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<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-tax-calc-663.jpg" alt="" class="wp-image-50076"/><figcaption>Image Credit: Phillip Ingham (Flickr)</figcaption></figure>



<h2>Selling at a Loss Near Year-End Could be Financially Worthwhile</h2>



Calling someone “paper hands” is common inonline trading communities such as r/wallstreetbets. It borders on a bullying tactic to encourage others on the platform to remain in stocks that have weakened. The reason is that many in the community own and have taken a “<a href="https://www.channelchek.com/news-channel/You_Can_Own_a_Piece_of_r_wallstreetbets">diamond hands</a>” position. Investors should consider that the tax code may reward those investors that are looking out for themselves first and the chatboard community second.&nbsp;



The first three quarters of overall market performance in 2022 can only be described as ugly. Each portfolio is likely to have its share of losses. Many investors can make a little lemonade out of the abundance of lemons that may be in their portfolios. But first, they need to take steps to harvest these lemons.







<h3>Tax Loss Harvesting</h3>



While there are many reasons that taking a loss is uncomfortable, the reason one invests in the first place is for financial gain. Playing the cards you’re handed, at all times, is considered prudent investing. Taking and using them to help reduce ones tax bill, can make financial sense. The tax consequence decision to sell below-cost investments and use the losses to offset gains from other investments or ordinary income is referred to as tax loss harvesting.



An example of how tax loss harvesting could help an investor financially is this. An investor will sell one or more of their negative on-the-year investments and recognize a loss. The investor then uses these capital losses to offset capital gains and/or W2 or 1099 income. If losses exceed gains by $3,000 or the losses taken up to $3,000, can be used to offset ordinary income in the current year. Amounts above $3,000 can be carried forward and used in future tax years.



There is one more step, investing in something else. The investor can either maintain their sector allocation, or invest in something completely different. Buying back the same issuer name is an IRS no-no. The investors' exposure to the overall market remains intact, but there is a $3,000 reduction in earned income or capital gains.







<h3>Wash Sale Rule</h3>



There is a link below this article to the IRS website, before executing a tax strategy, it is recommended you visit the site, and if not clear, consult your tax advisor.



One way investors have gotten themselves in trouble with the IRS is selling a security at a loss and then reacquiring the same or substantially similar investment. If you sell a security and claim a tax loss on that sale, the Internal Revenue Service’s guidelines, commonly referred to as the “wash sale,” rule will require you don’t reinvest in the same issuer. &nbsp;



The wash sale rule outlines that investors cannot buy a “substantially identical” security 30 days before or after the sale of the funds chosen when conducting tax loss harvesting. This doesn’t mean the investor has to buy an investment in a completely different industry. For example, if an investor sold a silver mining company stock to harvest a tax loss — but still wants mining exposure — they could potentially buy a new or different stock within the industry.







<h3>Take Away</h3>



Taking an investment loss means a hard dollar recognition of the loss, and recognition that you judged wrong. But, investing is always about maximizing financial gain. Investors that are correct 25% of the time, often beat those that are correct 60% of the time. So needing to be correct could actually hurt performance. Understanding the other financial moves investors can make to maximize their overall finances, can incrementally benefit their personal balance sheet.



While belonging to a consortium of investors that are stronger when sticking together is comforting, one must recognize that when it comes to investing, most will do what is best for themselves first. There is no guilt in protecting or maximizing your own finances legally.



Channelchek is a niche community of small and microcap investors. We believe in leveling the playing field by providing the exact same research and analysis to individuals at no cost that the most revered hedge funds in the country download from expensive services they subscribe to. <a href="https://www.channelchek.com/registration">Sign-up</a> to receive this equity research each morning.



<a href="mailto:phoffman@channelchek.com">Paul Hoffman</a>



Managing Editor, Channelchek











Sources



<a href="https://www.irs.gov/taxtopics/tc409">https://www.irs.gov/taxtopics/tc409</a>



<a href="https://www.nasdaq.com/articles/the-advisors-guide-to-tax-loss-harvesting">https://www.nasdaq.com/articles/the-advisors-guide-to-tax-loss-harvesting</a>

<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="663" height="342" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-tax-calc-663.jpg" alt="" class="wp-image-50076" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-tax-calc-663.jpg 663w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-tax-calc-663-300x155.jpg 300w" sizes="(max-width: 663px) 100vw, 663px" /><figcaption>Image Credit: Phillip Ingham (Flickr)</figcaption></figure></div>


<h2>Selling at a Loss Near Year-End Could be Financially Worthwhile</h2>



Calling someone “paper hands” is common inonline trading communities such as r/wallstreetbets. It borders on a bullying tactic to encourage others on the platform to remain in stocks that have weakened. The reason is that many in the community own and have taken a “<a href="https://www.channelchek.com/news-channel/You_Can_Own_a_Piece_of_r_wallstreetbets">diamond hands</a>” position. Investors should consider that the tax code may reward those investors that are looking out for themselves first and the chatboard community second.&nbsp;



The first three quarters of overall market performance in 2022 can only be described as ugly. Each portfolio is likely to have its share of losses. Many investors can make a little lemonade out of the abundance of lemons that may be in their portfolios. But first, they need to take steps to harvest these lemons.







<h3>Tax Loss Harvesting</h3>



While there are many reasons that taking a loss is uncomfortable, the reason one invests in the first place is for financial gain. Playing the cards you’re handed, at all times, is considered prudent investing. Taking and using them to help reduce ones tax bill, can make financial sense. The tax consequence decision to sell below-cost investments and use the losses to offset gains from other investments or ordinary income is referred to as tax loss harvesting.



An example of how tax loss harvesting could help an investor financially is this. An investor will sell one or more of their negative on-the-year investments and recognize a loss. The investor then uses these capital losses to offset capital gains and/or W2 or 1099 income. If losses exceed gains by $3,000 or the losses taken up to $3,000, can be used to offset ordinary income in the current year. Amounts above $3,000 can be carried forward and used in future tax years.



There is one more step, investing in something else. The investor can either maintain their sector allocation, or invest in something completely different. Buying back the same issuer name is an IRS no-no. The investors&#8217; exposure to the overall market remains intact, but there is a $3,000 reduction in earned income or capital gains.







<h3>Wash Sale Rule</h3>



There is a link below this article to the IRS website, before executing a tax strategy, it is recommended you visit the site, and if not clear, consult your tax advisor.



One way investors have gotten themselves in trouble with the IRS is selling a security at a loss and then reacquiring the same or substantially similar investment. If you sell a security and claim a tax loss on that sale, the Internal Revenue Service’s guidelines, commonly referred to as the “wash sale,” rule will require you don’t reinvest in the same issuer. &nbsp;



The wash sale rule outlines that investors cannot buy a “substantially identical” security 30 days before or after the sale of the funds chosen when conducting tax loss harvesting. This doesn’t mean the investor has to buy an investment in a completely different industry. For example, if an investor sold a silver mining company stock to harvest a tax loss — but still wants mining exposure — they could potentially buy a new or different stock within the industry.







<h3>Take Away</h3>



Taking an investment loss means a hard dollar recognition of the loss, and recognition that you judged wrong. But, investing is always about maximizing financial gain. Investors that are correct 25% of the time, often beat those that are correct 60% of the time. So needing to be correct could actually hurt performance. Understanding the other financial moves investors can make to maximize their overall finances, can incrementally benefit their personal balance sheet.



While belonging to a consortium of investors that are stronger when sticking together is comforting, one must recognize that when it comes to investing, most will do what is best for themselves first. There is no guilt in protecting or maximizing your own finances legally.



Channelchek is a niche community of small and microcap investors. We believe in leveling the playing field by providing the exact same research and analysis to individuals at no cost that the most revered hedge funds in the country download from expensive services they subscribe to. <a href="https://www.channelchek.com/registration">Sign-up</a> to receive this equity research each morning.



<a href="mailto:phoffman@channelchek.com">Paul Hoffman</a>



Managing Editor, Channelchek











Sources



<a href="https://www.irs.gov/taxtopics/tc409">https://www.irs.gov/taxtopics/tc409</a>



<a href="https://www.nasdaq.com/articles/the-advisors-guide-to-tax-loss-harvesting">https://www.nasdaq.com/articles/the-advisors-guide-to-tax-loss-harvesting</a>

Image Credit: Phillip Ingham (Flickr)


Selling at a Loss Near Year-End Could be Financially Worthwhile



Calling someone “paper hands” is common inonline trading communities such as r/wallstreetbets. It borders on a bullying tactic to encourage others on the platform to remain in stocks that have weakened. The reason is that many in the community own and have taken a “diamond hands” position. Investors should consider that the tax code may reward those investors that are looking out for themselves first and the chatboard community second.&nbsp;



The first three quarters of overall market performance in 2022 can only be described as ugly. Each portfolio is likely to have its share of losses. Many investors can make a little lemonade out of the abundance of lemons that may be in their portfolios. But first, they need to take steps to harvest these lemons.







Tax Loss Harvesting



While there are many reasons that taking a loss is uncomfortable, the reason one invests in the first place is for financial gain. Playing the cards you’re handed, at all times, is considered prudent investing. Taking and using them to help reduce ones tax bill, can make financial sense. The tax consequence decision to sell below-cost investments and use the losses to offset gains from other investments or ordinary income is referred to as tax loss harvesting.



An example of how tax loss harvesting could help an investor financially is this. An investor will sell one or more of their negative on-the-year investments and recognize a loss. The investor then uses these capital losses to offset capital gains and/or W2 or 1099 income. If losses exceed gains by $3,000 or the losses taken up to $3,000, can be used to offset ordinary income in the current year. Amounts above $3,000 can be carried forward and used in future tax years.



There is one more step, investing in something else. The investor can either maintain their sector allocation, or invest in something completely different. Buying back the same issuer name is an IRS no-no. The investors&#8217; exposure to the overall market remains intact, but there is a $3,000 reduction in earned income or capital gains.







Wash Sale Rule



There is a link below this article to the IRS website, before executing a tax strategy, it is recommended you visit the site, and if not clear, consult your tax advisor.



One way investors have gotten themselves in trouble with the IRS is selling a security at a loss and then reacquiring the same or substantially similar investment. If you sell a security and claim a tax loss on that sale, the Internal Revenue Service’s guidelines, commonly referred to as the “wash sale,” rule will require you don’t reinvest in the same issuer. &nbsp;



The wash sale rule outlines that investors cannot buy a “substantially identical” security 30 days before or after the sale of the funds chosen when conducting tax loss harvesting. This doesn’t mean the investor has to buy an investment in a completely different industry. For example, if an investor sold a silver mining company stock to harvest a tax loss — but still wants mining exposure — they could potentially buy a new or different stock within the industry.







Take Away



Taking an investment loss means a hard dollar recognition of the loss, and recognition that you judged wrong. But, investing is always about maximizing financial gain. Investors that are correct 25% of the time, often beat those that are correct 60% of the time. So needing to be correct could actually hurt performance. Understanding the other financial moves investors can make to maximize their overall finances, can incrementally benefit their personal balance sheet.



While belonging to a consortium of investors that are stronger when sticking together is comforting, one must recognize that when it comes to investing, most will do what is best for themselves first. There is no guilt in protecting or maximizing your own finances legally.



Channelchek is a niche community of small and microcap investors. We believe in leveling the playing field by providing the exact same research and analysis to individuals at no cost that the most revered hedge funds in the country download from expensive services they subscribe to. Sign-up to receive this equity research each morning.



Paul Hoffman



Managing Editor, Channelchek











Sources



https://www.irs.gov/taxtopics/tc409



https://www.nasdaq.com/articles/the-advisors-guide-to-tax-loss-harvesting

Paper Hands and the IRS

Taxes

<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/ipoof-logo-pr-1.png" alt="" class="wp-image-50045" /></figure>



<a href="http://www.channelchek.com/company/ipoof">Research, News, and Market Data on IPOOF</a>



CALGARY, Alberta, Sept. 22, 2022 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce that it has published its inaugural sustainability report (the “Sustainability Report”) which can be accessed through the Company’s website.



The Sustainability Report highlights the Company’s significant environmental successes and reaffirms the Company’s commitment to environmental stewardship while safely and efficiently developing our assets that contribute to the local, provincial and Canadian economies. The Sustainability Report outlines the Company’s progress on environmental, social and governance (“ESG”) practices and has been prepared using principles set forth by the Task Force on Climate-related Financial Disclosure (“TCFD”). The Company’s Board of Directors has approved the Sustainability Report which contains performance metrics for the 2020 and 2021 calendar years. Our goal is to ensure all stakeholders benefit from our business operations both in the short-term and long into the future.



For further information please contact:



<figure class="wp-block-table"><table><tbody><tr><td>Doug Bartole President and Chief Executive Officer InPlay Oil Corp. Telephone: (587) 955-0632</td><td>&nbsp;</td><td>Darren Dittmer Chief Financial Officer InPlay Oil Corp. Telephone: (587) 955-0634</td></tr></tbody></table></figure>



 Reader Advisories



Forward-Looking Statements



This news release contains certain forward–looking statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends", "forecast", "targets", "framework" and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward looking statements pertaining to the following: statements with respect to the Company’s commitments and goals, including its commitment to environmental stewardship while safely and efficiently developing our assets and its goal of ensuring all stakeholders benefit from our business operations both in the short-term and long into the future.



Forward-looking statements are based on a number of material factors, expectations or assumptions of InPlay which have been used to develop such statements but which may prove to be incorrect. Although InPlay believes that the expectations reflected in such forward looking statements are reasonable, undue reliance should not be placed on forward-looking statements because InPlay can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which InPlay operates; the timely receipt of any required regulatory approvals; the ability of InPlay to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which InPlay has an interest in to operate the field in a safe, efficient and effective manner; the ability of InPlay to obtain debt financing on acceptable terms and the anticipated lifting of certain restrictions on the payment of distributions to shareholders which currently exist thereunder; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and the ability of InPlay to secure adequate product transportation; future commodity prices; expectations regarding the potential impact of COVID-19 and the Russia/Ukraine conflict; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; and the ability of InPlay to successfully market its oil and natural gas products.



The forward-looking statements included herein are not guarantees of future performance and should not be unduly relied upon. Such statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward-looking statements including, without limitation: the continuing impact of the COVID-19 pandemic and the Russia/Ukraine conflict; changes in commodity prices and other assumptions outlined herein; the potential for variation in the quality of the reservoirs in which we operate; changes in the demand for or supply of our products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans or strategies of InPlay or by third party operators of our properties; changes in our credit structure, increased debt levels or debt service requirements; inaccurate estimation of our light crude oil and natural gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in InPlay's continuous disclosure documents filed on SEDAR including our Annual Information Form and our MD&amp;A.



