Arian Silver {AIM: AGQ} and {TSX.V: AGQ} have conceded ownership of their flagship mine to Quintana in a deed of settlement.

CEO Jim Williams confrms the company are looking to move forward with their other projects, and as a result of the settlement will have circa $480,000 in the bank.

2015-11-27 07:17 ET – News Release

ARIAN SILVER SIGNS SETTLEMENT DEED WITH QUINTANA

Further to its announcement on Oct. 29, 2015, of the termination of the letter of intent and non-binding term sheet with Quintana AGQ Holding Co. LLC, Arian Silver Corp. has signed an acknowledgement of the default notice announced on Nov. 3, 2015, and has further entered into a settlement deed with Quintana  AGQ Holding Co. LLC and its affiliates.

Terms of the settlement deed

Quintana is entitled to exercise its foreclosure rights under the terms of the senior secured financing arrangement announced on Oct. 15, 2014, and Oct. 30, 2014, and accordingly pursuant to the acknowledgement, Quintana has exercised its security and taken ownership of Arian Silver de Mexico SA de CV and its assets, including the San Jose project.

Arian, through a new subsidiary, will retain the San Celso, Calicanto and Los Campos projects along with all other mining concessions held at the time when the company became public on the AIM and TSX Venture Exchange in 2006, such remaining concessions all comprising more than 1,600 hectares.

As at Oct. 31, 2015, Arian’s accrued debt under the senior secured financing arrangement with Quintana amounted to approximately $17.8-million (U.S.) with the initial repayment commencing in April, 2016. In addition the outstanding balance under the base metal purchase agreement (BMPA) with Quintana amounted to $15.2-million (U.S.).

Given the current metal prices, in particular the silver price, together with the mechanical issues and resulting delays suffered during commissioning of the La Tesorera processing plant, the San Jose operation will require a further significant cash injection to make the project viable. In light of the aforementioned security arrangements and financial difficulties, together with Quintana’s unwillingness to waive the timing of any default under the agreements, the board in conjunction with its legal advisers, has concluded that an orderly foreclosure process under the terms of the settlement deed was the only viable option available to the company, that it was in the best interests of both shareholders and creditors, and that otherwise, the company would not be able to meet its financial commitments as they fall due.

Under the terms of the settlement deed, on closing (expected by Dec. 31, 2015), Quintana will release Arian from its obligations under the senior secured loan arrangement as well as the BMPA and investment agreement dated Oct. 14, 2014. Closing will be deemed to have occurred upon inter alia the company having delivered to Quintana all documentation regarding the transitional matters as aforementioned.

In return for receiving certain indemnities and releases, Quintana has paid $650,000 (U.S.) to Arian, giving a positive net working capital position of $478,000 (U.S.). In addition, Quintana will pay to Arian a further $50,000 (U.S.) upon closing as described above. In the event closing has not completed on or before Dec. 31, 2015, Quintana will have the right to demand reimbursement of the $650,000 (U.S.) payment. The funds paid by Quintana are not tied to a specific use of proceeds and may be expended before closing, but together with existing cash, are currently expected to sustain the company to February, 2016.

Upon completion of the foreclosure process and closing of the transaction, Arian will be debt free and have no liability for the outstanding creditor balances in Mexico of approximately $1.9-million (U.S.).

Continuing strategy

The San Celso, Calicanto and Los Campos concessions include high-grade brownfield gold and silver projects in Zacatecas in close proximity to existing mines, all of which benefit from excellent infrastructure. In addition, Arian is in discussions to grow its asset portfolio to include strategically located mining concessions.

The company will need to raise additional funds for its projects in Mexico and for general working capital purposes; discussions are currently under way in this regard.

Jim Williams, chief executive officer of Arian, commented: “Despite this setback we must first take stock, and then look ahead to the future. As a management team we are focused on a return to growth with the raising of funds, acquisition of additional mining concessions, and continuing of exploration activity.”

The company’s shares will remain suspended until further notice.

Scorpio Gold {TSX.V: SGN} published their Q3 2015 results.

Production was slightly off against their forecast numbers, but offset to some extant by lower production costs.

An impairment charge of $16.9 million caused a netloss

Avalon Rare Metals {TSX: AVL} President and CEO Don Bubar made a strong presentation to a full house, concerning AVL’s new lithium project, Separation Rapids.

The evening was opened by keynote speaker Simon Moores of Benchmark Minerals

The City Investors Circle lithium focused evening proved popular with investors, with a full house to listen to two presentations on the lithium industry and forward projections for supply and demand.

Simon Moores, MD of Benchmark Minerals opened proceedings with a talk of the lithium-ion battery supply chain, and featured many interesting slides on supply future and demand assumptions.

Simon Then handed the floor to Don Bubar of Avalon Rare Metals, who presented on their new Separation Rapids lithium project in Canada.

Don focused on the uniqueness of the lithium they have, and the low cost and ease of extraction, being at surface.

The presentation finished with a review of the East Kemptville tin project, and the possibility of a low cost small startup option being explored, that would generate positive cashflow for AVL, for a modest capex.

It was heartening to see such a crowd for a Canadian junior in London given the current market malaise, and testament to the fact that Don Bubar is a regular visitor to London to update investors, regardless of the market conditions, and is to be congratulated for doing so.

City Investors Circle evening presentation for Avalon Rare Metals, with a keynote opening by Benchmark Minerals on the 26th November, announces that due to high number of delegates, the room has been changed to the larger Provence Room in the same venue.

There are now only two places remaining for this event..

Anyone wishing to attend that has not already registered is advised to call to check if places remain before travelling

If you would like to attend this event and have not already registered, please contact me ASAP, and I will advise if we have places remaining.

Email – ak@cityir.com

Telephone – 07832 135500

You may text me if I am unable to attend your call and I will reply as soon as I can by phone or text.

Andrew.  City Investors Circle

07832 135500

Carlisle Goldfields {TSX.V: CGJ} has announced the date of the Special General Meeting for shareholders to vote on the proposed takeover deal with Alamos Gold.

The offer has been approved by the Carlisle BOD.

Carlisle Goldfields Mails and Files Meeting Materials for Upcoming Special Meeting of Shareholders

Barkerville Gold reported high grade gold results form further drilling at Cariboo.

The glory hole was 9 metres by 13.21 gpt AU.

Barkerville drills nine m of 13.21 g/t Au at Cariboo

2015-11-23 11:14 ET – News Release

Mr. Tom Obradovich reports

BGM INTERSECTS HIGH GRADE GOLD AT NEW DEPTHS IN BC VEIN PHASE I DRILLING PROGRAM

Barkerville Gold Mines{TSX.V: BGM}  has released additional results from the continuing phase I drilling program on Barkerville Mountain at the company’s flagship Cariboo gold project.

The results of these drill holes are presented in the table. A drill hole location plan map is available on the company’s website.

