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Orsu Metals Identified Seven Exploration Targets Based on Final Results of 2021 Geochemical Survey and Started a PEA Work on Sergeevskoe Project

WHITE ROCK, BC / ACCESSWIRE / November 15, 2021 / Orsu Metals Corporation (TSXV:OSU) ("Orsu" or the "Company") is pleased to provide an update on its exploration…

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WHITE ROCK, BC / ACCESSWIRE / November 15, 2021 / Orsu Metals Corporation (TSXV:OSU) (“Orsu” or the “Company”) is pleased to provide an update on its exploration activities at the Sergeevskoe project in Russia.

As previously reported, the Company has completed a geochemical sampling survey. Orsu has now received analytical results for all 2457 soil samples collected from approximately 5.5 square kilometres outside of the resource envelope of the Sergeevskoe licence area and excluding the Karmaevskoe part in the northeast of the licence. The samples were collected along the north-south traverses, spacing 100 m. The distance between the individual sampling sites was 20 m. All samples were collected from 1-2 m depth, using a portable drill to penetrate through the unconsolidated material into the bedrock. This is a principal difference to the historical geochemical survey ever conducted in the area. In several instances, it was not possible to collect soil samples on steep slopes covered by rocks debris and in the areas of permafrost.

The Company received multi-element assays, including gold, silver, and pathfinders. About 42.7% of received assays (1049 results) returned values in excess of 0.1 ppm gold. In 243 samples (9.9%), the gold values exceeded 0.25 ppm. Of these, 41 sample (1.7%) assayed more than 0.5 ppm Au, including nine samples in excess of 1.0 ppm Au. With several samples assaying more than 2 ppm gold, the highest received value is 7.08 ppm Au. The background gold values appear to be very high. Only 35 samples assayed less than 0.01 ppm Au. These results were used to compile a map of gold anomalies (see Figure below).

Figure. Interpretation of the final results of the 2021 geochemical survey, showing extent of the +0.1 ppm Au soil anomalies at the Sergeevskoe licence area. Soil sampling was completed along north-south lines over a 100×20 m grid. Note extrapolation of the anomalies beyond the license boundary is artificially generated by the software used.

The new data clearly outline anomalies that can be grouped into seven exploration targets using 0.1 ppm Au threshold. Many of them were previously unknown in the area due to poor quality of historical surveys and contamination from historical workings.

In the centre of the license area, the Company identified a 1750×450 m Vodorazdelnoe anomaly at the immediate northwestern extension of the gold-quartz stockwork, drilled at Peak Klyuchi and Kozie domains. This anomaly extends towards historically identified veins at the prospect. Farther west along strike, Orsu identified a 1000×430 m Dalnee gold-in-soil anomaly, where some soil samples retuned up to 2.84 ppm Au.

In addition, two gold-in-soil anomalies were identified along the southern boundary of the Sergeevskoe license area. The 1700×250 m Sergeeva anomaly coincides with the historically mapped NNW-trending dyke swarm. In 2019, Orsu drilled two holes at its eastern end and received gold intercepts, but most of this anomaly was never trenched or drilled previously. The 1500×200 m Ust-Borovoe anomaly was never drilled or trenched. However, some grab samples with anomalous gold values were collected historically in scree material.

To the north of Peak Klyuchi, Kozie, and Klyuchi West domains, the new results identified a 1800×350 m NNW-trending group of North Slope anomalies. These were never trenched, and most were never drilled. Only in the westernmost part, one drill fence was completed in the 1960s, with several holes intercepting gold in excess of 1 gramme per ton over first meters in width. Although not compliant to modern quality control standards, Orsu considers them as indicative support for new soil anomalies identified.

In the northern part of the Sergeevskoe licence area, there are two groups of anomalies. The 700×400 m Karmaevskoe West anomaly occurs at the immediate western continuation of the Karmaevskoe Au-Mo vein occurrence. This western area was never drilled or trenched. The 1200×650 m Severnoe group of anomalies was revealed near the historically identified occurrence that was trenched and several holes were drilled in one fence in the 1970s. However, historical results are not available for this target.