The forward-looking statements contained in this news release speak only as of the date hereof and InPlay does not assume any obligation to publicly update or revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="320" height="84" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/ipoof-logo-pr-1.png" alt="" class="wp-image-50045" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/ipoof-logo-pr-1.png 320w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/ipoof-logo-pr-1-300x79.png 300w" sizes="(max-width: 320px) 100vw, 320px" /></figure></div>


<a href="http://www.channelchek.com/company/ipoof">Research, News, and Market Data on IPOOF</a>



CALGARY, Alberta, Sept. 22, 2022 (GLOBE NEWSWIRE) &#8212; InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce that it has published its inaugural sustainability report (the “Sustainability Report”) which can be accessed through the Company’s website.



The Sustainability Report highlights the Company’s significant environmental successes and reaffirms the Company’s commitment to environmental stewardship while safely and efficiently developing our assets that contribute to the local, provincial and Canadian economies. The Sustainability Report outlines the Company’s progress on environmental, social and governance (“ESG”) practices and has been prepared using principles set forth by the Task Force on Climate-related Financial Disclosure (“TCFD”). The Company’s Board of Directors has approved the Sustainability Report which contains performance metrics for the 2020 and 2021 calendar years. Our goal is to ensure all stakeholders benefit from our business operations both in the short-term and long into the future.



For further information please contact:



<figure class="wp-block-table"><table><tbody><tr><td>Doug Bartole President and Chief Executive Officer InPlay Oil Corp. Telephone: (587) 955-0632</td><td>&nbsp;</td><td>Darren Dittmer Chief Financial Officer InPlay Oil Corp. Telephone: (587) 955-0634</td></tr></tbody></table></figure>



 Reader Advisories



Forward-Looking Statements



This news release contains certain forward–looking statements within the meaning of applicable securities laws. The use of any of the words &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;continue&#8221;, &#8220;estimate&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;project&#8221;, &#8220;should&#8221;, &#8220;believe&#8221;, &#8220;plans&#8221;, &#8220;intends&#8221;, &#8220;forecast&#8221;, &#8220;targets&#8221;, &#8220;framework&#8221; and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward looking statements pertaining to the following: statements with respect to the Company’s commitments and goals, including its commitment to environmental stewardship while safely and efficiently developing our assets and its goal of ensuring all stakeholders benefit from our business operations both in the short-term and long into the future.



Forward-looking statements are based on a number of material factors, expectations or assumptions of InPlay which have been used to develop such statements but which may prove to be incorrect. Although InPlay believes that the expectations reflected in such forward looking statements are reasonable, undue reliance should not be placed on forward-looking statements because InPlay can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which InPlay operates; the timely receipt of any required regulatory approvals; the ability of InPlay to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which InPlay has an interest in to operate the field in a safe, efficient and effective manner; the ability of InPlay to obtain debt financing on acceptable terms and the anticipated lifting of certain restrictions on the payment of distributions to shareholders which currently exist thereunder; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and the ability of InPlay to secure adequate product transportation; future commodity prices; expectations regarding the potential impact of COVID-19 and the Russia/Ukraine conflict; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; and the ability of InPlay to successfully market its oil and natural gas products.



The forward-looking statements included herein are not guarantees of future performance and should not be unduly relied upon. Such statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward-looking statements including, without limitation: the continuing impact of the COVID-19 pandemic and the Russia/Ukraine conflict; changes in commodity prices and other assumptions outlined herein; the potential for variation in the quality of the reservoirs in which we operate; changes in the demand for or supply of our products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans or strategies of InPlay or by third party operators of our properties; changes in our credit structure, increased debt levels or debt service requirements; inaccurate estimation of our light crude oil and natural gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in InPlay&#8217;s continuous disclosure documents filed on SEDAR including our Annual Information Form and our MD&amp;A.



The forward-looking statements contained in this news release speak only as of the date hereof and InPlay does not assume any obligation to publicly update or revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Research, News, and Market Data on IPOOF



CALGARY, Alberta, Sept. 22, 2022 (GLOBE NEWSWIRE) &#8212; InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce that it has published its inaugural sustainability report (the “Sustainability Report”) which can be accessed through the Company’s website.



The Sustainability Report highlights the Company’s significant environmental successes and reaffirms the Company’s commitment to environmental stewardship while safely and efficiently developing our assets that contribute to the local, provincial and Canadian economies. The Sustainability Report outlines the Company’s progress on environmental, social and governance (“ESG”) practices and has been prepared using principles set forth by the Task Force on Climate-related Financial Disclosure (“TCFD”). The Company’s Board of Directors has approved the Sustainability Report which contains performance metrics for the 2020 and 2021 calendar years. Our goal is to ensure all stakeholders benefit from our business operations both in the short-term and long into the future.



For further information please contact:



Doug BartolePresident and Chief Executive OfficerInPlay Oil Corp.Telephone: (587) 955-0632&nbsp;Darren DittmerChief Financial OfficerInPlay Oil Corp.Telephone: (587) 955-0634



Reader Advisories



Forward-Looking Statements



This news release contains certain forward–looking statements within the meaning of applicable securities laws. The use of any of the words &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;continue&#8221;, &#8220;estimate&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;project&#8221;, &#8220;should&#8221;, &#8220;believe&#8221;, &#8220;plans&#8221;, &#8220;intends&#8221;, &#8220;forecast&#8221;, &#8220;targets&#8221;, &#8220;framework&#8221; and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward looking statements pertaining to the following: statements with respect to the Company’s commitments and goals, including its commitment to environmental stewardship while safely and efficiently developing our assets and its goal of ensuring all stakeholders benefit from our business operations both in the short-term and long into the future.



Forward-looking statements are based on a number of material factors, expectations or assumptions of InPlay which have been used to develop such statements but which may prove to be incorrect. Although InPlay believes that the expectations reflected in such forward looking statements are reasonable, undue reliance should not be placed on forward-looking statements because InPlay can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which InPlay operates; the timely receipt of any required regulatory approvals; the ability of InPlay to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which InPlay has an interest in to operate the field in a safe, efficient and effective manner; the ability of InPlay to obtain debt financing on acceptable terms and the anticipated lifting of certain restrictions on the payment of distributions to shareholders which currently exist thereunder; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and the ability of InPlay to secure adequate product transportation; future commodity prices; expectations regarding the potential impact of COVID-19 and the Russia/Ukraine conflict; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; and the ability of InPlay to successfully market its oil and natural gas products.



The forward-looking statements included herein are not guarantees of future performance and should not be unduly relied upon. Such statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward-looking statements including, without limitation: the continuing impact of the COVID-19 pandemic and the Russia/Ukraine conflict; changes in commodity prices and other assumptions outlined herein; the potential for variation in the quality of the reservoirs in which we operate; changes in the demand for or supply of our products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans or strategies of InPlay or by third party operators of our properties; changes in our credit structure, increased debt levels or debt service requirements; inaccurate estimation of our light crude oil and natural gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in InPlay&#8217;s continuous disclosure documents filed on SEDAR including our Annual Information Form and our MD&amp;A.



The forward-looking statements contained in this news release speak only as of the date hereof and InPlay does not assume any obligation to publicly update or revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Release - InPlay Oil Corp. Announces Inaugural Sustainability Report

Energy

InPlay Oil Corp.

IPOOF

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 Friday, September 23, 2022



Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.



Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Study Supports Use of TNX102-SL in Long COVID Symptoms.&nbsp; Tonix presented a large, retrospective study to determine the incidence of symptoms in patients with Long COVID (PASC, or Post-Acute Sequelae of COVID-19).&nbsp; The findings showed a significant overlap between symptoms of Long COVID and fibromyalgia, including multi-site pain, fatigue, and insomnia.&nbsp; It also found significantly higher opioid use in patients that have multi-site pain.&nbsp; Since TNX-102 SL has been shown to relieve symptoms of fibromyalgia, we believe the study supports the Phase 2 PREVAIL trial of TXN-102 SL in Long COVID.



Retrospective Analysis of Patient Database Identifies Long COVID Symptoms.&nbsp; Tonix analyzed a large patient database using published criteria to identify Long COVID patients in a network of health care providers.&nbsp; In the sample of 260,082 COVID patients, 20.1% (n=52,322) had Long COVID symptoms.&nbsp; Of these 41.5% (n=21,694) had multi-site pain.



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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

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 Friday, September 23, 2022



Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.



Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Study Supports Use of TNX102-SL in Long COVID Symptoms.&nbsp; Tonix presented a large, retrospective study to determine the incidence of symptoms in patients with Long COVID (PASC, or Post-Acute Sequelae of COVID-19).&nbsp; The findings showed a significant overlap between symptoms of Long COVID and fibromyalgia, including multi-site pain, fatigue, and insomnia.&nbsp; It also found significantly higher opioid use in patients that have multi-site pain.&nbsp; Since TNX-102 SL has been shown to relieve symptoms of fibromyalgia, we believe the study supports the Phase 2 PREVAIL trial of TXN-102 SL in Long COVID.



Retrospective Analysis of Patient Database Identifies Long COVID Symptoms.&nbsp; Tonix analyzed a large patient database using published criteria to identify Long COVID patients in a network of health care providers.&nbsp; In the sample of 260,082 COVID patients, 20.1% (n=52,322) had Long COVID symptoms.&nbsp; Of these 41.5% (n=21,694) had multi-site pain.



<h2> <a href="https://www.channelchek.com/research-reports/25235">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, September 23, 2022



Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.



Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Study Supports Use of TNX102-SL in Long COVID Symptoms.&nbsp; Tonix presented a large, retrospective study to determine the incidence of symptoms in patients with Long COVID (PASC, or Post-Acute Sequelae of COVID-19).&nbsp; The findings showed a significant overlap between symptoms of Long COVID and fibromyalgia, including multi-site pain, fatigue, and insomnia.&nbsp; It also found significantly higher opioid use in patients that have multi-site pain.&nbsp; Since TNX-102 SL has been shown to relieve symptoms of fibromyalgia, we believe the study supports the Phase 2 PREVAIL trial of TXN-102 SL in Long COVID.



Retrospective Analysis of Patient Database Identifies Long COVID Symptoms.&nbsp; Tonix analyzed a large patient database using published criteria to identify Long COVID patients in a network of health care providers.&nbsp; In the sample of 260,082 COVID patients, 20.1% (n=52,322) had Long COVID symptoms.&nbsp; Of these 41.5% (n=21,694) had multi-site pain.



Get the Full Report







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Tonix Pharmaceuticals (TNXP) - Retrospective Patient Analysis Shows Overlapping Symptoms Of Long COVID and Fibromyalgia

Biopharmaceutical

Immunology

TNXP

Tonix Pharmaceuticals

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 Friday, September 23, 2022



Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.



Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Meeting.&nbsp;We had the opportunity to sit down with new CEO Travis Boone and new CFO Scott Thanisch to discuss their early impression of Orion, the near-term game plan, and the longer-term potential of the Company. We came away impressed with management's level of optimism about Orion's potential.



Impressions. Both CEO Boone and CFO Thanisch noted a great opportunity at Orion, saying, in their belief, Orion can be a lot more sophisticated, bigger, and more efficient. CEO Boone noted the potential to use his deep contact base to expand Orion's market presence, while becoming more disciplined on the bidding approach to improve the margin profile.



<h2> <a href="https://www.channelchek.com/research-reports/25233">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

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 Friday, September 23, 2022



Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.



Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Meeting.&nbsp;We had the opportunity to sit down with new CEO Travis Boone and new CFO Scott Thanisch to discuss their early impression of Orion, the near-term game plan, and the longer-term potential of the Company. We came away impressed with management&#8217;s level of optimism about Orion&#8217;s potential.



Impressions. Both CEO Boone and CFO Thanisch noted a great opportunity at Orion, saying, in their belief, Orion can be a lot more sophisticated, bigger, and more efficient. CEO Boone noted the potential to use his deep contact base to expand Orion&#8217;s market presence, while becoming more disciplined on the bidding approach to improve the margin profile.



<h2> <a href="https://www.channelchek.com/research-reports/25233">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, September 23, 2022



Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.



Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Meeting.&nbsp;We had the opportunity to sit down with new CEO Travis Boone and new CFO Scott Thanisch to discuss their early impression of Orion, the near-term game plan, and the longer-term potential of the Company. We came away impressed with management&#8217;s level of optimism about Orion&#8217;s potential.



Impressions. Both CEO Boone and CFO Thanisch noted a great opportunity at Orion, saying, in their belief, Orion can be a lot more sophisticated, bigger, and more efficient. CEO Boone noted the potential to use his deep contact base to expand Orion&#8217;s market presence, while becoming more disciplined on the bidding approach to improve the margin profile.



Get the Full Report







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Orion Group Holdings (ORN) - Meeting New Management

Construction

Marine

Orion Group

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 Friday, September 23, 2022



Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.



Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



2022 diamond drill program.&nbsp;The 2022 diamond drill program at the company’s E&amp;L nickel-copper-cobalt project is testing targets from the 2021 Geotech deep penetrating Z-Axis Tipper Electromagnetic (ZTEM) survey. These include several large-scale low resistivity ZTEM anomalies that are within a plane that contains massive and disseminated sulphide zones.



Off to a promising start.&nbsp;The first deep hole completed at Nickel Mountain in 2022, EL-22-97b, intersected two intervals of E&amp;L gabbro more than 200 meters down plunge from previous drilling and intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by gabbro and peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&amp;L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&amp;L Intrusion, coincident with a large-scale low resistivity/elevated conductivity ZTEM anomaly.



<h2> <a href="https://www.channelchek.com/research-reports/25237">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

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 Friday, September 23, 2022



Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.



Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



2022 diamond drill program.&nbsp;The 2022 diamond drill program at the company’s E&amp;L nickel-copper-cobalt project is testing targets from the 2021 Geotech deep penetrating Z-Axis Tipper Electromagnetic (ZTEM) survey. These include several large-scale low resistivity ZTEM anomalies that are within a plane that contains massive and disseminated sulphide zones.



Off to a promising start.&nbsp;The first deep hole completed at Nickel Mountain in 2022, EL-22-97b, intersected two intervals of E&amp;L gabbro more than 200 meters down plunge from previous drilling and intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by gabbro and peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&amp;L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&amp;L Intrusion, coincident with a large-scale low resistivity/elevated conductivity ZTEM anomaly.



<h2> <a href="https://www.channelchek.com/research-reports/25237">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, September 23, 2022



Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.



Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



2022 diamond drill program.&nbsp;The 2022 diamond drill program at the company’s E&amp;L nickel-copper-cobalt project is testing targets from the 2021 Geotech deep penetrating Z-Axis Tipper Electromagnetic (ZTEM) survey. These include several large-scale low resistivity ZTEM anomalies that are within a plane that contains massive and disseminated sulphide zones.



