Eskay Mining Corp Announces Non -Brokered Private Placement and 2018 Exploration Plans: Targeting Nickel and Gold Along Border with Garibaldi Resources
1
82 Richmond Street East
Toronto, ON M5C 1P1
T: 416 907 4020
W: eskaymining.com
NEWS RELEASE
FOR IMMEDIATE RELEASE: MAY 11, 2018
Eskay Mining Corp Announces Non -Brokered Private
Placement and 2018 Exploration Plans: Targeting Nickel and
Gold Along Border with Garibaldi Resources
Toronto, May 11, 2018 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK)
(OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to announce that it is
commencing a private placement offering of up to 2,000,000 flow-through units (the “FT Units”)
of the Company at a price of $0.30 per FT Unit for up to $600,000 and up to 2,000,000 working
capital units (“WC Unit”) at a price of $0.25 per WC Unit for up to $500,000 (the “Offering”) to
fund its 2018 exploration.
Eskay is also pleased to announce the 2018 exploration plans for its Corey property, in NW
BC’s famed Golden Triangle. At the conclusion of an extensive data review and re-
interpretation, a highly effective and flexible exploration plan has been developed, with
contingencies for various outcomes at several stages.
The 2018 work will focus on the westernmost part of the Corey property, in a largely unexplored
belt adjacent to Garibaldi Resources’ E & L nickel discovery (see attached figure). At its
southern end, this belt encompasses the Company’s Red Lightning prospect, in which drilling
has returned up to 0.55% Ni over 10 m from magmatic sulphides hosted by mafic intrusive
rocks.
In the same area, a belt of quartz-sericite-pyrite altered volcanic rocks is coincident with an
extensive Au-in-soil geochemical anomaly and a number of encouraging broad and locally high-
grade drill intercepts (e.g. 99.4 g/t Au over 1.5 m) and chip samples of up to 51.9 g/t gold. This
is the partially-explored gold-rich C10-GFJ trend, within which a portion of the trend, bracketed
by some of the most encouraging drill and surface sampling results, remains untested.
Exploration will begin with a deep-imaging VTEM airborne geophysical survey, which has been
employed to great effect by Garibaldi Resources. The survey will be flown over the length of the
prospective belt, encompassing our virtually unexplored western border next to Garibaldi
Resources and Metallis Resources, and extending southeast over the Red Lighting Ni-Cu
Trend. An extensive ground-based field program will follow, consisting of prospecting, rock, soil,
and stream sediment sampling, along with reconnaissance mapping. The work on the ground
will help to identify drill targets.
2
82 Richmond Street East
Toronto, ON M5C 1P1
T: 416 907 4020
W: eskaymining.com
3
82 Richmond Street East
Toronto, ON M5C 1P1
T: 416 907 4020
W: eskaymining.com
Each FT Unit comprises one (1) common share of the Company and one-half (½) of one (1)
common share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to acquire
one (1) common share at a price of $0.40 until the earlier of (i) two (2) years from closing of the
Offering (the “Closing”); and (ii) in the event that the closing price of the common shares on the
TSX Venture Exchange is at least $0.60 for ten (10) consecutive trading days, and the 10th
trading day (the “Final Trading Day”) is at least four (4) months from the Closing, the date
which is thirty (30) days from the Final Trading Day (the “Trigger Date”).
Each WC Unit comprises one (1) common share of the Company and one (1) common share
purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to acquire one (1)
common share at a price of $0.40 until the earlier of (i) two (2) years from the Closing; and the
Trigger Date.
All securities issued pursuant to the Offering are subject to a statutory four month hold period
and regulatory approval.
A Communication Agreement with the Tahltan First Nation is now in place, and Camp permitting
is well underway. Overall, the outlined 2018 plans will leave us well poised for a highly effective
2019 season, with excellent drill targets based on solid geological, geochemical and
geophysical data.
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.
For further information about Eskay Mining Corp. and detailed information about the above
mentioned prospects, please see our corporate presentation titled “April 2018 Property Review
& Targeting” at http://eskaymining.com/files/Eskay-Mining-Corp-April-2018-Presentation-
Final.pdf.
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 Rif t 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.eskayminin g.com
and on SEDAR at www.sedar.com.
4
82 Richmond Street East
Toronto, ON M5C 1P1
T: 416 907 4020
W: eskaymining.com
For further information, please contact:
Mac Balkam T: 416 907 4020
President & Chief Executive Officer E: [email protected]
Neither the TSX V enture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX V enture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Forward-Looking Statements: This Press Release contains forwar d-looking statements that
involve risks and uncertainties, which may cause actual results to differ materially from the
statements made. When used in this document, the words “may”, “would”, “could”, “will”,
“intend”, “plan”, “anticipate”, “believe”, “esti mate”, “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 prog rams, the general
risks associated with the mining industry, the price of gold and other metals, currency and
interest rate fluctuations, increased competition and general economic and market factors, occur
or should assumptions underlying the forward look ing statements prove incorrect, actual results
may vary materially from those described herein as intended, planned, anticipated, or expected.
We do not intend and 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.