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Core Assets Expands Blue Property to District Scale Land Package

VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(Frankfurt:5RJ)(WKN:A2QCCU)(OTCQB:CCOOF)…

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VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(Frankfurt:5RJ)(WKN:A2QCCU)(OTCQB:CCOOF) is pleased to announce that it has increased its mineral claim holdings by staking at the Blue Property (the "Property") located in the Atlin Mining District of British Columbia.

Highlights

  • As a result of encouraging visual observations (see Figure 2 below of classic carbonate replacement mineralization seen at the Property) during phase one and two exploration programs, Core Assets decided to increase its land package substantially from 26,080 ha (~260.8 km²) to 108,337 ha (~1,083 km²) (see Figure 1 below for map) making it one of the largest mineral claim holders in the Atlin Mining Camp.
  • Core Assets technical team has determined that much of the newly receded glaciated terrain of southwest Atlin Lake is virtually unexplored and government mapped limestone bodies (the favourable host for carbonate replacement mineralization) are far more extensive in the area than mapped in the 1950's.
  • Field observations have determined that the permeability and porosity of the limestone bodies in the area are favourable for allowing transportation of mineralized carbonate replacement fluids.
  • The CRD-Porphyry exploration model that is guiding Core Assets exploration plan has seen incremental advancements in understanding globally since the last exploration campaigns of the 1980's. Core's technical team has leveraged its knowledge of this in an area of newly deglaciated terrain where there is no documented historical exploration.
  • Results from the phase one sampling program are expected by late September 2021. Samples from the phase one program of presumed altered granitic rocks surrounding the carbonate replacement mineralization have been submitted to a lab for petrographic analysis and are expected to be returned later this year.

Core Assets' President and CEO Nick Rodway comments, "It's very common for multiple carbonate replacement style deposits to form along vast amounts of land straddling the Pacific Western margins of North, Central and South America. Based upon preliminary visual observations of mineralization at the property, we decided to consolidate the areas of newly exposed bedrock and turn Core Assets into a district scale explorer of the prolific Atlin Mining District."

Figure 1: Map showing increased land package at the Blue Property

Figure 2: Photo of classic carbonate replacement mineralization seen at the Blue Property near glacier edge. Core Assets has now delineated more than 100 massive sulfide occurrences on the property. The CRD-Porphyry model suggests that all mineralization could potentially be linked in the subsurface and continuous all the way back to the source (Sample 152331).

About the Expansion of the Blue Property

As a result of encouraging visual field observations (see photo of classic example of CRD mineralization at the Property above) during phase one and two exploration programs, Core Assets decided to increase its land package substantially from 26,080 ha (~260.8 km²) to 108,337 ha (~1,083 km²) making it one of the largest mineral claim holders in the Atlin Mining Camp (see Figure 1 area map above). Core Assets technical team has determined that much of the newly receded glaciers of southwest Atlin Lake are virtually unexplored and the Geological Society of Canada mapped limestone bodies (the favourable host for carbonate replacement mineralization) are determined to be far more extensive in the area then mapped in the 1950's. Observations made by Core Assets' technical team have determined that the permeability and porosity of the limestone bodies in the area are favourable for allowing transportation of mineralized carbonate replacement fluids to surface.

The CRD-Porphyry exploration model that is guiding Core Assets exploration plan wasn't developed until after the last exploration campaigns on the east side of the Property and this model has seen incremental advancements and success since the last exploration campaigns of the 1980's.Core's technical team has leveraged its "boots on the ground" interpretations in areas of newly exposed bedrock where there is no documented historical exploration to increase its potential for multiple discoveries.

Core Assets expects to have results from its phase one sampling program in late September 2021. During the phase one program, the Core Assets team also collected 18 samples of altered granitic rock units to prepare for petrography. The samples will be cut into thin sections and analysed at a lab under a petrographic microscope to determine alteration assemblages. This will help Core Assets vector towards a potential porphyry source, which may be responsible for the significant surficial mineralization seen at surface. The analysis results are expected to be returned later this year.

