggest that the Veta Madre vein system 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 yet attempted to encounter the Veta Madre at depth. The intersection of these major vein structures are excellent exploration targets and may result in zones of significant size and grades.

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.

Underground Stockpile:

Sampling the bottom of the underground stockpile: The underground (UG) stockpile consists of material that in 2012 the Mexican Geological Survey agency determined to be 148,966 tonnes in size. In 2017, VanGold conducted a trenching program at the top of the UG stockpile. This program resulted in a weighted average of all of the trench samples of 1.75 g/t Au and 183 g/t silver.

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

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 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: 607734

ATLANTA, GA / ACCESSWIRE / September 24, 2020 / It all started long before Neshaszda Wright had appeared in her first viral video: a homage to her son's second birthday, which cleverly captured the theme of the Prince of Bel-Air and grabbed the attention of the entire city of Atlanta. Neshaszda Wright has always possessed the entrepreneurial spirit, whether it's running her photography and videography business, mothering her children, or awarding scholarships to deserving students. Neshaszda credits creativity for a large portion of her success.

For Neshaszda Wright, Education is Key

Neshaszda Wright became set in her entrepreneurial ways while studying at Albany State University, an HBCU focused on providing opportunities to its students. While in college, she became a college campus queen, winning Miss Albany State University, Miss Freshman, and several other competitions. She was even featured in Ebony Magazine as one of the Top 10 Ebony HBCU Campus Queens. Out of her HBCU experience, she also became a member of Delta Sigma Theta Sorority, Inc.

While these experiences helped shape her, it is ultimately her commitment to education that fuels her passion. Today, Neshaszda Wright focuses on instilling educational values in her children by equipping them with the tools necessary to tap into their creative and entrepreneurial spirit. Speaking of her children, Neshaszda's kids also play a big part in her inspiration. Neshaszda has authored a children's book entitled, "The Dream Machine" and is currently working on a 2nd work that will be centered around the values she wants to teach her children. Out of all of her accomplishments to date, Neshaszda values motherhood the most. For Neshaszda, her children will always come first.

Even in the midst of a pandemic, Neshaszda wants to give others the chance to pursue education by providing scholarships to graduating students, knowing that learning can unlock many doors in the entrepreneurial world. To date, she's given away six scholarships with plans to give away another scholarship this year.

Neshaszda Wright Adds Discipline to Creativity

Education isn't the only thing that gives power to her creativity. Notwithstanding her strong Christian worldview, Neshaszda Wright also values the discipline that she gained from her time in the US Army. Once she finished her time in the military, she had formed habits and discipline that would serve her entrepreneurial endeavors well. Neshaszda's husband is still in the Army, and when he's not on deployment, the couple enjoys listening to music with each other and enjoying their time together.

Neshaszda Wright's Photography Business

These days, Neshaszda Wright pours her creativity and discipline into her photography business. She focuses primarily on wedding and engagement photography, capturing the best moments for each couple. Clients praise Neshaszda's eye for lovely, natural moments. "She makes you feel at ease," one client said, "and she has a knack for getting those moments that you want to remember most."

Contact Neshaszda Wright for More Information

For more information or to book a photo session, contact Neshaszda Wright today. You can also take a look at some of her work on her Facebook page.

CONTACT:
Caroline Hunter
Web Presence, LLC
+1 7865519491

SOURCE: Neshaszda Wright

ReleaseID: 607740

LAS VEGAS, NV / ACCESSWIRE / September 24, 2020 / The 17th annual Casino Marketing & Technology Conference, a virtual event to be held November 9-11, will offer a unique and comprehensive learning opportunity for casino marketers who face challenges that are wide-ranging and unprecedented in the time of COVID19,.

"From reduced gaming capacity to the elimination of key non-gaming amenities against a backdrop of consumer fear and uncertainty, the ‘new normal' for casinos has fundamentally changed the game for marketers," said Charles Anderer, Executive Editor, Casino Journal, producers of the event. "Casino Marketing & Technology Conference and its pre-event workshop, Raving Consulting's Loyalty and Player Development Conference, has tailored every session topic to the unique circumstances of this moment, offering marketers an opportunity to apply what's working, and avoid what's not, in their daily jobs."

The learning starts before the event goes live, with Raving's pre-recorded Loyalty & Player Development Conference boot camp sessions that will be available starting November 2. Raving will review key terms and strategies for a progressive loyalty club, and discuss strategies for casinos relying on fewer or less experienced team members, more kiosks and changing protocols due to COVID restrictions.

Other COVID19-related topics to be explored include:

Comps: In "You Want What? Practical Reinvestment and Comp Strategies for Hosts," focuses on the issue of comp strategies in a time of no concerts, large VIP gatherings, and limited amenities and hosts are asked to do more with less. How do you know how much to give, what to give and resist turning on the "free play faucet"?