The newly identified seven anomalies clearly highlight the targets where the mineralized envelope can be significantly increased, or new resource domains identified.

Dr. Alexander Yakubchuk, Director of Exploration, commented: “Orsu is encouraged with assay results from the 2021 geochemical survey that generated new exploration targets and prove our geological understanding that Sergeevskoe mineralized envelope is just a relatively small portion of the gold-prospective trend and its mineralized envelope can be further grown. The recognized 5.5-km-strike length of new gold anomalies across the Sergeevskoe license area strengthens the mineral potential of the license and fills in the gap in previous knowledge within the 15-km-long gold trend that extends from Klyuchevskoe deposit, in the east, to the Alexandrovskoe deposit and beyond, in the west. The combined known gold endowment of these deposits, including Sergeevskoe area, is more than 13 Moz, 10th largest in Russia.”

Dr. Sergey V Kurzin, Executive Chairman, commented: “These encouraging exploration results indicate the huge upside potential of the Sergeevskoe license area. The Company has now commissioned an updated resource estimate and a preliminary economic assessment report.”

Qualified Person

Alexander Yakubchuk, the Company’s Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed, verified and approved the exploration information disclosures contained in this press release.

All assays were performed at the ALS Global laboratory in Chita (Russia) which is independent from Orsu.

About Orsu Metals Corporation

Orsu Metals Corporation is a mineral exploration and development company. The 90% owned Sergeevskoe gold project located in the Mogocha District of the Zabaikal’skiy Region of the Russian Federation is the focus of Orsu’s activities. Orsu has filed a technical report titled: “NI43-101 Technical Report on the Updated Mineral Resource Estimate for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation” dated effective January 9, 2020 (the “Sergeevskoe Report”) to support the Inferred Mineral Resource of 30.42 million tons, grading 1.45 g/t gold and containing 1.417 Moz gold at a 0.5 g/t gold cut-off grade and US$1,450 per troy ounce of gold, optimized into an open pit constrained by the license boundaries at Sergeevskoe.

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.

Cautionary Statement:

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such information or statements may include, but are not limited to, statements with respect to the results of the geochemical survey. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

For further information, please contact:

Sergei Stefanovich, Managing Director, Orsu Metals Corporation
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
E: [email protected]

SOURCE: Orsu Metals Corporation

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New Break Acquires Gold-Mineralized Esker Claim in Kivalliq Region, Nunavut

Toronto, Ontario–(Newsfile Corp. – December 7, 2021) – New Break Resources Ltd. ("New Break" or the "Company") is pleased to announce that it has acquired…

Toronto, Ontario–(Newsfile Corp. – December 7, 2021) – New Break Resources Ltd. (“New Break” or the “Company”) is pleased to announce that it has acquired the 1,408 hectare, gold-mineralized Esker Claim, adjacent to the Company’s Noomut claims and located on the eastern shore of South Henik Lake in Kivalliq Region, Nunavut, approximately 179 km northwest of Arviat (the “Esker/Noomut Gold Project“). The Esker Claim was staked on-line through the new Nunavut Map Selection System at a cost of $3,285 after it came open for staking and hosts a 1997 drill intercept of 2.35 g/t Au over 70.95 metres, drilled by Comaplex Minerals Corp. (“Comaplex“).

The Esker Claim, which hosts the historical Esker Gold Occurrence, was discovered in 1997 by Comaplex and forms part of the Henik Group, Ennadai-Rankin greenstone belt. Mineralization occurs as major parallel iron-carbonate altered veins in shear stock work zones along contacts with deformed altered gabbros. Mineralized structures occur over 1 km of strike length and are up to 50 metres in width. These structures exhibit a district induced polarization chargeability response. The project is accessible by helicopter or float plane in the summer or by land in the winter using tracked or large tired vehicles.

