GFG and Newcrest Complete 2018 Drill Program at Rattlesnake Hills Gold Project
Media Release
Release: Immediate
GFG and Newcrest Complete 2018 Drill Program at
Rattlesnake Hills Gold Project
November 15, 2018, Saskatoon, Saskatchewan, Canada: GFG Resources Inc. (TSX-V: GFG)
(OTCQB: GFGSF) (“GFG” or the “Company”) and its partner, Newcrest Resources Inc., a
wholly-owned subsidiary of Newcrest Mining Limited (ASX: NCM) (“Newcrest”), have elected to
suspend the 2018 drill program due to deteriorating field conditions on its Rattlesnake Hills gold
property. The Company completed approximately 1,000 metres of drilling in two drill holes. The
drill holes did not reach their intended target depth and will be left open for completion in 2019.
Brian Skanderbeg, President and CEO commented, “ The decision to suspend the Phase 1 drill
program was based on challenging field conditions moving into the winter season. Our timeline to
complete drill testing of the deep porphyry and greenfield targets during the option period with
Newcrest remains intact. We look forward to work ing with Newcrest over the winter months to
strengthen our understanding of the North Stock system as well as the entire district and to re-start
the drill program in July 2019.”
For the remainder of 2018 and 2019, the Company and Newcrest will continue to work together on
re-modeling the district and deposit -scale geological and geophysical data, inclu ding VTEM,
CSAMT, gravity and magnetic data, to drive both deep and greenfield drill targets . The program
will also include the application of Corescan technology to historic deep drill holes and innovative
machine-learning technology to constrain geochemical and mineralogical vectors related to gold
mineralization and further refine deep drill targets . Drilling is expected to re-commence in early
July of 2019 with a minimum budget of approximately US$1.8 million.
About GFG Resources Inc.
GFG Resources is a North American precious metals exploration company focused on district scale
gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company
owns 100% of the Pen and Dore gold projects, two large and highly prospective gold properties
west of the prolific gold district of Timmins, Ontario, Canada. The Pen and the Dore gold projects
have the same geological setting that hosts most of the gold deposits found in the Timmins Gold
Camp which have produced over 70 million ounces of gold. In Wyoming, the Company controls
100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located
approximately 100 kilometres southwest of Casper, Wyoming, U.S. The geologic setting, alteration
and mineralization seen in the Rattlesnake Hills are similar to other g old deposits of the Rocky
Mountain alkaline province which, collectively, have produced over 50 million ounces of gold.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defi ned in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute “forward -looking information” within
the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United St ates Private
Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but
are not limited to, the future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency
exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental ris ks,
unanticipated reclamation expenses, title disputes or claims and limitations on insurance cov erage. Generally, these forward -looking
statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”,
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“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “do es not anticipate” or “believes”, or the negative
connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”,
“will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
All forward -looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of
management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the
Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada a nd the
United States will continue to support the development of mining projects in Canada and the United States. In addition, the similarity
or proximity of other gold deposits to the Rattlesnake Hill Gold Project, the Pen Gold Project and the Dore Gold Project is not necessary
indicative of the geological setting, alteration and mineralization o f the Rattlesnake Hills Gold Project, the Pen Gold Project and the
Dore Gold Project.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward -
looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of
gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or
financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained i n
forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. In addition, forward -looking statements are provided solely for the purpose of prov iding information
about management’s current expectations and plans and allowing investors and others to get a better understanding of our oper ating
environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-
looking statements, except as required by applicable laws.
For further information, please contact:
GFG Resources Inc.
Brian Skanderbeg, President & CEO
Phone: (306) 931-0930
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: [email protected]
Website: www.gfgresources.com