Reward programs: Attendees will learn the math behind setting a point structure and the pitfalls to avoid, including overinvestment in loyalty club tiers. In light of COVID, it is critical that rewards and offers are based on a solid, core math base.

Player Acquisition: As there has been some shift of demographic for the short-term, how do you determine if a new player is worth your time? How do you make up for players that are just not coming back?

Touchless Technologies: People don't want to stand in line, they want more independent interactions that they don't have to physically interact with employees. Clubs may be operating with less staff. How do we streamline interactions with guests and employees to limit direct contact?

COVID19 will remain center stage at Casino Marketing & Technology Conference. Topics will include:

Customer Service: The importance of front-line team members remains paramount, but they can't be counted on alone to resolve conflicts arising between those who embrace safety measures and those who question them. Casinos are in an all-hands-on-deck environment where top management, gaming operations and surveillance must all play a role.

Database management: Relational databases are a marketer's most powerful tool, but the disruptions associated with COVID19 have not made the task any easier. Hear from speakers who have been in the trenches and will discuss five key barriers to successful casino marketing database management and how to surmount them.

Promotions: Marketing in a pandemic means promoting to customers in ways that appeal to their gaming needs and don't reduce their comfort level on-site. Free play still wins, car promotions and large crowds will not be of interest in the short term. Point multipliers are touchless so they can be a good motivator for high-value players. These are among the early takeaways on casino promotions post-reopening, but how are they evolving?

Staffing: Hear from your peers how they are working with their teams to stay productive and engaged while dealing with everyday issues such as training, scheduling, working-from-home, and staying in touch (or not) while on vacation. You'll also hear job satisfaction data on their casino employee priorities, such as career advancement, and work/life balance issues.

Casino Marketing & Technology Conference attendees will be offered a digital platform that allows them to view sessions live and on-demand, network, online chat with other attendees, schedule meetings, download important content and more.

Full virtual event details and registration information are available at www.casinomarketingconf.com Sponsorships and exhibit booths are available by contacting Sean Bogle at (248) 786-1719; bogles@bnpmedia.com

Media Contact:

Charles Anderer
Executive Editor
BNP Media Gaming Group
(914) 948-5758
andererc@bnpmedia.com

SOURCE: Casino Marketing & Technology Conference

ReleaseID: 607693

CRANBROOK, BC / ACCESSWIRE / September 24, 2020 / Eagle Plains Resources Ltd. (TSXV:EPL), ("EPL" or the "Company") shareholders approved all matters put before them at the Company's Annual and Special Meeting held on September 24th, 2020 at the Company's offices in Cranbrook, BC.

Elected the following directors of the Company for the ensuing year: Timothy Jay Termuende, Charles C. Downie, Glen J. Diduck, Darren B. Fach, William (Bill) Bennett and Paul Reynolds;
Appointed Crowe MacKay LLP as auditors of the Company for the ensuing year;
Passed a resolution approving the renewal of the Company's Stock Option Plan;

Eagle Plains remains active in the junior mining space, with ongoing projects targeting a variety of commodities located in British Columbia, Saskatchewan, Yukon, and NWT. The Company remains financially healthy and currently holds $5.9M cash in treasury, over $3.4M in short-term investments and no debt. In addition, Eagle Plains owns a modern office building, additional lands and structures in the East Kootenay region, automobiles, field and office equipment. TerraLogic Exploration Inc., EPL's 100%-owned subsidiary, continues to generate significant revenue through its mineral exploration consulting activities for third-party clients.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Managements' current focus is to preserve its treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding 130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the top 3 jurisdictions in the world in terms of Investment Attractiveness. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2019 on Eagle Plains-related projects exceed $20M, most of which was funded by third-party partners. This exploration work resulted in approximately 30,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

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

Cautionary Note Regarding Forward-Looking Statements

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 statements including but not limited to comments regarding the timing and content of upcoming 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: Eagle Plains Resources Ltd.

ReleaseID: 607720

CRANBROOK, BC / ACCESSWIRE / September 24, 2020 / Taiga Gold Corp. (CSE:"TGC"), ("Taiga"), (the "Company") shareholders approved all matters put before them at the Company's Annual and Special Meeting held on September 24th, 2020 at the Company's offices in Cranbrook, BC.

Elected the following directors of the Company for the ensuing year: Timothy Jay Termuende, Charles C. Downie, Glen J. Diduck, Darren B. Fach, Jesse T. Campbell and Paul Reynolds;
Appointed Crowe MacKay LLP as auditors of the Company for the ensuing year;
Passed a resolution approving the renewal of the Company's Stock Option Plan;

About Taiga Gold Corp

Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. in 2018 and 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, with drilling activity currently underway on the project.

