EDMONTON, ALBERTA – Green River Gold Corp. (the “Company”) is pleased to announce that it has entered into an agreement (“Agreement”) with an independent third party to acquire the placer rights to two separate placer gold projects in the vicinity of the Company’s current Fontaine placer gold project (collectively, the “Properties”).
Little Swift Placer Gold Project
The Little Swift placer gold project consists of 15 contiguous claim cells totaling 292.27 hectares, located 7 kilometers west of the Fontaine placer gold project. It lies in the valley of the Little Swift River encompassing the valley floor and the north and south valley walls for a total distance of 4 kilometers. There is historical gold production from within 100 meters of the property of 466 grams produced from 1941 to 1945 (MINFILE 093A 245).
Permit applications have been submitted for a limited production run to determine the economic viability of a large-scale operation, permit approval is expected early spring 2020. The permit application allows for 1.5 hectares of mining area and a production run of 10,000 m3 over a 5-year period.
Sovereign Placer Gold Project
The Sovereign placer gold project consists of 2 contiguous claims totaling 38.96 hectares located 3 kilometers northwest of the Fontaine placer gold project and is partially underlain by the Fontaine mineral properties. The Sovereign placer gold project is within 60 meters of Sovereign Creek.
Permit applications have been submitted and approval is expected early spring 2020. The work program consists of 9 test pits and 4 auger drill sites to determine the gold values in the 13 predetermined target areas identified.
The Company will pay for the Properties by the issuance of 320,000 units of the Company (“Units”) at a deemed value of $0.06 per Unit. Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each full Warrant will be exercisable to acquire one Common Share (a “Warrant Share“) for a period of 24 months following the issue date at an exercise price of $0.10 per Warrant Share.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements relating to the timing for completion of the Annual Filings and other statements that are not historical facts. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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