306,000 oz Au Average Annual Full Year Production
The FS provides a robust base case assessment for developing Windfall as an underground dual ramp-access mine with a central processing mill on site, and reflects drill results available as of
Highlights(1-6)
- Full year average production of 306,000 oz Au, 8.1 g/t Au average grade fully diluted
- Peak production of 374,000 oz Au in year two
- Average after-tax free cash flow of
C$257 Million per full year of production (C$2.3 Billion cumulative free cash flow) - Capex of
US$607 Million (includesUS$38 Million as contingency in direct and indirect costs), NPV/Capex ratio of 1.5 - All-in sustaining cost (“AISC”) of
US$758 /oz; Cash cost ofUS$587 /oz - 3,400 tonne per day milling operation
- Average recovery of 93%; all in mining cost of
US$136 /tonne C$6.2 Billion of gross revenue- Creation of over 1,000 direct and indirect jobs during construction and over 670 direct permanent jobs during operation
Notes: | |||
(1 | ) | Cautionary Statement: Readers are advised that the FS summarized in this news release is intended to provide only an initial, high-level overview of the project potential and design options. The FS mine plan and economic model include numerous assumptions. There is no guarantee the project economics described herein will be achieved. | |
(2 | ) | Full years of production refer to Years 1 to 9. | |
(3 | ) | AISC is presented within the meaning defined by the | |
(4 | ) | The FS relating to the disclosure in this news release will be filed on SEDAR (www.sedar.com) under Osisko's issuer profile within 45-days. | |
(5 | ) | Total cash costs and cash costs per ounce, and AISC and AISC per ounce are non-IFRS financial measures. See "Non-IFRS Financial Measures" for a discussion of non-IFRS financial measures. | |
(6 | ) | References to C$ and US$ are to Canadian and |
Osisko Chief Executive Officer
Osisko would like to thank our employees and contractors for their tremendous work over the past seven years to arrive at this important point in our project, and express our gratitude to our hosts the Cree First Nation of
Feasibility Study Details
The FS was integrated by
Project economics were evaluated based on a forecast date to receive the construction permit in Q1 2024. Unless stated otherwise, all costs are in Canadian dollars.
Table 1: FS Summary
Total mineralized material mined (t) | 12,183,405 |
Average mill feed diluted gold grade (Au g/t) | 8.06 |
Total gold contained (oz) | 3,158,713 |
Total gold produced (oz) | 2,942 339 |
Total gold payable (oz) | 2,940,868 |
Gold payable recovery (%) | 93.1% |
Average annual gold produced (Au oz per year) | 294,234 |
Average mill feed diluted silver grade (Ag g/t) | 4.18 |
Silver payable recovery (%) | 83.3% |
Total silver payable (oz) | 1,366,537 |
Total initial CAPEX (C$Million) | 788.6 |
Sustaining capital (C$Million) | 587.6 |
Operating cost (per tonne milled) | |
Mining (C$) | 82.21 |
Processing (C$) | 40.76 |
Waste & water management (C$) | 6.30 |
General & administration (C$) | 32.81 |
Electrical transmission line lease (C$) | 14.59 |
Total unit operating costs (per tonne milled) (C$) | 176.67 |
Table 2: Summary Economics at
LOM net smelter return (“NSR”) revenue (C$Million) | 6,134 |
