Today's News from the Junior Mining Sector

[00:00:00] UBS says staying long in gold will be effective for investors as it projects the yellow metal to hit $1,600 in under six months and then climb to $1,650 within a year. You are listening to Mining Stock Daily.

[00:00:18] And good morning, welcome to Mining Stock Daily. This is your host, Trevor Hall and today is Tuesday August 27th. The price of gold hit $1,568 on the front month futures basis and silver made a run after a Trump tweet that China and the White House discussed the trade dispute over a phone call that apparently was never made. Gold reluctantly gave back all of us earlier gains to close around the level it closed on Friday. Silver managed to hold on to most of its gains and close the Comex day's session about 40 cents above Friday's close. Today's briefing is brought to you by Western Copper and Gold. Western Copper and Gold is focused on developing the World Class Casino Project in Canada's Yukon Territory. The Casino Project consists of an impressive 10 billion pounds of copper and 18 million ounces of gold and an overall resource. Western Copper and Gold trades on the TSX and NYSE with the symbol WRN. Be sure to follow the company via their website at westerncopperandgold.com.

[00:01:20] Here's what you need to know today out of the Junior Resource Sector. Probe Metals shared new drill results from its 2019 program on the Val-d'Or East Monique option property. Results from eighteen drill holes were received and indicated new discoveries south and southwest of the A and B gold zones. Best asset results from south of the A and B gold zones were from hole MO-19-16 at 184m depth, which returned 5.9 g/t gold over 11.5m within a larger interval grading 1.9 g/t gold over 49.5m. The company is in the planning stages for its 2020 drill program to follow up on these discoveries. Probe may earn a 60% interest in the property by spending an aggregate of $2 million on exploration before January of 2021. The company trades on the Toronto Venture Exchange with the symbol PRB and on the OTC markets with PROBF. News Release 

[00:02:22] Ascot Resources shared the fifth set of results from its 2019 drill program on the Premier Project near Stewart, British Columbia. Results included 69 g/t gold over 0.85m and 11.8 g/t gold over 2m. All holes were drilled in the vicinity of the S1 pit at the Big Missouri Ridge, located about 5km to the north of the Premier mill. The company expects more [00:02:47]ESA [0.0s] results to be released in the near future from its other infill and exploration drilling on the project. Ascot trades on the Venture Exchange with AOT and on the OTC markets with AOTVF. News Release 

[00:03:01] Triumph Gold has entered into an option agreement with Rio Tinto Exploration Canada to sell its Andalusite Peak property located in northwest British Columbia. Under the terms of the option agreement, Rio will pay Triumph Gold $3 million over a five year option period and reserve for Triumph Gold a 1% net smelter returns royalty, which is capped at $50 million. The sum of $25,000 is payable to the company within 45 days of the agreement date with a further $50,000 payable on or before the first anniversary date of the agreement. Triumph's flagship property is the Freegold Mountain property in the Yukon. The company trades on the TSX Venture with TIG and on the OTC markets with TIGCF. News Release 

[00:03:51] K92 Mining says the company has paid $12.5 million to Barrick Gold under the Amendment Agreement previously announced in July to eliminate the contingent payment agreement under the terms of the share sale agreement from June of 2014. CEO John Lewins says taking care of the payment allows K92 to aggressively implement its exploration and development plans for the Kainantu Gold Mine. K92 trades on the TSX Venture with KNT and on the OTCQX with KNTNF. News Release

[00:04:27] Dolly Varden Silver Corp. now said it will raise $3.5 million from the sale of flow through shares. The company also announced that Eric Sprott will be making a strategic investment in the company through its participation in this financing. Though Mining Stock Journal said that it does not advise investing in junior miners solely on the basis of an Eric Sprott investment stake, but noted that Dolly Varden is an interesting silver play. The company's shares trade under DOLLF in the US and DV on the TSX Venture. News Release

[00:05:01] That concludes today's briefing. Please be sure to take a moment and provide your review of this show on the network or service utilized to catch the daily rundown of mining news. Your feedback is always greatly appreciated. And if you wish to reach out to me, feel free to drop me an email using the address trevor@clearcreekdigital.com. You can also find me on Twitter, LinkedIn and Instagram. That's it for me today. Have a wonderful day, we'll be back in tomorrow. Be well.

[00:05:30] Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein.