Firefox GOLD Acquires Must Ajärvi GOLD Project IN Central Lapland Greenstone Bel T (Finland)
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FIREFOX GOLD ACQUIRES MUST AJÄRVI GOLD PROJECT IN
CENTRAL LAPLAND GREENSTONE BEL T (FINLAND)
VANCOUVER, BC – (December 20, 2017) – FireFox Gold Corp. (“FireFox” or the “Company”) announces that
it has entered into a binding Agreement to purchase 100% of the Mustaja rvi gold exploration project in the
Lapland region of Finland (“Mustaja rvi” or “the Project”). The vendor is Finnish junior exploration company
Aurora Exploration Ltd. (“Aurora”).
Mustaja rvi is located within the mineral endowed Central Lapland Greenstone Belt in Northern Finland ,
adjacent to a southern splay of the Sirkka Gold Line (Venejoki Fault), a deep crustal structure that has
controlled the emplacement of more than 40 gold deposits in the region. The 14 7-hectare Mustaja rvi
exploration permit extends more than 2 kilometres along the interpreted strike of the Mustaja rvi shear zone,
and it is fully permitted for drilling.
Carl Lo fberg, CEO of FireFox, commented: “The acquisition of the drilling-permitted Mustajärvi Project at very
favorable terms shows FireFox’s ability to advance the tenement package in Northern Finland in areas highly
prospective for gold . The Mustajärvi target is adjacent to tenements in our Jeesiö Project, and it will be
incorporated into our 2018 winter program. We expect to commence with diamond core drilling at Mustajärvi
later this winter with an initial program of twinning historic holes and initial step-outs onto new targets.”
Mustaja rvi is a historical prospect discovered by Outokumpu Oyj based on exceptionally high gold content in
local till. The abundant n ative gold in till attracted artisanal gold miners, who exploited small surficial
deposits. The mineralization is typ ical of orogenic gold deposit s, hosted by albit ized mafic volcanics and
volcaniclastic rocks, where the gold is associated with pyrite-bearing quartz and quartz -tourmaline veins.
Previous owners, Outokumpu Oyj and Aurora, in, respectively, 1990 - 1992 and 2017, conducted ground
geophysical survey s (magnetic, induced polarization (IP) , and self-potential), trenching, systematic till
geochemistry, and drilled 12 shallow diamond drill holes to depths up to 72 metres.
Geophysical surveys completed by Outokumpu Oyj and Aurora, in, respectively, 1991 – 1992 and 2017,
highlighted the NE-SW striking shear zone, with known mineralization being spatially associated with
magnetic, IP , and chargeability gradients. However, previous drilling tested less than 200 metres strike of the
interpreted 2 kilometre anomaly and only the upper 50 metres of depth. The Outokumpu drilling yielded
some high-grade intersections, including: 2.7m @ 14.6 g/t Au (from 20.7 m), 12.0m @ 2.7 g/t Au (from 21.0
m), and 1.0m @ 18.8 g/t Au (from 41.0 m). The drilling suffered from significant core loss due to faulting and
fracturing; widths may not represent true thickness. Aurora geologists collected grab samples during the
2017 field season from trenches and boulders; one sample of sulfide-rich quartz vein material assayed 79.8
g/t Au. The drilled Mustaja rvi deposit is open all directions.
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While the Company believes the preceding historical drilling and sampling data are reliable, readers are
cautioned that a “qualified person ” (as defined by National Instrument 43 -101) has not yet completed
sufficient work to be able to verify the historica l information, and therefore the information should not be
relied upon.
The Firefox team completed comprehensive due diligence of the Project prior to completing the binding
Agreement. The Company is in the process of finalizing details of a percussion drill till sampling program that
is to be followed by diamond core drilling of duplicate holes and step-out holes on new targets.
Commercial terms
FireFox will pay a total of €30,000 and issue 400,000 common shares to Aurora in order to acquire 100%
interest in the Mustaja rvi Project. Aurora retains a 1% Net Smelter Royalty (“NSR”) on all metals sold from
the Mustaja rvi Project, 50% of which can be repurchased by Firefox for US $500,000. The repurchase right is
exercisable at any point within 180 days of the Company’s receipt of a positive feasibility study for the
Mustaja rvi Project that is in compliance with Canadian National Instrument 43-101.
About the Jeesiö Project
The Jeesio Project, now incorporating the Mustaja rvi Project, comprises approximately 46,200 hectares of
the prospective Central Lapland Greenstone Belt . The property is adjoined on the eastern end by Aurion
Resources Ltd. and Anglo -American PLC. The Company is currently developing targets based on data
generated during its maiden exploration program during summer and fall of 2017 as well as the historic data
reported in the Geological Survey of Finland (GTK) database. Based on GTK mapping and company fieldwork,
Jeesio hosts an extensive section of the Sirk ka Gold Line as well as abundant mafic volcanic and
metasedimentary rocks.
Qualified Person
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company , is a
qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare and approves
the technical information in this news release.
About FireFox Gold Corp.
FireFox is a n unlisted reporting issuer in British Columbia and focused entirely on gold exploration in
Finland. The Company has entered into an option agreement with Magnus Minerals Ltd., a private prospect
generator company in Finland, through which it has an option to acquire 100% interest in three projects
(subject to a NSR royalty) that currently encompass approximately 67,000 hectares. In order to complete the
option, the Company must invest CAD $2.5 million in exploration on the properties and make cash payments
to Magnus of CAD $250,000 over a three-year period (See Silverstone Resources Corp. news release dated
Aug 2, 2017).
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Finland is one of the top mining jurisdictions in the world as indicated by its 5 th ranking in the 2016 Fraser
Institute Survey of Mining Companies. Having a strong mining law and long mining tradition, Finland remains
underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and
FireFox is proud to have a Finland based CEO and technical team.
On behalf of the Board of Directors,
“Carl Lo fberg”
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: [email protected]
Telephone: 604-558-7687
Forward Looking Statements: The information in this news release contains forward looking statements that are subject
to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements. Factors that could cause such differences include:
changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry,
change in government and changes to regulations affecting the mining industry. Forward -looking statements in this
release may include statements regarding future explor ation programs and the timing thereof including maiden drill
targets, operation plans and Finnish mining prospects. Although we believe the expectations reflected in our forward
looking statements are reasonable, results may vary. The forward-looking statements contained in this press release
represent the expectations of FireFox as of the date of this press release and, accordingly, are subject to change after
such date. Readers should not place undue importance on forward -looking statements and should not rely upon this
information as of any other date. FireFox does not undertake to update this information at any particular time except as
required in accordance with applicable laws.
It should also be noted that while FireFox ’s properties are sometimes adjacent to or nearby operating or historic gold
mines or active gold projects being advanced by other companies, t he mineralization on properties nearby FireFox ’s
land packages is not necessarily indicative of mineralization on FireFox’s properties.
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