VANCOUVER, BC / ACCESSWIRE / December 7, 2020 / BTU METALS CORP. ("BTU" or the "Company") (TSX:V:BTU)(OTC PINK:BTUMF) today announces that recent drilling intersected fine visible gold at a location northeast and ‘up ice' of an area where till sampling results over the past year have identified numerous gold grains at many locations. This first discovery of visible gold in bedrock was just drilled and has yet to be assayed. The discovery is located in the northern part of the Company's extensive Red Lake property holdings known as the Dixie Halo property.

Highlights

The visible gold mineralization in very recent drill hole BTU-20-53 is not near any outcrop or historic drilling and constitutes a new gold discovery in this rapidly developing, Dixie Creek area of the prolific Red Lake Gold Camp.
Finding visible gold in drill core is rare and its discovery clearly validates the exploration work carried out over the past year that was aimed at discovering gold in bedrock in the north-central part of the 100% controlled, 200 square kilometre Dixie Halo property.
The gold mineralization is approximately 100 meters below surface, near the bottom of drill hole BTU-20-53 and spatially close to the location of a topographic low feature and a creek bed that may mark the location of a significant ‘D2' structural trend. The lack of outcrop and historical data nearby supports the potential for the presence of additional mineralization in the area.
Assays have been received for holes BTU 20-43 to 20-49, the early holes of the current drill program. Details of results may be accessed here: www.btumetals.com/DH43-49. The highest gold mineralized intersection is 1.45 metre at 0.503 g/t Au in BTU-20-44 (193-194.45m down hole).

Figure 1: Total # of gold grains from BTU till sampling programs, drill hole locations and showing the surface projection of Visible Gold in drill hole BTU-20-53.

Paul Wood, BTU CEO, said, "As recently as a couple of weeks ago we announced additional positive gold in till results and indicated we were zeroing in on promising target areas on our very large Dixie Halo property. To now discover visible gold in a drill hole clearly validates our exploration methodology and is an exciting development. This discovery of gold in drill core sets the stage for us to continue to work towards discovering other areas of gold mineralization. Drilling, core logging and core sampling as well as geophysics will continue until at least mid-month before a short break into early January after which we will re-start field operations and when we'll immediately continue to follow up on promising results on our now 15km SW-NE structural trend."

Gold in Till Sampling

Tracing of anomalous gold in till sample results back to their source as a methodology to locate new areas of gold mineralization under overburden has been proven to be a valid, unique and powerful way to discover new gold deposits. Learn more about till surveying at https://www.btumetals.com/?tillsurvey.

The most recent till results are consistent with past results in showing high total gold in till counts across the SW-NE geological trend which mirrors the Great Bear ‘LP-fault' sequence.

The till results are notable for having a high proportion of gold grain morphology classified as ‘pristine' or ‘modified' relative to the ‘reshaped' grains, indicating that the malleable gold grains have not travelled far from their bedrock source, most likely within a few hundred metres.

Figure 2: Picture of drill core from near the end of drill hole BTU-20-53 showing fine ‘Visible Gold' adjacent to pyrite.

Exploration Program Update and Recent Assay Results

The Company has now received assay results for the sampled intervals from drill holes BTU-20-43 up to drill hole BTU-20-49. The most significant gold mineralized interval came from BTU-20-44 (1.45 metre of 0.503 g/t Au). Holes 43, 46 and 48 had 1 metre intersections between 0.1 and 0.2 g/t Au. No other significant gold mineralization was encountered in these holes. More detailed information on results from drill holes BTU-20-43 to BTU-20-49 can be found on our website at www.btumetals.com/DH43-49.

The gold discovered in drill hole BTU-20-53 is fine grained (Figure 2) and is located very close to the bottom of the drill hole, only 100 meters below surface. The broader area of this drill hole has had very little exploration to date, so there are no other geological datapoints such as outcrops or drill hole information for at least 1.2 kilometres in either direction along the interpreted strike extent of the target structure. This new discovery is an extensive, under-explored area that is considered to be highly prospective and is located along BTU's 15km SW-NE structural trend.

Strong gold-in-till gold grain counts obtained over the past year identified an overall SW-NE geological and structural trend, and increased sample density has helped vector towards several bedrock targets that the Company will be continuing to evaluate.

Drill core samples for holes from BTU-20-50 to BTU-20-54 will be soon shipped to the assay lab for analysis. Next results, including assays for the interval containing the visible gold will be reported as they become available. Drilling is ongoing and we remain on track to complete at least 2,000 metres before year end. Grid construction, geophysical surveys and processing of till samples is also ongoing.

QA/QC

BTU staff collected and processed samples and securely sealed and shipped them to SGS Canada Inc. ("SGS") in Red Lake, Ontario for sample preparation that includes drying, crushing until 80% passes a 2 mm sieve, then riffle splitting (250 g) and pulverizing (mild steel) to 95% passing 105 µm. The resulting pulps are analysed for gold by fire assay in Red Lake, and for geochemistry by a multi-element aqua regia ICP-OES technique in Burnaby, British Columbia. All assay data have undergone internal validation of QAQC; noting there is an established sampling control program with blind insertion of assay blanks, certified industry standards and sample duplicates. A QAQC program is also in place at SGS and includes insertion of blanks, standards, and duplicate reanalysis of selected samples. SGS is a Canadian assay laboratory and is accredited under ISO/IEC 17025 and ISO 9001. Overlimit protocols are in place for gold, silver, and copper. Intervals in this release are drilled intervals. True widths could not be determined at this early stage of target evaluation.

