Firefox GOLD Significantl Y Expands Its Exploration Tenements IN the Central Lapland Greenstone Bel T of Finland
FIREFOX GOLD SIGNIFICANTL Y EXPANDS ITS EXPLORATION TENEMENTS IN
THE CENTRAL LAPLAND GREENSTONE BEL T OF FINLAND
VANCOUVER, BC – (April 19, 2018) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to announce
that it has executed a non-binding letter of intent (“LOI”) with Magnus Minerals Ltd. (“Magnus”) outlining a
purchase option agreement under which FireFox can acquire 100% interest in approximately 50,630
hectares of mineral exploration reservations in Lapland, Finland. The new properties are comprised of four
separate reservations, collectively referred to as the Seuru Properties (or the “Properties). Combined with its
other holdings of exploration reservations and ore prospecting permits, this acquisition will bring FireFox’s
total gold exploration portfolio to more than 117,000 hectares or 1,170 square kilometers.
Subject to the execution of a definitive agreement (the “Agreement”), the Company has agreed to earn its
interest in the Properties by making payments of up to CAD $200,000 in cash and 1,500,000 shares to Magnus
over a three-year period, while investing CAD $1,500,000 in mineral exploration on the Properties. Magnus
will retain a 1.5% NSR royalty on production from the Properties, 0.5% of which can be purchased for 1,000
troy ounces of gold.
Patrick Highsmith, Chairman of FireFox, commented: “Once executed in the next few weeks, this Agreement
will deliver FireFox into an elite group of large tenement holders in the Central Lapland Greenstone Belt. These
new properties lie in the highly prospective Kittilä Group rocks. This is an important new target area for the
Company because these rocks are host to Finland’s only world class gold deposit, Agnico Eagle’s Kittilä Mine. In
fact, a portion of the Seuru Property adjoins the east side of the mine property. We are excited to begin work on
the Properties, which are rich with target opportunities.”
The Properties are generally underlain by the mafic volcanic rocks of the Kittila Group. The Properties have
seen approximately CAD $3 million of historic investment. The historic geophysical surveys, till geochemistry,
and drilling results in the Geological Survey of Finland (GTK) database indicate a number of target areas
where structural intersections coincide with gold and trace element geochemical anomalies. The prominent
structural controls on mineralization in this area , including at t he Kittila deposit, tend to be oriented NNE
and NNW.
Quality Assurance
Dr. Petri Peltonen, 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 prepared the technical
information in this news release.
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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 an unlisted reporting issuer in British Columbia and focused entirely on gold exploration in
Finland. The Company holds a 100% interest (subject to a NSR royalt y) in the 147 -hectare Mustaja rvi
Property in Lapland. In addition to the Properties that are the subject of the LOI announced here , the
Company has an option agreement with Magnus Minerals Ltd., a private prospect generator company in
Finland, through which it has an option to acquire a 100% interest in in the Jeesio , Riikonkoski and Ylo jӓ rvi
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 1 st ranking in the Investment
Attractiveness Index of the 2017 Fraser Institute Survey of Mining Companies. With 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.
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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.