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LaSalle Goldhawk Zone Extended 200 Metres Southeast by Drilling and 1200 Metres to the Northwest by Prospecting and Returns High Grade Gold Trench Results

Vancouver, British Columbia–(Newsfile Corp. – November 22, 2021) – LaSalle Exploration Corp. (TSXV: LSX) ("LaSalle" or the "Company") is pleased to report…

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Vancouver, British Columbia–(Newsfile Corp. – November 22, 2021) – LaSalle Exploration Corp. (TSXV: LSX) (“LaSalle” or the “Company”) is pleased to report the final results from initial drill and exploration campaign on its 100% owned Radisson Property (“Radisson” or the “Property”) located in the Eeyou Istchee – James Bay Territory, Québec. The results reported today include the remaining five drill holes, 266 grab samples from systematic prospecting aimed at defining strike extensions of the known gold zones and discovering new gold zones, and 42 channel samples from the Goldhawk and Talon Zones.

Highlights:

  • Drilling extends Goldhawk 200 metres southeast with hole LXR21-012 intersecting two, separate mineralized shear zones returning 2.01 g/t gold over 6.00 metres and 3.01 g/t gold over 6.00 metres
  • Prospecting discovers Goldhawk extension 1200 metres northwest with grab samples up to 12.45 g/t and 37.40 g/t gold
  • Talon extended 400 metres southeast with grab samples up to 10.75 g/t gold and a new 045o trending structural corridor, the 45 Zone, with grab samples ranging from 1.29 g/t to 5.12 g/t gold
  • 21 of the 30 channel samples taken at Goldhawk returned reportable gold values ranging from 1.42 g/t to 30.20 g/t over widths ranging from 0.4 to 3.0 metres
  • Eight (8) of the 12 channel samples at Talon returned reportable gold values ranging from 1.03 g/t to 12.48 g/t over 1 to 2 metre widths

“We are extremely pleased by the results of our 2021 campaign at Radisson,” said Ian Campbell, President and CEO of LaSalle. “The Goldhawk Zone continues to return highly encouraging drill intercepts and we have extended the zone an additional 1,200 metres to the northwest by prospecting. We also discovered numerous promising gold showings within the high-grade gold corridor that has now been identified over 2 kilometres on our property and extends for an additional 6 kilometres onto the adjoining Serpent property of Harfang Exploration Inc. We are excited to return to the property this winter for additional drill testing of Goldhawk and for the initial drill test of Talon.”

Maiden Drilling Campaign

The 12-hole, 2,654 metre maiden drill campaign, concluded in August, tested a number of targets on the Property. The Company reported the results of the first 7 holes completed on the Goldhawk and Goldfang targets on October 19, 2021. The remaining 5 holes (Table 1) tested the MM-5, Eli and Wisht targets, as well as a step-out hole on the Goldhawk Zone (Figures 1, 2).

Hole LXR21-012, the final hole drilled in the campaign, extended the Goldhawk Zone 200 metres to the southeast of the previously reported drilling. This hole returned 6.0 metres averaging 2.01 g/t gold from 82.00 to 88.00 metres downhole and 3.01 g/t over 6.0 metres from 186.00 to 192.00 metres downhole. Both zones appear to correlate with mineralization reported in holes LXR21-001, 002 and 003.

Table 1: Drill Core Results

Hole ID From (m) To (m) Interval (m)* Gold (g/t) Target Zone
LXR21-008 No significant results MM-5
LXR21-009 No significant results Eli
LXR21-010 90.00 91.50 1.50 1.57 Eli
LXR21-011 No significant results Wisht
LXR21-012 82.00 88.00 6.00 2.01 Goldhawk
including 82.00 84.00 2.00 2.31
including 86.25 88.00 1.75 4.19
LXR21-012 186.00 192.00 6.00 3.01
including 186.00 189.25 3.25 5.43
Including 188.25 189.25 1.00 10.35

 

Note: lengths represent drill core lengths

Hole LXR21-008 tested the eastern portion of the MM5 airborne electromagnetic (EM) anomaly. This anomaly is related to a 32 metre wide silicate facies iron formation with up to 15% disseminated to semi-massive sulphides. A 25.7 metre wide zone of anomalous copper (0.1 to 0.26%) and nickel (0.1 to 0.8%) was intersected within the iron formation.

