Goldcore acquires Stallion Property Contiguous to Benchmark Metals “Lawyers” Au/Ag and Announces Private Placement
2200 – 1250 Rene Levesque Blvd. Montreal, QC, H3B 4W8
Phone: (438) 469-0705
#1100 - 1111 Melville Street, Vancouver, BC, V6E 3V6
Phone: (604) 343-7740
EMail: [email protected]/
Website: www.goldcoreresources.com
Goldcore acquires Stallion Property Contiguous to Benchmark Metals
“Lawyers” Au/Ag and Announces Private Placement
October 27th, 2020, VANCOUVER, B.C. - Goldcore Resources Ltd. (TSX-V: GEM, FSE: BK2P, WKN:
A2QENP) (“Goldcore” or the “Company”) is pleased to announce that it has entered into a definitive
agreement to acquire mineral claims highly prospective for gold and silver.. The “Stallion Project,” in British
Columbia's famous Golden Horseshoe region, is contiguous to Benchmark Metals Inc.'s Lawyers gold and
silver project. The Lawyers project has reported core length intervals from drill intercepts of 2,360 grams per
tonne (g/t) silver and 11.30 g/t gold over one metre, 1.16 g/t gold and 22.24 g/t silver or 1.44 g/t gold equivalent
across 102.00 metres , as well as 30.63 metres of 2.05 g/t gold and 107.07 g/t silver or 3.39 g/t gold equivalent
(see news releases, 2020-02-11, 2020-01-31 and 2020-10-06). Goldcore’s Stallion property is contiguous with
Benchmarks southernmost claim border (see map below).
Stallion Property
Goldcore’s Stallion property is accessible by an existing short extension of the all -season Omineca Road to
Resources which services the Kemess mine and supports parallel hydro- electric power. Stallion covers over
30 km² and is on regional trend with several past producing mines such as Baker, Shasta and the world class
Kemess Mine. Management cautions that mineralization hosted on adjacent and/or nearby properties is not
necessarily indicative of mineralization hosted on the Company’s properties.
The Stallion property is located in the northeastern region of the prolifically metal-endowed Stikinia geological
terrane. Magmatic events in Stikinia during the Late Triassic and Early Jurassic were the driving source for
the development of mineralizing porphyry and epithermal systems. The Stallion project is in a proven and
profitable mining jurisdiction called the Golden Horseshoe, and is only 28 km northwest of the past producing
world class Kemess gold -copper mine. The Golden Horseshoe provides a visual context for the mines,
discoveries and common geology of the Golden Triangle and Toodoggone regions of nort hern BC, which
forms an enriched metalliferous arch that includes the Stikinia and Quesnellia terranes.
Benchmark recently completed an oversubscribed financing raising over $50- million (see Benchmark news
release of September 30th, 2020). Proceeds from that financing will be used to extend and expand the 2020
drill program to 100,000 metres and a planned 2021 200,000 metre drill program as well as prepare for a
resource estimate and preliminary economic assessment early in 2021.
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Acquisition Terms
The Company has entered into an arm’s length definitive agreement with a private company and its
shareholders (collectively the “Vendor”) pursuant to which the Company has agreed to acquire all of the issued
and outstanding shares of the Vendor by the issuance of 4,000,000 common shares of the Company in
consideration for the acquisition . The agreement is subject to normal course due diligence and applicable
regulatory approval.
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Private Placement
The Company announces a non-brokered private placement to raise up to $1,500,000 consisting of 15,000,000
units at $0.10 per unit. Each unit will consist of one common share and one share purchase warrant, with each
warrant exercisable into one common share at $0.20 for a two-year term. The term of the warrants to be issued
may be accelerated by the Company in the event that the Company’s shares trade at or above $0.25 cents for
a period of 10 consecutive days. In such case of accelerated warrants, the Company may give notice, in writing
or by way of news release, to the holders that the warrants will expire 30 days from the date of providing such
notice. The Company may pay a finder’s fee in association with the placement and paid in accordance with
applicable laws. Proceeds of the private placement will be used for working capital and continued exploration
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on the Company’s properties. The issuance of the securities is subject to the final approval of the TSX Venture
Exchange.
David Kelsch P.Geo., is a Qualified Person under the definition of Canadian National Instrument 43-101, and
has approved the technical information in this news release.
About the Com pany: Goldcore Resources is managed by a team with over 200 years collectively with a
proven track record of not just finding numerous mines but building and operating them too. The Goldcore
management team’s most recent success is the discovery of the L ac Gueret South a Graphite resource in
Northern Quebec. Goldcore owns this asset 100 percent and the Company’s shareholders will benefit from
this asset when the demand for Graphite projects improves.
On Behalf of the Board of Directors
Goldcore Resources Ltd.
‘Thomas Yingling’
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
or 1-604-343-7740
[email protected] www.goldcoreresources.com
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 intentions 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 .