Rouyn-Noranda, Quebec–(Newsfile Corp. – December 30, 2024) – Radisson Mining Resources Inc. (TSXV: RDS) (OTCQB: RMRDF) (“Radisson” or the “Corporation“) is pleased to announce that it has received total gross proceeds of C$782,264.25 from the exercise of 2,897,275 class A shares purchase warrants (the “Warrants“) at a price of $0.27 per warrant. The Warrants were issued in relation to a private placement completed in June 2023 and had an expiry of December 30, 2024. They were exercised in full.
Matt Manson, President and CEO, commented: “We are grateful for the continuing support of our shareholders with the exercise of these warrants. We are closing 2024 with a robust treasury and a solid record of achievement during the year. Central to our work has been completing one of the largest drill programs ever undertaken at the O’Brien Gold Project (“O’Brien” or the “Project”). Results from this program will continue to be published into 2025, but we ended the year strongly with multiple high-grade intercepts highlighting the significant exploration potential of O’Brien at depth. These included results from the deepest hole ever drilled at the Project, and the first hole ever drilled below O’Brien’s historic workings, which returned an intercept of 242.0 g/t gold over 1.0 metre within a mineralized interval averaging 31.24 g/t gold over 8.0 metres. This was achieved a full 500 metres below the original mine and the base of our current mineral resources. We also saw the potential re-discovery of the famous O’Brien “Jewellery Box” stope, with an intercept grading 1,345 g/t gold over 1.0 metre at shallow depth. These “top and bottom” hits will guide our exploration planning for 2025, which is focussed on bringing out both the resource upside potential of the Project at depth and its very high-grade characteristics.”
Matt Manson continued: “During 2024 we also commenced work under the auspices of a Memorandum of Understanding (“MOU”) with IAMGOLD Corporation to assess the design criteria for processing mined material from O’Brien at the nearby Doyon gold mill, part of IAMGOLD’s Doyon-Westwood mine complex. This development approach assumes that O’Brien would become a component of the type of hub-and-spoke mining and milling arrangement characteristic of gold mining in Québec’s Abitibi region. Work under the MOU has progressed well, and has included metallurgical studies, flow sheet review, and a tailings assessment. We expect this work to be completed early in the new year. With these Project development studies and our ongoing exploration program, fully funded from a robust financial position, we are looking forward to a consequential year in 2025 for Radisson and the O’Brien Gold Project.”
Qualified Person
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O’Brien Gold Project.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the O’Brien Gold Project.
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com
Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com
Forward-Looking Statements
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. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Company’s ability to grow the O’Brien project and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to 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”, “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. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at O’Brien; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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