Callinex to Change Name to Visionary Copper and Gold Mines Inc.

Rhea-AI Summary

Callinex Mines (OTCQX: CLLXF) has announced plans to change its name to Visionary Copper and Gold Mines Inc., with an expected new stock symbol "VCG" in early September 2025. The name change reflects the company's strategic focus on sustainable copper and gold mining across Canada.

The company's portfolio includes the Point Leamington Deposit in Newfoundland with significant mineral resources, including 402 koz AuEq Indicated and 986.5 koz AuEq Inferred pit-constrained resources. The Rainbow deposit at its Pine Bay Project contains an Indicated resource of 272.4 Mlb CuEq and an Inferred resource of 83.4 Mlb CuEq. The Nash Creek Project in New Brunswick demonstrates strong economics with a pre-tax IRR of 34.1% and NPV8% of $230 million at $1.25 Zinc.

Positive

• Substantial mineral resources across multiple deposits including 402 koz AuEq Indicated at Point Leamington
• Strong Rainbow deposit resources with 272.4 Mlb CuEq Indicated
• Nash Creek Project shows robust economics with 34.1% pre-tax IRR
• Strategic rebranding aligns with focus on sustainable mining operations

Negative

• Name change and rebranding process subject to TSX Venture Exchange approval
• Project development timelines and future expenditures remain uncertain

VANCOUVER, British Columbia, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it plans to change its name to “Visionary Copper and Gold Mines Inc.” (the “Name Change”). The Name Change better reflects the Company’s forward-looking commitment to creating value through the discovery and development of sustainable copper and gold mines across Canada.

The name Callinex has been a cornerstone of our identity, deeply rooted in our proud history in Manitoba. It has provided a strong foundation, guiding us through years of growth and many of our greatest achievements. As we move forward, the new name, Visionary Copper and Gold Mines Inc., embodies our long-term vision to lead in sustainable mining, delivering lasting value to our stakeholders and communities through the discovery and development of critical and precious metals deposits within established mining jurisdictions.

The Company anticipates its new stock symbol will be "VCG" and that it will occur in early September 2025.

Shareholders of the Company will not be required to exchange their existing share certificates for new certificates bearing the Company's new name. The name change does not affect the Company's share structure or the rights of the Company's shareholders, and no further action is required by existing shareholders of the Company. The Name Change remains subject to the acceptance by the TSX Venture Exchange.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the 100% owned Point Leamington Deposit in Newfoundland, located in one of the richest VMS and Gold Districts in Canada. Callinex prepared a pit constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (145.7 koz gold, 60.0 Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), a pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq for 986.5 koz AuEq (354.8 koz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq (65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag, 2.6 Mlb lead) (see news release dated October 25, 2021). Additionally the Company is permitting the Rainbow deposit at its rich VMS Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Callinex prepared an indicated mineral resource on the Rainbow deposit of 3.44 Mt grading 3.59% CuEq for 272.4 Mlb CuEq (238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au, 692.8 koz Ag, 2.3 Mlb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 Mt grading 2.95% CuEq containing 83.4 Mlb CuEq (72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 Koz Ag, 0.8 Mlb Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 Mt grading 2.62% Cu containing 58.1 Mlb Cu (see news release dated July 10, 2023). Additionally, the portfolio includes the Nash Creek Project located in the VMS rich Bathurst Mining District of New Brunswick. A 2018 PEA generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax) at $1.25 Zinc (see news release dated May 14, 2018). 

For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: info@callinex.ca

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 release.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.

FAQ

When will Callinex Mines (CLLXF) change its name to Visionary Copper and Gold Mines?

The company expects to complete the name change to Visionary Copper and Gold Mines Inc. in early September 2025, with the new stock symbol 'VCG'.

What are the mineral resources at Callinex's Point Leamington Deposit?

The Point Leamington Deposit contains a pit-constrained Indicated Resource of 5.0 Mt at 2.5 g/t AuEq (402 koz AuEq) and an Inferred Resource of 13.7 Mt at 2.24 g/t AuEq (986.5 koz AuEq).

What is the economic potential of Callinex's Nash Creek Project?

The Nash Creek Project's 2018 PEA shows a pre-tax IRR of 34.1% and NPV8% of $230 million at $1.25 Zinc price.

Do Callinex shareholders need to take any action due to the name change?

No, shareholders do not need to exchange their existing share certificates for new ones, as the name change does not affect the company's share structure or shareholder rights.

What are the Rainbow deposit's mineral resources at Callinex's Pine Bay Project?

The Rainbow deposit contains an Indicated resource of 3.44 Mt at 3.59% CuEq (272.4 Mlb CuEq) and an Inferred resource of 1.28 Mt at 2.95% CuEq (83.4 Mlb CuEq).