COVID-19

The Company's exploration work at its Red Lake, Ontario projects remains largely on schedule with no major disruption due to the COVID-19 government guidelines. The Company continues to monitor this situation, continues to be careful to conduct all work in compliance with COVID-19 guidelines and will adjust its activities and timelines as deemed appropriate.

Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information in this press release.

ON BEHALF OF THE BOARD
"Paul Wood"
Paul Wood, CEO, Director
pwood@btumetals.com

FOR FURTHER INFORMATION, PLEASE CONTACT:

Andreas Curkovic, Investor Relations
+1 416-577-9927
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

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 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 using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they 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: BTU Metals Corp.

ReleaseID: 619734

VANCOUVER, BC / ACCESSWIRE December 7, 2020 / Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) ("Makara" or the "Company") is pleased to provide the following update on its recently carried out RC drill program at its Rude Creek property in Yukon, Canada.

The Company has been anxiously anticipating the assay results since early November for its 2,000 meter RC drill program. Unfortunately, due to COVID-19 related staffing delays at the Vancouver laboratory and Whitehorse sample preparation site, the Company now expects analysis to be postponed until the end of the year.

The Company expects the large number of samples to be well-received by the public as they plan their 2021 drilling schedule for the three properties (Rude Creek-Yukon, Davis Mine & Paradise Valley Project-Nevada, and the Kenora Project-Ontario).

Additional Marketing Support

The Company has also hired Market Digital, a Vancouver based full-service digital marketing agency, to assist the Company with promotion and distribution of material across various media platforms. The Company expects Market Digital to add value by means of advertisement and investor awareness. The Company has paid them a sum of CAD $50,000 for the Winter period.

About the Company

Makara Mining Corp. (CSE: MAKA; FSE: MK0; OTC: MAKAF) is a mineral exploration company focused on the acquisition, exploration and development of gold properties. The Company is based in Vancouver, B.C. and holds options over the Rude Creek Property and Idaho Creek Property located in the Yukon, the Kenora Gold Property located in Northwestern Ontario and the Davis and Paradise Valley claims located in Nevada. Additional information about the Company is available at www.makaramining.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Grant Hendrickson
Director and Chief Executive Officer
Telephone: 604-372-3707
Email: grant@makaramining.com

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, and statements respecting the Company's assaying program from its recently completed RC drilling program, and the timing of the results from such drilling program are "forward-looking statements". Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE: Makara Mining Corp.

ReleaseID: 619600

Admission and issue of new common shares and issue of warrants

Admission and issue of new common shares

LONDON, UK / ACCESSWIRE / December 7, 2020 / Orosur Mining Inc (TSX:OMI)(AIM:OMI) Further to the announcement by the Company of 30th November, Orosur is pleased to announce that 23,529,412 New Common Shares have been admitted to trading on AIM today.

Following the issue of the 23,529,412 New Common Shares, which on Admission will rank pari passu with the existing common shares, the total number of common shares in issue with voting rights in the Company will be 187,058,753.

The figure of 187,058,753 common shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Issue of warrants

The Company will also be issuing later today, as set out in the announcement of 30th November, 11,764,706 warrants, exercisable at a price of 25.5 pence until 7 December 2022. The warrants, which are unlisted, will be issued pursuant to a warrant indenture entered into by the Company under a deed poll constituted under English law. Warrantholders will receive certificates representing the warrants issued to them in due course.

For further information, please contact:

Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
info@orosur.ca
Tel: +1 (778) 373-0100

SP Angel Corporate Finance LLP – Nomad & Joint Broker
Jeff Keating / Caroline Rowe
Tel: +44 (0) 20 3 470 0470

Turner Pope Investments (TPI) Ltd – Joint Broker
Andy Thacker
Tel: +44 (0)20 3657 0050

Flagstaff Communications and Investor Communications
Tim Thompson
Mark Edwards
Fergus Mellon
orosur@flagstaffcomms.com
Tel: +44 (0)207 129 1474

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

About Orosur Mining Inc.

Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The Company operates in Colombia and Uruguay.

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: Orosur Mining Inc

ReleaseID: 619746

CALGARY, AB / ACCESSWIRE / December 7, 2020 / Valeura Energy Inc. (TSX:VLE)(LSE:VLU) (the "Company"), an upstream oil and gas company with assets in the Thrace Basin of Turkey, announces that its Non-Executive Director, James McFarland has advised the Company that a person closely associated with him has purchased a total of 50,000 common shares of no par value in the capital of the Company at an average price of C$0.497 per share (approximately £0.289 per share) on the Toronto Stock Exchange on December 4th, 2020.

For further information please contact:

Valeura Energy Inc. (General and Investor Enquiries) +1 403 237 7102
Sean Guest, President and CEO
Heather Campbell, CFO
Robin Martin, Investor Relations Manager
Contact@valeuraenergy.com, IR@valeuraenergy.com

Auctus Advisors LLP (Corporate Broker) +44 (0) 7711 627 449
Jonathan Wright
Valeura@auctusadvisors.co.uk

CAMARCO (Public Relations, Media Adviser) +44 (0) 20 3757 4980
Owen Roberts, Billy Clegg, Monique Perks, Hugo Liddy
Valeura@camarco.co.uk

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

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: Valeura Energy Inc.

ReleaseID: 619726

RICHMOND HILL, ON / ACCESSWIRE / December 4, 2020 / Helix BioPharma Corp. (TSX:HBP) ("Helix" or the "Company"), a clinical-stage biopharmaceutical company developing unique therapies in the field of immuno-oncology based on its proprietary technological platform DOS47, today announced it has closed a private placement financing for gross proceeds of $1,100,000.

The terms of the placement are for the purchase of units at $0.50 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at an exercise price of $0.70 and have an expiry of five years from the date of issuance. Helix intends to use the net proceeds of the private placement for working capital and research and development activities.