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, our 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: 607723

ABX464 Phase 2a ulcerative colitis two-year maintenance study results confirm good safety profile and durable efficacy of 50 mg once-daily oral ABX464
77% (180/232) of patients randomized in ABX464 Phase 2b ulcerative colitis study, recruitment expected to be completed by the end of 2020
ABX464 pivotal Phase 2b/3 trial for Crohn's disease planned with anticipated start of patient recruitment in Q1 2021
ABX464 Phase 2b/3 Covid-19 study, ABX464 Phase 2a rheumatoid arthritis study and ABX196 Phase 1/2 hepatocellular carcinoma trial all making progress
Cash for operations until beginning 2021, with major financing secured through non-dilutive funding from Bpifrance (EUR 36m) and a state-guaranteed loan from Société Générale (EUR 5m)

PARIS, FRANCE / ACCESSWIRE / September 24, 2020 / Abivax (Euronext Paris: FR0012333284 – ABVX), a clinical-stage biotechnology company harnessing the immune system to develop novel treatments for inflammatory diseases, viral diseases and cancer, today announces its 2020 half-year financial results, as of June 30, 2020, and provides an update on its pipeline progress. The financial statements for the first half of 2020, approved by the Company's Board of Directors on September 22, 2020, have been audited and the certification report is being prepared by the Company's external auditors.

Prof. Hartmut Ehrlich, M.D., CEO of Abivax said: "Abivax has made tremendous progress in its ongoing clinical programs despite the Covid-19 pandemic, and the recruitment pace is now back on a pre-Covid-19 level. This is particularly important for Abivax's priority clinical program, the ABX464 Phase 2b trial in ulcerative colitis, conducted in 15 European countries as well as the US and Canada, with 77% of patients already randomized to date. We expect recruitment in this trial to be completed by the end of this year and to report top-line results in early Q2 2021. Given the fast enrollment, KOL and investigators' commitment, and high patient retention rate, we are confident that the outcome of this study will confirm the very promising two-year Phase 2a maintenance data that we announced at the beginning of September. Additionally, we were able to efficiently set up the miR-AGE trial to test the potentially beneficial triple effect of ABX464 for the treatment of high-risk Covid-19 patients. The trial is ongoing in six European countries and Brazil, and we expect to open centers in Mexico, Chile and Peru shortly. As always, our strategic decisions are driven by value generation for our shareholders as well as the ability to broadly and rapidly provide access to ABX464 for patients in need and partnering remains the Company's preferred scenario."

Didier Blondel, CFO of Abivax, added: "The past months have been particularly eventful for Abivax and opened up several new opportunities. Due to the unique properties of ABX464 which has both an antiviral and anti-inflammatory effects, we expanded our clinical pipeline to treat high-risk Covid-19 patients to prevent the development of life-threatening hyperinflammation and the resulting potentially fatal acute respiratory distress syndrome. We are grateful that the French government (Bpifrance and CGI) actively support the miR-AGE trial as well as the future development and required next steps for the potential commercialization of ABX464. The EUR 36 million in funding provided by Bpifrance was complemented by an additional EUR 5 million from Société Générale; taken together with our current cash resources, of EUR 12.1m as of June 30, 2020, we have sufficient funding for operations until early 2021. With the continued trust and financial support of our stakeholders and the French government, we are in a good position to select, in the near term, the most attractive opportunities for Abivax shareholders and patients in need of innovative Abivax products."

FIRST HALF 2020 FINANCIAL HIGHLIGHTS

Items in the Income Statement
 
H1 2020
H1 2019
 
Change

In millions of euros
 
M€
M€
 
M€

Total operating income
 
1.6
0.0
 
1.6

Total operating expenses
 
(16.3)
(17.3)
 
1.0

of which Research and Development costs
 
(13.5)
(15.0)
 
1.5

of which administrative costs and overheads
 
(2.8)
(2.3)
 
(0.5)

Operating result
 
(14.6)
(17.2)
 
2.6

Financial result
 
(1.0)
(0.7)
 
(0.3)

Ordinary result
 
(15.6)
(17.9)
 
2.3

Extraordinary result
 
0.2
0.0
 
0.2

Tax on income
 
0.0
3.8
 
(3.8)

Result for the period
 
(15.4)
(14.2)
 
(1.3)

Financial Items from the Balance Sheet
 
30/06/2020
31/12/2019
 
Change

in millions of euros
 
M€
M€
 
M€

Net financial position
 
(12.4)
(11.0)
 
(1.5)

of which financial fixed assets*
 
0.0
0.0
 
0.0

of which fixed-term deposits (maturing in > 1 year)
 
0.0
0.0
 
0.0

of which fixed-term deposits (maturing in < 1 year)
 
