Kintavar Mobilizes the Drill Rig ON the Mitchi Project – Begins Summer Exploration Program, Update ON Private Placement
NEWS RELEASE
For immediate distribution
KINTAVAR MOBILIZES THE DRILL RIG ON THE MITCHI PROJECT – BEGINS SUMMER EXPLORATION
PROGRAM, UPDATE ON PRIVATE PLACEMENT
Montreal, Quebec, May 1 7, 201 8 – Kintavar Exploration Inc. (the “ Corporation” or “ Kintavar”)
(TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce that the exploration team and the drill
rig have all been mobilized to the Mitchi property to begin the 2018 summer exploration and
drilling program.
The Corporation is benefiting from the late spring conditions to mobilize the drilling equipment
early while snow on the ground allows for quicker and simpler mobilization. Drilling is expected
to begin in late May or early June.
The exploration team is beginning all the preparation work for the upcoming summer program
which includes among others:
Additional characterisation of several drill holes from the winter drilling program
Improving local infrastructure for the busy drilling program
Drilling on the Sherlock corridor in June
Drilling on the Nasigon corridor in July and August
Surface work on the Hyspana corridor in preparation for drilling in Fall 2018
Update on the Private Placement
Le placement privé sans courtier pour un produit brut total pouvant aller jusqu’à 15 000 000 $
(le « Placement ») ce déroule bien et la Société est encouragée par les intérêts reçu jusqu'à
présent. Tel qu’annoncé le 9 avril 2018, la Société a clôturé la pr emière tranche du Placement
pour un produit brut de 2 500 000 $. La Société prévoit la clôture de la prochaine tranche dans
les prochaines semaines et a demandé à la Bourse de croissance TSX (la « Bourse ») une
extension pour la clôture de la balance du Placement jusqu’au 17 juin 2018.
About the Mitchi Property
The Mitchi property (approx. 28,000 hectares, 100% owned) is located west of the
Mitchinamecus reservoir, 100 km north of the town of Mont -Laurier. The propert y covers an
area of more than 2 80 km2 accessible by a network of logging and gravel roads with a hydro-
electric power substation located 14 km to the east. The property is located in the north-western
portion of the central metasedimentary belt of the Grenville geological province. Many gold,
copper, silver and/or manganese mineralized showings have been identified to date, with many
characteristics suggesting of a sediment -hosted stratiform copper type deposit (SSC) in the
- 2 -
Eastern portion of the property and Iron Oxide Copper Gold ore (IOCG) a nd skarn type deposits
in the Western portion. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi
property, outside of the sedimentary basin and a 1% NSR on 21 claims partially on in the
sedimentary basin.
For further information contact:
Kiril Mugerman,
President and CEO
Telephone: +1 450 641 5119 #5653
Email: [email protected]
Web: www.kintavar.com
Forward looking Statements:
Neither 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.
This news release contains statements th at may constitute “forward -looking information” or “forward looking
statements” within the meaning of applicable Canadian securities legislation. Forward -looking information and
statements may include, among others, statements regarding future plans, costs , objectives or performance of the
Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”,
“would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and
similar words and the negative form thereof are used to identify forward -looking statements. Forward -looking
statements should not be read as guarantees of future performance or results, and will not necessarily be accurate
indications of whether, or the t imes at or by which, such future performance will be achieved. No assurance can be
given that any events anticipated by the forward -looking information will transpire or occur, including additional
closings of the private placement referred to above, or if any of them do so, what benefits the Corporation will
derive. Forward -looking statements and information are based on information available at the time and/or
management's good -faith belief with respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control.
These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in
the Co rporation’s ma nagement’s discussion and analysis for the fiscal year ended December 31, 201 7, which is
available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those
projected in any forward -looking statements. The Corpora tion does not intend, nor does the Corporation undertake
any obligation, to update or revise any forward -looking information or statements contained in this news release to
reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.