Comaplex completed seven drill holes in 1997 on the main Esker Gold Zone, for a total of 1,319 metres. Highlights of the program are summarized in the following table (not true widths):

Table 1: Comaplex 1997 Drill Results

Drill Hole Interval
(metres)
From – To (metres) Grade
(g/t Au)
97-13 70.95 10.20 – 81.15 2.35
including 4.80 10.20 – 15.00 14.77
including 12.90 10.20 – 23.10 6.43
including 6.50 66.60 – 73.10 6.41
including 2.50 70.60 – 73.10 12.22
including 3.80 77.35 – 81.15 4.38
and 5.20 121.20 – 126.40 3.91
97-14 0.50 54.50 – 55.00 3.70
97-15 13.27 36.04 – 49.31 8.18
including 5.71 37.02 – 42.73 17.73
and 4.90 55.40 – 60.30 3.63
97-16 1.44 23.43 – 24.87 3.67
and 5.57 46.05 – 51.62 4.00
97-17 3.00 22.50 – 25.50 6.19
and 4.35 67.70 – 72.05 4.29
97-22 0.50 99.40 – 99.90 5.45
97-23 1.10 105.90 – 107.00 9.88
and 5.00 139.10 – 144.10 7.24
including 3.50 139.10 – 142.60 8.83
including 2.00 142.10 – 144.10 12.97
and 3.50 150.72 – 154.22 3.69

 
Table 1 Source: Comaplex Minerals Corp. news release – October 8, 1997

In March 2002, Comaplex entered into an option agreement with Placer Dome (CLA) Limited (“Placer“), whereby Placer could earn up to a 75% interest in the Noomut River Gold Project (the “Noomut Project“), which included the Esker Claim, by spending $8.0 million over a five-year period. Placer incurred $1.85 million in exploration expenditures during the 2002 and 2003 field seasons before dropping the option at the end of 2003.

Drilling was only performed on the Esker Claim during 2002 and included five holes (ES2002-26 to ES-2002-30) for 782 metres. Results included 1.77 g/t Au over 0.8 metres (Hole ES2002-26) and 3.1 g/t Au over 4.15 metres (including 10.28 g/t Au over 1.1 metres) and 1.75 g/t over 1.75 metres (Hole ES2002-27). The drilling program was executed by Comaplex under a management contract with Placer.

In August 2004, Comaplex entered into a new option agreement with Canadian Gold Hunter Corp. (“CGH“), whereby CGH could earn a 70% interest in the Noomut Project by spending $5.0 million over a five-year period, with a first-year exploration commitment of $350,000.

CGH completed a summer 2004 exploration program, which included six holes drilled on the Esker Claim for 1,119 metres. Significant results are summarized in the following table:

Table 2: Canadian Gold Hunter 2004 Drill Results

Table 2 Source: Canadian Gold Hunter Corp. news release – October 24, 2004

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8019/106954_2ba48462a44a9bec_001full.jpg

In February 2005, CGH elected to drop its option on the Noomut Project to “better concentrate efforts on its key active projects”.

Figure 1: Historical Drilling on the Esker Claim
Drill Holes 13, 14, 15, 16, 17, 22 and 23 – Comaplex Minerals Corp. 1997
Drill Holes 26,27, 28, 29 and 30 – Placer Dome (CLA) Limited 2002
Drill Holes 52, 53, 54, 55, 56, 57 – Canadian Gold Hunter Corp. 2004

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/12/7fd88e5c1f4d17739116b2704b3e9b1c.jpg

Figure 1 Source: Canadian Gold Hunter Corp. news release – October 24, 2004

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https://orders.newsfilecorp.com/files/8019/106954_2ba48462a44a9bec_002full.jpg

In 2020, according to information publicly available on the Nunavut Impact Review Board website, a Toronto-based geological consulting company completed ground reconnaissance of the Esker Claim, including locating the drill collars for all 18 drill holes from the 1997, 2002 and 2004 drilling programs and took 18 due diligence samples from mineralized sections of drill core from seven of the drill holes. The public records indicated that the results exhibited good correlation to previous assays. In addition, the records indicated that they collected gold bearing grab samples of greater than 3.0 g/t Au along the entire length of two adjacent zones, including four individual due diligence grab samples that assayed 33.8 g/t Au and 25.6 g/t Au. Next steps include state-of-the-art airborne geophysics and geochemical prospecting.

