Goldhills Provides Update on Siguiri Gold Project and Director Appointment
Vancouver, British Columbia –November 18, 2022 –Goldhills Holding Ltd. (TSX-V:GHL) OTCQB: GODZF. GRYA: Frankfurt (“Goldhills” or the “Company”) announces that it wishes to provide an update on the Siguiri Gold Project.
The Company previously closed its share exchange agreement with Sun & Sand Mine and Mineral Trading DMCC (“Sun & Sand”) dated June 29, 2021 as amended July 6, 2021, and November 29, 2021 (as amended, the “Definitive Agreement”), for the acquisition of Sun & Sand Mining & Metals Guinea SA (“Sun & Sand Guinea”) the holding company that holds a 100% interest in its gold focused Siguiri Property (the “Siguiri Gold Property”) located in in Guinea, West Africa (the “Transaction”). See press releases dated July 7, 2021, January 19, 2022 and April 25, 2022 for additional information.
The Company has had issues with obtaining access to the Siguiri Gold Property to conduct the necessary exploration to maintain its license. As a result, its license is currently not in good standing.
12,742,838 of the 18,142,838 common shares issued under the Transaction which have been returned to treasury for cancellation. The Company may seek to re-issue those cancelled common shares upon resolution of its license status and confirmation that the Company will have the necessary access to the Siguiri Gold Property. Alternatively, the Company may seek the return of the balance of shares for cancellation in exchange for surrendering its ownership of Sun & Sand Guinea. Either course of action would be subject to necessary corporate and regulatory approvals including TSX Venture Exchange approval.
The Company is pleased to announce the appointment of Dr. Steven Sangha to the Board of Directors. Dr. Steven Sangha is significant shareholder of Goldhills has over twenty years’ experience in capital markets primarily in an advisory role in financing, strategic assessments of asset and management, and business development. Areas of focus include biotechnology and mining and more recently blockchain. He has extensive experience building, operating and managing many successful businesses.
The Siguri Gold Project
The Siguiri Gold Project is a gold exploration property wholly owned by Sun & Sand Mining & Metals SA. The property consists of two contiguous blocks covering a total area of 175 km2 located in Siguiri and 35km southwest of the Anglo Gold Ashanti Siguiri gold mine. The Siguri region has a record of historic production dating back to the 13th century and is one of the first - gold producing regions in west Africa. The reader is cautioned that resources that exist on adjacent properties (including the Anglo Ashanti’s Siguiri gold mine) is not necessarily indicative of potential on the Siguiri Gold Property.
About Goldhills
Goldhills Holding Ltd. (“Goldhills”) is a Canadian exploration company listed on the TSX Venture Exchange. Goldhills’ strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements focuses on sourcing production and near-term production mining opportunities.
On behalf of the Board of Directors:
Sergei Stetsenko CEO and Director
For further information contact:
Telephone +16046307296 Website http://goldhills.co/
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release contains forward-looking statements. These statements relate to the completion of the Transaction, the expectations relating to officers, directors and insiders of Goldhills, among others, reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Goldhills cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Goldhills’ control. Such factors include, among other things: risks and uncertainties relating to Goldhills’ ability to resolve its issue with the property or obtain approvals for corrections to the Transaction, risks associated with future exploration activities on its properties and other risks and uncertainties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Goldhills undertakes no obligation to publicly update or revise forward-looking information.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.