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omineca mining & metals ltd (OMM) Details

Omineca Mining and Metals Ltd., a junior resource company, explores for and develops mineral resources. in Canada and Yukon. It focuses on the Wingdam gold project located in the prolific Barkerville gold camp in central British Columbia. The company was incorporated in 2011 and is based in Saskatoon, Canada.

Founded in 2011

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omineca mining & metals ltd
Omineca Mining and Metals Ltd. Reports Earnings Results for the Full Year Ended December 31, 2018

Omineca Mining and Metals Ltd. announced earnings results for the full year ended December 31, 2018. For the full year, the company announced net loss was CAD 1.327 million compared to CAD 882,540 a year ago. Basic loss per share from continuing operations was CAD 0.02 compared to CAD 0.01 a year ago.

Omineca Mining and Metals Ltd. Executes Binding Letter Agreement to Commence Bulk Sample Operations At the Wingdam Project

Omineca Mining and Metals Ltd. announced that it has executed a binding letter agreement with an arms length private company based in Saskatchewan to commence a bulk sample program running 300 meters down the length of the paleochannel, as a follow-on to the initial smaller scale bulk sample completed in 2012 at the Company's Wingdam gold project, 45 km east of Quesnel, British Columbia. Under the terms of the agreement, Privco will incur 100% of the costs associated with the preparation work required to commence operations, inclusive of all equipment and consumables required, as well as the development of the access drift and the establishment of the freeze cap. In exchange for completing the preparatory work, Privco will earn a 50% interest in the Wingdam project. OMM executed this Agreement and looks forward to the rapid advancement of the project. Omineca has a detailed understanding and plan for completing the Bulk Sample at Wingdam using modern freeze mining technology, as is evidenced by the completion of the 2.4m x 2.4m x 23m bulk sample cross cut completed in 2012, successfully recovering 5.4 kilograms (173 troy ounces) of placer gold. OMM and Privco will enter into a definitive joint venture agreement in due course, which shall incorporate the basic terms outlined in the Agreement. OMM further anticipates that preparatory work at Wingdam will commence in the second quarter of 2019. This Agreement and subsequent joint venture or option is subject to regulatory and TSXV Exchange review and acceptance.

Omineca Mining and Metals Ltd. Signs Mining Services Agreement with HCC Mining and Demolition Inc for Bulk Sample Program at the Wingdam Project

Omineca Mining and Metals Ltd. announced that further to the new release of March 1, 2019 Omineca Executes Binding Letter Agreement to Commence Bulk Sample Operations at the Wingdam Project, it has signed a Mining Services Agreement with HCC Mining and Demolition Inc. (HCC), a diversified, contract mining company based in Saskatoon, SK to perform all mining services associated with the bulk sample program at the Company's Wingdam placer gold recovery project located 45 kilometers east of Quesnel, BC. Under the Agreement, HCC will supply all labour, equipment, material, supplies and services necessary to carry out the bulk sample on the Wingdam property at a fixed rate of CAD 850 per ounce of gold recovered. The Agreement and rate will cover the bulk sample planned for 2019 and any subsequent sampling activities over the entire 2.4 kilometer underground paleochannel on the Wingdam property. Under the terms of the binding letter agreement announced on March 1, 2019 these costs will be born proportionately by Omineca and its partner, with all preparatory costs to be borne by the partner. Omineca anticipates that HCC will also be contracted for the preparatory work necessary to begin the sampling program. The proposed 2019 bulk sample will involve a series of cross-cuts and drifts running 300 meters down the length of the underground paleochannel, as a follow-on to the smaller scale, cross-cut bulk sample completed in 2012, and will use modern freeze mining technology. The 2.4m x 2.4m x 23m bulk sample cross cut completed in 2012, successfully recovered 5.4 kilograms (173 troy ounces) of placer gold. HCC will be following a detailed Bulk Sample Mine Plan developed by the Company in 2016 based on the successful techniques used in 2012. The 2019 bulk sample program is anticipated to take approximately 16 months to complete including mobilization, dewatering, access drift expansion, ground freezing and the 300 meter bulk sample. Omineca is pleased to partner with HCC. HCC is a Saskatchewan based mining and civil infrastructure company that includes an aboriginal equity ownership interest held by Mistawasis Nehiyawak. In addition to 20 years of extensive potash experience, HCC brings project accomplishments in gold, uranium, and oil and gas, both domestically and internationally. A division of HCC operated in Africa and Asia for over 10 years including the mining of an alluvial gold operation in eastern Congo. HCC's experience, specialized equipment, innovative mining techniques and an excellent safety record are ideally suited for the Wingdam project. Omineca anticipates that it will have an executed joint venture agreement in place in the second quarter of 2019 and that preparatory work at Wingdam will commence shortly thereafter. The joint venture agreement will be subject to regulatory and TSXV Exchange review and acceptance.

 

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