Mosaic Expands Chrisafy Land package
MOSAIC MINERALS EXPANDS CRISAFY PROPERTY IN CHIBOUGAMAU AREA
Vancouver, British Columbia – January 21, 2021 – M. Maurice Giroux, President and CEO of Mosaic
Minerals Corp. (“Mosaic” or the “Company”) (CSE: MOC) is pleased to informreport that the Company
expanded the Crisafy Project, adding 5 claims to the South for an extra 280 hectares to the initial Crisafy
Gold Property located in Crisafy Township, SNRC 32G07 in the Chibougamau area in Quebec.
The Crisafy Property, originally 22 claims (see news release January 6, 2021), now comprises 27 mineral
claims covering 1, 515 hectares located in the very prolific Obatogamau neo-archean volcanic
formation. The formation is composed mainly of basalt and andesitic basalt, that hosts Iamgold’s
Nelligan and Monster Lake gold deposits as well as the Northern Superior ’s recent Lac Surprise
discovery, a few kilometers to the north (see location map here).
Crisafy Project – Mosaic Minerals Corp.
The decision to expand the perimeter followed a detailed examination of the geological and geophysical
context of the property area. A geological map, derived from an interpretation by CONSOREM,
Consortium de Recherche en Exploration Minérale of Université du Québec à Chicoutimi, of all the
deformation corridors extrapolated from electromagnetic conductor axis (INPUT) of the project area .
The map shows the position of the Nelligan and Monster Lake Iamgold discoveries and of the recent
Northern Superior Lac Surprise discovery within the deformation corridors. Mosaic has secured its three
blocks of claims, namely, Philbert 1, Opawica North and Crisafy within those corridors and the map
illustrates their strategic positioning in reference to existing deposits and new discoveries in the area.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. , founded in 2018 , is a Canadian mineral exploration company focused on
unlocking the potential of former Stellar AfricaGold Inc. “Stellar” Opawica Gold Project (“Opawica”)
which is located in Québec’s renowned and very prolific Chibougamau mining district, Nord-du-Québec,
within the famous Abitibi Greenstone Belt.
Mosaic is gold-focused concentrating its exploration efforts where the Company’s growth potential is
the strongest. After incorporation Mosaic acquired Stellar’s Opawica project in a 100% share deal .
Mosaic then completed a Plan of Arrangement with Stellar establishing a shareholder base of more
than 1,000 new Mosaic shareholders. Since the acquisition Mosaic has actively explored Opawica
completing its Phase I exploration program at the end of 2019 with results that warrant advancing with
a Phase II program.
The technic al content of this press release has been reviewed and approved by Éric Allard, an
independent consultant and a Qualified Person as defined in NI 43-101.
On Behalf of the Board
Maurice Giroux BSc
President & CEO
Contact: Maurice Giroux at 1-514-952-5709
www.mosaicminerals.ca
This release contains certain "forward -looking information" under applicable Canadian securities laws concerning the Arrangement. Forward -looking
information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases
forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate",
"projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. As sumptions upon which such
forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement
will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the
control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially
from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects
and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other comm odities (such as diesel,
aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative
instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining ta x regimes; ability to successfully
integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical
difficulties in connection with mining or development activities; laws and regula tions governing the protection of the environment; employee relations;
availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and develop ment; contests over title to
properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns
inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and op erating costs of such projects,
and the future prices for the relevant minerals.
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responsibility for the adequacy or accuracy of this release.