ACM Alpha Consulting Management AG provided financial advisory services to Helix in connection with the private placement.

About Helix BioPharma Corp.

Helix BioPharma Corp. is an immuno-oncology company specializing in the field of cancer therapy. Helix is a biopharmaceutical company developing unique therapies in the field of immuno-oncology, for the prevention and treatment of cancer, based on its proprietary technology platform DOS47. Helix is currently listed on the TSX under the symbol "HBP". For more information: https://www.helixbiopharma.com

Investor Relations

Helix BioPharma Corp.
9120 Leslie Street, Suite 205
Richmond Hill, Ontario, L4B 3J9
Tel.: +1 (905) 841-2300
ir@helixbiopharma.com

Alpha Bronze, LLC
Mr. Pascal Nigen
Tel.: + 1 (917) 385-2160
helix@alphabronze.net

Cautionary Statements

This news release may contain forward-looking statements with respect to Helix, its operations, strategy, financial performance and condition, including its activities relating to its drug development program, any anticipated timelines for the commencement or completion of certain activities such as raising sufficient capital, merger and acquisition activity, listing on a U.S. exchange and other information in future periods. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including: (i) Helix's ability to operate as a going concern being dependent mainly on securing sufficient additional financing in order to fund its ongoing research and development and other operating activities; (ii) the generally inherent uncertainty involved in scientific research and drug development and those specific to Helix's pre-clinical and clinical development programs (DOS47, L-DOS47, V-DOS47 and CAR-T); (iii) that any transactions contemplated herein are completed; and (iv) those risks and uncertainties affecting Helix as more fully described in Helix's most recent Annual Information Form, which is available at www.sedar.com (together, the "Helix Risk Factors"). Certain material factors and assumptions are applied in making the forward-looking statements, including, without limitation, that sufficient financing will be obtained in a timely manner to allow Helix to continue operations and implement its clinical trials in the manner and on the timelines anticipated and that the Helix Risk Factors will not cause Helix's actual results or events to differ materially from the forward-looking statements. These cautionary statements qualify all such forward-looking statements.

Forward-looking statements and information are based on the beliefs, assumptions, opinions, plans and expectations of Helix's management on the date of this news release, and the Company does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions, opinions, plans or expectations, or other circumstances change, except as required by law.

The securities offered 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, any U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless pursuant to an exemption from those registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any such securities of Helix BioPharma Corp. in the United States or any other jurisdiction.

SOURCE: Helix BioPharma Corp.

ReleaseID: 619624

CALGARY, AB / ACCESSWIRE / December 4, 2020 / Valeura Energy Inc. (TSX:VLE)(LSE:LU) ("Valeura" or the "Company"), an upstream oil and gas company with assets in the Thrace Basin of Turkey, is pleased to announce the appointment of Auctus Advisors LLP as its sole corporate broker, with immediate effect.

For further information please contact:

Valeura Energy Inc. (General and Investor Enquiries) +1 403 237 7102
Sean Guest, President and CEO
Heather Campbell, CFO
Robin Martin, Investor Relations Manager
Contact@valeuraenergy.com, IR@valeuraenergy.com

Auctus Advisors LLP (Corporate Broker) +44 (0)7711 627 449
Jonathan Wright
valeura@auctusadvisors.co.uk

CAMARCO (Public Relations, Media Adviser) +44 (0) 20 3757 4980
Owen Roberts, Billy Clegg, Monique Perks, Hugo Liddy
Valeura@camarco.co.uk

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

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: Valeura Energy Inc.

ReleaseID: 619457

SINGAPORE, SINGAPORE / ACCESSWIRE / December 4, 2020 / Singapore: Jadestone Energy Inc. (AIM:JSE) ("Jadestone", the "Company", or the "Group"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide a trading and operations update.

Highlights

Group production from January 1 through November 30, 2020 averaged 11,356 bbls/d;
The Group remains on track to deliver full year production guidance of 11,000-12,500 bbls/d,
Gross cash and bank balances of US$100.2 million as of November 30, 2020, versus US$99.4 million at December 31, 2019 as a result of continued profitable production throughout the year;
Net cash of US$82.6 million, versus US$39.3 million at December 31, 2019;
Maari acquisition progressing, but no longer expected to close before year end as a result of delays caused by COVID-19 and New Zealand's recent general election. The Company anticipates the acquisition to close in H1 2021 with the effective date remaining January 1, 2019;
Lemang, Indonesia acquisition on track to close in Q1 2021 or earlier;
Valaris 107 drilling rig contracted for 2021 infill drilling and well workovers in Australia; and
Discussions with relevant authorities relating to the Vietnam Nam Du/U Minh gas fields development project are ongoing, with preparations to issue the FPSO contract tender being made.

Paul Blakeley, President and CEO commented:

"Our primary focus during this extraordinary year has been to strengthen our balance sheet and protect the Company from spending inefficiently into the low oil price environment we've seen during the course of the last two quarters. We have started to reinstate investment which will restore production at both Stag and Montara over the course of the next 12 months. This is aimed at taking advantage of what we anticipate will be stronger pricing going forwards, even as Brent edges up above $49/bbl today, the highest level since March. We have already completed the first three workovers at Stag, which were deferred during the second/third quarter and are looking to complete three more between now and the end of the year. At Montara, having encountered problems at the two Skua subsea wells, we are planning well workovers which will either be done via a subsea remote operated vehicle, or with the Valaris 107 drilling rig, which has been secured on contract commencing late Q2 2021 and which, with the right economic environment, will also drill the Montara H6 infill well.

