Toronto, Ontario--(Newsfile Corp. - October 20, 2025) - Lipari Mining Ltd. (Cboe CA: LML) (formerly Golden Share Resources Corporation) ("Lipari" or the "Company") is pleased to announce that it has entered into a loan agreement with Fersfield Limited for total proceeds of C$325,000. The non-interest-bearing loan will be used to purchase and transport a kimberlite processing plant to the Company's 75%-owned Tchitengo project in Angola. The acquisition of this 5 tonne-per-hour processing plant allows the Company to fast-track its Phase II development program for the Tchiuzo kimberlite, which is one of 30 kimberlites that are situated on the Tchitengo Project.
Ken Johnson, Lipari's President and CEO said that "the acquisition of this kimberlite processing plant is expected to enable us to quickly advance the planned bulk sampling of the Tchiuzo pipe. The objective of the program is to recover a diamond parcel in excess of 5,000 carats for valuation purposes to determine the current market value of the Tchiuzo diamonds. Together with results from last year's Phase I confirmatory drilling program, this valuation is expected to position us to update the historical feasibility study originally completed on the Tchiuzo kimberlite by Sociedade Mineira de Catoca ("SM Catoca") in 2013. SM Catoca reportedly invested US$35.6 million towards the exploration and development of the Tchiuzo kimberlite pipe during the period from 2006 to 2016."[1]
The loan has a one-year maturity and is expected to be repaid from the proceeds of a future equity financing. The transaction was negotiated on an arm's-length basis and approved by Lipari's disinterested directors.
No agent, broker, or finder's fees were paid in connection with this transaction, and the transaction does not result in the creation of a new insider or materially affect control of the Company.
The transaction is subject to the provisions of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Lipari is relying on the exemptions in Sections 5.5(a) (valuation requirement) and 5.7(1)(a) (minority approval requirement), as the fair market value of the transaction does not exceed 25% of the Company's market capitalization.
About Lipari Mining Ltd.
Lipari Mining is South America's leading diamond producer, with a track record of successful operations at the Braúna diamond mine in Brazil, which has produced over 1.24M carats to date. Lipari is now applying its expertise to advance the highly prospective Tchitengo Diamond Project in Angola, marking the next phase of growth for the Company.
The Company is committed to environmentally responsible mining practices. Lipari's Braúna mine is the only diamond mine in the world that recycles nearly 100% of the water used in ore processing, producing a dry tailings product which has potential as a soil remineralizer for the agricultural industry. Lipari's shares are listed for trading on the CBOE Canada exchange and trade under the symbol "LML", and the Frankfurt Stock Exchange under the symbol "0Y90
Additional information on the Company can be found on its website at www.liparimining.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Contact:
Kenneth Johnson
President and Chief Executive Officer
ken.johnson@liparimining.com
Phone: +55 (71) 3369 4808
Cautionary Note
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of LML have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
This press release may contain "forward-looking statements" regarding the Company. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. These forward-looking statements include, among others, statements with respect to: the completion of the acquisition of the kimberlite processing plant, the ability to advance the planned bulk sampling of the Tchiuzo pipe; the Company's plans to update the historical feasibility study that was completed on the Tchiuzo kimberlite by SM Catoca; the timing and ability to complete a future equity financing; the ability to advance the Tchitengo Project to feasibility, the potential for a broader Tchitengo kimberlite field, the Company's plans, objectives, expectations, anticipations, estimates and intentions. All forward-looking statements and information are based on the Company's current beliefs as well as assumptions made by, and information currently available to, the Company concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Lipari's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Lipari's expectations include risks associated with the business of Lipari; risks related to reliance on technical information provided by Lipari; risks related to exploration and potential development of the Lipari's mineral properties; business and economic conditions in the mining and diamond industries generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and other risk factors as detailed from time to time and additional risks identified in Lipari's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lipari does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
[1] Technical Report for the Tchitengo Diamond Project, Lunda Provinces, Northeast Angola, March 21, 2024 by SRK Consulting (Canada) Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271084
SOURCE: Lipari Mining Ltd.
