Satori Resources Inc. (TSXV: BUD) (OTCQB: STRRF They're currently focused on a dual track program of evaluating the former operating high-grade gold mine. BTV chats with President & CEO, Jennifer Boyle to learn more.
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Satori Resources Inc.(TSXV: BUD) (OTCQB: STRRF)
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127152
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Gold has historically been considered an inflation-resistant investment that is a reliable addition to any investor's portfolio. Even though the price of gold can experience drastic changes similar to a stock or bond, gold typically exhibits an overall consistent price increase when viewing it as a long-term investment.
While many investors may look for companies with new exploration projects, past-producing gold mines often offer some of the best exposure to gold. Companies that redevelop past-producing mines have a quicker path to production by leveraging existing infrastructure, workforce and historical data. Combined with the right management team, this provides ideal conditions for a successful mining venture.
Satori Resources (TSXV:BUD) is one such company. Its flagship project is the 100 percent owned Tartan Lake Gold project near Flin Flon, Manitoba. The past-producing Tartan Lake Gold Mine was operational from 1986 to 1989 but was shut down when the price of gold fell below $400 per ounce in 1989
The Flin Flon Snow Lake Greenstone Belt, home of the Tartan Lake Gold project, is considered one of the largest and most prolific greenstone belts in the world. Greenstone belts are unique geologic features that can contain numerous minerals, such as copper, silver and zinc. More importantly, there is a strong presence of gold deposits in greenstone belts. The Tartan Lake Gold project contains 20 mineral claims across 2,670 hectares, and produced 47,000 oz of gold from 1987 to 1989.
In an interview with INN, Satori Resources CEO Jennifer Boyle shared that the company has a dual-track strategy to advance the Tartan Lake Gold project. This strategy includes a primary focus of resource expansion (exploration) while simultaneously evaluating putting the mine back into production.
The Tartan Lake Gold Mine covers 2,670 hectares and includes past-producing mines that have historically produced approximately 47,000 ounces of gold from 250,000 tonnes of ore. It is important to note that the previous mines did not shut down due to resource exhaustion, but due to the price of gold dropping below US$400/oz in 1989, which destroyed the profitability of the operation. The project area, while still rich in resources and containing over 20 mineral claims, has been overlooked until now.
The updated resource estimate for the Tartan Lake deposit released in 2017 stated an Indicated resource of 1,180,000 tonnes containing 240,000 ounces gold at 6.32 g/t and an Inferred resource of 240,000 tonnes containing 37,000 ounces gold at 4.89 g/t. making this an promising project.
The project has an existing 450 mt/day processing plant along with a decline that provides access to developed mining blocks. Satori Resources can leverage the existing infrastructure to achieve quicker production timelines. The project already contains a 450 TPD mill complex (refurbishment required), a 2,100-meter ramp, and a vent raised from the surface down to level 260. Additionally, the project area has intact and operational hydropower, full road access and an exploration database.
Satori Resources' dual-track strategy includes resource expansion and mine development evaluation. Satori Resources has expanded the main zone by 200 meters, a significant step in the company's roadmap. CEO Jennifer Boyle shared, "The Phase 1 results clearly demonstrate that the Main Zone continues to depth and offers an immediate opportunity to increase the mineral resources at Tartan Lake with additional drilling."
Much of the project's area has remained unexplored or underexplored, providing investor upside on its discovery potential.
Peter Shippen is an entrepreneur, investor and capital markets professional with 20 years of experience. Peter Shippen is the Chief Executive Officer of Britannia Life Sciences Inc., an international product development platform integrating services to companies launching products in the cosmetics, food and wellness industries. Peter was formerly senior executive at Purpose Investments, following Purpose's acquisitions of Redwood Asset Management. Peter was President and CEO of Redwood until its amalgamation with Purpose in March 2018. Prior to founding Ark Fund Management in 2007, Peter worked in investment research roles at BMO Nesbitt Burns and TD Waterhouse Canada Inc.
Peter Shippen holds a CFA designation, a CAIA designation and earned BA, Economics from Wilfrid Laurier University.
Jennifer Boyle is a Director and Founder, and former Executive Chair of Satori. Jennifer sat as a member of the board of directors of Carlisle Goldfields Limited (TSX:CGJ) before it was acquired by Alamos Gold Inc. in January 2016, and she sat as a member of the board of directors of Nevada Exploration Inc. (TSXV:NGE) (2010 to 2015). Boyle is a former securities lawyer who has been, for the past 22 years, working at founding or re-organizing early-stage junior resource issuers, and developing various growth strategies for various clients. Formerly, Boyle was Chief Executive Officer of St. Eugene Mining before the company was bought by Claude Resources Inc. and she was a founding director and Executive Vice President of Canadian Royalties Inc. (1997 to 2006); co-founder and Executive Vice President of Golden Valley Mines Ltd. (2002 to 2005); and co-founder and Chief Executive Officer of Takara Resources Inc. (2006 to 2013). She currently sits as a member of the national and the Toronto local advisory committee for the TSX Venture Exchange, and is General Counsel at an Institutional Forex and IIROC dealer.
Doug Flegg is a former Managing Director of Global Mining Sales for BMO Capital Markets, having over 30 years of mining and mining finance experience, supported by a technical background in Geology, augmented with over 20 years of mining-related capital markets experience in portfolio management and global equity sales. Doug started his career as an exploration geologist in Canada, and has more recently transitioned into a mining advisory and strategic consulting role, having built strong expertise and a solid network in the mining industry.
Wes Hanson worked at the Tartan Lake Gold Mine as Chief Geologist during the time that it produced gold in the late 80's. Subsequently, when the Tartan Lake Gold Mine was owned by Satori's predecessor company (St. Eugene Mining Corporation, prior to its acquisition by the then Claude Resources Inc.), Wes was involved with Tartan (2010-2012) as a board member of St. Eugene Mining. Wes Hanson re-joined the Tartan Lake team in 2020 as lead technical director, this being his third time working on the project
Mr. Kilborn currently holds the position of Chief Financial Officer at a private technology company, and previously held the position of Business Advisor, High Impact Firms, BDC Advisory Services, and also Chief Financial Officer of Satori Resources during the period 2011 through to 2016. Jeff has over nineteen years of finance experience, having held progressively senior positions at Canadian subsidiaries of two U.S.-based investment banks as well as well as a mid-market Canadian private equity firm. Mr. Kilborn has broad financial experience, including debt and equity capital raising and mergers and acquisitions advisory.
Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce the completion of its 2022 Phase I drill program at Tartan Lake. A total of 10 holes (2,900 metres) were completed. Seven holes targeted the McFadden showing, an area of intense quartz-carbonate-tourmaline veining hosted in intensely sheared and deformed volcanics, approximately 1.5 kilometres south of the Main Zone.
The remaining three holes targeted the down-plunge extension of the South Zone approximately 100 meters below hole TLSZ21-05 which intersected 9.59 g/t Au over 11.75 metres, the highest value intercept ever reported at the South Zone (See news release dated October 14, 2021).
Assays for the 2022 Phase I program are expected in June 2022. The Company is currently planning its 2022 Phase II field program, which will: (i) test the extent of the new hanging wall zone identified in hole TLMZ21-12, intersecting 47.56 g/t Au over 5.8 meters, within a wider interval averaging 23.76 g/t Au over 12.6 meters - (See news release dated December 6, 2021); and (ii) conduct a ground reconnaissance program to investigate surficial geology and access to the large chargeability conductor shown in the north-west portion of the recently completed IP data (See Figure 1 below).
Jennifer Boyle, Chief Executive Officer, states that "Our focus has been to increase the mineral resource at Tartan Lake with the objective of outlining the potential to host a million ounces. Our drilling to date has successfully extended both the Main and South Zone to depth, along plunge, reporting grades and interval widths that are among the best intercepts ever reported at Tartan Lake. Our next step is to demonstrate additional mineralization distal to the two known resource areas. Based on the available data, McFadden was the most advanced target, demonstrating similar lithologies to the known gold bearing areas with promising surface results. The winter IP survey identified additional untested drill targets within the claim block that we plan to systematically test as part of our continued exploration effort. The Tartan Lake mine shut down in 1989 when the price of gold fell below USD$400, leaving behind a developed ramp system to the known mineral resource. The project has never been systematically evaluated since the closure of the mine. Tartan Lake is located in the heart of the most significant VMS district in the world, where several, high grade copper- zinc-gold deposits have been discovered and mined."
Figure 1: Induced Polarization Survey Tartan Lake Mine Project - Winter 2022 To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/3276/125236_18e529e24469d9e3_002full.jpg
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.
ABOUT Satori Resources Inc. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Satori believes the mineral resources of the project are currently limited by drill coverage.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B. President and Chief Executive Officer Satori Resources Inc. (416) 904-2714 jennifer@capexgroupinc.com
Mr. Pete Shippen Chair, Satori Resources Inc. (416) 930-7711 pjs@extramedium.ca
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.
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125236
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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that drilling at the South Zone has now commenced at the Tartan Lake Gold Mine Project, after having completed diamond drilling at a remotesatellite target area (McFadden) located 1 kilometre south-east of the known Main ZoneSouth Zone deposit.
Ongoing drilling at South Zone is testing the down plunge extent of the known mineralization, where three holes are planned to target a potential high-grade chute within the South Zone at depths below Satori's previous drilling, along 150 meters of strike length.
The Company further announces that it has engaged the services of Rayleigh Capital Ltd. to co-ordinate and manage all investor awareness activities. Further, the Company has entered into an advertising and investor awareness campaign with Dig Media Inc.'s Investing News Network ("INN") of Vancouver, British Columbia. INN's function is focussed on advertising and not investor relations or market making services.
Rayleigh shall be engaged for a six month period at a rate of $3,000 per month, and INN has been paid $3,300 per month (six months) plus a flat rate of $12,000 for news dissemination and internet exposure through the INN site.
Jennifer Boyle, Chief Executive Officer, states that "We believe that Satori's recent exploration success at Tartan Lake is not widely understood, and we are aggressively moving to communicate our exploration successes to a broader audience. The historical database at Tartan Lake includes of 500 holes (79,698 meters). In the past 11 months, we have added 12 holes at the Main and South Zones, extending both to depth along an interpreted plunge line that had not been tested historically. Results of our limited drill programs to date include some of the highest grades ever returned at both targets, including TLMZ21-12 in the hanging wall of the Main Zone, which possibly represents a new zone, returning 47.56 g/t Au over 5.8 meters, and TLSZ21-05 (South Zone) which averaged 9.59 g/t Au over 11.75 meters. Our drill programs are designed to demonstrate the potential for expansion at both the Main and South Zone deposits, at depth, and to identify the potential for additional mineralization at satellite targets such as McFadden."
The Company also announces the granting of 525,000 incentive stock options to officers and directors of the Company, exercisable at a price of $0.15 for 5 years.
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.
ABOUT Satori Resources Inc. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Satori believes the mineral resources of the project are currently limited by drill coverage.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B. President and Chief Executive Officer Satori Resources Inc. (416) 904-2714 jennifer@capexgroupinc.com
Mr. Pete Shippen Chair, Satori Resources Inc. (416) 930-7711 pjs@extramedium.ca
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.
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121012
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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that a drilling campaign and preliminary work to complete an IP survey are underway at the Tartan Lake project, Flin Flon, Manitoba.
The first 2,000 metres of a 5,000 metre drilling campaign has commenced at the McFadden Zone, a 30 metre by 40 metre stripped shear zone outcrop located 1 kilometre south-east of the known Main Zone deposit. Drilling at McFadden will precede the 3,000+ metre drill program planned to further test the Main Zone, the South Zone, and the interpreted new Hanging Wall Zone, which returned the second highest value intercept ever recorded at Tartan Lake at hole TLMZ21-12, intersecting 47.56 g/t Au averaged over 5.8 meters, within a wider interval averaging 23.76 g/t Au over 12.6 meters (See news release dated December 6, 2021).
The Company plans to drill the Hanging Wall Zone and the Main Zone at greater depths with a drill rig that has deep-drilling capacity. The drilling equipment currently on site has depth capacity for South Zone and McFadden Zone, and allows Satori to access McFadden at this time by winter road.
Jennifer Boyle, Chief Executive Officer, states "The McFadden Zone has been on our radar for quite some time. Drilling at McFadden provides Satori with the opportunity to make a potential new discovery outside of the known Main Zone and South Zone deposits. We are following up on a historical stripped area with surface expressions of extensive quartz-carbonate-tourmaline veining within a significant shear zone, similar to what we are seeing at Main Zone and South Zone. Our recently constructed snow-packed trail system to McFadden has provided more efficient access to four (4) drill pad set-ups, which may have otherwise been more difficult during summer months without helicopter support."
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/3276/118129_b239233db4f8bac0_002full.jpg
The Company further announces that it has completed the first phase of a two-phase 45 line kilometre Induced Polarization survey. The survey shows several narrow resistive zones and corresponding IP chargeability anomalies that could represent quartz veins within a sulphide enriched shear expression at McFadden.
The survey has also produced several anomalies elsewhere and has generated preliminary targets for drill testing. The grid covers the Main Zone, the South Zone, as well as nearby targets of Ruby Lake, McFadden and N229.
Figure 2: Satellite Image Tartan Lake Gold Mine Project
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/3276/118129_b239233db4f8bac0_003full.jpg
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.
ABOUT Satori Resources Inc. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Satori believes the mineral resources of the project are currently limited by drill coverage.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B. President and Chief Executive Officer Satori Resources Inc. (416) 904-2714 jennifer@capexgroupinc.com
Mr. Pete Shippen Chair, Satori Resources Inc. (416) 930-7711 pjs@extramedium.ca
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.
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118129
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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that it has received its Exploration Permit for the 100% owned Tartan Lake Project, Flin Flon, Manitoba, which is valid for a three-year period and allows for 155,000 meters of drilling. The Company plans to resume drilling early in this first quarter with a 5,000 metre phase II drill program that will include a series of deep holes testing the extent of the recently announced high grade mineralization in hole TLMZ21-12, which intersected an average 47.56 gt Au over 5.8 meters, within a wider interval averaging 23.76 gt Au over 12.6 meters. This is the second highest value intercept ever recorded at Tartan Lake with over 500 holes completed to date, and was one of the top 5 high grade drill intercepts reported last year according to Streetwise Reports (122821) (Counting Down Top Drill Holes of 2021 (streetwisereports.com). In addition to following up on the high grade intercept, the Company plans continue to expand the South Zone to depth, and to begin drill testing targets along the property's wide shear zone, outside of the current resource areas.
The high-grade mineralization intersected in hole TLMZ21-12 was found in the hanging wall of the Main Zone, and is associated with pyrite rich felsic volcanics, not the massive quartz-carbonate veins that typically denote high grade mineralization at both the Main and South Zones. The interval returned consistent gold grades throughout the entire interval (Ref. Table 1.0). This new mineralization is interpreted to be sub-vertical and is open in all directions. The association of the high grade intercept with a felsic volcanic unit, the absence of quartz-carbonate veining, the increased sulphide content, and the location in the hanging wall of the Main Zone, collectively, indicate that this may be a potential new zone of mineralization. This new zone lies to the west and is deeper than all the historical drilling tracing the Main Zone.
Jennifer Boyle, Satori's President and CEO, states that "We are looking forward to following up on the spectacular high grade results reported in TLMZ21-12. Our phase one drill program at the Main and South Zones delivered on every one of our stated objectives. We demonstrated continuity of the mineralized system at depth, down plunge, and we are thrilled that of the twelve holes drilled, two reported intersections which ranked as the second highest results ever at both the Main and South Zone deposits. We have a strong balance sheet going into 2022 and the phase 2 drilling in Q1 is intended to expand the high-grade Hanging Wall Zone intersected in TLMZ21-12."