Drilling highlights:

• BGM-15-087: 23.47 grams per tonne (0.68 ounce per ton) gold over three metres, including 47.40 g/t (1.38 ounces per ton) Au over 1.20 metres;
• BGM-15-089: 12.37 g/t (0.36 ounce per ton) Au over three metres, including 27.17 g/t (0.79 ounce per ton) Au over one metre;
• BGM-15-090: 13.21 g/t (0.39 ounce per ton) Au over nine metres, including 18.32 g/t (0.53 ounce per ton) Au over 4.80 metres, including 62.38 g/t (1.82 ounces per ton) Au over one metre;
• BGM-15-092: 17.00 g/t (0.50 ounce per ton) Au over 4.45 metres, including 31.44 g/t (0.92 ounce per ton) Au over 2.30 metres, including 51.87 g/t (1.51 ounces per ton) Au over 1.30 metres;
• BGM-15-096: 10.17 g/t (0.30 ounce per ton) Au over five metres, including 21.85 g/t (0.64 ounce per ton) Au over two metres;
• BGM-15-097: 5.27 g/t (0.15 ounce per ton) Au over 18.00 metres, including 13.37 g/t (0.39 ounce per ton) Au over 5.70 metres, including 24.86 g/t (0.73 ounce per ton) Au over one metre;
• BGM-15-102: 22.48 g/t (0.66 ounce per ton) Au over 2.50 metres, including 51.16 g/t (1.49 ounce per ton) Au over one metre;
• BGM-15-109: 11.23 g/t (0.33 ounce per ton) Au over 4.05 metres, including 23.51 g/t (0.69 ounce per ton) Au over 1.85 metres, including 34.80 g/t (1.02 ounce per ton) Au over 0.75 metre;
• -BGM-15-109: 8.99 g/t (0.26 ounce per ton) Au over 2.80 metres, including 10.70 g/t (0.31 ounce per ton) Au over 1.10 metres and 14.50 g/t (0.42 ounce per ton) Au over 0.80 metre;
• BGM-15-110: 10.03 g/t (0.29 ounce per ton) Au over five metres, including 13.60 g/t (0.40 ounce per ton) Au over one metre and 19.30 g/t (0.56 ounce per ton) Au over one metre.

“This discovery gives us confidence in our focused and disciplined exploration program, and also our decision to potentially restart production at the Bonanza Ledge mine. Additional drilling in this area will focus on confirming the newly outlined mineralisation and defining the boundaries of the zones. These new high-grade drill intercepts provide strong evidence that the B.C. vein mineralisation continues at depths greater than 400 metres,” said Tom Obradovich, president and chief executive officer.

Discussion of results

Having successfully completed the first tier (surface to minus-150 metres vertical depth), of widely spread out, 50-metre-spaced drill holes along the 1,400-metre known strike of the BCV structure, the company is now systematically testing at depth priority areas of this high-grade vein system with aggressive 100-metre drill hole spacings in an effort to define the outer limits of this large and laterally continuous mineralized system. Drill holes BGM-15-109 (8.99 g/t (0.26 ounce per ton) Au over 2.80 metres, including 10.70 g/t (0.31 ounce per ton) Au over 1.10 metres and 14.50 g/t (0.42 ounce per ton) Au over 0.80 metres) and BGM-15-110 (10.03 g/t (0.29 ounce per ton) Au over five metres, including 13.60 g/t (0.40 ounce per ton) Au over one metre and 19.30 g/t (0.56 ounce per ton) Au over one metre) have intersected the BCV at vertical depths of minus-350 and minus-400 metres vertically below surface and now represent the deepest intersections ever recorded on the BCV structure. Although somewhat shallower at only minus-170 metres below surface, BGM-15-089 intersected 12.37 g/t (0.36 ounce per ton) Au over three metres, including 27.17 g/t (0.79 ounce per ton) Au over one metre in the BCV and represents a possible extension of the gold mineralization encountered in a historical drill hole BC-00-33, which graded 22.74 g/t Au (0.66 ounce per ton) Au over 4.11 metres 80 metres along strike to the southeast and immediately below the Bonanza Ledge open pit. The area between these two drill holes has never been drill tested and remains open to depth.

Hangingwall veins continue to be intersected above the BCV as per drill hole BGM-15-078 which intersected 8.94 g/t (0.26 ounce per ton) Au over 4.35 metres, including 13.38 g/t (0.39 ounce per ton) Au over 2.75 metres and 25.00 g/t (0.73 ounce per ton) Au over 0.75 metre.

Additionally, as part of the exploratory drill testing of auriferous soil anomalies on Barkerville Mountain, two new occurrences have been discovered by drill holes BGM-15-102 (22.48 g/t (0.66 ounce per ton) Au over 2.50 metres, including 51.16 g/t (1.49 ounce per ton) Au over one metre) and BGM-15-109 (11.23 g/t (0.33 ounce per ton) Au over 4.05 metres, including 23.51 g/t (0.69 ounce per ton) Au over 1.85 metres, including 34.80 g/t (1.02 ounce per ton) Au over 0.75 metre) occurring at minus-10 and minus-180 metres vertically below surface, respectively. These two new occurrences remain untested in all directions and will be followed up with additional drilling in first quarter 2016.

Qualified persons

Exploration activities at the Cariboo gold project are jointly administered on-site by the company’s project managers, Maggie Layman, PGeo, and Wanda Carter, PGeo. As per National Instrument 43-101, Paul Geddes, PGeo, vice-president, exploration, is the qualified person for the company, and has prepared, validated and approved the technical content of this news release. The company strictly adheres to Canadian Institute of Mining, Metallurgy and Petroleum best practices in conducting, documenting and reporting its exploration activities on the Cariboo gold project.

Quality assurance/quality control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on-site at the company’s secure facility in Wells, B.C. Numbered security tags are applied to lab shipments for chain of custody requirements. The company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QA/QC program was designed and approved by Lynda Bloom, PGeo, of Analytical Solutions Ltd., and is overseen by Paul Geddes, PGeo, vice-president, exploration.

Drill core samples are submitted to SGS Canada’s analytical facility in Burnaby, B.C., for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1,000 grams is pulverized. Analysis for gold is by 50-gram fire assay fusion with atomic absorption (AAS) finish with a lower limit of five parts per billion and upper limit of 10,000 ppb. Samples with gold assays greater than 10,000 ppb are reanalyzed using 50 g fire assay with gravimetric finish, as well as 1,000 g screen metallic fire assay. Samples are also analyzed using a 49-multielemental geochemical package by a four-acid digestion, followed by inductively coupled plasma-atomic emission spectroscopy (ICP-AES) and inductively coupled plasma-mass spectroscopy (ICP-MS).

                   CARIBOO DRILL RESULTS

Hole           From      To   Core length       Au       Au
                 (m)     (m)           (m)    (g/t)   (oz/t)

