Heritage Mining focuses on district-scale assets targeting gold and copper mineralizations within Ontario. The company’s flagship project is Drayton-Black Lake, a strategically assembled district-scale project with encouraging bulk samples, high-grade gold intercepts and robust existing infrastructure. An experienced management team leads Heritage Mining with over 100 years of experience working within the natural resources sector.

The 14,229-hectare project has received significant historical exploration with over 176 holes drilled that have discovered high-grade gold and copper. The project is located in a mature mining district in Ontario, a jurisdiction known for its low geopolitical risk and mining-friendly government.

This Heritage Mining company profile is part of a paid investor education campaign.*

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") today announces strong preliminary second quarter operating results, with total gold equivalent ounce ("GEO") (1) production of 260,960 GEO (1) . Gold production during the quarter was 232,542 ounces with silver production of 2.36 million ounces. Canadian Malartic, Jacobina, El Peñón and Cerro Moro all delivered standout quarters. All-in sustaining costs ("AISC") (2) for the quarter are expected to be less than US$1,090oz.

The Company generated strong cash flows during the quarter, which strengthened its cash balance and financial flexibility. Cash and cash equivalents increased by more than $30 million to a total quarter-end cash balance of over $328 million from $298 million at the end of the first quarter, exclusive of approximately $215 million in cash available in MARA for utilization by the project. This represents an improvement in cash flow generation of nearly $40 million compared to the first quarter of 2022.

Jacobina Phase 2 Commissioning and Phased Expansion Update

The Phase 2 expansion at Jacobina continued to successfully ramp-up during the quarter, with the mine achieving a sustained throughput rate of over 8,400 tpd in June. Yamana expects the throughput objective of 8,500 tpd to be achieved in July, establishing Jacobina's sustainable production profile at 230,000 ounces of gold per year.

The Company's phased expansion strategy at Jacobina is well advanced and the Company anticipates that the low-cost operation will have a strategic mine life exceeding at least two decades, taking mineral reserves and high-conviction mineral resources into consideration. With the Phase 2 expansion delivered ahead of schedule, the Company is now pursuing the Phase 3 expansion to 10,000 tpd through continued incremental debottlenecking. With the permit to expand to 10,000 tpd already in hand, Phase 3 is expected to increase gold production to approximately 270,000 ounces per year by 2025 with a modest incremental capital expenditure of $20 million to $30 million.

A comprehensive plan for the Phase 4 expansion, which envisages throughput of up to 15,000 tpd and gold production in excess of 350,000 ounces per year, is also well underway as is the evaluation of further strategic options related to Jacobina and the significant exploration potential that is present along the prolific Jacobina Greenstone Belt, which hosts the mine. Jacobina is a complex of underground mines with a common plant and now, in addition to local exploration, from which the Company has been successful at new discoveries and developing newer mines in the complex, the Company is advancing a broader regional exploration effort initially north of the current mine complex although more broadly across a more than 110 kilometre greenstone belt north of Jacobina with comparable geology.

Board Approved Wasamac Bulk Sample Program

The Company continues to advance preparations for its board-approved bulk sample program at its wholly-owned Wasamac project in the Abitibi-Témiscamingue Region of Québec, Canada. The initiative would allow construction to commence on the ramp, enabling earlier access to the deposit to increase the level of confidence in metallurgical and geotechnical variables and optimize the processing flow sheet and mining sequence. Construction of surface facilities to support the ramp development activity and associated environmental requirements would also be advanced.

With a high level of continuity and regular geometry, combined with a relatively simple structural setting and average mineralized widths of 13 metres, Wasamac is well positioned for high-production and low-cost underground mining methods given the project's low level of geological risk and favourable geological environment. Infill drilling results since mid-2021 confirm or exceed expected grades and widths. Similarly, the metallurgical and geomechanical assumptions used in the feasibility study are based on rigorous lab testing from drill hole samples. Bulk sampling and industrial-scale tests will build on these results, enabling development of production-ready models for the grade, recovery, and geotechnical aspects of the project, to support the first three years of production.

Additionally, the bulk sample program will allow the Company to capture opportunities to optimize the processing performance by testing multiple flowsheet options and confirm stope stability parameters to optimize stope dimensions, backfilling strategy and mining sequence while contributing to ensuring a safe working environment. The accelerated development of the ramp will also establish drilling platforms to perform both delineation and exploration drilling at Wasamac main zones, Wildcat and potential new zones from underground.

Preparation of the documentation for the bulk sample permits is underway and scheduled for submission in the third quarter of 2022, with the approval process expected to take less than 6 months. Permit approvals are expected in early 2023 and ramp development could begin in spring 2023. While the permit application is in progress, select site works, including construction of an access road, a temporary 25 kV power line and temporary buildings is scheduled to commence in the second half of 2022.

The bulk sample will not require additional costs above what was included in the feasibility study, rather a fraction of the costs will be brought forward in time slightly. A modest capital expenditure of approximately $7 million is planned for the second half of 2022, in preparation for development to commence in the first half of 2023.

Wasamac Strategic Life-of-Mine (LOM) Plan Highlighting Potential Upside Optionality

During the second quarter, the Company completed an update of the Wasamac strategic LOM plan, building on the 2021 feasibility study and incorporating the results of several value-adding studies that were advanced throughout the first half of 2022. The strategic plan demonstrates an improved gold production profile compared to the feasibility study, while continuing to establish Wasamac as a modern, low-cost, responsible underground mine.

Extension of the processing plant site through land acquisition and additional geotechnical drilling have allowed optimization of the underground mine design and processing plant layout. The revised layout avoids environmentally sensitive areas, improves the plant configuration, and provides additional space for ore stockpiling, while continuing to minimize impacts to the surrounding property holders. Using the revised mine designs, the mining sequence has been optimized to increase feed grades in the first two years, resulting in a faster production ramp-up to 200,000 ounces in 2027 and up to 250,000 ounces in 2028.

Furthermore, the ongoing mine design and sequence optimizations could position the Wasamac mine with the option for a future incremental expansion from 7,000 tpd to 9,000 tpd in year 3 of operations, to extend the gold production profile of 250,000 ounces per year until at least 2030. The results of a comminution trade-off study indicate that the higher throughput of 9,000 tpd could be achieved with limited additional mechanical equipment at modest capital expenditures and without increasing the area of the plant layout.

The strategy to start production at 7,000 tpd, with a later incremental expansion to 9,000 tpd, balances the mining equipment fleet and workforce requirements while minimizing any impact to the ongoing permitting process. As a result, the Company continues to expect to receive the required permits to commence project construction in mid-2024 and the initial capital cost estimate from the feasibility study of $416 million also remains unchanged.

Positive infill and exploration drilling results to date indicate the potential for a strategic mine life of 10 to 15 years at 200,000 to 250,000 ounces of gold per year, compared to the LOM average of 169,000 ounces in the feasibility study. The Wasamac deposit is not only open at depth and along strike but the underexplored secondary zones such as Wildcat are showing promising drilling results. Additional exploration targets on the property, including the adjacent Francoeur, Arntfield, and Lac Fortune properties, provide further upside.

Figure 1: Optimized Strategic Production Profile https://www.globenewswire.com/NewsRoom/AttachmentNg/f55a81fa-92dc-4171-9927-7a7a749198af

As a result of the improved production profile in the updated strategic LOM plan, unit costs are expected to be lower than the feasibility study LOM average of $828 per ounce and, at the feasibility study gold price of US$1,550, the net present value would approximately double assuming the strategic mine life is extended through 2036 at 9,000 tpd.

Other opportunities that continue to be evaluated but are not yet included in the strategic plan include the processing flow sheet optimization to increase metallurgical recoveries by approximately 3% (for which metallurgical testing is ongoing), optimized configuration of the tailings filter plant and paste backfill plant, and increased levels of electrification, automation and renewable energy usage in the project.

Wasamac further increases the Company's footprint within the prolific Abitibi-Témiscamingue region. Together with the Odyssey project at Canadian Malartic, the optimized strategic plan increases the attributable sustainable strategic gold production platform to 500,000 – 550,000 ounces, with considerable upside. Assuming a gold price of US$1,550 per ounce, both the Wasamac and Odyssey projects are fully funded with no external capital required and put the Company on a path towards being a regionally dominant producer with two generational, cornerstone mines within the Abitibi-Témiscamingue region.

The Company intends to provide an exploration update alongside its full Q2 2022 operational and financial results on Thursday, July 28, 2022 to highlight the ongoing positive exploration results of its assets in Québec that underpin the strategic outlook and support meaningfully extending the sustainable production platform.