0.0
0.0
 
0.0

of which available cash flow
 
12.1
9.8
 
2.3

(of which financial debts)
 
(24.5)
(20.7)
 
(3.7)

Total Assets
 
49.8
51.7
 
(1.9)

Total Equity
 
9.4
18.6
 
(9.2)

of which equity capital
 
(3.6)
11.8
 
(15.4)

of which conditional advances
 
13.2
6.8
 
6.4

* Excluding items of the liquidity contract (liquidity and own shares) and deposits & guarantees

Operating loss EUR -14.6m (EUR 2.6m compared to EUR -17.2m as of June 30, 2019) due to retained investments in R&D (EUR 1.5m).
Total number of employees at the end of June 2020 steady at 26.
R&D expenses decreased to EUR -13.5m (EUR 1.5m compared to EUR -15.0m as of June 30, 2019), mainly due to the consequences of the Covid-19 pandemic and the lockdown of the research laboratories. R&D funding was focused on the development of ABX464 in inflammatory indications (92% of the total R&D expenses).
G&A expenses were at EUR 2.8m as of June 30, 2020 (17% of total operating costs) compared to EUR 2.3m (13%) as of June 30, 2019.
Revenues of EUR 1.6m are relating to the grant component of the first milestone payment of Covid-19 Bpifrance funding agreement.
2020 Research Tax Credit should be limited, due to 2020 Covid-19 Bpifrance funding milestone payments, reducing the eligible R&D spending basis. Therefore, no revenue accrual has been recorded as of June 30, 2020 end, contrary to June 2019 (EUR 3.8m).
Cash at the end of June 2020 was EUR 12.1m, compared to EUR 9.8m at the end of 2019.
Company is currently funded until early 2021, based on the following assumptions:

the assessment of planned increasing R&D needs
the exercise of the remaining equity line with Kepler Cheuvreux for EUR 11m (EUR 20 Abivax share price assumption)
the 2020 cash in resulting from the second milestone payment of Covid-19 Bpifrance funding of EUR 7.9m before year-end

OPERATING HIGHLIGHTS: PORTFOLIO UPDATE

ABX464 in ulcerative colitis (UC)
After the promising results obtained during the Phase 2a 12-month-open-label extension study, Abivax recently reported excellent two-year efficacy and safety data for ABX464 ulcerative colitis Phase 2a maintenance study. These results once again confirmed the good safety profile and durable efficacy of 50 mg once-daily oral ABX464 in patients with moderate-to-severe UC after the second year of treatment, with 69% of patients in clinical remission and 94% benefiting from a clinical response. Furthermore, readings of the endoscopies were performed centrally by independent reviewers and median fecal calprotectin, the key biological marker of UC disease activity, remained at 31.6 µg/g (normal levels are below 50 µg/g).

For the currently ongoing UC Phase 2b trial, ABX464-103, patient enrollment is ongoing and on track in all 15 European countries, as well as in Canada and the US where patients have been included into the study. 77% (180/232) of patients have been randomized to date and recruitment is anticipated to be completed by the end of 2020. Top-line results of the two-month induction study are expected for Q2 2021. Abivax is currently preparing all required steps to advance ABX464 for the treatment of moderate-to-severe UC into a Phase 3 clinical program.

With its persistent good clinical safety and tolerability profile along with its durable superior efficacy, Abivax is very confident that ABX464 can become a potent chronic therapy option to address the high unmet medical need in UC and potentially additional inflammatory diseases.

ABX464 in Crohn's disease (CD)
Abivax decided to follow the latest recommendations of its leading KOLs and is now planning to go straight into a pivotal Phase 2b/3 trial in CD. Due to the pathophysiological and clinical similarities of CD and UC, Abivax is keen to investigate if the pivotal study in CD will demonstrate strong efficacy and favorable safety as already reported in UC. The clinical study in CD is expected to start patient recruitment beginning of 2021.

ABX464 in Covid-19 – miR-AGE trial
In May, Abivax announced the launch of a randomized, double-blind, placebo-controlled Phase 2b/3 trial of ABX464 in 1,034 Covid-19 elderly or high-risk patients (miR-AGE trial – ABX464-401). In June, the miR-AGE trial was selected by the French Government as one of six research projects to find a therapeutic solution to treat Covid-19 patients. These projects are financed with a total of EUR 78m by the French state, of which Abivax receives 36m EUR in non-dilutive funding for the conduct of the trial as well as for manufacturing scale-up and additional development costs related to other ABX464 studies for the potential filing of Marketing Authorization Applications (MAAs).