About the Blue Property

The Blue Property consists of two main historical high grade mineral prospects (‘Laverdiere' and ‘Silver Lime') in a total contiguous land package of approximately 108,337 ha (~1,083 km²). The project is located 48 km southwest of the town of Atlin, British Columbia. In 2018, the Company sent a geological team to the Blue Property for preliminary surface sampling. Three areas of skarn exposure with massive and disseminated sulfide were observed along the western side of the Llewellyn Fault Zone, known as the Laverdiere Prospect. A total of 28 grab samples were collected and sent for analysis with values of up to 8.46% copper, 1.57 g/t gold and 46.5 g/t silver reported.

The Silver Lime Prospect is located just 10 km southwest of the Laverdiere Prospect, and encompasses two significant historical mineral occurrences, the Falcon and Jackie showings. The Falcon showing was discovered by Carmac Resources in 1990 and consists of several northwest trending limestone beds and the Jackie showing consists of a series of altered quartz veins. Mineralization often consists of galena, sphalerite, pyrite, chalcopyrite, arsenopyrite and stibnite. The system is exposed in multiple areas on the property with one more significant outcrop that is visible for 25 metres with strike extensions covered by talus. Individual mineralization can be seen up to 2.2 metres wide. To the northwest, a quartz-feldspar

porphyry breccia contains smaller quartz veins with semi-massive arsenopyrite and stibnite. Sample 88339 taken from a 2.20 metre vein system assayed 3.3 g/t gold, 2,641 g/t silver, 0.15% copper, 2.5% lead and 3.32% zinc, 5.0% arsenic and 2.56% antimony (ARIS 21162*).

In 2018, Zimtu Capital Corp., as part of a helicopter reconnaissance program, prospected the Silver Lime Prospect and collected 8 samples. The results confirmed the historic work of Carmac (1990), having returned values of 1.16 g/t gold, 913 g/t silver, 12.45% zinc and >20.0% lead.

The Silver Lime Prospect has the potential to represent a carbonate replacement deposit model (CRD). Massive sulphide mineralization occurs in limestone and biotite-muscovite-sericite schists near the contacts between the units. Large zones of limonite alteration, cut by alaskite and hornblende porphyry dikes, surround these occurrences. The lenses appear to be widest near the porphyry dikes. Several faults follow the general direction of the dikes, suggesting structural control on the mineralization. Sulphides at the Jackie showing often comprise galena, sphalerite, chalcopyrite, pyrrhotite and pyrite. The mineralization can be up to 30 metres long and 6 metres wide. The smaller occurrences host sphalerite and galena mineralization and the larger occurrences vary mineralogically along length. Galena, quartz and calcite dominate the northwest changing to pyrrhotite, chalcopyrite and pyrite in the centre and border areas (Minfile 104M 031*).

The 2021 prospecting and sampling programs have focused on resampling the Silver Lime Prospect and evaluating the newly staked ground by Core Assets Corp. to the west of the prospect to better understand how the mineralization is zoned with regards to the source. (See news release dated June 11, 2021).

National Instrument 43-101 Disclosure

Nicholas Rodway, P.Geo, (Licence # 46541) is President, CEO and Director of the Company, and qualified person as defined by National Instrument 43-101. Mr. Rodway supervised the preparation of the technical information in this news release.

*Historical technical numbers are not compliant with NI 43-101 and are provided as an indication that mineralization is present. Historical information is relied on by the Company only as encouraging further exploration and assessment of the properties. All references listed under Minfile and ARIS can be found at the following British Columbia database links:

Minfile: https://minfile.gov.bc.ca/searchbasic.aspx

ARIS: https://aris.empr.gov.bc.ca/

About Core Assets Corp.

Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia., Canada. The company currently holds 100% title ownership in the Blue Property, that covers a land area of ~108,337 ha (~1,083 km²). The project lies within the Atlin Mining District, a well-known gold mining camp. The Property hosts a major structural feature known as The

Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Yukon border down through the property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980's. The LFZ plays an important role in mineralization of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC's Golden Triangle. The company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.

