OG DNA Genetics Inc. and Generic Gold Corp. Announce Proposed Reverse Takeover

Toronto, Ontario–(Newsfile Corp. – March 25, 2019) –  OG DNA Genetics Inc. (“DNA“), a globally recognized leading cannabis brand, and Generic Gold Corp. (CSE: GGC) (FSE: 1WD) (“Generic Gold“) announced today that they have entered into a letter of intent (the “Letter Agreement“) pursuant to which, among other things, DNA proposes to complete a reverse take-over of Generic Gold (the “Proposed Transaction“) and the securityholders of DNA will hold substantially all of the outstanding securities of Generic Gold following the Proposed Transaction (the “Resulting Issuer“).

“This is an important milestone for DNA, as we continue to expand the breadth and scope of our business from both a product and geographic perspective,” said Charles Phillips, CEO of OG DNA Genetics. “This transaction will help us to further build our brand and take advantage of opportunities to bring our expertise in genetics and high quality standards to new and expanded markets.”

Details of the Proposed Transaction

It is anticipated that the Proposed Transaction will be structured as a three-cornered amalgamation that will result in Generic Gold acquiring all of the issued and outstanding securities of DNA. The final structure for the Proposed Transaction is subject to satisfactory tax, corporate and securities law advice for both Generic Gold and DNA.

Pursuant to the Letter Agreement, and upon the satisfaction or waiver of the conditions set out therein, the following, among other things, will be completed in connection with the consummation of the Proposed Transaction:

  • the execution of a definitive agreement between Generic Gold and DNA and related transaction documents;
  • Generic Gold will continue from the Province of Ontario into the Province of British Columbia and will: (i) effect a capital restructuring (the “Restructuring“) to (A) create a class of proportionate voting or restricted voting shares having the same economic power (on an as-converted basis) as the issued and outstanding common shares (“Generic Gold Shares“), and (B) consolidate the Generic Gold Shares; (ii) approve the adoption of Articles under the Business Corporations Act (British Columbia) which will effect the Restructuring; (iii) change its name; (iv) appoint MNP LLP as auditors of Resulting Issuer; and (v) approve a new equity compensation plan (collectively, all of the foregoing are referred to as the “Shareholder Approval Matters“). Pursuant to the Restructuring, the authorized share capital of the Resulting Issuer will be amended to consist of an unlimited number of common shares and a specified number of proportionate voting or restricted voting shares of the Resulting Issuer, with such rights privileges, restrictions and conditions as may be determined by board of directors of DNA;
  • Generic Gold shall settle its outstanding indebtedness for the purpose of reducing the liabilities of Generic Gold (the “Liability Reduction“), such that immediately prior to closing the Proposed Transaction, the aggregate liabilities of Generic Gold shall be limited to certain expenses incurred in connection with the Proposed Transaction;
  • all outstanding stock options to acquire Generic Gold Shares (the “Generic Gold Stock Options“), common share purchase warrants outstanding to acquire Generic Gold Shares (the “Generic Gold Warrants“) and finder warrants outstanding to acquire Generic Gold Shares and Generic Gold Warrants (the “Generic Gold Finders Warrants“) will be exercised to acquire Generic Gold Shares or will be terminated without any payment of consideration therefor immediately prior to closing the Proposed Transaction;
  • all outstanding common shares of DNA (the “DNA Shares“), common share purchase warrants outstanding to acquire DNA Shares and all securities convertible into DNA Shares shall be exchanged for replacement securities of the Resulting Issuer, one-for-one on a post-consolidation basis, exercisable in accordance with their terms; and
  • the board of directors and management of the Resulting Issuer will be replaced with nominees of DNA.

The Proposed Transaction is subject to the conditions set out in the Letter Agreement, including obtaining the requisite approval of DNA’s and Generic Gold’s securityholders.

Generic Gold has entered into an Option and Right of First Refusal Agreement with Nevada Zinc Corporation (“Nevada Zinc“), dated March 14, 2019, whereby Nevada Zinc may purchase the shares of the company affiliated to Generic Gold that holds Generic Gold’s Yukon properties (see the Company’s press release dated June 29, 2017) (the “Yukon Subsidiary“) during the period ending March 14, 2020 at a cost of $200,000. The purchase price may be paid in either cash or shares of Nevada Zinc at the discretion of the Company. In addition, the Company has a right of first refusal expiring March 14, 2021 with regard to the sale of the Yukon properties owned by Generic Gold or its affiliates. Prior to the closing of the Proposed Transaction, Generic Gold shall also sell all of the issued and outstanding shares in the capital of the Yukon Subsidiary subject to the agreement with Nevada Zinc.