Off to a promising start.&nbsp;The first deep hole completed at Nickel Mountain in 2022, EL-22-97b, intersected two intervals of E&amp;L gabbro more than 200 meters down plunge from previous drilling and intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by gabbro and peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&amp;L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&amp;L Intrusion, coincident with a large-scale low resistivity/elevated conductivity ZTEM anomaly.



Get the Full Report







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Garibaldi Resources Corp (GGIFF) - On the Right Path

Exploration

Garibaldi Resources

GGIFF

Mining

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 Friday, September 23, 2022



Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.



Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Drilling nearing completion.&nbsp;Defense Metals released results for the first two drill holes, representing 720 meters of drilling, associated with the company’s ongoing 2022 diamond drill program. To date, 15 drill holes, representing 4,800 meters of drilling, have been completed. In aggregate, the company expects to complete 5,000 meters of drilling in 18 holes to upgrade existing resource categories. The company is completing remaining pit slope geotechnical and hydrogeological holes. The initial results were favorable and demonstrate continuity of mineralization over significant widths. Investors should expect a steady flow of assay results from the company in the weeks and months ahead.



Encouraging drill results.&nbsp;Hole WI22-64 returned a broad mineralized intercept of high-grade dolomite carbonate in the upper portions of the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging 1.78% total rare earth oxide (TREO) over 192 meters, including 3.13% TREO over 73 meters. The partial assays reported for WI22-64, one of the deepest holes drilled to date, are from surface to a depth of 284 meters. Results for the remaining 101 meters to the end of hole at 384.5 meters are expected shortly. Hole WI22-62 collared 120 meters to the north of WI22-64, intersected a 109-meter interval of mineralized dolomite carbonatite returning 1.39% TREO over 167 meters, including 2.29% TREO over 48 meters.



<h2> <a href="https://www.channelchek.com/research-reports/25236">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

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 Friday, September 23, 2022



Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.



Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Drilling nearing completion.&nbsp;Defense Metals released results for the first two drill holes, representing 720 meters of drilling, associated with the company’s ongoing 2022 diamond drill program. To date, 15 drill holes, representing 4,800 meters of drilling, have been completed. In aggregate, the company expects to complete 5,000 meters of drilling in 18 holes to upgrade existing resource categories. The company is completing remaining pit slope geotechnical and hydrogeological holes. The initial results were favorable and demonstrate continuity of mineralization over significant widths. Investors should expect a steady flow of assay results from the company in the weeks and months ahead.



Encouraging drill results.&nbsp;Hole WI22-64 returned a broad mineralized intercept of high-grade dolomite carbonate in the upper portions of the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging 1.78% total rare earth oxide (TREO) over 192 meters, including 3.13% TREO over 73 meters. The partial assays reported for WI22-64, one of the deepest holes drilled to date, are from surface to a depth of 284 meters. Results for the remaining 101 meters to the end of hole at 384.5 meters are expected shortly. Hole WI22-62 collared 120 meters to the north of WI22-64, intersected a 109-meter interval of mineralized dolomite carbonatite returning 1.39% TREO over 167 meters, including 2.29% TREO over 48 meters.



<h2> <a href="https://www.channelchek.com/research-reports/25236">Get the Full Report</a></h2>







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, September 23, 2022



Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.



Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Drilling nearing completion.&nbsp;Defense Metals released results for the first two drill holes, representing 720 meters of drilling, associated with the company’s ongoing 2022 diamond drill program. To date, 15 drill holes, representing 4,800 meters of drilling, have been completed. In aggregate, the company expects to complete 5,000 meters of drilling in 18 holes to upgrade existing resource categories. The company is completing remaining pit slope geotechnical and hydrogeological holes. The initial results were favorable and demonstrate continuity of mineralization over significant widths. Investors should expect a steady flow of assay results from the company in the weeks and months ahead.



Encouraging drill results.&nbsp;Hole WI22-64 returned a broad mineralized intercept of high-grade dolomite carbonate in the upper portions of the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging 1.78% total rare earth oxide (TREO) over 192 meters, including 3.13% TREO over 73 meters. The partial assays reported for WI22-64, one of the deepest holes drilled to date, are from surface to a depth of 284 meters. Results for the remaining 101 meters to the end of hole at 384.5 meters are expected shortly. Hole WI22-62 collared 120 meters to the north of WI22-64, intersected a 109-meter interval of mineralized dolomite carbonatite returning 1.39% TREO over 167 meters, including 2.29% TREO over 48 meters.



Get the Full Report







This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Defense Metals Corp. (DFMTF) - Diamond Drilling Nearing Completion

Defense Metals

DFMTF

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<h2>Owning a Balanced Diversified Investment Portfolio Has Been Like Watching a Train Wreck</h2>



From the time that most realized the Fed would aggressively deal with inflation, watching the classic 60/40 balanced portfolio has been like watching a slow train wreck.



Diversification, balance, a 60/40 allocation have been the marching orders from those “in the know.” But what do you do when you’re terribly sure that the 40% in bonds will be worth less tomorrow, and the 60% in a standard stock index is more likely to be down than up? This is the question investors, wealth managers, and retirees have been faced with since early in 2022. The Chair of the Federal Reserve promised to raise rates, so the 40% allocation in bonds has been almost guaranteed by a Federal agency to perform worse than cash in your pillow case, and when interest rates rise, the economy does worse, which at first weighs down stock indexes.



Advisors want their customers to sleep better at night, so they tell them not to worry, no one can call the market, you don’t want to miss the up days. Every time, the markets have bailed them out, and there is no reason not to think that there won’t continue to be eventual increases on one side or the other of the investment pie chart. Meanwhile, missing predictable down periods are just as important to exceptional long-term results as being invested when values rise.







<h3>60/40 101</h3>



The classic portfolio of 60% stocks and 40% bonds touted in articles by wealth managers and certified by textbooks on investing may no longer provide the same level of returns that it delivered previously. Or it may be going through a period where the direction of stocks and bonds is highly correlated – and it will at some point turn the corner to balanced performance.



From the 1980s until recently, a portfolio of 60% stocks and 40% bonds did well for investors and for good reason. The mix consistently provided investors with attractive risk-adjusted returns, with total returns often equal to or better than those of the S&amp;P 500 Index and with lower volatility. In a more natural market, rates come down (bond bull market) when the economy is weak, which brings stock prices down (stock bear market) and visa versa. The investor always has positions in a bull market to partially offset losses from the other side of the portfolio.







<h3>Recent History of Balanced Portfolios</h3>



But this strategy hasn’t really worked for decades. Many haven’t noticed because its not working has benefitted investors. Debt and equity prices have moved in the same direction. Both stocks and bonds have reached new highs through last year. Investors aren’t critical when they’re making money, but both markets joined hands long ago and have been mostly moving in the same direction. Here’s your evidence; in 1982, a 30 year-treasury bond was issued, paying over 14%. Today the 30-year is paying 3.65%.&nbsp; So the bond market, with slight ups and downs, has been strong for most of the last 40 years. The S&amp;P 500 in 1982 closed at 120. Today, the same index is at 3,675. Both markets, although not always trading hand in hand, more often than not rise and fall together.







<figure class="wp-block-image aligncenter size-large"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article2-1-1024x529.png" alt="" class="wp-image-50060"/><figcaption>Image: 60:40 Blackrock portfolio performance since 2011 (<a href="https://app.koyfin.com/share/70f688686a">Koyfin</a></figcaption></figure>







<h3>60/40 in 2022</h3>



The protection of hiding behind a broad, diversified index of stocks and conservative (supposedly uncorrelated) bonds is certainly showing its weakness this year. &nbsp;Persistent structural inflation adding to interest rates and negative GDP growth have battered both markets. It exposes that 60/40 is not perfect and that set-it and forget-it could cause many to have large drawdowns that will require huge percentage increases in the future.







<h3>What to Do</h3>



When the most powerful mover of assets transparently says they are going to do something that will impact the markets, believe that the odds are that they will. In other words, don’t fight the Fed. This could mean a slight to a total reduction in bonds, why watch your bond portfolio become a train wreck. And if you are in bond funds, a move to individual bonds offers the solace of at least knowing they mature at par.



The stock portfolio is trickier. The equities market will turn around when there are signs that the economy has bottomed out. Currently, there are some signs of weakness, but mostly expectations of great weakness as we know the Fed is resolved to tame inflation. Investors will race to be first in on the most recent dip. Selectively picking stocks that have a good reason to outperform now and be strong later when bullishness returns is likely smarter than holding a broad-based index. The broad-based economy is headed lower, so it stands to reason the broad-based indexes have further to fall.



Don’t be a stranger to analysts' reports on individual companies. Expert, unbiased analysis of sectors and individual stocks can help you uncover those that are unlinked to negative world events or are taking advantage of global changes.



Cash was trash when rates were near zero. Currently, a three-month T-Bill yields around 3.75%.&nbsp; Other short and safe securities are closer to 4%. When there is a recognizable turnaround, you’ll want ammunition. Keep some dry powder to be able to pounce; today’s short interest rates provide returns above those expected in the major indexes. Check with your broker to find out how to invest in short-term agencies, T-Bills, or broker CDs so you are ready for when the Fed says they are in a wait-and-see mode, for when GDP shows we are clearly not in a recession, for when corporate earnings are on the rise, and for when interest rates on bonds are closer to a level that produces low inflation numbers.







<h3>Take Away</h3>



Stocks and bonds have mostly been moving in the same direction for a very long time. Both were moving up, so no one noticed.



Cash is also an option in any portfolio, and you're now getting paid more. If the Fed continues to suggest rates are rising, it practically ensures lower bond prices. Move to cash or carefully selected equities. Look for quality analysis of sectors and stocks before jumping into a stock. News stories, statistics, and often research and analysis on small-cap opportunities are available for those <a href="https://www.channelchek.com/registration">signed-up</a> for Channelchek emails, along with many other no-cost perks.



<a href="mailto:phoffman@channelchek.com">Paul Hoffman</a>



Managing Editor, Channelchek















Sources



<a href="https://ycharts.com/indicators/30_year_treasury_rate#:~:text=30%20Year%20Treasury%20Rate%20is%20at%203.65%25%2C%20compared%20to%203.50,long%20term%20average%20of%204.78%25.">https://ycharts.com/indicators/30_year_treasury_rate#:~:text=30%20Year%20Treasury%20Rate%20is%20at%203.65%25%2C%20compared%20to%203.50,long%20term%20average%20of%204.78%25.</a>

<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="663" height="317" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-unicycle-paul-663.jpg" alt="" class="wp-image-50055" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-unicycle-paul-663.jpg 663w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-unicycle-paul-663-300x143.jpg 300w" sizes="(max-width: 663px) 100vw, 663px" /></figure></div>


<h2>Owning a Balanced Diversified Investment Portfolio Has Been Like Watching a Train Wreck</h2>



From the time that most realized the Fed would aggressively deal with inflation, watching the classic 60/40 balanced portfolio has been like watching a slow train wreck.



Diversification, balance, a 60/40 allocation have been the marching orders from those “in the know.” But what do you do when you’re terribly sure that the 40% in bonds will be worth less tomorrow, and the 60% in a standard stock index is more likely to be down than up? This is the question investors, wealth managers, and retirees have been faced with since early in 2022. The Chair of the Federal Reserve promised to raise rates, so the 40% allocation in bonds has been almost guaranteed by a Federal agency to perform worse than cash in your pillow case, and when interest rates rise, the economy does worse, which at first weighs down stock indexes.



Advisors want their customers to sleep better at night, so they tell them not to worry, no one can call the market, you don’t want to miss the up days. Every time, the markets have bailed them out, and there is no reason not to think that there won’t continue to be eventual increases on one side or the other of the investment pie chart. Meanwhile, missing predictable down periods are just as important to exceptional long-term results as being invested when values rise.







<h3>60/40 101</h3>



The classic portfolio of 60% stocks and 40% bonds touted in articles by wealth managers and certified by textbooks on investing may no longer provide the same level of returns that it delivered previously. Or it may be going through a period where the direction of stocks and bonds is highly correlated – and it will at some point turn the corner to balanced performance.



From the 1980s until recently, a portfolio of 60% stocks and 40% bonds did well for investors and for good reason. The mix consistently provided investors with attractive risk-adjusted returns, with total returns often equal to or better than those of the S&amp;P 500 Index and with lower volatility. In a more natural market, rates come down (bond bull market) when the economy is weak, which brings stock prices down (stock bear market) and visa versa. The investor always has positions in a bull market to partially offset losses from the other side of the portfolio.







<h3>Recent History of Balanced Portfolios</h3>



But this strategy hasn’t really worked for decades. Many haven’t noticed because its not working has benefitted investors. Debt and equity prices have moved in the same direction. Both stocks and bonds have reached new highs through last year. Investors aren’t critical when they’re making money, but both markets joined hands long ago and have been mostly moving in the same direction. Here’s your evidence; in 1982, a 30 year-treasury bond was issued, paying over 14%. Today the 30-year is paying 3.65%.&nbsp; So the bond market, with slight ups and downs, has been strong for most of the last 40 years. The S&amp;P 500 in 1982 closed at 120. Today, the same index is at 3,675. Both markets, although not always trading hand in hand, more often than not rise and fall together.






<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" width="1024" height="529" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article2-1-1024x529.png" alt="" class="wp-image-50060" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article2-1-1024x529.png 1024w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article2-1-300x155.png 300w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article2-1-768x397.png 768w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article2-1.png 1430w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Image: 60:40 Blackrock portfolio performance since 2011 (<a href="https://app.koyfin.com/share/70f688686a">Koyfin</a></figcaption></figure></div>






<h3>60/40 in 2022</h3>



The protection of hiding behind a broad, diversified index of stocks and conservative (supposedly uncorrelated) bonds is certainly showing its weakness this year. &nbsp;Persistent structural inflation adding to interest rates and negative GDP growth have battered both markets. It exposes that 60/40 is not perfect and that set-it and forget-it could cause many to have large drawdowns that will require huge percentage increases in the future.







<h3>What to Do</h3>



When the most powerful mover of assets transparently says they are going to do something that will impact the markets, believe that the odds are that they will. In other words, don’t fight the Fed. This could mean a slight to a total reduction in bonds, why watch your bond portfolio become a train wreck. And if you are in bond funds, a move to individual bonds offers the solace of at least knowing they mature at par.



The stock portfolio is trickier. The equities market will turn around when there are signs that the economy has bottomed out. Currently, there are some signs of weakness, but mostly expectations of great weakness as we know the Fed is resolved to tame inflation. Investors will race to be first in on the most recent dip. Selectively picking stocks that have a good reason to outperform now and be strong later when bullishness returns is likely smarter than holding a broad-based index. The broad-based economy is headed lower, so it stands to reason the broad-based indexes have further to fall.



