Kintavar Assays 1.10% Cu and 3.4 g/t Ag over 10.0 m including 1.74% Cu and 5.7 g/t Ag over 4 m in Channel Samples at the Nasigon Showing and Second Closing of Private Placement
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Kintavar Assays 1.10% Cu and 3.4 g/t Ag over 10.0 m including 1.74% Cu and 5.7 g/t Ag over 4 m in
Channel Samples at the Nasigon Showing and Second Closing of Private Placement
Montreal, Quebec, November 29, 2017 – Kintavar Exploration Inc. (the “ Corporation” or
“Kintavar”) (TSX-V: KTR), is pleased to announce assays from channel sampling at the Nasigon
showing on the Mitchi property in Quebec. In addition, the Corporation announces the second
closing in Trust of a non -brokered private placement offering (the “ Private Placement”),
consisting of 769,000 shares, issued on a flow through basis, at a price of $0.14 per share. This
brings the aggregate gross proceeds of the Private Placement to $489,270. The Corporation has
applied to the TSX Venture Exchange (the “Exchange”) to extend the closing date for the balance
of its Private Placement until December 29, 2017 and to increase the size of the Private
Placement with the same terms to up to 4,545,454 units and 5,357,142 common shares on a
Flow Through shares for aggregate gross proceeds of up to $1,250,000 . The extension and the
increased amount are subject to conditional approval of the Exchange.
The Company will use the proceeds of the Private Placement for the upcoming drilling program
on the Mitchi property and for working capital purposes.
The shares acquired by the subscribers are subject to a hold period of four months plus one day
from the closing date, ending on March 29, 2018, except as permitted by applicable securities
legislation and the rules of TSX Venture Exchange.
In connection with this Private Placement, the Corporation has paid a cash finder’s fee in an
amount of $ 7,536 and issued 53,830 non-transferable finder’s options to acq uire such number
of common shares at a price of $0. 14, exercisable for a period of twenty four (24) months and
subject to a hold period of four months plus one day from the closing date.
Nasigon Corridor
Work on the Nasigon showing in late October allowed to complete the channel sampling on the
trench and a short regional overview of the area. The continuous channel sample returned
assays of 1.10% Cu and 3.4 g/t Ag over 10.0 m (1.13% CuEq) including 1.74% Cu and 5.7 g/t Ag
over 4 .0 m (1.79% CuEq). Grab samp les 100 m south of Nasigon returned grades as high as
4.27% Cu and 14.4 g/t Ag suggesting extension of the mineralization to the south west. The table
below summarizes the best grades from the grab samples. The mineralization is associated with
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the same lithologies identified in the Sherlock & Watson corridor but the highest grades were
present in the glimmerite facies enriched in chalcocite with traces of bornite and chalcopyrite.
Based on these results, the Corporation proceeded with staking additional 24 claims for a total of
1,363 hectares in the northern portion of the property to secure any potential extensions of the
mineralization.
Samples
UTM nad83 z18
Cu (%) Ag (g/t) X Y
5743540 491718 5264949 4.27 14.4
5743541 491718 5264949 1.16 5.8
5743542 491717 5264947 0.84 8.0
5743543 491716 5264947 1.03 3.7
5743544 491717 5264948 2.41 9.0
“The initial work on the Nasigon corridor was brief but very successful. Copper mineralization
has been identified over 1.5 km within the metasedimentary unit and the grab samples 100 m
south of Nasigon could represent the same folded sequence. With grades surpassing 1% Cu over
10 m on surface, we are now targeting an induced polarization geophysical survey over the
Nasigon trench area to go along with the airborne magnetics survey covering the northern
portion of the property during the winter months . This will form the basis for the 2018 summer
field and drilling programs. We now have two high priority corridors with Sherlock & Watson in
the south and Nasigon in the north. With these results, Mitchi is starting to show glimpses of
district scale potential similar to the Balmat -Edwards zinc district in New -York, USA which is
hosted within similar rocks of the Grenville Supergroup and hosts 8 active and past producing
zinc mines. We are very encouraged for the upcoming winter drilling program which is expected
to start in early December. ” commented Kiril Mugerman, President and CEO of Kintavar
Exploration.
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Figure 1: Nasigon regional map and detailed trench map Full size map can be viewed here.
All samples have been sent and prepared (PREP -31) by ALS Global laboratory in Val -d’Or. The
pulp was sent to ALS Global laboratory in Vancouver for a multi -elemental analysis by four acid
digestion and spectroscopy ( ME-MS61). Sample with assays higher than 1 % Cu were reanalyzed
by ICP-AES (CU-OG62) with a higher detection limit of 40% Cu, at the ALS Global Vancouver
laboratory. Quality controls include systematic addition of blank samples and certified copper
standards to each batch sample sent to laboratories.
Grab samples are selected samples and not necessarily representative of the mineralization
hosted on the property.
The Corporation has not been able to independently verify the methodology and results from
the historical work progr am within the property boundaries. However, management believes
that the historical work program has been conducted in a professional manner and the quality of
data and information produced from them are relevant.
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Copper equivalent grade (CuEq) is presente d for information purposes only and is not indicative
of management’s opinion on the potential metallurgical recoveries or future commodity prices.
CuEq grade including silver values is based on 100% metal recoveries, Cu price of 3$/lb and Ag
price of 18 $ /oz. Copper grade equivalent calculation. CuEq% = (Cu % + (Ag grade x Ag
price))/(22.0462 x Cu price x 31.0135 g/t).
About the Mitchi Property
The Mitchi property (approx. 21,000 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 21 0 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 manganese mineralized showings have been identified to date, with many
characteristics suggesting of a sediment -hosted stratiforme cop per type deposit (SSC) in the
Eastern portion of the property and Iron Oxide Copper Gold ore (IOCG) and skarn type deposits
in the Western portion . Osisko Mining holds a 2% NSR on 39 claims and 1% NSR on 21 other
claims of the Mitchi property.
NI 43‐101 Disclosure
Alain Cayer, P. Geo., MSc., Vice -President Exploration of Kintavar, is the Qualified Person under
NI 43-101 guidelines who supervised and approved the preparation of the technical information
in this news release.
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 that may constitute “forward -looking information” or “forward looking
statements” within the meaning of applicable Canadian securi ties 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 n ot be read as guarantees of future performance or results, and will not necessarily be accurate
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indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be
given that any events anticipated by the forw ard-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 informati on 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 Corporation’s management’s discussion and analysis for the six months ended June 30, 2017, which is available
on SEDAR at www.sedar.com; they co uld cause actual events or results to differ materially from those projected in
any forward -looking statements. The Corporation does not intend, nor does the Corporation undertake any
obligation, to update or revise any forward -looking information or state ments contained in this news release to
reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.