Eskay Mining Announces SSR Mining’s P lan to Terminate SIB Property Exploration Agreement
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NEWS RELEASE
FOR IMMEDIATE RELEASE: NOVEMBER 9, 2018
Eskay Mining Announces SSR Mining’s P lan to Terminate SIB Property
Exploration Agreement
Toronto, November 9, 2018 - Eskay Mining Corp. (“Eskay” or the “Company”)
(TSX-V:ESK) (OTC -PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to
announce that SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (“ SSR Mining”) has
advised the Company that it intends to terminate th e option agreement originally
announced in the Company’s press release dated April 26, 2017 and return the SIB
property to the Company by year -end 2018 . The Company is currently analyzing the
final results of the 2018 exploration program completed by SSR Mining , referred to in
the Company’s press release of October 19, 2018.
On review of the data, there is strong evidence for a very active and as-yet untested
volcanic environment in the Coulter Creek footwall, within identical host lithologies to the
nearby world class Eskay Creek deposit . Geophysical and geological modelling
indicates that the favourable and untested stratigraphy extends to the south of the area
drilled, and the SIB programs have demonstrated that it is well within reach.
Mac Balkam, President and CEO of Esk ay Mining, stated: “While we understand that
SSR Mining is intending to terminate the agreement, we thank them, and our field crew,
for their substantial commitment to exploration at SIB (SSR Mining invested $7.7 million
on the property). We are also very excited by the prospect of continuing to explore the
large and undrilled tract of Eskay -like stratigraphy that underlies relatively thin cover
rocks across most of the SIB property, and perhaps across much of the Company’s
immediately adjacent Corey property to the south. T he well-executed SSRM programs
have clearly shown that this area includes rocks which are similar to those hosting the
nearby Eskay Creek Mine deposits, and that they have only begun to be drill -tested.
With exploration once again v ery active at the nearby Mine property we remain positive
about the prospects at SIB.”
Additionally, drilling of the Coulter Creek hanging wall revealed n umerous broad
intercepts of polymetallic sulfide veining within silicified volcanic and volcanicl astic
rocks, consistent with VMS feeder style mineralization at encouraging stratigraphic
positions within our geological model. The C ompany is currently reviewing all of the
data in detail and formulating future exploration plans for this and other areas at SIB. All
assay results have now been received and are being prepared and interpreted for
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Toronto, ON M5C 1P1
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formal reporting to SSRM. They will also be summarized and reported in a forthcoming
news release.
The property under option to SSR Mining represents approximately 9% of the
Company’s land package in the Golden Triangle of northwest British Columbia.
For further information regarding the SIB property, see the Company’s Press
Releases of October 17, 2016, August 8, 2016, May 9, 2016 and January 2 2, 2018. For
further information regarding Eskay Mining Corp.’s prospects and showings at the
Corey property, see the Company’s corporate presentation entitled “April 2018 Property
Review and Targeting”.
Charles J. Greig, P. Geo., a member of the Company’s Advisory Team, is a Qualified Person
under the definition of National Instrument 43 -101. Mr. Greig has reviewed and approved the
technical information in this press release.
About Eskay Mining Corp:
Eskay Mining Corp (TSX -V:ESK) is a TSX Venture Exchange listed company,
headquartered in Toronto, Ontario. Eskay is an exploration company focused on the
exploration and development of precious and base metals in British Columbia in a
highly prolific, poly metallic area known as the Eskay Rift Belt located in the “Golden
Triangle”, 70km northwest of Stewart, BC. The Company currently holds mineral
tenures in this area comprised of 177 claims (130,000 acres).
All material information on the Company may be found on its website at
www.eskaymining.com and on SEDAR at www.sedar.com.
For further information, please contact:
Mac Balkam T: 416 907 4020
President & Chief Executive Officer E: [email protected]
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.
Forward-Looking Statements: This Press Release contains forward -looking
statements that involve risks and uncertainties, which may cause actual results to differ
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materially from the statements made. When used in this document, the words “may”,
“would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and
similar expressions are intended to identify forward -looking statements. Such
statements reflect our current views with respect to future events and are subject to
risks and uncertainties. Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in filings made by us with
the Canadian securities regulatory authorities. Should one or more of these risks and
uncertainties, such as actual results of current exploration programs, the general risks
associated with the mining industry, the price of gold and other metals, cur rency and
interest rate fluctuations, increased competition and general economic and market
factors, occur or should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described herein as in tended,
planned, anticipated, or expected. We do not intend a nd do not assume any obligation
to update these forward -looking statements, except as required by law. Shareholders
are cautioned not to put undue reliance on such forward-looking statements.