Gold Plus Mining Acquires Strategic Mineral Claims Contiguous to Benchmark Metal’s “Lawyers” Gold and Silver Project
December 29 2020 - 8:00PM
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
Acquisition Terms
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.
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www.goldplusmining.com
ON BEHALF OF THE BOARD
___Charn Deol____ CEO &
Director
For more information on Gold Plus
Mining, please contact:
Mr. Charn Deol – CEO & DirectorPhone:
438-896-1451E-mail: charn@goldplusmining.comCorporate e-mail:
info@goldplusmining.com Website: www.goldplusmining.com 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.
Neither Canadian Securities Exchange (CSE) nor
its Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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