Don’t be a stranger to analysts&#8217; reports on individual companies. Expert, unbiased analysis of sectors and individual stocks can help you uncover those that are unlinked to negative world events or are taking advantage of global changes.



Cash was trash when rates were near zero. Currently, a three-month T-Bill yields around 3.75%.&nbsp; Other short and safe securities are closer to 4%. When there is a recognizable turnaround, you’ll want ammunition. Keep some dry powder to be able to pounce; today’s short interest rates provide returns above those expected in the major indexes. Check with your broker to find out how to invest in short-term agencies, T-Bills, or broker CDs so you are ready for when the Fed says they are in a wait-and-see mode, for when GDP shows we are clearly not in a recession, for when corporate earnings are on the rise, and for when interest rates on bonds are closer to a level that produces low inflation numbers.







<h3>Take Away</h3>



Stocks and bonds have mostly been moving in the same direction for a very long time. Both were moving up, so no one noticed.



Cash is also an option in any portfolio, and you&#8217;re now getting paid more. If the Fed continues to suggest rates are rising, it practically ensures lower bond prices. Move to cash or carefully selected equities. Look for quality analysis of sectors and stocks before jumping into a stock. News stories, statistics, and often research and analysis on small-cap opportunities are available for those <a href="https://www.channelchek.com/registration">signed-up</a> for Channelchek emails, along with many other no-cost perks.



<a href="mailto:phoffman@channelchek.com">Paul Hoffman</a>



Managing Editor, Channelchek















Sources



<a href="https://ycharts.com/indicators/30_year_treasury_rate#:~:text=30%20Year%20Treasury%20Rate%20is%20at%203.65%25%2C%20compared%20to%203.50,long%20term%20average%20of%204.78%25.">https://ycharts.com/indicators/30_year_treasury_rate#:~:text=30%20Year%20Treasury%20Rate%20is%20at%203.65%25%2C%20compared%20to%203.50,long%20term%20average%20of%204.78%25.</a>

Owning a Balanced Diversified Investment Portfolio Has Been Like Watching a Train Wreck



From the time that most realized the Fed would aggressively deal with inflation, watching the classic 60/40 balanced portfolio has been like watching a slow train wreck.



Diversification, balance, a 60/40 allocation have been the marching orders from those “in the know.” But what do you do when you’re terribly sure that the 40% in bonds will be worth less tomorrow, and the 60% in a standard stock index is more likely to be down than up? This is the question investors, wealth managers, and retirees have been faced with since early in 2022. The Chair of the Federal Reserve promised to raise rates, so the 40% allocation in bonds has been almost guaranteed by a Federal agency to perform worse than cash in your pillow case, and when interest rates rise, the economy does worse, which at first weighs down stock indexes.



Advisors want their customers to sleep better at night, so they tell them not to worry, no one can call the market, you don’t want to miss the up days. Every time, the markets have bailed them out, and there is no reason not to think that there won’t continue to be eventual increases on one side or the other of the investment pie chart. Meanwhile, missing predictable down periods are just as important to exceptional long-term results as being invested when values rise.







60/40 101



The classic portfolio of 60% stocks and 40% bonds touted in articles by wealth managers and certified by textbooks on investing may no longer provide the same level of returns that it delivered previously. Or it may be going through a period where the direction of stocks and bonds is highly correlated – and it will at some point turn the corner to balanced performance.



From the 1980s until recently, a portfolio of 60% stocks and 40% bonds did well for investors and for good reason. The mix consistently provided investors with attractive risk-adjusted returns, with total returns often equal to or better than those of the S&amp;P 500 Index and with lower volatility. In a more natural market, rates come down (bond bull market) when the economy is weak, which brings stock prices down (stock bear market) and visa versa. The investor always has positions in a bull market to partially offset losses from the other side of the portfolio.







Recent History of Balanced Portfolios



But this strategy hasn’t really worked for decades. Many haven’t noticed because its not working has benefitted investors. Debt and equity prices have moved in the same direction. Both stocks and bonds have reached new highs through last year. Investors aren’t critical when they’re making money, but both markets joined hands long ago and have been mostly moving in the same direction. Here’s your evidence; in 1982, a 30 year-treasury bond was issued, paying over 14%. Today the 30-year is paying 3.65%.&nbsp; So the bond market, with slight ups and downs, has been strong for most of the last 40 years. The S&amp;P 500 in 1982 closed at 120. Today, the same index is at 3,675. Both markets, although not always trading hand in hand, more often than not rise and fall together.







Image: 60:40 Blackrock portfolio performance since 2011 (Koyfin






60/40 in 2022



The protection of hiding behind a broad, diversified index of stocks and conservative (supposedly uncorrelated) bonds is certainly showing its weakness this year. &nbsp;Persistent structural inflation adding to interest rates and negative GDP growth have battered both markets. It exposes that 60/40 is not perfect and that set-it and forget-it could cause many to have large drawdowns that will require huge percentage increases in the future.







What to Do



When the most powerful mover of assets transparently says they are going to do something that will impact the markets, believe that the odds are that they will. In other words, don’t fight the Fed. This could mean a slight to a total reduction in bonds, why watch your bond portfolio become a train wreck. And if you are in bond funds, a move to individual bonds offers the solace of at least knowing they mature at par.



The stock portfolio is trickier. The equities market will turn around when there are signs that the economy has bottomed out. Currently, there are some signs of weakness, but mostly expectations of great weakness as we know the Fed is resolved to tame inflation. Investors will race to be first in on the most recent dip. Selectively picking stocks that have a good reason to outperform now and be strong later when bullishness returns is likely smarter than holding a broad-based index. The broad-based economy is headed lower, so it stands to reason the broad-based indexes have further to fall.



Don’t be a stranger to analysts&#8217; reports on individual companies. Expert, unbiased analysis of sectors and individual stocks can help you uncover those that are unlinked to negative world events or are taking advantage of global changes.



Cash was trash when rates were near zero. Currently, a three-month T-Bill yields around 3.75%.&nbsp; Other short and safe securities are closer to 4%. When there is a recognizable turnaround, you’ll want ammunition. Keep some dry powder to be able to pounce; today’s short interest rates provide returns above those expected in the major indexes. Check with your broker to find out how to invest in short-term agencies, T-Bills, or broker CDs so you are ready for when the Fed says they are in a wait-and-see mode, for when GDP shows we are clearly not in a recession, for when corporate earnings are on the rise, and for when interest rates on bonds are closer to a level that produces low inflation numbers.







Take Away



Stocks and bonds have mostly been moving in the same direction for a very long time. Both were moving up, so no one noticed.



Cash is also an option in any portfolio, and you&#8217;re now getting paid more. If the Fed continues to suggest rates are rising, it practically ensures lower bond prices. Move to cash or carefully selected equities. Look for quality analysis of sectors and stocks before jumping into a stock. News stories, statistics, and often research and analysis on small-cap opportunities are available for those signed-up for Channelchek emails, along with many other no-cost perks.



Paul Hoffman



Managing Editor, Channelchek















Sources



https://ycharts.com/indicators/30_year_treasury_rate#:~:text=30%20Year%20Treasury%20Rate%20is%20at%203.65%25%2C%20compared%20to%203.50,long%20term%20average%20of%204.78%25.

Will Your 60/40 Balanced Portfolio Turn the Corner?

Asset Management

Bear Markets

Bonds

Portfolios

<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-ehtereum-board-663.jpg" alt="" class="wp-image-50017"/><figcaption>Image Credit: US Funds</figcaption></figure>



<h2>Decision To Switch Ethereum To Proof-Of-Stake May Have Been Based On Misleading Energy FUD</h2>



After countless delays, the Ethereum “Merge” finally took place last week, switching the blockchain protocol from proof-of-work (PoW) to proof-of-stake (PoS). 



What this means, in brief, is that Ethereum’s native coin, Ether (ETH)—the world’s second largest digital asset following Bitcoin (BTC)—can no longer be mined using a graphics processing unit (GPU). Instead, participants can choose to “stake” their ETH on the network. The Ethereum network then selects which of these participants, known as “validators,” gets to validate transactions, and if such validations are found to be accurate and legitimate, participants are rewarded with new ETH blocks.







<figure class="wp-block-table"><table><tbody><tr><td>This article was republished with permission from Frank Talk, a CEO Blog by Frank Holmes of U.S. Global Investors (<a href="https://www.channelchek.com/companies/grow">GROW</a>). Find more of Frank’s articles <a href="https://usfunds.com/investor-library/frank-talk-a-ceo-blog-by-frank-holmes/" target="_blank" rel="noreferrer noopener">here</a> – Originally published September 21, 2022</td></tr></tbody></table></figure>







So what’s the catch? Well, there are a couple of big ones:



1) To become a validator, participants must stake at least 32 ETH, the equivalent of $43,000 at today’s prices, and



2) They must stake them for years.



You can see, then, how the Merge has transformed ETH from a decentralized asset, available to any young gamer with access to a decent GPU, to more of a centralized, oligarchic asset, controlled by a relatively few participants who already own tens of thousands of dollars’ worth of ETH.



In fact, as CoinDesk reported last week, two large validators were responsible for over 40% of the new ETH blocks that were added in the hours post-Merge. Those validators are crypto exchange platform Coinbase and crypto staking service Lido Finance.







<h3>PoS Puts Ether in Regulators’ Crosshairs</h3>



But wait, there’s more. By converting to PoS, Ether risks being seen by U.S. regulators as a proof-of-security asset. Last Friday, the White House published its first-ever crypto regulatory framework, just a day after the merge was completed.



Gary Gensler, head of the Securities and Exchange Commission (SEC), has said on numerous occasions that PoW assets such as BTC are commodities, not securities, and should therefore not be regulated as securities.



That’s not the case with PoS, according to Gensler. Last week, the SEC chief commented that digital assets that allow investors to stake their holdings in exchange for new coins may qualify them as securities. The implication, of course, is that oversight of these coins may end up being just as rigorous as that of stocks, bonds, ETFs and other highly regulated assets. Besides ETH, other popular PoS cryptocurrencies include Cardano, Polkadot and Avalanche.



The May crash of Terra’s Luna coin, which triggered the collapse of overleveraged crypto lenders such as Celsius, Voyager and Three Arrows Capital, was a major driver of this year’s crypto winter. Lenders’ promises of high returns on investment have landed them in financial and legal hot water. It’s very important that the Ethereum Foundation not make the same mistakes and invite the same level of scrutiny.



As we like to say at U.S. Global Investors, government policy is a precursor to change. But the change, in this case, may not turn out to be favorable. Regulatory pronouncements could add to volatility within the nascent cryptocurrency industry.



In the table below, you can see that ETH was one of the most volatile assets for the one-day and 10-day trading periods as of August 31—more volatile, in fact, than BTC and shares of Tesla. I can’t help believing that’s due to investors’ apprehension of the merge and the regulatory uncertainty that surrounds it.







<h3>The DNA of Volatility</h3>



Standard Deviation For One-Year, As of August 30, 2022



<figure class="wp-block-table is-style-stripes"><table class="has-background" style="background-color:#bcd8e9"><thead><tr><th></th><th class="has-text-align-center" data-align="center">ONE-DAY</th><th class="has-text-align-center" data-align="center">TEN-DAY</th></tr></thead><tbody><tr><td>Gold Bullion</td><td class="has-text-align-center" data-align="center">±1%</td><td class="has-text-align-center" data-align="center">±3%</td></tr><tr><td>S&amp;P 500</td><td class="has-text-align-center" data-align="center">±1%</td><td class="has-text-align-center" data-align="center">±4%</td></tr><tr><td>Bitcoin</td><td class="has-text-align-center" data-align="center">±4%</td><td class="has-text-align-center" data-align="center">±11%</td></tr><tr><td>Tesla</td><td class="has-text-align-center" data-align="center">±4%</td><td class="has-text-align-center" data-align="center">±13%</td></tr><tr><td>Ethereum</td><td class="has-text-align-center" data-align="center">±5%</td><td class="has-text-align-center" data-align="center">±15%</td></tr><tr><td>MicroStrategy</td><td class="has-text-align-center" data-align="center">±6%</td><td class="has-text-align-center" data-align="center">±19%</td></tr></tbody></table></figure>







<h3>Energy FUD Contributed to Decision to Transition to PoS</h3>



If everything I’ve said up until this point is the case, why did Ethereum decision-makers choose to switch to PoS in the first place? Simply put, they folded under pressure from misleading charges that crypto mining, particularly BTC mining, consumes too much energy and is bad for the environment.



This is FUD, or fear, uncertainty and doubt. Yes, BTC mining requires electricity, but compared to nearly every other major industry—including finance and insurance, household appliances and gold mining—energy consumption is incredibly negligible, according to the Bitcoin Mining Council (BMC). What’s more, the BMC found that global BTC miners collectively use a higher sustainable energy mix than every major economy on the planet.







<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-1.png" alt="" class="wp-image-50048"/></figure>



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Supporters of the ETH Merge say that the move to PoS could cut the network’s energy usage by as much as 99.5%. None other than the World Economic Forum (WEF) praised the success of the merge last week, writing that crypto “has been waiting for a recalibration towards sustainability… for Web3 climate innovators, the new generation of environmental advocates, as well as U.S. climate efforts more broadly.”



But as many PoW proponents have rightfully pointed out, the GPUs that were previously used to mine ETH will likely now be used for other purposes post-merge, including mining other coins, high-performance computing and gaming. In reality, little to no energy will have been offset.







<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-2.png" alt="" class="wp-image-50049"/></figure>







The question is: Who is funding the FUD about PoW and energy usage? It’s a complicated question.



Last week, a group of environmental activists, including Greenpeace and the Environment Working Group (EWG), announced that it plans to spend $1 million on a new campaign to encourage Bitcoin to follow ETH’s lead and move to PoS. The campaign, titled “Change the Code, Not the Climate,” falsely claims that BTC “fuels” the climate crisis.



This is the same covert tactic used by Russian president Vladimir Putin, who over the years has funded environmental groups and non-governmental organizations (NGOs) in the West in an effort to discredit and undermine the U.S. fracking industry.







<h3>Surprise! Gold Is Still One of the Best Performing Assets of 2022</h3>



Switching gears, I want to say a few words on gold. BTC’s analogue cousin hit its lowest price since 2020 last week even as inflation remains near 40-year highs and recession fears persist. As I write this, the yellow metal is trading at around $1,666 an ounce, approximately 19% off its peak in March this year.



