Chibougamau Independent Mines Board Update ROUYN‐NORANDA, QUÉBEC‐ Chibougamau Independent Mines Inc. (CBG‐ T S X ‐ V i n C a n a d a , C L L 1 ‐ Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF‐OTC in the US.
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Chibougamau Independent Mines Board Update
ROUYN‐NORANDA, QUÉBEC‐ Chibougamau Independent Mines Inc. (CBG‐ T S X ‐ V i n C a n a d a , C L L 1 ‐
Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF‐OTC in the US.
Over the course of the past year, Chibougamau Independent Mines Inc. (CBG‐TSXV, CLL1‐Frankfurt)
herein called Chibougamau has pursued and continues to consider v a r i o u s a l t e r n a t i v e s t o i n c r e a s e
shareholder value, including the potential monetization of certain of our assets, as well as potential joint
venture and other corporate transaction. The company has received and considered proposals from
multiple parties and certain transactions were advanced to the documentation stage. Market conditions
h a v e , s o f a r , p r e v e n t e d c o m p l e t i o n o f a n y o f t he s e i n i t i a t i v e s . Chibougamau will continue to consider
any future opportunities in this regard, with a view to maximizing shareholder value.
In May 2022, Chibougamau initiated work on our large western claim block starting with prospecting
and mapping. This is expected to be followed by stripping in n ew areas deemed of potential economic
interest as well as geophysics and diamond drilling, if warrant ed. Depending on the available funds and
time constraints, we may also drill several holes on our C3 cop per gold discovery before year end. The
Board remains confident that, depending upon market conditions and the results of current
activities, significant progress can be made in 2022 and 2023 to realize the potential intrinsic value of
our company’s assets.
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility fo r the adequacy or accuracy of the
release.
We Seek Safe Harbour.
CUSIP Number 167101 203
LEI 529900GYUP9EBEF7U709
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn‐Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
www.chibougamaumines.com
Forward Looking Statements
Except for historical information this News Release may contain certain “forward looking statements”. These statements may involve a number of known
and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the
Companies expectations and projections. A more detailed discussion of the risks is available under “disclaimer” on the Company’s website.
Press Release
August 10th, 2022
53,576,570 shares issued and outstanding