Flow Metals Agreement FOR Ashuanipi GOLD Project
810 – 789 West Pender Street
Vancouver, BC V6C 1H2
604-725-1857
FLOW METALS AGREEMENT FOR ASHUANIPI GOLD PROJECT
Vancouver, BC – April 26, 2021 – Flow Metals Corp. (FWM:CSE) (“Flow Metals” or the
“Company”) is pleased to report an agreement with Go Metals Corp. on the Ashuanipi gold
project in eastern Quebec near the Labrador border in the traditional territory of both the Innu
Nation of Matimekush-Lac John and the Naskapi Nation of Kawawachikamach.
Go Metals will earn in on the project through funding exploration. The terms are as follows:
• $200,000 exploration dollars will earn 40%
• $200,000 exploration dollars will earn an additional 20%
• Flow Metals has the option to create a Joint Venture or Go Metals may spend an
additional $400,000 to earn a final 20%
Scott Sheldon, President comments “We are excited to have Go Metals fund the exploration on
the Ashuanipi project this summer. This will be our first pass on the project following up on the
intensive work Windfall Geotek has done creating over 50 high quality gold targets. Freeing up
finances for Flow means we will also be running programs at the company’s two other gold
projects in the Yukon and BC this summer.”
Transaction
The transaction is a “related party transaction” for purposes of Multilateral Instrument 61-101
– Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction
is exempt from the valuation and minority approval requirements of MI 61-101 in accordance
with sections 5.5(a) and 5.7(1a) as the fair market value is not more than 25% of Flow Metals
market capitalization.
Ashuanipi, Quebec
The project contains numerous AI targets over banded iron formations. The targets were
generated by Windfall Geotek after a 330,000 km AI mining study of eastern Quebec. The
project is northeast of Schefferville in the Ashuanipi complex, on the edge of the Superior
Province. The next phase will test targets using till and channel sampling methods starting in
June.
Sixtymile, Yukon
The Sixtymile project is a 60km2 gold prospect siting on three active placer camps at the Alaska
border. The road accessible project is scheduled to continue drilling with the team from
GroundTruth Exploration in June.
New Brenda, BC
The New Brenda project is a large 100km2 gold property with road access to the Okanagan
Connector Highway in the highly prospective Quesnel terrane. The project neighbors Gold
Mountain’s advanced Elk Gold project.
810 – 789 West Pender Street
Vancouver, BC V6C 1H2
604-725-1857
About Flow Metals
Flow Metals is a Canadian gold explorer with a focus on early-stage gold projects in renowned
mining districts.
Qualified Persons
Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National
Instrument 43-101 and has reviewed the technical information presented within this news
release.
For further information, please contact:
Scott Sheldon, President
604.725.1857
Forward-Looking Information
This press release may include “forward-looking information” (as that term is defined by
Canadian securities legislation), concerning the Company’s business. Forward-looking
information is based on certain key expectations and assumptions made by the Company’s
management, including future plans for the exploration and development of its mineral
properties. Although the Company believes that such expectations and assumptions are
reasonable, investors should not rely unduly on such forward-looking information as the
Company can give no assurance they will prove to be correct. Forward-looking statements in
this press release are made as of the date of this press release. The Company disclaims any
intent or obligation to publicly update any forward-looking information (whether as a result of
new information, future events or results, or otherwise) other than as required by applicable
securities laws.