First Legacy Mining Corp. Announces the Acquisition of Additional Mineral Claims in the Athabasca Basin
First Legacy Mining Corp. Announces the
Acquisition of Additional Mineral Claims in the
Athabasca Basin
VANCOUVER
,
Nov. 14, 2018
/CNW/ - First Legacy Mining Corp. (the "
Company
") (TSX-V: FLM) is
pleased to announce that it has signed an agreement to acquire two mineral claims totalling
approximately 8129.80 hectares located in the
Athabasca
Basin in
Saskatchewan, Canada
, known
as the "Klaproth and Klaproth East Claims" (the "
Property
") by issuing 1,800,000 common shares
and paying
$10,000
in cash to the two arm's length vendors (the "
Vendors
") of the Property. The
acquisition of the Property and the issuance of the common shares are subject to TSX Venture
Exchange approval. The common shares to be issued to the Vendors will be subject to a four month
hold period from the date of issuance.
"We are excited by the positive momentum being shown in the uranium sector, with the uranium spot
price reaching 30-month highs. We are pleased to be adding to our project portfolio in the
northeastern
Athabasca
Basin, and with this acquisition it will bring our total land package to over
23,000 acres." commented
Max Sali
, CEO and Director of the Company.
The scientific and technical information contained in this news release has been reviewed and
approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB
, a "Qualified Person" as defined in National Instrument 43-101 –
Standards of
Disclosure
for Mineral Projects
.
About First Legacy Mining Corp.
First Legacy Mining Corp. is a mineral exploration company focused on the acquisition, exploration
and development of mineral resource properties.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that constitute "forward-looking information" within
the meaning of applicable securities law, including without limitation, statements that address the
acquisition of the Property and the issuance of the common shares, and other statements relating
to the business prospects of the Company.
Forward-looking statements or information address future events and conditions and are
necessarily based upon a number of estimates and assumptions. These statements relate to
analyses and other information that are based on forecasts of future results, estimates of amounts
not yet determinable and assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always, using words or phrases such
as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved), and variations of such words, and similar
expressions are not statements of historical fact and may be forward-looking statements. Forward-
looking statement are necessarily based upon a number of factors that, if untrue, could cause the
actual results, performances or achievements of the Company to be materially different from future
results, performances or achievements express or implied by such statements. Such statements
and information are based on numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in the future, including the price
of metals, anticipated costs and the ability to achieve goals, that general business and economic
conditions will not change in a material adverse manner, that financing will be available if and
when needed and on reasonable terms, and that third party contractors, equipment and supplies
and governmental and other approvals required to conduct the Company's planned exploration
activities will be available on reasonable terms and in a timely manner. While such estimates and
assumptions are considered reasonable by the management of the Company, they are inherently
subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause
actual events, level of activity, performance or results to differ materially from those reflected in
the forward-looking statements, including, without limitation: (i) risks related to gold, copper and
other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of
exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates
and the potential for unexpected costs and expenses; (iv) that resource exploration and
development is a speculative business; (v) that the Company may lose or abandon its property
interests or may fail to receive necessary licences and permits; (vi) that environmental laws and
regulations may become more onerous; (vii) that the Company may not be able to raise additional
funds when necessary; (viii) the possibility that future exploration, development or mining results
will not be consistent with the Company's expectations; (ix) exploration and development risks,
including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated
difficulties with or interruptions in exploration and development; * competition; (xi) the potential for
delays in exploration or development activities or the completion of geologic reports or studies;
(xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related
to environmental regulation and liability; (xiv) risks associated with failure to maintain community
acceptance, agreements and permissions (generally referred to as "social licence"), including local
First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits,
approvals and authorizations relating to the continued exploration and development of the
Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and
regulatory risks associated with mining and exploration; (xix) risks related to current global
financial conditions; and (xx) other risks and uncertainties related to the Company's prospects,
properties and business strategy. These risks, as well as others, could cause actual results and
events to vary significantly.
There can be no assurance that economic resources will be discovered or developed at the
Company's projects. Accordingly, actual results may differ materially from those currently
anticipated in such statements.
Factors that could cause actual results to differ materially from those in forward looking statements
include, but are not limited to, continued availability of capital and financing and general economic,
market or business conditions, the loss of key directors, employees, advisors or consultants,
adverse weather conditions, equipment failures, failure of counterparties to perform their
contractual obligations and fees charged by service providers. Investors are cautioned that
forward-looking statements are not guarantees of future performance or events and, accordingly
are cautioned not to put undue reliance on forward-looking statements due to the inherent
uncertainty of such statements. The forward-looking statements included in this news release are
made as of the date hereof and the Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as expressly required by applicable securities legislation.
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 release.
SOURCE
First Legacy Mining Corp.
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For further information:
Todd Hanas, Bluesky Corporate Communications Inc., Vice President,
Investor Relations, Tel: (778) 994 8072, Email: [email protected]
CO: First Legacy Mining Corp.
CNW 05:00e 14-NOV-18