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Robust Management and Rich Resources: The Borealis Mining Advantage

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Robust Management and Rich Resources: The Borealis Mining Advantage

Title: Robust Management and Rich Resources: The Borealis Mining Advantage

By: Kal Kotecha

HIS IS A PAID PROMOTIONAL WRITE-UP ON BEHALF OF BORELAIS MINING.
It is rare to come across a mining company that checks all the boxes but I believe Borealis Mining just does that. With an imminent public listing expected to be this Wednesday August 7th, 2024 on the TSX:V under the symbol: BOGO, Borealis has impressively raised $15,000,000 in the past year despite the challenging overall environment in the junior mining sector. Junior Gold Report had the privilege of interviewing Kelly Malcolm, President and CEO (see interview below).

Compelling investment opportunities are not uncommon however the true diamond in the rough emerges from a company’s intrinsic ability to couple high-potential projects with robust management. Borealis Mining surpasses this standard, erecting a monumental precedence for its industry counterparts. The company’s corporate presentation underlines this conviction, presenting its rich portfolio of mineral resources, strong governance, and unique competitive positioning.

Borealis highlights:

  1. Located in Nevada, the world’s top rated mining jurisdiction as ranked by the Fraser Institute. (1)
  2. High-Grade resource expansion potential with historical drilling including 67m of 16.1 g/t Au and 24m of 10 g/t Au.(1)
  3. 100% owned and Under Explored
  4. Top-Tier board and management team
  5. Investment by both Rob McEwen and Eric Sprott
  6. 83,220,583 common shares (1)
  7. $8+ million in cash (2)
  8. Historical resource of 2,000,000 ounces (2)
  9. Pour gold on site (2)

Expanding on point 4, the quality of the team is outstanding! Such a talented group likely wouldn’t have come together unless the project was truly exceptional.

Q& A with Kelly Malcolm, President and CEO of Borealis Mining:

1 Kelly, it is an honour to have you being interviewed by Junior Gold Report. Could you provide us with an overview of your professional background particularly highlighting your tenure with Detour Gold, and elaborate on the journey that led you to join Borealis Mining?

            I’m a geologist, registered in Ontario, and also have a degree in economics, both of which are quite useful in my role as CEO at Borealis. My most recent role was VP Exploration at Amex Exploration (TSX-V: AMX) where I joined in 2019. During my five years with Amex we made a number of gold and base metal discoveries, raised in excess of $90 million, and won exploration company of the year at the Mines and Money show in London in 2022. Prior to that, I ran a small Yukon-focused gold exploration company, and before that I spent a number of years as an exploration geologist at Detour Gold Corp, which is now the largest gold mine in Canada.

            We started putting the pieces together to build Borealis during the latter half of 2022. We (our COO Andreas, our VP Exploration Iain, and I) reviewed a number of different projects and following a site visit to Borealis determined that it has both significant exploration potential and also the near-term ability to generate revenue. We signed a definitive deal to acquire the project in April of 2023, and assumed operatorship of Borealis in June. Since then, we’ve been very actively financing the company, running two drilling campaigns, and running the ADR plant including pouring some gold from the residual leaching operations. We just recently received conditional approval to list our shares on the TSX-V under the ticker BOGO and are very much looking forward to sharing the story with a wider audience as I feel it is unique and has significant potential to grow.

2. Could you shed some light on the roles and contributions of Rob McEwen and Eric Sprott within Borealis?

            Rob McEwen came in to the company through a large purchase from the Borealis project vendor, Waterton, who were entitled to 19.9% of the Borealis shares on listing. Eric Sprott came in through a conventional private placement at $0.50 where he invested $2 million. Both Rob and Eric are simply investors in terms of their contributions, but I will definitely lean on both of them for advice as they are two of the most accomplished investors in the sector. We’re very pleased to have them both as significant shareholders. 

3. In what specific ways will the extensive experience and expertise of Borealis Mining’s Board of Directors contribute to the company’s growth, innovation and overall success?

            We have a genuinely amazing group of directors at Borealis. Collectively they’re responsible for building some of the top companies in Canada’s mining industry, including Kirkland Lake Gold, Kinross Gold, and NexGen Energy. Their combined expertise in mining, exploration, finance, M&A, and corporate stewardship provides Borealis with a wealth of knowledge which we can lean on as we look to resume production, acquire new projects, and finance the company at opportune times.

4. Please provide a description of Borealis’ land package, including details on permitting, discussion of past holes and historical resource. How do these collectively position the company for future exploration and development success?

            Borealis is a 14,600 acre project located in the Walker Lane district of Nevada. It is host to full mining permit, an operational heap leach facility, an ADR facility where we can pour doré bars, and full mining infrastructure including water and electricity. The first discovery of oxide gold was made in the late 1970’s, followed by a period of around 10 years of mining from a number of shallow open pit mines through the 1980s. The mine was fully reclaimed in 1993. In the 2000s, a company called Gryphon Gold acquired the project, identified a high grade sulphide deposit at depth, and re-built all of the previously reclaimed mining infrastructure and acquired new mining permits. The property has both near-surface oxide and at depth sulphide mineralization, both of which have delivered spectacular grades over meaningful widths in historical drilling. 

5. Is there anything else you would like to add for our readers to better understand Borealis?

            Borealis is unique to the sector in that we are a revenue-generating growth focused company. We intend to build a genuine business, leveraging our Borealis project and its infrastructure, our very experienced board and management team, and a very strong shareholder base to become one of Nevada’s newest mining companies.

Borealis Mining stands out as a premier opportunity in the junior mining sector. With a robust financial foundation, having raised $15,000,000 in a challenging market and poised to go public, Borealis is well-positioned for significant growth. The company’s strategic location in Nevada coupled with its impressive historical drilling results and high-grade resource potential highlights its immense promise.

The exceptional quality of the Borealis team which boasts extensive experience and notable achievements in the mining industry underscores the projects exceptional nature. The involvement of prominent investors like Rob McEwen and Eric Sprott further attests Borealis’ potential.

As Borealis advances, it is poised to become a formidable player in Nevada’s mining landscape combining revenue generation with exploration success. in this tumultuous junior mining landscape, Borealis can be seen as a bacon of light.

Stay tuned and Happy Investing!

Dr. Kal Kotecha

Footnotes:

  1. https://hht48b.p3cdn1.secureserver.net/wp-content/uploads/2024/07/Borealis_Presentation_Q3_2024.pdf
  2. https://www.youtube.com/watch?v=TIkIdBCQO1s

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