Some investors may read this and jump to the conclusion that gold is no longer a valuable asset during times of economic and financial uncertainty, but they would be mistaken. Although gold is down for the year, it’s nevertheless outperforming most major asset classes including Treasury bonds, U.S. corporate bonds, the S&amp;P 500 and tech stocks. The precious metal has therefore helped investors mitigate losses in other areas of their portfolio.







<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-3.png" alt="" class="wp-image-50050"/></figure>



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The latest report by the World Gold Council (WGC) also makes the case that gold could be a powerful investment in the face of a potential economic recession. The London-based group compared the performance of a number of asset classes during the past seven U.S. recessions going back to 1971, and it found that gold performed the best on average aside from government and corporate bonds.







<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-4.png" alt="" class="wp-image-50051"/></figure>



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That said, I still recommend a 10% weighting in gold, with 5% in bullion (bars, coins, jewelry) and 5% in high-quality gold mining stocks and funds. Remember to rebalance on a regular basis.











US Global Investors Disclaimer



The Bloomberg US Treasury Index measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury. Treasury bills are excluded by the maturity constraint but are part of a separate Short Treasury Index. The Bloomberg US Corporate Bond Index measures the investment grade, fixed-rate, taxable corporate bond market. It includes USD denominated securities publicly issued by US and non-US industrial, utility and financial issuers. The NASDAQ-100 Index is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed on the NASDAQ. The MSCI Japan Index is a free-float weighted equity JPY index. It was developed with a base value of 100 as of December 31, 1969. The MSCI Europe Index in EUR is a free-float weighted equity index measuring the performance of Europe Developed Markets. It was developed with a base value of 100 as of December 31, 1998. The MSCI USA Index is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1969. Bloomberg Commodity Index is calculated on an excess return basis and reflects commodity futures price movements. The index rebalances annually weighted 2/3 by trading volume and 1/3 by world production and weight-caps are applied at the commodity, sector and group level for diversification. The S&amp;P 500 is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.



Standard deviation is a quantity calculated to indicate the extent of deviation r a group as a whole.



Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (06/30/22):&nbsp;Tesla Inc.

<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="602" height="302" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-ehtereum-board-663.jpg" alt="" class="wp-image-50017" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-ehtereum-board-663.jpg 602w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc-news-ehtereum-board-663-300x150.jpg 300w" sizes="(max-width: 602px) 100vw, 602px" /><figcaption>Image Credit: US Funds</figcaption></figure></div>


<h2>Decision To Switch Ethereum To Proof-Of-Stake May Have Been Based On Misleading Energy FUD</h2>



After countless delays, the Ethereum “Merge” finally took place last week, switching the blockchain protocol from proof-of-work (PoW) to proof-of-stake (PoS). 



What this means, in brief, is that Ethereum’s native coin, Ether (ETH)—the world’s second largest digital asset following Bitcoin (BTC)—can no longer be mined using a graphics processing unit (GPU). Instead, participants can choose to “stake” their ETH on the network. The Ethereum network then selects which of these participants, known as “validators,” gets to validate transactions, and if such validations are found to be accurate and legitimate, participants are rewarded with new ETH blocks.







<figure class="wp-block-table"><table><tbody><tr><td>This article was republished with permission from Frank Talk, a CEO Blog by Frank Holmes of U.S. Global Investors (<a href="https://www.channelchek.com/companies/grow">GROW</a>). Find more of Frank’s articles <a href="https://usfunds.com/investor-library/frank-talk-a-ceo-blog-by-frank-holmes/" target="_blank" rel="noreferrer noopener">here</a> – Originally published September 21, 2022</td></tr></tbody></table></figure>







So what’s the catch? Well, there are a couple of big ones:



1) To become a validator, participants must stake at least 32 ETH, the equivalent of $43,000 at today’s prices, and



2) They must stake them for years.



You can see, then, how the Merge has transformed ETH from a decentralized asset, available to any young gamer with access to a decent GPU, to more of a centralized, oligarchic asset, controlled by a relatively few participants who already own tens of thousands of dollars’ worth of ETH.



In fact, as CoinDesk reported last week, two large validators were responsible for over 40% of the new ETH blocks that were added in the hours post-Merge. Those validators are crypto exchange platform Coinbase and crypto staking service Lido Finance.







<h3>PoS Puts Ether in Regulators’ Crosshairs</h3>



But wait, there’s more. By converting to PoS, Ether risks being seen by U.S. regulators as a proof-of-security asset. Last Friday, the White House published its first-ever crypto regulatory framework, just a day after the merge was completed.



Gary Gensler, head of the Securities and Exchange Commission (SEC), has said on numerous occasions that PoW assets such as BTC are commodities, not securities, and should therefore not be regulated as securities.



That’s not the case with PoS, according to Gensler. Last week, the SEC chief commented that digital assets that allow investors to stake their holdings in exchange for new coins may qualify them as securities. The implication, of course, is that oversight of these coins may end up being just as rigorous as that of stocks, bonds, ETFs and other highly regulated assets. Besides ETH, other popular PoS cryptocurrencies include Cardano, Polkadot and Avalanche.



The May crash of Terra’s Luna coin, which triggered the collapse of overleveraged crypto lenders such as Celsius, Voyager and Three Arrows Capital, was a major driver of this year’s crypto winter. Lenders’ promises of high returns on investment have landed them in financial and legal hot water. It’s very important that the Ethereum Foundation not make the same mistakes and invite the same level of scrutiny.



As we like to say at U.S. Global Investors, government policy is a precursor to change. But the change, in this case, may not turn out to be favorable. Regulatory pronouncements could add to volatility within the nascent cryptocurrency industry.



In the table below, you can see that ETH was one of the most volatile assets for the one-day and 10-day trading periods as of August 31—more volatile, in fact, than BTC and shares of Tesla. I can’t help believing that’s due to investors’ apprehension of the merge and the regulatory uncertainty that surrounds it.







<h3>The DNA of Volatility</h3>



Standard Deviation For One-Year, As of August 30, 2022



<figure class="wp-block-table is-style-stripes"><table class="has-background" style="background-color:#bcd8e9"><thead><tr><th></th><th class="has-text-align-center" data-align="center">ONE-DAY</th><th class="has-text-align-center" data-align="center">TEN-DAY</th></tr></thead><tbody><tr><td>Gold Bullion</td><td class="has-text-align-center" data-align="center">±1%</td><td class="has-text-align-center" data-align="center">±3%</td></tr><tr><td>S&amp;P 500</td><td class="has-text-align-center" data-align="center">±1%</td><td class="has-text-align-center" data-align="center">±4%</td></tr><tr><td>Bitcoin</td><td class="has-text-align-center" data-align="center">±4%</td><td class="has-text-align-center" data-align="center">±11%</td></tr><tr><td>Tesla</td><td class="has-text-align-center" data-align="center">±4%</td><td class="has-text-align-center" data-align="center">±13%</td></tr><tr><td>Ethereum</td><td class="has-text-align-center" data-align="center">±5%</td><td class="has-text-align-center" data-align="center">±15%</td></tr><tr><td>MicroStrategy</td><td class="has-text-align-center" data-align="center">±6%</td><td class="has-text-align-center" data-align="center">±19%</td></tr></tbody></table></figure>







<h3>Energy FUD Contributed to Decision to Transition to PoS</h3>



If everything I’ve said up until this point is the case, why did Ethereum decision-makers choose to switch to PoS in the first place? Simply put, they folded under pressure from misleading charges that crypto mining, particularly BTC mining, consumes too much energy and is bad for the environment.



This is FUD, or fear, uncertainty and doubt. Yes, BTC mining requires electricity, but compared to nearly every other major industry—including finance and insurance, household appliances and gold mining—energy consumption is incredibly negligible, according to the Bitcoin Mining Council (BMC). What’s more, the BMC found that global BTC miners collectively use a higher sustainable energy mix than every major economy on the planet.






<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="624" height="365" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-1.png" alt="" class="wp-image-50048" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-1.png 624w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-1-300x175.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></div>


<a href="https://url.emailprotection.link/?bKO7pbil9zbJ6BRciX672kC7ghgctScn9V1VKrxyAN0TwHOUOzRZpvj8glhMi7RR8AAo09mrj2hl0BD8tUrVXyCsLxBBivNFob-1vF6jTyhmMvbBQ3E2i4ZWdloZ_lZ0cp5PfTxrl3RQgRuka4C-duEZ0BBH36mZFkKB8JvhAMbG8UW2bVOhrGnUKGe6Fylw64lyFI_zLPNr6NUlwRPjHnA~~"></a>



Supporters of the ETH Merge say that the move to PoS could cut the network’s energy usage by as much as 99.5%. None other than the World Economic Forum (WEF) praised the success of the merge last week, writing that crypto “has been waiting for a recalibration towards sustainability… for Web3 climate innovators, the new generation of environmental advocates, as well as U.S. climate efforts more broadly.”



But as many PoW proponents have rightfully pointed out, the GPUs that were previously used to mine ETH will likely now be used for other purposes post-merge, including mining other coins, high-performance computing and gaming. In reality, little to no energy will have been offset.






<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="576" height="315" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-2.png" alt="" class="wp-image-50049" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-2.png 576w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-2-300x164.png 300w" sizes="(max-width: 576px) 100vw, 576px" /></figure></div>






The question is: Who is funding the FUD about PoW and energy usage? It’s a complicated question.



Last week, a group of environmental activists, including Greenpeace and the Environment Working Group (EWG), announced that it plans to spend $1 million on a new campaign to encourage Bitcoin to follow ETH’s lead and move to PoS. The campaign, titled “Change the Code, Not the Climate,” falsely claims that BTC “fuels” the climate crisis.



This is the same covert tactic used by Russian president Vladimir Putin, who over the years has funded environmental groups and non-governmental organizations (NGOs) in the West in an effort to discredit and undermine the U.S. fracking industry.







<h3>Surprise! Gold Is Still One of the Best Performing Assets of 2022</h3>



Switching gears, I want to say a few words on gold. BTC’s analogue cousin hit its lowest price since 2020 last week even as inflation remains near 40-year highs and recession fears persist. As I write this, the yellow metal is trading at around $1,666 an ounce, approximately 19% off its peak in March this year.



Some investors may read this and jump to the conclusion that gold is no longer a valuable asset during times of economic and financial uncertainty, but they would be mistaken. Although gold is down for the year, it’s nevertheless outperforming most major asset classes including Treasury bonds, U.S. corporate bonds, the S&amp;P 500 and tech stocks. The precious metal has therefore helped investors mitigate losses in other areas of their portfolio.






<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="624" height="393" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-3.png" alt="" class="wp-image-50050" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-3.png 624w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-3-300x189.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></div>


<a href="https://url.emailprotection.link/?bKO7pbil9zbJ6BRciX672kC7ghgctScn9V1VKrxyAN0TwHOUOzRZpvj8glhMi7RR8AAo09mrj2hl0BD8tUrVXyCsLxBBivNFob-1vF6jTyhmMvbBQ3E2i4ZWdloZ_lZ0cp5PfTxrl3RQgRuka4C-duEZ0BBH36mZFkKB8JvhAMbG8UW2bVOhrGnUKGe6Fylw64lyFI_zLPNr6NUlwRPjHnA~~"></a>



The latest report by the World Gold Council (WGC) also makes the case that gold could be a powerful investment in the face of a potential economic recession. The London-based group compared the performance of a number of asset classes during the past seven U.S. recessions going back to 1971, and it found that gold performed the best on average aside from government and corporate bonds.






<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="624" height="362" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-4.png" alt="" class="wp-image-50051" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-4.png 624w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/20220923-article1-4-300x174.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></div>


<a href="https://url.emailprotection.link/?bKO7pbil9zbJ6BRciX672kC7ghgctScn9V1VKrxyAN0TwHOUOzRZpvj8glhMi7RR8AAo09mrj2hl0BD8tUrVXyCsLxBBivNFob-1vF6jTyhmMvbBQ3E2i4ZWdloZ_lZ0cp5PfTxrl3RQgRuka4C-duEZ0BBH36mZFkKB8JvhAMbG8UW2bVOhrGnUKGe6Fylw64lyFI_zLPNr6NUlwRPjHnA~~"></a>



That said, I still recommend a 10% weighting in gold, with 5% in bullion (bars, coins, jewelry) and 5% in high-quality gold mining stocks and funds. Remember to rebalance on a regular basis.











US Global Investors Disclaimer



The Bloomberg US Treasury Index measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury. Treasury bills are excluded by the maturity constraint but are part of a separate Short Treasury Index. The Bloomberg US Corporate Bond Index measures the investment grade, fixed-rate, taxable corporate bond market. It includes USD denominated securities publicly issued by US and non-US industrial, utility and financial issuers. The NASDAQ-100 Index is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed on the NASDAQ. The MSCI Japan Index is a free-float weighted equity JPY index. It was developed with a base value of 100 as of December 31, 1969. The MSCI Europe Index in EUR is a free-float weighted equity index measuring the performance of Europe Developed Markets. It was developed with a base value of 100 as of December 31, 1998. The MSCI USA Index is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1969. Bloomberg Commodity Index is calculated on an excess return basis and reflects commodity futures price movements. The index rebalances annually weighted 2/3 by trading volume and 1/3 by world production and weight-caps are applied at the commodity, sector and group level for diversification. The S&amp;P 500 is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.



Standard deviation is a quantity calculated to indicate the extent of deviation r a group as a whole.



Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (06/30/22):&nbsp;Tesla Inc.

Image Credit: US Funds


Decision To Switch Ethereum To Proof-Of-Stake May Have Been Based On Misleading Energy FUD



After countless delays, the Ethereum “Merge” finally took place last week, switching the blockchain protocol from proof-of-work (PoW) to proof-of-stake (PoS). 



What this means, in brief, is that Ethereum’s native coin, Ether (ETH)—the world’s second largest digital asset following Bitcoin (BTC)—can no longer be mined using a graphics processing unit (GPU). Instead, participants can choose to “stake” their ETH on the network. The Ethereum network then selects which of these participants, known as “validators,” gets to validate transactions, and if such validations are found to be accurate and legitimate, participants are rewarded with new ETH blocks.







This article was republished with permission from Frank Talk, a CEO Blog by Frank Holmes of U.S. Global Investors (GROW). Find more of Frank’s articles here – Originally published September 21, 2022







So what’s the catch? Well, there are a couple of big ones:



1) To become a validator, participants must stake at least 32 ETH, the equivalent of $43,000 at today’s prices, and



2) They must stake them for years.



You can see, then, how the Merge has transformed ETH from a decentralized asset, available to any young gamer with access to a decent GPU, to more of a centralized, oligarchic asset, controlled by a relatively few participants who already own tens of thousands of dollars’ worth of ETH.



In fact, as CoinDesk reported last week, two large validators were responsible for over 40% of the new ETH blocks that were added in the hours post-Merge. Those validators are crypto exchange platform Coinbase and crypto staking service Lido Finance.







