Spearmint Identifies Multiple Sharply Defined Magnetic Anomalies, Including an Anomaly Measuring 9km, on its Chibougamau Vanadium Prospect in Quebec Bordering BlackRock Metals

Vancouver, British Columbia–(Newsfile Corp. – February 1, 2019) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company“) is pleased to announce that further to its news releases dated December 5 & 13, 2018, the Company has received the remainder of the airborne data gathered over the Chibougamau Vanadium Prospect comprising of 13,985 contiguous acres located approximately 12 km east of Chibougamau, Quebec. The airborne data shows the presence of multiple sharply defined areas of northeast trending magnetic susceptibility. (See figure 1)

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Figure 1

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During November and December 2018, the Company commissioned Calgary, Alberta based Earth Scan Technologies Ltd. to complete drone and heli-borne airborne magnetic geophysical surveys totaling 932 line-km over an area totalling approximately 3,400 hectares at 100 metre line-spacing.

The claims in part overlie rocks of the prospective Lac Dore layered anorthosite-gabbro intrusive complex (LCD), which hosts the Black Rock Metals Inc. (Blackrock) development-stage Southwest and Armitage iron-titanium-vanadium (Fe-Ti-V) deposits; in addition to the exploration-stage Vanadiumcorp Resource Inc. (Vanadiumcorp.) and Vanadium One Energy Corp. Lac Dore and Mont Sorcier Fe-Ti-V projects, respectively. Magnetite Fe-Ti-V deposits of the LCD are coincident with a strong positive northeast trending linear magnetic geophysical anomalies within both the northern and southern fold limbs of the Chibougamau Anticline. Mineralization within the adjacent properties is not necessarily indicative of mineralization present with the Company’s Chibougamau Vanadium Prospects.

The results of the Company’s airborne magnetic geophysical survey define an approximately 9 km northeast trending linear magnetic anomaly coincident with the southern margin of the Lac Dore anorthosite on the north arm of the Chibougamau Anticline. A second parallel linear magnetic anomaly occurs in the easternmost area of the claims along the southern limb of the Chibougamau Anticline within rocks regionally mapped as Lac Dore anorthosite.

These and other linear positive linear magnetic anomalies defined by the Company’s airborne geophysical survey warrant ground follow-up to establish the nature of the anomalies, and if they host layered magnetite-bearing anorthosite-gabbro rocks similar to those that within the adjacent Blackrock and Vanadiumcorp Fe-Ti-V deposits.

James Nelson, President of Spearmint, stated “Having already uncovered one potential high priority target to date, we are very encouraged that the remainder of the airborne data shows the existence of further high priority magnetic anomalies, including one that measures 9km in length, throughout our near 14 thousand contiguous acre Chibougamau Vanadium prospect in Quebec bordering BlackRock Metals. A follow up work program is being planned and management is expecting to have crews on the ground shortly to further investigate these magnetic anomalies discovered from the data produced by this inaugural airborne magnetic survey. We are very excited to determine whether our anomalies will be vanadium bearing like that of our neighbour BlackRock metals.”

Spearmint’s Vanadium prospect borders the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project and Vanadium One Energy Corp.’s Mont Sorcier vanadium project. Vanadium has garnered significant market attention recently as the use of vanadium in battery storage is gaining momentum and Spearmint is very pleased to maintain a significant footprint in one of Canada’s best-known vanadium districts. Vanadium has been one of the best performing battery metal over the past two years going from under $5 USD per pound to reaching an all-time high of over $33 USD per pound. On August 21, 2018, the Government of Quebec announced a $248-million investment in the BlackRock Metals Vanadium Project and the development of the Grande-Anse sector with the total project representing investments valued at nearly $1.3 billion and will create more than 800 jobs during the construction of the mine and mill. (Source: News Release from Office of the Deputy Prime Minister, Minister of the Economy, Science and Innovation and Minister responsible for the Digital Agenda, August 21, 2018, 09:30 EST.)

Qualified Persons

Kristopher Raffle P.Geo., Principal, of APEX Geoscience Ltd., a Qualified Person as defined by National Instrument 43-101 reviewed, verified, and compiled the data reported herein specific to the Chibougamau Vanadium Prospects. Mr. Raffle has reviewed and approved the scientific and technical disclosure in this news release.

About Spearmint Resources

Spearmint’s current projects include the ‘Chibougamau Vanadium Prospect’ comprising of 13,985 contiguous acres bordering the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project and Vanadium One Energy Corp. and Spearmint’s ‘Clayton Valley Lithium Prospects’ in Nevada comprising of two claim blocks totaling 800 acres bordering Pure Energy Minerals & Cypress Development Corp.

Spearmint’s current projects also include a portfolio of prospects in the Golden Triangle of British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of six separate claims blocks totalling 9,157 acres bordering GT Gold Corp, the 920 acre ‘NEBA West’ & 6,803 acre ‘NEBA’ Gold-Copper Prospects bordering Aben Resources Ltd, the ‘Henry’ Gold-Copper Prospect consisting of two contiguous claim blocks totalling 1,989 acres in the direct vicinity of Golden Ridge Resources Ltd., and the 21,587 acre ‘EL North’ Nickel-Copper Prospect is a contiguous land package of six claims in the Eskay Creek Camp bordering Garibaldi Resources Corp. Spearmint’s other projects in British Columbia include the ‘Gold Mountain Prospects’ comprising of three separate claim blocks totalling 1,245 acres bordering Barkerville Gold Mines, the ‘Safari’ Copper-Gold Prospect consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC directly bordering Serengeti Resources Inc., and the ‘Hammernose’ Gold Prospect consisting of 5,140 acres directly bordering the strategic alliance between Westhaven Ventures Inc. & Sable Resources Ltd. in the Spences Bridge gold belt located in Southern British Columbia, Canada.

If you would like to be added to Spearmint’s news distribution list, please send your email address to
info@spearmintresources.ca.

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

“James Nelson”
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

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Spacefy moves to global innovation platform

Toronto, Ontario–(Newsfile Corp. – February 1, 2019) –  Spacefy Inc. (CSE: SPFY) (“Spacefy” or the “Company”), the sharing-economy marketplace for inspiring space rentals for the creative industry, announced today that they have relocated their head office after being accepted into the new Toronto location of a well-known global incubator program.

“As we thought about the next phase of growth for our company, and the specific challenges ahead, we had no hesitations about jumping on this opportunity,” said Russ Patterson, Spacefy’s new CEO.

“Working in this environment is already helping us to accelerate. We are surrounded by dozens of other early stage businesses here in our Toronto location, plus we have a larger global network that we can tap into. That should prove extremely helpful as we think about expansion into Europe and beyond. We only moved in a few weeks ago, and the access to additional mentors, advisors, and investors is already paying dividends. And I like what it’s doing for our culture. The sense of urgency here is palpable and infectious. This is exactly what we were hoping to find.”

About Spacefy

Spacefy is a marketplace that connects creative professionals with spaces for their projects, productions, and events. Harnessing the power of the sharing economy, Spacefy gives creative professionals access to unique and underutilized spaces while enabling property owners to further monetize their space.

Contact Information
Spacefy Inc.

Russ Patterson
Chief Executive Officer
russ@spacefy.com

Adelaide Capital Markets Inc.
Deborah Honig
Investor Relations
647-203-8793
deborah@adelaidecapital.ca

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes certain “forward‐looking statements” under applicable Canadian securities legislation. Forward‐looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the subjective statements about the potential impact of Spacefy joining a global innovation platform, or speculative statements about future international expansion. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward‐looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Spacefy Inc. disclaims any intention or obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42593

iCo Therapeutics Inc. Announces Non-Brokered Private Placement to Raise C$750,000

Vancouver, British Columbia–(Newsfile Corp. – January 31, 2019) – iCo Therapeutics Inc. (TSXV: ICO) (OTCQX: ICOTF) (“iCo” or “the Company”) is pleased to announce that it has issued a total of 3,000,000 units (the “Units”) pursuant to the first tranche of a non-brokered private placement (the “Private Placement”). The Company plans to issue up to 15,000,000 Units at a price of $0.05 per Unit for total gross proceeds of $750,000 pursuant to the Private Placement.

Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”) exercisable at $0.075 for 36 months from the date of the closing of the Private Placement. The Warrants are subject to an acceleration clause (the “Acceleration Clause”) that allows the Company to accelerate the expiry date of the Warrants in the event that, at any time after four months from the closing date, the volume weighted average trading price of the Common Shares on the TSX Venture Exchange equals or exceeds $0.14 for ten consecutive trading days, the Warrants will expire on the date that is at least 30 days following the issuance of a press release announcing such acceleration from the Company.

The Company has agreed (i) to pay a cash finder’s fee of 8% of the gross proceeds to the Company raised from subscriptions in the Private Placement from persons introduced to the Company by certain finders and (ii) to issue compensation warrants (the “Finders’ Warrants”) equal to 8% of the Units subscribed for by persons introduced to the Company by certain Finders. Each Finders’ Warrant will entitle the finder to purchase one additional Common Share for a period of 24 months from the closing of the Private Placement at an exercise price of $0.05 per Finders’ Warrant.

The Private Placement is expected to occur in several closings, with the first closing today and concluding on or about February 11, 2019, and is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four month hold period in accordance with applicable Canadian securities laws. There is no material fact or material change regarding iCo that has not been generally disclosed.

The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes.

This press release does not constitute an offer to sell or a solicitation of an offer to sell 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 “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

About iCo Therapeutics

iCo Therapeutics identifies existing development stage assets for use in underserved ocular and infectious diseases. Such assets may exhibit utility in non-ophthalmic conditions outside the Company’s core focus areas and if so the Company will seek to capture further value via partnerships, such as its partnership with Immune Pharmaceuticals, which is in several Phase 2 studies involving iCo-008. iCo shares trade on the TSX Venture Exchange under the symbol “ICO” and on the OTCQB under the symbol “ICOTF”.

For more information, visit the Company website at: www.icotherapeutics.com.

No regulatory authority has approved or disapproved the content of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements

Certain statements included in this press release may be considered “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. Forward-looking statements in this press release include statements relating to the timing and completion of the Private Placement and the use of proceeds therefrom. All forward-looking statements are based on iCo’s current beliefs as well as assumptions made by and information currently available to iCo and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based only on information currently available to iCo and speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by iCo in its public securities filings and on its website, actual events may differ materially from current expectations. iCo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Andrew Rae
Chief Executive Officer
iCo Therapeutics Inc.
rae@icotherapeutics.com
1-778-772-7775 (c)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Khan Resources Announces Name Change to “Cypherpunk Holdings Inc.” and Symbol Change

Toronto, Ontario–(Newsfile Corp. – January 31, 2019) – Khan Resources Inc. (CSE: KRI) (“Khan” or the “Company“) is pleased to announce that it has changed its name to “Cypherpunk Holdings Inc.,” a name which references the important contribution of the Cypherpunks and the Cypherpunk Manifesto to the development and ultimate emergence of cryptocurrencies.

The Company’s common shares are expected to commence trading on the Canadian Securities Exchange under the new symbol “HODL” on or about February 4, 2019.

