Sentinel Resources Options Waterloo Silver-GOLD Property Near Vernon, BC; Announces Private Placement to Raise $500,000
T - 604.689.7422 F - 604.689.7442 204 – 998 Harbourside Drive North Vancouver, BC V7P 3T2
SENTINEL RESOURCES OPTIONS WATERLOO SILVER-GOLD PROPERTY NEAR
VERNON, BC;
ANNOUNCES PRIVATE PLACEMENT TO RAISE $500,000
Vancouver, British Columbia, September 2nd , 2020 – Sentinel Resources Corp . ( CSE:
SNL)(US OTC PINK: SNLRF) (“Sentinel” or the “Company”) is pleased to announce it has
entered into an option agreement with RebelEX Resources Corp., to acquire up to a 100% interest
in the historic Waterloo silver-gold property, located near Vernon, British Columbia.
President and C EO, Rob Gamley commented, "I am pleased to announce the addition of the
Waterloo silver-gold property to Sentinel’s BC exploration project portfolio. The Waterloo project,
which includes the historic Waterloo Mine, has clearly shown the potential to host high -grade
silver and gold mineralization. Historic w ork on the project such as geological ma pping and
prospecting have produced compelling results of high-grade silver and gold - metals which have
been mined in the region for over 100 years."
Waterloo highlights:
• Road accessible, 3,130 hectare project close to developed infrastructure
• High-grade silver and gold veins exposed over an area of approximately 4.0 by 0.7
kilometers
• Grab samples from historic workings returned assays of 2,790 grams per tonne (g/t) silver
(Waterloo) and 45.70 g/t gold (Au showing)
• The property has not been systematically drill tested and numerous untested targets are
defined
Waterloo Property
The Waterloo Property consists of 3,130 hectares located in the historic Lightning Peak silver and
gold camp in the Vernon Mining District. The property is host to numerous high-grade silver and
gold showings exposed over an area of 4.0 by 0.7 kilometers. Central to the property is the historic
Waterloo Mine that has seen sporadic production of high -grade silver since 1903, resulting in
numerous shipments of ore to the Trail, BC smelter in 1954, 1967 and 1983. The Waterloo Mine
is centered east-west striking shear zone, host to structurally controlled high-grade silver, lead and
zinc mineralization (Waterloo structure) . This zone is reportedly mineralized along its mined
T - 604.689.7422 F - 604.689.7442 204 – 998 Harbourside Drive North Vancouver, BC V7P 3T2
length (approximately 550 meters in the #4 adit) including numerous h igher grade sections from
vertically oriented ore shoots. Based on geophysical and geochemical surveys, previous operators
have interpreted the Waterloo structure to extend below thick cover to the east, with a potential
strike length of up to two kilometers. The structure has never been systematically drill tested over
its proposed length or at depth.
Gold dominant showings (e.g., the Au showing located 550 meters northeast of the Waterloo Mine)
are hosted in north-south trending quartz - sulphide veins with associated iron carbonate alteration.
The Forge area, 590 meters east of the Waterloo mine and 850 meters south of the Au showing,
marks the projected intersection of the east -west trending Waterloo structure and the north-south
trending structures of the Au showing. These zones of structural intersections remain largely
untested and represent priority targets for follow-up.
Table of selected grab sample assays compiled from previous operators
Target Sample Type Ag (g/t) Au (g/t) Pb (%) Zn (%)
Forge East 1717023 grab 3,095 3.8 0.47 0.71
Forge East 1710502 grab 1,507 2.81 0.44 0.03
AU Showing 1717037 grab 794 45.7 7.82 3.63
AU Showing J486140 grab 141 25.4 1.8 0.69
Waterloo 1717035 grab 1,482 0.03 1.81 26.77
Waterloo 1710270 grab 1,159 0.02 18.53 7.53
Waterloo E924007 grab 2,790 0.01 1.94 3.82
All results stated above were previously reported by former project option holder, Tower
Resources Ltd. Samples were reportedly collected from outcrops, trenches, and dump piles located
near old workings . Sentinel cautions readers that grab samples are selective by nature and the
resulting assays from the samples may not be representative of all the mineralization on the
property.