Holes LXR21-009 and 010 were drilled 500 metres apart and tested the east-west Eli structure with historic quartz vein grab samples with 16.00 g/t and 25.00 g/t gold. LXR21-010 had a single intersection of 1.5 g/t gold over 1.50 metres in a sheared diorite with weak potassic alteration and <1% pyrite.

The Wisht target with two chargeability anomalies in association with a grab sample of 1.4 g/t gold was tested by hole LXR21-011. Sheared and altered diorite and fuchsitic ultramafics with minor intervals of pegmatite dykes and amphibolite were intersected. Anomalous gold values up to 0.096 g/t gold with disseminated to semi-massive pyrite and pyrrhotite (0.5-5%) and 1-3% quartz veinlets correspond to the chargeability anomalies.

Surface Prospecting (Figure 1)

A total of 266 grab samples were collected during the expanded surface program resulting in several new discoveries. Seventy-two (72) of the 266 samples returned gold assays above 0.10 g/t gold with five samples assaying 10.60 g/t, 10.75 g/t (two), 12.45 g/t and 37.4 g/t gold.

Goldhawk Extension

The Goldhawk Zone was extended 1,200 metres along strike to the northwest of the original discovery. The Goldhawk Extension is defined by several quartz veins up to 1.0 metres wide with up to 5% pyrite hosted in sheared diorite returned 0.53 to 37.4 g/t gold from grab samples over a strike length of 600 metres. These samples have similar metal associations to the Goldhawk Zone, which include silver grades up to 2.7 g/t, anomalous tungsten, molybdenum and lead.

Talon Extension

The newly discovered Talon Zone (August 24, 2021 news release) was extended 400 metres along strike to the southeast. Several quartz veins up to 0.5 metres wide with up to 5% pyrite hosted in sheared diorite returned grab sample assays ranging from 0.52 to 10.75 g/t gold and have a similar metal association to the Talon Zone.

Goldfang

The northwest strike extension of the Goldfang Zone continues to return significant gold results with grab sample assays ranging from 1.06 to 10.75 g/t gold.

45 Zone Discovery

A new 045o trending structural corridor, the 45 Zone, was discovered parallel to the Serpent ultramafic body that returned grab sample assays ranging from 1.29 to 5.12 g/t gold. The 45 Zone exhibits similar metal associations with the Goldfang Extension, and which include silver grades up to 20.60 g/t and up to 0.3`% copper.

Goldhawk Zone Trenching

The Goldhawk Zone occurs within a gold enriched deformation corridor that has been identified over 2 kilometres on Radisson and extends for an additional 6 kilometres onto the adjoining Serpent property of Harfang Exploration Inc. In the Goldhawk area, the zone is up to 300 metres wide, strikes northwest at ~300o and is characterized by multiple, parallel, mineralized shear zones including the Main, North and South Goldhawk shear zones. These contain steeply dipping, deformed quartz veins that vary from a few centimetres up to 2 metres in width, with up to 5% disseminated pyrite, hosted within a strained and altered diorite complex.

Thirty (30) channel samples totaling 62.00 metres (Table 2) were collected over an area measuring 400 metres by 100 metres centred over the area tested by drilling. Twenty-one (21) of the 30 channels returned reportable gold intercepts ranging from 1.42 g/t to 30.20 g/t gold over widths ranging 0.40 metres to 3.00 metres in length. Multiple, high-grade shear zones were sampled with the most significant intervals including 11.85 g/t gold over 2.00 metres (CH3), 20.30 g/t gold over 1.00 metres (CH-24), 30.20 g/t gold over 0.50 metres (CH-19-1), and 30.10 g/t gold over 0.50 metres (CH-16).

Talon Zone Trenching

At the Talon Zone, located 600 metres north of the Goldhawk corridor, 52 samples were collected from 12 channels (Table 2) in two separate, 10 metre wide outcrop exposures. Eight (8) of the 12 channel samples returned reportable gold intercepts ranging from 1.03 to 12.48 g/t gold over 1.00 to 2.00 metre widths. Visible gold was noted in channel sample CH-37, corresponding to 12.48 g/t gold over 1.90 metres. The mineralized shear zone has been identified over a 50-metre strike length that is oriented 290 to 300o.

