Corporate Update & Share Consolidation
CORPORATE UPDATE & SHARE CONSOLIDATION
Vancouver, British Columbia, January 19, 2023 – ISM Resources Corp. (“ISM” or the “Company”) (CSE: ISM) (OTC: ISMRF) (FSE: Q3Q.F), a North American mining exploration and development company, is pleased to provide the following corporate update.
Koster Dam Joint Venture with Cariboo Rose Resources Ltd.
The Koster Dam claims are located in south-central British Columbia west of the Fraser River approximately 14 kilometres southwest of the Gang Ranch and 9 kilometres northwest of the Empire Valley Ranch. The City of Williams Lake, located 80 kilometres north of the property, is the nearest regional commercial center.
As stated in ISM’s Listing Statement dated September 23, 2022, the Company has completed Phase 1 of the exploration recommendations and is currently discussing Phase 2 program for 2023 with its Joint Venture Partner Cariboo Rose Resources Ltd. The Company will announce its 2023 exploration plans when finalized.
ESN Project
The property is located in White Pine County, Nevada approximately 35 miles (57 kilometers) west of the town of Ely, Nevada, the White Pine County Seat. The property position consists of a total of 33 unpatented lode claims. The claims cover an area of approximately 660 acres (267 hectares). The claims are staked on U. S. Government land administered by the U. S. Bureau of Land Management (“BLM”) and the U. S. Forest Service (“USFS”).
Geophysical surveys and additional Enzyme Leach soil sampling is recommended for the next exploration phase. Initially a gravity survey is recommended. Gravity is a relatively inexpensive method that is expected to continue to point to general areas of interest. It will also help to define which geophysical method is to be attempted next. Following the gravity survey and depending on its findings, either a CSAMT or IP survey should be conducted. These methods will extend the knowledge of the subsurface geology and provide targets for drilling.
The first round of Enzyme Leach sampling provided additional data to target future exploration. In the next exploration phase, additional Enzyme Leach soil sampling is recommended. Approximately the same number of samples as the first survey should be collected and should extend the coverage toward the south. The cost of the sampling and geophysical programs is expected to be approximately $150,000. ISM is in the process of contacting selected exploration contractors to fulfill the requirements of this recommended program slated for mid 2023.
Quet and Fire Properties
ISM decided to not renew the Quet and Fire claims allowing them to laps due to the inconsequential size and location of the claims and lack of interest in pursuing them further.
| Share Consolidation | |
| The Company announces it intends to consolidation its common shares on a two (2) for one (1) | |
| basis (the “Share Consolidation”). The Company currently has 27,485,864 common shares issued | |
| and outstanding. Following the proposed Share Consolidation, the Company will have | |
| approximately 13,742,932 common shares issued and outstanding prior to rounding for fractional | |
| shares. | |
| The Share Consolidation was approved by the board of directors of the Company, but remains | |
| subject to the approval of the Canadian Securities Exchange (the “CSE”). The Company will issue | |
| a further news release upon receiving CSE approval, announcing the effective date of the Share | |
| Consolidation. | |
| The Company continues to seek new opportunities throughout North America including base, | |
| precious and strategic metals which would compliment the Company’s vision while potentially | |
| adding shareholder value. | |
| On Behalf of the Board of Directors, | |
| Glenn Collick | |
| President and Director | |
| For further information, please contact: | |
| [email protected] | |
| About ISM Resources Inc. | (CSE: ISM) (OTC: ISMRF) (FSE: Q3Q.F) |
| ISM is a Canadian-based exploration company with a focus on identifying mineral resource | |
| projects for exploration and development. The Company is currently focused on exploring its | |
| Koster Dam Joint Venture project located in the Clinton Mining Division of British Columbia, in | |
| which ISM has a 45% interest and Cariboo Rose Resources LTD retains a 55% interest. ISM has | |
| a 100% interest in the ESN Project in White Pine County, Nevada. | |
| For more information Call: (778) 868-2226 | |
| Caution Regarding Forward-Looking Information |
Certain statements contained in this news release may constitute forward‐looking information.
Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions as they relate to the Company, completion of the proposed Share Consolidation, are intended to identify forward-looking information. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐ looking information including, without limitation: the CSE providing approval of the proposed Share Consolidation. The Company’s actual results could differ materially from those anticipated in this forward‐ looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.