It is anticipated that immediately following the completion of the Proposed Transaction, the only shareholders that will hold greater than 10% of the issued and outstanding shares of the Resulting Issuer will be Don Morris and Aaron Yarkoni, each of whom is anticipated to be a director and senior officer of the Resulting Issuer.

Pursuant to the Proposed Transaction, the Generic Gold securityholders, immediately prior to the completion of the Proposed Transaction and following the Restructuring, will hold 1,000,000 Generic Gold Common Shares, post-consolidation and after the conversion of all outstanding convertible or exchangeable indebtedness and securities, including the Generic Gold Stock Options, the Generic Gold Warrants and the Generic Gold Finder Warrants.

Further details of the Proposed Transaction will be included in subsequent news releases and disclosure documents to be filed by Generic Gold in connection with the Proposed Transaction. It is anticipated that a shareholder meeting of Generic Gold to approve all required matters in connection with the closing of the Proposed Transaction will take place in the second quarter of 2019.

Trading in the Generic Gold Shares was halted by the Canadian Securities Exchange on March 25, 2019. Pending completion of the Proposed Transaction, it is expected that the Generic Gold Shares will remain halted for trading.

Management and Organization

Following the closing of the Proposed Transaction, it is anticipated that the Resulting Issuer will be led by Charles Phillips, Chief Executive Officer, Don Morris, Chief Cannabis Officer and Aaron Yarkoni, Chief Research Officer. The Resulting Issuer’s board of directors (the “Board“) is expected to be comprised of seven representatives, all of whom will be nominated by DNA.

Listing

It is anticipated that Generic Gold will maintain the listing of the Generic Gold Shares on the Canadian Securities Exchange (the “CSE“) following completion of the Proposed Transaction. The Proposed Transaction represents a Fundamental Change as defined in the policies of the CSE, and will be subject to CSE and shareholder approval. Listing of the Resulting Issuer will be subject to CSE approval.

About DNA Genetics

DNA was rooted in Los Angeles and founded in Amsterdam in 2004 by Don Morris and Aaron Yarkoni. Over the last decade, DNA has built and curated a seasoned genetic library and developed proven standard operating procedures for genetic selection, breeding, and cultivation. In a world that is increasingly opening up to commercial cannabis activity, DNA is positioned to become the first, truly geographically-diversified company with multiple partnerships with top-licensed producers and brands that have built their companies and global presence utilizing the “Powered by DNA” model. For more information, please visit www.dnagenetics.com.

About Generic Gold

Generic Gold is a Canadian mineral exploration company focused on gold projects in the Tintina Gold Belt in the Yukon Territory of Canada. The Company’s exploration portfolio consists of nine projects with a total land position of 37,877 hectares, all of which are 100% owned by Generic Gold. For information on the Company’s property portfolio, visit the Company’s website at genericgold.ca.

For further information please contact:

OG DNA Genetics Inc.

Rezwan Khan, Director of Business Development
Rezwan@dnagenetics.com

Generic Gold Corp.

Kelly Malcolm, President, CEO, and Director
Telephone: +1 (647) 299-1153
kmalcolm@genericgold.ca

As noted above, completion of the Proposed Transaction is subject to a number of conditions; however, there can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular of Generic Gold or the listing statement of the Resulting Issuer to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.

Neither the Canadian Securities Exchange nor any securities regulatory authority has in any way passed upon the merits of the Proposed Transaction nor accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Generic Gold’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Generic Gold’s control. Generally, such forward-looking information or forward-looking statements 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 may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the Proposed Transaction, expectations regarding whether the Proposed Transaction will be consummated, including whether conditions to the consummation of the Proposed Transaction will be satisfied, the timing for completing the Proposed Transaction, expectations for the effects of the Proposed Transaction or the ability of the combined company to successfully achieve business objectives, expectations as to economic, business, and/or competitive factors.

