GGX Gold Signs Exclusivity Letter with Golden Dawn Minerals Regarding the Kettle River Claim Group in the Greenwood Mining Camp.
GGX Gold Signs Exclusivity Letter with Golden Dawn Minerals
Regarding the Kettle River Claim Group in the Greenwood Mining Camp.
Vancouver, British Columbia – May 07, 2019 – GGX Gold Corp. (TS X‐v: GGX), (OTCQB: GGXXF), (FRA:
3SR2) (the “Company” or “GGX”) is pleased to announce it has signed an “Exclusivity Letter” with
Golden Dawn Minerals Inc. (GOM) (TSX‐V:GOM) giving GGX a sixty day “Exclusivity Period” whereby
GGX may conduct a due diligence investigation for a possible a cquisition. During this period, GGX will
investigate claim standings, exploration data and complete an independent third‐party valuation of
the Kettle River Claim Group (KRCG), located in the Greenwood Mining Camp of southern British
C o l u m b i a . A f t e r t h e E x c l u s i v i t y P e r i o d , G G X m a y n e g o t i a t e a mutually acceptable “Definitive
Agreement” with GOM for acquisition of all or part of the KRCG.
View Greenwood Claim Map
The Kettle Claim Group is owned by Kettle River Resources a pri v ate c o mpany whi ch GO M o wns all
the outstanding shares.
The KRCG consists of two separate claim blocks. The first block i s r e f e r r e d t o a s t h e P h o e n i x c l a i m
block which is directly adjacent to the Gold Drop property owned by GGX.
May 7, 2019 TSX.V : GGX
FRA : 3SR2
OTCQB : GGXXF
GGX Gold News Release
The Phoenix claim block is a 10,321 Ha land package consisting of:
• 51 mineral tenure claims
• 57 Crown grants with sub‐surface rights covering the historic Phoenix mine
• 24 Crown grants with surface rights that include old town site lots from Phoenix
• 20 Crown grants with sub‐surface rights over historic mine workings
• 49 documented mineral showings
• +30 historical past producing mines
View Phoenix Map
This claim block also includes the historic Phoenix mine. The Phoenix mine originally operated as an
underground operation from the early 1890’s. In 1956 Granby Mining started an open pit mining
operation which ran until 1978. During the open pit mining peri od the Phoenix Mine produced 21.5
million tonnes at a grade of 0.9% Cu and 1.12 g/t Au, containin g +1 million ounces of gold, 18 million
ounces of silver and 575 million pounds of copper. (BC MINFILE 082ESE020)
As part of the evaluation process GGX will be reviewing a recen tly compiled extensive digital database
of the Phoenix claim block representing 120 years of geological and mining information, comprised of
files, records, reports and maps, rock specimen samples, and a core storage library.
The second claim block is referred to as the Tam O’Shanter (TOS ) claim block. The TOS block is a 1,400
Ha land package consisting of 10 mineral tenure claims which li e five kilometers west of the Phoenix
Block. The TOS is prospective for Au, Cu, and Ag.
There are four main areas of known mineralization on the proper ty; these include the Bengal Zone,
Deadwood Zone, Tam O’Shanter, and Iva Lenore.
GGX Gold News Release
View Tam O’Shanter Map
The Greenwood mining camp, located in southern British Columbia is one of the most prolific mining
camps in Canada. The area has a long history of mining having p roduced 1.4 Million Ounces Gold, 10
Million Ounces Silver and 0.7 Billion pounds Copper.
The majority of mineralization in the Greenwood Camp can be classified as copper‐gold skarns or
skarn — related. Early pre‐1919 exploration in the Greenwood ca m p f o c u s e d o n s u c h m a s s i v e
sulphide/oxide ores that were self‐fluxing and could be shipped directly to nearby smelters in Grand
Forks and Greenwood. Lower grade footwall stringer mineralizati on was largely ignored, as the mines
wished only to ship high grade ore. As such there is excellent potential to discover large tonnage
deposits of low to moderate grade copper‐gold skarn material peripheral to the historic mines.
In addition, since most of the historic mines were focused on co p p e r , t h e i r o n ‐ r i c h s k a r n z o n e s o f
mineralization were largely ignored. It will be important to re‐ e v a l u a t e a l l o f t h e s k a r n d e p o s i t s f o r
gold.
George Sookochoff, President of GGX Gold commented “As we continue to develop the Gold Drop
property with its high grade gold, silver and tellurium veins we will now have an opportunity to
significantly expand our land position in the prolific Greenwood mining camp.
During the next 60 days our team will be evaluating the 120 yea rs of exploration data that has been
recently compiled for the first time ever on the Phoenix claim block. I am confident the results of the
review will be positive allowing us to negotiate and complete a Definitive Agreement.”
GGX Gold News Release
On Behalf of the Board of Directors
George Sookochoff, President,
604‐488‐3900
Investor Relations:
Mr. Jack Singh,
604‐488‐3900,
Forward Looking Statement
This News Release may contain fo rward‐looking statements includ ing but not limited to comments regarding
the acquisition of certain mineral claims. Forward‐looking statements address future events and conditions
and therefore involve inherent risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements and Revolver undertake s no obligation to update such statements,
except as required by law.
Forward‐looking statements are based on the then‐current expect ations, beliefs, assumptions, estimates and
forecasts about the business and the industry and markets in which the Company operates, including that: the
current price of and demand for minerals being targeted by the Company will be sustained or will improve;
the Company will be able to obtain required exploration licences and other permits; general business and
economic conditions will not change in a material adverse manner; financing will be available if and when
needed on reasonable terms; the Company will not experience any material accident; and the Company will
be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward‐looking
statements are not guarantees of future performance and involve risks, uncertainties and assumptions which
are difficult to predict. Investo rs are cautioned that all forw ard‐looking statements involve risks and
uncertainties, including: that resource exploration and develop ment is a speculative business; that
environmental laws and regulations may become more onerous; tha t the Company may not be able to raise
additional funds when necessary; fluctuations in currency excha nge rates; fluctuating prices of commodities;
operating hazards and risks; competition; potential inability t o find suitable acquisition opportunities and/or
complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well
as others, could cause actual results and events to vary significantly. Accordingly, readers should not place
undue reliance on forward‐looking statements and information, which are qualified in their entirety by this
cautionary statement. There can be no assurance that forward‐lo oking information, or the material factors or
assumptions used to develop such forward looking information, w ill prove to be accurate. The Company does
not undertake any obligations to release publicly any revisions for updating any voluntary forward‐looking
statements, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release