Figure 1: Long Section Hanging Wall Zone / Main Zone
To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/3276/112993_f306cd684468ab3c_002full.jpg
To view an enhanced version of Table 1.0 - TLMZ21-12, please visit: https://orders.newsfilecorp.com/files/3276/112993_f306cd684468ab3c_004full.jpg
True width is estimated based on the currently available interpretation of the mineralization and drill hole orientation surveys.
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.
ABOUT Satori Resources Inc. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Satori believes the mineral resources of the project are currently limited by drill coverage.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B. President and Chief Executive Officer Satori Resources Inc. (416) 904-2714 jennifer@capexgroupinc.com
Mr. Pete Shippen Chair, Satori Resources Inc. (416) 930-7711 pjs@extramedium.ca
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.
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112993
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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that it has closed its private placement offering for gross proceeds totaling $2,144,050. The Company issued 7,154,737 flow through common shares at a price of $0.19, and 5,231,000 common shares at a price of $0.15 per share.
The proceeds from the issuance of flow through common shares shall be used for exploration activities that qualify as Canadian Exploration Expenses under the Income Tax Act (Canada), and proceeds from the issuance of common shares shall be used for working capital.
In connection with this closing, the Company paid cash finders' fees totaling $89,901.00 to eligible finders. All of the securities issuable in connection with the offering are subject to a hold period expiring four months and one day after date of issuance.
Officers and directors of the Company subscribed for 865,000 common shares, for gross proceeds of $134,350 (7%), which resulted in related party considerations pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Satori relied on the exemptions contained in section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(a) of MI 61- 101 for an exemption from the minority approval requirement as the fair market value of the securities distributed under the offering, insofar as it involved interested parties, did not exceed 25% of Satori's market capitalization.
ABOUT Satori Resources Inc. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Satori believes the mineral resources of the project are currently limited by drill coverage.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B. President and Chief Executive Officer Satori Resources Inc. (416) 904-2714 jennifer@capexgroupinc.com
Mr. Pete Shippen Chair, Satori Resources Inc. (416) 930-7711 pjs@extramedium.ca
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.
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108767
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Freegold Ventures Limited (TSX: FVL) (Frankfurt: FR4N) (OTCQX:FGOVF) (" Freegold " or the " Company ") is pleased to provide the results of the 2022 Annual General Meeting of Shareholders held on June 30, 2022 (the " Meeting ") and announces that all matters set out in the Management Information Circular dated May 16, 2022 (the " Circular ") were approved by the shareholders of the Company. A total of 96,220,856 shares were voted representing approximately 28.49% of the outstanding shares of the Company.
The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:
At the Meeting, the Company's shareholders also approved the appointment of Davidson & Company LLP, Chartered Professional Accountants as the auditors of the Company for the ensuing year.
Each of the matters voted upon at the Meeting is discussed in detail in the Circular, which is filed under the Company's profile at www.sedar.com .
Freegold is a TSX listed company focused on exploration in Alaska and holds through leases the Golden Summit Gold Project, near Fairbanks , as well as the Shorty Creek Copper –Gold Project near Livengood. Drilling remains ongoing at Golden Summit.
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2021 filed under Freegold's profile at www.sedar.com for a detailed discussion of the risk factors associated with Freegold's operations.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/30/c3703.html
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Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") reports that the Company will be extending the exercise period of a total of 6,434,000 share purchase warrants, all of which are exercisable at $0.12 per share (collectively, the "Warrants"). The Warrants were issued on July 23, 2018, pursuant to a private placement (see news release NR-07-18) and are scheduled to expire on July 23, 2022. The Company proposes to extend the expiry by one (1) year, and accordingly, the new expiry date for the warrants will be July 23, 2023.
All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.
Bravada's two-pronged approach to adding value at its wholly owned Wind Mountain gold/silver project in Nevada is progressing as planned after minor delays due to contractor availability.
Thirteen reverse-circulation (RC) holes were drilled during 2021 to in-fill a shallow, under-drilled portion of the existing resource with results successfully demonstrating higher-grade concentrations of gold and silver. A resource update is underway and will form the basis of a Preliminary Economic Assessment (PEA) for a Phase 1 "Starter Pit" with studies to be released in early Q3 2022. This part of the program should upgrade the quality of shallow mineralization already discovered.
