AuMEGA Metals

It’s been a busy year of newsflow for AuMEGA Metals. 2024 saw the Company advance its Cape Ray Shear Zone and Hermitage #gold projects in Newfoundland, Canada with it's comprehensive #exploration program. #AAM would like to thank all our shareholders and stakeholders for your support over the year and we look forward to generating further value in 2025. #AumegaMetals #ASX #TSXV #AUM

via Proactive AuMEGA Metals has closed the second tranche of private placement financing to institutional, professional and accredited investors for aggregate gross proceeds of C$7.3 million. The second tranche will involve the issue of 128,035,776 ordinary shares, including 65,236,111 ‘hard-dollar’ shares at a price of C$0.050/A$0.054 per share with the remainder being flow through shares. This component comprises 34,299,666 traditional flow through shares at C$0.06/A$0.065 per share and 28.5 million premium flow through shares at a premium flow through price of C$0.06825/A$0.07408 per share. Read more: https://loom.ly/85Le19E #TSXV #AUM #ASX #AMM

#ASXNews AuMEGA Metals is pleased to announce the closing of the second and final closing of its previously announced financing following shareholder approval at the Company’s Special Shareholder Meeting on 4 December 2024. Under the Tranche Two Placement, the Company issued an aggregate of 128,035,776 ordinary shares to institutional, professional and accredited investors for aggregate gross proceeds of C$7.3 million, consisting of: • Hard Dollars: 65,236,111 New Shares at a price of C$0.050/A$0.054 per share; and • Flow Through: Constituting as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) as follows: o Traditional Flow Through: 34,299,666 New Shares at a price of C$0.06/A$0.065 per share o Premium Flow Through: 28,500,000 New Shares at a premium flow through price of at a price of C$0.06825/A$0.07408 per share. The Tranche Two Placement was in addition to the previously announced first tranche closing (the “Tranche One Placement”, together with the Tranche Two Placement, the “Offering”), whereby the Company issued 131,152,889 ordinary shares to institutional, professional and accredited investors for aggregate gross proceeds of C$8.77 million. Certain directors and officers of the Company participated in the Tranche Two Placement and subscribed for an aggregate of 1,366,666 ordinary shares, making it a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation per section 5.5(a) of MI 61-101, and minority shareholder approval requirements per section 5.7(1)(a) of MI 61-101, as neither the fair market value of any shares issued to or the consideration paid by such insiders exceeds 25 percent of the Company's market capitalisation. The Company filed a material change report more than 21 days before the date of the Tranche Two Placement closing. The proceeds from the Financing will be used primarily to advance the Company’s exploration program in Newfoundland and Labrador, which is expected to include the Company’s largest drill program in the last three years of up to 20,000 metres with an aim to grow the existing Mineral Resource and discovery at the highly prospective Bunker Hill Project. Additionally, the Company will continue to invest in early stage exploration activities to further define and advance new and existing targets at Hermitage and Malachite. Finally, proceeds from the Financing will also be used for working capital and general corporate purposes. View the Announcement: https://loom.ly/aHsy0JE #AuMEGAMetals #MiningNews #ASX #TSXV

The Hermitage Project was the first regional target identified by AuMEGA Metals off the main Cape Ray Shear Zone. The Company identified this region as being highly prospective for gold exploration following a review of targets in Newfoundland that have strong exploration potential, however, have been neglected historically. Hermitage Key Aspects: • Largest arsenic & antimony anomaly in Newfoundland with confirmed association with #gold. • Limited #exploration to-date has yielded significant results that support Hermitage’s big potential. • The Company has been advancing high-priority, highly prospective targets for future #drilling. Discover more from #AAM: https://loom.ly/_dOlEdU #ASX #TSXV #AUM #mining

During the summer field season, AuMEGA Metals completed a small, reconnaissance-style diamond drill program to test geochemical targets along three interpreted splays identified from the 2024 winter RC BOH survey. The diamond drill program included five drillholes for approximately 1,100m combined. Diamond hole CRD385 returned peak values of 0.33 g/t #gold, 3.93 g/t #silver, 2,157 ppm #lead and 873 ppm zinc over 0.91 metres. The Malachite area displays significant structural complexity and exploration work-to-date, including limited diamond drilling, has confirmed the presence of gold and #copper associated with clear evidence of hydrothermal fluid activity and large geochemical signatures. See more: https://loom.ly/Qm0OKA0 #AUM #TSXV #AAM #ASX #exploration

