SRG Mining discovers additional graphite mineralisation on its New Permits in Liberia and provides general corporate update.
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SRG Mining Inc.
1320 Graham, Suite 132
Ville Mont-Royal, Québec
H3P 3C8
PRESS RELEASE FOR IMMEDIATE RELEASE
SRG Mining discovers additional graphite mineralisation on its New Permits in
Liberia and provides general corporate update.
Montreal, Quebec, June 1, 2021 – SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) is
pleased to report the discovery of a new graphite occurrence in northern Liberia, West Africa. The
discovery followed a geological investigation within SRG’s Liberia exploration permit located
immediately south of the border with Guinea and as a prolongation of the Lola graphite project in
Guinea. SRG Liberia, who owns the permit, is a fully owned subsidiary of SRG Mining Inc.
SRG Mining ha s identified a geological unit extending over 8 km with numerous mineralised
surface samples with up to 15% visual estimate of graphite flakes. Graphite flakes are similar in
size and shape as the graphite mineralisation at the SRG Mining’s Lola graphite deposit located
only 10 km north of the Liberian border. “We are very pleased with th is new discovery which
enhances the potential of the entire region in eastern Guinea and the northern Liberia ,
strategically positioning SRG as a key leader in the region”, said Ugo Landry Tolszczuk, President
and COO of SRG.
Dr. Audet and the SRG Mining geological team became aware of the possible extension of the
Lola Graphite deposit into Liberia after discovering graphite rich gneiss host at the border with
Liberia. This 2021 geological investigation performed by SRG Geologist’s M. Nana Camara within
SRG Liberia’s exploration permit confirmed the large extension of the geological host toward the
south-west over more than 8 km (Figure 1 below).
Corporate Update
As a general corporate update, the Government of Quebec announced that it has, through
Investissement Quebec, concluded a deal with Sayona Quebec regarding the purchase of assets
of North American Lithium Inc. within the procedures of the Sale and Investor Solicitation Process
relating to NAL (“SISP ”). Faced with this conclusion and considering a number of irregularities
which have tainted the procedure of the SISP, SRG is currently evaluating its legal rights and
recourses.
In parallel, with COVID -19 related travel restrictions easing up on a global sca le, the Company
will resume its project financing related work in order to finance its fully developed and permitted
Lola graphite project. “With travel restrictions now easing, most of our financial partners can now
engage in on site due diligence and we hope to be able to immediately relaunch project financing
activities on full scale”, commented Benoit La Salle, Executive Chairman of SRG.
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Figure 1: newly discovered extension of the geological host with outcropping graphite mineralisation in northern
Liberia.
The technical information in this release has been reviewed and approved by Dr. Marc -Antoine
Audet, PhD Geo., P.Geo, Lead Geologist, SRG and a 'qualified person' as defined by National
Instrument 43-101, Standards of Disclosure for Mineral Projects.
Contact :
Benoit La Salle, FCPA FCA
Email: [email protected]
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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Forward-Looking Statements
This press release contains "forward -looking information" within the meaning of Canadian
securities legislation. All information contained herein that is not clearly h istorical in nature may
constitute forward -looking information. Generally, such forward -looking information can be
identified by the use of forward -looking terminology such as “ enhance”, “potential”, “position”,
“estimate”, “anticipated”, “intends”, “will”, “continue”, “hope”, “believe”, or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would" or "might".
Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward -looking
information, including but not limited to: (i) volatile stock price; (ii) the general global markets and
economic conditions; (iii) the possibility of write -downs and impairments; (iv) the risk associated
with exploration, development and operations of mineral deposits and mine plans for the
Company’s mining operations; (v) the risk associated with establishing title to mineral properties
and assets including permitting, development, operations and production from the Company’s
operations being consistent with expectations and projections; (vi) fluctuations in commodity
prices, finding offtake takers and potential clients or enforcing such agreements against same
and other risks and factors described or referred to in the section entitled "Risk Factors" in the
MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed
in conjunction with the information found in this news release.
Although the Company has attempted to identify important factors that could cause actual results
to differ materially from those contained in the forward -looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such forward-looking information will prove to be accurate, as actual results and
future events could differ materially from t hose anticipated in such forward -looking information.
Such forward-looking information has been provided for the purpose of assisting investors in
understanding the Company's business, operations and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-
looking information. Forward-looking information is given as of the date of this press release, and
the Company does not undertake to update such forward -looking information except in
accordance with applicable securities laws.