1844 Expands its Native Copper Project to 208 Claims
February 10 2022 - 9:00AM
1844 RESOURCES INC. (TSX-V:EFF) (the
“
Company” or “
1844”) announces
that it has entered into a purchase agreement (the "Agreement") to
acquire a 100% undivided interest in 25 additional claims on its
Native Copper Project from two separate private vendors (each a
“Vendor”).
As consideration, each Vendor will receive
200,000 common shares (400,000 common shares in total) and a 2% net
smelter returns royalty, 1% of which may be retired for a one-time
payment of $500,000.
Additionally, 1844 has stake 70 new cells to the
southwest of the green stone belt, bringing its position to a total
of 208 claims, including 7 known copper showings (see figure):
- Ruisseau Bleu
- T.Nelson 1 and 2
- Fer à Cheval-1
- Ruisseau Cantin
- Riviere St-Jean South
- Route 102 S-W
- Jean-Baptiste Beaudin
About Native Copper: 1844
Resources has 100% undivided interest in 208 claims in the Southern
part of the Gaspé Peninsula, to the North-West of the municipality
of Chandler and Northeast of Port-Daniel. The project now extends
on 98sq/km and 7 known showings are part of the
property.
About 1844 Resources Inc.: 1844
is an exploration company with a focus in strategic and energetic
metals and underexplored regions “Gaspé, Chibougamau Québec”. With
a dedicated management team, the Company’s goal is to create
shareholder value through the discovery of new deposits.
Bernard-Olivier Martel, P. Geo, the Company's
Director of Exploration, is a qualified person (as such term is
defined in National Instrument 43-101 - Standards of Disclosure for
Mineral Projects) and has reviewed and approved the technical
disclosure contained in this news release.
1844 RESOURCES INC.
(signed) “Sylvain
Laberge”
Sylvain Laberge President and
CEO
514.702.9841slaberge@1844resources.com
Some of the statements contained in this press
release are forward-looking statements and information within the
meaning of applicable securities laws. Forward-looking statements
and information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential”, “suggests” or
variations of such words or phrases, or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company’s
control. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
Neither TSX Venture Exchange nor its
Regulations Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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