On Behalf of the Board of Directors

CORE ASSETS CORP.

"Nicholas Rodway"
President & CEO
Tel: 604.681.1568

Neither the Canadian Securities Exchange 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.

FORWARD LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include the goals and scope; that the limestone bodies in the area are favourable for allowing transportation of mineralized carbonate replacement fluids; that Core expects to have results from its phase one sampling program in late September 2021; that we can become a district scale explorer; that Core Assets will drill in 2022; that the Blue Property has substantial opportunities for a discovery and development; that work on the Blue Property could potentially lead to a new porphyry/CRD style discovery; and that there may be a commercially viable gold or other mineral deposit on our claims. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.

SOURCE: Core Assets Corp.



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Today’s News

CopperBank Shareholders Overwhelmingly Approve Long Term Incentive Plan at Special Meeting; Leadership Team Additions Announced

VANCAOUVER, BC / ACCESSWIRE / October 15, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK)(OTC PINK:CPPKF)(FRANKFURT:9CP) is…

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VANCAOUVER, BC / ACCESSWIRE / October 15, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK)(OTC PINK:CPPKF)(FRANKFURT:9CP) is pleased to announce that earlier today shareholders of Copperbank voted at the special meeting of shareholders (the "Meeting") to approve the long term incentive plan of the Company (the "LTIP"), as further described in the management information circular of the Company dated September 14, 2021, with approximately 98% of votes cast in favour of the new LTIP. Additionally, the company is pleased to announce key appointments to the senior leadership team.

As previously announced in the Company's September 2, 2021 press release, the board of directors of CopperBank approved grants of 9,650,000 stock options to eligible participants under the LTIP, which grant was subject to the approval of the LTIP by shareholders. The grant, which will be effective as of today's date, permits each holder to purchase one common share of the Company for each option held at a price of $0.40 for a period of three years.

Leadership Team Appointments

The Company is also pleased to announce that Graham Richardson, Thomas Bissig and Zach Allwright will be joining the leadership team as Chief Financial Officer, Vice President of Exploration, and Vice President of Projects and Evaluations, respectively. Paul Harbidge, President and Chief Executive Officer, commented, "I am very excited to welcome Graham, Thomas and Zach to the CopperBank team as we work on advancing our exciting copper projects in the world-class mining districts of Arizona and Nevada. It is a testament to the quality of the projects that we have been able to attract three key senior individuals and I look forward to leveraging their experience and expertise as we work to unlock the value inherent in the CopperBank portfolio."

Mr. Graham Richardson joined the Company on October 15, 2021, as Chief Financial Officer and is a Canadian CPA with over 10 years of finance experience in the mining sector and a proven track record of adapting and partnering with various levels of organizations to achieve desired outcomes. In his most recent role as Senior Director, Finance and Accounting at Fortuna Silver Mines Inc., Mr. Richardson was closely involved in the financial due diligence and integration activities in connection with the acquisition of Roxgold, while also being responsible for the delivery of the quarterly reports and oversight of the finance function and Vancouver Corporate Office. Previously, he was the Assistant Controller, North America at Newmont, following the acquisition of Goldcorp in April 2019. Prior to his role with Newmont, he was the Director, Finance Performance Management at Goldcorp after joining in 2016 and holding progressively senior finance roles within the organization. Mr. Richardson started his career with Deloitte Touche Tohmatsu Limited in their mining practice in Vancouver, and subsequently Melbourne, where he gained diverse experience working with operations across Canada, Australia, USA, Mexico and West Africa. Mr. Richardson has a Bachelor of Commerce in Accounting from the University of British Columbia, Sauder School of Business.