Scientific and technical information contained in this news release has been reviewed and approved by Sébastien Bernier (P. Geo and Senior Director, Reserves and Resources). Sébastien Bernier is an employee of Yamana Gold Inc. and a "Qualified Person" as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Yamana Gold Inc. is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investor Relations 416-815-0220 1-888-809-0925 Email: investor@yamana.com

FTI Consulting (UK Public Relations) Sara Powell / Ben Brewerton +44 7974 201 715223 / +44 203 727 1000

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains or incorporates by reference "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, but is not limited to information with respect to the Company's strategy, plans, expectations, beliefs, including future financial or operating performance, expected timing for permitting and construction of the Odyssey project, expectations relating to the phased expansion at Jacobina and timing thereof, Wasamac project construction and development plans and timing thereof and the Company's expected second quarter production and full year guidance. Forward-looking statements are characterized by words such as "plan", "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the Company's expectations in connection with the production and exploration, development and expansion plans at the Company's projects discussed herein being met, the impact of proposed optimizations at the Company's projects, changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, and the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating metal prices (such as gold, silver, copper and zinc), currency exchange rates (such as the Canadian Dollar, the Brazilian Real, the Chilean Peso and the Argentine Peso versus the United States Dollar), the impact of inflation, possible variations in ore grade or recovery rates, changes in the Company's hedging program, changes in accounting policies, changes in mineral resources and mineral reserves, risks related to asset dispositions, risks related to metal purchase agreements, risks related to acquisitions, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks associated with infectious diseases, including COVID-19, unanticipated costs and expenses, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting timelines, government regulation and the risk of government expropriation or nationalization of mining operations, risks related to relying on local advisors and consultants in foreign jurisdictions, environmental risks, unanticipated reclamation expenses, risks relating to joint venture operations, title disputes or claims, limitations on insurance coverage, timing and possible outcome of pending and outstanding litigation and labour disputes, risks related to enforcing legal rights in foreign jurisdictions, as well as those risk factors discussed or referred to herein and in the Company's Annual Information Form filed with the securities regulatory authorities in all provinces of Canada and available at www.sedar.com , and the Company's Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company's plans and objectives and may not be appropriate for other purposes.

News Provided by GlobeNewswire via QuoteMedia

Mining in Ontario is big business. In 2020, Ontario’s mining industry produced roughly C$10.7 billion worth of minerals, accounting for 24 percent of Canada’s total production value. The importance of the mining industry has helped create a mining-friendly jurisdiction that understands the value of capitalizing on its natural resources. That’s why the Fraser Institute has ranked Ontario among the top 15 jurisdictions worldwide for investment attractiveness.

Additionally, the Canadian government is making a significant push to ramp up the production of critical minerals, including copper, lithium, and aluminum. This push has resulted in more than 31 critical mineral projects in advanced exploration stages in Ontario. Companies targeting these critical minerals contribute to creating a domestic supply chain for the country, meaning offtake won’t likely be an issue.

The Drayton-Black Lake project is a district-scale asset with a rich history, but a single company has never operated the entire area. Instead, it was split up among different operators and has never received systematic exploration to determine its mineralizations' actual width and depth. As a result, Heritage Mining is launching the first systematic exploration program that will identify promising deposits throughout the entire area of this historic region from a low-grade high tonnage perspective.

CEO Peter Schloo stated in a recent webinar, “Relative to other projects in the area, we are very close to infrastructure. There is a paved highway through the property, all-weather logging roads, and well-maintained ATV roads. So it’s quite a bit different than other projects in Northern Ontario: there are no ice roads and we don’t have to fly in to do work.”

The company also operates the Contact Bay project containing high-grade copper-nickel mineralizations. The 4,700-hectare land package is within an active mining area and has known gold, nickel, and platinum-palladium mineralizations. While the Drayton-Black Lake project is the main focus, Contact Bay will expose the company to critical minerals.

A veteran management team leads Heritage Mining with over 100 years of combined experience in the mining industry. The team has a proven track record and has overseen transactions exceeding CAD$15 billion. In addition, the management team has experience in corporate finance, administration and geology.

The 14,229-hectare project has received significant historical exploration with over 176 holes drilled that have discovered high-grade gold and copper. The project is located in a mature mining district in Ontario, a jurisdiction known for its low geopolitical risk and mining-friendly government.

The project covers 4,700 hectares and contains multiple high-grade copper-nickel and gold occurances. Contact Bay is also located in the mining-friendly province of Ontario. The project is in the exploration phase and targets have been identified for exploratory drilling.

Peter Schloo holds the CPA, CA and CFA designations with over eight years of progressive experience in capital markets, operations and assurance. He has held senior Executive & Director positions in a number of private companies, a majority in the Precious Metals sector including CFO of Spirit Banner Capital Corp. and VP Corp Dev. and Interim CFO for Ion Energy Ltd. Schloo is also currently a Director of Pacific Empire Minerals Corp. (PEMC). His past successes include over C$80M in associated capital raising opportunities involving public and private companies.