By identifying such information and statements in this manner, Generic Gold is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Generic Gold to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Generic Gold has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability to consummate the Proposed Transaction; the ability to obtain requisite regulatory and securityholder approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; 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 Proposed Transaction. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although Generic Gold believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Generic Gold does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to Generic Gold or persons acting on its behalf is expressly qualified in its entirety by this notice.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43650

Advertisements

CanAlaska buys Manibridge Nickel Mine

Past-producing, high-grade nickel mine in the Thompson Nickel Belt, Manitoba; remaining sulphide nickel resources and significant exploration potential

Vancouver, British Columbia–(Newsfile Corp. – March 25, 2019) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (“CanAlaska” or the “Company”) is pleased to report the Company has agreed to purchase 100% of the past-producing Manibridge Nickel Mine in the Thompson Nickel Belt, Manitoba, from Pure Nickel Inc. (“Pure Nickel”). The Thompson Nickel Belt is the fifth largest and third highest grade sulphide nickel belt in the world.

Pursuant to the terms of the agreement, CanAlaska will issue Pure Nickel 300,000 shares and 100,000 2 year warrants exercisable at $0.28/share, and pay $25,000 to obtain 100% ownership of the Manibridge Mine claims totalling 270 hectares (Figure 1). The claims, termed Ore 5 and Ore 6, are subject to retained interests held by Glencore Canada Corporation (“Glencore”) as part of a 2007 purchase agreement entered into between Glencore and Pure Nickel. The retained interest involves a Back-in Right for Glencore to purchase back 50% interest in the claims upon discovery of a NI 43-101 Mineral Resource of 15 million tonnes or greater, a 2% NSR, and off-take and marketing rights for all concentrate or product produced.

The shares and warrants, when issued, will be subject to a hold period expiring four months plus a day after the date of their issuances in compliance with Canadian securities laws. The completion of this purchase is subject to TSX Venture Exchange acceptance.

The Manibridge nickel deposit was discovered in 1963 by Falconbridge (since purchased by Glencore) following up on coincident magnetic and electromagnetic anomalies that were thought to be caused by an ultramafic body. The second hole of the program intersected the fringes of what would become the Manibridge Mine. Sulphide nickel mineralization is hosted within an elongate, folded ultramafic body that extends for at least 3.2 kilometres with nickel-bearing sulphide mineralization throughout (Figure 1). The Manibridge nickel deposit is located within the core of a major fold axis with up to ten sulphide lenses that conform to the fold pattern and plunge to depths in excess of 380 metres.

A production decision was made in 1969 on an initial mineral inventory of 1,409,000 tons (including 15% dilution) at an average grade of 2.25% nickel and 0.27% copper to a depth of 380 metres. The mine was operational from 1971 to 1977 with concentrate shipped to both Sudbury, Ontario and Thompson, Manitoba (Figure 2). Mining occurred to a depth of 300 metres and the mine infrastructure has since been reclaimed.

In 2007, Crowflight Minerals Inc. and Pure Nickel formed a 50-50% joint venture to explore the Manibridge claims. The 2008 exploration program intersected two new zones of nickel mineralization within 400 metres of the Manibridge deposit. Further drilling confirmed the extension of the mineralization below the mine workings. The most significant results from drill holes MN08-01, MN08-02 and MN08-04 respectively include: 16.75 metres (55 feet) @ 1.38% Ni; 5.45 metres (17.9 feet) @ 1.18% Ni; and 6.3 metres (20.7 feet) @ 1.37% Ni.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/43631_c6e4322974ad1adb_001.jpg
Figure 1: Manibridge Mine property and CanAlaska claims: Location map and geology

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/43631_c6e4322974ad1adb_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/43631_c6e4322974ad1adb_002full.jpg

Figure 2: Manibridge Mine circa 1975

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2864/43631_c6e4322974ad1adb_002full.jpg

CanAlaska President, Peter Dasler, comments, “This is a strong addition to our property holdings in this area. Our recent drill program tested one of the targets on the northern extension of the Manibridge mine geology. The drilling intercepted high grade nickel as seen in drill hole 19MB02, with 6.55 metres (21.5 feet) @ 2.39% nickel, 0.14% copper and .03% cobalt. We are starting to notice the geometry of the targets and how they fit with the folded geology and their response to newer geophysical surveys. Since mine closure, the area north of the mine workings has newer (2008) wide spaced discovery holes with 6 to 16 metres (20 to 50 feet) zones with nickel grades over 1.3% Ni, indicating larger scale targets for discovery. The addition of the Manibridge Mine property secures our position in this exciting new discovery area, and provides additional substance for potential partners to rapidly develop with us.”

