Goldcliff Arranges Financing, Provides Update ON B.c. Properties, and Grants Options
www.goldcliff.com
#400 – 789 W. Pender St.
Vancouver, B.C. V6C 1H2
Phone: 250-764-8879
Toll Free: 866-769-4802
GCN.TSXV www.directroyalty.com [email protected]
October 19, 2020
GOLDCLIFF ARRANGES FINANCING, PROVIDES UPDATE on B.C.
PROPERTIES, and GRANTS OPTIONS
Vancouver, B.C. – George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the
“Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that the Company has arranged a
Non-Brokered Private Placement of up to 7,500,000 Units at a price of $0.10 per Unit for gross
proceeds of $750,000. Each Unit will consist of one common share and one-half common share
purchase warrant. Each whole Warrant will entitle the holder to purchase one additional common
share at a price of $0.15 per share for a period of two years from the date of closing. In addition to
other exemptions from the prospectus and registration requirements, the Private Placement will be
open to existing shareholders of record as of October 13, 2020 pursuant to BC Instrument 45-534
“Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders”. Any
Units purchased by way of the Private Placement will be subject to four months and a day resale
restriction. A Finders’ Fee of 7% cash and 7% share purchase warrants (Broker Warrants),
exercisable on the same terms as the investor warrants, may be paid to any third-party Finders.
Proceeds from the offering will be applied to pre drilling exploration activities at Aurora West,
permitting of drilling at Aurora West, all 2021 option and land payments, due diligence expenses
on additional acquisitions, and to general working capital.
The Company recently completed a prospecting, surface sampling and LDS (lithic drainage
sediment) geochemical sampling program at it’s 100% owned Ainsworth silver property. This is the
first time that the area between the old No 1 mine and the Silver Hoard area has been prospected
and sampled. The No. 1 and Silver Hoard are the two highest grade former producers in the
Ainsworth district. Results of the program will be discussed once all samples have been analysed,
and results interpreted.
The Company also recently completed detailed mapping and surface sampling of the newly
optioned Kettle Valley epithermal gold occurrence. LDS geochemical sampling at Kettle Valley is
nearing completion. A Notice Of Work has been submitted to permit trenching and drilling at Kettle
Valley.
The Company has granted stock options to directors, officers, and consultants for the purchase of
1,600,000 common shares of the Company at an exercise price of $0.14 per share for a term of
five years from the date of grant, subject to regulatory approval.
Ed Rockel, P. Geo, qualified person as defined by National Instrument 43-101 supervised the
preparation and verification of the technical information contained in this release.
For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at
1-866-769-4802 or email at [email protected].
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or the accuracy of this news release.