Patrick Mohan is a 35-year investor relations veteran and is the founder, President & Chief Executive Officer of Mohan Group, Inc. Mohan is also on the board of Metals Creek Resources Corp. Previously he occupied the position of President, CEO, Director & Head-Investor Relations at Kitrinor Metals Inc. Mohan’s past successes include the development of the Cote gold Project and the sale of Trelawney Mining & Exploration to IAMGOLD Corp for C$585 million (US$595 million) in cash In 2012.

Wray Carvelas has provided 25 years of visionary leadership, developing and implementing ambitious strategic plans. As a Senior executive at DRA Global he was responsible for the growth and development of the business in both North and South America. The mandate was to grow business in the Americas, both organically and inorganically without any significant capital base. Carvelas also held positions at KBR, ELB, and De Beers, involving management of development, production, and metallurgical (R&D and capital management) responsibilities.

James Fairbairn is a Chartered Accountant with over 25 years of experience in corporate governance, leadership, mergers and acquisitions, corporate finance and management reporting. Fairbairn has served as a senior officer and/or director in both public and privately held companies.

Patrick Sullivan is a Mining, M&A and Securities lawyer at a national law firm with a decade of experience in the junior mineral exploration sector. He has acted on several significant global mining transactions including South32 Limited’s $2.1 billion acquisition of Arizona Mining, Washington Companies’ $1.2 billion acquisition of Dominion Diamond Corp, and. Hudbay Minerals’ $555 million acquisition of Augusta Resource Corporation. Sullivan also has significant experience advising on mineral stream and royalty finance transactions.

Rick Horne has over 40 years of experience as an Economic Geologist. His experience includes senior roles with Acadian Mining (Atlantic Gold) as Chief Geologist and with Dufferin Gold Mine (Resource Capital Gold) as Chief Geologist and Mine Manager. Horne is an expert in lode gold systems, structural geology and geological mapping spending 22 years with NS Energy and Mines focussing on Bedrock mapping.

Mitchel Lavery has over 45 years experience in exploration and development of mining projects with a number of junior and major mining companies. Lavery was instrumental in the discovery of the Bell Creek Gold Mine in Timmins, ON; the development and operation of the Joubie Gold Mine, Val-d’Or, QC; and the acquisition and development of the Quebec Lithium property, Lacorne, QC. He is the President and a director of Seahawk Gold Corp. and is a Qualified Person under NI-43-101 regulations.

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) will release its Q2 2022 results on Monday, August 8, 2022. President and CEO Mark Bristow will host a virtual presentation on the results that day at 11:00 EDT, with an interactive webinar linked to a conference call. Participants will be able to ask questions.

The company will release its preliminary production, sales and cost information for Q2 2022 on July 14, 2022.

The webinar will remain on the website for later viewing and the conference call will be available for replay by telephone at 1 855 669 9658 (US and Canada toll-free) and +1 604 674 8052 (international toll), access code 9046.

The Q2 2022 presentation materials will be available on Barrick's website at www.barrick.com .

Claudia Pitre Manager, Investor Relations and Corporate Access +1 416 307 5105 Email: cpitre@barrick.com

Kathy du Plessis Investor and Media Relations +44 20 7557 7738 Email: barrick@dpapr.com

News Provided by GlobeNewswire via QuoteMedia

Tempus Resources Ltd ("Tempus" or "the Company") (ASX:TMR), (TSXV:TMRR), (OTC PINK:TMRFF) is pleased to announce that visible gold has been observed in diamond drill hole EZ-22-09 at the Elizabeth Gold Project in Southern British Columbia, Canada

The 2022 drilling program at Elizabeth continues to show strength of the Blue Vein

This is the second time during this 2022 drilling season that visible gold has been encountered within the Blue Vein (see Tempus Resources' DDH EZ-22-03 announcement 20 June 2022).

DDH EZ-22-09, intersected Blue Vein structure from 105.17 to 106.21 (1.04m zone) that show the presence of visible gold ("VG") within a 3 cm quartz stringer, within the 1 metre quartz vein structure. Grains of visible gold have been observed in the uncut core at the hanging wall side of the vein structure plus an additional grain of VG observed at 106m. (See Image 1, Figure 1 and Figure 2)

Tempus Resources, President and CEO, Jason Bahnsen, commented "Drilling at the Elizabeth Project is off to a great start this season. We have now completed the first 9 holes of the program that have been focused on extending the Blue Vein gold mineralisation. The repeated observation of visible gold in drill-holes bodes well for assays, which are expected to be received within the next few weeks for the first few drill-holes."