PoS Puts Ether in Regulators’ Crosshairs



But wait, there’s more. By converting to PoS, Ether risks being seen by U.S. regulators as a proof-of-security asset. Last Friday, the White House published its first-ever crypto regulatory framework, just a day after the merge was completed.



Gary Gensler, head of the Securities and Exchange Commission (SEC), has said on numerous occasions that PoW assets such as BTC are commodities, not securities, and should therefore not be regulated as securities.



That’s not the case with PoS, according to Gensler. Last week, the SEC chief commented that digital assets that allow investors to stake their holdings in exchange for new coins may qualify them as securities. The implication, of course, is that oversight of these coins may end up being just as rigorous as that of stocks, bonds, ETFs and other highly regulated assets. Besides ETH, other popular PoS cryptocurrencies include Cardano, Polkadot and Avalanche.



The May crash of Terra’s Luna coin, which triggered the collapse of overleveraged crypto lenders such as Celsius, Voyager and Three Arrows Capital, was a major driver of this year’s crypto winter. Lenders’ promises of high returns on investment have landed them in financial and legal hot water. It’s very important that the Ethereum Foundation not make the same mistakes and invite the same level of scrutiny.



As we like to say at U.S. Global Investors, government policy is a precursor to change. But the change, in this case, may not turn out to be favorable. Regulatory pronouncements could add to volatility within the nascent cryptocurrency industry.



In the table below, you can see that ETH was one of the most volatile assets for the one-day and 10-day trading periods as of August 31—more volatile, in fact, than BTC and shares of Tesla. I can’t help believing that’s due to investors’ apprehension of the merge and the regulatory uncertainty that surrounds it.







The DNA of Volatility



Standard Deviation For One-Year, As of August 30, 2022



ONE-DAYTEN-DAYGold Bullion±1%±3%S&amp;P 500±1%±4%Bitcoin±4%±11%Tesla±4%±13%Ethereum±5%±15%MicroStrategy±6%±19%







Energy FUD Contributed to Decision to Transition to PoS



If everything I’ve said up until this point is the case, why did Ethereum decision-makers choose to switch to PoS in the first place? Simply put, they folded under pressure from misleading charges that crypto mining, particularly BTC mining, consumes too much energy and is bad for the environment.



This is FUD, or fear, uncertainty and doubt. Yes, BTC mining requires electricity, but compared to nearly every other major industry—including finance and insurance, household appliances and gold mining—energy consumption is incredibly negligible, according to the Bitcoin Mining Council (BMC). What’s more, the BMC found that global BTC miners collectively use a higher sustainable energy mix than every major economy on the planet.














Supporters of the ETH Merge say that the move to PoS could cut the network’s energy usage by as much as 99.5%. None other than the World Economic Forum (WEF) praised the success of the merge last week, writing that crypto “has been waiting for a recalibration towards sustainability… for Web3 climate innovators, the new generation of environmental advocates, as well as U.S. climate efforts more broadly.”



But as many PoW proponents have rightfully pointed out, the GPUs that were previously used to mine ETH will likely now be used for other purposes post-merge, including mining other coins, high-performance computing and gaming. In reality, little to no energy will have been offset.














The question is: Who is funding the FUD about PoW and energy usage? It’s a complicated question.



Last week, a group of environmental activists, including Greenpeace and the Environment Working Group (EWG), announced that it plans to spend $1 million on a new campaign to encourage Bitcoin to follow ETH’s lead and move to PoS. The campaign, titled “Change the Code, Not the Climate,” falsely claims that BTC “fuels” the climate crisis.



This is the same covert tactic used by Russian president Vladimir Putin, who over the years has funded environmental groups and non-governmental organizations (NGOs) in the West in an effort to discredit and undermine the U.S. fracking industry.







Surprise! Gold Is Still One of the Best Performing Assets of 2022



Switching gears, I want to say a few words on gold. BTC’s analogue cousin hit its lowest price since 2020 last week even as inflation remains near 40-year highs and recession fears persist. As I write this, the yellow metal is trading at around $1,666 an ounce, approximately 19% off its peak in March this year.



Some investors may read this and jump to the conclusion that gold is no longer a valuable asset during times of economic and financial uncertainty, but they would be mistaken. Although gold is down for the year, it’s nevertheless outperforming most major asset classes including Treasury bonds, U.S. corporate bonds, the S&amp;P 500 and tech stocks. The precious metal has therefore helped investors mitigate losses in other areas of their portfolio.














The latest report by the World Gold Council (WGC) also makes the case that gold could be a powerful investment in the face of a potential economic recession. The London-based group compared the performance of a number of asset classes during the past seven U.S. recessions going back to 1971, and it found that gold performed the best on average aside from government and corporate bonds.














That said, I still recommend a 10% weighting in gold, with 5% in bullion (bars, coins, jewelry) and 5% in high-quality gold mining stocks and funds. Remember to rebalance on a regular basis.











US Global Investors Disclaimer



The Bloomberg US Treasury Index measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury. Treasury bills are excluded by the maturity constraint but are part of a separate Short Treasury Index. The Bloomberg US Corporate Bond Index measures the investment grade, fixed-rate, taxable corporate bond market. It includes USD denominated securities publicly issued by US and non-US industrial, utility and financial issuers. The NASDAQ-100 Index is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed on the NASDAQ. The MSCI Japan Index is a free-float weighted equity JPY index. It was developed with a base value of 100 as of December 31, 1969. The MSCI Europe Index in EUR is a free-float weighted equity index measuring the performance of Europe Developed Markets. It was developed with a base value of 100 as of December 31, 1998. The MSCI USA Index is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1969. Bloomberg Commodity Index is calculated on an excess return basis and reflects commodity futures price movements. The index rebalances annually weighted 2/3 by trading volume and 1/3 by world production and weight-caps are applied at the commodity, sector and group level for diversification. The S&amp;P 500 is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.



Standard deviation is a quantity calculated to indicate the extent of deviation r a group as a whole.



Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (06/30/22):&nbsp;Tesla Inc.

Did Fear, Uncertainty, and Doubt Cause Ethereum’s Merge?

Cryptocurrency

Ethereum

Gold

Republish

<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/dfmtf-logo-pr-3.png" alt="" class="wp-image-49985" /></figure>



<a href="http://www.channelchek.com/company/dfmtf">Research, News, and Market Data on DFMTF</a>



VANCOUVER, BC,&nbsp;Sept. 22, 2022&nbsp;/CNW/ - Defense Metals Corp. ("Defense Metals" or the "Company") (&nbsp;TSXV:&nbsp;<a href="https://www.newswire.ca/news-releases/defense-metals-corp-initial-drilling-results-yield-1-78-over-192-metres-total-rare-earth-oxide-at-wicheeda-including-3-13-over-73-metres-842419891.html#financial-modal">DEFN</a>)&nbsp; (OTCQB: DFMTF) (FSE: 35D) is pleased to announce results for the first two drill holes totalling 720 metres from the Company's 2022 diamond drill program that is still underway. To date, a total of 15 drill holes totalling 4,800 metres have been completed of a planned 18 holes totalling 5,000 metres (96% complete) designed to upgrade existing resource categories. Drill holes WI22-64 and WI22-62, the first and third holes drilled, were collared from the two sites within the northern area of the Wicheeda Rare Earth Element (REE) deposit.



<figure class="wp-block-image size-full is-resized"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022.jpg" alt="" class="wp-image-49986" width="456" height="303" /></figure>



Figure 1. Drill Section Holes WI22-64 (CNW Group/Defense Metals Corp.)



<figure class="wp-block-image size-full is-resized"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_1.jpg" alt="" class="wp-image-49987" width="459" height="308" /><figcaption>Figure 2. Drill Section Holes WI22-62 (CNW Group/Defense Metals Corp.)</figcaption></figure>



Infill drill hole&nbsp;WI22-64 (-65o&nbsp;dip / 204o&nbsp;azimuth)&nbsp;drilled southwest to depth within central area of the deposit yield a broad mineralized intercept of high-grade dolomite carbonate higher in the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging&nbsp;1.78% total rare earth oxide (TREO) over 192 metres; including 3.13% TREO over 73 metres1&nbsp;(Figure 1).&nbsp;The&nbsp;assays reported for WI22-64, one of the deepest holes drilled to date on the Wicheeda Project are partial from surface to a downhole depth of 284 metres. Assay results for the remaining 101 metres to end of hole at 384.5 metres are expected in the coming days.



Drill hole&nbsp;WI21-64 (-50o&nbsp;dip / 204o&nbsp;azimuth)&nbsp;collared 120 metres to the north of WI21-64, intersected a 109 metre drilled interval of mineralized dolomite carbonatite above a mixed xenolithic dolomite carbonatite and syenite at depth returning&nbsp;1.39% TREO over 167 metres; including 2.29% TREO over 48 metres1&nbsp;(Figure 2).



Kristopher Raffle, P.Geo. and Director and QP of Defense Metals stated:&nbsp;"We are pleased to have started receiving assays for our ongoing 2022 Wicheeda REE Deposit infill drilling campaign. These initial results compare very favourably to our PEA mineral resource cut-off of 0.5% TREO and continue to demonstrate continuity of mineralization over significant widths. We expect additional results in the coming days, weeks, and months ahead. With the 2022 drill campaign now 96% complete, we look forward to finishing a small number of remaining pit slope geotechnical and hydrogeological holes designed to inform any Preliminary Feasibility Studies."



Table 1. Wicheeda REE Deposit 2022 Diamond Drill Intercepts



<figure class="wp-block-image size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_2.jpg-1.png" alt="" class="wp-image-49990" /></figure>



About the Wicheeda REE Property



The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of&nbsp;Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.



The Wicheeda REE Project yielded a robust 2021 preliminary economic assessment technical report (PEA) that demonstrated an after-tax net present value (NPV@8%) of&nbsp;$517 million, and 18% IRR3. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of&nbsp;$440 million&nbsp;initial capital within 5 years.



<figure class="wp-block-table"><table><tbody><tr><td>____________________________</td></tr><tr><td>3&nbsp;Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.'s Issuer Profile on SEDAR (www.sedar.com).</td></tr></tbody></table></figure>



Methodology and QA/QC



The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at&nbsp;Langley&nbsp;(sample preparation) and&nbsp;Vancouver&nbsp;(ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.



Qualified Person



The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of&nbsp;Edmonton, AB, a director of Defense Metals and a "Qualified Person" as defined in NI 43-101.&nbsp;Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.&nbsp;



About&nbsp;Defense Metals Corp.



Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of&nbsp;mineral deposits containing metals and elements&nbsp;commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near&nbsp;Prince George, British Columbia, Canada. Defense Metals Corp. trades in&nbsp;Canada&nbsp;under the symbol "DEFN" on the TSX Venture Exchange, in&nbsp;the United States, under "DFMTF" on the OTCQB and in&nbsp;Germany&nbsp;on the Frankfurt Exchange under "35D".



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.



Cautionary Statement Regarding "Forward-Looking" Information



This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, the Company's plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, Wicheeda site visit and expected outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR at&nbsp;<a href="blank" target="_blank" rel="noreferrer noopener">www.sedar.com</a>. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), &nbsp;risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters),&nbsp;risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.



SOURCE Defense Metals Corp.



For further information: Todd Hanas, Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email:&nbsp;todd@blueskycorp.ca

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VANCOUVER, BC,&nbsp;Sept. 22, 2022&nbsp;/CNW/ &#8211; Defense Metals Corp. (&#8220;Defense Metals&#8221; or the &#8220;Company&#8220;) (&nbsp;TSXV:&nbsp;<a href="https://www.newswire.ca/news-releases/defense-metals-corp-initial-drilling-results-yield-1-78-over-192-metres-total-rare-earth-oxide-at-wicheeda-including-3-13-over-73-metres-842419891.html#financial-modal">DEFN</a>)&nbsp; (OTCQB: DFMTF) (FSE: 35D) is pleased to announce results for the first two drill holes totalling 720 metres from the Company&#8217;s 2022 diamond drill program that is still underway. To date, a total of 15 drill holes totalling 4,800 metres have been completed of a planned 18 holes totalling 5,000 metres (96% complete) designed to upgrade existing resource categories. Drill holes WI22-64 and WI22-62, the first and third holes drilled, were collared from the two sites within the northern area of the Wicheeda Rare Earth Element (REE) deposit.



<figure class="wp-block-image size-full is-resized"><img loading="lazy" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022.jpg" alt="" class="wp-image-49986" width="456" height="303" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022.jpg 917w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022-300x200.jpg 300w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022-768x512.jpg 768w" sizes="(max-width: 456px) 100vw, 456px" /></figure>



Figure 1. Drill Section Holes WI22-64 (CNW Group/Defense Metals Corp.)



<figure class="wp-block-image size-full is-resized"><img loading="lazy" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_1.jpg" alt="" class="wp-image-49987" width="459" height="308" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_1.jpg 917w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_1-300x202.jpg 300w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_1-768x516.jpg 768w" sizes="(max-width: 459px) 100vw, 459px" /><figcaption>Figure 2. Drill Section Holes WI22-62 (CNW Group/Defense Metals Corp.)</figcaption></figure>



Infill drill hole&nbsp;WI22-64 (-65o&nbsp;dip / 204o&nbsp;azimuth)&nbsp;drilled southwest to depth within central area of the deposit yield a broad mineralized intercept of high-grade dolomite carbonate higher in the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging&nbsp;1.78% total rare earth oxide (TREO) over 192 metres; including 3.13% TREO over 73 metres1&nbsp;(Figure 1).&nbsp;The&nbsp;assays reported for WI22-64, one of the deepest holes drilled to date on the Wicheeda Project are partial from surface to a downhole depth of 284 metres. Assay results for the remaining 101 metres to end of hole at 384.5 metres are expected in the coming days.



Drill hole&nbsp;WI21-64 (-50o&nbsp;dip / 204o&nbsp;azimuth)&nbsp;collared 120 metres to the north of WI21-64, intersected a 109 metre drilled interval of mineralized dolomite carbonatite above a mixed xenolithic dolomite carbonatite and syenite at depth returning&nbsp;1.39% TREO over 167 metres; including 2.29% TREO over 48 metres1&nbsp;(Figure 2).



