Silver Pursuit to Acquire East Bell Gold Prospect- Churchill County, Nevada Silver Pursuit Resources Ltd. (SPF-TSX.V) has signed a Letter of Intent with Larry McIntosh, a well- known Nevada based geologist/prospector, whereby Silver Pursuit may acquire a 100% interest in a gold
NEWS RELEASE
SILVER PURSUIT RESOURCES LTD.
(SPF-TSX.V)
September 5, 2017
Silver Pursuit to Acquire East Bell Gold Prospect- Churchill County, Nevada
Silver Pursuit Resources Ltd. (SPF-TSX.V) has signed a Letter of Intent with Larry McIntosh, a well-
known Nevada based geologist/prospector, whereby Silver Pursuit may acquire a 100% interest in a gold
prospect located in Churchill County Nevada known as the East Bell Prospect. The property consists of
14 claims in 2 blocks that covers the majority of the mineralization found to date. SPF has recently staked
an additional 16 claims to cover the mineralized sample areas and extensions.
McIntosh (the vendor) discovered the mineralization in 1993 during a 15-year tenure as a
geologist/prospector for Cordex Explorations LLC., a Nevada based discoverer and mine developer of
much renown. Sampling to date has resulted in two areas of gold mineralization an area of gravel cover
and an area bedrock where multi gram gold values are present in silicified and brecciated rhyolite.
The primary target is in the gravel deposits that are thought to be in close proximity to the source of
mineralization. Evidence for the gravels to be nearly in place include scarce mineralized samples west of
target zone and the coincidence of a distinct CSAMT (Controlled Source Audio-frequency Magneto-
telluric) anomaly in two lines, separated by 3000 feet, over the top of the gold samples.
In prospecting of the surrounding hills for other rock that could have supplied the mineralized material to
the area of interest; no similar gold mineralization in the present- day drainage basin has been located.
The boulders and cobbles sampled are not rounded and structural control of the mineralized fractures is
evident in large boulders. The target, at least, is a train of gold-rich gravels.
A second target is situated uphill and west of the near-source gravel target.
Historic exploration consisted of sampling, the CSAMT survey and a minor amount of drilling completed
in 1994 by Cordex. The nine holes drilled are thought to have been designed to test the potential of the
"range-front" structure that could have fed the mineralized gravels. The drilling had negative results
except for the low, deep intercept to the west, collared near the bedrock contact. One angle hole
encountered weakly anomalous gold at 700 feet down hole and could be related to gold mineralization
exposed at the surface. This previous drilling was not close enough to intersect the mineralization at
shallow depths nor was the bedrock mineralization known at the time of drilling.
Other work on the prospect includes extensive sampling which returned several multi-gram assays (up to
40 gms/t) and 2 CSAMT lines situated 3000 ft apart. The CSAMT lines were completed in 1994 by
Zonge International (a highly reputable Nevada focused international geophysical outfit) and
subsequently reprocessed in 2014, apparently confirming a high resistivity signature consistent with
hydro-thermally altered volcanic rocks.
Gold mineralization appears to be geochemically devoid of significant elevated trace element
geochemistry. Silver is elevated in some gold samples but occurs in low concentrations. In higher grade
samples, native gold occurs in dark red-brown iron oxide after subhedral to euhedral pyrite. This variety
is characteristically yellow gold. Another variety of gold tends to have a tarnish that imparts an orange
cast to the native gold. The gold occurs along fractures in sheeted rhyolitic rocks that are silica-flooded
and locally have abundant adularia. Numerous breccias have been observed at the property and in the
principal target area, samples of some silicified breccias carry over 1 g/t with multigram samples in
breccias in several places. Some features are similar to the Rawhide mine located 20 miles south-westerly
of the East Bell prospect.
The terms of the acquisition are:
In consideration for acquiring a one hundred (100%) per cent interest in the Property, SPF shall make the
following cash payments at the following times:
Time Cash Payment (USD$)
On signing $1.00
Twelve month anniversary $5,000.00
Twenty-four month anniversary $10,000.00
Thirty-Six month anniversary $15,000.00
Forty-Eight month anniversary
Sixty Month anniversary
$25,000.00
$50,000.00 and annually thereafter
Option to Purchase
(i) SPF will have the option to purchase 100% interest in property at any time for a purchase
price of $400,000.
(ii) Option to purchase must be exercised prior to start-up of production.
Net Smelter Return Royalty (“NSR”).
In addition to the consideration the above payments, McIntosh shall retain a 2% NSR on the Property
which includes an area of mutual interest covering additional areas surrounding the present claims.
If the price of gold trades at over $1600.00 per ounce on the London Metal Exchange for a 90 -day
average of over $1600.00; the NSR will increase by one -half percent (1/2%) to 2 1/2% NSR for that
period.
In the event that the price of gold trades at over $2000.00 per ounce on the London Metal Exchange for a
90-day average of over $2000.00; the NSR will increase by an additional one -half percent (1/2%) to 3%
NSR for that period.
Qualified person:
Pavel Dubchak, P.Eng., is the qualified person as defined by National Instrument 43-101 who has
reviewed and approved the contents of this news release.
About Silver Pursuit Resources Ltd.:
Silver Pursuit is building a diversified portfolio of Nevada assets with a special emphasis on gold. The
company continues to define its presence in Nevada with the compilation of data and historic work on a
portfolio of 14 prospects acquired by staking and the acquisition of the East Bell. The Company continues
to hold mineral leases located in the NWT where historic expenditures are in excess of $5 million
All claims holdings are in good standing with the 5 previously held claim groups being dropped on Sept.
1, 2017; these include Bernice Canyon (Churchill Cty), Burner Hills and Scraper Springs (Elko Cty),
Linka (Lander Cty) and Stokes (Nye Cty). The company is presently upgrading its website and expects its
new website to be launched this week.
On Behalf of the Board
SILVER PURSUIT RESOURCES LTD.
Brian McClay
President
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS. THE TSX-VENTURE EXCHANGE NEITHER APPROVES OR DISAPPROVES OF THIS RELEASE.