The miR-AGE trial is currently ongoing in France, Italy, Spain, Germany, Belgium and the UK as well as in Brazil. Patient recruitment in Mexico is imminent, as are regulatory approvals to initiate the study in Peru and Chile. Abivax will perform an interim analysis after the treatment of 300 patients and, subject to the evolution of the pandemic, plans to complete recruitment in Q4 2020.

The decision to expand Abivax's clinical pipeline with a Covid-19 indication was based on the potentially beneficial triple effect of ABX464 for the treatment of elderly and high-risk patients, including: 1) antiviral effect to inhibit SARS-CoV-2 replication, demonstrated in an in vitro stringent human pulmonary epithelium model; 2) anti-inflammatory effect to prevent hyper-inflammation, shown in a Phase 2a clinical trial in UC patients with once-daily oral administration of ABX464; and 3) tissue repair properties that might limit longer-term pulmonary damage as observed for the healing of inflammatory lesions in UC patients. With its unique molecular mechanism of action, and convenient oral dosing, ABX464 has the potential to prevent and treat cytokine storm and hyper-inflammation, which lead to acute respiratory distress syndrome (ARDS) and death of Covid-19 patients.

Other clinical programs:

ABX464 in rheumatoid arthritis (RA)
The ongoing ABX464-301 Phase 2a study is designed to evaluate the safety, tolerability and preliminary efficacy of two oral dose-levels of ABX464 administered daily, in combination with methotrexate (MTX), in patients with moderate-to-severe active RA who had an inadequate response to MTX and/or to one or more anti-tumor necrosis factor alpha (TNFα) biological therapeutics. The trial is ongoing in 24 study centers across Europe and the completion of enrollment of 60 patients is expected for the end of this year.

ABX196 in hepatocellular carcinoma (HCC)
In the Phase 1/2 clinical trial ongoing at the Scripps MD Anderson Cancer Center in San Diego and the MD Anderson Cancer Center in Houston, HCC patients are treated with ABX196 in combination with the checkpoint inhibitor nivolumab (Opdivo(R), Bristol Myers Squibb). Up to 46 patients will be included into this clinical study that consists of two phases, a dose escalation phase and an expansion phase. Top-line data from the dose escalation phase are expected at the end of this year.

Financial Calendar 2020

Wednesday September 30, 2020
Publication and release of 2020 Half Year Report

About Abivax (www.abivax.com)
Abivax, a clinical stage biotechnology company, is mobilizing the body's natural immune machinery to treat patients with autoimmune diseases, viral infections, and cancer. Abivax is listed on Euronext compartment C (ISIN: FR0012333284 – Mnémo: ABVX). Based in Paris and Montpellier, Abivax has two drug candidates in clinical development, ABX464 to treat severe inflammatory diseases, and ABX196 to treat hepatocellular carcinoma.

More information on the company is available at www.abivax.com. Follow us on Twitter @ABIVAX_.

Contacts:

Abivax

Communications
Regina Jehle
regina.jehle@abivax.com
+33 6 24 50 69 63

Investors

LifeSci Advisors
Chris Maggos
chris@lifesciadvisors.com
+41 79 367 6254

Press Relations & Investors Europe

MC Services AG
Anne Hennecke
anne.hennecke@mc-services.eu
+49 211 529 252 22

Public Relations France

Actifin
Ghislaine Gasparetto
ggasparetto@actifin.fr
+33 6 21 10 49 24

Public Relations France

DGM Conseil
Thomas Roborel de Climens
thomasdeclimens@dgm-conseil.fr
+33 6 14 50 15 84

Public Relations USA

Rooney Partners LLC
Marion Janic
mjanic@rooneyco.com
+1 212 223 4017

DISCLAIMER

This press release contains forward-looking statements, forecasts and estimates (including patient recruitment) with respect to certain of the Company's programs. Although the Company believes that its forward-looking statements, forecasts and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors that have been deemed reasonable, such forward-looking statements, forecasts and estimates are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated in such forward-looking statements, forecasts and estimates. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the French Autorité des Marchés Financiers pursuant to its legal obligations including its registration document (Document de Référence). Furthermore, these forward-looking statements, forecasts and estimates are only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law.
This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell, or the solicitation of an offer to purchase or subscribe securities of the Company in any jurisdiction, in particular in France. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.

Additional features:

File: Abivax: A strong and diversified pipeline

SOURCE: ABIVAX

ReleaseID: 607715

TORONTO, ON / ACCESSWIRE / September 24, 2020 / Route1 Inc. (OTCQB:ROIUF and TSXV:ROI) (the "Company" or "Route1"), an advanced North American provider of data-centric business empowerment solutions, today announced that First Community Bank chose Route1's secure remote work technology MobiKEY for its 27 branches and 80 staff members over a competing virtual private network or VPN solution.