Kristopher Raffle, P.Geo. and Director and QP of Defense Metals stated:&nbsp;&#8220;We are pleased to have started receiving assays for our ongoing 2022 Wicheeda REE Deposit infill drilling campaign. These initial results compare very favourably to our PEA mineral resource cut-off of 0.5% TREO and continue to demonstrate continuity of mineralization over significant widths. We expect additional results in the coming days, weeks, and months ahead. With the 2022 drill campaign now 96% complete, we look forward to finishing a small number of remaining pit slope geotechnical and hydrogeological holes designed to inform any Preliminary Feasibility Studies.&#8221;



Table 1. Wicheeda REE Deposit 2022 Diamond Drill Intercepts



<figure class="wp-block-image size-full"><img loading="lazy" width="795" height="236" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_2.jpg-1.png" alt="" class="wp-image-49990" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_2.jpg-1.png 795w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_2.jpg-1-300x89.png 300w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/defn_9222022_2.jpg-1-768x228.png 768w" sizes="(max-width: 795px) 100vw, 795px" /></figure>



About the Wicheeda REE Property



The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of&nbsp;Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.



The Wicheeda REE Project yielded a robust 2021 preliminary economic assessment technical report (PEA) that demonstrated an after-tax net present value (NPV@8%) of&nbsp;$517 million, and 18% IRR3. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of&nbsp;$440 million&nbsp;initial capital within 5 years.



<figure class="wp-block-table"><table><tbody><tr><td>____________________________</td></tr><tr><td>3&nbsp;Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.&#8217;s Issuer Profile on SEDAR (www.sedar.com).</td></tr></tbody></table></figure>



Methodology and QA/QC



The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at&nbsp;Langley&nbsp;(sample preparation) and&nbsp;Vancouver&nbsp;(ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.



Qualified Person



The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of&nbsp;Edmonton, AB, a director of Defense Metals and a &#8220;Qualified Person&#8221; as defined in NI 43-101.&nbsp;Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.&nbsp;



About&nbsp;Defense Metals Corp.



Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of&nbsp;mineral deposits containing metals and elements&nbsp;commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near&nbsp;Prince George, British Columbia, Canada. Defense Metals Corp. trades in&nbsp;Canada&nbsp;under the symbol &#8220;DEFN&#8221; on the TSX Venture Exchange, in&nbsp;the United States, under &#8220;DFMTF&#8221; on the OTCQB and in&nbsp;Germany&nbsp;on the Frankfurt Exchange under &#8220;35D&#8221;.



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.



Cautionary Statement Regarding &#8220;Forward-Looking&#8221; Information



This news release contains &#8220;forward‐looking information or statements&#8221; within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, the Company&#8217;s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, Wicheeda site visit and expected outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company&#8217;s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company&#8217;s profile on SEDAR at&nbsp;<a href="blank" target="_blank" rel="noreferrer noopener">www.sedar.com</a>. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), &nbsp;risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters),&nbsp;risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company&#8217;s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.



SOURCE Defense Metals Corp.



For further information: Todd Hanas, Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email:&nbsp;todd@blueskycorp.ca

Research, News, and Market Data on DFMTF



VANCOUVER, BC,&nbsp;Sept. 22, 2022&nbsp;/CNW/ &#8211; Defense Metals Corp. (&#8220;Defense Metals&#8221; or the &#8220;Company&#8220;) (&nbsp;TSXV:&nbsp;DEFN)&nbsp; (OTCQB: DFMTF) (FSE: 35D) is pleased to announce results for the first two drill holes totalling 720 metres from the Company&#8217;s 2022 diamond drill program that is still underway. To date, a total of 15 drill holes totalling 4,800 metres have been completed of a planned 18 holes totalling 5,000 metres (96% complete) designed to upgrade existing resource categories. Drill holes WI22-64 and WI22-62, the first and third holes drilled, were collared from the two sites within the northern area of the Wicheeda Rare Earth Element (REE) deposit.







Figure 1. Drill Section Holes WI22-64 (CNW Group/Defense Metals Corp.)



Figure 2. Drill Section Holes WI22-62 (CNW Group/Defense Metals Corp.)



Infill drill hole&nbsp;WI22-64 (-65o&nbsp;dip / 204o&nbsp;azimuth)&nbsp;drilled southwest to depth within central area of the deposit yield a broad mineralized intercept of high-grade dolomite carbonate higher in the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging&nbsp;1.78% total rare earth oxide (TREO) over 192 metres; including 3.13% TREO over 73 metres1&nbsp;(Figure 1).&nbsp;The&nbsp;assays reported for WI22-64, one of the deepest holes drilled to date on the Wicheeda Project are partial from surface to a downhole depth of 284 metres. Assay results for the remaining 101 metres to end of hole at 384.5 metres are expected in the coming days.



Drill hole&nbsp;WI21-64 (-50o&nbsp;dip / 204o&nbsp;azimuth)&nbsp;collared 120 metres to the north of WI21-64, intersected a 109 metre drilled interval of mineralized dolomite carbonatite above a mixed xenolithic dolomite carbonatite and syenite at depth returning&nbsp;1.39% TREO over 167 metres; including 2.29% TREO over 48 metres1&nbsp;(Figure 2).



Kristopher Raffle, P.Geo. and Director and QP of Defense Metals stated:&nbsp;&#8220;We are pleased to have started receiving assays for our ongoing 2022 Wicheeda REE Deposit infill drilling campaign. These initial results compare very favourably to our PEA mineral resource cut-off of 0.5% TREO and continue to demonstrate continuity of mineralization over significant widths. We expect additional results in the coming days, weeks, and months ahead. With the 2022 drill campaign now 96% complete, we look forward to finishing a small number of remaining pit slope geotechnical and hydrogeological holes designed to inform any Preliminary Feasibility Studies.&#8221;



Table 1. Wicheeda REE Deposit 2022 Diamond Drill Intercepts







About the Wicheeda REE Property



The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of&nbsp;Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.



The Wicheeda REE Project yielded a robust 2021 preliminary economic assessment technical report (PEA) that demonstrated an after-tax net present value (NPV@8%) of&nbsp;$517 million, and 18% IRR3. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of&nbsp;$440 million&nbsp;initial capital within 5 years.



____________________________3&nbsp;Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.&#8217;s Issuer Profile on SEDAR (www.sedar.com).



Methodology and QA/QC



The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at&nbsp;Langley&nbsp;(sample preparation) and&nbsp;Vancouver&nbsp;(ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.



Qualified Person



The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of&nbsp;Edmonton, AB, a director of Defense Metals and a &#8220;Qualified Person&#8221; as defined in NI 43-101.&nbsp;Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.&nbsp;



About&nbsp;Defense Metals Corp.



Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of&nbsp;mineral deposits containing metals and elements&nbsp;commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near&nbsp;Prince George, British Columbia, Canada. Defense Metals Corp. trades in&nbsp;Canada&nbsp;under the symbol &#8220;DEFN&#8221; on the TSX Venture Exchange, in&nbsp;the United States, under &#8220;DFMTF&#8221; on the OTCQB and in&nbsp;Germany&nbsp;on the Frankfurt Exchange under &#8220;35D&#8221;.



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.



Cautionary Statement Regarding &#8220;Forward-Looking&#8221; Information



This news release contains &#8220;forward‐looking information or statements&#8221; within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, the Company&#8217;s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, Wicheeda site visit and expected outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company&#8217;s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company&#8217;s profile on SEDAR at&nbsp;www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), &nbsp;risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters),&nbsp;risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company&#8217;s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.



SOURCE Defense Metals Corp.



For further information: Todd Hanas, Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email:&nbsp;todd@blueskycorp.ca

Release - Defense Metals Corp. Initial Drilling Results Yield 1.78% Over 192 Metres Total Rare Earth Oxide at Wicheeda; Including 3.13% Over 73 Metres

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<a href="http://www.channelchek.com/company/ggiff">Research, News, and Market Data on GGIFF</a>



VANCOUVER, BC,&nbsp;Sept. 22, 2022&nbsp;/CNW/ - Garibaldi Resources (&nbsp;TSXV:&nbsp;<a href="https://www.newswire.ca/news-releases/garibaldi-intersects-semi-massive-nickel-sulphides-below-e-amp-l-872888589.html#financial-modal">GGI</a>) (the "Company" or "Garibaldi") is pleased to announce that diamond drill-hole EL-22-97b&nbsp;has intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by taxitic and orbicular-textured gabbro and pyroxene peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&amp;L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&amp;L Intrusion, coincident with a large-scale low resistivity / elevated conductivity ZTEM anomaly identified last season by Geotech's deep-penetrating ZTEM survey.



<figure class="wp-block-image aligncenter size-large is-resized"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff-1024x657.jpg" alt="" class="wp-image-49980" width="756" height="484" /></figure>



<a href="https://www.newswire.ca/news-releases/garibaldi-intersects-semi-massive-nickel-sulphides-below-e-amp-l-872888589.html"></a>



Figure 1 - West facing section showing drill trace EL-22-97b which intersected two intervals of E&amp;L gabbro 200m down plunge of previous drilling . Both intersections of gabbro contain sections of well mineralized E&amp;L gabbro with disseminated, blebby, and semi massive sulphide. The gabbro sections occur along the plane of the E&amp;L intrusion coincident with a large scale ZTEM resistivity anomaly more than 3 km in depth. (CNW Group/Garibaldi Resources Corp.)



Garibaldi's 2022 drill program is focused on testing several large-scale low resistivity ZTEM anomalies within the Company's 100% owned E&amp;L nickel-copper-cobalt massive sulphide project. E&amp;L mineralization also contains gold, silver, platinum group metals platinum, palladium (PGM'S) together with rhodium, iridium, and ruthenium (collectively termed PGEs). The 180 sq. km. claim group is centered in the heart of the Eskay District within the Golden Triangle of&nbsp;Northwest British Columbia.



The latest intercept is in the plane of the E&amp;L Intrusion, and rests immediately below the Eastern Extension mineralization associated with a differentiated sequence of peridotitic and gabbroic rocks. The complex orbicular textures in the gabbros are characteristic of the E&amp;L Intrusion in both the Eastern Extension and the newly identified root zone ~200m below. The target was drilled as a major step-out from the known intrusion to establish whether a low resistivity ZTEM anomaly beneath E&amp;L corresponds to the plane of additional mineralized segments of the intrusion within the plane of prospective geology. The discovery of mineralized taxitic and orbicular-textured gabbros and pyroxene peridotite expands the potential scale of mineralization well below the previously drill tested 600 x 650 meter plane of the mineralized E&amp;L Intrusion. Most importantly, drill hole EL-22-97b&nbsp;demonstrates the potential for mineralization coincident with the plane of the E&amp;L intrusion at depth within the anomalous zone identified by the ZTEM survey.



Exploration Highlights:



<ul><li>Hole EL-22-97b&nbsp;extends E&amp;L mineralization more than 205 meters down trend from previous drilling. The drill hole was collared&nbsp;383m&nbsp;downslope from EL-20-91 and 92, and&nbsp;216m&nbsp;east of and below the adit, cutting through the plane of the E&amp;L Intrusion, allowing for more efficient drilling operations and providing an optimal Bore-hole Electro-Magnetic (BH-EM) platform for surveying.</li><li>E&amp;L intrusion rock types were intercepted from 440 –&nbsp;480m, and 589 –&nbsp;609m&nbsp;with semi-massive sulphides occurring at 472.2 and&nbsp;597.3m. Portable XRF measurements taken on these sulphide grains returned 2.8% Ni and 1.1% Ni, respectively. *</li><li>The sulphide-bearing rocks of the intrusion plunge for more than 800 meters and remain open beneath the E&amp;L Intrusion.</li><li>These intercepts of mineralized E&amp;L type rocks are in the plane of the E&amp;L Intrusion, and coincide with the footprint of the previously modelled ZTEM anomaly, which extends for more than 3 km.</li><li>The drill hole was designed to test the plane of the E&amp;L Intrusion at depth below previous drilling and successfully intercepted two intervals of E&amp;L gabbro, which contain sections of disseminated, blebby and semi massive sulphides.</li><li>The hole has been lined from top to bottom with PVC to facilitate Borehole Electromagnetic surveys.</li></ul>



Jeremy Hanson, Garibaldi VP-Exploration, stated: "We are very encouraged by the results from EL-22-97b, &nbsp;we took a&nbsp;200m&nbsp;step-out down plunge and intercepted multiple intervals of mineralized E&amp;L type intrusive rocks with disseminated and semi-massive nickel bearing sulphides. Typically, when we find disseminated and semi-massive sulphides, massive sulphides are not too far away."&nbsp;



Dr.&nbsp;Peter Lightfoot, Technical Advisor to Garibaldi, stated: "The complex assemblage of taxitic and orbicular-textured gabbros together with olivine pyroxenite encountered in drill hole EL-22-97b&nbsp;indicates that the E&amp;L mineral system extends to depth along the predicted planar path. Significant exploration step-outs to test this plane will greatly improve our efforts to locate extensions of mineral zones using borehole EM methods."



Nickel Mountain Section



Steve Regoci, Garibaldi CEO stated "This first hole, provides strong support for the proposition that ZTEM responses may represent the expression of a mineralized system. We're anxious to drill test the deep seated ZTEM targets along the 15km base metal corridor of the NMGC to Mount Shirley for sulphide minerals."&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



EL-22-97 was initially collared upslope of the adit at 396390 mE 6271118mN, 1567 masl, at 367°/-70° but failed to progress through difficult ground at&nbsp;232m. The hole was abandoned well before target depth. EL-22-97b&nbsp;was recollared&nbsp;213m&nbsp;downslope at 396442 mE, 6270938mN,&nbsp;1463m&nbsp;masl at 342°/-50°. This hole succeeded to target depth and encountered mineralization at the initial area of interest targeted in EL-22-97.



Quality Assurance/Quality Control (QA/QC)&nbsp;



Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&amp;L Nickel Mountain Project using best industry practice. All core is logged by a geoscientist and selected intervals sampled. HQ and NQ drill core is sawn in half and each sample half is placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in&nbsp;Smithers, British Columbia. Chain of custody of samples is recorded and maintained for all samples from the drill to the laboratory.



All diamond drilling sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process. Samples were submitted to SGS Canada Inc. in&nbsp;Vancouver, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), Fire Assay (FA) and Leco methods. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by sodium peroxide fusion and ICP-MS. The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by&nbsp;Jeremy Hanson, a qualified person as defined by NI-43-101. *XRF measurements were taken with a Niton XL5. XRF measurements analyze a very small, select section of material approximately 0.16cm2&nbsp;per measurement and results are not representative of the overall rock or material.



Qualified Person &amp; Data Verification



Jeremy Hanson, P.Geo., a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.



About Garibaldi



Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in&nbsp;British Columbia&nbsp;and&nbsp;Mexico.



We seek safe harbor.



GARIBALDI RESOURCES CORP.



Per:&nbsp;"Steve Regoci" Steve Regoci, President



Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



SOURCE Garibaldi Resources Corp.



