Peruvian Metals Corp. (TSXV: PER) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide an update on mineral processing at its 80% owned Aguila Norte Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the months of April and May 2022, the Plant completed five mineral campaigns processing a total of 4,942 metric tonnes (mt) for a yearly cumulative total of 12,514 tonnes and set a new record. This year's total production level for the first five months exceeds 2021 (9,998 mt) by more than 25%. More importantly, the Company also achieved a significant milestone in May with the processing of purchased material. Processing during the month of May included a 313 mt batch of copper material purchased by the Company, grading 3.65 % Cu and 0.80 oz/t Ag. This resulted in the Company generating and delivering 58.82 mt of concentrate to Trading Partners Peru S.A.C. located in El Callao Lima Peru. Assaying by the trader returned results for the concentrate of 17.23 % Cu, 116 g/mt Ag and 3.56 g/mt Au. The Company will continue to purchase this copper material and expects to improve its recovery and overall grade of the concentrate.
In addition, Peruvian Metals is pleased to announce it recently processed a 339 mt batch of polymetallic material, which was also purchased by the Company. Assaying by the Company returned an average head grade of 11.5 oz/t Ag, 2.79% Pb and 9.61% Zn. The processing generated two concentrates resulting in 23 mt of a Lead-Silver concentrate grading 127 oz/t Ag, 34% Pb and 14% Zn and a second Zinc concentrate grading 44% Zn and 11 oz/mt Ag. Both concentrates are expected to be shipped shortly to the El Callao Port facility as the Company negotiates with metals traders for their final sales. It is important to note that the final sale price for the concentrates will depend on assay results provided by the metal trader. The Company is currently purchasing additional material from the same miners and will process the material once an excess of 300 mt has been accumulated.
The Company has also shipped and sold 31 mt of oxide gold material from it's 50% owned Palta Dorada Au-Ag-Cu property ("Palta Dorada") to Inca One's Kori One processing plant located in Southern Peru. The average grade of the material was 8.8 g/t Au and 74 g/t Ag. The Company is continuing to open up the old workings to access the sulphide Cu-Au-Ag material for the collection of a bulk sample to process at the Company's Aguila Norte Plant. The Company will continue to ship and sell the oxide gold material to third party toll mills designed to treat this type of oxide material.
Jeffrey Reeder, CEO of Peruvian Metals, comments: "We are extremely pleased to record our first concentrate sale and our first shipment of oxide gold material to the Kori One Processing plant. These activities represent a major milestone for the Company and advance our long-stated goals to leverage our collective assets (our fully operational mineral processing plant as well as our mineral claims) to drive increased profitability and shareholder value. Profit margins per tonne of material processed from purchased material are expected to be higher compared to treating third party material. While the Company will continue to develop relationships with local miners and process third party material, we will also focus on further increasing the amount of purchased material in our overall mix of processing activities and thereby expand the profitability at the Plant from current levels. As we continue to develop the infrastructure at Palta Dorada to access the high grade sulphide mineral, we will also continue to ship the oxide gold material from this 50% owned project to third-party toll mills for sale, which we believe represents another exciting, profitable activity. As a junior mining company, we believe we have developed a very unique approach and foundation by having our own production facility now generating revenue and profits as well as owning valuable claims that we can develop."
The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 mt per day level. Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure contained in this news release.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.
Peruvian Metals Corp. is a Canadian resource company listed on the TSX Venture Exchange : Symbol "PER", and the OTCQB Venture Market: Symbol "DUVNF". For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290 Website: www.peruvianmetals.com Email: jeffrey.reeder@peruvianmetals.com
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 release.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.
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Peru is a prolific producer of both gold and copper. In 2019, it was one of the largest gold producers in Latin America, with an output of 128.4 metric tonnes. Even more impressively, Peru was the world's second-largest copper producer that year, with a copper-mining output of 2.4 million metric tonnes, and it hosts 13 percent of the world's copper reserves. It is no surprise that major companies are focused on this mining-friendly nation, including Barrick Gold (TSX:ABX,NYSE:GOLD), Southern Copper (NYSE:SCCO), Freeport-McMoRan (NYSE:FCX), Hudbay Minerals (NYSE:HBM,TSX:HBM) and many more. As the majors focus on production, there is a growing number of junior exploration companies searching for viable copper and gold deposits in the region.
