VANCOUVER, British Columbia, Dec. 29, 2020 (GLOBE NEWSWIRE) -- GOLD PLUS MINING INC. (“Gold Plus” or the “Company”) (CSE :GPMI) (OTC: GPMNF) (FSE: 1I3) is pleased to announce that it has entered into an agreement to acquire highly prospective mineral claims (the “Lawyers North Property”) in BC’s famous “Golden Horseshoe” region contiguous to Benchmark Metal’s (BNCH – TSX.V) “Lawyers” Gold and Silver project that recently reported drilling intercepts of 2,360 g/t silver and 11.30 g/t gold over a 1 meter interval as well as 1.44 g/t gold equivalent over 102 meters.
Gold Plus’s new Lawyers North mineral claims cover approximately 7,307 acres (2,957 hectares) and when combined with the Company’s existing Lawyers East and West mineral claims cover a total of approximately 15,957 acres. Both GPMI claim groups are on trend with several mines found in the region, located at the south-eastern side of Benchmarks’ “Lawyers” property, below TDG Gold Corp’s “Baker” Mine and “Shasta” Mine and in line with the “Kemess” Mine further South East that hosts 2.7Moz of gold equivalent. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Properties.
Gold Plus is planning a 2021 exploration program on its three claim blocks that could include an airborne survey to further define magnetic targets as well as the mobilization of crews to conduct a sampling program to test outcrops and soil geochemistry aimed at identifying high priority drill targets.
The Lawyers North showing is located 8.0 kilometres southeast of Edozadelly Mountain, west of Lawyers North and 12.0 kilometres west-southwest of the Lawyers mine (094E 066) (Geological Survey of Canada Paper 81-1A, pages 241-246). The Lawyers North showing lies on the eastern edge of the Sustut Basin. It is composed of mid-Cretaceous to latest Cretaceous nonmarine strata of the Sustut Group. The Sustut Basin is a successor basin to the larger Bowser Basin to the west. The Bowser Lake Group consists of Middle Jurassic to mid-Cretaceous marine and nonmarine strata. Both groups and underlying strata of Stikinia were deformed by northeast-verging folds and thrust faults of the Skeena Fold Belt in Late Jurassic to latest Cretaceous or early Tertiary time (Geological Survey of Canada Paper 92-1A, pages 77-84).
Mid-Cretaceous to latest Cretaceous continental clastic sediments of the Sustut Group are subdivided into the Tango Creek and overlying Brothers Peak formations. The Tango Formation is subdivided into two members; the lower Niven Member and the upper Tatlatui Member. The Brothers Peak Formation is subdivided into the lower Lasuli Member and the upper Spatsizi Member.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6bb831d-d2ae-4d4b-aa6d-d4a10e466c65
The Company has entered into an arm’s length share purchase agreement with 1279810 BC Ltd. (“NumberCo”) and the shareholders of NumberCo (collectively, the “Vendors”), pursuant to which the Company has agreed to acquire all of the issued and outstanding shares of the NumberCo from the Vendors for consideration of 3,300,000 units. Each unit will consist of one common share and one share purchase warrant, each warrant is exercisable into one common share at $0.10 for one year. The agreement is subject to normal course due diligence and applicable regulatory approval.
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About Gold Plus Mining Inc.
Gold Plus Mining is a publicly traded exploration company focused on the development of highly prospective, discovery-stage mineral properties located in some of Canada’s top mining jurisdictions. Our growing portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the prolific “Golden Triangle” and “Osoyoos” districts of British Columbia, the Mineral Rich “Red Lake” mining camp of Northwestern Ontario and the “Chapais-Chibougamau” mining camp, the second largest mining camp in Quebec, Canada.
ON BEHALF OF THE BOARD
CEO & Director
For more information on Gold Plus Mining, please contact:
Mr. Charn Deol – CEO & Director
Corporate e-mail: firstname.lastname@example.org
Corporate Address: 303 – 570 Granville Street, Vancouver, BC, V6C 2P1
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", “potential”, "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the expectation that the Company may commission and deliver a Technical Report, enter into the definitive agreement, exercise the option and acquire the project. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation that: (i) the Company is unable to table the Technical Report within the required timeline; (ii) the Company is unable to enter into the definitive agreement for any reason; and (iii) other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
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