Gelum Resources Expands Exploration Portfolio; Options ML Copper-Gold Claims
Suite 2710 – 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
Ph. 604-484-1228
Fx. 604-408-7488
GELUM RESOURCES EXPANDS EXPLORATION PORTFOLIO;
OPTIONS ML COPPER-GOLD CLAIMS
NR22-02 March 8, 2022
Vancouver, British Columbia, March 8, 2022 – Gelum Resources Ltd. ( “Gelum” or the
“Company”) (CSE: GMR) reports that it has expanded its exploration portfolio by entering into an
agreement under which Gelum may earn a 100% interest in the 8,736 ha (87 km 2) ML land
position, 6 kilometres from the Mt. Polley porphyry Cu- Au past -producing mine ( care and
maintenance; Imperial Metals Corp.), 6 kilometres from Osisko’s QR Deposit (past-producer) and
28 kilometres from the active Gibraltar porphyry Cu-Mo active mine (Taseko – 75%, Cariboo
Copper Corp. – 25%), located in south-central British Columbia, Cariboo Mining District (Figure
1)1.
Gelum President David Smith stated “Gelum is expanding the portfolio through the acquisition of
a high-quality, exploration project which is characterized by strong copper-gold endowment and
a superb road-access BC porphyry address. ML is situated in a premier BC porphyry copper belt
with excellent infrastructure and local mining expertise and mining culture . We are excited to
advance the project and maximize shareholder value through exposure to discovery potential and
to allow for some diversification of assets.”
ML Property Highlights
• 8,736 Ha (87 km 2) brownfields land position 6 kilometres northwest of Mt. Polley, 28
kilometres east of the Gibraltar Mine and 6 kilometres southwest of Osisko’s QR Deposit.
• Exploration t argets include alkalic porphyry copper-gold and high- grade replacement -style
gold.
• Reactive Triassic-Jurassic Nicola Group rocks (prolific B.C. porphyry host rocks).
• Up to 1.01% Copper and 0.65 g/t gold in surface rock grab samples (see below).
• Road accessible year-round with extensive mine infrastructure in the region.
• Adjacent to large land positions held by Osisko and Imperial Metals.
Project Details
The ML copper-gold property, located in central British Columbia, is accessible year-round along
the Likely Road, approximately 87 kilometres northeast of Williams Lake. The property is
accessed along numerous logging roads. The 8,736- hectare property contains multiple ARIS
copper and gold occurrences and is considered prospective for mes othermal gold and porphyry
copper-gold-molybdenum deposits. Historical exploration is concentrated on the higher elevation
terrain along the southeast edge of the property where favourable units crop out. Historical grab
sampling at ML has yielded up to 1.01% Cu (Assessment Report 21584 2) and up to 0.65 g/t Au
(Assessment Report 129033). A small drill programme in 1985 targeted a copper soil anoma ly
associated with a mineralized monzonite stock and adjacent volcanic and sedimentary units and
Gelum Resources Ltd. 2 March 8, 2022
NR22-02 Continued
comprised short ( 45 to 92m) holes that total 435m . This drilling did not adequately test the
mineralized outcrops located northwest and upslope from the soil anomaly.
The historical sampling results described in the text and maps are solely included to demonstrate
the presence or absence of mineralization. Rock grab samples are by definition selective and not
intended to provide nor should be construed as a representative indication of grade or
mineralization at the Project. Rock grab samples reported from the Project reflect a broad range in
grade from below detection limit to the grades highlighted herein.
The ML Property is located along trend from the Mount Polley 4 copper-gold deposit (Figure 2)
and underlain by Late Triassic Nicola Group basalt (reactive host rocks) and Lower Jurassic felsic
breccia and sandstone. These are intruded by Triassic -Jurassic monzonite, syenite and younger
quartz monzonite/granite. Initial reconnaissance geological mapping in the fall of 2021 identified
porphyry dikes, copper oxides in fractur ed chlorite-altered basalt (Figure 3A) ,
altered/demagnetized basalt with strong overprinting hematite-limonite, as well as hematite -
limonite-silica cemented breccia with silicified basalt clasts (Figure 3B). These lithologies,
textures and alteration minerals are common in the alkalic porphyry copper environment.
Gelum plans to conduct an airborne magnetic survey at the ML project and will conduct follow-
up surface exploration work Q2/3 2022 with the objective of identifying drill targets.
Earn-in Agreement
In consideration of the granting of the Option and to maintain the Option, Gelum shall during the
Option Period issue to the Optionors an aggregate of CAD $450,000 in Gelum Shares and make
cash payments to the Optionors in the amount of CAD $375,000 as follows:
Payment Period Consideration
On the Effective Date $25,000 Cash and $112,500 in Gelum
Shares
On or before 12 months from the
Effective Date
$50,000 Cash and $112,500 in Gelum
Shares
On or before 24 months from the
Effective Date
$100,000 Cash and $112,500 in Gelum
Shares
On or before 36 months from the
Effective Date
$200,000 Cash and $112,500 in Gelum
Shares
TOTAL $375,000 Cash and $450,000 in
Gelum Shares
Where the number of Gelum shares issuable shall be determined by dividing the $ amount by
the Market Price at the date of issuance. The vendors retain a 2.5% NSR royalty (buyable down
to 2%) by payment of $1,000,000, there are no work commitments on the property.