Image 1. EZ-22-09 Blue Vein intersection with visible gold

With reference to the AIG 2015 guidance for visual reporting of massive sulphide mineralisation, the Company reports it has not encountered any massive sulphide mineralisation in drill hole EZ-22-09. While it is not possible to accurately estimate the percentage of visual gold present though out the drill core, the Company suggests that the percentage would be less than the 0.01%. The Company cautions that visual observations of visible gold are not a proxy or substitute for laboratory analysis. Laboratory assays and analysis will be required to confirm the visual interpretations presented in this news release.

The Blue Vein was discovered in 2021 (EZ-21-12 including 1.0m at 33.7g/t Au) with a total of 7 holes intersecting the vein to date (including three holes with ‘bonanza' grade intersections, i.e., greater than 1oz per tonne), high-grade gold mineralisation was identified over a strike length of over 80 metres in 2021. Approximately fifteen (15) holes have been planned this year to target the expansion of the Blue Vein high-grade gold mineralisation along strike and down dip. The 2022 drilling is testing Blue Vein gold mineralisation over a total strike length of approximately 400 metres.

Figure 1 - Elizabeth Plan View Showing 2022 Drill Locations

Figure 2 - Elizabeth Blue Vein Long Section (looking Northwest)

This announcement has been authorised by the Board of Directors of Tempus Resources Limited.

Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.

Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181

Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTCQB ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and nine months ended March 31, 2022 dated May 16, 2022 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.

Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Table 1:Drill Hole Collar Table

Appendix 2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project

Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

●Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

●Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

●Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed

● HQ (63.5 mm) sized diamond core using standard equipment.

● Mineralised and potentially mineralised zones, comprising veins, breccias, and alteration zones were sampled.

● Typical core samples are 1m in length.

● Core samples sent to the lab will be crushed and pulverized to 85% passing 75 microns. A 50g pulp will be fire assayed for gold and multi-element ICP. Samples over 10 g/t gold will be reanalysed by fire assay with gravimetric finish

●Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by

●Method of recording and assessing core and chip sample recoveries and results assessed.

●Measures taken to maximise sample recovery and ensure representative nature of the samples.

●Whether a relationship exists between sample recovery and grade and whether sample bias may

have occurred due to preferential loss/gain of fine/coarse material.

● Detailed calculation of recovery was recorded, with most holes achieving over 95%

● No relationship has yet been noted between recovery and grade and no sample bias was noted to have occurred.

●Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

●Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

● The total length and percentage of the relevant intersections logged.

● Detailed geological and geotechnical logging was completed for each hole.

● All core has been photographed.

●If core, whether cut or sawn and whether quarter, half or all core taken.

●If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

●For all sample types, the nature, quality and appropriateness of the sample preparation technique.

●Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.

●Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

● Whether sample sizes are appropriate to the grain size of the material being sampled.

● Half core was sampled, using a core saw.

● Duplicate samples of new and historical core are Quarter core or half core where not previously sampled

● Sample sizes are considered appropriate for the grain size of the material being sampled.

● It is expected that bulk sampling will be utilised as the project advances, to more accurately determine grade.

●The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

●For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

● Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

● Core samples that have been sent to the lab for analysis include control samples (standards, blanks and prep duplicates) inserted at a minimum rate of 1:5 samples.

● In addition to the minimum rate of inserted control samples, a standard or a blank is inserted following a zone of mineralization or visible gold

● Further duplicate samples were analysed to assess variability

●The verification of significant intersections by either independent or alternative company personnel.

●The use of twinned holes.

●Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

● Discuss any adjustment to assay data.

●Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

●Specification of the grid system used.

● Quality and adequacy of topographic control.

● All sampling points were surveyed using a hand held GPS.

● A more accurate survey pickup will be completed at the end of the program, to ensure data is appropriate for geological modelling and Resource Estimation.

● Down hole surveys have been completed on all holes.

●Data spacing for reporting of Exploration Results.

●Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

● Whether sample compositing has been applied.

● Most drilling is targeting verification and extension of known mineralisation.

● It is expected that the data will be utilised in a preparation of a Mineral Resource statement.

● Additional drilling is exploration beneath geochemical anomalies, and would require further delineation drilling to be incorporated in a Mineral Resource.

●Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

● If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

● In general, the aim was to drill perpendicular to the mineralised structures, to gain an estimate of the true thickness of the mineralised structures.

● At several locations, a series (fan) of holes was drilled to help confirm the orientation of the mineralised structures and to keep land disturbance to a minimum.

Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

●Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

● The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

● The Blackdome-Elizabeth Project is comprised of 73 contiguous mineral claims underlain by 14 Crown granted mineral claims and two mining leases.

● The Property is located in the Clinton and Lillooet Mining Divisions approximately 230 km NNE of Vancouver

● Tempus has exercised the option to acquire the Elizabeth Gold Project and has completed an addendum to the original Elizabeth Option Agreement

(refer to ASX announcement 15 December 2020)

● A net smelter royalty of 3% NSR (1% purchasable) applies to several claims on the Elizabeth Property.

● No royalties apply to the Blackdome Property or Elizabeth Regional Properties.

● There are currently no known impediments to developing a project in this area, and all tenure is in good standing.

● In the 1940s, placer gold was discovered in Fairless Creek west of Blackdome Summit. Prospecting by Lawrence Frenier shortly afterward led to the discovery of gold-bearing quartz veins on the southwest slope of the mountain that resulted in the staking of mining claims in 1947. Empire Valley Gold Mines Ltd and Silver Standard Resources drove two adits and completed basic surface work during the 1950s.

● The Blackdome area was not worked again until 1977 when Barrier Reef Resources Ltd. re-staked the area and performed surface work in addition to underground development. The Blackdome Mining Corp. was formed in 1978 and performed extensive surface and underground work with various joint venture partners that resulted in a positive feasibility study. A 200 ton/day mill, camp facilities and tailings pond were constructed and mining operations officially commenced in 1986. The mine ceased operations in 1991, having produced 225,000 oz of Au and 547,000 oz of Ag from 338,000 tons of ore (Godard et al., 2010)

● After a period of inactivity, Claimstaker Resources Ltd. took over the project, reopening the mine in late 1998.

Mining operations lasted six months and ended in May of 1999. During this period, 6,547 oz of Au and 17,300 oz of Ag were produced from 21,268 tons of ore. Further exploration programs were continued by Claimstaker over the following years and a Japanese joint venture partner was brought onboard that prompted a name change to J-Pacific Gold Inc. This partnership was terminated by 2010, resulting in another name change to Sona Resources Corp.

● Gold-bearing quartz veins were discovered near Blue Creek in 1934, and in 1940-1941 the Elizabeth No. 1-4 claims were staked.

● Bralorne Mines Ltd. optioned the property in 1941 and during the period 1948-1949, explored the presently- named Main and West Veins by about 700 metres of cross-cutting and drifting, as well as about 110 metres of raises.

● After acquiring the Elizabeth Gold Project in 2002, J- Pacific (now Sona) has conducted a series of exploration programs that included diamond drilling 66 holes totalling 8962.8 metres (up until 2009) Other exploration work by Sona at the Elizabeth Gold Project has included two soil grid, stream sediment sampling, geological mapping and sampling, underground rehabilitation, structural mapping and airborne photography and topographic base map generation.

● The Blackdome property is situated in a region underlain by rocks of Triassic to Tertiary age. Sedimentary and igneous rocks of the Triassic Pavilion Group occurring along the Fraser River represent the oldest rocks in the region. A large, Triassic age, ultramafic complex (Shulaps Complex) was emplaced along the Yalakom fault; a regional scale structure located some 30 kilometres south of the property. Sediments and volcanics of the Cretaceous Jackass Mountain Group and Spences Bridge/Kingsvale Formations overlie the Triassic assemblages. Some of these rocks occur several kilometres south of Blackdome.

● Overlying the Cretaceous rocks are volcanics and minor sediments of Eocene age. These rocks underlie much of

Blackdome and are correlated with the Kamloops Group seen in the Ashcroft and Nicola regions.

Geochemical studies (Vivian, 1988) have shown these rocks to be derived from a "calc-alkaline" magma in a volcanic arc type tectonic setting. Eocene age granitic intrusions at Poison Mountain some 22 kilometres southwest of Blackdome are host to a gold bearing porphyry copper/molybdenum deposit. It is speculated that this or related intrusions could reflect the source magmas of the volcanic rocks seen at Blackdome. There is some documented evidence of young granitic rocks several kilometres south of the mine near Lone Cabin Creek.

The youngest rocks present are Oligocene to Miocene basalts of the Chilcotin Group. These are exposed on the uppermost slopes of Blackdome Mountain and Red Mountain to the south.

● Transecting the property in a NE-SW strike direction are a series of faults that range from vertical to moderately westerly dipping. These faults are the principal host structures for Au- Ag mineralisation. The faults anastomose, and form sygmoidal loops.