Despite this, we still expect to deliver full year average production, in line with our revised guidance for the year. Similarly, with good progress on our Company-wide cost savings initiatives, we also anticipate meeting the operating cost target within our guidance range. Notably, we did not revise our unit cost guidance upward this year, despite lower production, reflecting the significant achievements made to reduce operating costs through Project Clover, and we continue to work to lock in much of these savings as permanent structural changes in our cost base. The remaining elements of our guidance were also delivered, having completed our maiden interim dividend distribution, and also reducing our capital spending to within a range of US$30 to US$35 million.

We continue to make progress on our inorganic growth endeavours, notwithstanding the additional challenges of the ongoing impact of the COVID-19 pandemic, as well as the recent New Zealand general election in the case of the Maari acquisition. As a result, we do not anticipate closing Maari in 2020, and have pushed it back to H1 2021. The seller remains fully supportive of the transaction and we have extended the long stop date to April 30, 2021, to provide additional time to close. Meanwhile, the Indonesia Lemang acquisition is progressing as planned, with Indonesian government approvals granted, as expected.

Progress continues with the Vietnam development, and Petrovietnam has now proposed gas sales profiles which meet customer needs. These are being assessed to confirm our intended production profiles for the Nam Du and U Minh fields. This is a key step to finalising a gas sales contract, and attaining government sanction for the field development.

In the meantime, our financial position is robust as our business remained cash generative throughout the 2020 depressed oil price environment, and has contributed to a growing net cash position as we articulated back in March. We expect to be entirely debt-free by the end of Q1 2021.

Finally, we are also investigating a number of new M&A opportunities which are either on the market, or anticipated to be brought to the market within the next 12 months. These include a spectrum covering both high value but smaller tuck-in acquisitions and larger, more material opportunities, and which could be transformational for the Company. As ever, pursuing inorganic growth is subject to our strict acquisition criteria."

Financial update

As of November 30, 2020, Jadestone's net cash position was US$82.6 million, versus US$39.3 million at December 31, 2019, comprising cash and bank balances of US$100.2 million, and gross debt outstanding of US$17.6 million. Jadestone's remaining gross debt comprises the final phase of repayments of the Company's reserves-based loan ("RBL"), drawn to part fund the Montara acquisition in August 2018. The Company expects to complete the repayment of the RBL by the end of Q1 2021.

Ongoing cash generation remains strong, with the Company anticipating a lifting of around 190,000 bbls of Stag crude oil scheduled in December at a premium to Dated Brent of US$9.20/bbl.

Through the Group's cost savings programme, Project Clover, Jadestone expects to achieve US$33.0 million of cashflow savings in 2020 relative to plan. The Company estimates that around 25% of these cashflow savings reflect structural changes in Jadestone's cost base. In addition, a further US$6 million of additional cost saving opportunities under Project Clover continue to be reviewed, but not yet implemented.

Operations update

Production operations at the Montara and Stag assets have continued safely throughout the year, with no significant deviations from the Company's environmental or safety targets. Jadestone is continuing to adhere to local requirements for COVID-19 precautions, including social distancing and mandatory pre-shift isolation periods.

Montara production operations have been adjusted to account for two producer wells, Skua 10 and Skua 11, being offline while workovers are planned. In both instances, these concerns were identified by Jadestone as part of a routine inspection campaign. Neither well poses an environmental or safety risk in their current shut-in status.

Jadestone intends to repair the wells either using a subsea remote operated vehicle or with the Valaris 107 jack-up drilling rig, expected to come on contract in Q2 2021. In the meantime, production volumes deferred from the Skua satellite field are being substantially offset by increased rates from the Montara and Swift/Swallow fields.

Jadestone is in the process of negotiating an enterprise bargaining agreement with three labour unions representing much of the Montara offshore workforce. While the Company cannot predict the timeline for completing the EBA, nor can it control the collective actions of union members, the Company continues to negotiate in good faith. Jadestone believes that it will be able to arrive at an agreement whereby workers are compensated equitably in line with their industry peers and appropriate to the economic circumstances.

Stag operations are progressing under the Company's new crude oil offtake arrangements, whereby oil is loaded directly to shuttle tankers, rather than via a floating storage and offloading vessel. Following an initial trial period, the Company has a strong preference for operating the Stag asset in this way, on an ongoing basis. The Company is realising cost savings, in line with its previous estimate of a 20% annual reduction.

As COVID-19 related restrictions are eased, the Company intends to accelerate its programme of well workovers at Stag, primarily to replace electric submersible pumps as they reach the end of their useful life. At present, three production wells are in need of workover, and these will be the subject of a workover campaign that has now begun and will be completed by year end.

Development

Jadestone continues positive engagement with Petrovietnam in respect of its Nam Du and U Minh gas fields development, offshore southern Vietnam. Discussions are progressing with regard to key components including the gas production profile. In the meantime, critical path commercial work streams are progressing, including preparations to issue the tender for a floating production storage and offloading vessel, in support of the envisaged development.

Acquisitions

Jadestone remains committed to its acquisition of a 69% operated working interest in the Maari asset (the "Maari Interest"), offshore New Zealand. The transaction has achieved several key milestones with regard to regulatory approvals, and the Company continues to focus on securing the consent of New Zealand's upstream industry regulator. Due to delays cascaded by the combined effects of COVID-19 related restrictions and New Zealand's recent general election, this approval process has been slower than envisaged, and the Company now believes the deal will close in H1 2021.

Both Jadestone and the seller remain highly supportive of this transaction, and have agreed to an extension of the long stop date for the transaction, to April 30, 2021. Despite the longer period to closing the deal, the effective date remains January 1, 2019, meaning Jadestone will ultimately receive all economic benefits of the Maari Interest from that date.