During the Canadian fall of 2024, AuMEGA Metals completed a limited till program over the Bunker Hill West area located along the Cape Ray Shear Zone in Newfoundland and Labrador, Canada. The Bunker Hill West till survey centred over a cluster of historical high-grade outcropping samples that graded 18.67 g/t #gold and 12.25 g/t gold. The recent till survey results returned peak gold values of 148 ppb and 94 ppb. Importantly, the results revealed a large, multi-station anomaly located 270 metres from historic high-grade outcrop and float samples, proximal to a major fault cutting through the CRSZ and trending to the northeast. Learn more: https://loom.ly/Qm0OKA0 #AAM #ASX #AUM #TSXV #exploration

AuMEGA Metals' Bunker Hill project located along the Cape Ray Shear Zone in Newfoundland and Labrador, Canada is an expansive area with limited historic #exploration work with indicators of intrusive mineralisation. A recent high-resolution airborne magnetic survey reveals significant geological complexity across the entire 25-km strike length of Bunker Hill with data materially changing the Company’s understanding of the prospective area. Encouraging high grade outcropping samples of 17% and 12% #copper were recently returned from Bunker Hill confirming high grade copper mineralisation. More recently, #AAM's till survey has delivered significant gold-in-till anomalies including 148 ppb and 94 ppb #gold, nearly 40 times the crustal abundance level. Discover more: https://loom.ly/_dOlEdU #AuMEGAMetals #ASX #TSXV #AUM

via Grafa AuMEGA Metals reported results from recent #exploration efforts at Bunker Hill and Malachite, both situated along Newfoundland's Cape Ray Shear Zone. The limited till program at Bunker Hill West revealed substantial gold-in-till anomalies, with #gold values of 148 ppb and 94 ppb, vastly exceeding crustal abundance levels. The potential gold hotspots correlate with complex structural features identified through recent airborne magnetic surveys. Read more: https://loom.ly/CNJDm1c #AAM #ASX #AUM #TSXV

#ASXNews AuMEGA Metals announces results from the remaining assays related to the Bunker Hill till survey and the reconnaissance-style diamond drill program at Malachite, both located along the Cape Ray Shear Zone (“CRSZ”) in Newfoundland and Labrador, Canada. • Limited till program at Bunker Hill West delivered significant #gold-in-till anomalies including 148 ppb and 94 ppb gold, nearly 40 times the crustal abundance level. • Gold-in-till anomalism at Bunker Hill represents a large geochemical footprint surrounding historical outcrop samples grading upwards of 18.67g/t gold, 35.3g/t #silver and 4.2% #lead. • Gold-in-till anomalism at Bunker Hill correlates with significant structural complexity revealed from recent high-resolution airborne magnetic surveys. • Results from limited reconnaissance diamond #drilling at Malachite confirmed further gold and #copper mineralisation in bedrock. • Planning for 2025 #exploration program expected to include largest drill program in the last three years. #AAM Managing Director and CEO, Sam Pazuki commented: “...The bottom line is that we have a massive land package along a major gold structure that already hosts our own mineral resources as well as Calibre’s five million ounces at the Valentine Project. In my experience, large deposits in greenstone belts are rarely “one-offs”, but rather they are one of multiple deposits hosted in a belt. We are well positioned with our landholdings to identify and discover areas with the potential to host other multi-million-ounce gold deposits. With our recent confirmation of high-grade copper in outcrop, we also believe there is significant potential for intrusive-related copper discoveries. We have used our bestin-class exploration techniques to test areas, identify new targets and advance projects forward. Bunker Hill is a prime example of one of these projects where we have allocated limited capital to-date but have advanced it to the stage where substantial drilling is now confidently justified.” See the full announcement: https://loom.ly/BuhcX5s #AuMEGAMetals #ASX #TSXV #AUM #MiningNews

AuMEGA Metals holds a district-scale land package with several projects located along the highly prospective, yet under explored Cape Ray Shear Zone (“CRSZ”) in Newfoundland, Canada. The Company hosts a current mineral resource of 610,000 ounces of gold grading 1.96 g/t gold predominately in the Cape Ray Project. The Hermitage Project was the first regional target identified by the Company off the main Cape Ray Shear Zone. The Company identified this region as being highly prospective for gold exploration following a review of targets in Newfoundland that have strong exploration potential, however, have been neglected historically. In May 2024, AuMEGA entered into a low cost Option Agreement to acquire the Blue Cove Copper Project, an early-stage, copper ± lead, zinc and silver exploration project with samples that graded up to 10.6% #copper and up to 106 g/t #silver in historic sampling. See more: https://loom.ly/_dOlEdU #AAM #ASX #AUM #TSXV