Burin Gold Successfully Completes $6.9 million Initial Public Offering, Begins Trading on the TSX Venture Exchange
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Burin Gold Successfully Completes $6.9 million Initial Public Offering,
Begins Trading on the TSX Venture Exchange
Vancouver, Canada, November 24, 2021 – Burin Gold Corp. (“ Burin Gold” or the “ Company”) is pleased to
announce that its common shares will commence trading on the TSX Venture Exchange (“TSX-V”) today at market
open under the symbol “ BURG”. This follows the closing of the Company’s successful initial public offering
(“IPO”) led by Haywood Securities Inc. and Laurentian Bank Securities Inc. and including Echelon Wealth Partners
Inc.
David Clark, CEO of the Company, said: “On behalf of Burin Gold, I would like to thank our existing and new
shareholders for their support throughout this successful IPO process. We are looking forward to starting this next
pivotal chapter of Burin Gold’s growth as a listed company and owe our thanks to our shareholders, consultants,
and partners for helping the Company to reach this important milestone. I also would like to thank Plethora Private
Equity Fund for their belief in the potential of this project and their support in incubating the Company since 2018.
The proceeds from the IPO will be used to execute our planned exploration programs on the Hickey’s Pond –
Paradise Gold project located in eastern Newfoundland.”
Phillip Walford, Chair of the Board, said: “On behalf of the Board of Burin Gold, I would like to thank all those
who contributed to this successful IPO. This financing enables the Company to conduct a well-designed exploration
program in 2022 with a n initial focus on the Hickey’s Pond gold zone followe d by exploration on the known but
currently under-explored and undrilled epithermal gold showings elsewhere on the large property. It is going to be
an exciting year for Burin Gold and Burin Gold shareholders.”
Burin Gold is a new public company currently focused on follow-on drilling at its prospective Hickey’s Pond-
Paradise Gold Project where a 2020 drill program intersected mineralisation of 58.25 m of 1.12 g/t gold from
surface, including 10.80 m of 4.43 g/t gold (see the Company’s news release of February 24, 2021, issued under its
previous name of Bonavista Resources Corp. ) The Company operates in an under-explored district of
Newfoundland, Canada ; a tier-one jurisdiction recognized for mining investment based on mineral potential,
favourable geopolitical jurisdiction, historical mining, and ongoing exploration successes. Burin Gold is led by a
Board and Executive Management team with a strong track record of achievement, particularly in Newfoundland.
The Board includes Phillip Walford as Chair, founder and former President & CEO of Marathon Gold Corporation
(“Marathon”) and Sherry Dunsworth, former Senior Vice President of Exploration at Marathon. Both Mr. Walford
and Ms. Dunsworth were awarded the 2021 PDAC Prospector of the Year Award for their contributions to the
discovery of the Valentine Gold Project in Newfoundland during their time at Marathon.
The Company’s principal asset is its Hickey’s Pond – Paradise Gold Project on the Burin Peninsula of the island of
Newfoundland. The project includes the Hickey’s Pond prospect, drill tested by Burin in 2020, as well as several
promising historical showings that have yet to be drill tested. The Company’s immediate focus will be the initiation
of an airborne geophysic al survey over the entirety of its mineral licences, to complement previous smaller
geophysical programs as well as the signing of a contract for diamond drilling services for its planned drilling
program, due to commence in Q1/2022. The project is fully permitted for diamond drilling.
Hickey’s Pond – Paradise Gold Project
The Company’s Hickey’s Pond – Paradise Gold project consists of mineral licences covering 159 km 2 located on
the Burin Peninsula, in the eastern part of the island of Newfoundland. The project covers a more than 20 km strike
length of highly perspective ground including two parallel alternation trends hosting numerous undrilled high
sulphidation epithermal gold showings. The most advanced showing, historically referred to as the Hickey’s Pond
showing, consists of a folded auriferous alteration zone characterized by significant gold grades and widths exposed
over 250 m strike length. This showing is hosted within a large north-east trending, >10 km alteration system that
has received limited historical exploration . The Company, active in Newfoundland since 2018 ( until early 2021
operating as a private company under its former name of Bonavista Resources Corp.) has significantly advanced
the property through several exploration programs, including a 2018 channel sampling program that returned results
of 20.0 m of 9.34 g/t Au (see Bonavista Resources Corp. news release of September 12, 2018), airborne geophysics
that outlined a 7 km long chargeability anomaly coincident with surface mineralisation at Hickey’s Pond, and most
recently a seven hole, 1026 metre diamond drill progr am at the Hickey’s Pond prospect in late 2020. This initial
drill program at Hickey’s Pond intersected a best result of 10.8 m of 4.43 g/t Au at shallow depth.
Additional information about Burin and its Hickey’s Pond – Paradise Gold Project can be found on SEDAR at
www.sedar.com and on the Company’s website at www.burin-gold.com.
Introductory Webinar
Burin Gold hosted an introductory webinar on November 22nd, after the closing of its IPO. David Clark, Burin’s
President & CEO, provided an overview of the company and its flagship Hickey’s Pond – Paradise Gold Project.
A recording of the webinar is available and can be accessed via the following link: youtu.be/Q_TxCfA5GA4
About Burin Gold Corp.
Burin Gold is a newly listed public company on the TSX Venture Exchange. The Company’s principal asset is its
Hickey’s Pond – Paradise Gold Project on the Burin Peninsula, Newfoundland. This project contains the Hickey’s
Pond gold prospect, drill tested with an initial 1,000 m drill program in 2020 with best results of 10.8 m of 4.43 g/t
Au, as well as numerous other historical high-sulphidation epithermal gold showings that have yet to be drill tested.
With the successful completion of its IPO, the Company is well -positioned to commence a significant diamond
drilling campaign at the Hickey’s Pond prospect, planned to start Q1/2022.
Qualified Person
David Clark, MSc, PGeo, CEO of Burin Gold, is the Company’s designated Qualified Person within the meaning
of National Instrument 43- 101 Standards of Disclosure for Mineral Projects (“ NI 43-101”). He has prepared the
technical content of this news release.
Acknowledgement
The Company acknowledges the financial assistance of the Mineral Development Division, Department of Industry,
Energy, and Technology, Government of Newfoundland & Labrador, via its Junior Exploration Assistance
Program. The program provides valuable financial rebates on exploration expenditures made in the province to
qualifying exploration companies. The Company has benefited from the program yearly since 2018.
On behalf of the Board
“David Clark”
CEO & Director
For Further Information:
David Clark
CEO & Director
Burin Gold Corp.
1-877-620-4185 – toll free
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward looking statements
include 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 condition or result to occur. Forward looking statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking statements are based on
assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events,
results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements,
exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, t iming of the
commencement of operations and estimates of market conditions. Factors t hat could cause actual results to differ materially from such
forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated miner al
resources to reserves, the inability to complete a feasibi lity study which recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political
risks, inability to fulfill the du ty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and
costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in com modity prices,
delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the
mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company,
including but not limited to the effects of COVID -19 on the price of commodities, capital market conditions, restriction on labour and
international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.