No action will be required by existing shareholders with respect to the name change. Certificates representing common shares of Khan will not be affected by the name change and will not need to be exchanged. The Company encourages any shareholder with any questions or concerns to contact the Company or to discuss any of the foregoing with their broker or agent.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of making investments in the blockchain and other sectors and enhancing value. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking 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. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Investor Relations Contacts:

Marc Henderson
Khan Resources Inc.
Interim President and Chief Executive Officer
Office: 416.360.3405

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42592

Jiminex Announces Closing of Third Tranche of Private Placement

Toronto, Ontario–(Newsfile Corp. – January 31, 2019) – Jiminex Inc. (“Jiminex” or the “Company“) is pleased to announce the closing of the third tranche of a non-brokered private placement for gross proceeds to $232,000 (the “Offering“) on December 10, 2018, through issuance of 3,866,666 common shares in the share capital of the Company (each, a “Common Share” and collectively, the “Common Shares“) at $0.06 per Common Share. The terms of the Offering remain the same as disclosed in the Company’s news release dated October 22, 2018.

In connection with the closing of this tranche, the Company paid certain eligible persons cash commission of $20,880 and granted 347,999 finder’s and compensation warrants (collectively, the “Warrants“) to acquire Common Shares. The Warrants are exercisable at a price of $0.06 per Common Share for a period of 36 months following the closing date of the Offering.

All of the securities issued in connection with the Offering are subject to a “hold period” of four months plus one day from the date of closing pursuant to applicable securities laws. The Company is hopeful that it may complete one or more additional tranches of the Offering in the near future.

The net proceeds of the Offering will be used by the Company for the payment of general working capital purposes, as well as to advance a bridge loan to Alkaline Spring Inc., as previously disclosed in the Company’s news release of October 22, 2018.

About Jiminex Inc.

Jiminex is a junior mineral exploration company.

For more information, please contact:

Jiminex Inc.

Binyomin Posen, CEO and Director
Telephone: (416) 481.2222 x 246
Email: bposen@plazacapital.ca

Cautionary Statements Regarding Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42590

Miramont Closes Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – January 31, 2019) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that the non-brokered private placement previously announced on January 17, 2019 (the “Private Placement“) was oversubscribed and has now closed. Under the Private Placement, the Company issued an aggregate of 4,716,498 units (“Units“) at a price of $0.35 per Unit for gross proceeds of $1,650,774. Each Unit was comprised of one (1) common share (each, a “Common Share“) in the capital of the Company and one (1) transferrable Common Share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder to purchase one Common Share at a price of $0.50 per Common Share until January 31, 2021. All dollar amounts in this release are expressed in Canadian dollars, unless otherwise stated.

In connection with the Private Placement, the Company paid a total of $28,054 in cash and issued a total of 80,156 Warrants to eligible finders who introduced subscribers to the Private Placement.

All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring June 1, 2019.

The Company intends to use the net proceeds from the Private Placement for its planned drilling and other activities at Cerro Hermoso, advancing the Lukkacha project and general working capital purposes.

About Miramont Resources Corp.

Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4km diameter breccia pipe targeting gold – polymetallic mineralization, while the Lukkacha property is targeting porphyry copper mineralization.

On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.

“William Pincus”

William Pincus, President and CEO

For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontrresources.com
www.miramontresources.com

Reader Advisory

This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42588

Sokoman Reports Final Assays from Phase 2 Drilling and Receives Report on Structural Analysis of the Eastern Trend Moosehead Project, NL

St. John’s, Newfoundland–(Newsfile Corp. – January 31, 2019) – Sokoman Iron Corp. (TSXV: SIC) (‘Sokoman’ or ‘the Company’) is pleased to announce that it has received all outstanding assay results for drill holes completed during the Phase 2 diamond drill program on the high-grade Moosehead Gold Project in north-central Newfoundland. The results are mainly from the Western Trend and historical targets up to 1 kilometre to the north and south of the Western Trend. The results also include assays from infill sampling from MH-18-39, and two holes not previously reported on from the Eastern Trend, MH-18-37 and 40. All core intersections from the Phase 2 drilling that were thought to have intersected high-grade mineralization based on quartz veining and visible gold sightings, were cut and rush assayed in December 2018 with results reported in the December 14, 2018 News Release. The full results are in a table appended to this news release.