BGM-15-078    52.25   56.60          4.35     8.94     0.26
incl.         52.25   55.00          2.75    13.38     0.39
incl.         52.25   53.00          0.75    25.00     0.73
and           53.00   54.00          1.00    12.50     0.36
BGM-15-078   179.78  180.80          1.02     8.30     0.24
BGM-15-079   111.50  122.00         10.50     5.44     0.16
incl.        119.00  122.00          3.00    11.39     0.33
incl.        119.00  120.50          1.50    17.40     0.51
BGM-15-080   138.50  139.30          0.80     1.71     0.05
BGM-15-080   145.00  148.00          3.00     1.38     0.04
BGM-15-081   171.00  173.90          2.90     3.47     0.10
BGM-15-082    23.77   28.90          5.13     9.05     0.26
incl.         24.70   25.55          0.85    13.57     0.40
and           26.50   27.50          1.00    12.16     0.35
and           27.50   28.90          1.40    10.59     0.31
BGM-15-083                                              NSA
BGM-15-084                                              NSA
BGM-15-085    93.00   95.00          2.00     1.84     0.05
BGM-15-086                                              NSA
BGM-15-087   113.00  122.00          9.00     8.79     0.26
incl.        113.00  116.00          3.00    23.47     0.68
incl.        113.00  113.50          0.50     9.16     0.27
and          113.50  114.70          1.20    47.40     1.38
BGM-15-088   146.00  150.25          4.25     5.56     0.16
BGM-15-089   176.00  179.00          3.00    12.37     0.36
incl.        176.00  177.00          1.00     9.39     0.27
and          178.00  179.00          1.00    27.17     0.79
BGM-15-090    47.30   48.15          0.85     8.00     0.23
BGM-15-090    86.50   90.00          3.50     6.48     0.19
incl.         86.50   87.70          1.20    13.04     0.38
incl.         86.50   87.00          0.50    18.80     0.55
and           87.00   87.70          0.70     8.92     0.26
BGM-15-090   117.00  126.00          9.00    13.21     0.39
incl.        118.00  119.00          1.00     9.35     0.27
and          119.00  119.55          0.55    26.50     0.77
and          121.20  126.00          4.80    18.32     0.53
incl.        124.00  125.00          1.00    62.38     1.82
and          125.00  126.00          1.00    11.48     0.33
BGM-15-091   134.25  135.30          1.05     3.36     0.10
BGM-15-092    44.00   45.35          1.35     5.20     0.15
BGM-15-092    76.56   77.95          1.39     3.02     0.09
BGM-15-092    93.54   94.50          0.96     3.57     0.10
BGM-15-092   138.00  139.50          1.50     3.44     0.10
BGM-15-092   172.25  176.70          4.45    17.00     0.50
incl.        173.40  175.70          2.30    31.44     0.92
incl.        174.40  175.70          1.30    51.87     1.51
BGM-15-093   105.20  107.00          1.80     1.64     0.05
BGM-15-094                                              NSA
BGM-15-095                                              NSA
BGM-15-096    20.35   22.50          2.15     3.87     0.11
BGM-15-096    90.50   92.00          1.50     1.80     0.05
BGM-15-096    97.50   98.60          1.10     3.54     0.10
BGM-15-096   103.50  108.50          5.00    10.17     0.30
incl.        103.50  105.50          2.00    21.85     0.64
incl.        103.50  104.50          1.00    20.30     0.59
and          104.50  105.50          1.00    23.40     0.68
BGM-15-097    86.00   87.00          1.00     9.42     0.27
BGM-15-097   125.50  143.50         18.00     5.27     0.15
incl.        125.50  131.20          5.70    13.37     0.39
incl.        125.50  126.50          1.00    24.86     0.73
and          127.50  128.50          1.00    12.63     0.37
and          129.50  130.50          1.00    15.25     0.44
BGM-15-098    41.50   42.60          1.10     6.72     0.20
BGM-15-098   164.60  165.90          1.30     7.18     0.21
BGM-15-098   168.90  171.10          2.20     7.27     0.21
BGM-15-099    92.00   94.00          2.00     5.39     0.16
BGM-15-099   110.40  111.90          1.50     6.36     0.19
BGM-15-100                                              NSA
BGM-15-101   114.00  114.50          0.50     1.57     0.05
BGM-15-102    16.50   19.00          2.50    22.48     0.66
BGM-15-102    18.00   19.00          1.00    51.16     1.49
BGM-15-102   163.50  164.00          0.50     3.32     0.10
BGM-15-103                                              NSA
BGM-15-104    57.00   57.70          0.70     2.27     0.07
BGM-15-105    65.00   66.85          1.85     3.57     0.10
BGM-15-106                                              NSA
BGM-15-107   320.00  321.30          1.30     1.11     0.03
BGM-15-108                                   Assays pending
BGM-15-109   215.45  219.50          4.05    11.23     0.33
incl.        215.45  217.30          1.85    23.51     0.69
incl.        215.45  216.05          0.60    28.50     0.83
and          216.55  217.30          0.75    34.80     1.02
BGM-15-109   404.50  414.70         10.20     3.56     0.10
incl.        411.90  414.70          2.80     8.99     0.26
incl.        412.80  413.90          1.10    10.70     0.31
and          413.90  414.70          0.80    14.50     0.42
BGM-15-110   442.50  447.50          5.00    10.03     0.29
incl.        442.50  443.50          1.00    13.60     0.40
and          443.50  444.50          1.00    19.30     0.56
and          446.50  447.50          1.00    10.20     0.30

We seek Safe Harbor.

Inovio Pharmaceuticals {NASDAQ: INO} announce that they will present at the prestigious Piper Jaffray Healthcare Conference.

CEO Joseph Kim will address the conference.

City Investors Circle confirm their next evening investor forum will occur this coming Thursday at 18.00 for 18.30.

There are two presentations – Full details and registration, please email  – rhea@city-investors-circle.com

We are delighted to be featuring two presenters for our final presentation of the, Simon Moores from Benchmark Minerals, and Don Bubar, CEO of Avalon Rare Metals {TSX: AVL}

As usual, we commence with welcome drinks from 18.00, and the presentations start at 18.30, and will finish by 19.30.

Once complete, we will serve a complimentary buffet and drinks until 21.00.

We look forward to welcoming you on Thursday.

Goldman Sachs analyst Jeffrey Currie suggest that the price of oil could potentially fall to $20 per barrel!

This will come as a wake up call to juniors developing projects as that price would make most production unsustainable.

It’s been a roller coaster year for oil prices!

Oil prices plunged from $100 in late 2014, recovered slightly in early summer, and since  then have nosedived downwards again, to around $44 per barrel for Brent crude,and $42 for WTI.

Currently, some experts think that oil could fall even lower, whilst others think we may already be at the bottom. Looking at the economic problems occurring in the world presently, I think it is entirely possible $40 will not hold as a support line, and oil may be priced in the 30’s very soon.

The catalyst for this could be increasing production in Iran, combined with economies around the world contracting at the same time. Unless OPEC agrees production cuts, and soon, a further fall looks inevitable in my opinion.

Goldman Sachs analyst Jeffrey Currie has released a note suggesting that the price of a barrel of oil could halve from where we are now, reaching as low as $20 per barrel.

Other peer analysts have different and more positive views on what may play out.

In a recent note to clients, Morgan Stanley’s Adam Longson shared a note showing how his research team sees the oil story playing out through 2018. “This is a supply-driven downturn, which typically take longer to resolve,” Longson wrote. “Most large price declines over the past 25 years were demand shocks, which can resolve relatively quickly. The current downturn is supply-driven, similar to 1986, although we don’t see a 10 year plus downturn.”

Longson and his team outlined four specific phases in this recovery:

• Today — mid 2016: oversupply, and oil recession. (Oil between $45 to $50.)
• Q4 2016: initial re-balancing and recovery. (Oil increasing from $60 to $65)
• Early 2017: recovery. (Oil around $75)
• 2018: normalisation. (Oil around $85)

When questioned about beyond  2018, Longson simply writes “?”  He added,  “Given long lead time projects, demand elasticity, and the lack of OPEC intervention, supply returns as demand slows causing another downturn.”

Looking at the state of the world’s major economies, with recession returning a very real possibility, Longson looks a bit of an optimist to me!

A whole tranche of junior exploration and development companies will be hoping he is right though!

Condor Gold {AIM: CNR} continues it slide downwards as the shareprice hit a new low on Friday.

The fall is looking precipitous, and with the company effectively up for sale,where is the catalyst to arrest the slide coming from?

AIM listed Condor Gold {AIM: CNR} has reached another low in an almost continual fall downwards.

Based in Nicaragua, with another  project suspended in El Salvador due to the current non mining stance of their government, Condor are looking to be in a dark place currently.

CEO Mark Child has effectively put the company up for sale, and with a >$100 million capex required, in this horrific market, you can understand why!

Of course anyone nurturing an interest can see what is happening with the shareprice, and quietly sit it out and wait for a cheaper price, with shareholders left holding the baby.  Not a good position to be in, and it is very difficult to see what Mark Child can do to reverse the slide.

Two of the recent RNS issued by the company had the reek of desperation about them, and sent the wrong signal to the market.

Now that gold has fallen well below $1,100 per ounce, that support has also been taken away from Condor, so it is incredibly difficult to see where any catalyst will come form at the moment.

Unless a bid comes out of the blue, I fear there won’t be any Xmas cheer for Condor holders this year.

