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Gold Normal Ventures Experiences 2020 Annual Outcomes

Gold Standard Ventures Reports 2020 Annual Results


VANCOUVER, British Columbia, March 29, 2021 (GLOBE NEWSWIRE) — Gold Normal Ventures Corp. (NYSE AMERICAN: GSV) (TSX: GSV) (“Gold Normal” or the “Firm”) declares the Firm’s audited consolidated monetary outcomes for the 12 months ended December 31, 2020. For particulars of the audited consolidated monetary statements, Administration’s Dialogue and Evaluation, Annual Info Kind, and Kind 40-F for the 12 months ended December 31, 2020, please see the Firm’s filings on SEDAR and EDGAR.

Jason Attew, President and CEO, commented, “Gold Normal had one other busy 12 months in 2020, outlining an up to date PFS for the South Railroad Challenge, reporting an preliminary mineral useful resource estimate on the Lewis Challenge, partnering with a famend mine financier in Orion Mine Finance, finishing our 2020 drill program centered on including to present mineral reserves, and advancing our allowing utility in Nevada.

I wish to take this chance to thank the hard-working crew of individuals working collectively to advance the Firm ahead. I additionally need to thank all of our shareholders who proceed to assist us as we proceed in direction of the event of the South Railroad Challenge.”

2020 and Latest Highlights

  • On the finish of 2020, Gold Normal employees had labored 3,262 consecutive days with out a misplaced time accident. Major area contractors labored over 55,290 consecutive hours in 2020 with out a misplaced time accident.
  • On February 18, 2020, introduced an up to date Pre-Feasibility Examine for the South Railroad Challenge (“SRP”) outlining an 8-year mine life with common gold manufacturing of 115,000 ounces per 12 months at all-in sustaining prices of US$707 per ounce, producing an after-tax NPV (5%) of US$265 million and an IRR of 40.0% at a gold value of US$1,400 per ounce.
  • On Might 5, 2020, introduced an preliminary mineral useful resource estimate for the Virgin Deposit on the Lewis Challenge. Inferred Mineral Assets of 205,827 ounces of gold and three,537,268 ounces of silver contained in 7.74 million tonnes at a grade of 0.83 g Au/t and at a grade of 14.22 g Ag/t. The Firm believes that the Virgin Deposit is a continuation of the Phoenix-Fortitude mineralization presently being mined by Nevada Gold Mines on the Phoenix mine to the south of the Lewis Challenge.
  • On July 16, 2020, introduced a strategic partnership with Orion Mine Finance (“Orion”) for US$22.5 million. As a part of the partnership, Orion bought roughly US$20.5 million of shares in Gold Normal via treasury (US$5.9 million) and secondary (US$14.6 million) purchases, entered right into a silver streaming settlement to buy 100% of the silver manufacturing from the SRP and Jasperoid Wash deposit at a value of 15% of the prevailing value for silver in trade for US$2.0 million, and agreed to offer Gold Normal with a time period sheet to offer as much as US$200 million of financing assist to the Firm to assist finance the development of the SRP.
  • In August 2020, the Firm established an at-the-market fairness program (“ATM”) whereby it issued 15,000,000 frequent shares for mixture gross proceeds of $15,678,000. The Firm terminated the ATM in September 2020.
  • In October and November 2020, introduced drill outcomes on the Pinion and Darkish Star deposits, in addition to the LT goal. Highlights embrace decreased drill spacing at Pinion with the aim of changing Inferred Mineral Assets to Measured and Indicated Mineral Assets, step out drilling at Primary Darkish Star increasing mineralization to the east, and regional property exploration on the LT goal positioned close to the Plan of Operations boundary of the SRP.
  • On November 6, 2020, reported that the Firm submitted its Plan of Operations to the Federal Bureau of Land Administration (“BLM”) outlining the Firm’s plans to construct and function the proposed SRP, positioned in Elko County, Nevada. This submission is a key step that initiates the mission allowing course of.
  • On December 2, 2020, introduced the appointment of Jason Attew as President and CEO, succeeding Jonathan Awde. In connection together with his appointment as President and CEO, Mr. Attew subscribed for 1,000,000 frequent shares of the Firm for mixture proceeds of $854,000 via a non-brokered personal placement.
  • On January 5, 2021, introduced the reconstitution of the senior management crew with the appointments of Larry Radford, Chief Working Officer; Jordan Neeser, Chief Monetary Officer; and Michael McDonald, Vice President, Company Growth & Investor Relations. Mixed with the CEO change, 4 senior executives have been appointed, and 4 senior executives departed.
  • On February 1, 2021, the Firm’s Plan of Operations was deemed full by the BLM. Having the Plan of Operations dominated full by the BLM permits the Firm to begin the Environmental Influence Assertion course of pursuant to the Nationwide Environmental Coverage Act.
  • On February 17, 2021, accomplished a purchased deal financing of 39,215,000 frequent shares at a value of $0.88 per share for gross proceeds of $34.5 million. The web proceeds from the financing might be used for growth, allowing, exploration, and normal company functions. The Firm expects to be financed via the completion of our Feasibility Examine and be capable of proceed enhancing the SRP.
  • On March 9, 2021, engaged Cutfield Freeman & Co. as building capital monetary advisor to evaluate all avenues of building funding for the SRP.