The Company is also pleased to announce that the Phase 3 diamond drilling will begin immediately and will focus on targets identified from a preliminary structural evaluation recently completed on the Eastern Trend. While the ice thickness on North Pond is currently not sufficient to support drilling equipment, extensions to the Eastern Trend can be tested by land-based drilling. In the meantime, the Company will continue with efforts to increase ice thicknesses, by flooding, at North Pond.

Eastern Trend Highlights include the intersections below (core lengths reported, true widths vary from 60% to 100% of intersected widths):

  • MH-18-40     14.70m @ 0.98 g/t Au incl., 0.65m @ 13.00 g/t Au
  • MH-18-39     9.05m @ 70.29 g/t Au (incl., 5.10m @ 124.21 g/t Au previously reported)
  • MH-18-37     3.70m @ 0.92 g/t Au incl., 0.70 m @ 2.45 g/t Au

Additional sampling in MH-18-39 immediately up-hole from the previously reported 5.10m high-grade section returned low grade gold values for an additional 3.95m including 1.40m @ 1.34 g/t Au. Sampling immediately downhole from the 5.10 high grade intercept returned only anomalous gold values to a maximum of 94 ppb. The revised intersection is: 9.05m @70.29 g/t Au from 75.45m downhole. Results from holes MH-18-37 and 40 suggest they did not properly intersect the plane of the newly recognized Eastern Trend shear zone.

Structural Analysis – Eastern Trend

In early January, 2019, the Company commissioned an analysis of the structural setting and possible controls of the high-grade, gold bearing system at the Eastern Trend. The preliminary study (final report in progress), was completed by Earth Tectonics Limited, the same firm that completed the 2016 structural report on the Moosehead property for then owner Altius Resources Inc. The 2016 report revealed that high-grade veins in the Western Trend were oriented East-West, nearly parallel to the direction of most of the historical drilling, thus calling into question the value of the earlier drilling. The structural analysis utilizes data from the Company’s 2018 televiewer survey, as well as the examination and relogging of holes recently completed on the Eastern Trend including MH-18-01. The report has identified the following features of the Eastern Trend:

  • The highest-grade intersections (e.g. MH-18-01, 17 and 39) occur in a ductile-brittle Shear Zone of uncertain width which has an overall dip of 50 degrees East and a strike trend of 010 degrees which is largely untested and of unknown strike length and depth extent;
  • The Shear Zone is a large-scale, kilometric, structure of uncertain regional strike trend beyond the small drilled area and with possible links to the regional faults/thrusts bounding the gold district. This may be the most important structure in the local district, and the central axis of the Au system. Strike continuations of this structure are unknown and undrilled. As well as along the strike continuation, the best potential may be at depth where the structure roots into the regional NE striking thrust faults.
  • Gold is occurring in two different styles and geometries of structures which need to be evaluated with carefully oriented drilling of each type;
  • The newly defined local orientation of the shear zone provides an explanation for the distribution of both the high-grade drill intercepts and the lower grade intercepts in the Eastern Trend, with the lower grade intersections drilled either just above or below the shear zone (e.g. MH-18-16, 18, 37, 40);
  • The shear zone has two internal shear and fabric elements, a 20-30 degree East dip and a 50-70 degree East dip, in an overall 45 to 50 degree dipping zone. The internal shear pattern may locally control the Au grade whilst the geometry of the shear sets suggests that structural ore shoots within the plane of the shear zone may be shallow plunging with lower grade zones between them.

Timothy Froude, P. Geo. and President and CEO of Sokoman Iron states; “The 7,643 metre, thirty-five hole, Phase 2 drilling campaign has expanded the footprint of both the Western and Eastern Trends, with key step-outs to the North and South of the Eastern Trend discovery hole, MH-18-01, as well as in the up-dip direction with the zone remaining open. In addition, the preliminary report from Earth Tectonics presents a positive view of the Eastern Trend mineralization and its potential, portions of which can be drilled from the east side of North Pond thus lessening the dependence on an “ice based” platform. The surface projection of the newly defined shear zone lies along the western shoreline of North Pond where previous workers have reported clusters of visible gold bearing quartz float assaying from 19 to 149 g/t Au, supporting the interpreted projection of the shear zone. Land-based drilling will commence immediately and will use the structural report for drill targeting in addition to high priority areas to the south. Once ice conditions are deemed safe, drilling from the ice surface to test other sections of the Eastern Zone will begin using a second rig.”