Renewed RC drilling at Wind Mountain is expected to begin on July 5th or 6th. Three or four holes, approximately 4,000' (1,200m), are planned from newly permitted drill sites to test beneath a zone of banded quartz veins intersected in December 2020 and followed up along strike in mid-2021. The vein zone is interpreted as a potentially important zone of upwelling, referred to as a feeder zone. Evidence includes the first banded quartz veins intersected in hole WM20-102, which intersected1.5 metres of 269.0g/t Ag and 0.404g/t Au within a thicker interval of banded quartz veining together with anomalous gold and silver. Four 2021 holes traced the banded vein zone beneath mine waste and gravel cover for approximately 330 metres, but the holes shallowed and did not test deeper in the vein zone than did WM20-102.
The new sites and larger RC drill rig should be able to test the vein zone approximately 150m deeper than the existing vein intersection. This part of the program is designed to test for high-grade gold and silver mineralization that is often found in upwelling/feeder zones of low-sulfidation deposits worldwide, a potential "game changer" for the project.
WM Feeder Target Cross Section Silver
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Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.
Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.
On behalf of the Board of Directors of Bravada Gold Corporation
"Joseph A. Kizis, Jr."
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.
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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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Snowline Gold Corp. (CSE:GD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has encountered 415 m of nearly continuous mineralization downhole from bedrock surface in V-22-007 at its Rogue Project's Valley Zone in Canada's Yukon Territory. Hole V-22-007 was a 340 m step-out along-strike to the southeast of 2021 drill hole V-21-003 (which intersected 168.65 m averaging 1.25 gt Au from bedrock surface). A second drill rig mobilized to site and has completed drilling V-22-008, which intersected sheeted quartz veins 460 m from the nearest hole to date, further expanding the footprint of known mineralization at Valley
Snowline Chair and Director Craig Hart comments that "I've seen a lot of rocks and a lot of drill core from many intrusion-related gold systems, but these Valley intersections have the most intense vein densities I've ever seen. There are overprinting vein generations and varying vein orientations which is unusual and further indicates a very robust mineralizing system. To see these vein densities over significant widths is very encouraging. The numerous observations of visible gold and bismuthinite indicate that the system is mineralized, but of course the assay results are required before we get too excited." Dr. Hart is a globally recognized expert in intrusion-related gold systems.
Hole V-22-007 encountered steeply dipping sheeted quartz vein mineralization in diorite from bedrock surface at 4 m to its total depth of 415 m downhole (corresponding to roughly 340 m total vertical depth). The hole encountered the densest concentrations of sheeted quartz veins observed in the Valley Zone to date, in places exceeding 20 quartz veins per metre. Minor bismuthinite is commonly observed in veins. Small (
The presence of such a large and intense zone of mineralization in a significant step-out along trend highlights the scale potential of the Valley Zone. Assays for this and all holes drilled so far in 2022 remain pending.
UPDATE ON HOLE V-22-005
Hole V-22-005 was described to 233 m depth in a previous news release (June 13, 2022), based on the progress of drilling at the time. The hole continued to a total depth of 339 m. Some of the hole's highest vein densities (up to 20 veins per metre) and its thickest quartz veins (up to 30 cm) were encountered below the 233 m mark in subsequent drilling, along with additional occurrences of trace visible gold.
A second helicopter-portable drill has mobilized to the Valley Zone. The two drills are working in tandem to rapidly build out the scale of known mineralization at Valley while exploiting efficiencies of shared logistical support.
This second drill has completed drill hole V-22-008, which was collared outside the northern boundary of the intrusion. The hole intersected moderate to strongly hornfelsed sandstones and siltstones locally cut by quartz-arsenopyrite veins known on surface to host gold. From 190.7 m downhole to end of hole at 292 m, V-22-008 encountered sheeted quartz veins in diorite, typically 3-5 veins per metre. The location of this mineralization is over 460 m laterally from mineralization in hole V-22-006 and 500 m along section from the collar of V-22-007, significantly expanding the potential footprint of the mineralized system at Valley.
