STSBF - South Star Mining Announces Exercise of Warrants
(TheNewswire)
Toronto, ON - TheNewswire - April 19, 2021 - South Star Mining Corp. ( “South Star ” or “the Company” ) (TSXV: STS ) (OTC:STSBF) is pleased to announcethat 3,899,000 warrants have been exercised for total proceeds ofC$584,850. The C$0.15 warrants were originally issued in February2019.
Richard Pearce, President and CEO of South Star,commented: “I am very pleased to announce that the warrants havebeen exercised and would like to thank our investors for continuedsupport moving through construction in 2021 and towards our goal ofcommercial production in 2022. 2021 and 2022 will be atransformational time for us as we transition from a development to aproduction story and become the first new graphite mine placed incontinuous production in the Americas in over a decade. Santa Cruzwill provide high-quality, critical raw materials for industrial andhigh value-added uses, including li-ion batteries and theelectrification revolution, for years to come. We believe that thepath to long-term shareholder and stakeholder value centers onresponsible, profitable production and being a positive contributor inthe communities in which we operate. The team is committed to ourvision of delivering value.”
South Star Mining Corp. is focused on the selectiveacquisition and development of near-term production projects inBrazil. South Star is driven to create fundamental value in thebattery metals sector for clients and investors with real projectsthat have strong intrinsic financial and operating metrics, and thatcan be profitable throughout the resource cycle. South Star has anexperienced executive team with a strong history of discovering,developing, building and operating profitable mines in Brazil.
The Santa Cruz Graphite Project (“the Project”),located in Southern Bahia, is the first of a series of battery metalsprojects that will be put into production. Brazil is thesecond-largest graphite-producing region in the world with more than80 years of continuous mining. The Project has at-surfacemineralization in friable materials, and successful large-scale pilotplant testing (>30t) has been completed. The results of the testingshow that approximately 65% of Cg concentrate is +80 mesh with goodrecoveries and 95-99% Cg. With excellentinfrastructure and logistics, South Star is carrying its developmentplan towards Phase 1 production projected in Q4 2022, pendingfinancing.
South Star is committed to a corporate culture, projectexecution plan and safe operations that embrace the highest standardsof ESG principles based on transparency, stakeholder engagement,on-going education and stewardship. To learnmore, please visit the Company website at http://www.southstarmining.ca .
On behalf of the Board,
Mr. Richard Pearce
Chief Executive Officer
For additional information, pleasecontact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Mr. Dave McMillan
Chairman
Email: davemc@telus.net
Twitter: https://twitter.com/southstarmining
Facebook: https://www.facebook.com/southstarmining/
LinkedIn: https://www.linkedin.com/company/south-star-mining-corp/
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this press release.
This news release and the UpdatedTechnical Report contain references to inferred resources. TheReport is preliminary in nature and includes inferred mineralresources that are considered too speculative geologically to have theeconomic considerations applied to them that would enable them to becategorized as mineral reserves.
Forward-Looking Information
The information contained hereincontains "forward-looking statements" within the meaning ofapplicable securities legislation. Forward-looking statements relateto information that is based on assumptions of management, forecastsof future results, and estimates of amounts not yet determinable. Anystatements that express predictions, expectations, beliefs, plans,projections, objectives, assumptions or future events or performanceare not statements of historical fact and may be "forward-lookingstatements".
Forward-looking statements aresubject to a variety of risks and uncertainties which could causeactual events or results to differ from those reflected in theforward-looking statements, including, without limitation: risksrelated to failure to obtain adequate financing on a timely basis andon acceptable terms; risks related to the outcome of legalproceedings; political and regulatory risks associated with mining andexploration; risks related to the maintenance of stock exchangelistings; risks related to environmental regulation and liability; thepotential for delays in exploration or development activities or thecompletion of feasibility studies; the uncertainty of profitability;risks and uncertainties relating to the interpretation of drillresults, the geology, grade and continuity of mineral deposits; risksrelated to the inherent uncertainty of production and cost estimatesand the potential for unexpected costs and expenses; results ofprefeasibility and feasibility studies, and the possibility thatfuture exploration, development or mining results will not beconsistent with the Company's expectations; risks related to commodityprice fluctuations; and other risks and uncertainties related to theCompany's prospects, properties and business detailed elsewhere in theCompany's disclosure record. Should one or more of these risks anduncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from those described inforward-looking statements. Investors are cautioned againstattributing undue certainty to forward-looking statements. Theseforward looking statements are made as of the date hereof and theCompany does not assume any obligation to update or revise them toreflect new events or circumstances. Actual events or results coulddiffer materially from the Company's expectations orprojections.
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