Gold Plus Mining Enters into Agreement to Acquire Mineral Claims Contiguous to Benchmark Metals’ “Lawyers” Au/Ag Discovery and Announces Private Placement
FOR IMMEDIATE RELEASE
Gold Plus Mining Enters into Agreement to Acquire Mineral Claims Contiguous to Benchmark Metals’ “Lawyers”
Au/Ag Discovery and Announces Private Placement
VANCOUVER, BC, July 27TH, 2020 – Gold Plus Mining Inc. (“Gold Plus” or the “Company”) (CSE :GPMI) is pleased
to announce the it has entered into an agreement to acquire highly prospective mineral claims (the “Property”) in
BC’s famous “Golden Horseshoe” region contiguous to Benchmark Metal’s (BNCH – TSX.V) “Lawyers” Gold and
Silver project that recently reported drilling intercepts of 2,360 g/t silver and 11.30 g/t gold over a 1 meter
interval as well as 1.44 g/t gold equivalent over 102 meters.
Gold Plus’s mineral claims cover approximately 8,650 acres and are on trend with sever al mines found in the
region, located at the south -eastern side of Benchmarks’ “ Lawyers” property, below TDG Gold Corp’s “Baker”
Mine and “Shasta” Mine and in line with the “Kemess” Mine further South East that hosts 2.7Moz of gold
equivalent. Mineralization hosted on adjacent and/or nearby properties is not necessar ily indicative of
mineralization hosted on the Properties.
Gold Plus is planning an exploration program on its two claim blocks that will include an airborne survey to further
define magentic targets as well as the mobilization of crews to conduct a sampling program to test ourcrops and
soil geochemestry aimed at identifying high priority drill targets.
President and CEO Keith Anderson Jr. states, “ With the acqusition of these highly prospective claims, Gold Plus
now has three projects in some of the most prolific mining camps in Canada: the Golden Triangle in British
Columbia, the Red Lake mining camp in north west Ontario and the Abitibi region of Quebec. We plan to conduct
work programs on all three properties throughout 2020 and define prioritry targets for upcoming drill programs.”
Neighbouring Benchmark Metals recently announced the addition of a fifth drill rig to its 50,000 -metre drill
program and has completed over 10,500 meters to date from over 60 drill holes targeting resource definition and
expansion areas at its “Lawyers” discovery . Benchmark hopes to establish a five -million-plus-ounce resource by
the first half of 2021, with preliminary economic studies to follow later in the year.
Gold Plus Mining’s property hosts highly prospective rocks in the northeastern region of the prolific metal -
endowed Stikine Terrane, British Columbia, Canada. According to Logan and Mihalynuk (2014) , magmatic events
in Stikine during the Late Triassic and Early Jurassic were the driving source for the development of mineralizing
porphyry and epithermal systems. The same magmatic and mineralizing events are recognized on both the east
and west sides of the Bower Basin forming an arch of gold and polymetallic mineralization. This arch is depicted
herein as the 'Golden Horseshoe' which includes the Golden Triangle.
Map of Gold Plus’ properties in relation to Benchmark’s “Lawyers” property and nearby deposits
Select high-grade downhole drilling intercepts from neighboring Benchmark’s “Lawyers” property include:
259.76 g/t Au & 3,320.3 g/t Ag over 3 m
108.36 g/t Au & 911.2 g/t Ag over 7 m
86.06 g/t Au & 583.83 g/t Ag over 7 m
52.02 g/t Au & 846.44 g/t Ag over 3 m
12.67 g/t Au & 143.39 g/t Ag over 28 m
Private Placement
The Company would also like to announce a non-brokered non-flow through private placement of up to $975,000
consisting of up to 6,500,000 units at $0.15 per unit. Each unit will consist of one common share and one share
purchase warrant, with each warrant exercisable into one common share at $0.30 for a two-year term. As well as
a flow through unit private placement of up to $400,000 consisting of up to 2,000,000 units at $0.20 per unit. Each
unit will consist of one common share and one share purchase warrant, with each warrant exercisable into one
common share at $0. 30 for a two-year term. The Company may pay a finder's fee paid in accordance with
applicable laws.
Acquisition Terms
The Company has entered into an arm’s length share purchase agreement with 1258512 BC Ltd. (“Numb erCo”)
and the shareholders of NumberCo (collectively, the “ Vendors”), subject to formal documentation, pursuant to
which the Company has agreed to acquire all of the issued and outstanding shares of the NumberCo from the
Vendors for consideration of 3,000,000 units. Each unit will consist of one common share and one share purchase
warrant, with each warrant exercisable into one common share at $0.15 for a three-year term. The agreement is
subject to normal course due diligence and applicable regulatory approval.
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed
and approved the technical contents of this news release on behalf of the Company
About Gold Plus Mining Inc.
Gold Plus Mining is an exploration company focused on discovery -stage properties located in the prolific Golden
Triangle of British Columbia, the gold mining belts of northwestern Ontario and the Pluto Property in Quebec,
Canada.
ON BEHALF OF THE BOARD
Keith Anderson Jr.
President & CEO
For more information on Gold Plus Mining, please contact
Mr. Spencer Smyl
Phone: 604-785-4229
E-mail: [email protected]
Corporate e-mail: [email protected]
Website: www.goldplusmining.com
Corporate Address: 303 – 570 Granville Street, Vancouver, BC, V6C 2P1
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States.