DeepRock Minerals Expands Land Package in New Brunswick
Page 1 of 3 | DeepRock Minerals Inc. | #1518 – 800 West Pender St., Vancouver, BC V6C 2V6
DEEPROCK MINERALS EXPANDS LAND PACKAGE IN NEW BRUNSWICK
VANCOUVER, CANADA, July 22, 2021 – DeepRock Minerals Inc. (the “Company”) (CSE: “DEEP”),
is pleased to announce it has entered into an option agreement with Gerard Roy and Rose Hannan
(together the “Optionor”) to acquire a 100% interest in the Lugar Property (the “Property”), a 2,800
hectare (28.0 km²) mineral claim package comprising 112 contiguous claim blocks that adjoin and
surround the northern border of the Company’s Falls Grid Property (and together herein known as the
“Golden Gate Project”).
Within an area long known to be prospective for its mineral exploration potential the Lugar Property
covers areas both North and East of the Company’s Falls Grid Property which was optioned in June 2019.
The expanded land package spans multiple converging major geological contacts and fault zones that are
related and on structural trend with similar formations that host both former producing mines and
commercial deposits now under development both west and southwest of the project area.
Four known gold occurrences have been reported on the Lugar Property. The primary target area lies in
the Property’s southeastern section, which is an east-northeast extension to the Company’s targeted gold
zone on the Falls Grid Property. Reported interpretations of earlier airborne and ground-based
geophysical surveys appear to confirm earlier exploration work which included prospecting and shallow
diamond drilling that encountered multiple sulphide mineralized intercepts. With its southwestern extents
lying within the original Falls Grid Property, this contact zone has been shown to trend NE for a distance
exceeding 5 kms.
Page 2 of 3 | DeepRock Minerals Inc. | #1518 – 800 West Pender St., Vancouver, BC V6C 2V6
Additionally, the Lugar Property’s secondary target area hosts Ordovician granite intrusions along the
northern boundary that have been mapped over a distance of 7.0+ kms, and where within the Property a
series of gold geochemical anomalies have been reported from soil, quartz vein and float sampling. This
area lies parallel and south of the known gold-hosting Nicolas Denys granite.
DeepRock’s option to acquire a 100% right, title and ownership interest in the Property over a 4 year
period consist of $120,000 in total cash payments, and an accumulative expenditure of $225,000 in
exploration work, and including a retained 1.25% Net Smelter Royalty (“NSR”) in accordance with the
following schedule (all dollar amounts in Canadian Dollars):
i. $5,000 cash payment to the Vendor within 5 days of the agreement’s execution date (paid),
ii. Before the 1st Anniversary - $10,000 cash payment to the Vendor and $25,000 minimum work,
iii. Before the 2nd Anniversary - $25,000 cash payment to Vendor and $25,000 minimum work,
iv. Before the 3rd Anniversary - $35,000 cash payment to Vendor and $75,000 minimum work,
v. Before the 4th Anniversary - $45,000 cash payment to the vendor and $100,000 minimum work,
NOTE: There are no third-party finder fees applicable to the above. The Company has the right to
purchase 0.5% of the NSR for $1,000,000 and the remaining 0.75% of NSR under terms to be negotiated
with the Optionor.
Doug Blanchflower (P.Geo.), a qualified person in accordance with National Instrument 43-101, has
reviewed and approved the content of this news release.
About DeepRock Minerals Inc.
DeepRock Minerals is a Canadian mineral exploration company headquartered in Vancouver, British
Columbia. DeepRock’s primary focus is in acquiring and developing advanced stage exploration and
development mining projects.
ZAPOZILOR POLYMETALLIC PROJECT (Romania) 7.6 km2 in area with mineralization
characterized by polymetallic copper lead, zinc, silver, gold, antimony, tin, nickel, and cobalt
mineralization. Historical exploration and development work of underground workings, exploration
drilling and light surface works.
RALLEAU VMS PROJECT (Canada) 59 claims totalling 33.24 km2 straddling both the Cameron and
Barry Deformation Zones positioned strategically between the eastern boundary of Osisko Metal’s
Osborne-Bell Gold/VMS project and the western boundary of Osisko Metal’s Windfall Lake Gold Project
with its eastern border less than 25km from Osisko’s active Windfall Gold property.
GOLDEN GATE PROJECT (Canada) property located just west of Bathurst, New Brunswick with 125
continuous claim units totalling 3,070 ha.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Lee
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release. This news release contains "forward-looking information" including
Page 3 of 3 | DeepRock Minerals Inc. | #1518 – 800 West Pender St., Vancouver, BC V6C 2V6
statements with respect to the future exploration performance of the Company. This forward -looking
information involves known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different from any future results,
performance or achievements of the Company, expressed or implied by such forward -looking statements.
These risks, as well as others, are disclosed within t he Company's filing on SEDAR, which investors are
encouraged to review prior to any transaction involving the securities of the Company. Forward -looking
information contained herein is provided as of the date of this news release and the Company disclaims
any obligation, other than as required by law, to update any forward -looking information for any reason.
There can be no assurance that forward- looking information will prove to be accurate and the reader is
cautioned not to place undue reliance on such forward-looking information.