The Situation

When Karl Kemp added two employees to his First Community Bank IT team six years ago, he learned about a secure remote work solution that promised advantages over virtual private networking (VPN). Kemp was intrigued.

"I was not unhappy with VPNs at the time," remembers Kemp, First Community's Senior Vice President and Director of Information Technology, "other than being a bit aggravated at the difficulties of managing them. I was, however, concerned about the overall security of allowing a computer outside of my network, my control and my cleaning processes to have a direct tunnel into my network. There just didn't seem to be a great alternative."

The alternatives that Kemp had considered included Mobile VPN solutions with a certificate, hard VPN solutions or VPN services, which he ruled out immediately. "As a bank, we are cloud-averse," he says. "I just don't like giving someone else the keys to my back door. The same goes for GoToMeeting and GoToMyPC." The other option that Kemp considered was IP-locked remote desktop protocols, which he finds painful to manage. He acknowledges that while firewalls can be bolstered to block most known threats, you can't protect against a Zero Day event with a firewall…or a VPN.

The Solution

The secure remote work solution that the new employees brought to Kemp's attention was MobiKEY. He deployed several of the devices for the IT team, then rolled them out for the executive team. The MobiKEY technology was well received. The staff found it easy to use and effective when remoting into their PCs at the head office or at any of First Community's 27 branches in Arkansas and Missouri. Both teams now carry MobiKEY devices at all times.

Kemp also valued the data loss-prevention aspect of the MobiKEY technology over VPNs. "It's tough to lose something that hasn't left the office," he chuckles. "When all of your files stay at the bank, the greatest risk you face is limited to losing a personal or bank-issued device that-because of MobiKEY-contains no bank information. I like that scenario a whole lot better."

First Community expanded its MobiKEY usage to include department managers, who previously came into bank branches after hours when work demanded it. Doing so incurred added risk, of course, which is now largely avoided by remoting in using MobiKEYs. "We also have people on leave, on maternity," notes Kemp, "and some that work odd hours. MobiKEY solves all of that."

Kemp has recently taken the ‘remote-in' approach to its ultimate conclusion: employees who live elsewhere in the U.S. and almost never come in to the head office now remotely access virtualized machines, which he has found to be an elegant solution.

Coping With COVID

When the Coronavirus pandemic hit, MobiKEY technology use at First Community exploded. Kemp rolled out MobiKEY MC3 devices for all office staff and instituted a simple training protocol. For most staff, the IT team ran quick in-person training. "We had them plug their MobiKEY into a machine and log in. It was a 10-minute process. Everyone found it simple. In other locations, we reached staff by phone and my IT guys walked them through it. There were no real problems."

At the peak of remote work, First Community had 80 staff logged in via MobiKEY at once. Kemp was initially concerned that coronavirus-related MobiKEY usage across the U.S. would overwhelm Route1 infrastructure, but he experienced no problems and no delay in service. While some employees in rural areas would occasionally experience a degree of sluggishness, this was simply a by-product of the quality of their Internet connections.

The main complaint his team fielded from employees centered on the inability to print documents – an optional security feature of the MobiKEY implementation that allows organizations to selectively disable remote printing to prevent data leakage or to ensure compliance with policies.

MobiKEY also offers the additional benefit of allowing employees to remote in to more than one computer. Kemp's MobiKEY, for instance, lets him remote into several machines.

Not only did Kemp find MobiKEY easy to ramp up when the coronavirus hit, but it helped him avoid business interruptions and avoid burning man-hours implementing a VPN solution with adequate capacity. "VPN would have been a nightmare to set up," he says. "We have people with Macs, different versions of Windows, some running on a USB WiFi connection…security drawbacks are one thing, but VPN setup is another entirely. There are so many variables out there that can break a VPN…getting that put together during COVID would have been an ordeal."

MobiKEY will continue to be a mainstay of First Community's IT strategy, as it offers staff a secure, hassle-free way to remotely access their desktops, laptops and virtual machines. Kemp sees MobiKEY as a permanent solution for retaining out-of-state employees without taking on extra risk.

Equally important is the mitigation of risk to the branches' physical security through fewer instances of after-hours visits. Kemp realized that the easy access and confidence the MobiKEY solution provided his staff improved overall security for the bank. Cybersecurity was the main reason to get MobiKEY, but the ability to improve the safety of employees and reduce the liability to the bank was a welcome hidden benefit.

Kemp actively recommends MobiKEY to colleagues for ease of access, reliability of access, support, and data loss prevention. "I don't know of anything better," he observes. When asked why he thinks that MobiKEY is not more prevalent in the industry, Kemp is philosophical. "It's just not a well-known solution," he observes. "There's an old saying in IT, ‘nobody ever got fired for recommending IBM'. That pretty much sums up the situation with MobiKEY: people are scared to take a chance on something unfamiliar and be wrong about it."

