OR TO U.S. NEWS AGENCIES CLEGHORN MINERALS LTD. 152 Chemin de la Mine École
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES
OR TO U.S. NEWS AGENCIES
CLEGHORN MINERALS LTD.
152 Chemin de la Mine École
Val-d'Or, QC J9P 7B6
FOR IMMEDIATE RELEASE TSX-V: CZZ
CLEGHORN MINERALS LTD. ANNOUNCES PURCHASE AGREEMENT WITH CREST
RESOURCES
Val-d’Or, Québec – March 18, 2020 – Cleghorn Minerals Ltd. (“Cleghorn”) announces that it has entered
into a Mineral Claim Purchase Agreement (the “Agreement”) with Crest Resources Inc. (the “Vendor”)
dated March 7, 2020, to acquire (the “Acquisition”) a 100% undivided interest in 142 mineral claims known
as the Sprague Cleghorn Prospect and Odie Cleghorn Prospect , located in the Matachewan area of NE
Ontario (the “Propert ies”). Closing of the Acquisition is subject to app roval from the TSX Venture
Exchange.
The Property:
The Sprague Cleghorn Prospect is located directly adjacent to the northeast corner of Cleghorn Minerals
Meech Lake-Matachewan Prospect. The Odie Cleghorn Prospect is directly adjacent to the southwest
corner of the Meech Lake-Matachewan Prospect.
Proposed Acquisition:
As consideration for the Property, Cleghorn shall, on the closing of the Acquisition, issue to the Vendor
1,500,000 units of Cleghorn (the “Payment Units”) at the deemed price of $0.06 per unit. Each Payment
Unit shall consist of one common share of Cleghorn and one -half of one warrant (a “Warrant”). Each
Warrant shall entitle the holder to acquire an additional common share at a price of $0.10 per share for a
period of two years from the date of issuance.
Meech Lake-Matachewan Prospect:
Exploration work conducted by Cleghorn on the property successfully identified and confirmed the
presence of two separate mineralized systems on the property, previously documented in a series of pits
and/or trenches. They are represented by the Kell’s Ni-Cu-PGE Showing (T-52) and the Waterhole Au-Ag-
Zn Showing (T-1).
2017-2018 Exploration Program Highlights:
• Selective assays results from the sampling program of the historical pits and/or trenches on the
property included:
8.31% Cu, 3.80% Ni, 13.5 g/t Pt, 60.4 g/t Pd & 1.89 g/t Au from the Kell’s Showing
7.01 g/t Au, 31.2 g/t Ag, 2.25% Zn from the Waterhole Showing
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• Seventeen (17), widely- spaced drillholes, totalling 1,836-metres were completed. Drill
highlights include:
0.75% Ni, 1.29% Cu, 2.36 g/t Pd, 0.62 g/t Pt, 0.75 g/t Au & 6.64 g/t Ag over 6.30 metres,
including 1.0% Ni, 1.97% Cu, 3.70 g/t Pd, 0.96 g/t Pt, 0.46 g/t Au & 7.49 g/t Ag over 3.25
metres intersected in ML-18-011 at the Kell’s Showing;
2.45 g/t Au, 16.70 g/t Ag & 1.58% Zn over 0.55 metres intersected in ML-18-003 and
1.52 g/t Ag & 0.99% Zn over 3.35 metres, including 2.06g/t Ag & 1.41% Zn over 2.30
metres, and 4.80g/t Ag & 2.04% Zn over 0.85 metres intersected in ML -18-005 at the
Waterhole Showing;
1.62g/t Au, 7.87g/t Ag & 2.44% Zn over 2.15 metres, including 2.52 g/t Au, 5.60g/t Ag
and 3.14% Zn over 1.05 metres intersected in ML-18-017, representing a potential new
gold-silver-zinc mineralized zone discovery on the property.
Please refer to the October 1, 2018, October 24, 2018 and March 21, 2019 press releases for
details of these previously released drill results and link to the property Compilation – DDH
Plan map for the drill-hole locations.
2020 Proposed Exploration Program to focus on Pd-Pt Potential:
The primary exploration focus on the property will be to assess the immediate economic potential of
the high-grade Pd-Pt mineralization characterized by surface and drill sampling results from the Kell’s
Ni-Cu-PGE Showing.
A program of detailed mapping and surface sampling is recommended over the Kell’s Showing,
Waterhole Showing, T25 Trench and Kell’s Cabin Showing in an effort to define and characterize the
surface mineralization outlined in the 2018 surface stripping program.
Based on the results of this work, additional detailed geophysical surveys (magnetic, electromagnetic,
3D-induced polarization, and downhole IP)and 3D modelling are planned with the objective to aid in
the tracking of the nickel -copper-PGE mineralization associated with the Kell’s Showing and gold-
silver-zinc mineralization along strike and down-plunge for follow-up drill targeting.
Quality Assurance/Quality Control Protocol:
All diamond drilling sample batches (each individual hole), include 5% QA/QC samples consisting of
blanks and certified standards (Natural Resources Canada - CANMET). All grab and drillhole samples
were submitted to ALS Minerals, an accredited mineral analysis laboratory. Sample preparation was
completed in Val-d'Or, Québec and analyses in Vancouver, British Columbia. Nickel, copper, cobalt,
zinc and silver values were determined by a 61 element, Four Acid / ICP-AES analysis and gold values
were determined by a 30 -gram fire assay and AAS finish. Platinum, palladium and gold values were
determined by 30- gram fire assay with ICP finish. Samples, which received over -limit values,
underwent further analysis using ALS Minerals assay procedure Ni-OG62 (for nickel), Cu-OG62 (for
copper), Zn- OG62 (for zinc), and PGM -ICP27 (for gold, platinum and palladium). The reader is
referred to: www.alsgobal.com for details of analytical procedures described above.
Cleghorn Minerals has applied a rigorous quality assurance/quality control program at the Meech Lake
Project using industry practice. All core was logged and selected intervals sampled by a professional
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geoscientist. NQ drill core was sawn in half and each sample half was p laced in a marked sample bag
with its corresponding sample tag, then sealed. The remaining half core is retained in the original core
boxes that are stored in a secure facility in Val-d’Or, Québec.
Michael P. Rosatelli , M.Sc., P.Geo. and senior geologica l consultant to Cleghorn, is the designated
“qualified person” as defined in Section 1.2 in and for the purposes of National Instrument 43- 101 that
reviewed and approved the technical content of this release.
Additional Property Acquisitions:
Cleghorn is continuing due diligence on several property and/or transactional opportunities, in Canada and
separately, located in International jurisdictions, and will provide additional information should the
examinations lead to favourable conclusions and affordable transactions.
About Cleghorn Minerals Ltd.:
Cleghorn is a junior mineral exploration company with a 100% interest in the Meech Lake – Matachewan
Prospect, a property located in northeastern Ontario, subject to an aggregate 3.5% NSR.
For additional information, please contact:
Glenn J. Mullan, President, Chief Executive Officer, Secretary and Director
Telephone: (819) 824-2808 – Head Office
(514) 835-8384 – Cell Phone
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 news release.
This news release contains certain statements that may be deemed “forward- looking statements”. Forward -looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “ intends”, “estimates”, “projects”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Cleghorn
believes the expectations expressed in such forward -looking statements are based on r easonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from those in forward-
looking statements. Forward- looking statements are based on the beliefs, estimates and opinions of Cleghorn’s
management on the date the statements are made. Except as required by law, Cleghorn undertakes no obligation to
update these forward- looking statements in the event that management’s beliefs, estimates or opinions, or other
factors, should change.
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