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Moneta Announces Positive PEA on Golden Highway Project; Shares Down 2%

Moneta Porcupine Mines Inc. (ME.TO) today reported results from a National Instrument 43-101 Preliminary Economic Assessment on its 100% owned Golden Highway Project located east of Timmins, Ontario.

PEA Highlights:

Life of mine metal production of 3.8 million ounces gold with 92% recovery;

Pre-production capital costs of $607 million.

Processing facility throughput of 25,000 tonnes per day ("tpd");

Life of mine average cash costs of $794 per ounce gold;

Average diluted mill head grade of 1.11 g/t gold;

Average annual production of 288,000 gold ounces;

Operating strip ratio of 5.6 : 1;

12 year mine life

Shares are down 2.13% to 23 cents, on volume 73,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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