BlackRock Metals Inc., Blackrock Mining Inc., BRM Metals GP Inc. and Blackrock Metals LP,

BlackRock Metals Inc., Blackrock Mining Inc., BRM Metals GP Inc. and Blackrock Metals LP, a Montreal, Québec-based group of companies whose main activity is the development and implementation of Project Volt, a multi-metallic ferroalloy project in the province of Québec, obtained protection under the CCAA on December 23. The companies are development-stage mining companies that have not yet completed construction of their facility. Consequently, the companies currently have no revenue-generating activities and the recovery of amounts recorded as assets in the companies' financial statements depends on the confirmation of the companies' interest in Project Volt’s underlying mining rights, their ability to finalize and secure construction financing, and future profitable production or proceeds from the operation of the business or the disposition thereof. The companies' bridge financing came to maturity on December 1, 2021, and $90,759M is now due and immediately payable to OMF Fund II H Ltd. (“Orion”) and Investissement Québec (“IQ”). The companies intend to seek approval of a SISP and a stalking horse agreement with Orion and IQ on the comeback hearing. Deloitte was appointed monitor. Counsel is Lavery for the companies, Norton Rose for IQ and Faskens for the monitor.

Harte Gold Corp. (TSX:HRT)

Harte Gold Corp. (TSX:HRT), a Toronto, Ontario based gold mining company whose sole business is a gold mining operation in northern Ontario, obtained protection under the CCAA on December 7. As a result of the COVID-19 pandemic, in March 30, 2020 the company temporarily suspended its mining operations for four months, negatively impacting its liquidity position as it was required to obtain additional financing to restart its operations and continue as a going concern. The company has also experienced numerous operational difficulties, resulting in a revenue shortfall of about $22 million from the company's projections for 2021. Prior to the CCAA filing, the company, with the assistance of FTI as financial advisor, conducted a strategic process that led to a wholly-owned subsidiary of Silver Lake Resources Limited being selected as DIP lender and stalking horse bidder. The company intends to conduct a SISP in the CCAA proceedings. FTI was appointed monitor. Counsel is Stikeman Elliott for the company, Goodmans for the monitor, TGF for the company's board of directors, Osler for the DIP lender, Fasken for BNP Paribas and McCarthy Tétrault for Appian Capital.

Otso Gold Corp. (TSX-V:OTSO)

Otso Gold Corp. (TSX-V:OTSO) and certain related entities obtained protection under the CCAA on December 3. The companies are engaged in mineral exploration and development, focused on acquiring and developing prime resource assets, such as gold and copper, in safe harbour jurisdictions. Their primary business pertains to the development of the Laiva Gold Project in Norther Ostrobothnia, Finland (the "Otso Gold Mine"). Otso also owns a 49% interest in a Copper Creek porphyry copper gold exploration project situated in the golden triangle in British Columbia. The companies’ largest creditor is Pandion Mine Finance, which has advanced a total principal amount of $32,600,000 USD to the companies between 2017 and 2020. As at December 7, 2021 (when the loan is due), the amount owing to Pandion inclusive of principal and interest will be $25,875,000 USD. Until November 2021, the companies were managed by Lionsbridge Capital Pty Ltd., and the majority of Otso's directors and officers were Lionsbridge nominees. As a result of various concerns relating to Lionsbridge's management, A&M was appointed to provide restructuring services to the companies on November 24. Shortly thereafter, Lionsbridge's principals resigned and purported to terminate the management agreement. The companies also discovered that, among other things, Lionsbridge's office at the Otso Gold Mine had been completely emptied and Otso's computers and files had been removed; there were unaccounted for charges on Otso's credit card; and one of the companies had sold approximately $740,000 of gold which was paid for by wire transfer, but the funds are allegedly missing from Otso's bank accounts. Based on the above, an Otso executive made contact with Finnish border control services to report possible criminal activity, and, according to the company, Finnish authorities have apprehended one of the principals and placed him into custody. Deloitte was appointed monitor. Counsel is Farris for the companies, BLG for the monitor and Cassels for Pandion.

MetalsTech Terre des Montagnes Lithium Inc. and MetalsTech Wells-Lacourciere Lithium Inc.

MetalsTech Terre des Montagnes Lithium Inc. and MetalsTech Wells-Lacourciere Lithium Inc., Montreal, Quebec-based lithium exploration companies, filed for bankruptcy on May 20, respectively owing approximately $1.9 million and $492.2 thousand to MetalsTech Limited, an Australian headquartered company that controls a developing portfolio of early stage, hard-rock exploration projects in Quebec. MetalsTech Project Generation Lithium Inc. and MetalsTech Kapiwak Lithium Inc. filed for bankruptcy on May 21, respectively owing approximately $327.5 thousand and $12.7 thousand to MetalsTech Limited. PwC is the bankruptcy trustee for each of the bankruptcy proceedings.

Coalspur Mines (Operations) Ltd.

Coalspur Mines (Operations) Ltd., a Hinton, Alberta-based coal development company which owns and operates the Vista Coal Mine Project, filed for CCAA protection on April 26, 2021. While the company’s operations have significant value, with Phase I alone having the capacity to produce roughly 6.5 million tonnes of clean coal per year, Coalspur’s ability to conduct its business and generate revenue and liquidity has been severely impacted by: (a) the shut down of the mine in February 2021 as a result of a permitting issue with the Alberta Energy Regulator ("AER"), thereby suspending all coal production and cutting off Coalspur’s only source of revenue; and (b) the simultaneous crystallization of an approximately $59.9 million USD hedge obligation to Trafigura Lte. Ltd. following the rapid escalation in global coal prices in late 2020. Coalspur has now resolved the permitting issue with the AER and received approvals to restart mining operations. However, Coalspur lacks sufficient funding to restart the Project and begin producing coal because of the depletion of its coal inventory and the loss of all revenue since January 2021. FTI was appointed monitor. Counsel is Osler for the company and Blakes for the monitor.

