Highlights:
- Callinex Mines Inc. has been awarded a grant of up to $150,000 through the Newfoundland and Labrador Junior Exploration Assistance (JEA) Program for its Point Leamington Project.
- The Company has received additional exploration permits for the Pt. Leamington Project, approved two weeks after submission, highlighting Newfoundland&s streamlined and mining-friendly jurisdiction.
- The funding and permits support Callinex&s planned 2025 exploration campaign aimed at expanding the current resource base with new near surface mineralization and making discoveries along strike from the deposit.
- The JEA approval and rapid permit processing underscore Newfoundland&s supportive mining jurisdiction and align with Callinex&s strategy to advance high-potential critical mineral projects.
VANCOUVER, British Columbia, July 15, 2025 (GLOBE NEWSWIRE) -- Callinex Mines Inc. (the “Company& or “Callinex&) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has received approval for a grant of up to $150,000 from the Newfoundland and Labrador Junior Exploration Assistance (JEA) Program for its 100% owned Point Leamington Project (the “Project&). Additionally, the Company has secured additional exploration permits from the Department of Natural Resources, Newfoundland and Labrador, for the Project, which encompasses the Pt. Leamington volcanogenic massive sulphide (“VMS&) Deposit, located on the island of Newfoundland, hosting a significant resource of gold, copper, zinc, and silver. The permits were approved just two weeks after submission, demonstrating the province&s streamlined approach and reputation as a mining-friendly jurisdiction.
Max Porterfield, President & CEO of Callinex Mines, stated, “We are thrilled to receive this significant financial support from the Newfoundland and Labrador JEA Program, alongside the rapid approval of additional exploration permits. The swift permitting process, with approvals granted just two weeks after submission, underscores Newfoundland&s reputation as a tier-one mining jurisdiction. This grant and the expanded permits position us to aggressively advance the Pt. Leamington Project, expanding the resource base and unlocking the critical mineral potential of this exciting project.&
The JEA grant, administered by the Department of Industry, Energy and Technology, Newfoundland and Labrador, supports the Company&s 2025 exploration plans targeting critical minerals as the primary exploration focus. The funding will contribute to exploration work aimed at expanding the Pt. Leamington Deposit and refining and testing exploration targets along strike. The additional permits expand the scope of approved activities to include prospecting, geologic mapping, and geochemical rock sampling within prospective areas of the broader land package, further advancing exploration efforts.
The Point Leamington Project, consisting of a mining lease and exploration claims, is located approximately 37km by road and trails from the City of Grand Falls-Windsor and approximately 20km from the provincial power grid. The Deposit is a large, felsic-hosted VMS deposit with 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).
The planned exploration campaign will leverage the recently secured two-year exploration permit (valid through June 2027) for ground geophysics and diamond drilling, as well as the newly approved permits for surface field exploration. These additional permits enable prospecting, geologic mapping, and geochemical sampling to refine high-priority targets identified from airborne electromagnetic anomalies along strike from the Deposit.
The JEA Program&s financial support and the Department of Natural Resources& efficient permitting process highlight Newfoundland and Labrador&s commitment to fostering exploration and development of critical mineral resources.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Aaryn Hutchins, P. Geo, a qualified person under NI 43-101. Ms. Hutchins is a consultant of the Company and is independent of the Company.
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. 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 and the portfolio includes the Nash Creek Project in the VMS-rich Bathurst Mining District of New Brunswick.
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.