Western Trend Highlights Include (core thickness):

MH-18-28     2.00m @ 3.34 g/t Au, incl. 0.33m @ 11.76 g/t Au;

MH-18-31     1.40m @ 3.87 g/t Au, incl. 0.40m @ 13.07 g/t Au;

MH-18-32     1.35m @ 17.01 g/t Au, incl. 0.40m @ 38.58 g/t Au;

MH-18-36     5.85m @ 1.12 g/t Au, incl. 0.30m @16.48 g/t Au;

Additional Targets

Phase 2 drilling also resulted in the discovery of a potentially significant new zone of gold mineralization in MH-10-103, located approximately 1 km to the north of the Eastern Trend in the general vicinity of a cluster of historical quartz vein boulders that were drill tested by previous operators in 2002. Historical drill hole MH-02-39 reported an eight metre zone of quartz breccia and veining with assays of 552 ppb Au over 2.3 m* in a broader zone of anomalous gold values. (*Values reported are historical in nature and not verified by Sokoman Iron Corp.) Previously reported MH-18-103, collared 30 metres ahead (west) of MH-02-39, intersected the brecciated zone, but continued beyond the termination of the 2002 drill hole and intersected a second, more strongly mineralized (3-5% pyrite/sphalerite/boulangerite + 1 speck of visible gold) vein zone over a 2.40 m core length, similar in appearance to the Western Trend (true thickness unknown). The interval returned an average grade of 1.01 g/t Au, lower than anticipated, but not unexpected given the nuggety nature of gold mineralization on the property. Additional drilling included two step-out holes MH-18-107 and 109, 25 m to the north and south respectively, of MH-18-103. Both holes intersected only anomalous gold values, however, the Company believes that the source of the high-grade float is local and will consider additional work in the area.

Two holes (MH-18-41 and 42) have been drilled down-dip (25 and 40 m respectively) from historical hole MH-02-34 located 500 m to the south of the Eastern Trend intersections. Historical hole MH-02-34 returned a 5.50 m interval (core length from 67.64 m down-hole) averaging 4.15 g/t Au, including 1.05 m at 18.31 g/t Au* (with 28 total specks of gold reported). MH-18-41 reported 4 specks of visible gold between 91.50 and 93.90 m down-hole and returned a 7.20 m section with two mineralized intervals assaying: 2.29 g/t Au over 0.60 m from 91.05m downhole, and 1.43 g/t Au over 1.10m from 93.70m downhole, again reflecting the unpredictability of visible gold (all core thicknesses, true thickness not known). The company intends to test other property wide high priority targets while evaluating results to date from areas already tested. *Values reported are historical in nature and not verified by Sokoman Iron Corp.

QA/QC

A total of 2148 samples, including duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold and ICP analysis. Samples with possible visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Eastern Analytical is an accredited assay lab that conforms to requirements of ISO/IEC 17025. Total pulp metallic analysis is a result of a whole sample being crushed to -10 mesh and pulverized to 95% -150 mesh. The total sample is then weighed and screened 150 mesh. The +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150 mesh fraction is fire assayed for Au. A calculated weighted average of total Au in the sample is reported as well. The Company included in the sample stream one blank and one industry approved standard for every twenty samples submitted, as well as random duplicates of selected samples. This is in addition to the in-house standard and duplicate policy of Eastern Analytical.

QP

This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and President and CEO of Sokoman Iron Corp.