Table 2: Channel Sample Results

Channel
ID
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Channel
ID
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
GOLDHAWK ZONE
CH-1 1.70 2.95 1.25 2.73 Ch-16 0.50 1.00 0.50 30.10
CH-2 0.00 2.00 2.00 5.73 Ch-17 0.50 1.00 0.50 9.57
CH-3 0.00 2.00 2.00 11.85 Ch-18 0.00 1.00 1.00 2.68
CH-5 0.00 1.50 1.50 2.85 Ch-19 1.50 2.60 1.10 1.78
CH-6 1.00 1.50 0.50 2.89 Ch-19-1 0.00 0.50 0.50 30.20
CH-7 0.00 1.00 1.00 10.14 Ch-20 2.00 2.50 0.50 4.72
Ch-8 2.00 2.50 0.50 5.75 Ch-21 0.50 1.00 0.50 7.72
Ch-9 1.00 2.60 1.60 3.06 Ch-22 1.50 2.00 0.50 25.40
Ch-12 0.00 1.50 1.50 1.98 Ch-23 0.50 0.90 0.40 10.30
Ch-13 1.00 2.00 1.00 13.33 Ch-24 3.50 4.50 1.00 20.30
Ch-14 0.00 3.00 3.00 1.42
No significant values: Ch-4, CH-10, CH-11, CH-15, CH-25, CH-26, CH-27, CH-28, CH-29
TALON ZONE
CH-31 0.00 1.55 1.55 1.03 CH-35 0.60 2.35 1.75 1.06
CH-32 0.00 1.15 1.15 1.54 CH-37 0.00 1.90 1.90 12.48
CH-33 2.18 4.20 2.02 1.11 CH-39 0.45 1.75 1.30 3.66
CH-34 0.00 1.45 1.45 5.47 CH-40 2.95 3.95 1.00 2.98
No significant values: CH-36, CH-38, CH-41, CH-42

 

Note: lengths represent channel sample lengths

Field Work and COVID-19 Protocols

The health and safety of the staff at site, and the communities in which the Company operates, is of paramount importance to LaSalle. All employees and contractors work according to the most recent government protocols on COVID-19 restrictions, which define the measures and constraints to be adopted in order to limit the risks associated with COVID-19, ensuring the health and safety of everyone involved in the exploration programs.

Qualified Person

The technical information in this news release was reviewed and approved by Ian Campbell, P.Geo., President and CEO, LaSalle Exploration Corp., who is a non-independent qualified person for the technical disclosure as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

The core, channel and rock samples reported above were delivered to ALS of Rouyn-Noranda or Sudbury, a certified and accredited laboratory service provider, for sample preparation. Analyses were completed by ALS in Vancouver. All samples were prepared by procedures CRU-31 (crush entire sample to 70% <2mm), PUL-32 (pulverize 1000 grams to 85% <75 microns) and SPL-21 (split 250 grams from the entire sample using a riffle splitter). A 30-gram sub-sample from the 250 gram riffle split was analysed for gold by FA/AA (method Au-AA23), with any samples returning values of 10 g/t gold or higher being re-assayed by FA with a gravimetric finish (method AA-GRA21). All samples were also analysed for 33 elements by 4-acid ICP-AES (method ME-ICP61) and any base metals that returned values of 10,000 ppm or greater were assayed by a 4-acid ore grade (method Cu-OG62). The LaSalle QA/QC protocol includes the regular insertion of certified standards and blanks every ten (10) samples. In addition, ALS routinely inserts certified standards, blanks and pulp duplicate samples. Results of all ALS QA/QC samples are reported to LaSalle.

About LaSalle Exploration Corp.:

LaSalle Exploration Corp.is an exploration company focused on less explored districts of the Abitibi, recognized for mining investment based on mineral potential, policy and success, and the developing Eeyou Itschee-James Bay region in Québec as well as the high-grade gold Blakelock and Egan properties located in northeastern Ontario. LaSalle Exploration Corp. is listed on the TSX Venture Exchange (“TSX-V”) under the symbol “LSX”. Additional information about LaSalle can be found on SEDAR at www.sedar.com and on the Company’s website at www.lasallecorp.com.

On behalf of the Board of Directors

LASALLE EXPLORATION CORP.

“Ian Campbell”
President and Chief Executive Officer
Telephone: (604) 647-3966

Cautionary Note Regarding Forward-Looking Statements and Information

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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.

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Figure 1

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Figure 2

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Kirkland Lake Gold Shareholders Approve Merger of Equals With Agnico Eagle

TORONTO, Nov. 26, 2021 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today…

TORONTO, Nov. 26, 2021 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that at a special meeting of shareholders held earlier today (the “Meeting”), the Company’s shareholders voted in favour of the arrangement resolution (the “Kirkland Arrangement Resolution”) approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company (the “Kirkland Shares”) will be acquired by Agnico Eagle Mines Limited (“Agnico Eagle”) for common shares of Agnico Eagle (the “Agnico Shares”) in a merger of equals for consideration per Kirkland Share equal to 0.7935 of an Agnico Share (the “Arrangement”).

