VANCOUVER, BC, June 24,
2024 /CNW/ - Eskay Mining Corp. ("Eskay")
(TSXV: ESK) (OTCQX: ESKYF) and P2 Gold Inc. ("P2")
(TSXV: PGLD) (OTCQB: PGLDF) (together, the "Companies") report that
exploration crews are mobilizing this week to commence exploration
of the Eskay-Corey Property (the "Property") located in the Golden
Triangle of northwest British Columbia. Eskay and P2 agreed to
a business combination (the "Proposed Transaction") on June 4, 2024 (see the joint Eskay-P2 news release
dated June 4, 2024) and concurrently
signed an exploration services agreement pursuant to which P2
agreed to carry out an exploration program on the Property this
year.
The exploration program will be under the supervision of P2's
Chief Exploration Officer, Ken
McNaughton, who led the team that discovered the Brucejack
Mine, located approximately 10 kilometers to the east of the
Property. Since signing the exploration services agreement, P2 has
been compiling and reviewing the extensive geological and
geophysical data from exploration on the Property over the years.
Phase One activity will focus on ground truthing the data and
developing drill targets for a drill program expected to be
undertaken in Phase Two of this year's program.
"We are looking forward to getting on the Eskay ground as we
have long thought of it as highly prospective for a significant
deposit," commented Ken McNaughton,
Chief Exploration Officer of P2. "We have an experienced team
mobilizing to site that is focused on unlocking the incredible
potential of the property."
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed
company, headquartered in Toronto,
Ontario. Eskay is an exploration company focused on the
exploration and development of precious and base metals along the
Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden
Triangle," 70km northwest of Stewart,
BC. Eskay currently holds mineral tenures in this area
comprised of 177 claims (52,600 hectares).
All material information on Eskay may be found on its website at
www.eskaymining.com and on SEDAR+ at www.sedarplus.com.
About P2 Gold Inc.:
P2 Gold is a mineral exploration and development company focused
on advancing its gold-copper Gabbs Project on the Walker Lane Trend
in Nevada. A positive preliminary economic assessment has
outlined a long-life, mid-size mine at Gabbs with annual
average production of 104,000 ounces gold and 13,500 tonnes copper
over a 14.2 year mine life.
All material information on P2 may be found on its website at
www.p2gold.com and on SEDAR+ at www.sedarplus.com.
This News Release should not be considered a comprehensive
summary of the Proposed Transaction. Additional information will be
disseminated at a future date. Completion of the Proposed
Transaction is subject to a number of conditions including, but not
limited to, TSX Venture Exchange (the "Exchange") approval. The
Proposed Transaction cannot close until the required shareholder
approval is obtained. There can be no assurance that the Proposed
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
Information Circular to be prepared in connection with the Proposed
Transaction, any information released or received with respect to
the Proposed Transaction may not be accurate or complete and should
not be relied upon.
Neither the 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.
Forward Looking Information
This news release contains "forward-looking information" and
"forward-looking statements" (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 involves discussions with respect to
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.
In this news release, forward-looking statements relate to,
among other things, statements regarding: the Proposed Transaction;
the definitive arrangement agreement that the parties anticipate
entering into in connection with the Proposed Transaction; the
receipt of necessary shareholder, court and regulatory approvals
for the Proposed Transaction; the anticipated timeline for
completing the Proposed Transaction; the terms and conditions
pursuant to which the Proposed Transaction will be completed, if at
all; the anticipated benefits of the Proposed Transaction; the
Combined Company; the future financial and operational performance
of the Combined Company; the combined company's exploration and
development programs; and potential future revenue and cost
synergies resulting from the Proposed Transaction. These
forward-looking statements are not guarantees of future results and
involve risks and uncertainties that may cause actual results to
differ materially from the potential results discussed in the
forward-looking statements.
In respect of the forward-looking statements concerning the
Proposed Transaction, including the entering into of the definitive
arrangement agreement, and the anticipated timing for completion of
the Proposed Transaction, Eskay and P2 have relied on certain
assumptions that it believes are reasonable at this time, including
assumptions as to the ability of the parties to receive, in a
timely manner and on satisfactory terms, the necessary regulatory,
court, shareholder, stock exchange and other third party approvals
and the ability of the parties to satisfy, in a timely manner, the
other conditions to the completion of the Proposed Transaction.
This timeline may change for a number of reasons, including
unforeseen delays in preparing meeting materials; inability to
secure necessary regulatory, court, shareholder, stock exchange or
other third-party approvals in the time assumed or the need for
additional time to satisfy the other conditions to the completion
of the Proposed Transaction. Accordingly, readers should not place
undue reliance on the forward-looking statements and information
contained in this news release concerning these times.
Risks and uncertainties that may cause such differences include
but are not limited to: the risk that the Proposed Transaction may
not be completed on a timely basis, if at all; the conditions to
the consummation of the Proposed Transaction may not be satisfied;
the risk that the Proposed Transaction may involve unexpected
costs, liabilities or delays; the possibility that legal
proceedings may be instituted against the Eskay, P2 and/or others
relating to the Proposed Transaction and the outcome of such
proceedings; the possible occurrence of an event, change or other
circumstance that could result in termination of the Proposed
Transaction; risks relating to the failure to obtain necessary
shareholder and court approval; other risks inherent in the
plant-based food industry. Failure to obtain the requisite
approvals, or the failure of the parties to otherwise satisfy the
conditions to or complete the Proposed Transaction, may result in
the Proposed Transaction not being completed on the proposed terms,
or at all. In addition, if the Proposed Transaction is not
completed, the announcement of the Proposed Transaction and the
dedication of substantial resources of Eskay and P2 to the
completion of the Proposed Transaction could have a material
adverse impact on each of Eskay's and P2's share price, its current
business relationships and on the current and future operations,
financial condition, and prospects of each of Eskay and P2.
CONTACT: Mac Balkam, President & Chief Executive
Officer, (416) 907 4020, Mac@eskaymining.com; Joseph Ovsenek, President & CEO, (778)
731-1055, info@p2gold.com; Michelle
Romero, Executive Vice President, (778) 731-1060
View original
content:https://www.prnewswire.com/news-releases/p2-mobilizes-exploration-crews-to-eskay-corey-property-302180266.html
SOURCE P2 Gold Inc.