Assays for all four holes drilled so far in 2022 are pending, and drilling of additional holes at Valley is ongoing. While the Company finds these visual results to be encouraging, it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed. Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
Table 1 - Location and orientations of completed holes thus far in the Valley Zone in 2022. Assays results for all holes remain pending.
The geological setting and style of mineralization at Rogue's Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes drilled (see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion.
Valley is one of at least five bulk-tonnage gold targets present on Snowline's Rogue project. The Gracie target, roughly 4 km to the east, covers a 5.1 km x 0.8 km gold in soil and talus fine anomaly above an unexposed felsic intrusion (see Snowline news release dated April 7, 2022). Mineralization is thought to be similar to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie in mid-season 2022.
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.
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD Scott Berdahl 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 about the Company's upcoming drill program, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. 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 related to uncertainties inherent in drill results and the estimation of mineral resources; and 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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Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) (OTC: NVSGF) announced today the closing of its fully-subscribed non-brokered private placement first announced on June 8, 2022 and June 16, 2022 of 7,500,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of $1,500,000 (the "Offering"). Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase an additional common share (a "Warrant Share") at an exercise price of $0.30 per Warrant Share for a period expiring two years following the closing date of the Offering.
In connection with the closing of the Offering, the Company paid finder's fees of 7% cash and 7% finder's warrants (each a "Finder's Warrant"), consisting of $27,965 in cash and the issuance of 139,825 Finder's Warrants to the following finders: Haywood Securities Inc. - 87,325 Finder's Warrants and $17,465 cash; PI Financial Corp. - 43,750 Finder's Warrants and $8,750 cash; Canaccord Genuity Corp. - 5,250 Finder's Warrants and $1,050 cash; Red Cloud Securities Inc. - 3,500 Finder's Warrants and $700 cash. Each Finder's Warrant will entitle the holder thereof to purchase one Share in Nevada Sunrise at a price of $0.20 per Share, exercisable for a period expiring two years following the closing date of the Offering.
All securities issued in the Offering are subject to a hold period of four months plus one day from the closing date, with the hold period expiring on October 30, 2022 , during which time the securities may not be traded. The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
Proceeds from the Offering will be used to fund exploration of the Company's lithium, precious metals, cobalt and copper properties in Nevada , and for general working capital.
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC , Canada , that holds interests in gold, copper, cobalt and lithium exploration projects located in the State of Nevada, USA .
Nevada Sunrise owns 100% interests in the Gemini and Jackson Wash lithium projects, both of which are located in the Lida Valley in Esmeralda County, NV. The Company owns Nevada water right Permit 86863 for 80.09 acre/feet/year, also located in the Lida Valley basin.
The Company's key gold asset is a 20.01% interest in a joint venture with Copaur Minerals Inc. at the Kinsley Mountain Gold Project near Wendover, NV. Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au 1 .
1 Technical Report on the Kinsley Project, Elko County, Nevada , U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin , Ph.D., and Gary L. Simmons , MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR ( www.sedar.com ).
Nevada Sunrise has right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV. The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, NV , with Global Energy Metals Corp. holding an 85% participating interest.
This release may contain forward – looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. 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 forward looking statements. Forward – looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward – looking statements whether as a result of new information, future events or otherwise.
Such factors include, among others, risks related to the Company's exploration activities and future plans at its mineral exploration projects; reliance on technical information provided by third parties on any of our exploration projects; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months Ended March 31 , 2022, which is available under Company's SEDAR profile at www.sedar.com .
Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.
SOURCE Nevada Sunrise Gold Corporation
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Vancouver, Canada TheNewswire - June 28, 2022 Nexus Gold Corp. (" Nexus Gold " or the " Company ") (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) announces its intent to spinout (the " Spinout ") the Company's existing Canadian projects (collectively, the " Canadian Projects "), which include the McKenzie Gold Project, located in Red Lake, Ontario, and the 13,000-hectare Cyclone Gold-Nickel-Copper project, located in the James Bay region, Quebec.
