Corsurex Announces Corporate Update
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
Corsurex Announces Corporate Update
Vancouver, British Columbia / August 19, 2020 - Corsurex Resource Corp . (CSE: CRC ) (the
“Company”) is providing an update to a news release issued July 9 th, announcing a name change to Gold
Port Corporation, a three for one share consolidation and concurrent financing.
The Company is now seek ing to undertake a two old for one new share consolidation replacing that
previously announced. The new consolidation ratio will result in the Company having 19,267,794 shares
issued and outstanding pre fi nancing. A new CUSIP and ISIN number will be issued. Registered
shareholders of the Company will receive a letter of transmittal from the Company’s transfer agent with
instructions for exchanging their pre -consolidation shares. Shareholders who hold their shares through a
broker or other intermediary will not need to complete a letter of transmittal. The Company will not issue
any fractional Shares resulting from the consolidation but will round up or down to the nearest whole
Share. In addition, all outstanding stock options of the Company have been cancelled. All existing
warrants of the Company will be reduced by a factor of t wo, with the exercise price increased by a factor
of two, with all other warrant terms remaining the same.
Concurrent with the Consolidation, and subject to regulatory approval, the Company announces a Private
Placement of up to fifteen million units at a price of CDN$0.12 per unit for gross proceeds of up to CDN
$1,800,000. Each unit will be comprised of one Share and one trans ferable c ommon share purchase
warrant. Each warrant will allow the holder to purchase one Share of the Company a t a price of
CDN$0.16 for a period of three years from closing. The Private Placement will be open to all existing
shareholders of the Company and interested parties who can rely upon an exemption from the registration
and prospectus requirements of applic able secur ities laws to participate. A finder ’s fee of 8% will be
payable in connection with the financing. Proceeds from the Private Placement will be used to further
evaluate and define the Groete Gold Copper Project located in Guyana, South America, and for general
working capital purposes.
The Groete Gold Copper Project Guyana
The Company holds a 100% interest in the Groete Gold Copper Project located in Guyana, S.A. The
National Instrument 43-101 Mineral Resource Estimate (the “ Technical Report”) is i n the Infe rred
Mineral Resource classification at an open pit cut -off grade of 0.25 g/t AuEq and is summarized i n the
table below. Mineral Resou rce es timation parameters including bulk density, metal values , process
recoveries and pit optimization costs are detailed in Section 14 of the Technical Report. A gold price of
US$1,275/oz was used for the Mineral Resource Estimate.
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
SUMMARY OF THE GROETE DEPOSIT
UPDATED PIT CONSTRAINED MINERAL RESOURCE ESTIMATE(1-5)
Classification Domain
Tonnes
(M)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
AuEq
(M oz)
Inferred
Saprolite 5.6 0.48 0.09 0.61 0.11
Fresh 68.4 0.49 0.12 0.66 1.46
Total 74.0 0.49 0.12 0.66 1.57
1) Mineral Resources are reported inside a constraining pit shell at a cut-off of 0.25 g/t AuEq.
2) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
3) The estimate o f Mineral Resources may be materi ally a ffected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
4) The I nferred M ineral Resource in this estimate has a lower level of confidence than that applied t o an
Indicated Mineral Resource a nd must not be converted to a Mineral Reserve. It is reasonably expected that
the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with
continued exploration.
5) The Mineral Resources in this report were estimate d using the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definit ions and Guidelines prepared
by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
The Technical Report is available at SEDAR and a new Company website is under construction.
The project was last explored in 2012, which incl uded a drill program that allowed the calculation of the
above inferred mineral resource. The Company has maintained a full camp and security at the project site.
The exploration plan will encompass camp expansion, heavy equipment rehabilitation in prepara tion for
further drilling. The objective will be to potentially expand the known Mineral Resource and if possible,
re-define t he Mineral Resource into the Measured and Indicated classification. Approximately 1.2
kilometers of the known 4 kilomet er strike have been evaluated by drilling. Further surface sampling to
better define the mineral horizon will be undertaken in conjunction with drilling the historical target areas.
The preparation of the technical content of this press release was supervised and has been approved by
Mr. William Feyerabend, a Certified Professional Geologist and a Qualified Person under NI 43-101.
Year End First and Second Quarter Filing Update
The Company is finalizing the 2019 Annual Report filing with the auditor, and plans to file the Annual
Report and First and Second Quarter in the immediate future . The consolidation, name change and
financing will conclude upon regulatory acceptance of the filings and a return to trading.
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Hobkirk,
President, CEO and Director
T: 9546848040
No stock ex change or securitie s regulatory authority has reviewed or accepted responsibility for the
adequacy or accuracy of this release.
Some of the statements contained in this release are forw ard-looking statements, such as estimates and
statements that describe the Company’s future plans, objectives or goals, includin g words to the effect
that the Company or management e xpects a stated condition or result to occur. Since forward -looking
statements ad dress fut ure events and conditions , by their very nature, they i nvolve inherent ris ks and
uncertainties. For a descripti on of the risks and uncertainties facing the Company a nd its business and
affairs, readers should refer to the Company's Managem ent's D iscussion and Analysis and other
disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.