● The area in which the Elizabeth Gold Project is situated is underlain by Late Paleozoic to Mesozoic rock assemblages that are juxtaposed across a complex system of faults mainly of Cretaceous and Tertiary age. These Paleozoic to Mesozoic-age rocks are intruded by Cretaceous and Tertiary-age stocks and dykes of mainly felsic to intermediate composition, and are locally overlain by Paleogene volcanic and sedimentary rocks. The Elizabeth Gold Project is partly underlain by ultramafic rocks of the Shulaps Ultramafic Complex, which include harzburgite, serpentinite and their alteration product listwanite.

● The gold mineralisation found on the Elizabeth Gold Project present characteristics typical of epigenetic mesothermal gold deposits. The auriferous quartz vein mineralisation is analogous to that found in the Bralorne- Pioneer deposits. Gold mineralisation is hosted by a series of northeast trending, steeply northwest dipping veins that crosscut the Blue Creek porphyry intrusion. The Main and West vein systems display mesothermal textures, including ribboned-laminated veins and comprehensive wall rock breccias. Vein formation and gold mineralisation were associated with extensional-

brittle faulting believed to be contemporaneous with mid- Eocene extensional faulting along the Marshall Creek, Mission Ridge and Quartz Mountain faults.

●A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

oeasting and northing of the drill hole collar

oelevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

odip and azimuth of the hole

odown hole length and interception depth

●If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding

of the report, the Competent Person should clearly explain why this is the case.

●In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

●Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

● The assumptions used for any reporting of metal equivalent values should be clearly stated.

● Intervals reported using several samples are calculated using a weighted average.

● Calculated intervals using a weighted average did not use a top cut on high-grade samples. High-grade samples are reported as ‘including'

● Calculated weighted average intervals are continuous intervals of a mineralized zone and do not include unsampled intervals or unmineralized intervals.

●These relationships are particularly important in the reporting of Exploration Results.

●If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

●If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not

● In general, drilling is designed to intersect the mineralized zone at a normal angle, but this is not always possible.

● For the reported intervals, true widths are reported where mineralized core was intact and possible to measure the orientation. Otherwise the true width is left blank

●Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill

hole collar locations and appropriate sectional views.

●Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration

●Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating

● Tempus recently completed an airborne magnetic and radiometric survey over the Elizabeth Gold Project (refer to ASX announcement 02 August 2021) by completing 97 lines for a total of 735 line-kilometres. Flight lines are oriented east-west with north-south tie lines and spaced 200 metres across the entire 115km2 Elizabeth property. Line spacing of 100 metres was flown over the Elizabeth Main and Elizabeth East Zones.

● The airborne magnetic survey data was reviewed and interpreted by Insight Geophysics Inc. using 3D magnetization vector inversion (MVI) modelling.

● The geophysical surveys identified the Blue Creek Porphyry, which is the known host of the high-grade Elizabeth gold-quartz veins, as a relative magnetic low anomaly within the Shulaps Ultramafic Complex. From this correlation of geology and geophysics it was determined that the Blue Creek Porphyry, originally explored / mapped to approximately 1.1km2 in size, is likely much larger. The airborne magnetic survey and MVI 3D modelling interpret the Blue Creek Porphyry to be at least four-times the size at approximately 4.5km2.

● This interpretation of the Blue Creek Porphyry is also extensive at depth extending to at least 2km deep

●The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large- scale step-out drilling).

●Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this

information is not commercially sensitive.

● Tempus plans to update historical NI43-101 foreign resource estimates to current NI43-101 and JORC 2012 standards

● Tempus is also seeking to expand the scale of the mineralisation at the project through further exploration.

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Breaker Resources NL is pleased to advise that COO, Sam Smith will be presenting at the Switzer July Virtual Small & Micro Cap Investor Day today at 9.30am AEST / 7.30am AWST.

The presentation slides to be delivered by Mr Smith are attached.

Investors can register and watch the conference livestream at no cost by clicking here.

Authorised by the Board of Directors,

For further information on Breaker Resources NL please visit the Company’s website at www.breakerresources.com.au, or contact:

Email: breaker@breakerresources.com.au

Click here for the full ASX Release

This article includes content from Breaker Resources NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

After 2020’s broad disruptions put a damper on mining exploration, project financing was able to recoup 2020’s losses last year with spending growing 35 percent year-over-year.

Rising commodity prices also added tailwinds to the sector as an additional 200 companies announced plans to get shovels into the ground.