Gelum Resources Ltd. 3 March 8, 2022
NR22-02 Continued
Figure 1. Location and access of the ML property in south-central British Columbia.
ML is 6 kilo metres northwest of Mt. Polley (Imperial Metals ), and 6 kilometre s
southwest of Osisko’s QR Deposit, within a prolific, road-accessible copper mining
district near the town of Williams Lake1.
Gelum Resources Ltd. 4 March 8, 2022
NR22-02 Continued
Figure 2. Claim map of the road-accessible ML Property in central British Columbia.
Compiled historical rock grab samples from on and near the property are also shown.
Figure 3. A) Copper oxide in fractured chlorite altered basalt; B) Hematite-limonite-
silica cemented breccia with silicified basalt clasts.
Gelum Resources Ltd. 5 March 8, 2022
NR22-02 Continued
Qualified Person
John Drobe, P.Geo., a qualified person as defined by NI 43- 101, has reviewed the scientific and
technical information that forms the basis for this news release and has approved the disclosure
herein. Mr. Drobe is not independent of the Company as he is a consultant of the Company.
References
1 References to other mines and deposits made in this news release provide context for the ML
Project, which occurs in a similar geologic setting, but this is not necessarily indicative that ML
hosts similar grades and tonnages of mineralization.
2 https://aris.empr.gov.bc.ca/search.asp?mode=repsum&rep_no=21584
3 https://aris.empr.gov.bc.ca/search.asp?mode=repsum&rep_no=12903
4 Brown, R., Roste, G., Baron, J., Rees, C., 2016. TECHNICAL REPORT ON THE MOUNT
POLLEY MINE Report for: Imperial Metals Corporation Authors: Ryan Brown, P.Eng. Gary
Roste, P.Geo. Janice Baron P.Eng. Chris Rees, Ph.D., P.Geo. Effective date for the
Resource/Reserve Estimate is January 1, 2016 May 20, 2016
About Gelum Resources Ltd.
Gelum Resources is a Company led by seasoned management in the mining and financial sectors.
The Company’s objective is the discovery of a multi -million oz. economic gold deposit in the
Bralorne-Bridge River gold district located some 190 kilometre s north of Vancouver and 74 km
northwest of the town of Lillooet, B.C. This objective is made possible through the Company’s
acquisition of 26 mineral claims with a total area of 9028 hectares located in the Bralorne -Bridge
River Gold District, which was host to one of the highest-grade, longest-producing mines in British
Columbia. Management is pr oud to have developed an excellent working relationship with the
Bridge River Indian Band (Xwísten) who, after thorough site investigation of our prime targets,
confirm that they currently have no heritage or cultural concerns with the current workplan to date.
For further information about the C ompany and its exploration portfolio, please refer to Gelum
Resources Corporate Presentation:
PowerPoint Presentation (gelumresources.com)
On Behalf of the Board of Directors
David Smith, President
For further information about Gelum, please contact:
David Smith, President
Email: [email protected]
Phone: 604 484-1228
Cell : 778-834-1141
Gelum Resources Ltd. 6 March 8, 2022
NR22-02 Continued
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE-
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This presentation contains forward- looking statements and forward- looking information (collectively, “forward -
looking statements”) within the meaning of applicable Canadian and US securities legislation. All statements, other
than statements of historical fact, included herein including, without limitation, statements regarding any potential
increase in shareholder value through the acquisition of undervalued precious metal deposits for development, joint
venture or later disposition, the potential to partner with mine developers to achieve production at any of the
Company’s properties (existing or future ); the potential for the capital costs associated with any of the Company’s
existing or future properties to be low; the potential for the Company to outline resources at any of its existing or
future properties, or to be able to increase any such resources in the future; concerning the economic outlook for the
mining industry and the Company’s expectations regarding metal prices and production and the appropriate time to
acquire precious metal projects, the liquidity and capital resources and planned expenditures by the Company, the
anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program
results and the anticipated business plans and timing of future activities of the Company, are forward looking
statements. Forward-looking statements are based on a number of assumptions which may prove incorrect, including,
but not limited to, assumptions about the level and volatility of the price of gold; the timing of the receipt of regulatory
and governmental approvals; permits and authorizations necessary to implement and carry on the Company’s planned
exploration programs at its properties; future economic and market conditions; the Company’s ability to attract and
retain key staff; and the ongoi ng relations of the Company with its underlying lessors, local communities and
applicable regulatory agencies.
Accordingly, the Company cautions that any forward- looking statements are not guarantees of future results or
performance, and that actual resul ts may differ, and such differences may be material, from those set out in the
forward-looking statements as a result of, among other factors, variations in the nature, quality and quantity of any
mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or
authorizations required for its activities, material adverse changes in economic and market conditions, changes in the
regulatory environment and other government actions, fluctuations in commodity prices and exchange rates, the
inability of the Company to raise the necessary capital for its ongoing operations, and business and operational risks
normal in the mineral exploration, development and mining industries, as well as the risks and uncertainties disclosed
in the Company’s most recent management discussion and analysis filed with various provincial securities
commissions in Canada, available at www.sedar.com. The Company undertakes no obligation to update publicly or
release any revisions to these forward -looking statements to reflect events or circumstances after the date of this
presentation or to reflect the occurrence of unanticipated events except as required by law. All subsequent written or
oral forward-looking statements attributable to the Company or any person acting on its behalf are qualified by the
cautionary statements herein.