White Metal Secures Deal with Murchison in the Pickle Lake Area
3250 Highway 130, Rosslyn, ON P7K 0B1 Tel: 807-623-6840 Fax: 807-623-9526 WHITE METAL RESOURCES CORP.
TSX-V:WHM
WHITE METAL SECURES DEAL WITH MURCHISON IN THE PICKLE LAKE AREA
April 12, 2016
Thunder Bay, Ontario: White Metal Resources Corp. (TSX-V:WHM) (“White Metal” or the “Company”) would like to announce that it has acquired by staking, two properties in the Pickle Lake Area. The first property, named “The South Limb Property”, is directly along strike from the Dona Lake Mine which produced 218,668 ounces of gold between 1987 and 1993. The claim group is also contiguous along a gold-bearing iron formation that has similar structural features as the Donna Lake gold deposit. Compilation work done by White Metal has confirmed that there are numerous untested drill targets in the area. Past work by previous mining companies, such as drilling and a detailed aeromagnetic survey, has demonstrated that the same structural features exist on the South Limb Property as the Dona Lake gold deposit. The second property, named “The Pickle Lake East Property”, is located five kilometres west of the Pickle Lake gold camp and covers an area of intense magnetic disruption that appears to reflect folding in the host iron formation. Work performed by the previous owners located a boulder containing anomalous gold and arsenic that was found just to the southwest or down-ice of this magnetic disruption.
White Metal would also like to announce the resignation of David Speck from the Board of Directors and thank David for his service and wish him all the best in his future endeavours.
The Company also announces that, subject to regulatory approval, it has issued 275,000 to a director and to an officer of the Company. The options will be exercisable at $0.10 per share for a period of five (5) years.
White Metal is a junior mineral exploration company exploring in Canada and currently has 19,316,076 common shares issued and outstanding.
On behalf of the Board of Directors of White Metal Resources Corp.
“Michael Stares”
Michael Stares, President and CEO
NEITHER THE 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 NEWS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projection
For further information contact:
Michael Stares Comment [SJB1]: Is there to be an email here? 3250 Highway 130 Rosslyn, Ontario, Canada P7K 0B1 Phone: (807) 628-7836