NEX Trading Symbol – Tgi.h True Grit Resources Enters into Definitive Agreement to Acquire Land Packages in Bc’s Golden Triangle Mining District
True Grit Resources Ltd.
Suite 404 – 999 Canada Place Vancouver, British Columbia V6C 3E2 Telephone: (604) 662‐3230 Fax: (604) 682‐4309 NEX TRADING SYMBOL – TGI.H
TRUE GRIT RESOURCES ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE LAND PACKAGES IN BC’S GOLDEN TRIANGLE MINING DISTRICT
VANCOUVER, BC (August 20, 2018) TRUE GRIT RESOURCES LTD. (“True Grit” or the “Company”) (TSXV: TGI.H) is pleased to announce that it has entered into a mineral property purchase agreement dated effective August 19, 2018, pursuant to which the Company has agree to acquire three land packages (the “Properties”) within the BC Golden Triangle Mining District, for aggregate cash consideration of $35,000 and the issuance of 2 million common shares in the capital of the Company. Closing of the transaction is subject to the approval of the TSX Venture Exchange.
The Properties lie 1 kilometres, 3 kilometres and 12 kilometres, respectively, east of the Forest Kerr project, held by Aben Resources Ltd, who, by news release dated August 9, 2018, announced results from the first hole of their recent drill program and that they have discovered four separate high‐grade zones, with the best zone returning an interval of 38.7 g/t Au over 10.0 metres, including 62.4 grams per tonne gold over 6.0 m starting at 114 metres downhole, and on August 15, 2018 announced a financing of up to $4 million, with Eric Sprott as the lead financier.
“We feel very fortunate to have secured these three strategic land packages within the Golden Triangle, as this is a world class mining district,” state Byron Coulthard, Chief Executive Officer of the Company.
ABOUT TRUE GRIT
True Grit is engaged in the business of acquiring, exploring and developing highly prospective mineral properties in North America. Its portfolio includes lithium, cobalt and gold properties.
ON BEHALF OF THE BOARD TRUE GRIT RESOURCES LTD.
“Byron Coulthard”
Byron Coulthard President, CEO and director
For further information, please contact Byron Coulthard at (604) 657‐7004.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Ex‐ change) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward‐Looking Statements and Adjacent Property Disclosure
This news release includes references to recent news releases of Aben Resources Ltd. with respect to its Forest Kerr project, which is located near the Properties. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on adjacent properties such as the Forest Kerr Project, and promising initial results, are not necessarily an indication of the mineralization of the Properties, or the Company’s ability to com‐ mercially exploit the Properties or locate a commercially exploitable deposit on the Properties.
This news release contains forward‐looking statements that involve various risks and uncertainties regarding future events. Such forward‐looking statements are based on current expectations of management, involve a number of risks and uncertainties, and are not guarantees of future per‐ formance of the Company. Forward‐looking statements in this release include statements regarding the proposed acquisition of the Properties and the expected quality of the Properties. Although the Company believes that the expectations and assumptions on which such forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company can give no assurance that they will prove to be correct. The forward‐looking statements are subject to various risks and uncertainties, including that the Com‐ pany may not be able to obtain the consent of the TSX Venture Exchange for the transaction, that the Properties may not be of the quality, or have the mineralization, expected, and other factors beyond the Company’s control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements. Forward looking statements contained in this press release are made as of the date of this press release and the Company disclaims any intent or obligation to update publically any forward looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.