The Company continues to anticipate closing its acquisition of a 90% operated working interest in the Lemang asset, onshore Indonesia, in Q1 2021, if not earlier. The Company has received the necessary government approvals and has seconded Jadestone personnel into the seller's organisation to oversee ongoing operations.

____________________________

For further information, please contact:

Jadestone Energy Inc.

+65 6324 0359 (Singapore)

Paul Blakeley, President and CEO

+44 7392 940 495 (UK)

Dan Young, CFO

+1 403 975 6752 (Canada)

Robin Martin, Investor Relations Manager

ir@jadestone-energy.com

Stifel Nicolaus Europe Limited (Nomad, Joint Broker)

+44 (0) 20 7710 7600 (UK)

Callum Stewart

Simon Mensley

Ashton Clanfield

BMO Capital Markets Limited (Joint Broker)

+44 (0) 20 7236 1010 (UK)

Thomas Rider

Jeremy Low

Thomas Hughes

Camarco (Public Relations Advisor)

+44 (0) 203 757 4980 (UK)

Georgia Edmonds

jse@camarco.co.uk

Billy Clegg

James Crothers

About Jadestone Energy

Jadestone Energy Inc. is an independent oil and gas company focused on the Asia Pacific region. It has a balanced, low risk, full cycle portfolio of development, production and exploration assets in Australia and Vietnam.

The Company has a 100% operated working interest in the Stag oilfield and the Montara project, both offshore Australia. Both the Stag and Montara assets include oil producing fields, with further development and exploration potential. The Company also has a 100% operated working interest in two gas development blocks in Southwest Vietnam.

In addition, the Company has executed a sale and purchase agreement to acquire an operated 69% interest in the Maari Project, shallow water offshore New Zealand, and anticipates completing the transaction in H1 2021, upon receipt of customary approvals. The Company has also executed an agreement to acquire an operated 90% interest in the Lemang PSC, onshore Sumatra, Indonesia, and anticipates completing the transaction in Q1 2021 or earlier, upon receipt of customary approvals. The block includes the Akatara gas field.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman's business in Asia, the Company is pursuing an acquisition strategy focused on growth and creating value through identifying, acquiring, developing and operating assets in the Asia Pacific region.

Jadestone Energy Inc. is listed on the AIM market of the London Stock Exchange. The Company is headquartered in Singapore. For further information on Jadestone please visit www.jadestone-energy.com.

Cautionary statements

Certain statements in this press release are forward-looking statements and information (collectively "forward- looking statements"), within the meaning of the applicable securities legislation. The forward-looking statements contained in this press release are forward-looking and not historical facts.

Some of the forward-looking statements may be identified by statements that express, or involve discussions as to expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "estimated", "intend", "plan", "guidance", "objective", "projection", "aim", "goals", "target", "schedules", and "outlook"). In particular, forward-looking statements in this press release include, but are not limited to, statements regarding the quantum and timing of expected savings under Project Clover, the Company's ability to deliver financial and operating performance within its guidance ranges for 2020, timing for completion of the Maari and Lemang acquisitions, characteristics of the Company's future financial situation including timing to become debt-free, timing of future Stag well workovers, and the timing to conclude a gas sales and purchase agreement for the Nam Du/U Minh gas development.

Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to Jadestone. Whilst the Group believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Group's control or within the Group's control where, for example, the Group decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward- looking statements. The forward-looking information contained in this news release speaks only as of the date hereof. The Company does not assume any obligation to publicly update the information, except as may be required pursuant to applicable laws.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Glossary

bbls barrels of oil

bbls/d barrels of oil per day

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: Jadestone Energy Inc.

ReleaseID: 619491

HALIFAX, NS / ACCESSWIRE / December 3, 2020 / Namibia Critical Metals Inc. ("Namibia Critical Metals" or the "Company" or "NMI") (TSXV:NMI) is pleased to provide an update on the metallurgical test work program on the Lofdal Heavy Rare Earth Project in northern Namibia "Lofdal" or "the project"). Lofdal is a joint venture between the Company and Japan Oil, Gas and Metals National Corporation ("JOGMEC") which is operating under a Term 1 budget of CD$4,100,000 (Company press release September 21, 2020). The Company recently reported an increase of 60% to the strike length of the Area 4 deposit and the inclusion of the first satellite heavy rare earth deposit (Company press release November 26, 2020). Highlights of the metallurgical test work program are reported here as follows:

XRT and XRF ore sorting technologies successfully identified mineralized particles over a wide range of size fractions

Test work completed on 8.6 tonnes of sample has achieved 1.5-3X upgrades with high recoveries for dysprosium and other heavy rare earths

Increased grades and reduction in tonnage for milling will lower operating costs

Gravity and magnetic separation test work nearing completion at Light Deep Earth (South Africa)

SGS (Canada) appointed to continue downstream flotation and magnetic separation test work

Strong price increases in key value drivers for Lofdal – 12 month prices up 24% for dysprosium and up 93% for terbium

Don Burton, President of Namibia Critical Metals stated, "The first step in beneficiation of heavy rare earth mineralization at Lofdal is through ore sorting. These test results have clearly demonstrated the opportunity to increase grade from the Area 4 deposit by a factor of 1.5 to 3 times which will have significant positive impacts on further downstream processing costs. We continue to evaluate early stage beneficiation opportunities through gravity techniques and magnetic separation, and we are pleased to bring SGS on board as we move into flotation. SGS has a wealth of processing experience with rare earths including some of the largest rare earth projects in the world – Mountain Pass (USA), Strange Lake (Canada) and Zandkopsdrift (South Africa).

