Navy Resources Corp. To Proceed with Option Agreement to Acquire Hot Springs Mineral Prospect, Nevada
NAVY RESOURCES CORP.
Suite 1740 -1177 West Hastings Street
Vancouver, BC V6E 2K3
FOR IMMEDIATE RELEASE April 20, 2020
Navy Resources Corp. To Proceed with Option Agreement to Acquire
Hot Springs Mineral Prospect, Nevada
Navy Resources Corp. (TSX-V: NVY) (the “ Company”) is pleased to announce that it has received all
necessary regulatory approvals to proceed with its proposed arm’s length option agreement (see news
release dated March 6, 2020) whereby the Company has the exclusive right to earn a 100% interest in 168
unpatented mining claims covering approximately 1,375 hectares, located on the Getchell gold trend in
Humboldt County, Nevada referred to as the “Hot Springs Range Property”. The Company will
immediately pay the first year’s option requirement of US$36,140, issue 100,000 shares and looks forward
to beginning the stage 1 recommended exploration program of approximately $100,000. A second stage
exploration program is contingent on the results of stage 1.
Paul Sun, President and CEO of the Company, stated: “We are pleased to complete the acquisition of the
option on the Hot Springs Range Gold Property in Nevada. The project represents a new gold target that
has not been previously considered or explored in Nevada. We are looking forward to advancing the
project towards the drill ready stage later this year.”
The Hot Springs Range Property consists of previously unexplored mining claims and shows similar
structural setting, lithological, alteration, and regional geochemical characteristics with the Getchell Trend
and associated Turquoise Ridge and Twin Creek deposits. The Property is easily accessible allowing for
year-round exploration and is within 20km of 120kV electric power transmission lines. All scientific and
technical information in this news release has been prepared by, or approved by Bryan Atkinson, PGeo.
Mr. Atkinson is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure
for Mineral Projects.
On behalf of the Board of Directors,
“Martin Bajic”
CFO and Director
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.