One company focused on finding success in Peru is Peruvian Metals (TSXV:PER, OTC Pink:DUVNF), a Canadian mineral processing and exploration company with reported revenue exceeding C$1.6 million for 2019. The company has an 80 percent stake in the Aguila Norte processing plant, which has a processing capacity of 100 tonnes per day.
Peruvian Metals is acquiring new high-grade properties within the plant's region. It has acquired and assembled the Cerro La Cumbre silver-gold project and obtained 50 percent ownership in the gold-silver-copper Palta Dorada project. Both properties are located within trucking distance to the Aguila Norte plant and have permits in place to extract minerals for processing. The company expects to process minerals from Palta Dorada in Q1, 2021.
The Cerro La Cumbre property has the potential to host a high-grade silver-gold resource that mimics yields of other past-producing gold-silver producers in the same Calipuy volcanic complex in Northern Peru. Mineralization at Palta Dorada is hosted in granitic rocks similar to the gold-rich Pataz region in Northern Peru. The average of the assay results from the sulphide rich quartz veins is 10.51 grams per tonne (g/t) gold, 329 g/t silver and 1.74 percent copper.
The company's dedication to property development has created strong relationships and support from small-scale artisanal miners and local officials. Government bodies are enthusiastic as there is a strong push to formalize and tax the artisanal and informal mining operations taking place in Peru. This could help regulate mining in the area, creating a more secure system for future development and exploration. Peruvian Metals is building key relationships with many of these miners.
The Aguila Norte processing plant is situated near many of the company's gold projects. The infrastructure at the company's key projects makes them highly accessible, which will further optimize yield. These properties have access to reliable power and water and are accessible by the Pan American highway and good access roads. Properties in Southern Peru are located nearby existing plants with good infrastructure.
With operations in Peru since 1994, Peruvian Metals has also established beneficial partnerships with external mining interests. The company has first-mover industry knowledge of the country and is continuously applying for new areas. Past key partnerships include Rio Alto, First Quantum (TSX:FM) and IAMGOLD (TSX:IMG), and these major companies have invested significant capital into Peruvian Metals' current projects.
Peruvian Metals also generates cash from option payments and eventually will generate more from several NSRs on their properties. A recent transaction on the company's Mansa Musa property with GEXEG — a private mining consulting company — will provide significant option payments to Peruvian Metals and a 3 percent NSR on gold production.
Likewise, the company has profit-sharing agreements in place with local miners for the sale of concentrates. In these deals, Peruvian Metals provides upfront capital for the shipment and treatment of minerals on properties owned by the concession owner. Good relationships with local miners give Peruvian Metals a competitive advantage over other companies as miners are continuously submitting new mineral sources.
The company's tight share structure and multi-faceted revenue model has positioned it for growth in revenue and exploration plans. Peruvian Metals is solely focused in Peru and insiders control almost 29 percent of the outstanding shares.
The company is well advanced in the process to expand and receive the permits to expand mining operations over the next couple of years. Between 2021 and 2023, it expects full capacity processing and 100 percent owned mineral production from properties in Northern and Southern Peru. With projected fully internal cash flow from processing and plant profitability, Peruvian Metals should see substantial revenue growth without significant share dilution to its current shareholders.
Peruvian Metals has an 80 percent stake in the Aguila Norte processing plant located near the Pan American highway, close to Trujillo, Peru's third-largest city. The plant's strategic positioning makes it one of the few in the region capable of supporting the many small-scale mining activities and local artisanal mining processes in Northern Peru. This plant can conduct crushing, milling and flotation circuits with an initial systemic processing capacity of 100 tonnes per day.