Zenyatta Ventures Ltd. {TSX.V: ZEN} has updated the market in regard to their ongoing development programs.

In particular the benign high purity graphite from Albany is seen as being very compliant in the green energy space.

THUNDER BAY, ON – November 19, 2015) – Zenyatta Ventures Ltd. {TSX.V: ZEN} has announced the progress of ongoing programs related to global market and business development of high-purity Albany graphite for various applications.

Recently the Company received a new batch of purified graphite material produced at SGS Canada Inc. (‘SGS’) Lakefield site. This material, which graded 99.9% graphitic carbon, was delivered for testing to new interested parties who have recently  signed non-disclosure agreements (‘NDA’) for the purpose of carrying on discussions and due diligence evaluations.

Furthermore, the Company provided additional but larger product  samples to end-users already under NDA that have initially tested smaller samples and found Albany material to be suitable for their particular application. Discussions are progressing well with continuous dialogue and meetings scheduled over the next few weeks and months.

This initial and further testing by potential customers is designed to qualify the Albany graphite material for the following applications:

• lithium ion batteries
• fuel cells
• powder metallurgy
• nuclear
• graphene.

Zenyatta disclosed in a news release dated 12 February 2015 that first testing has shown the performance of Albany graphite to be in the range of anode materials used presently for Lithium-ion Batteries (‘LIB’). Also, on 19 May 2015, Zenyatta released positive results from initial testing at the National Research Council (‘NRC’) of Albany graphite samples for use in powder metallurgy (‘PM’) applications. More recently the Company announced results showing the Albany graphite material may be suitable for fuel cells and the production of graphene.

Dr. Bharat Chahar, VP Market Development of Zenyatta stated, “The recent work has produced additional high-purity graphite material which has been sent to various potential customers for testing and evaluation. Test work completed to date has confirmed the Albany graphite to have a very good crystal structure (hexagonal) with a very desirable purity and particle size for various applications. The Company expects to continue to produce a graphite product on a test basis with strict specifications based on feedback from interested end users under signed confidentiality agreement.”

The world trend is to develop new and improved products for technological applications that need extraordinary performance using ultra-high purity graphite powder at an affordable cost. High purity and highly crystalline graphite material is gaining prominence in the clean-tech sector at a time when Zenyatta discovered an extremely rare volcanic-hosted, fluid derived graphite deposit.

Analyses completed to date indicates that the Albany graphite deposit can be upgraded with very good crystallinity without the use of hydrofluoric acid and high temperature thermal treatment, therefore having an environmental advantage over other types of upgraded graphite material.

Large multi-national corporations strive to protect their image (public profile) especially in this environmentally conscious age. They are positioned as environmentally responsible companies and must remain so in this extremely competitive world. If raw materials, like graphite, are sourced from environmentally damaging processes or jurisdictions, it could seriously harm the company brand.

Dr. Chahar further stated, “The Company’s plan is to develop an environmentally benign purification process for its (benign) deposit. Given the feedback from potential strategic partners in the cleantech sector, this is a critical consideration.”

Marketing of the Albany high purity graphite material throughout Asia, Europe and North America continues under the leadership of Dr. Bharat Chahar and Mr. Tadashi Yamashita. Tadashi Yamashita has the responsibility for advancing marketing of the rare Albany graphite material throughout Asia. Mr. Yamashita is based in Tokyo, Japan and works closely with Zenyatta’s VP Market Development, Dr. Bharat Chahar. Generally, interested corporations are looking for large tonnage (long-life), high quality resources capable of producing a superior and consistent product in a politically stable jurisdiction.

The attractiveness of the Albany deposit has led to interest from numerous global corporations and academic institutions requesting Zenyatta’s high purity graphite material for testing in their own labs. The Company has thus far signed in excess of 35 confidentiality agreements with these parties to allow for continued dialogue, potential collaboration and sharing of data, which management expects will lead to a mutually agreeable arrangement.

Zenyatta continues to develop the Albany graphite deposit located in northeastern Ontario, Canada. The Company’s graphite deposit is located 30 km north of the Trans-Canada Highway, power line and natural gas pipeline near the communities of Constance Lake First Nation and Hearst. A rail line is located 70 km away with an all-weather road approximately 10 km from the graphite deposit.

The outlook for the global graphite market is very promising with demand growing rapidly from new applications. Graphite is now considered one of the more strategic elements by many leading industrial nations, particularly for its growing importance in high technology manufacturing and in the emerging “green” industries such as electric vehicle components.

The application for graphitic material is constantly evolving due to its unique chemical, electrical and thermal properties. It maintains its stability and strength under temperatures in excess of 3,000°C and is very resistant to chemical corrosion. It is also one of the lightest of all reinforcing elements and has high natural lubricating abilities. Some of these key physical and chemical properties make it critical to modern industry.

The metallurgical test work is being performed under the supervision of Alex Mezei, M.Sc., P.Eng., Director, Engineering Technical Services at SGS Lakefield, independent consultant to Zenyatta, and Peter Wood, P.Eng., P.Geo., VP Exploration of Zenyatta. Peter Wood and Alex Mezei are the Qualified Persons under National Instrument 43-101 who supervised the preparation of the scientific and technical information that forms the basis for the disclosure contained in this news release and they have reviewed and approved this news release. SGS performed analyses of all purified Albany graphite samples by direct ash analysis using a platinum crucible, according to a validated method that also accurately quantifies key trace level impurities by subsequent ICP analysis.

CAUTIONARY STATEMENT: The samples produced at SGS are experimental in nature and may differ slightly from batch to batch and may also differ from the final product in the future. However these samples are representative of the product that could be processed and provide a good initial assessment and guidance for the potential of Albany graphite for various applications. This testing does not represent a statistically large sample size. Furthermore, these positive results do not mean that Zenyatta can extract and process Albany graphite for applications on an economic basis. Without a formal independent feasibility study, there is no assurance that the operation will be economic.

To find out more on Zenyatta Ventures Ltd.

Visit the company website.click HERE

or

Tel. +1 807 346 1660.

CAUTIONARY STATEMENT: 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 news release may contain forward looking information and Zenyatta cautions readers that forward looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Zenyatta included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Zenyatta’s future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including the expected timing for release of a pre-feasibility study, the expected uses for graphite in the future, and the future uses of the graphite from Zenyatta’s Albany deposit. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of metallurgical processing, ongoing exploration, project development, reclamation and capital costs of Zenyatta’s mineral properties, and Zenyatta’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as, but are not limited to: failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the inability to identify target markets and satisfy the product criteria for such markets; the inability to complete a prefeasibility study; the inability to enter into offtake agreements with qualified purchasers; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in Zenyatta’s public documents filed on SEDAR. This list is not exhaustive of the factors that may affect any of Zenyatta’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta’s forward-looking statements. Although Zenyatta believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Zenyatta disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neometals {ASX: NMT}  Chairman David Reed issued a statement of support for the company, by converting his 2 million loan notes into shares of the company.

This tidies up the balance sheet, removing a liability at no direct financial cost to the company.

Comment.

Whilst prima facie this doesn’t look like a good deal for shareholders as the conversion price is so low, it is important to remember when the company was on its knees financially David Reed stepped up and invested his own money to stave off collapse.

At that point he was taking a huge risk with his personal capital, so it is only fair that after taking that risk, and investing his own time and effort in changing the focus and turning around the company, he reaps the reward now, in my opinion. 

The day he made the investment the shareholders breathed a sigh of relief as the future looked very dark, but the tunnel has been exited and this management team have delivered in spades.

The Reed family are fourth generation miners, and is a shining example that management quality is so important. 

Good management can run a bad project, but it ”t work the other way around, as many junior companies are illustrating in this poor market!

