2019 Overview and Strategy Dear Shareholders/Investors,
New Nadina Explorations LimitedTSX-V-NNA Box 130, 1215 Greenwood Street, Greenwood BC V0H 1J0 Phone (250) 445-2260, Fax (250) 445-2259 Email: [email protected]
February 27, 2019
2019 Overview and Strategy
Dear Shareholders/Investors,
We are contacting you, our shareholders, to provide an update on your Company's plans for 2019 and to seek your support in our financing activities this year to unlock the potential of the Company's Silver Queen Project in Central British Columbia.
Our strategy for 2019 is to raise funds in a systematic manner that minimizes share dilution and maximizes the opportunity for positive results from an exploration/drill program in combination with a Preliminary Economic Assessment compliant (PEA) of the No. #3 Vein.
| In 2019, your Company plans to engage P&E Mining Consultants to complete an NI 43-101 | |
| Mineral Resource Estimate and PEA which includes an economic evaluation and further data for | |
| the determination of the production potential of the property. | The PEA is estimated at CDN |
$300,000.
To complement the PEA, Nadina has defined five drill targets for the 2019 campaign. The first phase and the primary focus for its next capital raise will be for a 9-hole (2,000m) program designed to extend the high-grade zone at the south end of No. 3 Vein, previously intercepted in eight holes drilled at the South end in 1988-99 (see Table I and following longitudinal section showing the 1988-89 hole intercepts in red). These were drilled by Houston Metals Inc under a joint-venture agreement with New Nadina Explorations Limited.
The Phase One drill program is estimated at CDN $400,000.
Table I
| Hole No. | True Width (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|
| S88-57 | 3.17 | 7.070 | 318.8 | 1.46 | 2.40 | 8.23 |
| S88-58 | 2.34 | 19.603 | 900.0 | 0.92 | 1.03 | 20.01 |
| U89-1 | 2.77 | 6.697 | 347.5 | 0.48 | 3.06 | 9.46 |
| U89-3 | 1.60 | 6.936 | 483.3 | 1.23 | 2.39 | 7.27 |
| U89-4 | 0.62 | 23.246 | 679.9 | 0.96 | 1.50 | 2.76 |
| U89-5 | 2.44 | 7.131 | 367.1 | 0.89 | 1.82 | 7.98 |
| U89-7 | 1.12 | 8.501 | 153.3 | 0.20 | 0.40 | 1.02 |
| U89-8 | 3.09 | 0.863 | 108.5 | 0.27 | 0.51 | 3.64 |
The first-phase proposed financing will be at a minimum of CDN $0.10 per unit; where each unit is comprised of one common share and one purchase share warrant exercisable at CDN $0.10 cents per share during the first year and CDN $0.15 cents per share during the second year.
This pricing is for compliance with the policies of the TSX Venture Exchange for use of proceeds. Management is confident that this minimum financing level can be achieved and will seek to raise the necessary funds through its network as well as through existing shareholder participation.
Based on a successful drill program in phase I, the Company will follow up with a future financing and/or warrant exercise for Phase II, which will continue to advance the Silver Queen project.
The Company is still enthusiastic regarding the ltsit copper-gold-molybdenum porphyry which was discovered in 2011, following airborne and ground geophysical surveys. It lies south of the No. 3 and NG-3 Veins, and provided the heat source for these epithermal veins. 19 holes totaling 8,903m were drilled in the porphyry during 2011-13. As previously reported, the most interesting hole, 12S-05, intercepted 144m @ 0.379 gpt gold, 0.279 % Cu and 0.041% Mo, representing a 0.655% copper equivalent from 306-450m.
As previously announced, Nadina hired Bruce McKnight, P. Eng. to evaluate the Monument diamond property at Lac de Gras in the NWT, in which NNA has a 57.49% interest and is the Operator. While your company is seeking a major producer to develop this property, we are also proceeding to obtain a new Land Use Permit because the present one expires in September, 2019.
Management is committed to finding a path to creating shareholder value by advancing its highly prospective projects. Shareholders who have an interest in participating in the company's private placements and would like further information are encouraged to contact the Company representative at (250) 445-2260 or [email protected].
The technical content disclosed in this news release was reviewed and approved by Mr. James Hutter, P. Geo., who is the Company’s Qualified Person as per NI 43-101.
Please visit New Nadina's website at www.nadina.com
Sincerely,
John W. Jewitt,
President
Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements reflect management’s current assumptions and expectations regarding future work programs (such as those planned for the Silver Queen Project), results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results and the estimation of mineral resources and reserves; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.