Michael Farrant, New Break President and Chief Executive Officer commented, “During 2021, New Break has built a portfolio of mineral claims in Kivalliq Region, Nunavut having the potential to host significant gold mineralization. In addition to the acquisition of invaluable historical Nunavut exploration data compiled by Ken Reading and the recent execution of an Inuit Owned Lands Mineral Exploration Agreement with Nunavut Tunngavik Incorporated on the Sundog Project, New Break believes that the addition of the Esker Claim represents a game changer to the Company’s Nunavut gold exploration efforts due to the advanced status of the property supported by impressive historical drill results.”

Mr. Farrant also noted, “New Break’s efforts in Nunavut are further supported by a group of advisors that includes famed Canadian prospector Ken Reading, Gordon Morrison, former President of TMAC Resources Inc. and John Todd, former senior government official in the Northwest Territories and senior advisor to Cumberland Resources Ltd. and Agnico Eagle Mines Limited, in respect of their efforts in Nunavut. Along with the Company’s fully permitted Moray Gold Project located near Alamos Gold‘s Young-Davidson gold mine in the Cadillac-Larder Lake fault zone, south of Timmins, Ontario, New Break has all the pieces in place to seek a successful public listing combined with a concurrent financing. Investors wishing to hear more about our financing plans are encouraged to contact the Company.”

About New Break Resources Ltd.

New Break is a private Canadian mineral exploration and development company with a dual vision for value creation. In northern Ontario, New Break is focused on acquiring highly prospective gold projects in well-established mining camps, within proximity to existing infrastructure, while at the same time, through our prospective land holdings in Nunavut, we provide our shareholders with significant exposure to the vast potential for exploration success in one of the most up and coming regions in Canada for gold exploration and production. These complimentary visions are supported by a highly experienced team of mining professionals committed to placing a premium on Environmental, Social and Corporate Governance, respecting the values and interests of all our stakeholders.

For further information on New Break, please visit www.newbreakresources.ca or contact:

Michael Farrant, President and Chief Executive Officer
Tel: 416-278-4149
[email protected]

No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to comments regarding the timing and expectations for finalizing property agreements, timing and content of upcoming work programs, geological interpretations, receipt of property titles, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains etc. Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties, including factors beyond the Company’s control. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s financial statements and management’s discussion and analysis (the “Filings”), such Filings available upon request.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106954





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West High Yield (W.H.Y.) Resources Ltd. Signs Forward Contract LOI to Sell Magnesium Ore from Record Ridge Deposit

Calgary, Alberta–(Newsfile Corp. – December 7, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased…

Calgary, Alberta–(Newsfile Corp. – December 7, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (“West High Yield” or the “Company“) is pleased to announce that it has signed a letter of intent (the “LOI“) with APG Galaxy Trade and Technology, LLC, a U.S.-based company focused on the acquisition and production of magnesium and other precious metals (“Galaxy“), for the purchase and sale of magnesium serpentine ore (the “Ore“) produced by West High Yield at its Record Ridge magnesium deposit (the “Deposit“) located near Rossland, British Columbia, Canada (the “Transaction“).

The LOI is non-binding as the parties work towards the signing of a binding definitive agreement (the “Definitive Agreement“) in respect of the Transaction. The LOI contemplates Galaxy purchasing a minimum of 200,000 metric tonnes (“Mts“) of the Ore per annum during the term of the Definitive Agreement. The purchase price will be USD$500 per Mt of the Ore during the first three (3) year period of the Definitive Agreement, and shall be subject to adjustment for the remaining term of the Definitive Agreement based on factors including but not limited to production costs and the Consumer Price Index of Canada.

