Quebec Silica Acquires Additional Claims in Quebec, Canada
Quebec Silica Acquires Additional Claims in
Quebec, Canada
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2021) -
Quebec Silica Resources Corp.
(
CSE: QTZ
)
("
Quebec Silica
" or the "
Company
") is pleased to announce that it has entered into an
agreement with Mr. Eddy Canova to acquire a 100% interest in certain additional mineral claims located
adjacent to its Charlevoix and Roche Blanche Silica Properties in the Lac-Pikauba Municipality of the
Province of Quebec, Canada, approximately 40 km north of Baie-Saint Paul.
The newly acquired claims consist of three contiguous mining claims covering a total area of
approximately 173 hectares and are located between the Company's flagship Charlevoix Property and
the Roche Blanche Property. The addition of the new claims creates a contiguous land package totaling
approximately 923 hectares (Figure 1) which will be referred to as the "Charlevoix Silica Project" going
forward.
The high-grade silica formation, known as the Quartzite du Petit lac Malbaie, is actively mined by
neighbouring operators and is mapped to extend though the Company's Charlevoix Silica Project
property, consisting of the amalgamation of the formerly named Charlevoix Property the Roche Blanche
Property as well as these newly acquired claims.
New Claims
To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/7968/99798_c0b79727e4282b49_002full.jpg
Cautionary Statement: Investors are cautioned that the above information is taken from publicly
available sources, specifically from the Quebec Ministry of Energy and Mines (MERN) database. The
Company has not been able to independently verify the information contained. The information is not
necessarily indicative of the mineralization on the property, which is the subject of this news release.
The Company will need to conduct exploration to confirm historical mineralization reported on the
property. There is no guarantee that significant discoveries will be made as a result of its exploration
efforts.
Transaction Details
Quebec Silica acquired the mineral claims from Mr. Eddy Canova, an arm's length party, pursuant to a
property purchase and sale agreement dated as of October 8, 2021 (the "
Effective Date
"). Under the
agreement, Quebec Silica will acquire its 100% interest in the claims by: (i) paying $5,000; (ii) issuing
50,000 common shares, at a deemed issue price of $0.07, being the closing price of the Company's
shares on the CSE on the Effective Date; and (iii) issuing 50,000 common share purchase warrants,
with each warrant entitling the holder to acquire one additional common share, at an exercise price of
$0.15 per share, for a period of 60 months.
In addition, on the first anniversary of the closing, Quebec
Silica is further obligated to: (i) pay an additional $5,000; (ii) issue an additional 50,000 common shares,
at a deemed issue price of $0.07; and (iii) issue an additional 50,000 warrants upon the same terms
and conditions as those issued at the closing.
Mr. Canova will retain a 1.5% net process royalty (NPR)
from any future commercial production on the claims. Quebec Silica has the right to reduce the 1.5%
NPR to a 0.75% NPR by paying $750,000.
The issuance of the securities is subject to obtaining all required regulatory approvals, including that of
the CSE. The securities shares will be subject to a "hold" period of four months and one day for their
date of issuance.
Eddy Canova, P.Geo., is the QP for Quebec Silica, a "Qualified Person" for National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
has reviewed and approved the scientific and technical
information contained in this news release.
About Quebec Silica Resources Corp.
Quebec Silica is a mineral exploration company focused on the acquisition and exploration of mineral
resource properties with an emphasis on the Charlevoix Silica Property located near Clermont, Quebec,
Canada.
Additional information on Quebec Silica. is available at
www.quebecsilica.com
.
On Behalf of the Board of Directors,
QUEBEC SILICA RESOURCES CORP.
"Raymond Wladichuk, P.Geo."
Chief Executive Officer
For further information, please contact:
Elyssia Patterson - CFO
Tel: +1 (778) 683 4324
Email:
Neither the Canadian Securities Exchange nor it's Regulation Services Provider (as that term is
defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release
and has neither approved nor disapproved the contents of this news release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward-
looking statements involve known and unknown risks, uncertainties and other factors that may cause
Quebec Silica's actual results, performance or achievements, or developments in the industry to differ
materially from the anticipated results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements are statements that are not historical facts and
are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will,"
"would," "may," "could" or "should" occur.
Although Quebec Silica believes the forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by their nature, forward-looking
statements involve assumptions, known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking
statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks
and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse
industry events; future legislative and regulatory developments in the mining sector; the Company's ability
to access sufficient capital from internal and external sources, and/or inability to access sufficient capital
on favorable terms; mining industry and markets in Canada and generally; the ability of Quebec Silica to
implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward-looking information and should not rely upon this
information as of any other date. While the Company may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.
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https://www.newsfilecorp.com/release/99798