The plant processed approximately 18 thousand tonnes of minerals for small miners in 2019 and has yielded thousands of highly marketable mineral assets. This processing includes approximately 4,000 metric tonnes of zinc concentrates (averaging 52.4 percent zinc) and over a thousand tonnes of lead-silver concentrates (averaging 52.9 percent and 125 ounces per tonne). The plant was shut down for nearly five months because of COVID-19 restrictions and reopened July 28, 2020. It has achieved over 70 percent plant capacity. As operations expand, Peruvian Metals can increase processing capacity up to 350 tonnes per day under the current permit. This is in conjunction with the forecasted construction of the CIL/CIP gold processing circuit, which the existing plant permit also allows.
The Minas Maria Norte property hosts veins that contain rich silver, gold, lead and zinc mineralization within the historic Huachocolpa Mining District of Southern Peru. This 368 hectare property covers several high-grade gold-silver-lead-zinc veins hosted in volcanic rocks. The low sulphidation mineralization at Minas Maria Norte is considered to be similar to Kuya Silver's (CSE:KUYA) Bethania mine 65 kilometers to the northwest.
During 2017, interest in the Huachocolpa area was renewed and made polymetallic mining and milling the dominant formal economic activity in the district. The area has attracted two serious private companies by purchasing and making significant investments into the historic Recuperada and COMIHUASA mills. The combined capacity of the two mills is currently 1,500 tonnes per day with planned expansions to over 3,000 tonnes per day.
Mineralization at Minas Maria Norte occurs in a series of conjugate vein sets within a 600 meter wide structural corridor; over 10 veins have been observed on surface. Sample results within this structural corridor ranged from 0.01 to 40.30 g/t gold, 0.70 to 1,848 g/t silver, 0.01 to 20.80 percent lead and 0.02 to 16.66 percent zinc. Fifty percent of the samples averaged 5.33 g/t gold, 459 g/t silver, 5.4 percent lead and 1.99 percent zinc.
The historic Tangana lead-zinc-silver mine and associated veins are located approximately 2.5 kilometers southwest of Maria Norte. The vein sets at Tangana have a similar orientation but they occur at a lower elevation. The Tangana mine is now owned by Latitude Base Metals and still contains a significant lead-zinc-silver resource. Peruvian Metals is a shareholder of Latitude Base Metals.
The Palta Dorada property spans approximately 12 square kilometers within the Ancash mining district in Northern Peru. Advantageously positioned, the project site is accessible from the company's Aguila Norte processing plant by paved roadway.
The company took seven sulfide chip samples from the main shaft on site with widths between 0.49 to 1 meter. Mineral testing revealed grades of 3.06 to 24.1 g/t gold, 36 to 865 g/t silver and 0.22 to 4.94 percent copper, or US$896 gross metal value per tonne. Findings averaged 10.51 g/t gold, 329 g/t silver and 1.71 percent copper. Oxide gold veins show potential with 93 percent recoverable in bottle roll tests.
Mineral Sacks ready for shipment.
In partnership with Rio Silver Inc., Peruvian Metals Corp. has the option to earn 50 percent by spending US$250,000. This would establish a joint effort to explore and develop the property and share sales revenue from metal concentrates. Permits are in place for bulk sampling extraction, which will be processed at the Aguila Norte Plant. Revenue generation is forecasted to increase three to five times once processing and selling the company's own concentrate can be conducted. Development of this project will be driven from cash flow generated by continuously processing extracted bulk samples.
The Mansa Musa project hosts a high-sulfidation target within the gold-silver bearing system developed in the Tertiary period volcanic rock infrastructure on-site. This is an exciting potential revenue generator for the company as the geological patterns on the property mimic other high-sulfidation oxide gold properties in Southern Peru. A recent transaction on the company's Mansa Musa property with GEXEG will provide significant option payments to Peruvian Metals and a 3 percent NSR on gold production. Similar properties in Southern Peru include Minera IRL's (CSE:MIRL) Corihuami gold mine and Aruntani's Arasi gold mine. The style of mineralization means lower extraction costs and potentially higher yields. More than US$6 million has been spent on Mansa Musa by previous operators.
Jeffrey J. Reeder has a B.Sc. from the University of Alberta and has been registered as a professional geologist with the Association of Professional Engineers and Geoscientists of British Columbia since 1992. Reeder has over 26 years of experience in Peru and is fluent in Spanish. He is responsible for identifying and acquiring Aguila Copper-Moly, currently being developed by Mexican mining company Industrias Peñoles, and the Pinaya Copper-Gold project, currently being explored by Kaizen Discovery.
