Borealis Announces Gold Pour and Grant of Options
Rhea-AI Summary
Borealis Mining Company (OTC Pink: BORMF) announced completion of a second pour of gold and silver doré from stockpile crushing and heap leaching at the Borealis minesite on November 12, 2025. A total of 42.83 lb (617 troy ounces) of doré was poured; assays are pending to determine grade and value, with preliminary ~50:50 gold-silver ratio. Heap leaching continues with approximately 153,000 tons crushed to date and additional pours expected before year-end. The company also granted 2,300,000 stock options at $1.63 exercisable for five years and 158,500 RSUs vesting in one year. The mine is fully permitted for current operations, though permit modifications may be required for expansion.
Positive
- Second doré pour of 42.83 lb (617 troy oz)
- 153,000 tons of oxide stockpile crushed to date
- Operational ADR facility producing doré bars
Negative
- Assay results pending for grade and value, creating short-term uncertainty
- Permit modifications may be required for expanded production; timing uncertain
News Market Reaction
On the day this news was published, BORMF gained 7.63%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - November 12, 2025) - Borealis Mining Company Limited (TSXV: BOGO) (OTC Pink: BORMF) (FSE: L4B0) (the "Company" or "Borealis") is pleased to announce that it has successfully completed its second pour of gold and silver doré from the previously announced stockpile crushing and heap leaching at the Borealis minesite. A total of 42.83 pounds, equivalent to 617 troy ounces of doré, was poured as shown in Figure 1.
Borealis is awaiting assay results from the pour to determine the grade and value of the doré but preliminary results indicate roughly a 50-50 gold-silver ratio, plus some additional waste metal. Heap leaching and crushing of the stockpile of oxide material continues, with approximately 153,000 tons crushed to date. Gold and silver are actively being collected in Borealis' carbon columns and the Company anticipates additional pours before year-end. In conjunction with this pour, the Company completed its annual stack testing, a regulatory requirement that ensures the plant is operating within environmental standards.
Figure 1: Gold and silver doré from the second pour at the Borealis mine from production of previously mined stockpile material.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9344/274116_ee0737ac84476b25_001full.jpg
Grant of Stock Options and RSUs
In addition, the Company is pleased to announce that it has granted an aggregate of 2,300,000 stock options to purchase common shares in the capital of the Company and an aggregate of 158,500 restricted share units ("RSUs") convertible into common shares of the Company to certain officers, directors, employees and consultants of the Company and a company performing investor relation activities to the Company in accordance with the omnibus long term incentive plan of the Company. The stock options are exercisable at a price of
Qualified Person and QA&QC
The scientific and technical content of this news release was reviewed, verified, and approved by Kelly Malcolm, P.Geo., Chief Executive Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Borealis Mine
The Borealis mine property, located close to the town of Hawthorne, NV, is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure, and a functional ADR facility which produces doré bars. The project has historically produced over 600,0001 ounces of gold from an open pit heap leach operation. It is an under-explored property and has not been drilled since 2011, aside from Borealis' efforts in 2024 and 2025. The property possesses high grade expansion potential with excellent historical drilling results, along with a number of untested regional targets. 1Please see the Borealis Mine technical report entitled "NI 43-101 Technical Report, Project Status Report, Borealis Mine, Nevada, U.S.A." authored by Douglas Reid, P.Eng. of SRK Consulting, dated February 16, 2024. The report can be found on SEDAR+ or the Borealis website.
The Borealis Project holds existing federal and state permits for mining and processing operations. However, certain permit modifications may be required for expanded production, and the timeline for such approvals is subject to regulatory review. The Company cannot guarantee the timing or success of any permit modifications that may be required for future expansions.
About Borealis
Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis Mine in Nevada and the advancement of its Sandman project also in Nevada. The Borealis Mine is a fully permitted mine site, equipped with active heap leach pads, an ADR facility, and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprised of 815 unpatented mining claims of approximately 20 acres each totaling approximately 16,300 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulfidation gold mineralization. The Sandman project, recently acquired through the acquisition of Gold Bull Resources Inc., is an advanced exploration project with a recently completed (2021) NI 43-101 compliant resource and a recent (2023) Preliminary Economic Assessment which indicates compelling economics, particularly in light of the increase in commodity prices since publication of the study. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.
For further information, please contact:
Kelly Malcolm
President and Chief Executive Officer
info@BorealisMining.com
Office: (289) 371-3371
This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274116
FAQ
How much doré did Borealis (BORMF) pour on November 12, 2025?
What ratio of gold to silver did the November 2025 BORMF pour show?
How much oxide material has Borealis crushed for heap leaching in 2025 (BORMF)?
What equity incentives did Borealis grant on November 12, 2025 (BORMF)?
Are Borealis's November 2025 pour assay results available (BORMF)?
Will Borealis require new permits to expand production at the Borealis mine (BORMF)?