Pure Nickel’s President and CEO, David Russell, stated, “We believe consolidating the Manibridge Mine claims with CanAlaska’s adjacent claims creates an exploration property with great potential. We look forward to benefitting from the future strength of CanAlaska’s shares and warrants as they continue to develop their uranium assets and build upon recent high-grade intercepts on the Manibridge North claims.”

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 152,000 hectares (375,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr Karl Schimann, P. Geo, CanAlaska director and VP Exploration.

On behalf of the Board of Directors

“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.

Contacts:

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Cory Belyk, COO
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com

Neither 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 information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43631

Pure Nickel Sells Manibridge Property, Manitoba

Toronto, Ontario–(Newsfile Corp. – March 25, 2019) – Pure Nickel Inc. (TSXV: NIC) (the “Company”) announces it has signed an agreement with CanAlaska Uranium Ltd. (“CanAlaska”) for the sale of the Company’s Manibridge Property, Manitoba.

Pursuant to the terms of the agreement CanAlaska will issue the Company 300,000 shares and 100,000 2 year warrants exercisable at $0.28/share, and pay $25,000 to obtain 100% ownership of the Manibridge Property. The completion of the sale is subject to TSX Venture acceptance.

Mr. Russell, Pure Nickel’s President and CEO stated, “We believe consolidating the Manibridge Mine claims with CanAlaska’s adjacent claims creates an exploration property with great potential. We look forward to benefitting from the future strength of CanAlaska’s shares and warrants as they continue to develop their uranium assets and build upon recent high-grade intercepts on the Manibridge North claims.”

About Pure Nickel Inc.

Pure Nickel is a mineral exploration company with a focus on exploration projects in North America.

For further information:
Pure Nickel Inc.
R. David Russell
T. (416) 644-0066
info@purenickel.com
www.purenickel.com

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43638

Ivanhoe Mines files an updated NI 43-101 technical report for the Kamoa-Kakula Copper Project

Vancouver, British Columbia–(Newsfile Corp. – March 22, 2019) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announced today that, further to its news release of February 6, 2019, the company has filed an updated National Instrument 43-101 (NI 43-101) technical report covering the independent pre-feasibility studies for the development of the Kakula and Kansoko copper mines at the Kamoa-Kakula Project in the Democratic Republic of Congo (DRC).

The technical report also includes an updated, expanded preliminary economic assessment for the overall integrated development plan for the Kamoa-Kakula Project.

The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River Global Limited and the DRC government. All figures in the NI 43-101 technical report are on a 100%-project basis unless otherwise stated.

The NI 43-101 technical report was independently prepared by OreWin Pty Ltd. of Adelaide, Australia; Amec Foster Wheeler E&C Services Inc. (a division of Wood PLC) of Reno, USA; SRK Consulting Inc. of Johannesburg, South Africa; KGHM Cuprum R&D Centre Ltd. of Wroclaw, Poland; Stantec Consulting International LLC of Arizona, USA; DRA Global of Johannesburg, South Africa; Golders Associates of Vancouver, Canada and Johannesburg, South Africa; and Epoch Resources (Pty) Ltd. of Johannesburg, South Africa.

The report – titled Kamoa-Kakula Integrated Development Plan 2019 – has been filed on the SEDAR website at www.sedar.com and on the Ivanhoe Mines website at www.ivanhoemines.com.

Information contacts

Investors

Bill Trenaman +1.604.331.9834

Media

North America: Kimberly Lim +1.778.996.8510
South Africa: Jeremy Michaels +27.82.772.1122

Website www.ivanhoemines.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43622

Copper Fox Announces 2019 First Quarter Operating and Financial Results

Calgary, Alberta–(Newsfile Corp. – March 22, 2019) – Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) (“Copper Fox” or the “Company”) is pleased to announce that its unaudited interim consolidated January 31, 2019, financial statements have been filed on SEDAR.

