Global Vanadium Closes Option Agreement FOR Stony Lake East GOLD Project IN Newfoundland
2310 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
TSX-V: GLV
GLOBAL VANADIUM CLOSES OPTION AGREEMENT FOR STONY
LAKE EAST GOLD PROJECT IN NEWFOUNDLAND
August 14, 2020 – Global Vanadium Corp. (GLV: TSX-V ) (“Global” or the “Company”) reports it has
closed an option agreement (the “Agreement”) to acq uire up to a 100% interest in the Stony Lake East
Gold Project located in the Grand Falls – Bishops F alls area of the Province of Newfoundland from
District Copper Corp. (“District”) a TSX Venture li sted company (DCOP.V). The Stony Lake East Gold
Project is comprised of 8 mineral licenses covering a total of 13,625 hectares as announced on July 30 ,
2020.
The Stoney Lake East Gold Project is located within the Cape Ray/Valentine Lake structural trend in
Central Newfoundland - Canada’s newest emerging oro genic gold district. The Stony Lake East Gold
Project covers 27 kilometers of this favourable tre nd between Sokoman’s Moosehead discovery to the
northeast and the Twilight zone to the southwest. I n 2019 District carried out a field program focused on
prospecting, mapping and sampling in the identified target areas and a property-wide airborne
magnetometer and radiometric survey to map bedrock lithologies, structural features and areas of
structurally controlled potassic alteration. The gr ound field work covered the northern portion of the
property and either expanded known zones of gold mi neralization or identified new areas of highly
anomalous to low grade gold mineralization. The mineralization in each zone remains open along strike.
Global can exercise the option as to a 75-per-cent interest in the property by:
Paying to District the sum of $75,000 within 15 bus iness days following the date that this
agreement is accepted for filing by the TSX Venture Exchange;
Issuing to District 500,000 fully paid and non-asse ssable common shares of Global within 15
business days following the approval date;
On or before the 15-month anniversary of the approv al date, paying to District the sum of
$125,000 and making exploration expenditures of not less than $150,000;
Issuing to District 1.2 million fully paid and non- assessable common shares of Global on or
before the 15-month anniversary of the approval dat e;
On or before the second anniversary of the approval date, paying to District the sum of
$150,000 and making additional exploration expendit ures of not less than $250,000 (for
cumulative exploration expenditures of $400,000);
Issuing to District an additional 1.6 million fully paid and non-assessable common shares of the
purchaser on or before the second anniversary of th e approval date.
Global can exercise the option as to a further 25-p er-cent interest in the property (for a total inter est of
100 per cent excluding any net smelter royalty inte rest) by: (a) paying to District the sum of $500,00 0 on
or before the third anniversary of the approval dat e; and (b) issuing to District two million fully pa id
and non-assessable common shares of Global on or be fore the third anniversary of the approval date.
Global and District are arm's length parties and th e Agreement was not a related party transaction.
2310 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
TSX-V: GLV
Pursuant the terms of the agreement, Global, has no w paid District $75,000 in cash and issued 500,000
common shares of Global. The shares of Global issuable under the terms of the Agreement have a deemed
price of $0.19.
All securities issued pursuant to the agreement are subject to a four month hold period from the date of
issuance.
Chris M. Healey, P.Geo., a Qualified Person pursuan t to National Instrument 43-101, Standards for
Disclosure for Mineral Projects, has reviewed and a pproved the scientific and technical information
disclosed in this news release.
Global Vanadium Corp.
“Kosta Tsoutsis”
CEO, Director
For further information, please contact:
Kosta Tsoutsis
Chief Executive Officer and Director
Global Vanadium Corp.
email: [email protected]
Telephone: 604 808-9134
Brian Morrison
Chief Financial Officer and Director
Global Vanadium Corp.
email: [email protected]
telephone: 604 312-6910
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-look ing statements, which reflect the expectations of
management regarding Global’s intention to continue to identify potential transactions and make certai n
corporate changes and applications. Forward-looking statements consist of statements that are not pure ly
2310 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
TSX-V: GLV
historical, including any statements regarding beli efs, plans, expectations or intentions regarding th e
future. Such statements are subject to risks and un certainties that may cause actual results, performa nce
or developments to differ materially from those contained in the statements. No assurance can be given that
any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits
Global will obtain from them. These forward-looking statements reflect managements’ current views and
are based on certain expectations, estimates and as sumptions which may prove to be incorrect. A number
of risks and uncertainties could cause actual results to differ materially from those expressed or implied by
the forward-looking statements, including Global’s inability to identify transactions having satisfact ory
terms or at all and the results of exploration or review of properties that Global does acquire. These forward-
looking statements are made as of the date of this news release and Global assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results differed from those projected
in the forward-looking statements, except in accordance with applicable securities laws.