Firefox GOLD Expands Its GOLD Exploration Portfolio with Three New Tenements IN Central Lapland of Finland
FIREFOX GOLD EXPANDS ITS GOLD EXPLORATION PORTFOLIO WITH THREE NEW
TENEMENTS IN CENTRAL LAPLAND OF FINLAND
VANCOUVER, BC – (December 14, 2017) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to
advise that it has added 3 new tenement blocks to its gold exploration portfolio in the Central Lapland
Greenstone Belt of Finland. The Company can earn a 100% interest in the 73.2 km 2 (7,320 hectares)
reservation applications as a result of an addendum to the existing option agreement with Magnus Minerals
Ltd (see Company news release dated August 2, 2017 under the former name of Silverstone Resources Corp).
The new tenements are located adjacent to the Sirkka Gold Line – a major crustal structure that has controlled
the emplacement of the majority of the orogenic gold deposits in Lapland.
Carl Lo fberg, CEO of FireFox, commented, “We have further strengthened FireFox’s gold portfolio in Finland
with no cost to the Company. Now controlling more than 57,000 hectares in the Central Lapland Greenstone Belt
and a total of more than 67,000 hectares in Finland , we see many gold in till and geophysical anomalies that
will warrant follow-up during our Winter program. This new acquisition also shows the value of the Geological
Survey of Finland database, which helps us accelerate the pace of work on these greenfield projects.”
Two of the blocks are located adjacent to the Company’s existing Jeesio Project. These two blocks are
considered a s greenfield exploration targets, but they are known to host prospective geology and gold
anomalies from historical work reflected in the Geological Survey of Finland (GTK) database. FireFox
geologists identified the new properties as targets based on an internal review of Company and GT K data.
Drilling at a nearby target called Kiekero maa yielded near surface gold intercepts of up to 5 metres at 5.8 g/t
associated with the contact between metasediments and mafic intrusive rocks. The newly acquired FireFox
tenements include two prominent multi-point till anomalies (0.58 and 0.38 g/t Au) in close proximity to
similar lithologic contacts. Originally, this data was collected by Outokumpu Oyj and later transferred to the
GTK database. Outokumpu Oyj also identified significant gold in the heavy mineral fraction of till from these
properties. These prospective areas have not been subject to an y known historical drilling . FireFox is
currently planning its winter exploration program, which will include follow -up of a number of significant
anomalies on the Jeesio Project.
The third new block is located further west along the Sirkka Gold Line. It adjoins the Company’s Riikonkoski
Project and partially surrounds the historic Saatopora Mine, held by Outokumpu Oyj. The now -idled
Saatopora Mine produced approximately 220,000 oz Au and 5,650 t Cu between 1988-1995. The newly
acquired tenement near Saattopora hosts 39 historical diamond drill holes, which the Company will be
reviewing in detail during its Winter program. (All sampling and production results noted above are reported
in, and were recovered from, the GTK database.)
Summary of Transaction
The Company has agreed with Magnus Minerals Ltd. to add th e new tenements to the existing option
agreement, dated August 1, 2017, through a letter agreement as an addendum. The properties will be subject
to the existing terms of that agreement (see below) with no additional cost to the Company.
About the Jeesiö Project
The Jeesio Project is comprised of approximately 4 5,500 hectares of the prospective Central Lapland
Greenstone Belt, including two large granted exploration reservation s, two smaller application s for
exploration permits, and the two new reservations covering approximately 5,580 hectares. The property is
adjoined on the eastern end by Aurion Resources and Anglo-American. 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 Sirrka Gold Line as well as abundant mafic
volcanic and metasedimentary rocks.
Qualified Person
Dr. Petri Peltone n, Exploration Manager of FireFox Gold, is a qualified person as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Peltonen has supervised the technical
review of the newly acquired properties and has helped prepare and approve the technical information in
this news release.
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 approve
the technical information in this news release.
About FireFox Gold Corp.
FireFox is a new non -listed reporting issuer in British Columbia and Alberta focused entirely on gold
exploration in Finland. The Company has en tered 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).
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 indus try. Forward-looking statements in this
release may include statements regarding future exploration 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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