Project maps showing the locations of the main target areas are found on the company’s website
(www.sentinelexp.com)
Option Terms
Terms of the Option Agreement include the right of Sentinel to exercise the Option and acquire
the 100% Interest is conditional on Sentinel:
T - 604.689.7422 F - 604.689.7442 204 – 998 Harbourside Drive North Vancouver, BC V7P 3T2
1. Making cash payments to RebelEX of an aggregate of $200,000 , including: (i) $30,000
within ten (10) Business Days of the Effective Date; (ii) $30,000 on or before the date that
is twelve (12) months following the Effective Date; (iii) $40,000 on or before the date that
is twenty four (24) months following the Effective Date; (iv) $40,000 on or before the date
that is thirty six (36) months following the Effective Date; and (v) $60,000 on or before
the date that is forty eight (48) months following the Effective Date;
2. Issuing to RebelEX the aggregate amount of 4,000,000 common shares in the capital of
Sentinel (the "Option Shares") as follows: (i) 300,000 Common Shares within ten Business
Days following the Effective Date; (ii) 600,000 Common Shares on or before the date that
is twelve (12) months following the Effective Date ; (iii) 700,000 Common shares on or
before the date that is twenty four (24) months following the Effective Date; (iv) 800,000
Common Shares on or before the date that is thirty six (36) months following the Effective
Date: (v) 1,600,000 Common Shares on or before the date that is forty eight (48) months
following the Effective Date;
3. Funding aggregate Expenditures on the Property of $1,200,000 as follows: (i) $200,000 on
or before the date that is twelve (12) months following the Effective Date; (ii) $250,000 on
or before the date that is twenty four (24) months following the Effective Date; (iii)
$250,000 on or before the date that is thirty six (36) months following the Effective Date;
and (iv) $500,000 on or before the date that is forty eight months foll owing the Effective
Date.
After Sentinel has earned the 100% Interest, Sentinel will pay to RebelEX a royalty (the "Royalty")
being equal to 2% of Net Smelter Returns. Sentinel may purchase 1% of the Royalty Interest, for
$1,000,000.
In connection with the transaction, Sentinel will pay an arm’s length finder of 435,000 common
shares over the term of the Option Agreement.
Financing
Sentinel also announces that the Company has arranged a non-brokered private placement
financing of up to 2 million units at a price of 25 cents per unit for gross proceeds of up to $500,000.
Each unit comprises one common share in the capital of the company and one common share
purchase warrant. Each warrant e ntitles the holder thereof to purchase one common share for 40
cents for a period of one year from the date of issuance. The Company may pay a finder's fee in
connection with the offering to qualified non-related parties, in accordance with the policies of the
Canadian Securities Exchange.
T - 604.689.7422 F - 604.689.7442 204 – 998 Harbourside Drive North Vancouver, BC V7P 3T2
Proceeds from the offering will be used for general working capital purposes. All securities issued
under the offering, including securities issuable on the exercise thereof, are subject to a hold period
expiring four months and one day from the date of issuance. The offering is subject to certain
conditions, including, but not limited to, the receipt of all necessary approvals, including the
approval of the exchange.
About Sentinel Resources
Sentinel Resources is a Canadian -based exploration company focused on the acquisition and
exploration of gold and silver projects with world -class potential. Its current portfolio includes
the Waterloo, Pass, and Little Bear projects in British Columbia. For mor information, please go
to the Company’s website at www.sentinelexp.com.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by Greg Bronson, P.Geo, a director of the Company and a "Qualified Person" as defined
in National Instrument 43 -101 - Standards of Disclosure for Mineral Projects. Greg Bronson, P.
Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the contents of this
news release.
Historical exploration data summarized in this release are compiled from publicly available
assessment reports ( http://aris.empr.gov.bc.ca) and news releases (www.sedar.com). Assays and
geological observations have not been verified by Sentinel. All quoted assays are accompanied in
the assessment reports by copies of certified laboratory assay certificates.
Sentinel Resources Corp.
“Rob Gamley”
President and Chief Executive Officer
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that
term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of
this news release.