CALLINEX MINES INC - CLLXF STOCK NEWS

Callinex Mines Inc. has announced a non-brokered private placement of up to $4.22 million. This funding will be directed towards the ongoing drill campaign at the Rainbow Deposit in Manitoba. The Offering consists of 321,544 hard dollar units priced at C$3.11 per unit and 644,000 flow-through units at C$5.00. Proceeds from the sale of flow-through units will be used for eligible Canadian exploration expenses. The company also highlights significant mineral resources across various projects, including the Pine Bay Project.

Callinex Mines Inc. has identified new exploration targets at its Pine Bay Project in Manitoba, 16km from processing facilities. Drill hole PBM-166 intersected 1.5m of massive sulphides containing copper, zinc, gold, and silver. A subsequent borehole EM survey indicated a 130m x 400m highly conductive anomaly, suggesting a potential continuation of the rock package that hosts the Rainbow deposit. The company plans to immediately test these targets, as their proximity to historic deposits in the Flin Flon area could enhance mineral resource potential.

Callinex Mines Inc. reports significant drilling results from its Rainbow Deposit, with PBM-161-W1 intersecting 9m of 12.53% copper (Cu), including 5.5m of 17.37% Cu. PBM-161-W2 recorded 14m of 5.71% Cu and PBM-163 found 6m of 2.34% copper equivalent (CuEq) at 110m depth, the shallowest to date. These results support the deposit's expansion and indicate reduced capital costs and timelines for development. The company has drilled 71 holes totaling 40,000m since discovering the Rainbow Deposit in August 2020, aiming for further resource estimation later this year.

Callinex Mines Inc. (OTCQX: CLLXF) announced positive drilling results from its Rainbow Deposit, located at the Pine Bay Project in Manitoba. Notable highlights include drill hole PBM-158, which intersected 5.0m of 1.56% copper equivalent at a depth of 928m, marking the deepest hole to date. The borehole electromagnetic survey suggests potential for further extensions at depth. Additionally, a newly discovered Red Zone exhibited high-grade copper-gold-zinc assays, with PBM-145 returning 12.0m of 3.43% copper equivalent. The company plans further exploration targeting known deposits and expanding upon previous findings.

Callinex Mines Inc. is excited to announce the initiation of trading on the OTCQX under the symbol CLLXF as of January 25, 2022. This move aims to provide enhanced transparency and accessibility for U.S. investors, allowing for easier analysis and trading of shares. The company focuses on expanding the high-grade copper, zinc, gold, and silver Rainbow deposit near Flin Flon, Manitoba, and has a promising economic outlook as indicated by their 2018 pre-feasibility study, which outlined a robust mine plan with a pre-tax IRR of 34.1% and an NPV of $230 million.

Callinex Mines Inc. (OTC: CLLXF) reflects on a record year in its year-end letter to shareholders. The company completed nearly 40,000m of drilling at the Rainbow Deposit, significantly expanding its high-grade copper resource. The Rainbow now boasts an average drill hole grade of 4.04%, far exceeding the global average of 0.50%. As the company aims for further exploration and a maiden resource estimate, it highlights its commitment to sustainable practices and community engagement in Flin Flon, MB. The upcoming year promises ongoing advancements amid a robust market for base and precious metals.

Callinex Mines Inc. (OTC: CLLXF) reported key updates from its drilling activities at the Pine Bay Project and Nash Creek Project. This year, the company drilled 64 holes totaling 34,250m focused on the Rainbow Deposit. Results from 37 drill holes, representing over 17,000m, are pending. Notably, the Rainbow Deposit is located near vital infrastructure, which could significantly lower development costs. The Nash Creek Project also has 12 holes (3,320m) awaiting assay results, showcasing Callinex's exploration momentum.

Callinex Mines Inc. announced a significant update on the Point Leamington Deposit in Newfoundland, revealing a pit-constrained Indicated Mineral Resource of 5.0 Mt at 2.49 g/t AuEq and an Inferred Mineral Resource of 13.7 Mt at 2.24 g/t AuEq. Additionally, the out-of-pit Inferred Mineral Resource stands at 1.7 Mt grading 3.06 g/t AuEq. Recent drilling highlighted a high-grade zinc-gold zone, intersecting 4.67m with notable concentrations. The company plans to advance the project through metallurgical testing and further exploration.