Jazz Resources Inc. announces that the Fully Permitted Vila Nova Gold Project Bulk Sampling Mill has commenced testing

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

 

October 13, 2022 – TheNewswire – Vancouver, British Columbia, Canada – Jazz Resources Inc. (the “Company” or “JZR”) (TSXV:JZR) is pleased to announce that it has been advised by ECO Mining Oil & Gaz Drilling and Exploration EIRELI (“ECO”), its joint venture royalty agreement counterparty and the operator of the Vila Nova Gold Project located in Amapa State, Brazil (the “Vila Nova Project”) that it has completed the 800 tonne per day bulk sampling gravimetric mill (the “Mill”) located at the Vila Nova Project, and that testing of the Mill has commenced.  The Mill was designed, manufactured and assembled by Brastorno Tecnologia em Equipamentos Para Mineracao (“Brastorno”), a Brazilian manufacturer of mineral exploration and mining equipment.

 

The Company has also been advised that the Mill, and the tailings management facility located on the Vila Nova Project, have received final environmental approvals and all requisite permits from the applicable regulatory authorities in Brazil.  ECO has commenced testing of the Mill and it is anticipated that bulk sampling will commence following satisfactory completion thereof.

 

Robert Klenk, Chairman and CEO of JZR commented, “The fulfillment of all permitting conditions and commencement of testing of the Brastorno mill is the culmination of substantial work by the Eco Mining and Brastorno teams.  We believe the Vila Nova Gold Project is a foundational project that will provide continued growth for the Company and ECO”

 

The Company anticipates that the Mill will process 800 tonnes of tailings and bedrock per day once it is brought up to full production, which is anticipated to occur within 30 days from the date hereof.

 

The technical information in this news release has been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), and reviewed and approved by Dr. Stewart A. Jackson, PGeo., a “Qualified Person” under NI 43-101 and independent of the Company.  The Company does not report any resources or reserves on the Vila Nova Project, and has not prepared a preliminary economic assessment for the purposes of proceeding with any bulk sampling on the Vila Nova Project.

 

For further information, please contact:

 

Robert Klenk

Chief Executive Officer

[email protected]

Forward-Looking Statements

This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future.  Forward-looking statements in this news release include statements with respect to the anticipated commencement of operations of the Mill, the planned commencement of bulk sampling and the quantities expected to be processed.   Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements.  Risks that could change or prevent these statements from coming to fruition include, but are not limited to, that ECO may not succeed in bringing the Mill into operation and that the Mill may not operate as anticipated, or at all; that any minerals which may exist on the property comprising the Vila Nova Project may not be economically mined or processed, if at all; that we or ECO may not be able to obtain the necessary permits, or any additional permits, related to the Mill or the Vila Nova Project to enable ECO to explore for, or mine or process minerals; that we may not be able to raise additional or sufficient funds that may be necessary to develop the Vila Nova Project or bring the Mill into full operation and to continue its operation; the availability, or lack thereof, of labour, equipment and markets for our products; and general business, economic, competitive, geopolitical and social uncertainties and regulatory risks.  Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause 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.  Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking statements, except as required by applicable securities laws.

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 press release.

 

None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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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