Callinex Mines Inc. - CLLXF STOCK NEWS

Callinex Mines (OTCQX: CLLXF) has announced a non-brokered private placement to raise up to $1.5 million. The funds will support a drilling campaign at their Pine Bay Project. The offering includes 400,000 hard dollar units (HD Units) at C$1.25 per unit, totaling up to C$500,000, and 471,698 Manitoba flow-through units (FT Units) at C$2.12 per unit, totaling up to C$1,000,000. Each HD Unit includes one common share and a half warrant, exercisable at C$2.00 per share within two years. FT Units consist of one flow-through share and a half warrant. Proceeds from FT Units will fund eligible Canadian exploration expenses, with all expenditures renounced to subscribers by December 31, 2024. The offering is subject to TSX Venture Exchange approval.

CEO.CA, a leading investor social network and subsidiary of EarthLabs, shared exclusive updates with CEOs of junior mining explorers in their 'Inside the Boardroom' series. This week's episode features Ken Brophy (Intrepid Metals, IMTCF), Max Porterfield (Callinex Mines), George Read (Star Diamond), and Andrew Davidson (Royal Helium). The series offers insights into the leaders' visions, challenges, and strategies, enhancing understanding of the junior mining sector. CEO.CA connects millions of investors globally, fostering knowledge sharing and impactful storytelling about stocks, commodities, and emerging companies.

Callinex Mines has announced receiving a $250,000 grant from the Manitoba Mineral Development Fund (MMDF) to advance the Pine Bay Project. This grant will fund key items to support permitting and future mine development. Since 2020, Callinex has received over $1 million in grants from MMDF for high-grade copper discoveries at Pine Bay.

On July 10, 2023, Callinex announced a maiden mineral resource estimate for the Rainbow deposit, indicating 3.44 Mt at 3.59% copper equivalent and an inferred mineral resource of 1.28 Mt at 2.95% copper equivalent. The Pine Bay deposit has an inferred mineral resource of 1.0 Mt at 2.62% copper.

The MMDF aims to jump-start mineral and economic development initiatives in Manitoba. Callinex has also engaged Joseph Gray for investor relations, agreeing to pay $5,000 per month for three months.

Callinex Mines has announced its 2024 exploration targets at the Pine Bay Project in the Flin Flon Mining District, Manitoba. The focus is on high-grade copper VMS mineralization at the Descendent deposit with step-out drilling planned. Two new target areas, Poseidon and Ra, identified through geophysical surveys, could host significant near-surface discoveries. The Descendent deposit has shown promising grades, with recent drill holes returning up to 2.30% CuEq. The project benefits from a mineral lease and access to infrastructure. Additional targets include Odin and newly acquired areas in the Alberts Lake Project.

Callinex Mines has expanded its Pine Bay Project in Manitoba by acquiring the Alberts Lake Project and additional claims, totaling over 11,859 hectares of highly prospective exploration land. This consolidation encompasses significant felsic volcanic rock packages known for hosting historic copper, gold, zinc, and silver VMS deposits.

The Alberts Lake Project and associated lands include several prospects with VMS and vein-hosted mineralization. Notable discoveries and resources comprise the Leo Lake Copper VMS deposit, the Alberts Lake Gold deposit, and the Amulet VMS deposit, all with historical drilling results indicating substantial mineralization.

Under the terms of the agreement, Callinex will issue shares worth $675,000 over four years to Voyageur Mineral Explorers. The transaction is pending TSX Venture Exchange approval.

Callinex Mines Inc. announces positive results from the MT geophysical survey at the Pine Bay Project, indicating potential for multiple parallel deposits and expansion of the current resource base. The survey identified a second strong anomaly at depth, supporting the Descendent deposit's continuation and revealing large target areas along VMS horizons.

Preliminary results from the MT survey show a strong correlation with the Pine Bay deposit, with a large target identified at depth potentially representing the fold limb of the Descendent. The survey is being expanded to cover more areas, including the Alchemist deposits and target area Odin, to gather additional information.

Canadian Lithium Corp (CLLXF) plans to conduct a survey covering multiple deposits and target areas to gather additional information.

Callinex Mines Inc. announces new drill hole DSC-112-W1 intersecting multiple Cu-Zn-Au-Ag zones at the Descendent discovery. The results confirm a large geophysical target and plans are underway for an exploration campaign to define the size and extent of the Descendent. The grades intersected at Descendent are comparable to the nearby Rainbow deposit. The company's exploration thesis is that the grades will continue to improve and transition into high-grade copper at depth with further drilling at Descendent.