EDMONTON, ALBERTA – Green River Gold Corp. (the “Company”) is excited to announce that it has purchased the placer rights to 73.96 hectares (the “Property”) along the Swift River approximately 40 kms East of Quesnel B.C. The placer rights straddle the Swift River and have mining permits on each side of the river. This addition brings the Company’s total to 6 permitted, rent ready placer mining projects.
One side of the river has had a small mechanical mining operation on it for the past several years. All of the infrastructure is in place and it is essentially ready to mine.
Green River Gold Corp. has also signed a Letter of Intent with respect to renting a 4-hectare portion on the other side of the river in the 2020 mining season to an independent third-party tenant (operator). A monthly rent will be paid to the Company in exchange for the exclusive right to mine the 4-hectares. The cash rent will be negotiated prior to entering into of the Rental Agreement based on 10% of the expected gold production for the season.
The Company will pay for the Property by a combination of $10,000.00 cash as well as the issuance of 300,000 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.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims. The Company controls a 100% interest in the flagship Fontaine Gold Project. The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.’s proposed mine at its Cariboo Gold Project.
The Company also controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty.
Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and purchases raw placer gold from its facility in the heart of the Cariboo mining district in Quesnel, B.C.
Below is a current map of the Company’s mining claims:
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.
The securities of the company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.