Dr. Thomas Bissig joined the Company on October 1, 2021, as the Vice President of Exploration. Dr. Bissig is a geologist and geochemist with more than 23 years of experience in exploration and applied research on porphyry and epithermal deposit types across the Americas. He most recently worked as a consulting geoscientist providing services ranging in scale from orebody knowledge to regional exploration. From March 2017 to February 2020 he held the position of Director, Geochemistry for Goldcorp/Newmont providing subject matter expertise to exploration teams across the Americas. From 2008 to 2017 he was a senior research associate at the Mineral Deposit Research Unit at the University of British Columbia (Vancouver, Canada) where he was responsible for multiple gold and copper research programs and exploration, focused in the Andes, British Columbia, Nevada and Eastern Europe. Dr. Bissig was also a Professor at the Universidad Catolica del Norte in Antofagasta, Chile from 2004 to 2007 after graduating in 1997 from the Swiss Federal Institute of Technology (ETH) in Zürich with a diploma in Earth Sciences. Dr. Bissig carried out his PhD research at Queen's University in Kingston (Ontario, Canada) on the metallogeny of the El Indio epithermal belt in Chile and Argentina, graduating in 2001.

Mr. Zach Allwright joined the company on October 15, 2021, as the Vice President of Projects and Evaluations. He is a skilled mining professional with 15 years of diversified international experience, specializing in asset optimization and technical evaluations. In his most recent role as Director, North America for Mining Plus Consulting (part of the Byrnecut Group from Australia), he successfully delivered an extensive range of technical studies and asset evaluations in team environments. Notable engagements include the delivery of technical advisory to GT Gold (supporting the subsequent acquisition by Newmont in May 2021), facilitating the mining technical due diligence for Goldcorp culminating in the Newmont/Goldcorp merger in April 2019, leading the transformation of Lac Des Illes mine through the implementation of sub-level caving 2015-2018 and advancing the Pumpkin Hollow (Nevada Copper) project from an optimized concept to first production between 2016 and 2018. Mr. Allwright (P.Eng) holds a Mining Engineering degree from the Western Australian School of Mines and an MBA from Curtin Graduate School of Business.

About CopperBank

CopperBank is a Canadian exploration company focused on advancing two copper projects in The United States of America. The Company trades on the Canadian Securities Exchange under the symbol "CBK".

For additional information please contact:

Paul Harbidge, President and Chief Executive Officer

CopperBank Resources Corp.
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2

Phone: 778-987-2761
E-mail: [email protected]
Website: www.copperbankcorp.com

SOURCE: CopperBank Resources Corp.



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Today’s News

Pure Gold Mining Inc. Closes Previously Announced Non-Brokered Financing of Approximately C$3.47 Million

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION…

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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSXV:PGM LSE:PUR) (“PureGold” or the “Company”) is pleased to announce that it has closed the non-brokered private placement (the “Offering”) announced on October 5, 2021.

Pursuant to the Offering, the Company issued a total of 3,307,619 units of the Company (the “Units”) to AngloGold Ashanti Limited (“AngloGold”) at a price of C$1.05 per Unit, for aggregate gross proceeds of approximately C$3,473,000. The Offering brings AngloGold’s ownership percentage in the Company to 14.96% of the issued and outstanding common shares on a non-diluted basis upon completion of the Offering.

Each Unit consists of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant is transferrable and entitles the holder to acquire one common share of the Company until April 15, 2023, at a price of C$1.36.

Due to its share ownership, AngloGold is considered a “related party” of Pure Gold and, accordingly, the Offering constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 (“MI 61-101”). The Offering was exempt from the minority approval requirement of Section 5.6 and the formal valuation requirement of Section 5.4 of MI 61-101 as neither the fair market value of the Offering, nor the fair market value of the consideration of the Offering, exceeded 25% of Pure Gold’s market capitalization. A material change report in connection with the Offering will be filed less than 21 days before the closing of the Offering. This shorter period was reasonable and necessary in the circumstances as the Company wished to complete the Offering in a timely manner.

The net proceeds received from the Offering will be used to fund the continued ramp up of operations at its 100%-owned PureGold Mine Project located in Red Lake, Ontario, underground drilling and development of the high-grade 8 zone, and for general corporate purposes. The securities issued under the Offering have a hold period of four months and one day from closing, expiring on February 16, 2022.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

ABOUT PURE GOLD MINING INC.

PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

ON BEHALF OF THE BOARD
"Darin Labrenz"
Darin Labrenz, President & CEO

For further information:
Adrian O’Brien
Director, Marketing and Communications
604-809-6890
[email protected]

Forward-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and the expected use of proceeds of the Offering. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. 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 be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.


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Today’s News

Benton and Sokoman Enter into Mutual Participation Agreements Governing Cost Reimbursement Under Their Strategic Exploration Alliance

Thunder Bay, Ontario–(Newsfile Corp. – October 15, 2021) – Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB:…

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Thunder Bay, Ontario--(Newsfile Corp. - October 15, 2021) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") (jointly, "the Companies" or singularly a "Joint Venture Party") are pleased to announce that they have entered into mutual participation agreements (the "Participation Agreements") that govern cost reimbursement between the Companies relating to certain option agreements entered into by each of Benton and Sokoman on behalf of their strategic exploration alliance announced on May 20, 2021. Pursuant to the strategic alliance the Companies agreed to share, on a 50/50 basis, exploration costs and costs associated with the exercise of property options entered into by either party on behalf of the strategic alliance. In cases where one of the Joint Venture Parties enters into an option agreement that requires shares to be issued to a third party optionor the other Joint Venture Party will contribute its 50% of the costs by reimbursing the first company for 50% of the option payments. Where common shares are required to be issued as part of the option payments in order to ensure that the costs are equally divided the monetary value of such shares will be calculated and the Joint Venture Party that did not enter into the option agreement will issue such number of shares to the Joint Venture Party that did enter into the option agreement that have a monetary value equal to 50% of the value of the shares issued by the Joint Venture Party that has entered into the option agreement.

Sokoman and Benton have on behalf of the strategic alliance, each entered into two property option agreements that have previously been announced that are being contributed to the strategic alliance and governed by the Participation Agreements. The Participation Agreements simply formalize and clarify what cash payments and share issuances are required to be made by the Joint Venture Party that did not directly enter into a particular option agreement in order to reimburse the Joint Venture Party that did enter into the option agreement.

  1. Benton Participation Agreement

    1. Sokoman entered into an option agreement that provides it with the right to acquire a 100% interest in a mineral license consisting of seven mineral claims (the "Lewis Option") lying within the Grey River Gold Property. In order to exercise the Lewis Option Sokoman is required to make four cash payments of $10,000 each by June 15, 2024, and issue four tranches of shares of 50,000 each by June 15, 2024 (see Sokoman news release dated July 13, 2021). In accordance with the terms of the Benton Participation Agreement in order to contribute its 50% of the costs of the Lewis Option Benton will, to the extent that Sokoman continues to exercise the Lewis Option, reimburse Sokoman by: a) paying to Sokoman 50% of the cash payments made by Sokoman to exercise the Lewis Option ($20,000); and b) issuing to Sokoman such number of shares of Benton having a value equal to 50% of the value of each tranche of shares Sokoman issues to exercise the Lewis Option (292,208 Benton shares - 100,000 Sokoman shares at a floor price of $0.45 = $45,000 / $0.154 floor price for Benton shares).

    2. Sokoman entered into an option agreement that provides it with the right to acquire a 100% interest (subject to a 1.5% NSR, two-thirds of which may be purchased for $1 million) in three licenses consisting of four mineral claims (the "G2B Option") lying within the Grey River Gold Property. In order to exercise the G2B Option Sokoman is required to make three annual cash payments of $10,000 each and issue three tranches of shares of 50,000 each (see Sokoman news release dated July 13, 2021). In accordance with the terms of the Benton Participation Agreement in order to contribute its 50% of the costs of the G2B Option Benton will, to the extent that Sokoman continues to exercise the G2B Option, reimburse Sokoman by: a) paying to Sokoman 50% of the cash payments made by Sokoman to exercise the G2B Option ($15,000); and b) issuing to Sokoman such number of shares of Benton having a value equal to 50% of the value of each tranche of shares Sokoman issues to exercise the G2B Option (219,156 Benton shares - 75,000 Sokoman shares at a floor price of $0.45 = $33,750 / $0.154 floor price for Benton shares).