Issue of shares on conversion of convertible notes

Neometals Ltd {ASX: NMT}  has informed the market that its  Chairman, Mr David Reed has today elected to convert the 2,000,000 Convertible Notes he held into fully paid ordinary shares in the Company (Shares).

Mr David Reed has advised the Company that after recently completing a restructure of his personal affairs (as was announced to the ASX on 11 November 2015), he has no present intention to sell down any of his current Shareholding in the Company.

An Appendix 3B and a notice given under section 708A(5)(e) in respect of the issue of the Shares are attached.
—
Appendix 3B
Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities‌ and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Neometals Ltd

ABN

89 099 116 631

We (the entity) give ASX the following information.

Part 1 – All issues
You must complete the relevant sections (attach sheets if there is not enough space).

1

+Class of +securities issued or to be issued

Fully paid ordinary shares.

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

50,000,000

3

Principal terms of the

+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

+convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares.

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 1

Appendix 3B New issue announcement
4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

the date from which they do

the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes – the new shares will rank equally in all respects from the date of allotment with the fully paid ordinary shares in Neometals Ltd currently on issue.

5

Issue price or consideration

Nil cash consideration.

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Issue of shares on conversion of 2,000,000 convertible notes at a conversion price of

$0.04 per convertible note.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b – 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

No

6b

The date the security holder resolution under rule 7.1A was passed

N/A

6c

Number of +securities issued without security holder approval under rule 7.1

N/A

+ See chapter 19 for defined terms.

Appendix 3B Page 2 04/03/2013

+ See chapter 19 for defined terms.

6d

Number of +securities issued with security holder approval under rule 7.1A

N/A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

N/A

6f

Number of +securities issued under an exception in rule 7.2

N/A

6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A

6i

Calculate the entity’s remaining issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements

N/A

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

18 November 2015

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

559,039,983

Fully paid ordinary shares

Appendix 3B New issue announcement
04/03/2013 Appendix 3B Page 3

Scorpio Gold Corp. {TSX.V: SGN} reports final results from its 2015 exploration drilling program on the Oromonte satellite deposit at the 70% owned Mineral Ridge project, located in Nevada.
SCORPIO GOLD REPORTS FINAL RESULTS FROM 2015 EXPLORATION DRILLING AT THE OROMONTE SATELLITE DEPOSIT, MINERAL RIDGE PROJECT, NEVADA

VANCOUVER, BRITISH COLUMBIA –Scorpio Gold Corp. {TSX.V: SGN} reports final results from its 2015 exploration drilling program on the Oromonte satellite deposit at the 70% owned Mineral Ridge project, located in Nevada.

The Oromonte target occurs over a 300 x 500 meter area situated between the Solberry and Wedge deposits. A small mineral resource estimate containing almost entirely Indicated resources was reported for Oromonte based on 53 reverse circulation drill holes (see July 21, 2014 news release).

Drilling in 2014-2015 has intersected significant mineralisation at vertical depths ranging from near surface to 80 meters depth across the target area.  A notably higher-grade zone of mineralisation occurs along the western edge of the target area, ranging in vertical depth from 106 to 142 meters.

A geological interpretation of the mineralisation at Oromonte is that it represents a continuation of the mineralised horizon(s) between the Solberry and Wedge deposits that have been offset  by normal faulting. The occurrence of a higher-grade zone of mineralization at depth may be related to a synform axis, which concentrated mineralization in the Oromonte area. This mineralized zone was subsequently down-dropped by late-stage normal faulting. A generalized geological model of the mineralization is presented here: Oromonte Cross Section.

Although not accessible by open pit mining, the deeper mineralization at Oromonte may be amenable to underground extraction should further results support underground development. Historical underground workings occur in the Wedge deposit area approximately 180 meters to the east.

Highlights from the final phase of the 2015 RC drilling program on the Oromonte deposit include:
— MR151671: 2.13 grams per tonne (“g/t”) gold over 3.05 meters
— MR151674: 5.18 g/t gold over 3.05 meters
— MR151677: 8.28 g/t gold over 6.10 meters
— MR151773: 7.58 g/t gold over 1.52 meters
— MR151777: 8.58 g/t gold over 6.10 meters
— MR151778: 7.95 g/t gold over 9.14 meters
— MR151779: 2.85 g/t gold over 3.05 meters
— MR151802: 40.40 g/t gold over 7.62 meters
— MR151804: 2.22 g/t gold over 4.57 meters
— MR151809: 12.29 g/t gold over 4.57 meters
— MR151810: 2.58 g/t gold over 4.57 meters
— MR151885: 39.15 g/t gold over 1.52 meters
— MR151887: 2.83 g/t gold over 3.05 meters

A drill hole location map is available on the company website.

