Exploration underway at Daylight and Toughnut Gold Properties, British Columbia

Exploration underway at Daylight and Toughnut Gold Properties, British Columbia

Canada NewsWire

CALGARY, June 28, 2017 /CNW/ - PRIZE MINING CORPORATION (“Prize” or the “Company”) (TSXV:PRZ ) (MQSB:GR:FRANKFURT) is pleased to report that Phase 1 fieldwork is now underway at the Daylight and neighboring Toughnut gold properties, located near Nelson, British Columbia.

Collectively, the 1550 ha Daylight and the 1010 ha Toughnut properties strategically cover a 5-km strike-length of the central and eastern segments of the >1 km wide Silver King shear system. The overall purpose of the Phase-I field program this summer is to refine the locations and geochemical and geophysical signatures of known historical workings on the properties. Prize will use this information to spearhead upcoming Phase-II trenching and Phase-III drilling programs later in 2017.

Feisal Somji, president and chief executive officer of Prize Mining, commented: “With the recent acquisition of the Toughnut gold property and an oversubscribed $6mm funding, Prize is well positioned to undertake a discovery focused exploration program.”

Terralogic Exploration Inc. of Cranbrook BC is responsible for carrying out the 2017 exploration program, with Phase-I including an infill soil geochemical program, strategic high-resolution ground based magnetic & VLF-EM geophysical surveys, and detailed prospecting, geological and structural analysis. The 3-week Phase-I exploration program is expected to continue until July 16th.

Within the first week of the program, several new forest service roads have been identified that provide new prospective cross-cut exposures over the main mineralized trends at both Daylight and Toughnut property areas. At the Daylight, one such road replaces at least two proposed cat trenches from the upcoming Phase-II program. New road cuts will be systematically mapped and chip sampled during the Phase-I program.

Baseline environmental water quality sampling will also be initiated during Phase-I in anticipation of bulk sampling activities planned for the Daylight and Kena properties in subsequent years.

As a 3rd party contractor, Terralogic personnel will institute and maintain a rigorous and independent QA/QC program throughout the duration of fieldwork and reporting portions of the 3-Phase exploration program. Sample chain-of-custody will be instituted with sample analysis being completed by Bureau Veritas, in Vancouver BC, utilizing ICP analysis of rocks (MA250) and soils (AQ252), with additional gold fire-assay analysis (FA430) of all rock samples and screen-metallic assay (FS631) of select high-grade samples. Bureau Veritas is wholly independent of Prize Mining and TerraLogic and is accredited under CAN-P-4E (ISO/IEC 17025): General Requirements for the Competence of Testing and Calibration Laboratories ISO/IEC 17025-2005.

Jarrod Brown, P.Geo., of Terralogic Exploration Inc., a Qualified Person under NI 43-101, has reviewed and approved the scientific and technical information in this news release.

About Prize Mining Corp.

Prize is a Calgary-based junior mining issuer with offices in Calgary, Alta., and is listed on the TSX Venture Exchange. Prize is engaged in the acquisition, exploration and development of mining properties. Find out more at: www.prizemining.com.

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SOURCE Prize Mining Corporation

View original content: http://www.newswire.ca/en/releases/archive/June2017/28/c7740.html

Giyani Reports Multiple Manganese Occurences at Kgwakgwe Hill Project, Botswana

OAKVILLE, ONTARIO–(Marketwired – June 28, 2017) – Giyani Gold Corporation (TSX VENTURE:WDG)(FRANKFURT:KT9) (“Giyani” or the “Company”) is pleased to report that the Company’s regional surface mapping and sampling program, currently underway in the Kanye Basin, Botswana has confirmed multiple manganese occurrences. Many of these occurrences are located within favorable geological horizons, similar to that at the historic Kgwakgwe Hill manganese deposit where the Company has recently reported >60% MnO (refer to the June 13th news release).

The Company’s geologists have reported multiple occurrences of visible manganese in an area that extends around 70 KM to the north east and 50KM to the east of Kgwakgwe Hill reaching the border with South Africa and within a short distance from Gaborone, the capital of Botswana. This proximity to major infrastructure gives our project yet another significant logistical advantage. It is worth noting that our geological team has discovered several old, small scale, manganese mines during this phase of sampling. These historical mines were undocumented and unreported in existing government records of the area.

Wajd Boubou states, “These visible manganese showings dramatically expand our reach and increase our potential of finding economic manganese deposits within our extensive land package in Botswana. The management team is very optimistic that this new development brings Giyani closer to our target of becoming the world’s leading new manganese opportunity. Our initial assessment proved to be plausible that the Transvaal manganese deposits extend northward from South Africa into Botswana directly on our land.”

Our geological team has collected 80 representative samples from the area, split them in half, stored one half at the Company’s storage facility in Botswana and shipped the other half to South Africa for chemical lab analysis. Results from this batch of samples will be published once available.