Algold Resources Ltd. (TSX: ALG)

Algold Resources Ltd. (TSX: ALG), a Montreal, Quebec-based junior mining company that focuses on the exploration and development of gold deposits in West Africa, filed an NOI on January 15, listing approximately $16.8 million in liabilities, including $9.8 million to Aya Gold & Silver Inc. ("AGS"). The pre-COVID-19 pandemic macro-economic background of gold, including increasing interest rates, stronger USD, and the downward trended price of gold, has led to a challenging financing environment for junior gold exploration projects. In addition, the jurisdiction in which the company operates, Mauritania, has been the object of certain negative perceptions in the industry and among investors that have made it more difficult to attract financing and support. Confronted with various liquidity issues and difficulties in raising debt or equity financing, the company ceased its operations on November 19. In June 2020, IIROC issued a cease trade order against the company. AGS, a Canadian mineral exploration and development company, has notified the company of its interest in providing interim financing during the court-supervised restructuring proceedings. Raymond Chabot is the proposal trustee. Counsel is Lapointe Rosenstein Marchand Melançon for the company and Dentons for AGS.

Northern Silica Corporation

Northern Silica Corporation, a Calgary, Alberta-based company operating an integrated silica mining and transport business, along with several related companies (collectively, the "NSC Companies"), obtained protection under the CCAA on June 30 on application by QMetco Limited and Taurus Resources No. 2. B.V. As of March, the companies have approximately $89.8 million in liabilities and $66.0 million in assets. The NSC Companies' silica mining takes place at mining facilities near BC ("Moberly Plant"), which can produce frac sand, and transport takes place at a facility in Alberta ("Penhold Facility"). Since early 2019, frac sand prices and demand have decreased. In addition to these market-wide issues, because the operations at the Moberly Plant have been uneconomic at this time, operations were shut down in late February. During the CCAA proceedings, the companies will be implementing a court-supervised sale and investment solicitation process. Vitreo Minerals Ltd. will be providing up to $3.0 million in DIP financing. Alvarez & Marsal was appointed monitor. Counsel is McMillan for the company, Cassels for the applicants, and Torys for the monitor.

Dominion Diamond Mines

Dominion Diamond Mines, a Calgary, Alberta-based diamond mining company with ownership interests in two large diamond mines in the Northwest Territories, filed for protection under the CCAA on April 22, listing approximately $70.2 million (USD) and $110.9 million (CAD) in liabilities. The company has historically supplied rough diamonds to the global market through its sorting operations in India and a sales centre in Belgium. It has been one of Canada’s largest independent diamond producers and one of the largest private employers in the Northwest Territories. The global COVID-19 shutdown of commercial trade and travel in March has effectively frozen the company's ability to move its rough diamond inventory, worth nearly $200.0 million, from the two mines to the company's sorting facilities in India for further movement for eventual sale on the world market. The company's inability to generate revenues from ordinary course sales of diamond inventory has resulted in an urgent liquidity crisis and the company is unable to meet its obligations as they generally become due. FTI is the monitor. Counsel is Blakes for the company, Bennett Jones for the monitor, and Cassels for the Government of the Northwest Territories.

Ontario Graphite

Ontario Graphite, a privately-owed Canadian mining company engaged in the re-commissioning and operation of a mining property near Kearney, Ontario, obtained protection under the CCAA on February 12 on application by Orionis, owed approximately $15.0 million (USD). Since at least September 2015, the company has been suffering from operational and liquidity issues. Orionis subsequently advanced funds to the company pursuant to three secured notes. While Orionis has worked collaboratively with the company for several years to resolve its financial and liquidity issues, Orionis is no longer prepared to fund the company outside of a court-supervised process. The company will be able to borrow up to a maximum of $2.8 million in DIP financing from Orionis while it runs a sale and investment solicitation process. Deloitte was appointed monitor. Counsel is Osler for the applicant, BLG for the monitor and Miller Thomson for the company.

Nemaska Lithium (TSX: NMX)

Nemaska Lithium (TSX: NMX), a Montreal, Quebec-based minerals mining company, obtained protection under the CCAA on December 23. The company is is in the process of developing a mine in the James Bay Region of Quebec that it hopes will enable it to become one of thew world's most significant lithium salts producer and supplier to the emerging lithium battery market. To date, over $616.0 million has been spent on construction and engineering costs, funded by a combination of debt and equity from government and private sources, including Softbank. In February 2019 it was determined that additional funds of approximately $375.0 million were required to complete construction of the mine and processing plant. Significant efforts were undertaken to find investors, buyers or partners but to date no binding agreements have been reached. Despite a strong long-term outlook for lithium, prices have recently plummeted as a result of increased supply, primarily from Australia, where producers have lower extraction costs and are in closer proximity to the Chinese markets. The mine is currently in a care and maintenance program as the company seeks to conserve cash while it evaluates its restructuring options. PwC is the monitor. Counsel is McCarthy Tétrault for the company, Goodmans and Woods for Nordic Trustee AS, Miller Thomson for Bird Civil & Mines, Torys for OMF Fund II (N) Ltd., Dentons for Chubb Insurance, Norton Rose Fulbright for Investissement Québec and Lavery for Allied World Specialty Insurance