About Route1 Inc.

Route1 Inc. is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers, whether it be in a manufacturing plant, in-theater or in a university parking lot. Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: www.route1.com.

For More Information, Contact:

Gresham Hill
Vice President Marketing
+1 480 493-8501

gresham.hill@route1.com

This news release, required by applicable Canadian laws, 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 U.S. Persons 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.

© 2020 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc. See https://www.route1.com/terms-of-use/ for notice of Route1's intellectual property.

This news release may contain statements that are not current or historical factual statements that may constitute forward-looking statements or future oriented financial information. These statements are based on certain factors and assumptions, including, price and liquidity of the common shares, expected financial performance, expected subscribers and subscription-based revenue, business prospects, technological developments, development activities, the ability of the Company to obtain the supersedeas bond in order to appeal the decision to the United States Court of Appeals for the Federal Circuit, and like matters. While Route1 considers these factors and assumptions to be reasonable, based on information currently available, they may prove to be incorrect. These statements involve risks and uncertainties, including but not limited to the risk factors described in reporting documents filed by the Company. Actual results could differ materially from those projected as a result of these and other risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement or future oriented financial information to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by law. Estimates used in this presentation are from Company sources. Past or forecasted performance is not a guarantee of future performance and readers should not rely on historical results or forward-looking statements or future oriented financial information as an assurance of future results.

SOURCE: Route1 Inc. 

ReleaseID: 607704

Court Overturns District Court Judgment of Non-Infringement

NEW YORK, NY / ACCESSWIRE / September 24, 2020 / Network-1 Technologies, Inc. (NYSE American:NTIP), a company specializing in the development, licensing and protection of its intellectual property assets, today announced that the U.S. Court of Appeals for the Federal Circuit overturned the judgment of non-infringement of the U.S. District Court of the Eastern District of Texas in its litigation with Hewlett-Packard involving its Remote Power Patent. The Federal Circuit also vacated the District Court judgment of validity of the Remote Power Patent. The Federal Circuit has remanded the case to the District Court for a new trial on infringement against Hewlett-Packard and further proceedings on validity.

As a result of the Federal Circuit's decision to overturn the District Court judgment of non-infringement, Network‑1 believes that Cisco and certain other licensees of Network-1's Remote Power Patent are obligated to pay Network-1 significant royalties that accrued but were not paid beginning in the fourth quarter of 2017 through March 7, 2020 (the expiration of the Remote Power Patent). The amount of royalties payable to Network‑1 for such period depends upon the amount of sales of licensed products by Cisco and other licensees pursuant to their license agreements with Network‑1.

ABOUT NETWORK-1 TECHNOLOGIES, INC.

Network-1 Technologies, Inc. is engaged in the development, licensing and protection of its intellectual property and proprietary technologies. Network-1 works with inventors and patent owners to assist in the development and monetization of their patented technologies. Network-1 currently owns eighty-four (84) patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems and the identification of media content. Network-1's current strategy includes continuing licensing efforts for its Remote Power Patent and its efforts to monetize three patent portfolios (the Cox, Mirror Worlds and M2M/IoT Patent Portfolios). Network-1's strategy is to focus on acquiring and investing in high quality patents which management believes have the potential to generate significant licensing opportunities as Network-1 has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. Network-1's Remote Power Patent has generated licensing revenue in excess of $147,000,000 from May 2007 through June 30, 2020. Network-1 has achieved licensing and other revenue of $47,150,000 through June 30, 2020 with respect to its Mirror Worlds Patent Portfolio.

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning Network-1's business. Such statements are subject to a number of risk factors and uncertainties as disclosed in Network-1's Annual Report on Form 10‑K for the year ended December 31, 2019 and its Quarterly Reports on 10-Q for the three months ended March 31, 2020 and June 30, 2020 filed with the Securities and Exchange Commission including, among others, Network-1's uncertain revenue stream, the ability of Network‑1 to achieve additional licenses for its Remote Power Patent, the ability of Network-1 to successfully execute its strategy to acquire or make investments in high quality patents with significant licensing opportunities, Network-1's ability to achieve licensing revenue from its Cox Patent Portfolio, M2M/IoT Patent Portfolio and Mirror Worlds Patent Portfolio as well as a return on its investment in IliAD Biotechnologies, LLC or other intellectual property it may acquire or finance in the future, the ability of Network-1 to enter into additional license agreements, uncertainty as to whether cash dividends will continue be paid, the uncertainty of patent litigation and proceedings at the United States Patent and Trademark Office, the difficulty in Network-1 verifying royalty amounts owed to it by its licensees, Network-1's ability to enter into strategic relationships with third parties to license or otherwise monetize their intellectual property, the risk of Network-1 being classified as a Personal Holding Company, the risk that the global COVID‑19 pandemic could have an adverse impact on Network-1's business, future economic conditions and technology changes and legislative, regulatory and competitive developments. Except as otherwise required to be disclosed in periodic reports, Network-1 expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein.