All of the Company’s material subsidiaries are wholly owned, except for District Copper Corp. (“District”) (TSXV: DCOP), of which the Company owns 24.43% of the outstanding common shares as of March 22, 2019. The unaudited interim consolidated financial statements include 100% of the assets and liabilities related to District and include a non-controlling interest representing 60.49% of District’s assets and liabilities not owned by the Company, which was the non-ownership percentage of District by Copper Fox as of January 31, 2019.

For the three months ended January 31, 2019, Copper Fox had a net loss of $195,607 (January 31, 2018 – $213,774) which equated to $0.00 loss per share (January 31, 2018 – $0.00 loss per share).

During the three months ended January 31, 2019, the Company incurred $262,128 in expenditures toward furthering the development of its Schaft Creek, Eaglehead, Van Dyke, Sombrero Butte and Mineral Mountain copper projects. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, the Company’s web site at www.copperfoxmetals.com or by contacting the Company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases. All amounts are expressed in Canadian dollars unless otherwise stated.

Elmer B. Stewart, President and CEO of Copper Fox, stated, “The multi-disciplinary team established by the Schaft Creek Joint Venture (“SCJV”) in 2018 to describe and further characterize several development scenarios for the Schaft Creek deposit will continue its work in 2019. The SCJV plans to strengthen the project management team to complete additional scoping-level engineering and design work based on the 2018 program to assess opportunities associated with a range of development scenarios, the focus of which is to improve financial returns over those outlined in the 2013 Feasibility Study. Positive exploration results from the Mineral Mountain and Van Dyke projects strongly suggest that additional exploration work is warranted on both projects.”

2019 Q1 Highlights

  • The SCJV approved a $2.1 million budget to continue desktop studies, complete a four to six-week field program and strengthen the project management team.
  • Based on the work completed by the SCJV in 2018, additional scoping-level engineering and design work is planned in 2019 to assess opportunities associated with a range of development scenarios, the focus of which is to improve financial returns over those outlined in the 2013 Feasibility Study.
  • The SCJV anticipates a four to six-week field program that includes assessing ground conditions at the proposed process facility and tailings facility locations, formulation of an environmental approach to the project, reinforcing the existing flood protection for the camp, improving the drill-core storage facilities, and other field-related activities as well as ongoing work with the Tahltan Nation.
  • At Mineral Mountain, two large areas of porphyry copper mineralization have been identified and a deep penetrating geophysical survey is planned to survey these areas for chargeability and resistivity anomalies at depth.
  • At Van Dyke, the results of the analytical program to date have returned significantly higher acid soluble copper concentrations over thicker intervals in a number of the holes analyzed to date compared to the mineralized intervals used in the 2014 maiden resource estimate.
  • A mapping and sampling program are planned at Sombrero Butte to better define the correlation between the positive chargeability outlined in 2015 and areas of copper mineralization and alterations.
  • District completed its acquisition of the Stoney Lake East gold project in Newfoundland in February 2019, resulting in the issuances of 40 million shares of District to the Vendors, which reduced Copper Fox’s ownership of District to 24.4%.

Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Company’s non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.

Selected Financial Results

    January 31, 2019     October 31, 2018     July 31, 2018     April 30, 2018  
    3 months ended     3 months ended     3 months ended     3 months ended  
 Loss before taxes $  195,607   $  256,899   $  620,441   $  541,914  
 Net loss / (gain)   195,607     (8,001 )   620,441     541,914  
 Comprehensive loss /(gain)   197,130     226,205     456,739     (47,768 )
 Comprehensive loss /(gain) per share, basic and diluted   0.00     (0.00 )   0.00     (0.00 )
                         
    January 31, 2018     October 31, 2017     July 31, 2017     April 30, 2017  
    3 months ended     3 months ended     3 months ended     3 months ended  
 Loss before taxes $  213,774   $  400,188   $  395,888   $  453,045  
 Net loss   213,774     144,910     395,888     453,045  
 Comprehensive loss /(gain)   787,900     (322,819 )   1,637,337     (220,645 )
 Comprehensive loss /(gain) per share, basic and diluted   0.00     (0.00 )   0.00     (0.00 )

Liquidity

As at January 31, 2019, the Company had $311,789 in cash (October 31, 2018 – $938,311).