Total LOM pre-tax cash flow (C$Million) | 2,432 |
Average annual pre-tax cash flow (C$Million) | 243 |
LOM income taxes (C$Million) | 721.8 |
Total LOM after-tax free cash (C$Million) | 1,710.2 |
Average annual after-tax free cash flow (C$Million) | 171 |
Discount rate (%) | 5.0% |
Pre-tax NPV (C$Million) | 1,685 |
Pre-tax IRR | 40.1% |
Pre-tax payback after start of production (years) | 2.0 |
After-tax NPV (C$Million) | 1,168.4 |
After-tax IRR | 33.8% |
After-tax payback after start of production (years) | 2.0 |
Table 3: All-In Sustaining Cost
Adjusted operating costs | |
Mining cost(1) | 993.0 |
Processing cost(1) | 492.3 |
Tailing & water management cost(1) | 76.1 |
General & administrative cost(1) | 396.3 |
Electrical transmission line lease cost(1) | 176.2 |
Royalties(1) | 127.4 |
Transport and refining costs(1) | 20.0 |
Ag by-product credit(1) | (37.3) |
Adjusted operating costs(1) | 2,244.1 |
Sustaining costs | |
LOM sustaining costs(1) | 587.6 |
Salvage value credit(1) | (18.7) |
Reclamation and closure costs(1) | 83.3 |
Total(1) | 2,896.4 |
All-in sustaining costs (US$/oz) | 757.6 |
All-in sustaining costs (C$/oz) | 984.9 |
Notes: | (1) All-in sustaining costs are presented as defines by the WGC less corporate G&A (2) Millions of Canadian dollars |
Table 4: Gold Price(1) and Exchange Rate(2) Sensitivity
Gold Price (US$/oz) | ||||||||
1,300 | 1,400 | 1,500 | 1,600(1) | 1,700 | 1,800 | 1,900 | 2,000 | |
Pre-tax NPV 5% (C$Million) | 836.2 | 988.6 | 1,350.7 | 1,685.1 | 1,968.0 | 2,217.7 | 2,444.6 | 2,654.3 |
After-tax NPV 5% (C$Million) | 640.4 | 739.2 | 964.6 | 1,168.4 | 1,338.7 | 1,485.3 | 1,618.1 | 1,740.5 |
Pre-tax IRR | 24.7% | 27.6% | 34.3% | 40.1% | 44.8% | 48.8% | 52.4% | 55.6% |
After-tax IRR | 21.5% | 24.0% | 29.3% | 33.8% | 37.5% | 40.6% | 43.3% | 45.8% |
Pre-tax payback after start of production (years) | 2.88 | 2.64 | 2.21 | 1.95 | 1.79 | 1.66 | 1.56 | 1.49 |
After-tax payback after start of production (years) | 3.03 | 2.78 | 2.32 | 2.03 | 1.86 | 1.74 | 1.64 | 1.57 |
Foreign Exchange Sensitivity | |||||||||||||
0.90 | 0.85 | 0.80 | 0.77(2) | 0.70 | 0.65 | 0.60 | 0.55 | ||||||
Pre-tax NPV 5% (C$M) | 1,025.4 | 1,952.2 | 1,268.0 | 1,685.1 | 2,134.1 | 2,034.3 | 2,549.9 | 2,478.8 | |||||
After-tax NPV 5% (C$M) | 762.5 | 1,329.2 | 913.4 | 1,168.4 | 1,436.4 | 1,377.9 | 1,679.4 | 1,638.1 | |||||
Pre-tax IRR | 28.3% | 44.5% | 32.8% | 40.1% | 47.5% | 45.9% | 54.0% | 52.9% | |||||
After-tax IRR | 24.5% | 37.3% | 28.1% | 33.8% | 39.6% | 38.3% | 44.6% | 43.8% | |||||
Notes: | |||||||||||||
(1 | ) | The base case uses a gold price of | |||||||||||
(2 | ) | The base case uses an exchange rate of |
Table 5: Consulting Firms and Area of Responsibility
Consulting Firm | Area of Responsibility |
A2GC − |
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| |
| |
| |
WSP Canada Inc. |
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GCM Consultant |
|
Mineral Resource Estimate
The FS mineral reserve estimate is based on the Windfall MRE (2022), which is summarized below in Table 6. This mineral resource estimate uses a base cut-off of 3.5 g/t Au in the measured mineral resource, indicated mineral resource and inferred mineral resource categories.
