Etruscus Reveals New Field Plans & Announces $1 Million Private Placement Financing
ETRUSCUS REVEALS NEW FIELD PLANS &
ANNOUNCES $1 MILLION PRIVATE
PLACEMENT FINANCING
July 8, 2020
Vancouver, BC: Etruscus Resources Corp. (CSE: ETR) (FSE: ERR) (the “Company”
or “Etruscus”) announces amended plans for its Phase 1 field exploration which now
includes a seventh priority area added to its original list of key targets on the Company’s
27,136 hectare Rock & Roll and Sugar Properties, located in the heart of the Eskay Camp
in Northwest British Columbia’s Golden Triangle.
Highlights:
• Hoodoo East , along trend from neighbouring Enduro Metal’s significant drill
intercept and recently identified gold targets (announced July 6, 2020) , has just
been upgraded in priority for immediate exploration. An extensive work program
will be executed in this underexplored area for potential future drilling;
• Mineralization highlighted by Enduro ’s news demonstrates the skarn potential in
the area, and multiple, prospective skarn showings found in 2019 at Rock & Roll
suggests high-grade gold-silver resource potential; and
• A d rilling program is expected to follow several weeks of field sampling,
prospecting and mapping of all 7 potential drill targets and 7 areas of priority.
The Company also announces, subject to Canadian Securities Exchange (“CSE”)
approval, a proposed non-brokered private placement of up to $1,000,000. Proceeds of
the financing, consisting of up to 1.3 million flow-through units at a price of $.50 per unit
for proceeds of up to $650,000 and 1 million non-flow-through units at a price of $0.35
per unit for proceeds of up to $ 350,000, will be used for both exploration and general
working capital.
Each flow-through unit will consist of one flow -through common share and one -half (½)
of one non -flow-through share purchase warrant. Each whole warrant will entitle the
holder to purchase one additional common share at a price of $0.6 5 per share for a 2 -
year period.
Each non-flow-through unit will consist of one common share and one -half (½) of one
share purchase warrant . Each whole warrant will entitle the holder to purchase one
additional common share at a price of $0.50 per share for a 2-year period.
The flow-through shares will qualify as “flow -through shares” for the purposes of the
Income Tax Act (Canada) (the “Act”). The Proceeds of the flow-through private placement
will be used to incur “Canadian exploration expense” (within the meaning of the Act). The
Company will renounce these expenses to the purchasers with an effective date of no
later than December 31, 2020, and as required under the Act.
This news release does not constitute an offer to sell or a solicitation of an offer to buy
any of t he securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available.
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 2 7,136
hectares near the past producing Snip mine in Northwest B.C.’s prolific Golden Triangle.
Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange a nd
“ERR” on the Frankfurt Stock Exchange and has 22,453,501 common shares issued and
outstanding.
On behalf of the Board of Directors:
/s/ “Gordon Lam”
Chief Executive Officer, President and Director
For further information:
Tel: 604-336-9088
Email: [email protected]
Web: www.etruscusresources.com
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute ‘forward -looking’ statements, including
statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or
its officers with respect to the future business activities and operating performance of the Company. The words
“may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar
expressions, as they relate to the Company, or its management, are intended to identify such forward-looking
statements. Investors are cautioned that any such forward-looking statements are not guarantees of future
business activities or performance and involve risks and uncertainties, and that the Company’s future
business activities may differ materially from those in the forward-looking statements as a result of various
factors. Such risks, uncertainties and factors are described in the periodic filings required by the Canadian
securities regulatory authorities, including quarterly a nd annual Management’s Discussion and Analysis,
which may be viewed at www.sedar.com. Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward -looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned, anticipated, believed, estimated or
expected. Although the Company has attempted to identify important risks, uncertainties and factors which
could cause actual results to differ materially, there may be others that cause results not to be as intended,
planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume
any obligation, to update these forward-looking statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE)
accepts responsibility for the adequacy or accuracy of this release.