Drilling services is being provided by the Diamond Drilling Division of Springdale Forest Resources Inc., a diversified natural resources-focused company based in Springdale, NL. The Company would also like to thank the Government of Newfoundland and Labrador for approving the Moosehead Phase 1 Program for 2018 JEA Funding.

About Sokoman Iron Corp.

Sokoman Iron Corp. (TSXV: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. Sokoman’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe/V/REE) project in Western Labrador.

To learn more, please contact:

Timothy Froude, P. Geo.,
President & CEO
709-765-1726
tfroude@sokomaniron.com

Cathy Hume,
Investor Relations
416-868-1079
cathy@chfir.com

Website: www.sokomaniron.com
Twitter: @SokomanIron
Facebook: @SokomanIron

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.

Forward-Looking Statements:

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Iron Corp.

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Table of Results: Phase 2 Diamond Drilling Note: Core length intercepts reported are 50 to 100% of true thickness.

DDH # Dip Depth
m
Target
From
(m)
To
(m)
Core Length (m) Au (g/t) Visible Gold
MH-18-16 -45 331.0 15 m undercut of MH-18-01
55.55 56.05 0.5 1.92



Eastern Trend
67.65 69.90 2.25 1.05





216.40 220.40 4.00 1.34




incl 216.40 217.40 1.00 4.14










MH-18-17 -45 316.0 15 m step-out North of MH-18-01
74.05 74.70 0.65 2.60



Eastern Trend
79.80 82.10 2.30 79.23 Y




incl 80.85 81.35 0.50 332.21 Y





97.00 99.25 2.25 3.61





133.05 157.95 24.90 33.56 Y




incl 140.70 143.70 3.00 41.44 Y




and 153.10 154.50 1.40 59.79 Y




and 156.50 157.95 1.45 278.00 Y










MH-18-18 -53 337.0 undercut of MH-18-17 from same setup
51.65 52.25 0.60 6.53



Eastern Trend
69.60 74.30 4.70 0.60










MH-18-19 -45 316.0 30 m step-out North of MH-18-01
25.00 25.65 0.65 2.39



Eastern Trend
72.75 73.50 0.75 1.03





185.75 187.10 1.35 0.85










MH-18-20 -53 294.0 undercut of MH-18-19 from same setup
12.00 15.00 3.00 0.77



Eastern Trend
67.00 74.15 7.15 3.38




incl 70.25 74.15 3.90 5.60




incl 70.25 72.40 2.15 9.36 Y





216.50 217.50 1.00 1.98










MH-18-21 -45 439.0 45 m stepout North of MH-18-01
141.60 144.10 2.50 0.57



Eastern Trend
267.00 269.65 2.65 2.81




incl 268.00 268.65 0.65 10.70





376.20 376.29 0.09 3.92 Y










MH-18-22 -50 460.0 Undercut of MH-18-21 from same setup
30.20 31.15 0.95 1.22



Eastern Trend
95.80 99.80 4.80 0.57





103.00 108.00 5.00 0.35





380.05 381.40 1.35 1.35










MH-18-23 -45 100.0 Test up and downdip of MH-18-11 and MH-01-16
75.00 76.00 1.00 2.61 Y



Western Trend





DDH # Dip Depth
m
Target
From
(m)
To
(m)
Core Length (m) Au (g/t) Visible Gold
MH-18-24 -45 97.0 Test updip of MH-18-11
57.90 59.60 1.70 1.90 Y



