21-09-28 ST NR Nevada property
StraightUp Resources Inc. Acquires Historic Mine in Nevada, USA
VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) -- via
InvestorWire – StraightUp Resources Inc. ("StraightUp" or the “Company”) (CSE:
ST) is pleased to announce that it has acquired the West Cat Mine, which includes an
unpatented lode mining claim on federal land in the historic Beatty Mountain Nevada
Mining District in Nye County, Nevada, located about 15 kilometers east of U.S. Route
95 and approximately 20 kilometers from Beatty, Nevada, at the base of the Bare
Mountain Range.
Excitement in the Beatty Mining District of Nevada has been increasing this year,
propelled by news that South Africa-based gold miner AngloGold Ashanti has entered
into a definitive arrangement agreement to acquire the remaining stake in Canadian
firm Corvus Gold. The total transaction cost to AngloGold Ashanti is estimated to be
approximately US$370 million. According to the proposal, announced Sept. 13, 2021,
AngloGold Ashanti will provide Corvus Gold’s shareholders with CA$4.10 per share in
cash. Canadian firm Corvus, owns the North Bullfrog and Mother Lode projects, along
with other exploration assets in Nevada.
The Property
The West Cat Mine is part of a 20.66 -acre land package discovered in the early years
of the Bullfrog mining boom. Gold -bearing quartz veins, high in base metals, occur in
the west-draining canyons and along the western slopes of Bare Mountain. The mi ne
has reportedly produced some very rich gold ore within fault zones and shears that cut
Precambrian-Cambrian quartzites, dolomites, and schists.
In consideration of the purchase agreement, StraightUp is issuing 4,000,000 common
shares at a deemed price of CA$0.25 per share and paying a cash amount equal to
CA$50,000, payable within three months.
Commentary
StraightUp President and CEO Mark Brezer said, “We are extremely excited to begin
our expansion into new mining districts and continue to position ourselves among top-
quality assets and companies. Nevada calls itself the ‘Silver State’ for good reason. It’s
the second-largest producer in the United States, after Alaska, and, in 2014, Nevada
produced roughly 11 million troy ounces -- more than half of which came as a byproduct
from gold mining. This is clearly an area ready for large-scale operations to come.”
Transfer Agent Change
The Company also announces it has changed its transfer agent to Endeavor Trust
Corporation.
About StraightUp Resources
StraightUp is engaged in the business of mineral exploration and the acquisition of
mineral property assets in Canada. Its objective is to locate and develop economic,
precious and base metal properties of merit. StraightUp intends to conduct exploration
on the RLX North, RLX South, Belanger and the Ferdinand Gold properties, all located
in the Red Lake Mining Division as well as the recently acquired Bear Head Gold
Project, located within the Meen -Dempster Greenstone Belt of the Uchi Subprovince,
approximately 80 kilometers west of the Pickle Lake Gold Camp.
On Behalf of the Board of Directors
Mark Brezer, Chief Executive Officer, President and Director For
further information, please contact:
Mark Brezer
Chief Executive Officer, President and
Director
(604) 989-6275
West Cat Mine Location
The West Cat Mine has historically produced rich
gold ore.
The West Cat Mine is part of a 20.66-acre land
package.
Nevada silver, 2019 production
SOURCE: NEVADA Division of Minerals 2019
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) ac cepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities
referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking
information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or
West Cat Mine
anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activiti es. Generally, but
not always, forward -looking information and statements can be identified by the use of words such as "plans," "expects," "is expected,"
"budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or the negative connotation thereof or variations of such
words and phrases or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur" or "be achieved"
or the negative connation thereof. Such forward-looking information and statements are based on numerous assumptions, including among
others, that the Company's planned e xploration activities will be completed in a timely manner. Although the assumptions made by the
Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the
time, there can be no assu rance that such assumptions will prove to be accurate. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of
current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration co st overruns, availability
of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or re gulatory
approvals and other risks detailed herein and from time to time in the filings made by the Compa ny with securities regulators. Although the
Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-
looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that forward -looking information and statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company expressly disclaims any intention or obligation to update or revise any forwa rd-
looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities
legislation.
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Attachments
⚫ West Cat Mine Location ⚫ West Cat Mine
⚫ Nevada silver, 2019 production