Corsurex Announces Name Change, Consolidation and Financing
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
NAME CHANGE CONSOLIDATION AND FINANCING
Vancouver, British Columbia / July 9, 2020 - Corsurex Resource Corp. ,(CSE: CRC ) (the
“Company”) announces a name change to Gold Port Corporation , a three for one share consolidation
and concurrent financing. The consolidation is on the basis of one new (1) for each three (3) old common
shares and will result in the Company having 12,845,000 shares issued and outstanding pre financing. 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 as a result of the
consolidation, but will round up or down to the near est whole Share. In addition, all outstanding stock
options of the Company will be cancelled. All exis ting warrants of the Company will be reduced by a
factor of three, with the exerci se price increased by a factor of three, with all other warrant terms
remaining the same.
Concurrent with the Consolidation, the Company announces a Private Placement of up to five million
units at a price of CDN$0.15 per unit for gross proceeds of up to CDN $750,000. Each unit will be
comprised of one Share and one transferable comm on share purchase warrant. Each warrant will allow
the holder to purchase one Share of the Company at a price of CDN$0.30 for a period of three years from
closing. At the discretion of the Company, the wa rrant will be subject to an acceleration provision
whereby if the shares of the Company trade for fo rty cents ($ 0.40) or above for more than ten
consecutive trading days, the holder will have thirty da ys to exercise. The Private Placement will be open
to all existing shareholders of the Company and in terested parties who can rely upon an exemption from
the registration and prospectus requirements of applicable securities 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 Go ld Copper Project located in Guyana, S.A. The
National Instrument 43-101 Minera l Resource Estimate (the “ Technical Report”) is in the Inferred
Mineral Resource classification at an open pit cut-of f grade of 0.25 g/t AuEq and is summarized in the
table below. Mineral Resource estimation 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.
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
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
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 of Mineral Resources may be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
4) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an
Indicated Mineral Resource and must no t 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 estimated using the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions 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 include d 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 preparation for
further drilling. The objective will be to potentially expand the known Mineral R esource and if possible,
re-define the Mineral Resource into the Measured and Indicated classificati on. Approximately 1.2
kilometers of the known 4 kilometer strike have be en evaluated by drilling. Further surface sampling to
better define the mineral horizon will be undertaken in conjunction with drilling the historical target areas.
This news release has been reviewed and approved by independent Qualified Person, Eugene Puritch,
P.Eng., FEC, CET, President of P&E Mining Consultants Inc.
Adrian Hobkirk, President and CEO of the Company, is quoted “Our objective will be to enhance the
current defined Mineral Resource both in size and cl assification. Work to date has only drilled 1,200
meters of a 4 km strike. A Guyana experienced team is in place, and plans are set to move the project
forward quickly”.
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Hobkirk,
President, CEO and Director
T: 9546848040
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the
adequacy or accuracy of this release.
Some of the statements contained in this release ar e forward-looking statements, such as estimates and
statements that describe the Company’s future plans, objectives or goals, including words to the effect
that the Company or management expects a stated c ondition or result to occur. Since forward-looking
statements address future events and conditions, by their very nature, they in volve inherent risks and
uncertainties. For a description of the risks and uncertainties facing the Company and its business and
affairs, readers should refer to the Company's Management's Discussi on and Analysis and other
disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.