Western Trend















MH-18-25 -45 106.0 Test updip of MH-02-18
20.80 21.80 1.00 1.08



Western Trend















MH-18-26 -45 85.0 Test downdip of MH-18-07, MH-18-06
58.80 60.25 1.45 0.98



Western Trend















MH-18-27 -45 184.0 Test downdip of MH-18-07, MH-18-06
71.20 77.20 6.00 0.59



Western Trend incl 75.20 76.20 1.00 2.40










MH-18-28 -45 140.5 Test downdip of MH-18-04
65.00 67.00 2.00 3.34



Western Trend incl 65.70 66.03 0.33 11.76 Y










MH-18-29 -45 61.0 Test updip of MH-18-10 & 08
14.90 18.15 3.25 1.95



Westerm Trend incl 16.45 17.15 0.70 4.64










MH-18-30 -45 77.0 Test updip of MH-18-08, MH-18-13
45.90 46.40 1.50 4.09



Western Trend















MH-18-31 -45 91.0 Test updip of MH-18-08, MH-18-13
48.20 49.60 1.40 3.87



Western Trend incl 48.20 48.80 0.60 13.07 Y










MH-18-32 -45 175.0 Test downdip of MH-18-13
74.15 75.50 1.35 17.01



Western Trend incl 75.10 75.50 0.40 38.58 Y










MH-18-33 -45 169.0 Test updip of MH-02-30
NSV






Western Trend















MH-18-34 -45 301.0 15 m step out South of MH-18-01
83.20 95.60 12.40 2.76



Eastern Trend incl 93.35 95.60 2.25 9.84 Y




incl 93.95 94.45 0.50 28.90 Y










MH-18-35 -45 91.0 Test for extensions of MH-02-30 & 10
17.40 18.40 1.00 1.49



Western Trend
28.20 30.90 2.70 0.93










MH-18-36 -45 130.0 Test downdip of of MH-02-12
66.25 72.10 5.85 1.12



Western Trend incl 66.70 67.00 0.30 16.48 Y
DDH # Dip Depth
m
Target
From
(m)
To
(m)
Core Length (m) Au (g/t) Visible Gold
MH-18-37 -50 343.0 Undercut of MH-18-34 from same setup
52.65 56.35 3.70 0.92



Eastern Trend incl 54.65 55.35 0.70 2.45










MH-18-38

Hole number not used















MH-18-39 -40 202.0 35 m stepout updip of MH-18-01
75.45 84.50 9.05 70.29 Y



Eastern Trend incl 75.45 79.40 3.95 0.67




and 79.40 84.50 5.10 124.20 Y




incl 81.40 82.50 1.10 550.30 Y










MH-18-40 -40 197.5 15 m stepout updip of MH-18-17
41.20 55.90 14.70 0.98 Y



Eastern Trend incl 55.25 55.90 0.65 13.00










MH-18-41 -45 145.0 Test Historical Hole MH-02-34
87.60 94.80 7.20 0.50




incl 91.05 91.65 0.60 2.29 Y




and 93.70 94.80 1.10 1.43 Y










MH-18-42 -55 187.0 Test Historical Hole MH-02-34
94.30 97.00 2.70 0.52



same setup as MH-18-41 incl 95.50 96.10 0.60 1.13










MH-18-101 -45 361.0 Test Au soil/float 1 km N of East Trend
82.15 94.80 12.65 0.60




incl 83.25 87.50 4.25 1.37




incl 83.25 84.65 1.40 2.98










MH-18-102 -45 256.0 Test Au soil/float 1 km Nof East Trend
NSV













MH-18-103 -45 280.0 Test Au soil/float 1 km Nof East Trend
152.30 154.70 2.40 1.00




incl 153.85 154.40 0.55 2.32










MH-18-104 -45 214.0 Test Discovery Fault 300 m NW of
NSV






Eastern Trend















MH-18-105 -45 220.0 Test Discovery Fault 300 m NW of
NSV






Eastern Trend















MH-18-106 -45 277.0 Test North Pond Fault
83.90 84.60 0.70 1.10





92.40 94.20 1.80 2.85





94.00 94.30 0.20 23.73
DDH # Dip Depth
m
Target
From
(m)
To
(m)
Core Length (m) Au (g/t) Visible Gold
MH-18-107 -45 214.0 25 m stepout N of MH-18-103
NSV



MH-18-108 -45 238.0 Test North Pond Fault
38.20 40.90 2.70 0.77




incl 39.90 40.90 1.00 1.49










MH-18-109 -45 208.0 25 m stepout S of MH-18-103
NSV



 

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