John P. Thompson has a B.Sc. and an M.Sc. from Acadia University in Nova Scotia and has been a director since June 2006. Thompson has over 35 years of experience in surface and underground exploration, mine development and mineral resource estimation. He has worked in Canada, the United States, the Dominican Republic, South America and Asia. Thompson is currently the President and CEO of Sona Resources Corporation.
Steve Brunelle is a Canadian geologist with 29 years of experience in mineral exploration throughout the Americas. He has been an officer and director of several resource companies, most recently Stingray Copper Inc. and, before that, Corner Bay Silver Inc. At Stingray, the Mexican bulk mineable oxide copper deposit Èl Pilar was taken to feasibility in 2009; Stingray was subsequently acquired via merger.
At Corner Bay Silver, the bulk mineable silver deposit Alamo Dorado was taken to feasibility and the company was acquired by Pan American Silver Corp. Brunelle is presently a director of Eagle Graphite Corporation, Klondike Gold Corp. and Rio Silver Inc. During the 1990s, Brunelle was the President of MacMillan Gold Corp. at the time of the assembly of the Aguila area properties in Peru.
William R. Brown is a geologist with nearly 40 years of experience in both mineral and petroleum exploration. Since the mid-1990s, he has lived in South America, principally working as country manager for TSX Venture Exchange and Australian Securities Exchange listed companies. He has been a key player in several successful property acquisitions in Peru, Argentina and Brazil. Brown is also a large shareholder of Peruvian Metals, owning more than 4 percent of the outstanding shares of the company.
Based in Lima, Peru, Oscar Francisco Pezo Camacho is a Peruvian National and is well known in the Peruvian mining and financial communities. From January 2011 to February 2012, Pezo was the CEO of NCF Bolsa SAB, a Peruvian brokerage house based in Lima. From 2004 to 2010, he was one of the founding shareholders and CEO of NCF Inversiones S.A., a Peruvian financial group experienced in Peruvian capital markets and holding direct investments in junior mining companies with projects in Peru as well as the parent company of NCF Bolsa. Pezo has a degree in Industrial Engineering from Pontificia Universidad Catolica del Peru and an MBA from Universidad Peruana de Ciencias Aplicadas (Lima, Peru).
Daniel Hamilton holds a Bachelor of Commerce and a Bachelor of Administration degrees from the University of Ottawa and he is a Chartered Professional Accountant. He brings over 30 years of post-qualification experience in senior accounting and financial roles. He previously served as Chief Financial Officer of several junior exploration companies listed on the TSX and TSX Venture Exchange and his experience includes Vice President, Controller for Amec Americas (a multinational engineering and project management services firm) and Group Controller for Zinc at Noranda (now Glencore Canada).
Justin Bourassa has over 15 years of global experience in the management, development, governance and reporting of private and publicly listed mineral exploration and mining companies. Over the past 15 years, he has previously served as Chief Financial Officer and/or as Controller and/or provided controllership duties for numerous publicly traded companies in the mineral exploration section and a number of private companies. In addition, Justin is a founding principal of SPROutsourcing, which provides bookkeeping and accounting services to various public and private companies.
FireFox Gold Corp. ("FireFox" or the "Company") announces, effective July 7, 2022 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the "Private Placement") announced on June 14th, 2022. In completing the second tranche, FireFox has increased the total gross proceeds of the Private Placement to $502,010
In this final tranche, the Company has raised gross proceeds of $50,000 by issuing 357,143 units of the Company at a purchase price of $0.14 per unit. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.21 per share for a term of two years from the date of issuance. The Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox's gold exploration properties in Finland.
FireFox will pay to qualified finders $2,520 in cash finders fees and will issue 15,000 finders warrants exercisable at $0.21 for 2 years from the date of issuance in association with the first tranche of the Private Placement.
FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a huge portfolio of prospective ground.
Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.
For more information, please refer to the Company's website and profile on the SEDAR website at www.sedar.com.