Table 1. Oromonte Deposit – Significant Drill Results
—————————————————————————-
Hole Azm Dip From To Width From To Width Gold Gold
No. (deg) (deg) (ft) (ft) (ft) (m) (m) (m) (OPT) (g/t)
—————————————————————————-
MR151671 0 -90 220 230 10 67.06 70.10 3.05 0.062 2.13
—————————————————————————-
245 250 5 74.68 76.20 1.52 0.018 0.60
—————————————————————————-
255 260 5 77.72 79.25 1.52 0.022 0.77
—————————————————————————-
MR151672-673 0 -90 No Significant Results
—————————————————————————-
MR151674 0 -90 5 10 5 1.52 3.05 1.52 0.018 0.62
—————————————————————————-
165 175 10 50.29 53.34 3.05 0.151 5.18
—————————————————————————-
200 205 5 60.96 62.48 1.52 0.022 0.76
—————————————————————————-
245 250 5 74.68 76.20 1.52 0.030 1.03
—————————————————————————-
MR151675 0 -90 20 35 15 6.10 10.67 4.57 0.050 1.70
—————————————————————————-
110 130 20 33.53 39.62 6.10 0.033 1.14
—————————————————————————-
MR151676 0 -90 100 105 5 30.48 32.00 1.52 0.035 1.19
—————————————————————————-
MR151677 0 -90 30 35 5 9.14 10.67 1.52 0.031 1.06
—————————————————————————-
65 85 20 19.81 25.91 6.10 0.242 8.28
—————————————————————————-
incl 70 75 5 21.34 22.86 1.52 0.888 30.45
—————————————————————————-
MR151679 0 -90 5 10 5 1.52 3.05 1.52 0.028 0.96
—————————————————————————-
MR151680 0 -90 160 165 5 48.77 50.29 1.52 0.015 0.51
—————————————————————————-
MR151771 0 -90 290 295 5 88.39 89.92 1.52 0.131 4.49
—————————————————————————-
325 330 5 99.06 100.58 1.52 0.018 0.62
—————————————————————————-
MR151772 0 -90 215 225 10 65.53 68.58 3.05 0.036 1.22
—————————————————————————-
320 325 5 97.54 99.06 1.52 0.045 1.54
—————————————————————————-
MR151773 0 -90 245 250 5 74.68 76.20 1.52 0.221 7.58
—————————————————————————-
375 380 5 114.30 115.82 1.52 0.016 0.55
—————————————————————————-
MR151774 0 -90 10 15 5 3.05 4.57 1.52 0.015 0.51
—————————————————————————-
MR151775 0 -90 35 40 5 10.67 12.19 1.52 0.100 3.43
—————————————————————————-
130 135 5 39.62 41.15 1.52 0.018 0.62
—————————————————————————-
230 235 5 70.10 71.63 1.52 0.032 1.10
—————————————————————————-
260 265 5 79.25 80.77 1.52 0.030 1.03
—————————————————————————-
MR151776 0 -90 305 315 10 92.96 96.01 3.05 0.016 0.53
—————————————————————————-
MR151777 0 -90 380 385 5 115.82 117.35 1.52 0.022 0.75
—————————————————————————-
400 410 10 121.92 124.97 3.05 0.062 2.11
—————————————————————————-
445 465 20 135.64 141.73 6.10 0.250 8.58
—————————————————————————-
incl 445 450 5 135.64 137.16 1.52 0.503 17.25
—————————————————————————-
480 485 5 146.30 147.83 1.52 0.019 0.65
—————————————————————————-
MR151778 0 -90 190 200 10 57.91 60.96 3.05 0.025 0.86
—————————————————————————-
330 340 10 100.58 103.63 3.05 0.260 8.90
—————————————————————————-
385 400 15 117.35 121.92 4.57 0.022 0.74
—————————————————————————-
405 435 30 123.44 132.59 9.14 0.232 7.95
—————————————————————————-
incl 410 420 10 124.97 128.02 3.05 0.582 19.95
—————————————————————————-
495 500 5 150.88 152.40 1.52 0.017 0.58
—————————————————————————-
MR151779 0 -90 80 85 5 24.38 25.91 1.52 0.020 0.69
—————————————————————————-
190 195 5 57.91 59.44 1.52 0.045 1.54
—————————————————————————-
440 450 10 134.11 137.16 3.05 0.083 2.85
—————————————————————————-
MR151780 0 -90 185 190 5 56.39 57.91 1.52 0.032 1.10
—————————————————————————-
275 285 10 83.82 86.87 3.05 0.031 1.05
—————————————————————————-
300 305 5 91.44 92.96 1.52 0.020 0.69
—————————————————————————-
MR151801 0 -90 95 100 5 28.96 30.48 1.52 0.034 1.17
—————————————————————————-
200 225 25 60.96 68.58 7.62 0.014 0.49
—————————————————————————-
255 260 5 77.72 79.25 1.52 0.019 0.65
—————————————————————————-
335 340 5 102.11 103.63 1.52 0.033 1.13
—————————————————————————-
350 360 10 106.68 109.73 3.05 0.016 0.53
—————————————————————————-
375 395 20 114.30 120.40 6.10 0.052 1.77
—————————————————————————-
MR151802 0 -90 205 215 10 62.48 65.53 3.05 0.024 0.82
—————————————————————————-
270 275 5 82.30 83.82 1.52 0.016 0.55
—————————————————————————-
310 315 5 94.49 96.01 1.52 0.068 2.33
—————————————————————————-
370 375 5 112.78 114.30 1.52 0.038 1.30
—————————————————————————-
420 445 25 128.02 135.64 7.62 1.178 40.40
—————————————————————————-
incl 420 430 10 128.02 131.06 3.05 2.799 95.97
—————————————————————————-
MR151803 0 -90 55 60 5 16.76 18.29 1.52 0.024 0.82
—————————————————————————-
365 370 5 111.25 112.78 1.52 0.024 0.82
—————————————————————————-
400 405 5 121.92 123.44 1.52 0.019 0.65
—————————————————————————-
MR151804 0 -90 60 65 5 18.29 19.81 1.52 0.033 1.13
—————————————————————————-
250 265 15 76.20 80.77 4.57 0.065 2.22
—————————————————————————-
MR151806 0 -90 255 260 5 77.72 79.25 1.52 0.030 1.03
—————————————————————————-
MR151807 0 -90 50 55 5 15.24 16.76 1.52 0.130 4.46
—————————————————————————-
120 125 5 36.58 38.10 1.52 0.016 0.55
—————————————————————————-
205 210 5 62.48 64.01 1.52 0.049 1.68
—————————————————————————-
220 230 10 67.06 70.10 3.05 0.015 0.50
—————————————————————————-
MR151809 0 -90 5 20 15 1.52 6.10 4.57 0.015 0.51
—————————————————————————-
145 160 15 44.20 48.77 4.57 0.358 12.29
—————————————————————————-
incl 145 150 5 44.20 45.72 1.52 1.034 35.45
—————————————————————————-
MR151810 0 -90 155 170 15 47.24 51.82 4.57 0.075 2.58
—————————————————————————-
180 190 10 54.86 57.91 3.05 0.021 0.72
—————————————————————————-
MR151864 0 -90 No Significant Results
—————————————————————————-
MR151865 0 -90 15 25 10 4.57 7.62 3.05 0.034 1.15
—————————————————————————-
85 100 15 25.91 30.48 4.57 0.027 0.94
—————————————————————————-
120 135 15 36.58 41.15 4.57 0.057 1.95
—————————————————————————-
MR151867 0 -90 No Significant Results
—————————————————————————-
MR151870 0 -90 20 25 5 6.10 7.62 1.52 0.015 0.51
—————————————————————————-
55 65 10 16.76 19.81 3.05 0.018 0.63
—————————————————————————-
MR151871 0 -90 65 70 5 19.81 21.34 1.52 0.017 0.58
—————————————————————————-
MR151874 0 -90 75 85 10 22.86 25.91 3.05 0.023 0.77
—————————————————————————-
100 120 20 30.48 36.58 6.10 0.022 0.74
—————————————————————————-
MR151876 0 -90 150 155 5 45.72 47.24 1.52 0.108 3.70
—————————————————————————-
190 195 5 57.91 59.44 1.52 0.028 0.96
—————————————————————————-
MR151877 0 -90 75 80 5 22.86 24.38 1.52 0.020 0.69
—————————————————————————-
135 140 5 41.15 42.67 1.52 0.016 0.55
—————————————————————————-
230 235 5 70.10 71.63 1.52 0.056 1.92
—————————————————————————-
MR151878 0 -90 195 200 5 59.44 60.96 1.52 0.039 1.34
—————————————————————————-
205 210 5 62.48 64.01 1.52 0.017 0.58
—————————————————————————-
MR151880 0 -90 185 190 5 56.39 57.91 1.52 0.014 0.48
—————————————————————————-
245 250 5 74.68 76.20 1.52 0.033 1.13
—————————————————————————-
MR151882 0 -90 15 20 5 4.57 6.10 1.52 0.027 0.93
—————————————————————————-
MR151885 0 -90 240 245 5 73.15 74.68 1.52 1.142 39.15
—————————————————————————-
MR151886 0 -90 240 245 5 73.15 74.68 1.52 0.066 2.26
—————————————————————————-
MR151887 0 -90 115 120 5 35.05 36.58 1.52 0.024 0.82
—————————————————————————-
190 200 10 57.91 60.96 3.05 0.083 2.83
—————————————————————————-
MR151889 0 -90 75 90 15 22.86 27.43 4.57 0.014 0.49
—————————————————————————-
240 245 5 73.15 74.68 1.52 0.017 0.58
—————————————————————————-
MR151892 0 -90 180 185 5 54.86 56.39 1.52 0.039 1.34
—————————————————————————-
MR151894 0 -90 330 335 5 100.58 102.11 1.52 0.014 0.48
—————————————————————————-

All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 80-100% of downhole width. Analytical results for the RC holes  were performed by American Assay Laboratory Inc. in Sparks, Nevada, an ISO/IEC 17025:2005 accredited facility. External check assays to verify lab accuracy are routinely completed by ALS Chemex in Reno, Nevada, also an ISO/IEC 17025:2005 accredited facility. Further details are presented in the Company’s quality assurance and quality control program for the Mineral Ridge project, available at: MR QAQC.

About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%). Mineral Ridge is a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted immediately when needed.

Scorpio Gold’s President & CEO, Peter J. Hawley, P.Geo., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Peter J. Hawley, President & CEO

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.