The Transaction is subject to, among other items, standard conditions precedent in favour of each of Galaxy and the Company, individually, including the receipt by the Company of all necessary government and regulatory approvals and permits to extract the Ore from the Deposit. The Company has agreed to an exclusivity period with Galaxy for the sale of the minimum quantity of the Ore until all of its conditions have been waived or satisfied in full, during which it will negotiate exclusively with Galaxy with a view to settling the Definitive Agreement.

The Company will issue a news release updating this information and providing more detail on the parties and finalized terms once the Definitive Agreement has been entered into.

Frank Marasco Jr., President and CEO of West High Yield states: “The Company has been looking for interested and capable partners to purchase the initial mined inventory of our critical mineral rich ore and generate positive cash flow for the Company. We appreciate Galaxy’s magnesium experience and customer demand, and we are pleased to have reached this milestone in advancing our negotiations with Galaxy towards a comprehensive definitive agreement. I consider this LOI as a critical step in building a strategic collaboration with Galaxy for the objective of securing a future market for a range of magnesium products that could be produced from the Record Ridge project.”

Michael North, Board Chairman and CEO of Galaxy, states: “The magnesium serpentine ore controlled by West High Yield in British Columbia is one of the largest and richest verified deposits of its type in the world. Today, Galaxy is pleased to take the first step in a challenging process, intended to deliver this important natural resource from Canada to world markets and meet the requiements of the automotive, aerospace, energy, construction, nutritional, consumer products and pharmaceutical fields. Many industries need lighter, greener, more efficient materials right away, in order to meet climate change and carbon reduction goals. With this Letter of Intent, Galaxy initiates a demanding series of research, engineering and business development strategies that, if successful, may facilitate an efficient supply chain of cost-effective pure magnesium and alloy products for years to come. We look forward to further collaboration between Galaxy and West High Yield.”

About APG Galaxy Trade and Technology, LLC

Galaxy is a direct source of magnesium, from mine to manufacturer, evolutionizing entire industries with light, strong, versatile, durable and energy-efficient magnesium. An international company based in the United States, Galaxy is streamlining global supply chains, offering both standard and custom alloys for unparalleled performance. Galaxy is helping to move the global economy from heavy metals to light metals of the future: clean, green, less carbon-intensive, bending the curve on climate change.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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 OF THIS RELEASE.

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Braveheart Amends Concentrate Offtake Agreement and Stockpile Financing Facility With Ocean Partners

Calgary, Alberta–(Newsfile Corp. – December 7, 2021) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company")…

Calgary, Alberta–(Newsfile Corp. – December 7, 2021) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) (“Braveheart” or the “Company“) is pleased to announce that further to its press releases dated March 13, 2021 and April 21, 2021, the Company has amended the Concentrate Prepayment Agreement to extend the maturity date under the facility to September 30, 2023 or such earlier date if the Company is in default of the conditions under the agreement.

In connection with the amendment, the Company has agreed to grant Ocean Partners 10,000,000 warrants of the Company with each warrant exercisable into a common share of the Company at an exercise price of $0.10 per share until September 30, 2023 or such earlier date if the maturity date under the facility is accelerated due to an event of default under the agreement.

About Braveheart Resources Inc.

Braveheart is a mining company primarily focused on advancing two near-term copper assets in Canada. Braveheart’s main asset is the 100% owned Bull River Mine project (>85MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart’s newest acquisition is the 100% owned Thierry Mine project (>1,300MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.

Contact Information

Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: [email protected]
Website: www.braveheartresources.com

For more investor information, please contact Braveheart at:

Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E: [email protected]

Caution Regarding Forward-Looking Information

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company’s continuous disclosure record. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

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