186,840,773 Kirkland Shares, representing approximately 70.85% of the issued and outstanding Kirkland Shares as at the record date, were voted at the Meeting. The Kirkland Arrangement Resolution was approved by 150,681,106 Kirkland Shares or approximately 80.65% of votes cast by Kirkland Lake Gold shareholders either in person or represented by proxy at the Meeting. The report of voting results will be made available under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

In addition to the approval by Kirkland Lake Gold shareholders, Agnico Eagle shareholders approved the issuance of Agnico Shares in connection with the Arrangement at a special meeting of Agnico Eagle shareholders held earlier today.

Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “We are pleased that our shareholders have voted in favor of the merger of equals with Agnico Eagle. Through the merger, we will establish a new leader in the gold industry, with superior performance, significant financial strength, an extensive pipeline of development and exploration projects to support sustainable, low-risk growth and leadership in key areas of Environmental, Social and Governance. We look forward to completing the merger, following receipt of final regulatory approvals, and to moving ahead as the new Agnico Eagle. We believe this will be a company positioned to generate superior long-term returns for shareholders going forward. To our shareholders, thank you for your support; we know it is important to demonstrate the value we can create with Agnico Eagle and are anxious to get started!”

The Arrangement is expected to be completed during the first quarter of 2022, subject to approval by the Ontario Superior Court of Justice, approval of the Australian Foreign Investment Review Board (“FIRB Approval”) and satisfaction or waiver of certain other closing conditions.

For a more detailed description of the Arrangement, readers should review the Company’s joint management information circular with Agnico dated October 29, 2021 and visit https://www.kl.gold/Agnico-Eagle–Kirkland-Lake-Gold-Merger/.

ABOUT KIRKLAND LAKE GOLD LTD.

Kirkland Lake Gold Ltd. Is a low-cost senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of Kirkland Lake Gold is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position, extensive management expertise and an overriding commitment to safe, responsible mining.

FOR FURTHER INFORMATION PLEASE CONTACT

Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: [email protected]

Mark Utting, Senior Vice-President, Investor Relations
Phone: +1 416-840-7884
E-mail: [email protected]

The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Kirkland Lake Gold with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and include information regarding: (i) expectations regarding the consummation of the proposed Arrangement, including the receipt and timing of the final order of the Ontario Superior Court of Justice and FIRB Approval and the conditions associated with such approvals, the ability of the Company and Agnico Eagle to satisfy the other conditions to completion of the Arrangement; (ii) expectations regarding the potential benefits and synergies of the Arrangement, (iii) expectations regarding the combined company’s performance, financial strength, pipeline of development and exploration projects and growth potential; (iv) expectations regarding future exploration, development and growth potential for Kirkland Lake Gold’s and Agnico Eagle’s operations; (v) expectations for other economic, business, and/or competitive factors; and (vi) the Company’s targeted production in 2021

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Kirkland Lake Gold’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Arrangement; the ability to obtain requisite court and regulatory approvals and the satisfaction of other conditions to the consummation of the Arrangement on the proposed terms and schedule; the ability of Kirkland Lake Gold and Agnico Eagle to successfully integrate their respective operations and employees and realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact of the Arrangement on exploration activities; the potential impact of the announcement or consummation of the Arrangement on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Arrangement; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Arrangement. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold with the Canadian securities regulators, including Kirkland Lake Gold’s annual information form, financial statements and related MD&A for the financial year ended December 31, 2020, its interim financial reports and related MD&A for the period ended September 30, 2021 and its joint management information circular dated October 29, 2021 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com and www.sec.gov.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Kirkland Lake Gold does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.





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Sego Continues Drilling at the Southern Gold Zone at the Miner Mountain Project, British Columbia

Vancouver, British Columbia–(Newsfile Corp. – November 26, 2021) – Sego Resources Inc. (TSXV: SGZ) Ticker Symbol ("Sego" or "the Company") wishes to clarify…

Vancouver, British Columbia–(Newsfile Corp. – November 26, 2021) – Sego Resources Inc. (TSXV: SGZ) Ticker Symbol (“Sego” or “the Company”) wishes to clarify that the current drilling program at the Miner Mountain Project has not been disrupted by the tragic flooding that happened in Southern BC. During the heavy rainfall we stopped for 3 days due to muddy roads but they have been graded and maintained since then. Samples are being shipped to the lab and two drill holes remain to be completed. The Company does not anticipate any further delays.