  2. Sokoman Participation Agreement

    1. Benton entered into an option agreement that provides it with the right to acquire a 100% interest (subject to a 2% NSR, half of which may be purchased for $1 million) in eleven mineral claims (the "Keats Option") at the Kepenkeck gold project. In order to exercise the Keats Option Benton is required to make the following cash payments and issue the following shares: (i) an initial $10,000 and issue 200,000 shares; (ii) on the first anniversary $20,000 and issue 200,000 shares; (iii) on the second anniversary $20,000 and issue 200,000 shares; and (iv) on the third anniversary $40,000 and issue 400,000 shares (see Benton news release dated May 6, 2021). In accordance with the terms of the Sokoman Participation Agreement in order to contribute its 50% of the costs of the Keats Option Sokoman will, to the extent that Benton continues to exercise the Keats Option, reimburse Benton by: a) paying to Benton 50% of the cash payments made by Benton to exercise the Keats Option ($45,000); and b) issuing to Benton such number of shares of Sokoman having a value equal to 50% of the value of each tranche of shares Benton issues to exercise the Keats Option (171,111 Sokoman shares - 500,000 Benton shares at a floor price of $0.154 = $77,000 / $0.45 floor price for Sokoman shares).

    2. Benton entered into an option agreement that provides it with the right to acquire a 100% interest (subject to a 2% NSR, one-half of which may be purchased for $1 million) in two licenses consisting of thirty mineral claims at Larry's Pond (the "Rogers Option"). In order to exercise the Rogers Option Benton is required to make the following cash payments and issue the following shares: (i) an initial $10,000 and issue 50,000 shares; (ii) on the first anniversary $10,000 and issue 50,000 shares; (iii) on the second anniversary $10,000 and issue 50,000 shares; and (iv) on the third anniversary $30,000 and issue 50,000 shares (see Benton news release dated June 29, 2021). In accordance with the terms of the Sokoman Participation Agreement in order to contribute its 50% of the costs of the Rogers Option Sokoman will, to the extent that Benton continues to exercise the Rogers Option, reimburse Benton by: a) paying to Benton 50% of the cash payments made by Benton to exercise the Rogers Option ($30,000); and b) issuing to Benton such number of shares of Sokoman having a value equal to 50% of the value of each tranche of shares Benton issues to exercise the Rogers Option (34,222 Sokoman shares - 100,000 Benton shares at floor price of $0.154 = $15,400 / $0.45 floor price for Sokoman shares).

  3. For the purposes of paragraph 1 and 2 above: a) the value of Sokoman shares issued or to be issued to exercise the Lewis Option, the G2B Option or shares to be issued under the Sokoman Participation Agreement shall be the share price that is the greater of $0.45 and the 20-day volume weighted average price (the "VWAP") of Sokoman shares prior to the day the Sokoman shares are issued, and b) the value of Benton shares to be issued to exercise the Keats Option, the Rogers Option or shares to be issued under the Benton Participation Agreement shall be the share price that is the greater of $0.154 and the 20-day VWAP of Benton shares prior to the day that Benton shares are issued.

About Benton Resources Inc.

Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option that can be viewed on the company's website. Parties interested in seeking more information about properties available for option can contact Mr. Stares directly.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The company's primary focus is its portfolio of gold projects: Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the recently acquired district-scale Fleur de Lys project in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company also recently entered into a strategic alliance with Benton Resources Inc. through three large-scale joint-venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls independently and through the Benton alliance over 150,000 hectares (>6,000 claims) of land, making the company one of the largest landholders in Newfoundland, Canada's newest and rapidly emerging gold districts. The company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.

CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x 251
Email: [email protected]

Benton Resources Inc.
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: [email protected]

Sokoman Minerals Corp.
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: [email protected]

Website: www.bentonresources.ca, www.sokomanmineralscorp.com
Twitter: @BentonResources, @SokomanMinerals
Facebook: @BentonResourcesBEX, @SokomanMinerals

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Companies' expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Companies' prospects, properties and business detailed elsewhere in the Companies' disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Companies do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Companies' expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99881

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