With xenotime as its dominant rare earth mineral, Lofdal offers the potential to be a significant source of dysprosium and terbium. While the market has taken note of the recent increases in neodymium and praseodymium prices with regards to light rare earth projects, similar increases to dysprosium and terbium prices have not yet been factored into the heavy rare earth contenders."

The Lofdal Heavy Rare Earths Project is located 450 kilometers northwest of the capital city of Windhoek in the Kunene Region of north-western Namibia. The project area covers 314 square kilometers centered on the Lofdal carbonatite complex which hosts a number of rare earth occurrences, including the Area 4 deposit. Mineralization at Area 4 is dominated by xenotime, which is highly enriched in heavy rare earths.

Lofdal is unique as one of only two primary xenotime deposits under development in the world. As demonstrated in the Preliminary Economic Assessment1 Lofdal has the potential for significant production of dysprosium and terbium, the two most valuable heavy rare earths used in high powered magnets. The joint venture with JOGMEC is driven by Lofdal's potential to be a long term, sustainable supply of heavy rare earths for Japan.

Rare Earth Market Comments

The two major operating rare earth mines outside of China are Mountain Pass (USA) and Mount Weld (Australia) both of which are light rare earth-enriched projects and therefore major suppliers of the light rare earths praseodymium and neodymium. Prices for all the main magnet-related rare earths – praseodymium, neodymium, terbium and dysprosium have seen significant gains over the past 12 months with particularly sharp increases in the past 6-8 weeks (Table 1). Terbium (up 93.2%) and dysprosium (up 24.5%) are the main value drivers in heavy rare earth projects such as Lofdal.

Metallurgical Test Work Program Summary and Highlights

A number of sequential processing stages have been recommended for treatment of the xenotime mineralization at Lofdal and include upfront ore sorting, magnetic separation, flotation and gangue acid leaching to produce a mineral concentrate. Each of these stages is being evaluated during Term 1 using a representative 18 tonne sample that was collected from trenches along 650 meters of strike length from the Area 4 deposit.

Ore Sorting Tests

Ore sorting technologies provide opportunities to reject considerable volumes of waste thereby upgrading run-of-mine feed before requiring more expensive crushing and milling for downstream processing. Test work has been completed on 8.6 tonnes confirming the amenability of Lofdal mineralization to be significantly upgraded using either x-ray fluorescence ("XRF") or x-ray transmission ("XRT") sorting technology. Mineralization at Lofdal is amenable to XRF sorting by analyzing for the element yttrium, which is directly related to the concentration of the heavy rare earth mineral xenotime. It is amenable to XRT sorting because of the dominance of higher density gangue minerals (carbonates) to host the xenotime mineralization.

XRF sorting tests were carried out by Rados International in Pretoria on size fractions between 20-150 mm, and XRT sorting tests were carried out by IMS/Steinert on size fractions between 10-75 mm in Johannesburg. A total of 8.6 tonnes was prepared from the representative sample for the sorting tests by Light Deep Earth ("LDE") in Pretoria and final ICP-MS analyses appropriate for rare earth element analyses (method code ME-MS81h with lithium meta-borate fusion) were carried out by ALS Minerals (sample preparation in Johannesburg and analyses in Vancouver). QAQC was monitored through internal laboratory standards, blanks and duplicates with the provision of refereed rare earth standards from Lofdal.

Very clear grade, recovery and mass pull curves were established for both technologies and can be used to evaluate the most favourable economic scenarios available to the project. Outcomes for upgrading of dysprosium from all size fractions for both XRF and XRT tests, and grade recovery curves for one size fraction are shown in Figure 1.

In addition to quantifying outcomes for upgrading of heavy rare earths the test work will also be evaluated for efficiencies in rejecting unwanted iron, calcium and silica. Scavenging tests on XRF discard products have demonstrated opportunities for further increased recoveries with minimal additional mass pulls. Sorted products from these bulk runs have been utilized to provide representative samples for next stage process steps – gravity, magnetic separation and flotation.

Gravity, Magnetic Separation and Flotation

Systematic evaluations of gravity separation technologies had not been previously undertaken on Lofdal and this work is now being undertaken by Light Deep Earth using sorted XRF sample and fines. Test work has been completed to evaluate dense media separation on coarse size fractions between 1-10 mm, shaking table separation on size fractions between 0.05-1.0 mm and multi gravity separation on size fractions between <0.05-0.1 mm. Reports are pending.

Previous metallurgical test work at Lofdal had demonstrated the amenability of the mineralization to magnetic separation using wet high intensity magnetic separation ("WHIMS") equipment and it is expected that magnetic separation will be maintained as an important processing step in beneficiation. The focus of magnetic separation test work at LDE is to evaluate wet belt rare earth magnet separation technology ("WRER") to compare with WHIMS. Test work on this has been completed and reports are pending.