Unfortunately, 2021’s momentum has somewhat waned this year as runaway energy prices and record high inflation make junior financing more challenging.

“As we move into 2022, there's been a lot more market volatility, a little bit less support,” Mark Ferguson, research director and head of mining studies at S&P Global Market Intelligence, said during a presentation at the Prospectors and Developers Association of Canada (PDAC) conference.

“March wasn't too, too bad," he said. "And even the data in May was weaker than anyone expected. We saw a little bit of downside risk to sustaining current exploration.”

Some of the downside will be offset by skyrocketing commodity prices that have seen the cost of everything from agricultural inputs to lithium rise significantly in the last 12 months. While inflation and energy may add to overhead costs, higher values make margins lucrative for exploration.

As such, the research director and head of mining studies is forecasting a 5 to 15 percent increase in exploration budgets.

“I’d say energy minerals uranium, lithium, cobalt and nickel should see more benefit just because their prices are low,” Ferguson said. “But gold and copper will still be at the forefront.”

Scott McLean, president and executive chairman of Transition Metals (TSXV:XTM) — a company exploring for gold, copper, nickel and platinum group metals across Canada — explained his company has taken some of the risk out of exploration by leveraging partnership deals.

“Our model is to acquire assets and then sell interest in those assets to other partners who come in and help us, and as a result of that we have de-risked a lot of the exploration,” McLean said. “But we also don't have a real need to finance a lot of time because we aren't selling equity in the company. And we are bringing in option agreements and option payments and being able to sell securities that we hold on our balance sheet as well.”

Despite the position Transition Metals holds, McLean did acknowledge that a lot of people are “getting hammered in the stock market.”

“I know of other colleagues (who) are having difficulty raising money in traditional markets,” he said. “When you look at the stock market, nobody's buying anything these days. Everything is flat, there's no volume on these stocks and nobody's interested.”

On the other end of the spectrum, Dave Harper, president and CEO of drilling services company Geo Drill (TSX:GEO), says business is booming despite inflation.

“We're in a situation where costs are rising, and we just have to pass those costs on to our customers, unfortunately,” Harper said. “You know, we're in a fortunate situation where gold is at about US$1,850 an ounce at the moment, so the drilling sector is very busy."

In fact, the price of gold has held above US$1,800 for most of 2022 and has even rivaled its previous all-time high earlier this year.

“So, we have some leverage in terms of being able to raise our prices without getting too much pushback. You certainly wouldn't want to have this situation occurring in the bottom of the cycle when rig utilization is low,” said the CEO of the primarily gold-focused drill company.

Harper went on to note that drilling rig utilization across the world is increasing, meaning "there's less rigs out there to do more drilling."

The recent rise in drilling activity was also noted by Ferguson during his presentation and attributed to both price growth and demand recovery.

“You go back into 2020 (and there was) a fairly low level of drilling,” Ferguson said. “Then you started to see the gold components start to pick up as companies that are focused on gold capitalized on a rising gold price.”

That uptick continued into 2021, when Ferguson also saw the number of copper projects start to increase.

“And I'm actually happy to say in our May edition, we had the most copper projects drilled since we started compiling this dataset almost a decade ago,” he added.

In terms of mining investment, Latin America continues to garner increased attention, especially nations with large lithium reserves. After myriad disruptions and challenges brought on by COVID-19, the South American mining sector has been working towards recovery even in the face of rampant inflation.

“I think for miners, they can absorb a lot of cost increases given just how much metal prices have gone up, so we haven't really seen much of a slowdown,” John Price, managing director at Americas Market Intelligence, told INN. “Now that may change as monetary policies change, but for the moment, there's a lot of enthusiasm, a lot of investment going forward.”

The managing director did point out that Latin America experienced “serious supply chain interruptions” early on in the pandemic. Some of those challenges have now translated into issues with importing machinery from Asia.

“This has been an issue that several miners have called out to, but generally speaking what the Latin Americans control in terms of transportation costs, in terms of labor costs, in terms of their own operational capabilities, things are going at full tilt.”

Globally, the mining market is expected to grow from US$1.84 trillion in 2021 to US$2.06 trillion this year, registering a compound annual growth rate (CAGR) of 12 percent.

That will double by another 12.9 percent in 2026 when the sector is forecasted to total US$3.36 trillion.

The sector is also anticipated to benefit from government policy that encourages project development and funding as well as foreign investment.

“Metals prices have been fairly healthy even though there's a lot of volatility,” Ferguson concluded.

“There's been some sliding in those prices recently; (although) they're still above historical norms, we see that continuing to provide support for the sector.”

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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