On behalf of the Board of Directors,
"Carl Löfberg" Chief Executive Officer
FireFox Gold Corp. Email: carl@firefoxgold.com Telephone: 778-938-1994
The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19 virus, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.
Forward-looking statements in this release may include statements regarding: the expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary. The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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.
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Silver Hammer Mining Corp. (CSE: HAMR; OTCQB: HAMRF) (the "Company" or "Silver Hammer" ) is pleased to announce plans to begin an 11-hole Phase II diamond drill program from the Company's established underground drilling station, before the end of July at its past-producing Silver Strand Project in Idaho.
The Phase II drill program will focus on expanding the known silver-gold zone down-dip and will also assess the potential for additional mineralized chutes (Figure 1). Targets for this program are based on exploration work performed by Silver Hammer in 2021, including a drone supported magnetic survey, Phase I drilling, as well integration of drilling data acquired from previous owners of the Silver Strand Project ( see Jan 26, 2022 news release ).
"This Phase II drill program will build upon results of the Phase I program completed late 2021, which confirmed that silver and gold-bearing sulphide mineralization extends beneath the historic mine workings," stated President & CEO Morgan Lekstrom. "As with Phase I, we will utilize an existing underground drift and drilling bay, which we rehabilitated last year, to begin to test the depth extent of the known mineralized body as well as to test for additional mineralized chutes in a very cost-effective manner."
Figure 1. Planned Phase II Drilling at Silver Strand https://www.globenewswire.com/NewsRoom/AttachmentNg/5802a1ae-217e-4cfc-8b3e-f1458c9f861a
The Company has signed a contract with Nasco Industrial Services and Supply, which will use HQ, 3.5-inch diameter drill core to obtain good core recovery and relatively large core samples for reliable assays.
Silver Hammer is also progressing exploration of the Eliza Project in Nevada with a detailed follow-up soil grid sampling program, the results of which are expected in late July.
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists, a contractor of the Company and the designated Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects .
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world's most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.
Disclaimer note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's projects.
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For investor relations inquiries, contact:
Kristina Pillon, High Tide Consulting Corp. T: 604.908.1695 E: investors@silverhammermining.com
Adam Bello, Primoris Group Inc. T: 416.489.0092 E: media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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SKRR Exploration Inc. (" SKRR " or the " Company ") (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) is pleased to announce that it has closed a non-brokered private placement (the " Private Placement ") for gross proceeds of $229,502 consisting of 2,991,700 flow-through units of the Company (each, a " FT Unit ") at a price of $0.06 per FT Unit and 909,091 units of the Company (each, a " Unit ") at a price of $0.055 per Unit.
Each FT Unit consists of one 'flow-through' common share (" FT Share ") and one transferable common share purchase warrant (" Warrants "). Each whole Warrant entitles the holder to purchase one common share of the Company at a price of $0.08 per share for a period of two (2) years following the date of issuance. Each FT Share is a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (the " Act ").
Each Unit consists of one common share of the Company and one Warrant. Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.08 for a period of two (2) years from the date of issuance.
The proceeds from the Private Placement will be used for exploration expenditures on the Company's projects and for general corporate purposes and working capital.
All securities issued in connection with the Private Placement are subject to a four month hold period from the closing date in accordance with applicable securities laws and the policies of the TSX Venture Exchange. In connection with the Private Placement, the Company paid aggregate cash finder's fees of $12,250.14 and issued 64,169 non-transferable finder warrants that are exercisable for a period of two (2) years from the date of issuance at a price of $0.08 per share.
About SKRR Exploration Inc. : SKRR is a Canadian-based precious metal explorer with properties in British Columbia and Saskatchewan – some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan . SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl President & CEO Tel: 250-558-8340
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 news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act ") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Statement Regarding Forward Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the Private Placement and the use of proceeds, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those filed under the Company's profile on SEDAR at www.sedar.com . There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, decrease in the price of nickel, gold and other metals, equipment failures or failure to obtain the necessary equipment, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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Snowline Gold Corp. (CSE:SGD) (US OTC:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, (a) up to 7,000,000 flow-through common shares of the Company (the "FT Shares") at a price of C$1.40 per FT Share for gross proceeds of up to C$9,800,000 and (b) up to 12,342,293 units of the Company (the "Units") at a price of C$1.25 per Unit for gross proceeds of up to C$15,427,866.25. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 for a period of two years(the "Offering
The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company's Yukon Territory mineral properties, which will qualify as "Canadian Exploration Expenses" and "flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2022. The gross proceeds from the issue and sale of Units will be used to support advancement of exploration on the Company's Yukon Territory mineral properties and for general and working capital purposes.