Flotation has also been demonstrated to be an important step in beneficiation and this work will be undertaken by SGS (Canada) in conjunction with additional WHIMS test work. SGS has extensive experience in mineral processing of a number of rare earth deposits including Mountain Pass, Nechalacho, Strange Lake, Bokan Mountain, Bear Lodge, Kipawa, Zandkopsdrift, and Wicheeda Lake. Samples of both XRF and XRT sorted products and fines have been prepared for shipment to the SGS facility in Lakefield, Ontario. The test program will compare upgrades and recoveries of XRF and XRT products through direct flotation followed by magnetic separation, and through direct magnetic separation followed by flotation as shown below:

JOGMEC Joint Venture Agreement

As previously announced (Company press release January 27, 2020), the joint venture agreement with JOGMEC provides for the two companies to jointly explore, develop, exploit, refine and/or distribute mineral products from Lofdal. JOGMEC has the right to earn an interest in stages following an initial non-refundable exploration commitment of CD$3,000,000 (Term 1). Subsequent financial commitments may be exercised at the sole discretion of JOGMEC upon completion of each phase with Term 2 requiring a CD$7,000,000 contribution to earn 40% interest in Lofdal, Term 3 requiring a CD$10,000,000 contribution for an additional 10% interest in Lofdal after which JOGMEC may elect to acquire an additional 1% interest for CD$5,000,000. The agreement contemplates completion of a feasibility study for Lofdal at the end of Term 3 and makes provision for JOGMEC to elect to exclusively fund development of Lofdal provided that the Company's interest will not be diluted below 26%. The additional expenditure of CD$1,100,000 during Term 1 can be credited towards the Term 2 expenditure commitment of CD$7,000,000. Please refer to the Company press release of January 27, 2020 for further details.

About Namibia Critical Metals Inc.

Namibia Critical Metals Inc. holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The two advanced stage projects in the portfolio are Lofdal and Epembe. The Company also has significant land positions in areas favourable for gold mineralization.

Rare Earths: The Lofdal Heavy Rare Earth Project is the Company's most advanced project having completed a Preliminary Economic Assessment in 2014 and full Environmental Impact Assessment in 2017. An application has been made for a mining licence at Lofdal. The project is now in joint venture with Japan Oil, Gas and Metals National Corporation ("JOGMEC") who are funding the current $4,100,000 drilling and metallurgical program with the objective of doubling the resource size and optimization of the process flow sheet. The Otjitanga Light Rare Earth Project is situated within the company's Kunene exploration area and hosts a new discovery of neodymium-rich carbonatite veins which is in the early stages of exploration.

Gold: At the Erongo Gold Project, stratigraphic equivalents to the sediments hosting the recent Osino gold discovery at Twin Hills have been identified but not yet sampled. Soil surveys are progressing over this highly prospective area. The Grootfontein Base Metal and Gold Project which has potential for magmatic copper-nickel mineralization, Mississippi Valley-type zinc-lead-vanadium mineralization and Otjikoto-style gold mineralization. Detailed interpretation of geophysical data and regional geochemical soil sampling surveys are under way.

Tantalum-Niobium: In addition to Lofdal, the Epembe Tantalum-Niobium Project is also at an advanced stage with a well-defined, 10 km long carbonatite dyke that has been delineated by detailed mapping with over 11,000 meters of drilling. Preliminary mineralogical and metallurgical studies including sorting tests (XRT), indicate the potential for significant physical upgrading. Further work will be undertaken to advance the project to a preliminary economic assessment stage.

Copper-Cobalt: The Kunene Copper-Cobalt Project comprises a very large area of favorable stratigraphy ("the DOF") along strike to the west of the Opuwo cobalt-copper-zinc deposit. Secondary copper mineralization over a wide area points to preliminary evidence of a regional-scale hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct extensions of the DOF style mineralization to the west, sediment-hosted cobalt and copper, orogenic copper, and stratabound manganese and zinc-lead mineralization.

The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol "NMI".

Donald M. Burton, P.Geo. and President of Namibia Critical Metals Inc., is the Company's Qualified Person and has reviewed and approved this press release.

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.

For more information please contact –

Namibia Critical Metals Inc.
Don Burton, President
Tel: +01 (902) 835-8760
Fax: +01 (902) 835-8761
Email: Info@NamibiaCMI.com
Web site: www.NamibiaCriticalMetals.com

The foregoing information may contain forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

1Preliminary Economic Assessment on the Lofdal Rare Earths Project Namibia dated October 1, 2014 authored by David S. Dodd, B. Sc (Hon) FSAIMM – The MDM Group, South Africa, Patrick J.F. Hannon, M.A.Sc., P.Eng. and William Douglas Roy, M.A.Sc., P.Eng. – MineTech International Limited, Canada, Peter Roy Siegfried, MAusIMM (CP Geology) and Michael R. Hall, B.Sc (Hons), MBA, MAusIMM, Pr.Sci.Nat, MGSSA – The MSA Group, South Africa. The PEA should not be considered to be a pre-feasibility or feasibility study, as the economics and technical viability of the Project has not been demonstrated at this time. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Furthermore, there is no certainty that the PEA will be realized.

SOURCE: Namibia Critical Metals Inc.

ReleaseID: 619366

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / December 3, 2020 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that it has closed the first tranche of the non-brokered private placement previously announced on November 16, 2020 and November 24, 2020 (the "Offering"). In this first tranche, the Company raised aggregate gross proceeds of $1,240,900 (the "First Tranche") by issuing 7,950,000 hard dollar units (the "HD Units") at a price of $0.13 per HD Unit and 1,220,000 common shares of the Company issued on a flow-through basis (the "FT Shares") at a price of $0.17 per FT Share.

Each HD Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.18 for a period of two years from December 3, 2020 (the "Initial Closing Date"). The FT Shares will qualify as "flow-through shares" (within the meaning of the Income Tax Act (Canada)).

The gross proceeds from the sale of the FT Shares will be used to incur qualifying Canadian Exploration Expenses. Qualifying expenses are to be incurred by no later than December 31, 2021 for renunciation to investors of FT Shares in the Offering effective December 31, 2020. The balance of the proceeds of the Offering will be used to advance the Company's gold exploration projects in Ghana, and for general corporate and working capital purposes.