For further information: GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street, Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com

<div class="wp-block-image">
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<a href="http://www.channelchek.com/company/ggiff">Research, News, and Market Data on GGIFF</a>



VANCOUVER, BC,&nbsp;Sept. 22, 2022&nbsp;/CNW/ &#8211; Garibaldi Resources (&nbsp;TSXV:&nbsp;<a href="https://www.newswire.ca/news-releases/garibaldi-intersects-semi-massive-nickel-sulphides-below-e-amp-l-872888589.html#financial-modal">GGI</a>) (the &#8220;Company&#8221; or &#8220;Garibaldi&#8220;) is pleased to announce that diamond drill-hole EL-22-97b&nbsp;has intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by taxitic and orbicular-textured gabbro and pyroxene peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&amp;L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&amp;L Intrusion, coincident with a large-scale low resistivity / elevated conductivity ZTEM anomaly identified last season by Geotech&#8217;s deep-penetrating ZTEM survey.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff-1024x657.jpg" alt="" class="wp-image-49980" width="756" height="484" srcset="https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff-1024x657.jpg 1024w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff-300x193.jpg 300w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff-768x493.jpg 768w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff-1536x986.jpg 1536w, https://dashboard.channelchek.com/wp-content/uploads/2022/09/ggiff.jpg 1563w" sizes="(max-width: 756px) 100vw, 756px" /></figure></div>


<a href="https://www.newswire.ca/news-releases/garibaldi-intersects-semi-massive-nickel-sulphides-below-e-amp-l-872888589.html"></a>



Figure 1 &#8211; West facing section showing drill trace EL-22-97b which intersected two intervals of E&amp;L gabbro 200m down plunge of previous drilling . Both intersections of gabbro contain sections of well mineralized E&amp;L gabbro with disseminated, blebby, and semi massive sulphide. The gabbro sections occur along the plane of the E&amp;L intrusion coincident with a large scale ZTEM resistivity anomaly more than 3 km in depth. (CNW Group/Garibaldi Resources Corp.)



Garibaldi&#8217;s 2022 drill program is focused on testing several large-scale low resistivity ZTEM anomalies within the Company&#8217;s 100% owned E&amp;L nickel-copper-cobalt massive sulphide project. E&amp;L mineralization also contains gold, silver, platinum group metals platinum, palladium (PGM&#8217;S) together with rhodium, iridium, and ruthenium (collectively termed PGEs). The 180 sq. km. claim group is centered in the heart of the Eskay District within the Golden Triangle of&nbsp;Northwest British Columbia.



The latest intercept is in the plane of the E&amp;L Intrusion, and rests immediately below the Eastern Extension mineralization associated with a differentiated sequence of peridotitic and gabbroic rocks. The complex orbicular textures in the gabbros are characteristic of the E&amp;L Intrusion in both the Eastern Extension and the newly identified root zone ~200m below. The target was drilled as a major step-out from the known intrusion to establish whether a low resistivity ZTEM anomaly beneath E&amp;L corresponds to the plane of additional mineralized segments of the intrusion within the plane of prospective geology. The discovery of mineralized taxitic and orbicular-textured gabbros and pyroxene peridotite expands the potential scale of mineralization well below the previously drill tested 600 x 650 meter plane of the mineralized E&amp;L Intrusion. Most importantly, drill hole EL-22-97b&nbsp;demonstrates the potential for mineralization coincident with the plane of the E&amp;L intrusion at depth within the anomalous zone identified by the ZTEM survey.



Exploration Highlights:



<ul><li>Hole EL-22-97b&nbsp;extends E&amp;L mineralization more than 205 meters down trend from previous drilling. The drill hole was collared&nbsp;383m&nbsp;downslope from EL-20-91 and 92, and&nbsp;216m&nbsp;east of and below the adit, cutting through the plane of the E&amp;L Intrusion, allowing for more efficient drilling operations and providing an optimal Bore-hole Electro-Magnetic (BH-EM) platform for surveying.</li><li>E&amp;L intrusion rock types were intercepted from 440 –&nbsp;480m, and 589 –&nbsp;609m&nbsp;with semi-massive sulphides occurring at 472.2 and&nbsp;597.3m. Portable XRF measurements taken on these sulphide grains returned 2.8% Ni and 1.1% Ni, respectively. *</li><li>The sulphide-bearing rocks of the intrusion plunge for more than 800 meters and remain open beneath the E&amp;L Intrusion.</li><li>These intercepts of mineralized E&amp;L type rocks are in the plane of the E&amp;L Intrusion, and coincide with the footprint of the previously modelled ZTEM anomaly, which extends for more than 3 km.</li><li>The drill hole was designed to test the plane of the E&amp;L Intrusion at depth below previous drilling and successfully intercepted two intervals of E&amp;L gabbro, which contain sections of disseminated, blebby and semi massive sulphides.</li><li>The hole has been lined from top to bottom with PVC to facilitate Borehole Electromagnetic surveys.</li></ul>



Jeremy Hanson, Garibaldi VP-Exploration, stated: &#8220;We are very encouraged by the results from EL-22-97b, &nbsp;we took a&nbsp;200m&nbsp;step-out down plunge and intercepted multiple intervals of mineralized E&amp;L type intrusive rocks with disseminated and semi-massive nickel bearing sulphides. Typically, when we find disseminated and semi-massive sulphides, massive sulphides are not too far away.&#8221;&nbsp;



Dr.&nbsp;Peter Lightfoot, Technical Advisor to Garibaldi, stated: &#8220;The complex assemblage of taxitic and orbicular-textured gabbros together with olivine pyroxenite encountered in drill hole EL-22-97b&nbsp;indicates that the E&amp;L mineral system extends to depth along the predicted planar path. Significant exploration step-outs to test this plane will greatly improve our efforts to locate extensions of mineral zones using borehole EM methods.&#8221;



Nickel Mountain Section



Steve Regoci, Garibaldi CEO stated &#8220;This first hole, provides strong support for the proposition that ZTEM responses may represent the expression of a mineralized system. We&#8217;re anxious to drill test the deep seated ZTEM targets along the 15km base metal corridor of the NMGC to Mount Shirley for sulphide minerals.&#8221;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



EL-22-97 was initially collared upslope of the adit at 396390 mE 6271118mN, 1567 masl, at 367°/-70° but failed to progress through difficult ground at&nbsp;232m. The hole was abandoned well before target depth. EL-22-97b&nbsp;was recollared&nbsp;213m&nbsp;downslope at 396442 mE, 6270938mN,&nbsp;1463m&nbsp;masl at 342°/-50°. This hole succeeded to target depth and encountered mineralization at the initial area of interest targeted in EL-22-97.



Quality Assurance/Quality Control (QA/QC)&nbsp;



Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&amp;L Nickel Mountain Project using best industry practice. All core is logged by a geoscientist and selected intervals sampled. HQ and NQ drill core is sawn in half and each sample half is placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in&nbsp;Smithers, British Columbia. Chain of custody of samples is recorded and maintained for all samples from the drill to the laboratory.



All diamond drilling sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process. Samples were submitted to SGS Canada Inc. in&nbsp;Vancouver, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), Fire Assay (FA) and Leco methods. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by sodium peroxide fusion and ICP-MS. The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by&nbsp;Jeremy Hanson, a qualified person as defined by NI-43-101. *XRF measurements were taken with a Niton XL5. XRF measurements analyze a very small, select section of material approximately 0.16cm2&nbsp;per measurement and results are not representative of the overall rock or material.



Qualified Person &amp; Data Verification



Jeremy Hanson, P.Geo., a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.



About Garibaldi



Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in&nbsp;British Columbia&nbsp;and&nbsp;Mexico.



We seek safe harbor.



GARIBALDI RESOURCES CORP.



Per:&nbsp;&#8220;Steve Regoci&#8221; Steve Regoci, President



Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



SOURCE Garibaldi Resources Corp.



For further information: GARIBALDI RESOURCES CORP., 1150 &#8211; 409 Granville Street, Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com

Research, News, and Market Data on GGIFF



VANCOUVER, BC,&nbsp;Sept. 22, 2022&nbsp;/CNW/ &#8211; Garibaldi Resources (&nbsp;TSXV:&nbsp;GGI) (the &#8220;Company&#8221; or &#8220;Garibaldi&#8220;) is pleased to announce that diamond drill-hole EL-22-97b&nbsp;has intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by taxitic and orbicular-textured gabbro and pyroxene peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&amp;L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&amp;L Intrusion, coincident with a large-scale low resistivity / elevated conductivity ZTEM anomaly identified last season by Geotech&#8217;s deep-penetrating ZTEM survey.










Figure 1 &#8211; West facing section showing drill trace EL-22-97b which intersected two intervals of E&amp;L gabbro 200m down plunge of previous drilling . Both intersections of gabbro contain sections of well mineralized E&amp;L gabbro with disseminated, blebby, and semi massive sulphide. The gabbro sections occur along the plane of the E&amp;L intrusion coincident with a large scale ZTEM resistivity anomaly more than 3 km in depth. (CNW Group/Garibaldi Resources Corp.)



Garibaldi&#8217;s 2022 drill program is focused on testing several large-scale low resistivity ZTEM anomalies within the Company&#8217;s 100% owned E&amp;L nickel-copper-cobalt massive sulphide project. E&amp;L mineralization also contains gold, silver, platinum group metals platinum, palladium (PGM&#8217;S) together with rhodium, iridium, and ruthenium (collectively termed PGEs). The 180 sq. km. claim group is centered in the heart of the Eskay District within the Golden Triangle of&nbsp;Northwest British Columbia.



The latest intercept is in the plane of the E&amp;L Intrusion, and rests immediately below the Eastern Extension mineralization associated with a differentiated sequence of peridotitic and gabbroic rocks. The complex orbicular textures in the gabbros are characteristic of the E&amp;L Intrusion in both the Eastern Extension and the newly identified root zone ~200m below. The target was drilled as a major step-out from the known intrusion to establish whether a low resistivity ZTEM anomaly beneath E&amp;L corresponds to the plane of additional mineralized segments of the intrusion within the plane of prospective geology. The discovery of mineralized taxitic and orbicular-textured gabbros and pyroxene peridotite expands the potential scale of mineralization well below the previously drill tested 600 x 650 meter plane of the mineralized E&amp;L Intrusion. Most importantly, drill hole EL-22-97b&nbsp;demonstrates the potential for mineralization coincident with the plane of the E&amp;L intrusion at depth within the anomalous zone identified by the ZTEM survey.



Exploration Highlights:



Hole EL-22-97b&nbsp;extends E&amp;L mineralization more than 205 meters down trend from previous drilling. The drill hole was collared&nbsp;383m&nbsp;downslope from EL-20-91 and 92, and&nbsp;216m&nbsp;east of and below the adit, cutting through the plane of the E&amp;L Intrusion, allowing for more efficient drilling operations and providing an optimal Bore-hole Electro-Magnetic (BH-EM) platform for surveying.E&amp;L intrusion rock types were intercepted from 440 –&nbsp;480m, and 589 –&nbsp;609m&nbsp;with semi-massive sulphides occurring at 472.2 and&nbsp;597.3m. Portable XRF measurements taken on these sulphide grains returned 2.8% Ni and 1.1% Ni, respectively. *The sulphide-bearing rocks of the intrusion plunge for more than 800 meters and remain open beneath the E&amp;L Intrusion.These intercepts of mineralized E&amp;L type rocks are in the plane of the E&amp;L Intrusion, and coincide with the footprint of the previously modelled ZTEM anomaly, which extends for more than 3 km.The drill hole was designed to test the plane of the E&amp;L Intrusion at depth below previous drilling and successfully intercepted two intervals of E&amp;L gabbro, which contain sections of disseminated, blebby and semi massive sulphides.The hole has been lined from top to bottom with PVC to facilitate Borehole Electromagnetic surveys.



Jeremy Hanson, Garibaldi VP-Exploration, stated: &#8220;We are very encouraged by the results from EL-22-97b, &nbsp;we took a&nbsp;200m&nbsp;step-out down plunge and intercepted multiple intervals of mineralized E&amp;L type intrusive rocks with disseminated and semi-massive nickel bearing sulphides. Typically, when we find disseminated and semi-massive sulphides, massive sulphides are not too far away.&#8221;&nbsp;



Dr.&nbsp;Peter Lightfoot, Technical Advisor to Garibaldi, stated: &#8220;The complex assemblage of taxitic and orbicular-textured gabbros together with olivine pyroxenite encountered in drill hole EL-22-97b&nbsp;indicates that the E&amp;L mineral system extends to depth along the predicted planar path. Significant exploration step-outs to test this plane will greatly improve our efforts to locate extensions of mineral zones using borehole EM methods.&#8221;



Nickel Mountain Section



Steve Regoci, Garibaldi CEO stated &#8220;This first hole, provides strong support for the proposition that ZTEM responses may represent the expression of a mineralized system. We&#8217;re anxious to drill test the deep seated ZTEM targets along the 15km base metal corridor of the NMGC to Mount Shirley for sulphide minerals.&#8221;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



EL-22-97 was initially collared upslope of the adit at 396390 mE 6271118mN, 1567 masl, at 367°/-70° but failed to progress through difficult ground at&nbsp;232m. The hole was abandoned well before target depth. EL-22-97b&nbsp;was recollared&nbsp;213m&nbsp;downslope at 396442 mE, 6270938mN,&nbsp;1463m&nbsp;masl at 342°/-50°. This hole succeeded to target depth and encountered mineralization at the initial area of interest targeted in EL-22-97.



Quality Assurance/Quality Control (QA/QC)&nbsp;



Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&amp;L Nickel Mountain Project using best industry practice. All core is logged by a geoscientist and selected intervals sampled. HQ and NQ drill core is sawn in half and each sample half is placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in&nbsp;Smithers, British Columbia. Chain of custody of samples is recorded and maintained for all samples from the drill to the laboratory.



All diamond drilling sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process. Samples were submitted to SGS Canada Inc. in&nbsp;Vancouver, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), Fire Assay (FA) and Leco methods. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by sodium peroxide fusion and ICP-MS. The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by&nbsp;Jeremy Hanson, a qualified person as defined by NI-43-101. *XRF measurements were taken with a Niton XL5. XRF measurements analyze a very small, select section of material approximately 0.16cm2&nbsp;per measurement and results are not representative of the overall rock or material.



Qualified Person &amp; Data Verification



Jeremy Hanson, P.Geo., a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.



About Garibaldi



Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in&nbsp;British Columbia&nbsp;and&nbsp;Mexico.



We seek safe harbor.



GARIBALDI RESOURCES CORP.



Per:&nbsp;&#8220;Steve Regoci&#8221;Steve Regoci, President



Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



SOURCE Garibaldi Resources Corp.



For further information: GARIBALDI RESOURCES CORP., 1150 &#8211; 409 Granville Street, Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com