Delta Accelerates Option Agreement to Acquire 100% Interest in the Delta-1 Project in
Delta Accelerates Option Agreement to Acquire 100% Interest in the Delta-1 Project in
Thunder Bay, Ontario.
April 18, 2023 / Kingston, ON / Newsfile Corp . Delta Resources Limited (“Delta” or “the Company”) ( TSX-
V:DLTA ) (OTCBB:DTARF ) ( FRANKFURT:6GO1 ) is pleased to announce that it has accelerated the completion of
an Option Agreement dated October 02, 2019 to acqui re a 100% undivided interest in the Delta-1 Gold pr operty
located 50 km west of Thunder-Bay, Ontario.
Delta paid $150,000 to the optionors, therefore accelerating the completion of the acquisition in the 245 claims that
were subject to an Option Agreement dated October 02, 2019. The claims are subject to a 1.75% Net Smelter Return
Royalty to the Optionor. Delta has the right to buy back 0.75% of the Royalty for the sum of $500,000 until October
02, 2026. Thereafter, Delta will have the right to purchase the remaining 1% Royalty for $4,000,000 at any time.
Delta 1 Project Update
At the end of March 2023, Delta completed 13 drill holes for a total of 3,506 metres at the Delta-1 project. The drilling
tested a 600 metres extension of the gold zone towards the east, extending the total strike length of the mineralized
zone to 1,5 kilometres. Assays are pending from seven (7) of these drill holes and results should be available within
a few weeks. Delta is currently planning an additio nal 5000 metre drill campaign and expects to announ ce a
resumption of drilling shortly.
The Delta-1 project is located in the Shebandowan G reenstone Belt and covers a 17 km strike extent of the
Shebandowan Structural Zone.
Mines and Money Mining Conference- London, UK
Delta is pleased to announce that Andre Tessier, Pr esident and CEO and Frank Candido, Chairman will be
participating at Mines and Money London Connect Con ference. Please meet us on April 25 and 26, 2023 fo r
Europe's premier mining investment event. The event is being held at County Hall in London, UK.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through
the exploration of two very high-potential gold and base-metal projects in Canada.
DELTA-1 covers 58.3 square kilometres located 50 k ilometres west of Thunder Bay, Ontario where a gold
mineralized zone 950 metres long was outlined through drilling in a multi-kilometre-scale intense alteration
halo. Best grades to date include a drill intercept of 14.8 g/t Au over 11.9 metres, within a broader interval
of 5.92 g/t Au over 31 m. The zone is open in all directions.
DELTA-2 VMS and DELTA-2 GOLD covers 194 square kil ometres in the prolific Chibougamau District of
Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as
hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt
were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
www.deltaresources.ca
We seek safe harbor. 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. The TSX Venture Exchange
has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
or
Andre Tessier, CEO and President
Tel: 613-328-1581
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are "forward-looking information" within the meaning of Canadian securities
laws. Generally, forward-looking information can be identified by the use of forward-looking terminolo gy such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such
words and phrases (including negative or grammatica l variations) or statements that certain actions, e vents or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned
that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual
facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated
by management. The forward-looking information contained in this press release constitutes management's current estimates,
as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as
new information is received. While we may elect to update these estimates at any time, we do not under take to update any
estimate at any particular time or in response to any particular event.