It is expected that the closing of the Offering will occur in two tranches, the first tranche closing on or about July 22, 2022 and the second tranche closing on or about August 2, 2022 and closing is subject to the satisfaction of certain conditions, including receipt of acceptance of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD Scott Berdahl, MSc, MBA, PGeo CEO & Director
For further information, please contact:
Snowline Gold Corp. +1 778 650 5485 info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering, the expected timing for closing the first and second tranches of the Offering and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things, risks associated with executing the Company's plans and intentions. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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Includes 58.2 g/t Over 1.1 Metres
Toronto, Ontario TheNewswire - July 5, 2022 Canstar Resources Inc. (TSXV:ROX ) & ( OTC:CSRNF) (" Canstar" or the "Company ") is pleased to announce new assay results for diamond drilling at the Kendell prospect on its Golden Baie property in south-central Newfoundland. Drilling took place in February and March 2022 and consisted of 2,907 metres ("m") in 39 holes. Notable drill intercepts are provided in Table 1 and full results are in Table 2 at the end of this release.
Table 1 - Notable intercepts from the 2022 Kendell prospect winter drill program
All intersections are downhole length as there is insufficient information to calculate true width.
Reported grades have not been capped.
Matthieu Lapointe, Vice President of Exploration for Canstar, commented: "This was the Company's first winter drill program on the Golden Baie project and we are very pleased with how the program was executed and also with the assay results. Gold mineralization was significantly extended downdip and we encountered the thickest auriferous quartz vein drilled yet in hole GB-22-94. We believe gold mineralization remains open to the northwest and southwest. Additional drilling is planned for this fall after downhole Acoustic/Optical Televiewer work has been done, further advancing our understanding of vein orientation."
Gold Mineralization at Kendell Extended at Depth and Along Strike
The 2022 winter drill program at the Kendell prospect was designed to test the continuity of gold mineralization downdip to the northwest and along strike to the northeast and southwest of the previously-drilled mineralized intercepts (Figure 1). The best mineralized intercepts in the 2021 drilling program appear to follow a structure, interpreted from ground magnetics, that strikes northwest-southeast and dips gently in that direction. Gold mineralization was generally in the form of fine grains in centimetre-scale quartz veins with additional gold mineralization associated with arsenopyrite and/or stibnite in the adjacent wall rocks. Mineralized intercepts are focused in the hanging wall of a sheared black shale horizon (Figure 2).
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Figure 1 - Plan map of the Kendell prospect showing 2021 and 2022 drill collars and mineralized intercepts
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Figure 2 - Vertical section A-A' of the Kendell prospect based on 2021 and 2022 drilling (looking northeast)
The 2022 Kendell drill results successfully extended gold mineralization downdip to the northwest. Hole GB-22-92 intersected 6.1 g/t gold over 3.6 m at a downhole depth of 52.5 m, including 44.9 g/t over 0.4 m. This intercept is approximately 80 m downdip of hole GB-21-53, which intersected 12.2 g/t gold over 3.9 m, extending the total known downdip length of gold mineralization at the Kendell prospect to approximately 180 m. The best intercept in the 2022 winter drill program was in hole GB-22-94, which intersected 20.6 g/t gold over 3.5 m, including 58.2 g/t over 1.1 m in the thickest quartz vein encountered in drilling to date. Due to its gentle dip, gold mineralization remains shallow. Hole GB-22-95, which was oriented to the northwest to test downdip of hole GB-22-94, did not intersect significant mineralization. Hole GB-22-95 may not have been drilled at the optimal orientation and possibly deviated from the target horizon. The Company intends to obtain a higher precision bore hole survey of GB-22-95 during the planned Televiewer work.
