Trading Symbol TSX(V): RMD
Boerse Frankfurt: WKN A1W98A: R52
TORONTO, April 14, 2021 /CNW/ - Richmond Minerals
Inc. (TSX-V: RMD) ("Richmond") is pleased to announce
that it has acquired 6 boundary claims located in Huffman Township
(the "Huffman Property") within the Swayze Greenstone Belt area
approximately 130 km southwest of Timmins, Ontario. The Huffman Property lies
within and is contiguous with the Cote Gold JV Project currently
owned and operated by IAMGOLD (70%) and Sumitomo Metal Mining
Company (30%). Located 7 km east of and on strike with the
historical Jerome Gold Mine,
Richmond's Huffman Property
contains a prospective contact zone between a quartz feldspar
porphyry intrusive unit and Temiskaming-Type clastic
metasedimentary rocks. Leased mining claims previously occupied the
Huffman Property claim area and consequently there are no
historical reports of exploration work.
![Richmond Minerals Inc. Logo (CNW Group/Richmond Minerals Inc.) Richmond Minerals Inc. Logo (CNW Group/Richmond Minerals Inc.)](https://mma.prnewswire.com/media/1488125/Richmond_Minerals_Inc__Richmond_Minerals_Inc__Announces_Property.jpg)
Under the terms of the acquisition agreement, Richmond paid $15,000 cash and issued 100,000 common shares to
the vendor of the Huffman Claims. The vendor will also retain a
0.5% net smelter return. Final approval of the acquisition is
subject to the review and approval of the TSX Venture Exchange.
Additionally, diamond drilling at the Ridley Lake gold project
concluded at the beginning of February and consisted of drilling
six holes totaling 2,227 m that
tested for Aguara Zone western extensions of gold mineralization.
Assay results are pending and further updates will be provided as
soon as the results are available.
Warren Hawkins, P.Eng, a
"Qualified Person", within the meaning of Nation Instrument 43-101-
Standards of Disclosure for Minerals Projects, has reviewed and
approved the scientific and technical information contained in this
news release. Mr. Hawkins is not considered to be "independent" of
the Corporation (as defined in National Instrument 43-101), as he
currently holds securities of the Corporation.
CAUTIONARY STATEMENT: This news release contains forward-looking
information which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. Forward
looking information in this news release includes, but is not
limited to, Richmond's objectives,
goals or future plans, including acquisition of the Huffman
Property and TSX Venture approval. Factors that could cause actual
results to differ materially from such forward-looking information
include, but are not limited to, changes in general economic
conditions and conditions in the financial markets; changes in
demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments, and those risks set out in Richmond's public documents filed on SEDAR.
Although Richmond believes that
the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all.
Richmond disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
other than as required by law.
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Richmond Minerals Inc.