Etruscus Intersects Massive and Semi-Massive Sulphides; Closes $1.5 Million Financing with Lead Order from Palisades Goldcorp
NEWS RELEASE Symbol: CSE: ETR, FSE: ERR
September 15, 2020 For Immediate Dissemination
ETRUSCUS INTERSECTS MASSIVE AND
SEMI-MASSIVE SULPHIDES; CLOSES $1.5
MILLION FINANCING WITH LEAD ORDER
FROM PALISADES GOLDCORP
Vancouver, BC: Etruscus Resources Corp. (CSE: ETR) (FSE: ERR) (the “Company” or
“Etruscus”) is pleased to announce that the Company has intersected multiple zones of massive
and semi-massive sulphides (assays pending) during deep drilling at its Rock & Roll Property
located in the Eskay Camp of Northwest B.C.’s prolific Golden Triangle. The Company is
currently reviewing early results for potential further drill testing to expand its gold-silver rich
Black Dog Deposit. After completing its initial drill target, Etruscus has immediately directed its
aim at other targets confirmed in Phase 1 of its program.
Highlights:
• RR20-09: Three separate lenses of mineralization have been hit containing massive,
semi-massive and disseminated sulphide totaling 9.5 meters (m), including two lenses
within a 12.8 m zone (Click Here to View Image);
• The sulphide included abundant sphalerite (zinc) and chalcopyrite (copper) that has in
the past been correlated to elevated precious metal content;
• A fault zone is emerging as an important structural feature as it has been noted in
multiple deep drill holes and may have implications for offset deeper mineralization; and
• Drilling has moved to “Brown Sugar”, a shallow portion of “The Wall” target that occurs at
depth. It is down-dip of and has a footprint 10 times the size of the Black Dog deposit.
Further to its press release from August 17, 2020, the Company announces the closing of its
non-brokered private placement with a second and final tranche of $279,650 for a total of
$1,499,550 raised, with a lead order from Palisades Goldcorp.
In this second tranche, 390,000 non-flow-through units were issued at a price of $0.35 per unit
for proceeds of $143,150, with each unit consisting of one (1) common share and one (1) non-
transferable share purchase warrant. Each warrant is exercisable for a period of three (3) years
for the purchase of one (1) additional common share at a price of $0.50 per share.
318,111 flow-through units were also issued for at a price of $0.45 per unit for proceeds of
$143,150, with each flow-through unit consisting of one (1) flow-through common share and one
(1) non-flow-through, non-transferable share purchase warrant. Each warrant is exercisable for
a period of three (3) years for the purchase of one (1) additional non-flow-through common
share at a price of $0.60 per share.
NEWS RELEASE Symbol: CSE: ETR, FSE: ERR
September 15, 2020 For Immediate Dissemination
Gordon Lam, CEO commented, “After months of thorough analysis and research, we are now at
a stage where we believe we can take the next step in Etruscus’ growth. Drilling is expected to
help confirm our belief that we possess multiple potential large-scale targets that could lead to
multi-million ounce resources.”
The Company paid finder’s fees of $4,060 and 11,200 finder’s warrants to arm’s length parties
in connection with the second tranche of the private placement as permitted by securities law.
The finders’ warrants are exercisable at $0.45 per share for a three (3) year period.
All shares issued under the private placement including those issued under the first tranche are
subject to a hold period of four months and one day, from the date of issuance.
Proceeds of the non -flow-through financing will be used for exploration and general working
capital. The gross proceeds from the flow-through f inancing will be used to fund Canadian
Exploration Expenses (within the meaning of the Income Tax Act (Canada)) which shall qualify
as "flow-through mining expenditures", for purposes of the Income Tax Act (Canada), related to
the Company's Rock & Roll and Sugar properties in BC.
Qualified Person
Technical aspects of this news release have been reviewed and approved by Dr. Dave R. Webb,
Ph.D., P.Geo, who is a Qualified Person as defined under National Instrument 43-101.
QA/QC
Etruscus Resources has implemented a rigorous quality assurance / quality control (QA/QC)
program to ensure best practices in sampling and analysis of rock and bark samples. All assays
are performed by MSA Labs Ltd ., with sample preparation carried out at the MSA facility in
Terrace, BC, and assays at the Langley laboratory. All Samples are shipped in secure and sealed
bags from site to MSA prep labs in Terrace. Certified blanks and standards are inserted into the
sample stream to 10%.
About Palisades Goldcorp
Palisades Goldcorp is Canada's new resource focused merchant bank. Palisades' management
team has a demonstrated track record of making money and is backed by many of the industry's
most notable financiers. With junior resource equities valued at generational lows, management
believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with
significant stakes in undervalued companies and assets with the goal of generating superior
returns.
About Etruscus
Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development
of its 100%-owned Rock & Roll and Sugar properties comprising 27,136 hectares near the past
producing Snip mine in Northwest B.C.’s prolific Golden Triangle.
NEWS RELEASE Symbol: CSE: ETR, FSE: ERR
September 15, 2020 For Immediate Dissemination
Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange and “ERR” on the
Frankfurt Stock Exchange and has 26,608,056 common shares issued and outstanding.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release may contain forward -looking statements that involve
substantial known and unknown risks and uncertainties. All statements other than statements of historical
fact are forward -looking statements, including, without limitation, statements regarding future financial
position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnership s, joint-
ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving
the Company. Such forward -looking information reflects management’s current beliefs and is based on
information currently available to management. Often, but not always, forward-looking statements can be
identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or
variations (including negative variations) of such words and phrases or may be identified by statements to
the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or
be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual
results or performance to materially differ from any future results or performance expressed or implied by
the forward -looking information. These forward -looking statements are subject to numero us risks and
uncertainties, certain of which are beyond the control of the Company including, but not limited to, the
impact of general economic conditions, industry conditions and dependence upon regulatory approvals.
Certain material assumptions regardin g such forward-looking statements may be discussed in this news
release and the Company’s annual and quarterly management’s discussion and analysis filed at
www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements. The Company does not assume any obligation
to update or revise its forward -looking statements, whether as a result of new information, future events,
or otherwise, except as required by securities laws.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
The Shares have not been, nor w ill they be, registered under the United States Securities Act of 1933, as
amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the
account or benefit of any person in the United States, absent registration or an applicable exemption from
the registration requirements. This press release shall not constitute an offer to sell or the solicitation of
Company Contact
Gordon Lam, CEO
Email: [email protected]
Telephone: 604-336-9088
Website: www.etruscusresources.com
NEWS RELEASE Symbol: CSE: ETR, FSE: ERR
September 15, 2020 For Immediate Dissemination
an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful. We seek safe harbour.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies
of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
Not intended for distribution to United States Newswire Services or for dissemination in the United States.
Any failure to comply with this restriction may constitute a violation of United States Securities laws.