Corey M. Horowitz, Chairman & CEO
Network-1 Technologies, Inc.
(212) 829-5770 (office)
917-692-0000 (mobile)

SOURCE: Network-1 Technologies, Inc.

ReleaseID: 607700

VANCOUVER, BC / ACCESSWIRE / September 24, 2020 / Golden Lake Exploration Inc. (CSE:GLM)(OTC:GOLXF) ("GLM" or the "Company") is pleased to report assay results from the first six of ten drill holes from the Company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada, with a highlighted intercept in hole JR-20-06 at the Eureka Tunnel Zone, averaging 2.80 grams gold per tonne ("g/t Au") and 5.9 grams silver per tonne ("g/t Ag") over an interval of 22.86 meters from surface. The lower portion of this intersection returned 4.38 g/t Au and 9.7 g/t Ag over 10.67 meters from a depth of 12.19 meters.

Assay results from the remaining four holes are expected shortly.

Eureka Tunnel Oxide Zone Drill Results

The Eureka Tunnel (aka South Eureka Tunnel) mine is located in the northwest quartile of the Jewel Ridge property, with the "Oxide Zone" (aka "Viking Zone") located east and north-east of the main portal. The Eureka Tunnel Oxide Zone comprises both Carlin-type and CRD-type ("Carbonate Replacement Deposits") oxide mineralization. This target has not been drilled since the late 1980s due to tenure complications that were resolved with the purchase of 12 patented claims in 2012. A total of seven (7) Reverse-Circulation ("RC") drill holes were completed, comprising 1,048.57 meters, with assays received for three vertical holes.

Drill hole JR-20-06 is the northern-most hole, drilled near the boundary on the patented claims, and is also the shallowest hole (91.44 meters). Recovery problems were encountered from 37 to 61 meters, such that the depth potential has not been adequately tested. Additional drill sites are proposed east and north-east of JR-20-06 on BLM (Bureau of Land Management) claims, and an application to Federal and State agencies is in progress related to a Phase 2 drill program planned this fall by the Company.

Hole JR-20-06 was successful in confirming the historic "above-average oxide grade" of the near-surface Eureka Tunnel Oxide Zone.

Hamburg Mine Zone

The Hamburg Mine Zone is located in the south-central portion of the Jewel Ridge property and represents both Carlin-type and CRD type oxide gold mineralization hosted in the Hamburg Dolomite at or near the contact with Dunderberg Shale. Three (3) angled RC holes were completed in the recent program comprising 548.64 meters.

Significantly, holes JR-20-02 and JR-20-03 both intersected wide intervals of anomalous gold values (defined as +0.10 g/t Au). Hole JR-20-02 intersected 0.436 g/t Au over 57.91 meters from a depth of 123.44 meters, and hole JR-20-03 returned 0.161 g/t Au over 106.7 meters from 73.2 meters. This intercept represents the deepest intersection from 152.4 to 169.2 meters which supports the Company's belief that the Jewel Ridge property is under explored at depth. The data from the recent drilling will be added to the 3D model to refine additional drill targets.

Figure 1. Map of the Jewel Ridge property

Mike England, CEO of Golden Lake, stated: "Hole JR-20-06 is an excellent start to unlocking the untapped potential of the Jewel Ridge project. This hole identifies the potential for the Eureka Zone to host premium-grade oxide gold mineralization. With hole JR-20-06 representing the northern-most drill hole in our maiden drill program, we welcome the results of the final four drill holes and look forward to a Phase 2 program this fall. We have identified more than a dozen exploration targets on the Jewel Ridge property. Our recent drill program consisted of initial drilling on only two areas."

Drilling Quality Assurance and Quality Control Statement

Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. Samples are taken every 1.52 meters (5-foot intervals), with all intervals of drill holes being assayed. Samples have been securely shipped and received by ALS Labs in Elko, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency. Assays for the last four holes are pending and will be reported when available.

Intervals in this release are drilled intervals. True widths could not be determined at this early stage of target evaluation.

About the Jewel Ridge Property

The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain – Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.

The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.

Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.

About Golden Lake Exploration Inc.

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.

Qualified Person

Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by John E. Hiner, Licensed Geologist and Registered Member of SME (society for Mining, Metallurgy, and Exploration), who serves as a qualified person under the definition of National Instrument 43-101.

ON BEHALF OF THE BOARD
"Mike England"
______________________________
Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance 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. Investors 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. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Golden Lake Exploration Inc.

ReleaseID: 607694