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration, development and exploitation of its Mineral Ridge project, including potential further exploration or development of the Oromonte deposit. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration and development programs, risks related to differences between mineral reserve and resource estimates and actual operating results and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

Contact:
Peter J. Hawley, President & CEO
Tel: +1 819 825 7618
Email: phawley@scorpiogold.com

Avalon Rare Metals {TSX: AVL} are the subject of a new research report published by RB Milestone Group, focusing on their Separation Rapids high purity  lithium project in Ontario, Canada.

Milestone are a respected market intelligence and research house based in NY, USA.

Avalon’s new high purity lithium project featured in new research report.

Avalon Rare Metals {TSX: AVL} have been featured in a research report written by the US based and highly respected RB Milestone Group.

The Separation Rapids Project was acquired by Avalon recently,and is looking like the right project at the right time, and an astute move by Don Bubar. Global demand for lithium increased 80% in the five years needed 2014, and that looks set to increase as modern technology demands continue to grow.

The world demand for high purity lithium is growing exponentially, and as a result, new mines will be required in order to sate this increasing demand. The prime driver is the increasing use of lithium-ion batteries in modern technology, from mobile phones to laptops and tablets, and coming soon, huge demand for electric car batteries and domestic power walls.

To access the Milestone research report CLICK HERE

Storedot, the Israel based developer of rapid charging mobile phone batteries utilising an organic compound, now has a rival.

Hauwei, the Chinese based mobile phone manufacturer has announced a new lithium-ion battery that can be half-charged n five minutes.

Storedot technology faces a challenge

Chinese smartphone manufacturer Huawei has announced a new version of the lithium-ion battery, that charges to 50% of capacity in just five minutes. This is a rival to the recently announced storedot organic compound battery, that recharges in 30 seconds.
Other companies such as Asus and Samsung have similar functionality, but often to the detriment to the battery’s lifespan or capacity.
Huawei’s battery apparently utilises graphite atoms coating the anode, which preserves the battery itself whilst charging, and is, as a result, much quicker. The company exhibited two battery prototypes at a conference in Japan. The first prototype has a capacity of 3000 milliampere-hours, similar to the standard smartphone, and charges to half capacity in five minutes.

Advanced consumer electronic devices such as the smartphone are tablets are power hungry, and their development is advancing at a faster rate then the batteries required to power them, which are relatively old tech, creating a headache for the industry.

So this developemtent is a rival to Storedot’s new technology for sure, but not quite the the finished article yet.

A further drawback is that Huawei’ quick-charge batteries need a special charging platform that needs to be carried around in addition to the charger.

Avalon Rare Metals {TSX: AVL} have announced a series of conference and investor presentation dates in November.

CEO Don Bubar will be presenting in Chicago and Napa in the USA and London, UK during his tour.

Avalon Rare Metals announce conference participation and investor presentation dates during November 2015.

CEO Don Bubar will be presenting at conferences in Chicago, then Napa in California, before finishing his tour in the United Kingdom, at the London Tin Seminar, and the City Investors Circle investor forum.

The presentations will focus on Avalon’s Separation Rapids Lithium Project and also their East Kemptville Tin-Indium Project.

Full event details can be found by clicking HERE

Cartier Resources Inc. {TSX.V: ECR} has commenced geophysical and geometric surveys on their MacCormack property.

This is situated NW of La Ronde in Quebec, Canada.

Cartier Starts Geophysical Surveys at MacCormack

VAL-D’OR, QUEBEC- Cartier Resources Inc. {TSX.V: ECR} announces that it has begun geophysical OreVision and magnetometer surveys on their MacCormack Property, situated 25 km north-north west of the Bousquet – LaRonde mining camp infrastructures, in Quebec.. The surveys follow positive  results of the calibration test line with OreVision technology completed on one line over the MacDeroff massive sulphide showing, and MacCormack gold showing.
The objective of these surveys is to locate, along the favourable zones known on the property, new geophysical anomalies similar to that of the known mineralisation. The surveys will be conducted over a line cut grid of  40 km, covering an area of 2 km by 3 km. The OreVision technology will search this area for deposits up to a depth of 600 m.
The occurrence of zinc-rich volcanogenic massive sulphide mineralisation on the property demonstrates the areas potential to generate these types of deposits. Furthermore, the favourable horizon that contains the mineralisation has been recognized over a distance of 7 km.
Philippe Cloutier, President and CEO, commented: “we have the advantage of having known mineralisation near surface with an innovative deep searching geophysical method that could lead to new discoveries on the property“.
Quality Assurance / Quality Control
The scientific and/or technical information presented in this press release  has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo.,  Ph. D., and Vice President for Cartier. Mr. Lavallière is a qualified person as defined by National Instrument 43-101.
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.
CONTACT INFORMATION

Philippe Cloutier, P.Geo., President and CEO
+1 819 856 512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Barkerville Gold {TSX.V: BGM} has reported high grade gold results from the BC Vein on Barkerville Mountain.

These included some impressive intersections in an area noted for high grade gold.

Neometals Ltd {ASX: NMT} and Mineral Resources Limited {ASX: MIN} have announced the commencement of a DFS study on their patented ELi process to produce lithium hydroxide from spodumene.

Completion is due June 2016.

Neometals Ltd {ASX: NMT} and Mineral Resources Limited {ASX: MIN} are pleased to announce the commencement of a Definitive Feasibility Study on their patented ELi Process, to produce 20,000 tonnes per annum of battery grade Lithium Hydroxide
directly from spodumene (lithium oxide) concentrates.

All downstream lithium processing technology and patents associated with the Eli Process are owned by Reed Advanced Materials Pty Ltd (“RAM”), which is beneficially owned 70:30 by the Company and Min Res.

Neometals and MIN as equity holders in the Mt Marion Lithium Project are entitle to purchase up to 51% of lithium concentrates produced from the Mt Marion Lithium Project after the third year of production.

A Pre-feasibility Study conducted in 2012 demonstrated the potential for the ELi Process to deliver industry leading operating costs (US$3,877/t LiOH) and robust financial returns (NPV 12% US$321 M and IRR 94%). The DFS will incorporate the results of a semi-pilot scale test work program conducted by a specialist chlor-alkali laboratory in Buffalo, USA in 2014.

The semi-pilot plant exceeded expectations in the purification of lithium chloride solutions and current efficiency across the electrolysis membrane, exceeding assumptions in the Pre-feasibility study (“PFS”).

The DFS is expected to be completed in the June quarter 2016.

The full announcement can be downloaded here: http://www.neometals.com.au/reports/622-lithium-hydroxide-dfs-commencement.pdf

Inovio Pharmaceuticals {NASDAQ: INO} have released their Q3 results.

Total revenue for the 9 month period increased 300% Year on year, driven by some government funded projects for MERS and Ebola vaccine projects.

Inovio Pharmaceuticals Reports 2015 Third Quarter Results

PLYMOUTH MEETING, PA – November 9, 2015 – Inovio Pharmaceuticals Inc. {NASDAQ: INO} today reported financial results for the quarter ended September 30, 2015.

Total revenue was $24.2 million and $34.6 million for the three and nine months ended September 30, 2015, compared to $1.8 million and $8.0 million for the same periods in 2014.

Total operating expenses were $20.5 million and $54.4 million for the three and nine months ended September 30, 2015, compared to $10.2 million and $36.5 million for the same periods in 2014.

The net income (loss) attributable to common stockholders for the three and nine months ended September 30, 2015, was $5.6 million, or $0.08 per share, and $(11.2 million), or $(0.17) per share, compared to $(7.2 million), or $(0.12) per share, and $(28.7 million), or $(0.49) per share, for the same periods in 2014.

Revenue

The increase in revenue for the comparable periods was primarily due to development payments from our DARPA Ebola grant as well as $15.0 million of revenue recognized in the third quarter 2015 from the up-front payment received from our partnership agreement with MedImmune. Accounting recognition of the remainder of the $27.5 million upfront payment has been deferred and will be triggered by future events.

