Berkwood and the Carbon6 Group enter into an Offtake agreement

News Release Video: https://youtu.be/sYDJzGHhbuM

November 26, 2019, VANCOUVER, B.C. – Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2N, WKN: A2DNV4) (“Berkwood” or the “Company”) is pleased to announce that it has entered into an offtake agreement and Memorandum of Understanding (“MOU”) with the Carbon6 Group of Companies (“C6”) of Toronto, ON to advance the Company’s Lac Guéret South and Lac Guéret Extensions projects with a view to securing evaluation and development funding, and long term product client arrangements.

C6 was attracted to Berkwood’s graphite because of its high grade and high percentage of large and jumbo size flakes, which is unique compared to most graphite deposits.

The offtake agreement is for up to 20,000 tonnes a year and is subject to C6’s positive analysis of Berkwood’s Graphite as well as Berkwood securing funding for development and subsequent start up of a graphite mine. Berkwood is currently developing its Lac Guéret Extension property, which host a graphite showing that include 1.76 million tons grading 17.00% Cg in the Indicated category and also 1.53 million tons grading 16.40% in the inferred category. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred Mineral Resources represent material that is considered too speculative to be included in economic evaluations. Additional trenching and/or drilling will be required to convert Inferred and Indicated Mineral Resource to Indicated or Measured Mineral Resources/Reserves.

The Carbon6 Group of Companies (“C6”) comprises specialized carbon commodity entities that lead investment in the material ownership of assets and trading relationships with graphite commodity purchasers through strategic supply agreements, royalty streams, asset acquisitions and industry joint ventures. The MOU provides for a non-exclusive relationship wherein C6 takes a long-term view of Berkwood’s development in anticipation of meeting its rapidly growing customer demand through an offtake agreement with Berkwood, the structure of which will be advanced following a product analysis and testing program to be initiated immediately by C6.

The product analysis and testing program will focus on characterisation of project products, at C6 cost, to profile preliminary Lac Guéret products against C6’s customer/feedstock requirements. The preliminary ‘graphite qualification’ characterisation work and initial report from C6 to Berkwood is anticipated to be available in less than three months.

C6 will also engage with Berkwood to seek and secure evaluation and development funding through graphite sector investors known to C6. In the event of successful financing from introductions and structuring arrangements led by C6, the Company will pay to C6 certain finders fees for funds raised through C6 subject to TSX Policy 5.1, to a maximum of 5%. Finder’s fees are payable subject to Exchange approval.

Thomas Yingling, CEO commented: “Our offtake agreement and MOU with C6 adds depth to the Berkwood Lac Guéret Extensions evaluation initiative and our emerging plans to fund our development studies for Lac Guéret South. We look forward to working with C6 to further characterise the potential products from Lac Guéret South, and to extend our relationships in the graphite trade community.”  

Paul Gorman, Director and Managing Partner of C6 commented on the new relationship stating: “the Lac Gueret South graphite deposit is a project that has high quality flake material in a mining friendly jurisdiction which will serve our North American hi tech customers extremely well once in production. Working with Tom and his team on securing development funding while we showcase his natural flake material through strategic qualification and sampling programs will position Berkwood as a leader in the critical elements and chemistry space and assist C6 in satisfying the growing global need for high purity natural graphite.”

Qualified Person: Steven Lauzier, P.Geo. OGQ1430, a Qualified Person as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content of this news release.

About the Company:  Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740     www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

November 7, 2019, VANCOUVER, B.C. – Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2N (WKN: A2DNV4) (“Berkwood” or the “Company”) announce that as a result of current market conditions, the Company will be making an application to the TSX Venture Exchange (the “Exchange”) for a waiver to the private placement price as the proposed subscription price is below the minimum allowed pursuant to the policies. The Company intends to offer a combination of units and flow through units for gross proceeds of up to $800,000. Up to 16,000,000 common share units (“units”) of the Company will be offered at a price of $0.025 per unit to raise gross proceeds of up to $400,000. Each unit will consist of one (1) common share and one common share purchase warrant (“Warrant”). Each full warrant shall entitle the holder to acquire one (1) common share at a price of $0.05 for a period of 24 months. Up to 13,333,334 flow through units (“FT Units”) will be offered at a price of $0.03 per FT Unit for gross proceeds of up to $400,000. Each FT Unit will consist of one (1) flow-through common share and one common share purchase warrant (“Warrant”). Each full warrant shall entitle the holder to acquire one (1) common share at a price of $0.05 per share for a period of 24 months.

The gross proceeds from the issuance of the FT Units will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2019, to the initial purchasers of the offered securities in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares, as applicable, and, if the qualifying expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT subscriber for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the qualifying expenditures as agreed.

The Company intends to use the $400,000 FT proceeds from the private placement for exploration on its Lac Gueret Property, Quebec and $400,000 working capital will be allocated as follows (1) $10,000 regulatory fees; (2) $45,000 office rent; (3) $30,000 business development; (4) $15,500 advertising; (5) $40,000 travel; (6) $40,000 marketing; (7) $16,000 shareholder communication; (8) $45,000 administration; (9) $6,000 transfer agent fees; (10) $15,000 legal; (11) $80,000 management fees; (12) $20,000 investor and shareholder relations; (13) $30,000 audit; and (14) $7,500 unallocated/miscellaneous. While the Company intends to spend the net proceeds from the offering as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the Board.

The Company may pay commissions in accordance with the policies of the TSX-V.

The closing of the private placement, the issuance of the securities and the finder’s fees are subject to the approval of the TSX Venture Exchange.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

Signed: “Thomas Yingling”

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:

info@berkwoodresources.com or 1-604-343-7740 www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood Retracts Disclosure Made by a Paid Service

November 4th, 2019, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR,FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”)wishes to notice a retraction of certain statements disseminated via a written article selectively disclosed via a paid content service retained by the Company, primarily for the creation of video content. The retraction is made in relation to a piece written by Mr. Alistair Ford: because Berkwood is a paid client of the content service provider, the disclosure does not comply with the requirements of NI 43-101. Specifically, the disclosure of an implied economic analysis in the absence of a filed PEA, PFS or FS that supports the representations with respect to the economic viability or technical feasibility of the project is proscribed.

The Company wished to specifically retract the following statements written by Mr. Ford, and quoting certain verbal statement by Berkwood, including that:

  • the Company’s project is adjacent to Mason Graphite Inc (CVE:LLG), a company which has one of the largest graphite deposits in the world with 56.134mlntonnes of resource at 16.30% graphite that contains 9.478mlntonnes of graphite and a reserve of 4.714mlntonnes of ore that contains 1.317mlntonnes of contained graphite, and that the premise of the Berkwood play is that graphite continues from the LLG property onto Berkwood ground;
  • that the Company has identified a NI 43-101 resource of 550,000 tonnes of contained graphite (correct), but with 70% to 80% showing up as premium quality large-size flakes that sells for $1,500 a ton on average;
  • simple math of taking 550,000 contained tonnes timesUS$1500 per tonne at a conservative 25% profit margin gives you a potential profit of more than C$200 million as a rough indicator, and that Berkwood has only drilled 20% of the prospect;
  • recent samples and trenching taken about half a kilometre away from this area have returned extremely encouraging graphite grades (correct and previously released), which indicates that the entire geophysical anomaly that the company is working on is likely to be mineralised with graphite, and high grade too (retracted);
  • the graphite outcrops are all at surface, which is ideal from an economic perspective;
  • it will take Berkwood between C$8mln and C$12mln to take the project through a bankable feasibility study and on to a decision to build and produce commercial graphite; and
  • the company will need to add to the resource, by increasing shallow depth pits with coarse flake for the highest profit margin possible.

The above statements as disseminated via the service paid for by Berkwood are retracted without reservation.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
info@berkwoodresources.com   or 1-604-343-7740   www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood Surface Sampling at Lac Guéret Extensions Graphite Property returns numerous graphite samples, including grab samples up to 55.8% Cg and channel samples up to 32.12% Cg over 7m

October 1st, 2019, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”) is pleased to announce that it has received assay results for samples from a recently completed sampling and Beep Mat prospecting program (refer NR of 11th September, 2019). The program targeted dispersed locations over shallow conductive and surface outcrop features at seven selected Zones of the Company’s Lac Guéret Extensions Property (“the Property”), located around its Lac Guéret South Graphite Project in Quebec, where a resource calculation was recently filed (see NR of 19th August, 2019). Results justify high-priority further work at five of the seven targeted showings.

The assay results represent samples from sixty four (64) one-meter channel samples collected from seven sawn channels at Zone 6, and 55 grab samples collected at Zones 1, 3, 4, 5, 6, 7 and 9. Although multiple grabs and blocks of interest are found in the different zones, Zone 6 showed the most potential as multiple channels sampled from the same area show high grade mineralization. Grab samples are selective in nature and are not representative of the mineralization hosted on the Property. Notable results are listed in Table 1.

Table 1: Best results from the completed work program.

ZoneResult Summary (% Cg, graphitic carbon)
 Grab and Float SamplesChannel Samples
128.80N/A
35.78N/A
44.03N/A
520.02N/A
655.80; 38.30 and 30.3032.12 over 7m, including 39.95 over 5m;
32.83 over 5m;
32.02 over 5m
70.39N/A
927.80N/A

Mr Thomas Yingling, CEO, stated: “We are elated at the results returned by the initial grab and channel sampling from Zone 6: these data justify a trench and drill program at Zone 6, which is now a very strong candidate for inclusion in our hub and spoke graphite production model. Results from four other Zones also motivate for mechanical trenching, and the Zone 1 result confirms our thesis that there remains substantial potential along strike upside at the Zone 1 resource location of at least 500m.”

Berkwood’s Lac Guéret Extensions target Zones (see figure 1) were previously identified from historic records of surface graphite exposures, samples taken by prior workers, and near surface conductor data collected using Beep Mat (refer NR of 24th July, 2019). Based upon the recently completed pit-constrained mineral resource at its Lac Guéret South Project (refer NR of August 19th, 2019), the Company has determined that a long-term graphite exploration strategy is best served by evaluating multiple proximally located graphite showings to include them in a future resource calculation and economic study.

Figure 1. Target Zones on the Lac Guéret Extensions Property

The recent exploration program accessed the first round of targets using existing roads and forest trails. The work was led by Quebec based teams. Channel sampling and prospecting work were supervised by David Fafard P.Geo OGQ1814 and Steven Lauzier, P.Geo OGQ1430.

The Zone 1 outcrop sample was collected 500m NE of the Zone 1 drilling location, coincident with an area recommended for further work following the 2018 Mise à la Masse survey (refer NRs of 24th October, 2018, and 14th December, 2018). The graphitic outcrop indicates good potential to further extend the mineralization of the Zone 1 graphite body toward NE.

The Zone 3 sampling targeted an historic conductor suggestive of a broadly folded graphitic unit, and historic drilling that reported 22m @ 20.1% Cg from 4.4m depth downhole. The 2019 campaign confirmed graphite in the area and the Zone remains a mechanical trenching target for the Company.

The Zone 4 sampling was unsuccessful in locating the prime target under surficial cover, though a mineralized float sample was found and assayed.

The Zone 5 prospecting effort located historically reported outcrop, where Cg above 20% was reported. Further outcrop was not located and the zone is targeted for mechanical trenching. The Company was successful in duplicating the historical result in a grab sample that assayed 20.02% Cg.

The Zone 6 was generated from a distinct airborne electromagnetic conductor that appears to extend for over three kilometers, and appears folded at its southernmost extent (as seen in figure 2). Sampling has focussed on the southern end of the feature (6 channels sampled) and an area near the northern extent of the anomaly (2 channels sampled). The two locations are accessible and have shallow cover which will ease future stripping of outcrops.

The channel results on Zone 6 comprise 64 samples collected from saw-cut channel taken approximately perpendicular to the strike of the local schistosity and cleared surfaces located by Beep Mat. The samples comprise the results for eight (8) cut channels, with each sample comprising a 1m interval along each channel. Channels range from 2m to 22m in length. The Cg results range from 0.025% to 42.7% Cg and are shown in Figure 2. Table 2 reflects the best intersection for each channel. A channel sample (BKZ6-19- CH5) was cut at the hinge zone and following further inspection was found to be at a low angle to the graphite layering in the paragneiss. The Company considers this channel as a succession of grab samples taken along the strike of the mineralization which assayed up to 24.7% Cg. The best grab sample at Zone 6 assayed 55.80% Cg. Additional mechanical trenching and drilling at Zone 6 is supported by the results obtained from this 2019 summer program. Figures 2 and 3 illustrate the channel locations and the channel results.

Table 2: Channel Sample Summary Table.

ChannelLength
(m)
Lowest Value
(% Cg)
Highest Value
(% Cg)
Best Intersection (% Cg)
BKZ6-19-CH0176.142.732.12% over 7m
BKZ6-19-CH0256.036.732.83% over 5m
BKZ6-19-CH03220.039.632.02 % over 5m
BKZ6-19-CH0450.013.011.8 % over 3m
BKZ6-19-CH05150.824.7Parallel to strike
BKZ6-19-CH0660.116.311.01 % over 3m
BKZ6-19-CH0726.56.86.69 % over 2 m
BKZ6-19-CH0840.32.91.61 % over 4m
Total66   

Figure 2. Channel Locations at Zone 6

Figure 3. Graphite Content (% Cg) of the Zone 6 Channel Samples

At Zone 7 only a float sample was recovered with poor graphite content, although an historic ‘paragneiss with graphite’ is reported. Zone 7 is not slated for further near-term exploration.

Zone 9 prospecting verified the existence of historic trenching and additional graphitic outcrop was cleared following Beep Mat detection of shallow conductors. Historic trench samples returned in excess of 25% Cg, a result confirmed by the Company with a sample up to 27.8% Cg. The Zone 9 anomaly is scheduled for high priority mechanical trenching.

QA/QC: All samples were submitted to Activation Laboratories of Ancaster, Ontario, a certified laboratory. Following reception, the samples were prepared using crushing and sieving, and were then analysed using method 4F-C-Graphitic (multistage furnace treatment and infrared absorption). Two blank assays were inserted by Activation Laboratories while the Company also included 4 channel sample duplicates.

Qualified Person: Steven Lauzier, P.Geo. OGQ1430 is the Qualified Person as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content of this news release.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd. ‘Thomas Yingling’ President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
info@berkwoodresources.com or 1-778-945-2935 www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood Surface Sampling at Lac Guéret Graphite Extensions Project completed, field crews demobilize

September 11th, 2019, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”) is pleased to announce that it has de-mobilized field crews from its Lac Guéret extension projects, located adjacent to its Lac Guéret South Graphite Project in Quebec, following the collection of surface graphite exposure samples and near surface conductor distribution data by Beep Mat (refer NR of 24th July, 2019). Based upon the recent News Release regarding the Company’s robust pit-constrained mineral resource at its Lac Guéret South Project (NR of July 19th, 2019), the Company has determined that a long-term graphite production strategy is further served by evaluating multiple proximally located podiform graphite deposits (comparable to its centrally located Zone 1 project) to feed a future, centrally located processing facility. The model is amenable to graphite production from multiple shallow, low strip ratio open pit mining locations surrounding the Company’s existing project.

To advance the current project model the Company has, in the context of resource learning acquired from the evaluation of its drilled Zone 1 occurrence, further assessed the historic sampling of known graphite exposure on ground explored by previous workers. The review isolated a number of high priority targets, some of which have returned high grade samples during work by previous entities, and which have been acquired by Berkwood (refer NRs of August 7th and 22nd, 2019) for exploration and immediate evaluation of known occurrences.

The rapid geophysics and sampling campaign recovered seventy-nine (79) grab samples and sixty-six (66) sawn-channel samples containing visually identified graphite from seven zones of graphitic mineralization, with focus upon Zones 6 and 9. All samples have been submitted to Activation Laboratories of Ancaster, Ontario, for graphitic carbon assay. The sampling was supported by the detection of conductive shallow sub-crop by Beep Mat.

The program accessed the first round of targets using existing roads and forest trails, and the work was led by Quebec based teams: channel sampling was supervised by Steven Lauzier P.Geo of Acton Vale, QC. The Company anticipates being able to release results detail in approximately four weeks.

Lac Guéret South Property, Quebec

Lac Guéret South is located in Cote Nord, Quebec, a three-hour drive from Baie-Comeau in an area of very good infrastructure. The Project directly borders Mason Graphite’s (TSX-LLG) advanced Lac Guéret Project to the South. Mason owns one of the largest high-grade graphite deposits in the world, and is planning on building a new graphite mine and processing plant.

Lac Guéret South’s Zone 1

The Project arises from two distinct electromagnetic conductors that occur over a two kilometer length and up to 600 meters in width as defined by airborne EM geophysics (see the Berkwood news release dated February 10, 2015). The western part of this zone was further defined by ground VLF and EM surveys: four VLF and 22 contiguous PhiSpy EM conductors have been detected over an apparent 800 meters length and up to a 300 meters width. This western area was interpreted as a potential bulk graphite zone interlayered within the hinge of a complex fold system. Based upon the geophysics, drilling confirmed the presence of high interest graphite. Since discovery four separate drill programs have been executed on the western extent of Berkwood’s Zone 1 Graphite Body for a total of 45 diamond drillholes and 6,232.49 metres (and 77 metres of trenches with 1,194 samples and 28 samples from trenches) completed. This work lead to the recent completion and filing of a pit-constrained resource comprising 1.76 million tonnes of 17% Cg (Carbon as graphite) as an indicated resource and 1.53 million tonnes of inferred resource at 16.4% Cg (refer NR of June 19th, 2019).

About the Company:  Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations: 
info@berkwoodresources.com  or 1-778-945-2935   www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Stock Option Press Release

Vancouver, September 4, 2019 — Berkwood Resources Ltd. (TSX-V: BKR, Frankfurt: BR2N, WKN: A3DNV4) is pleased to announce that it has granted stock option agreements to its directors, officers and consultants for the right to purchase up to 930,000 common shares of the Company, exercisable at the price of $0.05 per share for five years, subject to regulatory approval. 

The option agreements to be issued will be granted in accordance with the Company’s Stock Option Plan and if necessary, will be subject to the TSX-V four (4) month hold period.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors

Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740
www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

View News in PDF Format

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Berkwood Reports Excellent Results from Purification (99.95%) and Expandable Graphite Tests

Figure 1: Close up view of Berkwood’s Expanded Graphite (“graphite worms”)

Vancouver, August 27th 2019 — Berkwood Resources Ltd. (TSX-V: BKR; Frankfurt:BR2N – WKN: A2DNV4) (“Berkwood” or the “company”) is pleased to announce excellent results from recently completed testwork conducted by ProGraphite GmbH (“ProGraphite”) in Germany. Berkwood has commissioned ProGraphite to test the company’s high-grade flake graphite concentrate from the Lac Guéret South deposit in Northern Quebec, Canada for the production of purified and expandable graphite.

The company ProGraphite GmbH offers professional expertise and a wide range of laboratory services in natural graphite. ProGraphite’s laboratory expertise is well recognized in the industry for the determination of flake graphite qualities specific to various end uses. For more information about ProGraphite, please visit: www.pro-graphite.com

The main findings of ProGraphite are:

  • The size distribution of the flake graphite in the concentrate shows a coarse flake size, above market standard (based on the two screened samples “Berkwood 20×50” and “Berkwood 50×100”).
  • Graphitic carbon grade of the tested graphite samples is above 98% Cgr.
  • The tested material is very suitable for the production of expandable graphite. Expansion rates of 380 ml/g (H2O2 method) and 390 ml/g (KMnO4 method) have been achieved easily.
  • The carbon content obtained after a standard alkaline purification process was 99.95%.

Tom Yingling, President and CEO states: “We are very pleased with these excellent testwork results from ProGraphite. This report is one of the final pieces of the puzzle that was crucial for Berkwood. The Company knew we have high-grade graphite and large flakes. From the recently announced NI 43-101 resource estimation report, we knew that Berkwood has a substantial amount of it and it is right on surface. One of the last pieces of the puzzle we needed to know was if the graphite is able to be expanded, and, can it be done so very easily using standard methods. Today I am pleased to announce that Berkwood’s graphite is expandable. Another significant result is the fact that our graphite concentrate can be easily purified to 99.95%. For Berkwood, this opens up the opportunity to sell our graphite flakes into a wide range of standard and value-added graphite markets.”

Based on these encouraging results, ProGraphite draws the following conclusion and recommends further tests: “The results of the production of expandable graphite using both, KMnO4 or H2O2 as oxidation reagent, showed excellent results with expansion rates well above 350 ml/g. The testwork was done using standard formulations. It is probable, that changes of process parameters (like amount of acids, change of retention time etc.) and perhaps the usage of additional chemicals will lead to even higher expansion rates. ProGraphite recommends to perform further tests for verification. Alkaline purification of the graphite showed excellent results as well. The carbon content obtained after a standard alkaline purification process was 99.95%, which is a very good result.”

Figure 2: Intercalation process and expansion of natural flake graphite

What is Expandable Graphite?
Due to the layered structure of highly crystalline natural flake graphite, it is possible to insert molecules between the carbon layers. During this process which is named intercalation, the expanded graphite material takes on new properties. Intercalated graphite flakes with outstanding expansion rates have a high amount of intercalated layers. Most commonly, sulphuric or nitric acid are used as intercalation agents. Under the influence of high temperatures and within several hours, the carbon layers separate and small, several millimetres large “graphite worms” show up. The result is a significant increase in the volume of the graphite of up to 375 times, an overall decrease in bulk density and an approximately a 10-fold increase in surface area.

Uses of Expandable Graphite
The worldwide market for expandable graphite is one of the fastest growing markets along with Li-Ion batteries. Over the last couple of years the market has experienced significant price increases. Expandable graphite can be used in many applications including:

Flame retardant
Thermal management in consumer electronics
High end gaskets that are heat and corrosion resistant
Flow batteries and fuel cells
Electrically conductive fillers
Coatings
Automotive Industry
Aerospace
Energy Storage
Wind Energy
Compound Semiconductors
Other products

About Berkwood Resources Ltd.: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740
www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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TSX approves new claims

August 22, 2019 – Berkwood Resources Ltd. (TSX-V: BKR; FSE: BR2N) is pleased to announce TSX-V approval has been granted to the Company acquiring six (6) selected groups of claims consisting of 58 claims covering 3,116 Ha adjacent to its Lac Guéret South project. The Company now holds a 100% interest in the property. These six groups of claims occur either directly adjacent to or within a few kilometers of Berkwood’s existing claims, and each has either known graphite showings or geological extensions of known graphite bearing formations over which geophysical conductive anomalies have been surveyed.

Consideration for the acquisition of the new claims comprised the payment to the Vendors of $11,500 and the issuance of 1,950,000 common shares.

Lac Guéret South Property, Quebec

Lac Guéret South is located in Cote Nord, Quebec, a three hour drive from Baie-Comeau in an area of very good infrastructure. The Project directly borders Mason Graphite’s (TSX-LLG) advanced Lac Guéret Project to the South. With a market capitalisation of over $40 million Mason owns one of the largest high grade graphite deposits in the world and is planning on building a new graphite mine and processing plant.

Lac Guéret South’s Zone 1

Two distinct electromagnetic conductors appear to occur over a two kilometer length and 50 meters to 600 meters in width as defined by airborne EM geophysics (see the Berkwood news release dated February 10, 2015). The western part of this zone was further defined by ground VLF and EM surveys: four VLF and 22 contiguous PhiSpy EM conductors have been detected over an apparent 800 meters length and up to a 300 meters width. This western area is now recognised to comprise a significant graphite zone interlayered within the hinge of a complex fold. The apparent fold limbs thin to some 50 meters in width further to the east.

Four separate drill programs have been executed on the western extent of Berkwood’s Zone 1 Graphite Body for a total of 45 holes and 6,091.7 m completed between August 2017 and December 2018. One hole of 6.1 m was incorrectly collared and did not intersect graphite. The Company intersected visual Graphite in every other hole drilled (44), with significant Cgr (Carbon as graphite) intercepts being observed in 41 holes. These programs have provided the data and assays for completion and announcement of an in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr (refer NR of June 16th, 2019).

Financing

The Company also announces it has closed a private placement as to the issuance of 600,000 common share at $0.05. The use of proceeds will be for working capital. No finder’s fee was paid. The shares will be issued having a four month plus one day hold period.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

Signed: “Thomas Yingling”

Thomas Yingling,
President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740
www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood files robust pit constrained mineral resources at its Lac Guéret South Project on SEDAR

Vancouver,  August 19th, 2019 –Berkwood Resources Ltd. (TSX-V: BKR) is pleased to announce the filing of a pit-constrained Mineral Resource Estimate technical report regarding its Lac Guéret South Project.  The final edits and assembly of the report show no material differences between the earlier news release and the final, full version of the report filed on SEDAR. 

The maiden Mineral Resource Estimate for Lac Guéret South, Zone 1, is summarized in Table 1 (with annotation). The Mineral Resource Estimate is based on drilling campaigns in 2017 and 2018 totalling 6,232.49 meters.

Table 1:  Base Case Pit-Constrained Mineral Resource Estimate at the Lac Guéret South Project1

Mineral Resource Category

Current Resource (June 2019)8

Tonnage (Mt)5,7

Grade (% Cgr)4

Cgr (t)6

Indicated

1.76

17.00

299,200

Inferred3

1.53

16.4

250,200

Notes:

  1. The mineral resources provided in this table were estimated using current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definition and Guidelines.
  2. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred and Indicated Mineral Resources to Indicated and Measured Mineral Resources.
  3. Inferred Mineral Resources represent material that is considered too speculative to be included in economic evaluations. Additional trenching and/or drilling will be required to convert Inferred Mineral Resource to Indicated or Measured Mineral Resources/Reserves.
  4. All assays used for the Resource Estimates were performed by MS Analytical in Langley, BC with verification samples analysed at ALS-Laboratory at Burnaby, BC for graphitic carbon (“% Cg”), internal analytical code SPM-140 and GE_CSA05V respectively.
  5. Current Resource effective June 30, 2019.
  6. No recovery was applied in the calculation of tonnage of graphitic carbon (90% recovery was applied in pit optimization to define pit constrained mineral resources).
  7. The Current Mineral Resources are stated at a cut-off grade of 6.81% Cgr.

Tom Yingling President and CEO states: “Berkwood has reached a significant milestone at our Lac Guéret South project with the definition of a significant pit constrained mineral resource.  With this new data Berkwood has started the process of the permitting in order to permit forest logging in the area of a potential pit and to allow for stripping and bulk sampling at surface. This resource presents sufficient size and grade for the Company to move forward with immediate next step plans, as this maiden resource compares favourably with other developed and in-development projects. We are confident Lac Guéret South will figure into the emerging Lac Guéret graphite production camp in the near future. Our exploration and metallurgical work has received an enthusiastic reception among long-run graphite buyers and financiers, and we have embarked upon a program of resource expansion in the local area. We will immediately refine our current resource and increase our knowledge on the quality and size of the deposit and adjacent deposits which we expect will further add to our resource base.”

Edward Lyons, PGeo (BC,QC,NL) states: “The results of the initial resource estimate and metallurgical testwork demonstrate that the Zone 1 deposit as tested to date has substantial resources and robust recoveries, subject to further testing. The deposit has not been closed off in the lateral extents and the several geophysical surveys suggest that the shallower mineralisation continues around the western fold hinge. The strike length has the potential to significantly increase resources with future development drilling. The Zone 2 target now in an early exploration stage, may add mineralisation as well.”

Table 2:  Current Resource Pit Envelope Characteristics

Characteristics

Main

Layer 01

Length (m)1

290

340

Azimuth (⁰)

80

42

Maximum width (m)

130

35

Surface Area (km2)

0.13

  1. Measured length is approximate.

Data Sources and Current Resource Estimation Methods

The block model used to generate this Resource is based on a total of 45 diamond drillholes and two trenches for a total of 6,232.49 metres and 77 metres of trenches with 1194 samples and 28 samples collected from trenches.

The present Resource block model was prepared under supervision of Claude Duplessis, P.Eng. of GoldMinds Geoservices Inc. of Québec City, QC using Genesis© mining software. The block model estimate was performed using interpolation according to the inverse of the distance from nearest composites and the ellipsoid influenced distance in calculation which were adapted for the geology of the deposit by application of  the variable direction search ellipsoid special tool in Genesis software for folded deposits.

The block size has been defined in order to respect the complex geometry of the envelopes. The mineral resource estimate was carried out with a block size of twenty-seven cubic meters (3m (EW) x 3m (NS) x 3m (Z)). The density to convert volume to tonnage used is 2.9.

The envelopes have been filled by regular blocks and only sample composites within the envelopes were used to estimate the block grades. This represents a total of 3,015 sample composites.

The average percentage carbon (% Cgr) was calculated using interpolation according to the inverse of the distance from nearest composites and the ellipsoid influenced distance in calculation. Interpolation parameters were based on drill spacing, envelope extension and orientation.

Different numbers of runs and ellipsoid dimensions were used depending on the envelope. Two runs were used in envelope “Main” and only one run was used in each remaining envelopes (Layer 01, Layer A and Layer B), for the mineral Resource Estimate (see ellipsoids parameters in Table 3).

Specifically, run parameters were as follows: Main envelope: In run one (1), the number of composites is limited to nine (9) with a minimum of three (3) per block and a maximum of two (2) composites from the same drillhole. For run two (2), the number of composites was limited to nine (9) with a minimum of three (3) and no limit number composites per drillhole. For Layer 01, Layer A and Layer B: One run was executed with the number of composites limited to nine (9) with a minimum of three (3) per block and a maximum of two (2) composites from the same drillhole.

Table 3:  Variable Search Ellipsoid Parameters

Ellipsoids Parameters

Main Pass01

Main Pass02

Layer01

Layer A

Layer B

Azimuth

80

80

50

50

50

Dip

0

0

0

0

0

Spin

5

5

35

35

35

Major

30

40

30

10

15

Median

40

60

40

15

15

Minor

10

15

10

5

5

Within the folded or faulted nose of the Main envelope, a variable ellipsoid was used in the estimate, as Genesis software (chosen specifically for its features) has the capacity to search along complex planes.

The classical method of distance and composites within the search ellipsoid was selected to classify the deposit where one defined class is used by ellipsoid. A total of two ellipsoids and two runs were applied. Two runs were performed for the Main envelope (indicated and inferred) and one run was done for each envelope Layer 01, Layer A and Layer B (inferred).

The block model was afterward processed in MineSight software to provide an optimized pit envelope constraining the mineral resources (see Table 4 below). The technical and economic parameters used to generate the pit shell envelopes are listed in the Table 5 below. The base case is in bold.

The resource shell parameters were derived from comparable graphite projects in the region and preliminary metallurgical testing done at Met-Solve Laboratories of Langley, British Colombia in Item 13 of the filed NI 43-101 report presenting similar results aligned with adjacent project. Duplessis elected to apply a conservative recovery of 90% as additional metallurgical testing is required to better define the flake class and so to constrain the price point values of the eventual saleable products.

Table 4  Pit optimization Results (rounded)

Optimised Pit.

Mineral Resource

Waste(*)

Stripping Ratio

Indicated

Inferred

Tonnes

Cg (%)

Tonnes

Cg (%)

Tonnes

 

Pit 01

998 600

21.50

424,300

23.01

5,520,800

3.87

Pit 02

1,161,300

20.21

730,800

20.96

8,371,100

4.42

Pit 03

1,349,900

19.02

908,900

19.42

9,921,600

4.39

Pit 04

1,474,900

18.19

1,042,400

18.46

10.730,700

4.26

Pit 05

1 648 800

17,35

1,349,400

17.05

14,229,900

4.74

Pit 06 (base Case)

1,755,300

17.00

1,526,400

16.39

16,774,000

5.11

Pit 07

1,816,800

16.73

1,793,800

15.49

19,592,000

5.42

(*) “waste” here is not waste but is considered to be material which is not economic at the time of this pit optimization.

Table 5: Current Resource Shell Envelope Generation Parameters Base Case ($CDN)

Parameters

Values

Mining Cost

6 $/t

Transport

36 $/t

Processing

40 $/t

G & A

10 $/t

Recovery

90 %

Selling Price Cg

1,530 $/t

Quality assurance and control were maintained through the systematic use of blank samples (non-graphitic) inserted into the sample sequence every 20th sample as well as duplicate quarter-cut drill core samples. The blank samples consistently returned only trace Cg values. The duplicate sample results closely repeated the comparison sample analyses on the half-core, though there is typically some variation in grade owing to the lower material volume in quarter-cut core vs. half-core, in addition to the local variations in Cg at decimeter scale. Fifty (50) samples selected by Lyons were taken from the original rejects at MS Analytical and one-kilogram riffle-split coarse reject material was delivered to ALS Laboratory for analyses that closely followed the original methods used by MS Analytical. These had a close correlation, and the authors of the report are confident that the original assays are representative of the samples assayed.

The database was reviewed by Lyons and GoldMinds. Several errors were discovered and resolved, and the final database included the corrections.

The technical data included in this release was prepared by qualified independent experts, as defined by NI 43-101 Regulation, including Claude Duplessis Eng., of GoldMinds Geoservices Inc. (resource estimation), Edward Lyons PGeo (BC, QC,NL) of Tekhne Research Inc. (senior author and most of the report), and Florent Baril, Eng. of Bumigème Inc. (mineral processing and metallurgical testing).

Berkwood Resource Ltd has finalising the independently prepared Mineral Resource Estimate technical report, in accordance with the National Instrument (NI) 43-101, detailing this important work, and the report is now filed on SEDAR at www.sedar.com .

Edward Lyons PGeo (BC, QC, NL) is the Qualified Person under the definition of Canadian National Instrument 43-101 for Berkwood Resources and has approved the technical information in this news release. Ed has worked extensively on the Lac Gueret Property, now owned by Mason Graphite, and on neighbouring graphite properties since 2000.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740
 www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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NI 43-101 Resource

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Berkwood to present at the International Graphite 2019 Conference in Berlin CLARIFICATION of News Release Dated August 16th, 2019

August 19th, 2019 Berkwood Resources Ltd. (TSX-V: BKR; FSE: BR2N) would like to clarify the meaning of “estimated market value” stated in the news release dated August 16th, 2019.

The underlying assumption of US$1500 per tonne used in the mineral resource estimate reflects a value to establish reasonable prospects of eventual economic extraction and does not reflect current market value of the mineralization.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 200 years’ experience and whose members have been involved with the discovery of several producing mines.

Edward Lyons PGeo (BC, QC, NL) is a Qualified Person under the definition of Canadian National Instrument 43-101 and has approved the technical information in this news release.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740
www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood to present at the International Graphite 2019 Conference in Berlin

August 16th, 2019 Berkwood Resources Ltd. (TSX-V: BKR; FSE: BR2N) is pleased to announce that it will be attending the International Graphite 2019 Conference in Berlin September 10 – 11, 2019. This is a very significant, and highly attended conference as it connects producers with purchasers and consumers from across the natural and synthetic graphite markets. Its attendees are some of the world’s largest buyers, consumers and traders of Graphite. In addition, Berkwood’s management will hold a speech to the attendees from all over the world to showcase the Company’s recently announced 43-101 resource estimate for the Lac Gueret graphite deposit in Northern Quebec, Canada.

Berkwood is pleased to announce at the conference that, to date, we have 549,200 tonnes of contained Graphite, as to Indicated 299,200 tonnes and Inferred 250,000 tonnes with an estimated market value of U.S. $1,500 per tonne as used in the NI 43-101 mineral resource estimate. The Company has only explored about 20 percent of the Zone 1 anomaly and has recently added numerous additional historical high-grade graphite outcrops to add to its land package which are currently being resampled.

Please follow the link below for more details on the conference:

https://www.metalbulletin.com/events/graphite-conference/sponsors.html

Berkwood has a high-grade graphite NI 43-101 resource located in Quebec, Canada and is now looking for a joint venture partner and/or offtake agreement(s).  The company has made this significant graphite discovery right next door to Mason Graphite’s mine which is currently being built. Berkwood Resources was successful in hiring members of the technical team that were responsible for developing Mason’s project and so far the team is repeating this success on Berkwood’s lands. The company is led by a team with collectively over 200 years of experience and whose members have been involved with the discovery, development, construction and operation of several producing mines. Berkwood’s management plans on partnering up with a key partner(s) to do it again.

The Company is undertaking a non-brokered financing of up to $100,000 with shares to be issued at $0.05. The financing is subject to TSXV approval. Proceeds of the Placement will be used for general working capital. Finder’s fees may be payable subject to exchange approval.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 200 years’ experience and whose members have been involved with the discovery of several producing mines.

Edward Lyons PGeo (BC, QC, NL) is a Qualified Person under the definition of Canadian National Instrument 43-101 and has approved the technical information in this news release. Ed has worked extensively on the Lac Guéret Property, now owned by Mason, and neighbouring graphite properties since 2000.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
info@berkwoodresources.com or 1-604-343-7740 www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood acquires additional surface graphite properties.

Video Link: https://youtu.be/8wd0upCady8

August 7th, 2019, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”) is pleased to announce that it has acquired additional ground adjacent to its Lac Guéret South project as it has determined that a long-term graphite production strategy is best served by evaluating multiple proximally located bedded graphite deposits (comparable to its centrally located Zone 1 project) to feed a future, centrally located processing facility. The model is amenable to graphite production from multiple shallow, low strip ratio open pit mining locations surrounding the Company’s existing project.

To advance the current project model the Company has acquired six new blocks of claims and has further assessed the historic sampling of known graphite exposure on ground currently held. The review isolated a number of high priority targets, some of which have returned high grade samples during previous work by the SOQUEM – QUINTO joint venture, Esbec, Mason Graphite, and Focus Graphite. Concurrent with the acquisition, an ongoing field sampling campaign will immediately sample selected areas of the newly acquired tenement.

The newly acquired land title comprises six (6) selected groups of claims consisting of 58 claims covering 3,116Ha. Berkwood holds a 100% interest in the properties, following their acquisition from 1215616 BC Ltd., a Company held by Contigo Resources Ltd (“Contigo”) and Graeme Sewell (“Sewell”, together, “the Vendors”). These six groups of claims occur either directly adjacent to or within a few kilometers of Berkwood’s existing claims, and each has either known graphite showings or geological extensions of known graphite bearing formations over which geophysical conductive anomalies have been surveyed.

Consideration for the acquisition of the new claims comprises the payment to the Vendors of $20 and 1,950,000 common shares of Berkwood, wherein $10 and 450,000 shares are paid to Contigo and $10 and 1,500,000 shares are paid to Sewell.

The ongoing sampling and shallow geophysics program will focus on high priority targets on the newly acquired claim blocks with immediate effect. Among the targets is Zone 06, where previously reported surface samples of high grade graphite (maximum of 41.1% Cgr in a single sample) were recorded by previous workers. The target zone locations being prospected are ranked on the strength of airborne geophysical anomalies (2003 regional GeoTEM time domain EM survey and 2012 airborne magnetics flown by government), proximity to the core Zone 1 project, and ease of access to each location.

The current program accesses the projects using existing roads and forest trails, and excludes further access development as part of the present program.

Lac Guéret South Property, Quebec

Lac Guéret South is located in Cote Nord, Quebec, a three hour drive from Baie-Comeau in an area of very good infrastructure. The Project directly borders Mason Graphite’s (TSX-LLG) advanced Lac Guéret Project to the South. With a market capitalisation of over $40 million Mason owns one of the largest high grade graphite deposits in the world and is planning on building a new graphite mine and processing plant.

Lac Guéret South’s Zone 1

Two distinct electromagnetic conductors appear to occur over a two kilometer length and 50 meters to 600 meters in width as defined by airborne EM geophysics (see the Berkwood news release dated February 10, 2015). The western part of this zone was further defined by ground VLF and EM surveys: four VLF and 22 contiguous PhiSpy EM conductors have been detected over an apparent 800 meters length and up to a 300 meters width. This western area is now recognised to comprise a significant graphite zone interlayered within the hinge of a complex fold. The apparent fold limbs thin to some 50 meters in width further to the east.

Four separate drill programs have been executed on the western extent of Berkwood’s Zone 1 Graphite Body for a total of 45 holes and 6,091.7 m completed between August 2017 and December 2018. One hole of 6.1 m was incorrectly collared and did not intersect graphite. The Company intersected visual Graphite in every other hole drilled (44), with significant Cgr (Carbon as graphite) intercepts being observed in 41 holes. These programs have provided the data and assays for completion and announcement of an in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr (refer NR of June 16th, 2019).

Tom Yingling, President and CEO states, Berkwood is in the process of demonstrating a viable conceptual hub resource location at its Zone 1, Lac Guéret South prospect location. The coarse nature of the naturally occurring graphite, and the compelling reported resource, has stimulated our determination to rapidly locate and evaluate certain nearby zones of Zone 1 lookalike graphite occurrences. By acquiring property which hosts additional known surface-exposed graphite proximal to our existing ground, we substantially increase the number of prospects that could support our hub-and-spoke mining feed model, which envisions an integrated graphite production scenario that depends upon shallow production from multiple podiform deposits. The model offers maximum optionality in production scheduling and extended resource life to build upon our recently reported Zone 1 resource.

Edward Lyons PGeo (BC, QC, NL) is a Qualified Person under the definition of Canadian National Instrument 43-101, and has approved the technical information in this news release. Ed has worked extensively on the Lac Guéret Property, now owned by Mason, and neighbouring graphite properties since 2000.

About the Company:  Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors

Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740     www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood Announces Annual General Meeting Results

July 25, 2019, VANCOUVER, B.C. – Berkwood Resources Ltd. (“Berkwood” or the “Company”) is pleased to announce that on July 25, 2019 it held its annual general meeting of shareholders (the “Meeting”). A total of 7,116,042 common shares (approximately 12.45% of the outstanding common shares) were represented at the Meeting in person or proxy.

1.   Election of Directors

Each of the following individuals were elected as directors of the Company as approved by a vote by ballot, for a term expiring at the conclusion of the next annual meeting of shareholders of the Company or until their successors are elected or appointed, as follows:

Name Votes “For”
(%)
Votes “Against”
(%)
Votes “Withheld/Abstained”
(%)
Thomas Yingling 91.87 0 8.13
Binny Jassal 91.87 0 8.13
Charn Deol 96.96 0 3.04
Ian Graham 86.81 0 13.19

2.   Appointment of Auditor

The appointment of Smythe LLP, Chartered Professional Accountants, as the auditor of the Company, to hold office until the next annual meeting of shareholders of the Company, and the authorization of the directors of the Company to fix the auditor’s remuneration, was approved by a resolution passed by a vote by ballot, with 6,241,542 (100%) total votes cast “FOR” and 0 “WITHHELD/ABSTAIN”.

3.   Stock Option Plan

The Stock Option Incentive Plan resolution was approved by a resolution passed by a vote by ballot, with 5,704,542 (91.40%) total votes cast “FOR” and 536,500 (8.60%) total votes cast “Against”.

Immediately following the annual meeting, the directors convened and the following were appointed offices for the ensuing year:

Thomas Yingling – President and CEO
Binny Jassal – Chief Financial Officer

On Behalf of the Board of Directors

Berkwood Resources Ltd.

Signed: “Thomas Yingling”

Thomas Yingling,
President, CEO & Director

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

Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

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Berkwood Mobilizes a Surface Sampling program at its Lac Gueret Graphite Project mineralised extensions

July 24th, 2019, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A2DNV4) (“Berkwood” or the “Company”) is pleased to announce that it has mobilized field crews to its Lac Gueret extension projects, located adjacent to its Lac Gueret South Graphite Project in Quebec, for the immediate collection of surface graphite exposure samples, and for the collection of near surface conductor distribution data by beep-mat. Based upon the recent News Release regarding the Company’s robust pit-constrained mineral resource at its Lac Gueret South Project (NR of July 16th, 2019), the Company has determined that a potential long-term graphite production strategy is further served by evaluating multiple proximally located podiform graphite deposits (comparable to its centrally located Zone 1 project) to feed a future, centrally located conceptual processing facility. The model is amenable to graphite production from multiple shallow, low strip ratio open pit mining locations surrounding the Company’s existing project.

To advance the current project model the Company has, in the context of resource learning acquired from the evaluation of its drilled Zone 1 occurrence, further assessed the historic sampling of known graphite exposure in the area. The review has isolated a number of high priority targets, some of which have returned high grade samples during work by previous entities. The presently planned geophysics and sampling campaign will target at least five identified areas (including the eastern extension of Zone 1), including three (3) high priority locations where previous workers have previously reported multiple high grade samples at surface. The five target zones will be prospected, sampled and surveyed on the strength of:

  1. historic sampling exercises;
  2. airborne geophysical anomalies (2003 regional GeoTEM time domain EM data, locally a 2014 TDEM survey flown by the Company, 2012 airborne magnetics flown by government entities, and 2015 EM data filed for assessment credit, respectively) and
  3. ease of access and proximity to the core Zone 1 project.

The program as envisaged will access the targets using existing roads and forest trails and will not include further access development as part of the present program. The initiative is lead by Quebec-based field teams with channel sampling being supervised by Steven Lauzier P.Geo of Acton Vale, QC.

Lac Gueret South Property, Quebec

Lac Gueret South is located in Cote Nord, Quebec, a three hour drive from Baie-Comeau in an area of very good infrastructure. The Project directly borders Mason Graphite’s (TSX-LLG) advanced Lac Gueret Project to the South.   With a market capitalisation of over $43 million Mason owns one of the largest high grade graphite deposits in the world and is planning on building a new graphite mine and processing plant.

Lac Gueret South’s Zone 1

The Project arises from two distinct electromagnetic conductors that occur over a two kilometer length and up to 600 meters in width as defined by airborne EM geophysics (see the Berkwood news release dated February 10, 2015). The western part of this zone was further defined by ground VLF and EM surveys: four VLF and 22 contiguous PhiSpy EM conductors have been detected over an apparent 800 meters length and up to a 300 meters width. This western area was interpreted as a potential bulk graphite zone interlayered within the hinge of a complex fold system. Based upon the geophysics, drilling confirmed the presence of high interest graphite. Since discovery four separate drill programs have been executed on the western extent of Berkwood’s Zone 1 Graphite Body for a total of 45 holes and 6,006m completed. This work lead to the recent completion and announcement of a pit-constrained resource comprising 1.76 million tonnes of 17% Cg (Carbon as graphite) as an indicated resource and 1.53 million tonnes of inferred resource at 16.4% Cg (refer NR of June 16th, 2019).

Tom Yingling, President and CEO states, “Berkwood is in the process of demonstrating a viable conceptual hub resource location at its Zone 1, Lac Gueret South prospect location. The coarse nature of the naturally occurring graphite, and the compelling in situ grades, has stimulated our determination to rapidly locate and evaluate certain nearby zones of Zone 1 lookalike graphite occurrences. These occurrences are of interest as they could support our emerging hub-and-spoke mining feed model, which envisions an integrated graphite production scenario that depends upon shallow production from multiple podiform deposits. The model would offer maximum optionality in production scheduling and extended resource life. The existence of a number of nearby known high grade occurrences and some geophysical Zone 1 lookalike targets has motivated Berkwood to galvanise this rapid sampling and shallow geophysical initiative so as to expedite definition of proximal feed sources: these will compliment the potential of the Zone 1 prospect, where the recently reported resource underpins Berkwood’s near term plans for next steps.”

Edward Lyons PGeo (BC, QC, NL) is a Qualified Person under the definition of Canadian National Instrument 43-101 and has approved the technical information in this news release. Ed has worked extensively on the Lac Gueret Property, now owned by Mason, and neighbouring graphite properties since 2000.

About the Company:  Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations: 
info@berkwoodresources.com or 1-604-343-7740     www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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Berkwood obtains robust pit constrained mineral resources at its Lac Guéret South Project

Vancouver, July 16th, 2019 – Berkwood Resources Ltd. (TSX-V: BKR) is pleased to announce the results of a pit-constrained Mineral Resource Estimate regarding its Lac Guéret South Project. This maiden Mineral Resource Estimate for Lac Guéret South, Zone 1, is summarized in Table 5 (with annotation). The Mineral Resource Estimate is based on drilling campaigns in 2017 and 2018 totalling 6,232.49 meters and surface trench samples over 77 meters.

Table 1: Base Case Pit-Constrained Mineral Resource Estimate at the Lac Guéret South Project1

Mineral Resource Category Current Resource (June 2019)8
Tonnage (Mt)5,7 Grade (% Cg)4 Cg (t)6
Indicated 1.76 17.00 299,200
Inferred3 1.53 16.4 250,200

Notes:

  1. The mineral resources provided in this table were estimated using current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definition and Guidelines.
  2. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred and Indicated Mineral Resources to Indicated and Measured Mineral Resources.
  3. Inferred Mineral Resource represent material that is considered too speculative to be included in economic evaluations. Additional trenching and/or drilling will be required to convert Inferred Mineral Resource to indicated or Measured Mineral Resource.
  4. All analyses used for the Resource Estimates were performed by MS Analytical in Langley, BC with verification samples at ALS-Laboratory at Burnaby, BC and was tested for graphitic carbon (“% Cg”), internal analytical code SPM-140 and GE_CSA05V.
  5. Current Resource effective June 30, 2019.
  6. No recovery was applied in the calculation of tonnage of graphitic Carbon (90% recovery was applied in pit optimization to define pit constrain mineral resources)
  7. The Current Mineral Resource are stated at a cut-off grade of 6.81% Cg.

Tom Yingling President and CEO states: “Berkwood has reached a significant milestone at our lac Guéret South project with the definition of significant pit constrained mineral resource. With this new data Berkwood has started the process of the permitting in order to permit forest logging in the area of the resource to allow for stripping and bulk sampling at surface. This resource presents sufficient size and grade for the Company to move forward with immediate next step plans, as this maiden resource compares favourably with other developed and in-development projects. We are confident Lac Guéret South will figure into the emerging Lac Guéret graphite production camp in the near future. Our exploration and metallurgical work has received enthusiastic support of our investors and financiers, and we will immediately embark upon a program of resource expansion in the local area. We will immediately refine our current resource and increase our knowledge on the quality and size of the deposit(s) we can expect for eventual customers.”

Edward Lyons, PGeo (BC,QC,NL) states: “The results of the initial resource estimate and metallurgical testwork demonstrate that the Zone 1 deposit as tested to date has substantial resources and robust recoveries, subject to further testing. The deposit has not been closed off in the lateral extents and the several geophysical surveys suggest that the shallower mineralisation continues around the western fold hinge. The strike length has the potential to significantly increase resources with future development drilling. The Zone 2 target now in early exploration stage, may add mineralisation as well.”

Table 2: Current Resource Pit Envelope Characteristics.

Characteristics Main Layer 01
Length (m)1 290 340
Azimuth (°) 80 42
Maximum width (m) 130 35
Surface Area (km2) 0.13
  1. Measured length is approximate.

Data Sources and Current Resource Estimation Methods

The block model used to generate this Resource is based on a total of 45 diamond drillholes and two trenches for a total of 6,232.49 metres and 77 metres of trenches with 1194 core samples and 28 samples collected from trenches.

The present Resource block model was prepared under supervision of Claude Duplessis, P.Eng. of GoldMinds Geoservices Inc. of Québec City, QC using Genesis© mining software. The block model estimate was performed using interpolation according to the inverse of the distance from nearest sample composites and the ellipsoid influenced distance in calculation were adapted for the geology of the deposit using the special variable direction search ellipsoid tool available in Genesis software and designed for application to folded deposits.

The block size has been defined in order to respect the complex geometry of the envelopes of mineralization. The mineral resource estimate was carried out with a block size of twenty-seven cubic meters (3m (EW) x 3m (NS) x 3m (Z)). The density to convert volume to tonnage used is 2.9 g.cm-3.

The envelopes have been filled by regular blocks and only composites within the envelopes were used to estimate the block grades. This represents a total of 3015 composites.

The average percentage carbon (% Cgr) was calculated using interpolation according to the inverse of the distance from nearest composites and the ellipsoid Influenced distance in calculation. Interpolation parameters were based on drill spacing, envelope extension and orientation.

Different numbers of runs and ellipsoid dimensions were used depending on the envelope. Two runs were used in envelope “Main” and only one run was used in each remaining envelopes (Layer 01, Layer A and Layer B), for the mineral Resource Estimate (see ellipsoids parameters in Table 3).

Specifically, run parameters were as follows: Main envelope: In run one (1), the number of composites is limited to nine (9) with a minimum of three (3) per block and a maximum of two (2) composites from the same drillhole. For run two (2), the number of composites was limited to nine (9) with a minimum of three (3) and no limit number composites per drillhole. For Layer 01, Layer A and Layer B: One run was executed with the number of composites limited to nine (9) with a minimum of three (3) per block and a maximum of two (2) composites from the same drillhole.

Table 3: Variable Search Ellipsoid Parameters

Ellipsoids Parameters Main Pass01 Main Pass02 Layer01 Layer A Layer B
Azimuth 80 80 50 50 50
Dip 0 0 0 0 0
Spin 5 5 35 35 35
Major 30 40 30 10 15
Median 40 60 40 15 15
Minor 10 15 10 5 5

Within the folded or faulted nose of the Main envelope, a variable ellipsoid was used in the estimate, as Genesis software (chosen specifically for its features) has the capacity to search along complex planes.

The classical method of distance and composites within the search ellipsoid was selected to classify the deposit where one defined class is used by ellipsoid. A total of two ellipsoids and two runs were applied. Two runs were performed for the Main envelope (indicated and inferred) and one run was done for each envelope Layer 01, Layer A and Layer B (inferred).

The block model was afterward processed in MineSight software to provide an optimized pit envelope constraining the mineral resources (see Table 4 below). The technical and economic parameters used to generate the shell envelopes are listed in the Table 5 below. The base case is in bold.

The resource shell parameters were derived from comparable graphite projects in the region and preliminary metallurgical testing done at Met-Solve Laboratories of Langley, British Colombia in Section 13 of the upcoming NI 43-101 report presenting similar results aligned with an adjacent project. Duplessis elected to apply a conservative recovery of 90% as additional metallurgical testing is required to better define the flake class and pinpoint values of the eventual saleable products.

Table 4: Pit optimization Results (rounded)

Optimised Pit. Mineral Resource Waste(*) Stripping Ratio
Indicated Inferred
Tonnes Cg (%) Tonnes Cg (%) Tonnes
Pit 01 998 600 21.50 424,300 23.01 5,520,800 3.87
Pit 02 1,161,300 20.21 730,800 20.96 8,371,100 4.42
Pit 03 1,349,900 19.02 908,900 19.42 9,921,600 4.39
Pit 04 1,474,900 18.19 1,042,400 18.46 10.730,700 4.26
Pit 05 1 648 800 17,35 1,349,400 17.05 14,229,900 4.74
Pit 06 (base Case) 1,755,300 17.00 1,526,400 16.39 16,774,000 5.11
Pit 07 1,816,800 16.73 1,793,800 15.49 19,592,000 5.42

(*) “waste” here is not waste but is considered to be material which is not economic at the time of this pit optimization.

Table 5: Current Resource Shell Envelope Generation Parameters Base Case ($CDN)

Parameters Values
Mining Cost 6 $/t
Transport 36 $/t
Processing 40 $/t
G & A 10 $/t
Recovery 90 %
Selling Price Cg 1,530 $/t

Quality assurance and control were maintained through the systematic use of blank (non-graphitic) samples inserted into the sample sequence every 20th sample as well as duplicated quarter-cut drill core. The blank samples were consistently of very low grade. The duplicate samples were near the initial analyses on the half-core; there is typically some variation in grade owing to the reduced volume of material in quarter-cut core vs. half-core plus the local variations at decimeter scale. Fifty (50) samples selected by Lyons were taken from the original rejects at MS Analytical and one-kilogram riffle-split coarse reject was delivered to ALS Laboratory for analyses that closely followed the original methods used by MS Analytical. These had a close correlation.

The database was reviewed by Lyons and GoldMinds. Several typographic errors were discovered and resolved, and the final database included these corrections.

The technical data included in this release was prepared by qualified independent experts, as defined by NI 43-101 Regulation, including Claude Duplessis Eng., of GoldMinds Geoservices Inc. (resource estimation), Edward Lyons PGeo (BC, QC,NL) of Tekhne Research Inc. (senior author and most of the report), and Florent Baril, Eng. of Bumigème Inc. for mineral processing and metallurgical testing.

Berkwood Resource Ltd is finalising a Mineral Resource Estimate technical report, in accordance with the National Instrument (NI) 43-101, detailing this important announcement: the report will be filed on SEDAR within the next 45 days.

Edward Lyons PGeo (BC, QC, NL) is the Qualified Person under the definition of Canadian National Instrument 43-101 for Berkwood Resources and has approved the technical information in this news release. Ed has worked extensively on the Lac Gueret Property, now owned by Mason, and neighbouring graphite properties since 2000.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools.  The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

On Behalf of the Board of Directors
Berkwood Resources Ltd.

‘Thomas Yingling’

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations: 
info@berkwoodresources.com  or 1-604-343-7740  www.berkwoodresources.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

Neither 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.

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