Japan Gold Announces Year-End Financial Results
TSX-V: JG
Japan Gold Corp.
Suite 650 – 669 Howe Street, Vancouver, BC V6C 0B4 Canada
Phone: +1 778-725-1491
www.japangold.com
NEWS RELEASE
Japan Gold Announces Year-End Financial Results
May 3, 2017– Vancouver, BC - Japan Gold Corp. (TSX -V: JG) (OTCQB: JGLDF) (“Japan Gold” or the
“Company”) announces that the Company’s audited consolidated financial results for the six month financial
year ended December 31, 2016 have been filed on SEDAR. The full version of the Financial Statements and
Management’s Discussion & Analysis can be viewed on the Company’s website at www.japangold.com or on
SEDAR at www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.
The Company changed its fiscal year-end from June 30 to December 31, effective December 31, 2016 in order to
coincide with its peers in the mi ning industry. Accordingly, the current consolidated financial statements are
prepared for six months from July 1, 2016 to December 31, 2016. As a result, the figures stated in the consolidated
statements of loss and comprehensive loss, changes in equity, cash flows and the related notes are compared to the
consolidated financial statements for the year ending June 30, 2016. The consolidated statements of financial
position are as at December 31, 2016 and June 30, 2016. As such, these amounts may not be entirely comparable.
FINANCIAL SNAPSHOT
December 31, 2016 June 30, 2016 June 30, 2015
Total assets $ 5,559,592 $ 8,270 $ 12,287
Working capital 5,343,655 (948,669) (483,042)
Comprehensive loss* (8,180,491) (465,627) (386,852)
*The $8,180,491 of comprehensive loss was due primarily to a one-time reverse acquisition cost of $4,694,258 relating to the acquisition
of Southern Arc Minerals Japan KK.
As at May 1, 2017, Japan Gold had approximately $4.4 million in working capital.
Corporate and Operating Highlights for the Six Month Financial Year Ended December 31, 2016
On September 15, 2016, the Company acquired Southern Arc Minerals Japan KK and changed its name
to Japan Gold Corp. from Sky Ridge Resources Ltd., launching the first foreign mineral exploration
company to focus solely on Japan.
In connection with the acquisition on September 15, 2016, the Company completed a financing for gross
proceeds of $7,000,000 for 17,500,000 common shares at a price of $0.40 per share.
At the time of the acquisition, Japan Gold held 80 prospecting rights license applications covering 27,153
hectares across eight distinct projects prospective for high -grade gold and potentially porphyry copper-
gold mineralization, including several historical high-grade gold mines.
As at May 1, 2017, the Company had increased its project portfolio from 80 to 160 accepted prospecting
rights license applications covering 53,218 hectares over eleven separate projects on three main islands of
Japan, Hokkaido, Honshu and Kyushu.
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In December 2016, the Company completed a regional exploration program at the priority Ikutahara
Project. Six geologists and support teams undertook a nine-week field program from October to December
2016, completing prospecting, geological mapping, collecting stream sediment BLEG and fine fractio n
drainage samples and rock float and outcrop sampling over the majority of the initial 38 Ikutahara Project
applications.
Results of the Ikutahara exploration program highlighted large coherent gold and gold -pathfinder
anomalies over extensive drainage areas within the Ikutahara Project area.
On December 1, 2016, the Company was granted Prospecting Rights over its nine contiguous applications
covering the Eboshi Project in northern Honshu, totaling 3,080 hectares.
On April 25, 2017, the Company announced key appointments to its senior management and Board of
Advisors. Takashi Kuriyama, a Japanese geologist with over 42 years of domestic and international
exploration and mining business experience, and previously the General Manager of Global Exploration
and Development, Sumitomo Metal Mining Co., Ltd., formally accepted the post of General Manager,
Exploration. In addition, internationally respected geologists Douglas Kirwin and Dr. Steve Garwin joined
the Company’s Board of Advisors.
Strategic Priorities
Continue to build a high quality project portfolio in Japan.
Advance the top priority Ikutahara Project . The Company has identified targets for the 2017 drilling
campaign, developed from:
- Historical results from two of the 16 past producing mines on the project.
- Encouraging results from the 2016 regional exploration program at Ikutahara.
Complete regional exploration program at the second priority A ibetsu Project in order to develop drill
targets for the 2018 drill campaign.
Complete detailed geological and alteration mapping of the Eboshi Project, which has been granted
Prospecting Rights.
On behalf of the Board of Japan Gold Corp.
“John Proust”
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration
in Japan. The Company has applied for 160 prospecting rights licenses for a combined area of 53,218 hectares
over eleven separate projects. The Co mpany’s portfolio now has projects on the three main islands of Japan,
Hokkaido, Honshu and Kyushu. Seven projects cover areas with known gold occurrences and a history of mining,
and are prospective for high-grade epithermal gold mineralization. Four of the projects, in southern Hokkaido and
northern Honshu , are located over gold-bearing lithocaps, which may indicate the presence of porphyry
mineralization, a deposit style yet to be identified in Japan. Japan Gold’s leadership team has decades of resource
industry and business experience, and the Company has recruited geologists and technical advisors with experience
exploring and operating in Japan. Low-impact surface exploration is underway, with the expectation of applying
for drilling this year. More information is available at www.japangold.com or by email at [email protected].
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Japan Gold Contacts
John Proust
Chairman & CEO
Phone: 778-725-1491
Email: [email protected]
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.