About Copper Fox

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox’s other mineral properties and investments visit the Company’s website at http://www.copperfoxmetals.com.

For additional information please contact Lynn Ball at 1-844-464-2820 or 1-403-264-2820.

On behalf of the Board of Directors,

Elmer B. Stewart
President and Chief Executive Officer

Neither 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 Note Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, “forward-looking information”). Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “budgets”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements regarding: strengthening the SCJV project management team; continuing desktop studies; completing additional scoping-level engineering and design work; completing a four to six week field program and the activities within; improving SCJV financial returns over those outlined in the 2013 Feasibility Study; additional exploration work being warranted on both the Mineral Mountain and Van Dyke projects; the interpretation and potential of two large areas of porphyry copper mineralization at Mineral Mountain; significantly higher acid soluble copper concentrations at Van Dyke over thicker intervals than those used in the maiden resource estimate completed in 2014; and a mapping and sampling program is planned at Sombrero Butte.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; the reliability of historical reports; the availability of key personnel; and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Copper Fox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the desktop studies and field work being used to enhance the value of the Schaft Creek project may not produce the desired results or be completed in a timely basis, or at all; additional exploration work may not be warranted on the Mineral Mountain and Van Dyke projects; the two areas of porphyry copper mineralization at Mineral Mountain may not be as indicated; Van Dyke may not have significantly higher acid soluble copper concentrations over thicker intervals than those used in the maiden resource estimate completed in 2014; a mapping and sampling program may not be conducted at Sombrero Butte; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; and uncertainty as to timely availability of permits and other governmental approvals.

A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43628

Advance Gold Starts Phase 3 Drilling at the Tabasquena Project in Zacatecas, Mexico

Vancouver, British Columbia–(Newsfile Corp. – March 22, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce phase 3 drilling is underway at the Tabasquena mine in the state of Zacatecas, Mexico. Two targets are planned to be drilled during this program, one is a near surface target and the other deeper to test the boiling zone of the cluster of epithermal veins drilled in the two earlier phases of drilling.

Highlights of Phase 1 and 2 Drilling

Advance discovered a cluster of epithermal veins through drilling, all but a few of them blind. This suggests drilling intersected the top of the epithermal vein system. From a regional perspective, most of the veins found near the city of Fresnillo, including those found at the Fresnillo Plc. and Mag Silver Juanicipio joint venture are blind.

Often, at the top of an epithermal vein system, anomalous to low grade is expected, which was found in phase 1 and 2 drilling. Also present in the core is milky quartz and amethyst, another important indicator of being at the top of an epithermal vein system. Importantly, crustiform and colloform quartz was encountered which are indicative of a long lived, multiple phase system.

Phase 3 Drilling Plans

Two shallow holes, around 150 metres each, are planned to test the near term production potential in the oxide zone of the Tabasquena vein. In the phase 2 drilling, a 12 metre intersection of the Tabasquena vein in the oxides was hit. This vein in the oxides is much wider than the historical 2-4 metre mining widths utilized by former operator Penoles. This intersection was a 125 metre step out to the north of the old mine workings and is approximately 75 metres along strike from the 100 metre deep shaft and headframe. Advance has mining equipment on site and the Tabasquena project is fully permitted for mining.

A key focus of the phase 3 drilling will be to drill deeper to target the boiling zone of the epithermal vein system. The cluster of veins dip toward a fault which is considered a key structural feature. A proposed deep hole will start from the west side of the fault, drill east, to then go through the cluster of veins to catch them at the boiling zone. This hole is planned for approximately 700-800 metres of depth, based on the well understood model of epithermal veins in the area, this depth should reach the boiling zone.

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “In past drilling, we have been able to hit important milestones drilling at the Tabasquena, with the discovery of a wider portion of the Tabasquena vein in the oxide zone, and the discovery of a cluster of epithermal veins. Our team is excited to test these two important targets. Considering we have a mine permit, and underground workings, plus that many streamers and royalty companies are in need of new projects to deploy their cash, makes the near surface drilling an important drill target. The deep drilling is very exciting as well. Our past drilling has shown we have a large epithermal vein cluster, mineralization of gold and silver, and that it is a long-lived system. Now comes the exciting part, drilling deeper to test for the boiling zone of the system.”