Winter drilling at Kendell also extended gold mineralization along strike to the southwest. Hole GB-22-64 intersected 9.5 g/t gold over 2.0 m and hole GB-22-72 intersected 6.7 g/t gold over 6.0 m approximately 10 m southwest of previously-drilled intercepts . Gold mineralization remains open along strike to the southwest. Drilling to the northeast, approximately 10 m from previous intercepts, did not return significant gold mineralization. Downhole televiewer work is expected to provide additional information on the orientation of mineralized quartz veins, which will enhance the understanding of the mineralization and optimize the azimuth for future drilling.
A thick quartz vein encountered in hole GB-22-94 (Figure 3) suggests the potential for broader zones of high grade gold mineralization where structures opened up through progressive deformation during orogenesis.
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Figure 3 - Drill core from GB-22-94 with large quartz vein starting at downhole depth of 47.8 m (visible gold within red circles)
Gold mineralization may be related to a lithological contact between the Isle Galet formation sedimentary rocks and black shales of the Riches Island formation (Figure 4), which also corresponds with a trend of anomalous till sample and grab sample results (see news release dated May 4, 2022 ). Multiple regional faults striking northeast-southwest, parallel to the Day Cove Thrust, are believed to exist on the Golden Baie property and these regional faults may be important controlling structures for orogenic gold mineralization, as seen in other recent gold discoveries in central Newfoundland.
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Figure 4 – Plan map of the Kendell prospect area showing interpreted faults, lithologies and select gold anomalies in grab samples and till samples
Gold Association with Arsenic and Antimony
The 75 diamond drill holes completed to date at the Kendell prospect in 2021 and 2022 indicate a very strong correlation between gold mineralization and arsenic and antimony. The gold-arsenic-antimony association is a well-defined hallmark of world-class gold producers such as the Fosterville, Bendigo and Ballarat mines of the Victorian Goldfields. The Golden Baie property has numerous areas with significant arsenic and antimony anomalies based on soil geochemistry (Figure 5), which are priority areas for regional exploration. The size and extent of these anomalies, combined with multiple rock samples with anomalous gold spanning a strike length of 40 km, indicate the potential for multiple gold mineralized structures on the district-scale Golden Baie property.
Additional soil sampling is planned for multiple locations on the Golden Baie project in 2022 to infill areas that have not been sampled or have historic soil samples with only gold assay data.
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Figure 5 – Significant gold-arsenic-antimony anomalies on the Golden Baie project based on soil samples
All 2021 and 2022 drilling was of NQ-sized drill core. Core samples were split with a diamond saw and half-core retained for further study after being detail logged and photographed. 2022 drill core samples were collected by company personnel and shipped to SGS Labs, Lakefield, ON for preparation of assay pulps. Gold analysis is completed in the SGS Labs, Burnaby, BC with a 30 g fire assay and AAS finish (code GE_FAA30V5). Samples returning >1 g/t Au are re-assayed with a gravimetric finish (code GO-FAG30V). Mineralized zones with visible gold are also analyzed by a 500 g screen fire assay with screening to 106 microns (code GO-FAS30M).
Soils are dried at a secure company facility and will be processed at SGS Labs using the GE_FAM50V5 assay method for gold (1-2,000 ppb Au detection) and the GE-IMS21B20 method, an ICP-MS analysis that captures 37 elements including trace level detection of pathfinders such as, Sb and W.
Canstar's QAQC program utilizes four commercially available reference standards, blanks and duplicate samples to ensure data quality. In addition, duplicates of selected samples are being sent to a second laboratory as check assays.
Matthieu Lapointe, B.Sc., P.Geo, Vice President Exploration of Canstar, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this release.
Table 2 - Kendell prospect 2022 winter drilling assay results
Table 3 - Kendell prospect 2022 winter drilling collar locations and drill hole details
Canstar Resources has a very experienced technical team and board who are focused on new mineral discoveries in Newfoundland, Canada. Central Newfoundland has emerged as one of the most exciting gold exploration districts due to recent high-grade orogenic gold discoveries along crustal scale fault corridors. The Company's flagship Golden Baie project, comprised of 774 km 2 of claims in south-central Newfoundland, has multiple high-grade gold anomalies at surface along 40 km of strike. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.