Table 6: Windfall Deposit Mineral Resource Estimate (1)
Area | Measured | Indicated | Inferred | ||||||||||||
Tonnes(1) (000) | (g/t) | (g/t) | Ounces Au(1) (000) | Ounces Ag(1) (000) | Tonnes(1) (000) | (g/t) | (g/t) | Ounces Au(1) (000) | Ounces Ag(1) (000) | Tonnes(1) (000) | (g/t) | (g/t) | Ounces Au(1) (000) | Ounces Ag(1) (000) | |
Lynx(2) | 671 | 11.4 | 7.2 | 247 | 154 | 6,638 | 13.2 | 6.7 | 2,814 | 1,426 | 4,774 | 10.8 | 6.9 | 1,663 | 1,063 |
Underdog | – | – | – | – | – | 928 | 9.5 | 3.4 | 284 | 101 | 4,072 | 7.7 | 3.0 | 1 011 | 397 |
Main(3) | 109 | 9.4 | 4.4 | 33 | 16 | 2,685 | 7.6 | 4.8 | 655 | 412 | 2,799 | 5.8 | 3.3 | 518 | 296 |
Triple 8 | – | – | – | – | – | – | – | – | – | – | 642 | 7.0 | 6.6 | 145 | 136 |
Total in situ | 780 | 11.1 | 6.8 | 279 | 170 | 10,250 | 11.4 | 5.9 | 3,754 | 1,939 | 12,287 | 8.4 | 4.8 | 3,337 | 1,892 |
Stockpiles | 32 | 16.9 | 4.3 | 17 | 4 | – | – | – | – | – | – | – | – | – | – |
Total | 811 | 11.4 | 6.7 | 297 | 174 | 10,250 | 11.4 | 5.9 | 3,754 | 1,939 | 12,287 | 8.4 | 4.8 | 3,337 | 1,892 |
Notes: | ||||
(1 | ) | Values are rounded to nearest thousand which may result in apparent discrepancies. | ||
(2 | ) | Lynx area includes: | ||
(3 | ) | Main area includes: Zone 27, Caribou 1, Caribou 2, Caribou Extension, Bobcat, Mallard, Windfall North, and F-Zones |
Mineral Reserve Estimate
The mineral reserve estimate on which the FS is based was completed by
Table 7: Windfall Mineral Reserve
Tonnes (000s) | Grade (g/t) | Contained | ||||
Probable mineral reserves(1)(2)(3)(4)(5) | 12,183 | 8.06 | 3,159 | |||
Notes: | ||||||
(1 | ) | |||||
(2 | ) | Mineral reserve estimate has an effective date of | ||||
(3 | ) | Estimated at | ||||
(4 | ) | Mineral reserve tonnage and mined metal have been rounded to reflect the accuracy of the estimate and numbers may not add due to rounding. | ||||
(5 | ) | Mineral reserves presented include both internal and external dilution along with mining recovery. The external dilution is estimated to be 20%. Assumed mining recoveries are 98% for development and an average of 91% for production. |
Capital and Operating Costs Estimate
The overall capital cost estimate developed in the FS generally meets the AACE Class3 requirements and has an accuracy range of between -10% and +15%. Contingency was calculated based on Monte Carlo simulation, using a P50 value.
Table 8: Capital Cost Summary(1)(2)
Capital Costs (Millions of Canadian dollars) | Pre-Production | Sustaining | Total | ||
Mining | 80.2 | 556.7 | 636.9 | ||
Mineral processing and filtration plant | 273.8 | 0.0 | 273.8 | ||
Mine surface facilities | 0.0 | 3.7 | 3.7 | ||
Electrical and communication | 14.7 | 0.0 | 14.7 | ||
Plant surface facilities | 63.9 | 0.0 | 63.9 | ||
Tailings and water management | 69.5 | 26.0 | 95.5 | ||
Indirect and owner’s costs | 237.0 | 1.3 | 238.3 | ||
Site reclamation and closure restoration | 0.0 | 83.3 | 83.3 | ||
Salvage value | 0.0 | (18.7 | ) | (18.7 | ) |
Subtotal | 739.1 | 652.3 | 1,391.3 | ||
Contingency (P50) | 49.5 | 0.0 | 49.5 | ||
Total capital costs(2) | 788.6 | 652.3 | 1,440.8 | ||
Production revenue NSR | 6,134.3 | 6,134.3 |
Notes: | |||
(1 | ) | Totals may differ due to rounding. | |
(2 | ) | Total capital costs exclude: (i) sunk costs for pre-ordered grinding mills ( |
Table 9: Operating Cost Summary
Operating costs (Millions of Canadian dollars) | |
Mining | 993.0 |
Processing | 492.3 |
Waste and water management | 76.1 |
General & administration | 396.3 |
Electrical transmission line lease | 176.2 |
Total operating costs | 2,134.0 |
Mining
The mineral resources used in the mine plan are contained in three different zones over a strike length of 2,300 metres and span from surface to a depth of approximately 1,100 metres. Each zone is characterized by multiple tabular panels, which mainly trend ENE and dip vertically to sub-vertically.
