NYSE AMERICAN: MTA
VANCOUVER, BC, Sept. 28, 2020 /CNW/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company") (TSXV:
MTA) (NYSE American: MTA) is pleased to announce that, further to
its news release dated July 27, 2020,
it has completed the previously announced acquisition of a 2.5% net
smelter return royalty interest on the northern and southern
portions of Kirkland Lake Gold Ltd.'s ("Kirkland Lake") (NYSE: KL) (TSX:KL)
operating Fosterville mine
("Fosterville") for total
consideration of A$6.0 million,
consisting of A$2.0 million in cash
and the issuance of 467,730 Metalla common shares.
Fosterville is a high-grade,
low cost underground gold mine in Victoria, Australia which has been in
production since 2005. In 2019, Fosterville produced 619koz gold at a grade of
39.6 g/t and a cash cost of US$119/oz
and AISC of US$291/oz. Kirkland Lake recently reissued its guidance
for 2020 at Fosterville where it
anticipates producing 590 – 610koz of gold at an operating cost of
US$130-US$150/oz of gold(1).
Recent drilling in the Harrier system continued to return
encouraging results, demonstrating a sustained growth opportunity
down dip and in the southern extensions. New drilling returned
high-grade mineralization outside of the existing mineral reserves,
and also demonstrated the continuity of the Harrier structure for
400 metres down plunge while remaining open at depth with intercept
of 8.1 g/t gold over 4.5 metres. High-grade intercepts from recent
drilling include 20.9 g/t gold over 5.9 metres including 295 g/t
gold over 0.3 metres and 22.8 g/t gold over 4.3 metres.
Furthermore, drilling at depth outlined a new sulfide structure on
the footwall of the Harrier Base fault called Wagtail presenting
additional future targets at depth(2).
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, geologist M.Sc., member of the Association of
Professional Geoscientists of Ontario and the Ordre des Géologues du Québec
and a consultant to Metalla. Mr. Beaudry is a Qualified Person as
defined in National Instrument 43-101 - Standards of Disclosure
for Mineral Projects.
Metalla was created for the purpose of providing shareholders
with leveraged precious metal exposure by acquiring royalties and
streams. Our goal is to increase share value by accumulating a
diversified portfolio of royalties and streams with attractive
returns. Our strong foundation of current and future
cash-generating asset base, combined with an experienced team,
gives Metalla a path to become one of the leading gold and silver
companies for the next commodities cycle.
For further information, please visit our website at
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the Exchange) accept
responsibility for the adequacy or accuracy of this release.
See Kirkland Lake
news release filed on December 3, 2019, Kirkland Lake news release
filed on June 30, 2020. and Kirkland Lake Annual Information
Form December 31, 2019.
See Kirkland Lake
news release filed on July 30, 2020
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and U.S. securities legislation. The forward-looking
statements herein are made as of the date of this press release
only, and the Company does not assume any obligation to update or
revise them to reflect new information, estimates or opinions,
future events or results or otherwise, except as required by
Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budgets", "scheduled", "estimates", "forecasts",
"predicts", "projects", "intends", "targets", "aims", "anticipates"
or "believes" or variations (including negative variations) of such
words and phrases or may be identified by statements to the effect
that certain actions "may", "could", "should", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
in this press release include, but are not limited to, Fosterville guidance and growth opportunities,
future cash generation and the potential for Metalla to become one
of the leading precious metal royalty and streaming companies. Such
forward-looking statements reflect management's current beliefs and
are based on information currently available to management.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which are beyond the ability of
Metalla to control or predict and may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. The
forward-looking statements contained in this press release are
based on reasonable assumptions that have been made by management
as at the date of such information and is subject to unknown risks,
uncertainties and other factors that may cause the actual actions,
events or results to be materially different from those expressed
or implied by such forward-looking statements, including, without
limitation: the impact of general business and economic conditions;
the ongoing operation of the properties in which the Company holds
a royalty, stream, or other production based interest by the owners
or operators of such properties in a manner consistent with past
practice; absence of control over mining operations; the accuracy
of public statements and disclosures made by the owners or
operators of such underlying properties; no material adverse change
in the market price of the commodities that underlie the asset
portfolio; regulatory requirements; and other risks and
uncertainties disclosed under the heading "Risk Factors" in the
Company's most recent annual information form, annual report on
Form 40-F and other documents filed with or submitted to the
Canadian securities regulatory authorities on the SEDAR website at
www.sedar.com and the U.S. Securities and Exchange Commission on
the EDGAR website at www.sec.gov.
Although Metalla has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those contained in forward-looking information,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Investors are cautioned that
forward-looking statements are not guarantees of future
performance. The Company cannot assure investors that actual
results will be consistent with these forward-looking statements.
Accordingly, investors should not place undue reliance on
forward-looking statements or information.
Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
SOURCE Metalla Royalty and Streaming Ltd.