For further information, please contact:
Rob Bruggeman, President & CEO
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.
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Copyright (c) 2022 TheNewswire - All rights reserved.
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White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to announce the commencement of the 2022 drill program at the Betty Ford and Mascot targets on its Betty property. The Betty property is strategically located in the southern part of the Company's land package, approximately 15 km northeast of Western Copper and Gold Corporation's (TSX: WRN, NYSE: WRN) Casino porphyry deposit (Measured & Indicated Resources of 14.5 Moz gold & 7.6 Blbs copper and Inferred Resources of 6.6 Moz gold and 3.3 Blb copper (4) ) and 40 km east of Newmont Corporation's (NYSE: NEM, TSX: NGT) Coffee gold deposit (Measured & Indicated Resources of 2.14 Moz gold and Inferred Resources of 0.23 Moz gold (3) ). This drill program forms part of the Company's 2022 fully funded $6 million exploration program on its extensive and underexplored 350,000 hectare land package in the emerging White Gold District, Yukon, supported by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).
"Our 2021 maiden diamond drill program on the Betty Ford target returned one of the best holes drilled in the district, intersecting 3.46 g/t gold over 50m from near surface. We are eager to follow up on this exciting discovery to further test the extents of the broad gold zone encountered. We are also excited to commence a maiden diamond drill program at the Mascot Target that hosts three large gold mineralized zones, which we believe may be indicative of the presence of a broader gold system. Our Betty property is located in close proximity to existing large gold and copper deposits along the same fault structure. We look forward to further advancing this prospective and underexplored property," stated David D'Onofrio, Chief Executive Officer.
Maps accompanying this news release can be found at https://whitegoldcorp.ca/investors/exploration-highlights/ .
Highlights of 2022 Betty Drilling Program Include:
An overview of the planned 2022 Betty drill program, was provided in a Company News Release dated May 18, 2022. To date, the Company has completed the initial phase of diamond drilling at the Ryan's Surprise and Ulli's Ridge targets on the White Gold property, with further details provided in a Company News Release dated June 13, 2022. Once the Betty drill program is complete, the diamond drill rig will return to the White Gold property to carry out an additional phase of drilling on Ryan's Surprise. RAB drilling is planned later in the season to test targets along the Ryan's Trend, a 6.5 km long NNW gold and arsenic soil geochemical trend located approximately 2km west of the Golden Saddle and Arc deposits which also hosts the Ryan's Surprise and Ulli's discoveries. Assay results for all drill programs will be released as they become available and are interpreted by the Company.
About White Gold Corp. The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40% of the Yukon's emerging White Gold District. The Company's flagship White Gold property hosts the Company's Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au ( 1) . Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company's recently acquired VG Deposit also hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au ( 2) . Regional exploration work has also produced several other new discoveries and prospective targets on the Company's claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au (3) , and Western Copper and Gold Corporation's Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu (4) . For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled "Technical Report for the White Gold Project, Dawson Range, Yukon Canada", Effective Date May 15, 2020, Report Date July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR. (2) See White Gold Corp. technical report titled "Technical Report for the QV Project, Yukon, Canada", Effective Date October 15, 2021, Report Date November 15, 2021, available on SEDAR. (3) See Newmont Corporation news release titled "Newmont Reports 2021 Mineral Reserves of 93 Million Gold Ounces and 65 Million Gold Equivalent Ounces", dated February 24, 2022: https://www.newmont.com/investors/news-release/default.aspx . (4) See Western Copper and Gold Corporation technical report titled "Form 43-101F1 Technical Report Preliminary Economic Assessment", Effective Date June 22, 2021, Report Date August 2, 2021 , prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., and Daniel Friedman, P.Eng., available on SEDAR.
Qualified Person Terry Brace, P.Geo. and Vice President of Exploration for the Company is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "proposed", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
For Further Information, Please Contact:
Contact Information: David D'Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880 ir@whitegoldcorp.ca
To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f98af-0213-4cf7-9d95-2296b1f4c671
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