About the Project

Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The property is 2,056 hectares in size and is located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Copper. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band on whose Traditional Territory the Miner Mountain project is situated. Sego has received an Award of Excellence for its reclamation work at Miner Mountain.

For further information please contact:

J. Paul Stevenson, CEO (604) 682-2933

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. No regulatory authority has approved or disapproved the information contained in this news release.

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects re forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.

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Precious Metals

Secova Initiates NI 43-101 Technical Report for the Montauban Site and Announces C$5M in Private Placement

Secova Metals Corp. (CSE:SEK), (CSNX:SEK.CN) has engaged M. Langton to prepare the NI 43-101 Technical Report

 

VANCOUVER, BRITISH COLUMBIA – TheNewswire – November 25, 2021 – Secova Metals Corp. (“Secova” or the “Company”) (CSE:SEK), (CSNX:SEK.CN), (OTC:SEKZF) is pleased to announce the Company has retained John Langton, M.Sc., P. Geo of JPL GeoServices Inc. to produce a  NI-43-101 Technical Report and Mineral Resource Estimate on the Montauban Site project located in the Montauban Mine Property, sector of Notre-Dame-de-Montauban municipality, Quebec (“Montauban” or the “Project”).

 

“The Company is very pleased to engage M. Langton to prepare the NI 43-101 Technical Report and Mineral Resource as he has extensive experience with the Project,” stated Brad Kitchen, President and CEO of Secova.  “John has worked with DNA Canada, the prior owners of the Montauban Project, to build an extensive database and model of the mineralization and prepared the most recent NI 43-101 Technical Report on the Project in March 2019.”

Convertible Debenture Private Placement

The Company announces a non-brokered private placement of unsecured convertible debentures (the “Debentures”) at a price of $1,000 per debenture for gross proceeds of up to $5,000,000 (the “Offering”).  The Offering is expected to close in tranches with the first tranche expected to close on or about December 15, 2021.  The Debentures will pay interest of 10% per annum on a semi-annual basis, payable in cash or common shares of the Company (“Shares”).  The form of interest payment will be at the discretion of Secova with the exception of the first interest payment which will be paid in Shares at a deemed price of $0.20.  The Debentures will mature on the date that is 36 months following the closing date of the Offering (the “Maturity Date”).

The principal amount of the Debentures will be convertible into Shares at a conversion price of $0.25 (the “Conversion Price”) at the option of the holder at any time prior to the close of business on the last business day immediately preceding the Maturity Date.  The Company will have the right to force conversion at the Conversion Price if the Shares trade at a volume weighted average price of $0.50 or greater for 10 consecutive days, for a period that commences after the statutory hold period commences.  

All securities issued in connection with the Offering will be subject to a statutory hold period expiring in accordance with applicable securities legislation.  The net proceeds of the Offering will be used for development of the Company’s Montauban Project and for working capital.

The Company will pay eligible finders a fee (the “Finder’s Fees”) on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (the “CSE”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such 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, accordingly, may not be offered or sold within 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 promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.secova.ca.

About the Company

 

Secova Metals Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City. The Company is proposing to commence operations by the middle of 2022. The Company’s main exploration focus is its 100% ownership of the Eagle River project, which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec. Secova will use its expertise in early-stage exploration to create shareholder value by attempting to prove out the resource in these assets.

 

For more information on Secova Metals Corp. please contact [email protected], Tel: +1 604-803-5229 or visit the website at www.secova.ca for the French version of this news release, past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen. For discussion forum on Secova go to https://t.me/secova.

On Behalf of the Board of Directors,SECOVAMETALS CORP.

“BradKitchen”

Chairman,CEO,andDirector

 

Tel:+1604-803-5229

Email:[email protected]

 

 

Telegram: (https://t.me/secova)

 

This press release contains “forward-looking information” that is based on the Company’s current expectations,estimates,forecasts,andprojections.Thisforward-lookinginformationincludes,amongotherthings,statementswithrespect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or othersimilar words and phrases are intended to identify forward-looking information. Forward-looking information issubject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results,level of activity, performance, or achievements to be materially different from those expressed or implied by suchforwardlooking information.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

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