In connection with the closing of the First Tranche, the Company paid finder's fees to PI Financial Corp., Haywood Securities Inc., Zuri-Invest AG., and Integral Wealth Securities Ltd., each arm's length finders, consisting of an aggregate of $50,778 in cash and an aggregate of 379,400 non-transferrable warrants ("Finder Warrants"). Each Finder Warrant entitles the holder to purchase one Common Share at a price of $0.18 for a period of two years from the Initial Closing Date.

All securities issued in the First Tranche of the Offering, including the Finder Warrants, are subject to a statutory hold period expiring on April 4, 2021. A second and final closing of the Offering is expected to take place on or around December 8, 2020. The Offering remains subject to final acceptance by the TSX Venture Exchange.

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

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will be pursuant to available prospectus exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions, and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.

About Pelangio

Pelangio acquires and explores world-class gold belt land packages Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo Property, the site of seven near-surface gold discoveries, and the 284 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine, as well as the newly optioned Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario on its Grenfell property, located 10 km from Kirkland Lake, at its Dome West property, situated some 800 meters from the Dome Mine in Timmins and is advancing its Hailstone property in Saskatchewan. See www.pelangio.com for further detail on all Pelangio's properties.

For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com

Forward Looking Statements

Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Offering generally, the proposed use of proceeds and the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about our ability to close additional tranches of the Offering in a timely manner, if at all, and the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the ability of the Company to meet the conditions of closing, our ability to conduct our exploration programs as planned, changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, increases in costs, exchange rate fluctuations, speculative nature of gold exploration and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

SOURCE: Pelangio Exploration Inc.

ReleaseID: 619433

EDMONTON, AB / ACCESSWIRE / December 3, 2020 / Rocky Mountain Liquor Inc. ("Rocky Mountain" or the "Company") (TSXV:RUM) announced today that Byrne Alberta Ltd (the "Acquiror"), on December 2, 2020, a company owned 100% by Peter and Joan Byrne, acquired common shares (the "Common Shares") of Rocky Mountain through the facilities of the TSX Venture Exchange (the "Transaction"). The Acquiror acquired ownership and control of 1,250,000 Common Shares at a price of $0.12 per Common Share.

Immediately prior to the Transaction Peter and Joan Byrne and 73297 Newfoundland and Labrador Ltd. (the "Joint Actors") along with the Acquiror directly and indirectly owned and controlled 8,181,290 Common Shares, representing approximately 17.23% of the issued and outstanding Common Shares as of December 2, 2020 based on 47,489,937 Common Shares issued and outstanding as of such date.

Immediately following the Transaction, the Acquiror and the Joint Actors, together, directly and indirectly owned and controlled 9,431,290 Common Shares, on a fully diluted basis, which represented approximately 19.86% of the issued and outstanding Common Shares as of December 3, 2020 based on 47,489,937 Common Shares issued and outstanding as of that date. There are no outstanding stock options or warrants issued; 47,489,937 outstanding Common Shares represents the entire float. The acquisition represents 2.6% of Common Shares of the Issuer and changes the percentage of ownership of the Acquiror and Joint Actors by more than 2% of Common Shares of the Issuer, triggering the filing of an Early Warning Report.

Peter Byrne is the Executive Chairman of Rocky Mountain and Joan Byrne is his spouse. Byrne Alberta Ltd. is a corporation registered in Alberta and Newfoundland and Labrador, owned 100% by Peter and Joan Byrne. 73297 Newfoundland and Labrador is a corporation registered in Newfoundland and Labrador and is owned 100% by Peter and Joan Byrne.

The Acquiror acquired the securities of Rocky Mountain for investment purposes. Depending on market conditions, the business and performance of the Issuer and other factors, the Acquiror or the Joint Actors may from time to time acquire and/or dispose of securities of Rocky Mountain or continue to hold their current position.

To obtain a copy of the Early Warning Report filed pursuant to applicable securities regulations in connection with the foregoing, the report is filed on SEDAR or use contact information below.

ABOUT ROCKY MOUNTAIN

Rocky Mountain owns 100% of Andersons Liquor Inc., headquartered in Edmonton Alberta, which now own and operate 26 private liquor stores in that province, up from 18 stores since the Common Shares began trading in December 2008. It is listed on the TSX Venture Exchange (TSX-V:RUM).

Forward-Looking Statements:

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.

More particularly and without limitation, this news release contains forward‐looking statements and information concerning the redemption of the Debentures and the timing associated therewith; the aggregate Redemption Amount; the issuance of Common Shares to satisfy the Redemption Price; the receipt of all necessary approvals including the approval of the TSX-V and the timing associated with obtaining such approvals; the closing of the Transaction and the expected timing; the number of Common Shares to be issued in satisfaction of the Redemption Price and the Interest Payment to be paid in cash; the ability to attract future long term investment capital and the timing associated therewith; the availability of post-Transaction strategic alternatives and the ability of the Company to capitalize on such alternatives; the ability to bring value to the Company stakeholders upon completion of the Transaction and the timing associated therewith; the advantages associated with the Transaction and the ability of the Company to achieve and implement such advantages to its benefit and the benefit of its stakeholders; and a share consolidation transaction, the timing associated with such a transaction, delivery of additional information and when such information may be available and if such a transaction would be supported by shareholders of the Company. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company, including expectations and assumptions concerning the Transaction and the ability to implement the Transaction; assumptions concerning necessary approvals required by the Company from the TSX-V and the ability to obtain such approvals on the terms anticipated and within the timelines required; overall assumptions concerning the financial markets and commodity markets; and overall business strategy. Although management of the Company believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release.

The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSX-V. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

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

For Further Information:

Peter J. Byrne
Executive Chairman
peterjbyrne@hotmail.com
780-686-7383

SOURCE: Rocky Mountain Liquor Inc.

ReleaseID: 619358