Giyani is in the final stages of closing the acquisition of 88% interest in eight prospecting licences on Kgwakgwe Hill (The K. Hill Project) covering an area of 6,827 square kilometers (682,730 HA). Giyani also owns 100% interest in additional five prospecting licences south of Kgwakgwe Hill (The K.Hill-South Project) covering an area of 1,308 square kilometers (130,800 HA).

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 news release.

On behalf of the Board of Directors of Giyani Gold Corporation.

Duane Parnham, Executive Chairman & CEO

Forward-Looking Statements

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, the financial picture of the Company 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.

Contact Information:
Giyani Gold Corporation
Wajd Boubou
President
1.289.837.0066
wboubou@giyanigold.com

Platinum Group Metals Announces Private Placement of US$20 Million 6 7/8% Convertible Senior Subordinated Notes Due 2022

VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA–(Marketwired – June 27, 2017) –
Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) announces that it has entered into purchase agreements with certain institutional investors to issue and sell US$20 million aggregate principal amount of 6 7/8% convertible senior subordinated notes due 2022 (the “Notes”) pursuant to applicable U.S. and Canadian private placement exemptions. The sale of the Notes is expected to be completed on June 30, 2017, subject to customary closing conditions.

The Notes will bear interest at a rate of 6 7/8% per annum, payable semi-annually on January 1 and July 1 of each year, beginning on January 1, 2018, in cash or at the election of the Company, in common shares of the Company (“Common Shares”) or a combination of cash and Common Shares, and will mature on July 1, 2022, unless earlier repurchased, redeemed or converted. The Notes will be convertible at any time at the option of the holder, and may be settled, at the Company’s election, in cash, Common Shares, or a combination of cash and Common Shares. If any Notes are converted on or prior to the three and one half year anniversary of the issuance date, the holder of the Notes will also be entitled to receive an amount equal to the remaining interest payments on the converted Notes to the three and one half year anniversary of the issuance date, discounted by 2%, payable in Common Shares. The initial conversion rate of the Notes will be 1,001.1112 Common Shares per US$1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately US$0.9989 per Common Share, representing a conversion premium of approximately 15% above the NYSE MKT closing sale price for the Company’s Common Shares of US$0.8686 per share on June 27, 2017. The conversion rate will be subject to adjustment upon the occurrence of certain events. The Notes will be the Company’s unsecured senior subordinated obligations and will be subordinated in right of payment to the prior payment in full of all of the Company’s existing and future senior indebtedness pursuant to the indenture governing the Notes. Within six months after the closing date of the sale of the Notes, the Company will cause a prospectus and a registration statement to be filed with Canadian securities regulatory authorities and with the U.S. Securities and Exchange Commission (the “SEC”), as applicable, to permit the resale of the Common Shares issuable upon conversion of the Notes and cause such prospectus and registration statement to become and remain effective.

The Company intends to use the net proceeds from the sale of the Notes for working capital at the Maseve Mine; for work on the definitive feasibility study on the Waterberg Project, which is now underway; for general and administrative expenses; and for general working capital purposes.

The Notes were offered and sold to certain institutional investors in a transaction that is exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”).

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The Notes and the Common Shares issuable upon the conversion of the Notes have not been registered, and the Notes will not be registered, under the U.S. Securities Act and may not be offered or sold absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act, and in Canada will be subject to a four month restricted period from the issue date of the Notes.

The Company will apply to list the Common Shares issuable upon conversion of the Notes on the Toronto Stock Exchange (“TSX”) and the NYSE MKT LLC. For the purposes of TSX approval, the Company intends to rely on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers.


About Platinum Group Metals Ltd.

Platinum Group is based in Johannesburg, South Africa and Vancouver, Canada. The Company’s business is currently focused on the operation of the Project 1 “Maseve” platinum mine and the exploration and feasibility engineering on the newly discovered Waterberg platinum and palladium deposit, where the Company is the operator of the Waterberg JV Project with JOGMEC and Mnombo.

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, President and CEO

The TSX and the NYSE MKT have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the use of proceeds from the sale of the Notes. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, that the Company’s use of proceeds from the sale of the Notes may differ from those indicated; uncertainty of production, development plans and cost estimates for the Maseve Mine; additional financing requirements; the Company’s ability to comply with the terms of its indebtedness; cash flow risks; risks of delays in the production ramp-up of the Maseve Mine; variations in market conditions; the nature, quality and quantity of any mineral deposits that may be located; metal prices; other prices and costs; currency exchange rates; the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities and to comply with applicable regulations; the Company’s ability to produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies; and other risk factors described in the Company’s Form 40-F annual report, annual information form and other filings with the SEC and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively. Any forward-looking statement speaks only as of the date on which it is made and, except as required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise.

Contact Information:
Platinum Group Metals Ltd.
R. Michael Jones
President
(604) 899-5450 / Toll Free: (866) 899-5450

Platinum Group Metals Ltd.
Kris Begic
VP, Corporate Development
(604) 899-5450 / Toll Free: (866) 899-5450