Fosterville South Exploration Ltd. Changes Name to Great Pacific Gold Corp.
September 19 2023 - 8:30AM
Fosterville South Exploration Ltd. ("Fosterville South" or the
“Company”) (TSXV:FSX) (OTCQX: FSXLF) (Germany: 4TU) is pleased to
announce that it has changed its name from “Fosterville Exploration
Ltd.” to “Great Pacific Gold Corp.” (the “Name Change”). The
Company’s common shares will commence trading on the TSX Venture
Exchange under its new name and new stock symbol
GPAC effective September 21, 2023. The Company’s
new website will be: www.greatpacificgoldcorp.com.
The CUSIP number assigned to the Company's
shares following the name change will be 39115A107. No action will
be required by existing shareholders with respect to the name
change. Certificates representing common shares of under the old
name will not be affected by the name change and will not need to
be exchanged.
The Company anticipates that it will be closing
its acquisition of Wild Dog Resources Inc. (“WDR”) shortly. WDR
owns and/or has the right to earn an interest in three (3) separate
high-grade gold-copper mineral properties located in Papua New
Guinea (“PNG”): the Wild Dog Project, the Arau Project and the
Kesar Creek Project (collectively, the “WDR Properties”) through
Exploration Licenses ("EL") and Exploration License Applications
("ELA").
Under PNG mining law, an application for an EL
(ELA) and a renewal of an EL follows a well established regulatory
process. The process involves an application, a technical
assessment by the MRA, a warden’s hearing (which is a hearing for
stakeholders), a review by the mining advisory council and
ministerial determination. Although the Company anticipates that
the applications and any renewals have and will meet the criteria
set forth under PNG mining law, there is a risk that an ELA or
renewal of an EL will not be granted resulting in the loss of
property rights by the applicant. In addition, WDR will be required
to meet the terms of various earn in agreements on each of its
projects to maintain its interest in the WDR Properties. Details of
each of the WDR Properties and the earn-in obligations are set
forth in the news release dated July 5, 2023.
About Fosterville South
Fosterville South began with two, 100% owned,
high-grade gold projects called the Lauriston and Golden Mountain
Projects, and has since acquired a large area of granted and
application tenements containing further epizonal (low-temperature)
high-grade gold mineralisation called the Providence Project and a
large group of recently consolidated license tenement applications
called the Walhalla Belt Project, which contain a variety of
epizonal and intrusion related style gold mineralisation, all in
the state of Victoria, Australia. The Fosterville South
land package, assembled over a multi-year period, notably includes
a 600 sq. km property immediately to the south of and within the
same geological framework that hosts Kirkland Lake
Gold's Fosterville epizonal gold tenements. Additionally,
Fosterville South has gold-focused projects called the Moormbool
and Tallangallook, which are also located in the state
of Victoria, Australia. Moormbool project has epizonal
style gold mineralisation and Tallangallook has mesozonal and
intrusion relation gold mineralisation.
All of FSX’s properties, with the possible
exception of Moormbool, have had historical gold production from
hard rock sources despite limited modern exploration and
drilling.
Forward-Looking Statements
Information set forth in this news release
contains forward-looking statements that are based on assumptions
as of the date of this news release. These statements reflect
management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance.
Fosterville South cautions that all forward looking statements are
inherently uncertain and that actual performance may be affected by
many material factors, many of which are beyond their respective
control. Such factors include, among other things: risks and
uncertainties relating to Fosterville South's limited operating
history, its exploration and development activities on its mineral
properties and the need to comply with environmental and
governmental regulations. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, Fosterville South does not undertake to
publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release.
For further information: Adam Ross, Investor
Relations, Direct: (604) 229-9445, Toll Free: 1(833) 923-3334,
Email: info@fostervillesouth.com
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