The planned underground mine will have a targeted production rate of 3,400 tonnes per day (“tpd”). The selected mining method is longitudinal longhole open stoping. Stope dimensions are 20 metres in height, median of 25 metres in strike length, and have a median thickness of 4.4 metres with a minimum thickness of 3.0 metres. Mineralized material will be extracted using a fleet of 14 and 18 tonne load-haul-dumps (“LHDs”) and 54 tonne haul trucks using a ramp to surface.
Processing
A total of 3,400 tpd run-of-mine will be processed at the Windfall site. The process plant consists of primary crushing, followed by a grinding circuit consisting of a SAG mill (24’ x 11’, in closed circuit with a pebble crusher) and ball mill (17’ x 31’, in closed circuit with cyclones - SABC circuit). A gravity circuit followed by leaching recovers coarse gold from the cyclone underflow, while the cyclone overflow, at a P80= 37 microns, is treated in a
The process plant is followed by a tailings filtration plant with filter press to produce paste backfill to send underground and/or dry material for filtered tailings stack storage.
The process plant is estimated to average 93.1% payable gold recovery and 83.3% for silver over the LOM.
The process plant building also includes mine and mill offices, a dry, warehouse, and first aid office.
Surface Infrastructure and Indirects
The mine envisions using existing exploration camp surface infrastructure: site access road; underground exploration ramp portal; underground ventilation and services; waste rock stockpile; ponds; water treatment plant; power line and substation; telecommunication tower; storage domes; and diesel generators. The project will include the construction of the following infrastructure: camp complex; First Nations cultural centre; potable water and sewage systems; gatehouse; truck shop; core shack; process plant complex including crushing line, offices, dry and warehouse; waste rock stockpile extension; overburden and ore stockpiles; tailings filtration and paste backfill plant; fire protection system; water treatment plant upgrade; surface water management facility including ditches, ponds and pumping stations; overhead power lines; service and hauling roads; Lynx portal and services; exhaust ventilation systems; fuel storage and distribution; and tailings storage facility.
Indirect costs such as owner’s costs, and construction management, temporary facilities for construction and other related items are estimated at
Environment and Closure
The Windfall mining project is located north of the 49th parallel in the administrative region of
The project is subject to the provincial EIA and review procedure under Section 153 of chapter II of the Environment Quality Act (Québec) (LQE; L.R.Q., c. Q 2 ), which documents the provisions applicable to the
Inventories have been carried out since 2010. Additional data is being collected and the results will be integrated into the ongoing EIA study.
In addition to provincial EIA approval, the project will require permits and authorizations prior to construction and operation of the proposed mine. Requests for these approvals will be submitted following the EIA.
A closure plan for the Windfall project has been developed, the closure costs are estimated at
Stakeholder Engagement
The Windfall project is located on the traditional lands of the CFNW. Osisko has taken a proactive approach toward stakeholder consultation, holding more than 250 communication activities since 2015, primarily with in CFNW and
Concerns raised by communities include land disturbance, water quality, impacts to wildlife and the cumulative effects of all projects in the area. Osisko is committed to continuing the dialogue with potentially affected communities through the environmental assessment process.
The CFNW and non-First Nation communities have expressed strong support for the project. Osisko’s understanding of their main interest in the project is the maximization of local economic benefits - specifically with a focus on employment and entrepreneurial opportunities throughout the various phases of the project. In 2022 more than 95 First Nations community members worked at the Windfall site. Since 2016, Osisko has invested over
Royalties
A 2.1% NSR royalty on all metals produced from the Windfall project has been applied in the FS based on existing royalty agreements and reflecting the mine plan.
