Berkwood Acquires Cobalt Ford Property, Quebec
14th Floor - 1111 West Georgia Street, Vancouver, BC, V6E 4M3
Tel. 604-689-1799 Fax.604-689-8199
email: [email protected]
Website: www.berkwoodresources.com
June 5, 2017 TSX-V SYMBOL: BKR
BERKWOOD ACQUIRES COBALT FORD PROPERTY, QUEBEC
Berkwood Resources Ltd. (“Berkwood”) (TSX -V: BKR) announces it has entered into an agreement to acquire
1084422 B.C. Ltd., a private B.C. Company, which sole asset is the Cobalt Ford Property. The Cobalt Fold Property
(the “Property”) is located in the Côte-Nord area of Quebec. The Property is made of one block of 40 claims, totaling
approximately 2,176.19 hectares or 21.76k m2. The Property is situated near extensive infrastructure. The Manic 5
hydro electrical dam is located approximately 15 km south of the Property and can provide lodging, food and other
services as well as an airport.
Geological mapping in the area of the Property was performed in 1977, 1997, 2005 and 2006, and revealed the
presence of multiple sulphide mineralization. Cobalt values of 904.3ppm and 1480ppm have been returned from rock
sampling. A drilling campaign happened in 2006, which focused on t he western half of the property. In 1996, 2004
and 2006, airborne magnetic and radiometric surveys were performed over the property.
The Property contains three base metal showings. The Lac Paradis 1 showing is located on the western part of the
Property and was drilled by Quinto Technology. Best results returned 4.64% Ni, 2.37% Cu, 0.12% Co, 19ppb Pt,
110ppb Pd and 168ppb Au. In the center of the P roperty is the anomaly EM C2 showings which returned up to
1554ppm Cu, 229ppm Ni and 5.6ppm Ag. On the eastern part of the property is the anomalies EM E2 showing, which
returned up to 0.19% Cu, 0.09% Ni, 0.04% Co and 3.1ppm Ag.
In the vicinity of the Property there are numerous base metal showings. Approximately 6km south of the Property is
the Anomalies EM H1 -H2. Grab samples were collected and the b est samples returned 0.16% Ni, 0.67% Cu and
0.02% Co. Located 10km east of the Cobalt Ford Property is the anomaly K15L2. Grab samples were collected on
this anomaly and the b est samples returned 0.50% Cu. Figure 1 shows the location of the showings and the claim
package. The Company intend s to explore the Property using till sampling and prospecting as part of its summer
exploration program.
Figure 1: Pending Claims on the Property
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The acquisition is an arm s-length transaction in which the Company will issue 2,400,000 common shares by way of
a share exchange agreement and a cash payment of $15,000 . There are no royalties payable and the Company will
own 100 % of the Property. The issuance of the acquisition is subject to TSX Venture Exchange approval.
Rémi Charbonneau, Ph.D., P. Geo #290 (an Associate of Inlandsis Consultants s.e.n.c.) is an Independent Qualified
Person under National Instrument 43 -101 and has reviewed and approved the technical information provided in this
news release.
ON BEHALF OF THE BOARD
Signed: “Thomas Yingling”
Thomas Yingling,
President and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward -looking statements, which reflect the expectations of management. Forward-looking statements
consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or inte ntions regarding the
future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given that any of the events anticipated by the forward -looking statements will
occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current
views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.
Neither 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.