10:26 AM EDT, 06/12/2025 (MT Newswires) -- Callinex Mines ( CLLXF ) was at last look up 2.7% on Thursday after saying it received exploration permits from the Department of Natural Resources, Newfoundland and Labrador, for its 100% owned Pt. Leamington Project.

A statement noted the project encompasses the Pt. Leamington volcanogenic massive sulphide Deposit located on the island of Newfoundland, which hosts a "large gold, copper, zinc and silver rich mineral resource."

The company said that the exploration permit, valid until June 2027, allows it to conduct mineral exploration activities including ground geophysics and diamond drilling on the deposit. It added that additional exploration permits have been submitted to cover a planned 2025 surface field exploration campaign.

The company further stated that it is currently planning an exploration campaign for the project, expected to begin in the third quarter of 2025.

"Securing this permit, which is valid for two years, provides us with the flexibility to immediately commence work on expanding the Pt. Leamington Deposit and obtain samples for metallurgical testwork," said President and Chief Executive Officer, Max Porterfield. "Subject to obtaining additional permits, outside of the immediate Deposit area, we are excited to refine and test exploration targets identified along strike from the Deposit that have the potential to host a discovery of significant size."

The company's shares were last seen up 2.7% to $0.75 on the TSX Venture Exchange.

Price: 0.75, Change: +0.02, Percent Change: +2.74