Opportunities
The FS mining plan includes 1.3 million tonnes of inferred mineral resources located within mineral reserve blocks, for which a zero-grade value has been assigned. Through a limited amount of underground drilling, the Corporation believes that it could potentially convert most of the 1.3 million tonnes, grading between 4.0-6.0 g/t Au and representing between 160,000 - 250,000 ounces Au of inferred resource material.
Based on bulk sample results from Windfall, the Corporation believes additional recovery could be achieved by optimizing gravity circuit.
Ongoing studies and continuous improvement in waste and water management approaches may result in the reduction of the surface footprint and impacts.
The Corporation will continue to investigate opportunities that may arise to allow electrification of the mining fleet as a way of further reduction of the project
Conference Call Osisko will host a conference call on Toll-free dial-in number ( Local dial-in number: 416-933-3854 Conference ID: 1418200 |
Notes for Mineral Resource Estimate (being the Windfall MRE (2022)) on Windfall Deposit
(1 | ) | The effective date of the Windfall MRE (2022) is | |||
(2 | ) | The Windfall MRE (2022) has been prepared in accordance with the "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines", adopted by the | |||
(3 | ) | The mineral resources referred to in the Windfall MRE (2022) are not mineral reserves and they do not have demonstrated economic viability. The quantity and grade of reported inferred mineral resources are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as indicated mineral resources or measured mineral resources; however, it is reasonably expected that most of the inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction. Isolated and discontinuous blocks above the stated cut-off grade are excluded from the mineral resource estimate. Must-take material (i.e., isolated blocks below cut-off grade located within a potentially mineable volume) was included in the mineral resource estimate. | |||
(4 | ) | Mineral resources are reported inclusive of those mineral resources converted to mineral reserves. | |||
(5 | ) | As of | |||
(6 | ) | All core assays reported by Osisko were obtained by analytical methods described below under "Technical Information and Quality Control & Quality Assurance – Quality Control and Reporting Protocols". | |||
(7 | ) | Geological interpretation of the deposit is based on lithologies, mineralization style, alteration, and structural features. Most mineralization envelopes are subvertical, striking NE-SW and plunging approximately 40 degrees towards the North-East. The 3D wireframing was generated in Leapfrog Geo, a modelling software, from hand selections of mineralization intervals. The mineral resource estimate includes a total of 579 tabular, mostly sub-vertical domains defined by individual wireframes with a minimum true thickness of 2.0 metres. | |||
(8 | ) | Assays were composited within the mineralization domains into 2.0 metre length composites. A value of 0.00125 g/t Au and 0.0025 g/t Ag (¼ of the detection limit) was applied to unassayed core intervals. | |||
(9 | ) | High-grade composites were capped. Capping was determined in each zone from statistical studies on groups of lenses sharing similar mineralization characteristics. Capping varies from 6 g/t Au to 200 g/t Au and from 5 g/t Ag to 150 g/t Ag. A three-pass capping strategy defined by capping values decreasing as interpolation search distances increase was used in the grade estimations. | |||
(10 | ) | Block models were produced using Datamine™ | |||
(11 | ) | Ordinary Kriging (OK) based interpolations were produced for gold estimations in each zone of the Windfall deposit, while silver grade estimations were produced using Inverse Distance Squared (ID2) interpolations. Gold estimation parameters are based on composite variography analyses. The gold estimation parameters were used for the silver estimation. | |||
(12 | ) | Density values between 2.74 and 2.93 were applied to the mineralized lenses. | |||
(13 | ) | The mineral resource estimate included in the Windfall MRE (2022) uses the measured mineral resource, indicated mineral resource and inferred mineral resource categories, as follows: | |||
(a) | The measured mineral resource category is manually defined and encloses areas where: | ||||
(i) | drill spacing is less than 12.5 metres; | ||||
(ii) | blocks are informed by mostly four drill holes; | ||||
(iii) | geological evidence is sufficient to confirm geological and grade continuity; and | ||||
(iv) | lenses have generally been accessed by underground workings. | ||||
