Robex Resources Inc.: New Special Dividend of 4 Cents Per Share and Double Indicated Resources

 

QUEBEC CITY, Sept. 11, 2020 (GLOBE NEWSWIRE) -- Robex Resources Inc. (“Robex” or “the Company”) (TSXV: RBX/FWB: RB4) is pleased to publish a progress report on its current exploration campaign.

PROGRESS OF THE CURRENT CAMPAIGN

Robex announced the execution in 2020 of an important exploration campaign on the NAMPALA site. This campaign’s operations targeting 8 zones, including 3 for definition, 3 for exploration and 2 for condemnation, have been delayed this year due to the COVID-19 pandemic and the significant rainy season.

For this campaign, 3 drills were planned full time, but 7 drills will now be put into operation on site to make up for the delay. Consequently, our objective of completing the campaign by the end of the year or early in 2021 should be maintained.

A total of 41,280 metres of drilling has already been completed as of September 5, 2020.

RECONCILIATION WORK

Robex started reconciliation work on all pit operations since the start of production in January 2017. The purpose of this work is to refine mineralization knowledge in addition to the information collected from previous drilling campaigns and the 43-101 that followed.

This work, carried out on the 6,000,000 tonnes of processed mineralized material, has allowed us to:

• Refine the density model and validate the pit operating procedures. Indeed, before each excavation, additional channel sampling is conducted to increase the grade measurement accuracy.
• Following the installation of a main crusher on August 1, 2019, we processed 258,443 tonnes of mineralized material located in the Transition zone of the main pit.  Initially, this ore was classified as a Resource due to the lack of metallurgical testing in this zone.  These encouraging results require further testing before we can determine whether all or part of the transition can be added to our reserves.
• Given low production costs and the geological model, very low-grade mineralized material was processed cost-effectively during the confinement period.  Consequently, the operational cut-off grade has been reduced from 0.38 g/t to 0.25 g/t.  The excavated low-grades are stored near the ROM pad.

EXPLORATION CAMPAIGN - INTERIM RESULTS

The ZE1 zone located east of the main pit is completed. Here are several intersections from the current campaign:

Name of hole	From	To	Grade (g/t Au)	Length (in m)	True Width (in m)	Type	Zone	Date	Drilled	Az	Dip	TW%
NAM2020AC-582	35	55	2.73	20	17.2	RC	E1	20200805	101	110	-50	86	%
NAM2020RC-317	17	47	1.65	30	26.0	RC	E1	20200308	90	110	-50	87	%
NAM2020AC-440	16	33	2.58	17	14.7	RC	E1	20200603	80	110	-50	87	%
NAM2020RC-304	1	24	1.69	23	19.9	RC	E1	20200217	84	110	-50	87	%
NAM2020AC-583	55	70	2.04	15	13.0	RC	E1	20200805	114	110	-50	87	%
NAM2020AC-353	15	36	1.42	21	17.9	RC	E1	20200326	97	110	-50	85	%
NAM2020AC-436	60	84	1.22	24	20.8	RC	E1	20200602	84	110	-50	87	%
NAM2020AC-372	24	48	1.09	24	20.7	RC	E1	20200409	90	110	-50	86	%
NAM2020AC-516	63	78	1.71	15	13.0	RC	E1	20200702	84	110	-50	87	%
NAM2020AC-356	0	23	1.04	23	19.9	RC	E1	20200328	85	110	-50	87	%
NAM2020AC-434	8	29	1.12	21	18.2	RC	E1	20200601	81	110	-50	87	%
NAM2020AC-452	47	66	1.23	19	16.5	RC	E1	20200609	90	110	-50	87	%
NAM2020AC-380	49	62	1.75	13	11.3	RC	E1	20200415	90	110	-50	87	%
NAM2020AC-577	72	86	1.60	14	12.1	RC	E1	20200808	98	110	-50	87	%
NAM2020RC-324	74	84	2.34	10	8.2	RC	E1	20200316	108	110	-50	82	%
NAM2020AC-439	33	54	0.99	21	18.2	RC	E1	20200603	84	110	-50	87	%
NAM2020AC-458	39	47	2.53	8	6.9	RC	E1	20200611	90	110	-50	87	%
NAM2020RC-315	47	67	0.92	20	17.0	RC	E1	20200305	84	110	-50	85	%
NAM2020AC-477	9	30	0.85	21	18.2	RC	E1	20200620	80	110	-50	87	%
NAM2020AC-411	65	79	1.28	14	11.8	RC	E1	20200505	86	110	-50	84	%
NAM2020AC-436	28	43	1.15	15	13.0	RC	E1	20200602	84	110	-50	87	%
NAM2020AC-474	59	80	0.81	21	18.2	RC	E1	20200618	90	110	-50	87	%
NAM2020AC-422	44	56	1.42	12	10.2	RC	E1	20200511	90	110	-50	85	%
NAM2020AC-414	20	40	0.84	20	17.2	RC	E1	20200506	73	110	-50	86	%
NAM2020AC-1247	3	14	1.52	11	9.5	RC	E1	20200324	95	110	-50	86	%
NAM2020AC-458	77	86	1.84	9	7.8	RC	E1	20200611	90	110	-50	87	%
NAM2020AC-473	43	57	1.18	14	12.1	RC	E1	20200618	90	110	-50	87	%
NAM2020AC-352	26	33	2.31	7	6.1	RC	E1	20200326	101	110	-50	87	%
NAM2020RC-305	2	9	2.25	7	6.1	RC	E1	20200218	108	110	-50	87	%
NAM2020AC-503	59	72	1.20	13	11.3	RC	E1	20200702	79	110	-50	87	%
NAM2020RC-316	54	76	0.69	22	19.0	RC	E1	20200308	90	110	-50	86	%
NAM2020AC-1246	6	13	2.16	7	6.0	RC	E1	20200324	107	110	-50	85	%
NAM2020AC-356	33	40	2.10	7	6.0	RC	E1	20200328	85	110	-50	86	%
NAM2020AC-432	33	51	0.81	18	15.6	RC	E1	20200530	74	110	-50	87	%
NAM2020AC-459	32	48	0.87	16	13.9	RC	E1	20200612	90	110	-50	87	%
NAM2020AC-372	58	72	0.99	14	12.1	RC	E1	20200409	90	110	-50	86	%
NAM2020RC-341	50	58	1.70	8	6.8	RC	E1	20200328	90	110	-50	85	%
NAM2020AC-432	52	65	1.02	13	11.3	RC	E1	20200530	74	110	-50	87	%
NAM2020AC-399	36	50	0.91	14	12.0	RC	E1	20200428	77	110	-50	86	%
NAM2020RC-322	46	56	1.31	10	8.4	RC	E1	20200314	90	110	-50	84	%
NAM2020AC-375	40	53	0.98	13	11.1	RC	E1	20200413	90	110	-50	85	%
NAM2020AC-500	78	90	1.04	12	10.4	RC	E1	20200630	90	110	-50	87	%
NAM2020AC-441	9	19	1.24	10	8.7	RC	E1	20200604	79	110	-50	87	%
NAM2020AC-505	12	18	2.06	6	5.2	RC	E1	20200630	90	110	-50	87	%
NAM2020AC-438	74	84	1.19	10	8.7	RC	E1	20200602	90	110	-50	87	%
NAM2020AC-436	45	56	1.06	11	9.5	RC	E1	20200602	84	110	-50	87	%
NAM2020RC-318	28	35	1.64	7	6.0	RC	E1	20200309	90	110	-50	86	%
NAM2020AC-497	70	74	2.70	4	3.5	RC	E1	20200629	85	110	-50	87	%
NAM2020AC-497	17	29	0.90	12	10.4	RC	E1	20200629	85	110	-50	87	%
NAM2020AC-463	25	31	1.79	6	5.2	RC	E1	20200613	68	110	-50	87	%
NAM2020AC-486	7	22	0.71	15	13.0	RC	E1	20200624	90	110	-50	87	%
NAM2020AC-414	41	50	1.18	9	7.7	RC	E1	20200506	73	110	-50	86	%
NAM2020AC-453	43	54	0.96	11	9.5	RC	E1	20200610	90	110	-50	87	%

Name of hole	From	To	Grade (g/t Au)	Length (in m)	True Width (in m)	Type	Zone	Date	Drilled	Az	Dip	TW%
NAM2020AC-533	25	31	1.73	6	5.2	RC	E1	20200708	108	110	-50	87	%
NAM2020AC-549	71	79	1.30	8	6.9	RC	E1	20200715	90	110	-50	87	%
NAM2020RC-311	50	62	0.87	12	10.2	RC	E1	20200229	69	110	-50	85	%
NAM2020AC-497	30	37	1.46	7	6.1	RC	E1	20200629	85	110	-50	87	%
NAM2020AC-357	62	68	1.69	6	5.2	RC	E1	20200328	76	110	-50	87	%
NAM2020RC-306	12	23	0.92	11	9.5	RC	E1	20200219	90	110	-50	87	%
NAM2020AC-472	38	44	1.68	6	5.2	RC	E1	20200618	90	110	-50	87	%
NAM2020AC-517	15	23	1.25	8	6.9	RC	E1	20200703	90	110	-50	87	%
NAM2020AC-419	66	72	1.71	6	5.1	RC	E1	20200508	78	110	-50	84	%
NAM2020AC-382	41	54	0.78	13	11.0	RC	E1	20200416	69	110	-50	85	%
NAM2020RC-319	44	51	1.43	7	6.0	RC	E1	20200311	90	110	-50	86	%
NAM2020AC-442	17	23	1.65	6	5.2	RC	E1	20200604	70	110	-50	87	%
NAM2020AC-394	66	77	0.94	11	9.1	RC	E1	20200424	90	110	-50	83	%
NAM2020AC-538	79	86	1.41	7	6.1	RC	E1	20200713	96	110	-50	87	%
NAM2020AC-535	23	31	1.22	8	6.9	RC	E1	20200709	96	110	-50	87	%
NAM2020AC-508	3	13	0.96	10	8.7	RC	E1	20200701	50	110	-50	87	%
NAM2020AC-451	37	47	0.93	10	8.7	RC	E1	20200608	64	110	-50	87	%
NAM2020AC-444	57	64	1.32	7	6.1	RC	E1	20200605	64	110	-50	87	%
NAM2020RC-340	75	84	1.02	9	7.7	RC	E1	20200327	84	110	-50	85	%
NAM2020AC-429	19	23	2.14	4	3.4	RC	E1	20200514	90	110	-50	86	%
NAM2020AC-1250	1	13	0.70	12	10.4	RC	E1	20200325	107	110	-50	87	%
NAM2020AC-439	66	77	0.75	11	9.5	RC	E1	20200603	84	110	-50	87	%
NAM2020AC-388	52	60	1.04	8	6.8	RC	E1	20200421	71	110	-50	85	%
NAM2020AC-516	13	22	0.91	9	7.8	RC	E1	20200702	84	110	-50	87	%
NAM2020RC-301	15	24	0.92	9	7.6	RC	E1	20200214	80	110	-50	85	%
NAM2020RC-312	29	34	1.66	5	4.2	RC	E1	20200302	90	110	-50	85	%
NAM2020RC-351	25	30	1.63	5	4.2	RC	E1	20200323	90	110	-50	85	%
NAM2020AC-433	58	67	0.88	9	7.8	RC	E1	20200530	80	110	-50	87	%
NAM2020AC-392	50	59	0.89	9	7.6	RC	E1	20200422	84	110	-50	85	%
NAM2020AC-460	84	90	1.28	6	5.2	RC	E1	20200612	90	110	-50	87	%
NAM2020AC-509	63	75	0.64	12	10.4	RC	E1	20200702	90	110	-50	87	%
NAM2020AC-372	82	90	0.95	8	7.0	RC	E1	20200409	90	110	-50	87	%
NAM2020AC-348	24	30	1.27	6	5.2	RC	E1	20200401	77	110	-50	86	%
NAM2020RC-306	33	41	0.95	8	6.9	RC	E1	20200219	90	110	-50	86	%
NAM2020AC-360	52	60	0.96	8	6.8	RC	E1	20200403	77	110	-50	85	%
NAM2020AC-575	45	51	1.26	6	5.2	RC	E1	20200807	110	110	-50	86	%
NAM2020AC-574	66	70	1.89	4	3.4	RC	E1	20200807	101	110	-50	85	%
NAM2020AC-391	57	61	1.87	4	3.4	RC	E1	20200422	81	110	-50	85	%
NAM2020AC-380	25	32	1.05	7	6.1	RC	E1	20200415	90	110	-50	87	%
NAM2020AC-358	41	48	1.06	7	6.0	RC	E1	20200402	90	110	-50	85	%
NAM2020RC-303	53	61	0.93	8	6.8	RC	E1	20200217	78	110	-50	84	%
NAM2020AC-367	29	35	1.23	6	5.1	RC	E1	20200407	78	110	-50	85	%
NAM2020AC-472	52	59	1.04	7	6.1	RC	E1	20200618	90	110	-50	87	%
NAM2020AC-411	52	63	0.67	11	9.3	RC	E1	20200505	86	110	-50	85	%
NAM2020RC-319	72	80	0.90	8	6.8	RC	E1	20200311	90	110	-50	85	%
NAM2020AC-440	36	41	1.39	5	4.3	RC	E1	20200603	80	110	-50	87	%
NAM2020AC-452	22	29	0.99	7	6.1	RC	E1	20200609	90	110	-50	87	%
NAM2020AC-347	51	59	0.87	8	6.9	RC	E1	20200401	79	110	-50	86	%
NAM2020AC-460	25	32	0.98	7	6.1	RC	E1	20200612	90	110	-50	87	%
NAM2020RC-308	35	39	1.72	4	3.4	RC	E1	20200225	78	110	-50	85	%
NAM2020AC-399	24	33	0.76	9	7.7	RC	E1	20200428	77	110	-50	86	%
NAM2020RC-341	61	68	0.99	7	5.9	RC	E1	20200328	90	110	-50	84	%
NAM2020AC-556	18	26	0.84	8	6.9	RC	E1	20200721	126	110	-50	87	%
NAM2020AC-405	72	78	1.12	6	5.2	RC	E1	20200501	90	110	-50	87	%

The Resource update is performed taking into account:

• 28,346 samples received from the drilling campaign carried out on the ZE1 zone;
• Reconciliation work that enabled us to refine the density model; and
• A recent increase in the price of gold and the control of production costs at the Nampala mine. 

This allows us to establish an increase of +103% in indicated resources for the Nampala property bringing the total to 869,000 oz compared to the last Mineral Resources estimate (MRE2019). The Company will file an independent technical report to support the updated mineral resource within 45 days of this press release.

Nampala Mineral Resources (MRE2020) are reported in thousands of ounces.

Category	Cut-Off	Weathering type	Density	Tonnage	Grade	Metal content
	Au (g/t)		(t/m3)	(000 t)	Au (g/t)	Au (000 oz)
Indicated	0.25	Oxide	1.80	21,422	0.63	435
	0.33	Transition	2.36	6,158	0.82	163
	0.31	Fresh Rock	2.79	10,307	0.82	271
	Subtotal			37,887	0.71	869
Inferred	0.25	Oxide	1.77	542	0.55	10
	0.33	Transition	2.47	213	0.71	5
	0.31	Fresh Rock	2.79	2,235	0.72	52
	Subtotal			2,989	0.69	66
Total			2.10	40,876	0.71	936

Notes regarding the table:

1. The independent and qualified person for the Mineral Resource estimate, as defined by NI 43-101, is Mr. Denis Boivin, B.Sc., Geo. (OGQ #816) and Mr. Mario Boissé, Mining Eng. (OIQ # 130715), and the effective date of the estimate is July 31, 2020.
2. The mineral resource is not a mineral reserve as it has not demonstrated economic viability. Further metallurgical testing is required to analyze the economic potential of the mineral resource found in the transition and fresh rock zones.
3. The mineral resource estimate follows the 2014 CIM definitions and guidelines.
4. Results are presented on-site and undiluted for the open-pit scenario and are considered to have reasonable prospects for profitable mining.
5. In terms of classification: the distance to the closest (composite) point (DCP) must be less than or equal to 30 metres to be considered an indicated resource. The inferred resource is at a distance greater than 30 metres and less than 100 metres.
6. Grade interpolation was performed on the Nampala mining permit from 2-metre drill composites using the grade of the material assayed and clipped at 15 g/t Au. The grade model was interpolated according to the structural patterns of the mineralized zones using the Leapfrog Geo v5.1.0 software Radial Basis Function (RBF) method and assessed in a model pointed at 20 degrees North with blocks of the same size (5 m x 15 m x 5 m). On-site densities were interpolated using the respective oxidation levels.
7. The mineral resource is contained within an economic envelope built with the MineSight - Project Evaluator V1.0.4.3902 Lerch-Grossman optimization tool. Only the indicated resource is taken into account to generate the economic envelope. The following economic parameters are used in the optimization:

Description	UOM	MRE2020
		Oxide	Transition	Fresh Rock
Gold price	USD/oz	1,700	1,700	1,700
Mining costs	USD/t mined	2.08	2.51	2.65
General and administrive costs	USD/t milled	2.48	2.48	2.48
CIL (processing, refining and selling)	USD/t milled	9.31	10.24
Heap leach (processing, refining and selling)	USD/t milled			9.19
Mill recovery	%	88.9	71.9
Heap leach recovery	%			70.0

8. The slope of the economic envelope is set to 45 degrees. 
9. The number of metric tonnes has been rounded to the nearest thousand and the metal grade is presented in troy ounces (tonne x grade / 31.10348). Any discrepancies between totals are due to rounding effects. Rounding practices comply with the recommendations outlined in Form 43-101A1. 
10. Except for the current political instability in Mali, Denis Boivin P.Geo and Mario Boissé Eng. are not aware of any environmental, permits, legal, title-related, fiscal, sociopolitical or marketing issues, or any other relevant issues that could have a significant impact on the Mineral Resource estimate.

Denis Boivin, P.Geo., on-site consulting geologist, is the qualified and independent person under NI 43-101 who has reviewed and approved the disclosure of the geological information contained in this press release.

The Indicated Mineral Resources is coloured Gold (On-site) and the excavated Mineral Resources is coloured Red, plan view.

Image of the pit area and the ZE1 zone (on the right side of the image).

https://www.globenewswire.com/NewsRoom/AttachmentNg/a23141e2-51ea-491a-bbdb-e9435533811f

Image of the Indicated Mineral Resources coloured Gold (On-site) and Red (Excavated), oblique view.

https://www.globenewswire.com/NewsRoom/AttachmentNg/3d080cca-6fff-41f8-a822-75aace0424c5

SPECIAL DIVIDEND

Considering the Company’s financial results, the Board of Directors has announced a special dividend of 4 cents to be paid on September 25, 2020, for each issued and outstanding common share listed at market close on September 16, 2020.

A word from the President, Mr. Georges Cohen:
- These initial exploration results are significant, very satisfactory and encouraging for the future of this exploration program.
This allows us to anticipate a considerable extension of the mine’s life, the results of which we will confirm when we publish an estimate of mineral reserves at year-end.

Having a second confirmed pit is the first solid result of this exploration campaign.

- The current cash position and prospects allow us to distribute a second special dividend of 4 cents, bringing the dividend distribution to 6 cents per share as of January 2020.

For information:

Robex Resources Inc.

Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
Head office: (581) 741-7421
info@robexgold.com

This news release contains statements that may be considered “forecast information” or “forecast statements” in terms of security rights. These forecasts are subject to uncertainties and risks, some of which are beyond the control of Robex. Achievements and final results may differ significantly from forecasts made implicitly or explicitly. These differences can be attributed to many factors, including market volatility, the impact of the exchange rate and interest rate fluctuations, mispricing, the environment (hardening of regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government policies or regulations (laws and policies), an inability to obtain necessary permits and approvals from government agencies, or any other risk associated with mining and development. There can be no assurance that the circumstances set out in these forecasts will occur, or even benefit Robex, if any. The forecasts are based on the estimates and opinions of the Robex management team at the time of publication. Robex makes no commitment to make any updates or changes to these publicly available forecasts based on new information or events, or for any other reason, except as required by applicable security laws. The TSX Venture Exchange or the Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the authenticity or accuracy of this news release.