Monetary Outcomes for the 12 months Ended December 31, 2020

The Firm reported a internet lack of $10.7 million for the twelve months ended December 31, 2020 in comparison with a internet lack of $9.7 million for the twelve months ended December 31, 2019.

Certified Individuals

Steven R. Koehler, Supervisor of Tasks of the Firm is the Firm’s Certified Individual (QP) as outlined by Nationwide Instrument 43-101 and has reviewed and authorised the technical contents of this information launch.

About Gold Normal

Gold Normal is creating the South Railroad Challenge, an open pit, heap leach gold mission positioned in Elko County, Nevada. The mission is a part of a +21,000 hectare land package deal on the Carlin Development, and is 100% owned or managed by Gold Normal. The aim of the Firm is to turn out to be the low-cost junior producer of alternative in Nevada, one of many premier mining jurisdictions on this planet.

Cautionary Be aware Concerning Ahead-Trying Statements

This information launch incorporates forward-looking statements, which relate to future occasions or future efficiency. All statements, apart from statements of historic truth, included herein together with, with out limitation, statements concerning the continuation of mineralization on the Virgin Deposit, the flexibility of the Firm to transform inferred mineral assets to indicated mineral assets and to develop areas of reported mineralization, potential financing and building of the SRP, using the web proceeds from the Firm’s latest financing, the adequacy of the Firm’s money assets to fund operations via the completion of the Feasibility Examine and enhancement of the SRP and turning into a low-cost gold producer are ahead wanting statements. Such forward-looking statements replicate administration’s present beliefs and are based mostly on assumptions made by and knowledge presently accessible to the Firm, together with that the Firm might be profitable within the financing and building of the SRP. By their nature, forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger our precise outcomes, efficiency or achievements, or different future occasions, to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. These dangers, uncertainties and different elements embrace, amongst others: that the Firm might not be profitable in financing and developing the SRP; that the SRP might by no means be positioned into manufacturing; international monetary situations and volatility of capital markets, uncertainty concerning the provision of further capital, fluctuations in commodity costs; title issues; and the extra dangers recognized in our filings with Canadian securities regulators on SEDAR in Canada (accessible at www.sedar.com) and with the SEC on EDGAR (accessible at www.sec.gov/edgar.shtml). These forward-looking statements are made as of the date hereof and, besides as required beneath relevant securities laws, the Firm doesn’t assume any obligation to replace or revise them to replicate new occasions or circumstances.

For additional data contact:
Michael McDonald
Vice President, Company Growth & Investor Relations
Cellphone: 1-604-687-2766
E-Mail: information@goldstandardv.com

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