(b) | The indicated mineral resource category is manually defined and encloses areas where: | ||||
(i) | drill spacing is generally less than 25 metres; | ||||
(ii) | blocks are informed by mostly three drill holes; and | ||||
(iii) | geological evidence is sufficient to assume geological and grade continuity. | ||||
(c) | The inferred mineral resource category is manually defined and encloses areas where: | ||||
(i) | drill spacing is less than 100 metres; | ||||
(ii) | blocks are informed by a minimum of two drill holes; | ||||
(iii) | geological evidence is sufficient to imply, but not verify geological and grade continuity. | ||||
(14 | ) | Tonnage and gold grade of the stockpiles were estimated using the grade control model. Densities by lithologies, ranging from 2.76 to 2.84, were used in the estimation of the tonnages. Gold grades were estimated with an average of muck samples results for every round tonnage, based on muck samples with an average sample weight of 3.4 kilograms taken every 8-yard scoop bucket. The sampling capping varying between 60 g/t Au to 80 g/t Au was applied on the muck gold grade results. An average per silver grade estimates in the stockpiles was reported from the resource block model as silver was not analyzed in the muck samples. | |||
(15 | ) | The mineral resource is reported at 3.5 g/t Au cut-off. The cut-off grade is based on the following economic parameters: gold price at | |||
(16 | ) | Estimates use metric units (metres (m), tonnes (t), and g/t). Metal contents are presented in troy ounces (metric tonne x grade / 31.103475). | |||
(17 | ) | The independent qualified person is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue that could materially affect the mineral resource estimate. |
Technical Information and Quality Control & Quality Assurance
Independent Qualified Persons
This FS was prepared for Osisko by
Patrick Andrieux ,P.Eng . (A2GC −Andrieux & Associates Geomechanics Consulting L.P. )Colin Hardie ,P.Eng ., Mathieu Bélisle,P.Eng . (BBA Inc. )Patrick Langlais ,P.Eng . (Entech Mining Ltd. )Pierre-Luc Richard ,P. Geo . (PLR Resources Inc. )Andréanne Hamel ,P. Eng ., Aytaç Göksu,P. Eng .,Eric Poirier ,P. Eng ., PMP,Frédéric Choquet ,P.Eng .,Isabelle Larouche ,P.Eng .,Ken DeVos ,P. Geo .,Yves Boulianne ,P. Eng . (WSP Canada Inc.)Mélissa Tremblay ,P. Eng . (GCM Consultants )
Each "qualified person" noted above has reviewed and approved the scientific and technical content in this news release relating to the FS.
Qualified Person
The scientific and technical content in this news release has been reviewed and approved by Mr.
Quality Control and Reporting Protocols
NQ core assays were obtained by either 1 kilogram screen fire assay or standard 50 gram fire assaying-AA finish or gravimetric finish at (i)
About Windfall
The Windfall gold deposit is located between Val-d’Or and
The FS relating to the disclosure of this news release will be filed on SEDAR (www.sedar.com) under Osisko’s issuer profile within 45-days. Reference should be made to the full text of the FS for the assumptions, qualifications and limitations relating thereto.
Non-IFRS Financial Measures
The Corporation has included certain non-IFRS financial measures in this news release, such as capital cost, sustaining capital cost, total capital cost and AISC, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. As a result, these measures may not be comparable to similar measures reported by other corporations. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Non-IFRS financial measures used in this news release and common to the gold mining industry are defined below.
Total Cash Costs and Total Cash Costs per Ounce
Total cash costs are reflective of the cost of production. Total cash costs reported in the FS include mining costs, processing, general and administrative costs of the mine, silver by-product credit, refining costs, transportation costs and royalties. Total cash costs per ounce is calculated as total cash costs divided by payable gold ounces.
AISC and AISC per Ounce
AISC (all-in sustaining cost) is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the PFS includes total cash costs, sustaining capital, closure costs and salvage, but excludes corporate general and administrative costs, waste and water management costs, electrical transmission line lease costs. AISC per ounce is calculated as AISC divided by payable gold ounces.
About
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in
CONTACT INFORMATION:
Chief Executive Officer
Telephone (416) 363-8653
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