TORONTO, May 01, 2025 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with McEwen Mining (“MUX”) to evaluate its Stock Mill for processing of material extracted from Inventus’ 100%-owned Pardo Gold Project located 65 km east of Sudbury, Ontario.
Highlights
- The MOU describes the mutual intent of Inventus and MUX to evaluate if processing of bulk sample material can occur at the Stock Mill from a regulatory, operational and economic perspective.
- The Company currently holds a permit for a 50,000-tonne bulk sample at Pardo and intends to process up to 45,000 tonnes of material from Pardo over the next 12 months.
- Inventus previously conducted a 5,000-tonne and 1,000-tonne bulk sample from Pardo in 2022 and 2017, which returned grades of 3.4 gpt gold and 4.2 gpt gold, respectively.
- The evaluation is expected to conclude shortly and if positive, bulk sampling activities will begin promptly thereafter.
If processing at the Stock Mill is feasible, Inventus intends to extract and process up to 45,000 tonnes from its Pardo Gold Project over the next 12 months. Inventus currently holds a 50,000-tonne bulk sample permit, 5,000 of which was extracted in 2022 and returned a grade of 3.4 gpt gold (see news release Sept 27th, 2022). In 2017, Inventus processed a 1,000-tonne bulk sample at the Stock Mill which returned a grade of 4.2 gpt gold (see news release Jan 3rd, 2018).
Wesley Whymark, President and Head of Exploration comments: “Discussions with McEwen Mining to process material at the Stock Mill have been very positive and if deemed viable by both companies, would be an exciting step forward for Inventus. Pardo presents a compelling near-term opportunity. The ability to process significant bulk samples at the Stock Mill would help demonstrate the potential of the project and improve confidence of the gold grade. The Company's previous bulk samples have already established a baseline of cost and at today’s gold prices additional bulk sampling should benefit the Company economically.”
Terms of the MOU
The MOU outlines Inventus’ intent to process up to 45,000 tonnes of gold-bearing material from the Pardo Property at the Stock Mill in Ontario. Under the MOU, McEwen will seek necessary regulatory approvals and process the material in discrete batches, with gold refined and credited to Inventus’ account. Inventus is responsible for delivering compliant material and covering all milling costs based on an agreed schedule. The arrangement is non-exclusive. Both parties will maintain responsibility for their respective environmental obligations and will share operational and assay data to ensure transparency. The MOU remains in effect until March 31, 2026, unless extended by mutual agreement.
For further information visit www.inventusmining.com, or contact:
Mr. Wesley Whymark
President and Head of Exploration
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 192 million common shares outstanding.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Inventus’ President and Head of Exploration, Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, 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 the Company’s public documents filed on SEDAR+. Although the Company 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. The Company 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.