Julio Pinto Linares, Doctor in Geological Sciences with specialty in Economic Geology and Qualified Professional No. 01365 by MMSA is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

About Advance Gold Corp. (TSXV: AAX)

Advance Gold is a TSX-V listed junior exploration company focused on acquiring and exploring mineral properties containing precious metals. The Company acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas state, in April, 2018.

The Tabasquena project is located near the Milagros silver mine near the city of Ojocaliente, Mexico. Benefits at Tabasquena include road access to the claims, power to the claims, a 100-metre underground shaft and underground workings, plus it is a fully permitted mine.

Venaditas is well located adjacent to Teck’s San Nicholas mine, a VMS deposit, and it is approximately 11km to the east of the Tabasquena project, along a paved road.

In addition, Advance Gold holds a 14.53% interest on strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 85.47% of the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold).

For further information, please contact:

Allan Barry Laboucan,
President and CEO
Phone: (604) 505-4753
Email: allan@advancegold.ca

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.

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43615

Clarification of News Release Dated March 21, 2019, “Delrey Announces Signing of Term Sheet on the Four Corners Vanadium-Iron-Titanium Project in Newfoundland”

Vancouver, British Columbia–(Newsfile Corp. – March 22, 2019) – DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC Pink: DLRYF) (“Delrey” or the “Company“) announces that, as a result of a review by the Investment Industry Regulatory Organization of Canada, the Company wishes to clarify certain disclosures made in its previously disseminated March 21, 2019 news release (the “News Release“). Specifically, the Company wishes to clarify that:

  • The Company wishes to retract any and all reference to the “potential excess of 10 billion tonnes of mineralized rock” on the Four Corners project (the “Project“); and
  • In regards to the representative samples quoted in the News Release pertaining to mineralized strike length assays of >40% Fe, 5% Ti, and 0.30% V205 with individual assays returning as high as 56.92% Fe, 15.13% Ti, and 0.39% V205, the Company wishes to state, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) Section 3.3(2), these are “select samples” from the Project and are not “representative” in nature at this time. Further exploration work needs to be done in order to consider these samples as being representative.

All analyses undertaken for Four Corners Mining Corporation/Triple Nine Resources Ltd. and its predecessor prospectors in connection with the Project prior to December 2009 were conducted by Eastern Analytical Ltd. (“Eastern Analytical“) in Springdale, Newfoundland and Labrador. Those performed after December, 2009 were conducted by Activation Laboratories Ltd. (“Act Labs“) of Ancaster, ON.

Scott Dorion, P.Geo., the designated Qualified Person of the Company as defined by NI 43-101, is unable comment on the data verification. No independent verification of the geochemical data, through the submission of duplicates and/or blanks, was carried out on the whole rock samples. Samples were only shipped to and analysed by Eastern Analytical (December 2009 and before) or to Act Labs (from 2010 onward). Data verification for the geophysical survey rests with Atlantic Geophysics and Fugro Airborne Surveys.

About Delrey

Delrey is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties, specifically in the strategic energy minerals space. The Company has an option agreement to purchase a 100% interest in the highly prospective Sunset property located in the Vancouver Mining Division and near Pemberton, British Columbia. The Company has also recently acquired the 6,740 hectare Star and Porcher Vanadium properties and the 2,714 hectare Peneece and Blackie properties located in north-western British Columbia. Delrey will continue to review and acquire projects showing potential for materials used in the energy storage and electric vehicle markets. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “DLRY”.

Qualified person

Scott Dorion, P.Geo., is the designated Qualified Person of the Company as defined by NI 43-101 and has reviewed and approved the technical information contained in this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF
DELREY METALS CORP.

“Morgan Good”

Morgan Good
President and Chief Executive Officer

For more information regarding this news release, please contact:

Morgan Good, CEO and Director
T: 604-620-8904
E: info@delreymetals.com
W: www.delreymetals.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, but are not limited to, general business and economic uncertainties. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

Historical information contained in this news release cannot be relied upon as the Company’s Qualified Person, as defined under NI 43-101 has not prepared nor verified the historical information.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43614