The net income achieved during the third quarter was attributable to the increase in revenue and may not be reflective of future quarters.

Operating Expenses

Research and development expenses for the three and nine months ended September 30, 2015, were $16.1 million and $42.2 million, compared to $7.0 million and $24.9 million for the same periods in 2014. The increase for the three and nine month periods was primarily related to increased investment in our product development programs. General and administrative expenses for the three and nine months ended September 30, 2015, were $4.4 million and $13.2 million versus $3.2 million and $11.6 million for the same periods in 2014.

Capital Resources

As of September 30, 2015, cash and short-term investments were $170.8 million compared with $93.6 million as of December 31, 2014. At quarter end the company had 72.2 million shares outstanding and 78.9 million fully diluted.

Inovio’s balance sheet and statement of operations are provided below. Form 10-Q providing the complete 2015 third quarter financial report can be found at: http://ir.inovio.com/secfilings.

Corporate Update

Corporate Development

On August 7, 2015, Inovio entered into a strategic cancer vaccine collaboration and license agreement with MedImmune, the global biologics research and development arm of AstraZeneca. MedImmune acquired exclusive rights to Inovio’s INO-3112 immunotherapy, which targets cancers caused by human papillomavirus (HPV) types 16 and 18. MedImmune intends to study INO-3112 in combination with selected immunotherapy molecules within its pipeline in HPV-driven cancers. Emerging evidence suggests that the benefits from immuno-oncology molecules, such as those in MedImmune’s portfolio, can be enhanced when they are used in combination with cancer vaccines that generate tumor-specific T-cells.

MedImmune paid Inovio $27.5 million in the third quarter and will make potential future payments totaling up to $700 million upon reaching development and commercial milestones. MedImmune will fund all development costs. Inovio is entitled to receive up to double-digit tiered royalties on INO-3112 product sales.

Inovio and MedImmune will also develop two additional DNA-based cancer vaccine products not included in Inovio’s current product pipeline, which MedImmune will have the exclusive rights to develop and commercialize. Inovio will be eligible to receive development, regulatory and commercialization milestone payments and royalties on net sales for these cancer vaccines.

This is the second major pharmaceutical partnership for Inovio’s DNA-based immunotherapy technology, adding to its existing license agreement with Roche for the INO-1800 hepatitis B immunotherapy.

Inovio initiated a partnership with the European Organization for Research and Treatment of Cancer to evaluate INO-3112 in combination with traditional chemo-radiotherapy for the treatment of patients with locally advanced stage cervical cancer. The primary endpoint of this phase II study is to evaluate progression free survival at 18 months. It is expected to begin in 2016 and will be part of MedImmune’s development plans.

Inovio and collaborators are advancing multiple treatment and prevention approaches against Ebola. Inovio received an initial $20 million award from the Defense Advanced Research Projects Agency (DARPA). In September, DARPA awarded Inovio an additional $25 million for the successful completion of pre-clinical and clinical development milestones. This funding supports the development of a DNA-based vaccine, a therapeutic DNA-based monoclonal antibody treatment (dMAb™), and a conventional monoclonal antibody treatment. Inovio has completed enrollment of 75 healthy subjects in a phase I study of the Ebola DNA vaccine.

Clinical Development

Inovio’s manuscript detailing the broad study findings of its phase II study of VGX-3100 in patients with high-grade cervical dysplasia (CIN 2/3) was published in The Lancet, a top peer-reviewed medical journal. This publication describes that VGX-3100, a first-in-class product for treating high grade cervical neoplasia associated with HPV, is the first therapy to demonstrate that activated killer T cells induced in the body have the power to clear neoplastic lesions as well as the virus which caused the disease. These findings provide proof of principle not only for this disease indication but for the broad utility of Inovio’s technology across cancers and infectious diseases.

Results of the trial were reported in the article entitled, “Safety, efficacy, and immunogenicity of VGX-3100, a therapeutic synthetic DNA vaccine targeting human papillomavirus 16 and 18 E6 and E7 proteins for cervical intraepithelial neoplasia 2/3: a randomized, double-blind, placebo-controlled phase 2b trial.”

Inovio continues to make preparations to launch a phase III registration study of VGX-3100 in 2016. Necessary steps include scaling to commercial-level production of its immunotherapy product and delivery devices. The company expects its end-of-phase-II meeting with the FDA, which will review Inovio’s phase II data and proposed phase III clinical trial design, to take place in early 2016.

Inovio launched a phase I study of INO-5150, its SynCon® immunotherapy targeting prostate-specific membrane antigen and prostate-specific antigen, in men with biochemically relapsed prostate cancer. This study is evaluating the safety, tolerability, and immunogenicity of INO-5150 alone or in combination with Inovio’s DNA-based IL-12 immune activator. The company expects to report interim data from this study in 2016.

The first patient was dosed in Inovio’s phase I trial to evaluate safety and tolerability of PENNVAX®-GP, the company’s “universal” DNA vaccine for HIV. The trial will measure immune responses following administration of the vaccine in four groups of healthy subjects receiving the vaccine with and without an immune activator (DNA IL-12) and delivered into muscle or skin using Inovio’s CELLECTRA® delivery technology. This 94-patient study is being conducted by the HIV Vaccines Trial Network (HVTN) and funded by the National Institute of Allergy and Infectious Diseases (NIAID).

Inovio’s partner for its DNA vaccine for Middle East Respiratory Syndrome (MERS), GeneOne Life Science Inc., filed an Investigational New Drug Application (IND) for GLS-5300 with the United States Food and Drug Administration in October and intends to launch a clinical trial in healthy volunteers by the year end.

 
About Inovio Pharmaceuticals, Inc.

Inovio is taking immunotherapy to the next level in the fight against cancer and infectious diseases. We are the only immunotherapy company that is generating T cells in vivo in high quantity that are fully functional and whose killing capacity correlates with relevant clinical outcomes with a favorable safety profile. With an expanding portfolio of immune therapies, the company is advancing a growing preclinical and clinical stage product pipeline. Partners and collaborators include MedImmune, Roche, University of Pennsylvania, DARPA, GeneOne Life Science, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and University of Manitoba.

For more information, www.inovio.com.
CONTACT:
Bernie Hertel
Inovio Pharmaceuticals
+1 858-410-3101
bhertel@inovio.com

* * *

This press release contains certain forward-looking statements relating to our business, including our plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines, our expectations regarding our research and development programs and our capital resources. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs (including, but not limited to, the fact that pre-clinical and clinical results referenced in this release may not be indicative of results achievable in other trials or for other indications, that the studies or trials may not be successful or achieve the results desired, including safety and efficacy for VGX-3100 and INO-3112, that pre-clinical studies and clinical trials may not commence or be completed in the time periods anticipated, that results from one study may not necessarily be reflected or supported by the results of other similar studies and that results from an animal study may not be indicative of results achievable in human studies), the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA vaccines, our ability to support our broad pipeline of SynCon® active immune therapy and vaccine products, our ability to advance our portfolio of immune-oncology products independently, the ability of our collaborators to attain development and commercial milestones for products we license and product sales that will enable us to receive future payments and royalties, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by the company or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that the company and its collaborators hope to develop, our ability to enter into partnerships in conjunction with our research and development programs, evaluation of potential opportunities, issues involving product liability, issues involving patents and whether they or licenses to them will provide the company with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether the company can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of the company’s technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2014, our Form 10-Q for the quarter ended September 30, 2015, and other regulatory filings from time to time. There can be no assurance that any product in Inovio’s pipeline will be successfully developed or manufactured, that final results of clinical studies will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate.