2 Financings You Need to Know About This Week (Aug. 1-5)

1. Western Alaska Minerals Corp. (TSX-V: WAM)

• Gross Proceeds: $8.2 million
• Sector: Metals
• Units issued: 2 million
• Type: Common shares
• Price: $4.10
• Warrants: None
• Agents: Non-brokered
• Use of Proceeds: Ongoing exploration

Company breakdown:

• Junior miner focused on its Illinois Creek Mining District, containing silver, lead, and zinc
• Financing will be used to extend its 2022 exploration program through the end of the year, with 10,500 metres planned
• The exploration program includes stepout drilling of Waterpump Creek to test the extent of mineralization previously drilled in 2021 and 2022
• Shares of the company rose $1.49 in a single day in July after the company reported visual observations of core samples from Waterpump Creek, including 101.7 metres of massive sulphide mineralization

2. Blackrock Silver Corp. (TSX: BRC)

• Gross Proceeds: $5 million
• Sector: Precious metals
• Units issued: 10 million
• Type: Special units
• Price: $0.50
• Warrants: Half; $0.75; Three years
• Agents: PI Financial
• Use of Proceeds: Ongoing exploration

Company breakdown:

• Silver-focused junior with the historic Tonopah West project in Nevada
• Was on the rise until shares dropped in March, following the release of the project's maiden resource estimate, which pegged the project with 2.97 million tonnes at 446 g/t silver-equivalent ounces per tonne
• The company followed up that estimate with a 10,000-metre drill program, for which results have been trickling in, including intervals of 22.86 metres of 537.02 ppm lithium, and 0.7 metres of 702 silver-equivalent grams per tonne