In anticipation of the Spinout, the Company is transferring all of its rights to the Canadian Projects to Nexus Metals Corp. (" Nexus Metals "), a newly-established subsidiary of the Company. A total of 45,390,465 shares of Nexus Metals will then be distributed on a pro rata basis to shareholders of the Company pursuant to a plan of arrangement conducted in accordance with the Business Corporations Act (British Columbia). Based on the current outstanding share capital of the Company, it is anticipated that this will result in current shareholders receiving approximately 1 share of Nexus Metals for every 7 shares of the Company they hold as of the record date for the Spinout.
The Spinout is intended to allow the Company to segregate its assets for the purpose of more focused marketing and financing opportunities. Following the Spinout, the Company will continue to develop its West African projects while pursuing additional international opportunities, while Nexus Metals will focus on the Canadian Projects and the pursuit of North American-based opportunities.
"With the emergence of both McKenzie Gold Project in Red Lake, and the Dakouli 2 Gold Concession in Burkina Faso, West Africa, as viable, stand alone development projects, the Board feels the time is right to give both projects a more singular focus, " said president and CEO, Alex Klenman. "By spinning out the Canadian assets into a new reporting issuer we are able to pursue regionally specific acquisitions and financing opportunities. By keeping the Burkina Faso assets in Nexus, we can follow a similarly dedicated path with an international focus. This plan segregates the assets for both finance and marketing objectives, improves both acquisition and capital opportunities, and creates what we feel is a less restrictive path for project value to emerge. We believe this is the best course of action to pursue the next phase of development with our projects and we look forward to executing the plan in the coming months," continued Mr. Klenman.
The Company is also currently conducting due diligence on several potential project acquisitions for both companies to coincide with the proposed spinout transaction.
"We're currently looking at advanced projects for both entities," said CEO, Alex Klenman. "Nexus Metals will expand its focus to include not only gold, but other high-demand materials including lithium, and potentially copper as well. For Nexus Gold, we're looking at opportunities to acquire precious metals projects with established resources or that include enough data suggesting one isn't too far off. We have an opportunity here to change the landscape for Nexus, and the board is fully committed to creating a situation where value can be realized," continued Mr. Klenman.
Completion of the Spinout is subject to approval of the TSX Venture Exchange and the Supreme Court of British Columbia, as well as approval of the shareholders of the Company at a special meeting to be held on August 4, 2022 (the " Meeting "). Further information regarding the Spinout is available in the management information circular mailed to shareholders in connection with the Meeting, a copy of which will be available under the profile for the Company on SEDAR ( www.sedar.com ).
The board of directors has not yet determined a record date for the distribution of shares of Nexus Metals upon completion of the Spinout, and further details regarding completion of the Spinout will be provided in a subsequent news release. Following completion of the Spinout, Nexus Metals will become a reporting issuer in accordance with applicable Canadian securities laws. While the Company intends to seek a listing for Nexus Metal on a Canadian stock exchange, completion of any listing will be subject to Nexus Metals fulfilling the listing requirements.
The Company also announces that it has reached an agreement with an arms-length service provider to settle an outstanding payable (the " Payable ") in the amount of $50,000 related to the provision of accounting services to the Company. In settlement of the Payable, the Company has agreed to issue 1,000,000 common shares at a deemed price of $0.05. Completion of the settlement remains subject to the approval of the TSX Venture Exchange. The common shares issued in connection with the settlement will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws.
Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company's primary focus is on its 100%-owned, Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the McKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
info@nexusgoldcorp.com www.nexusgoldcorp.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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") is pleased to report the results of its annual general and special meeting of shareholders, which was held today on a hybrid basis. All the nominees listed in the Corporation's management proxy circular dated May 30, 2022, were re-elected as directors.
Shareholders holding 53,106,180 shares, or 33.04% of TomaGold's issued and outstanding shares were present or represented by proxy at the meeting.
Detailed results of the vote for the election of directors are set out below:
At the meeting, the shareholders also approved resolutions regarding:
About TomaGold TomaGold Corporation (TSXV: LOT) is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.
Contact: David Grondin President and Chief Executive Officer (514) 583-3490 www.tomagoldcorp.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 news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation's control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
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