Leocor Gold adds strategic ground in Baie Verte Mining District, Central Newfoundland, Canada.
Leocor Ventures Inc.
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
LEOCOR GOLD ADDS STRATEGIC GROUND IN BAIE VERTE MINING DISTRICT,
CENTRAL NEWFOUNDLAND, CANADA
Vancouver, British Columbia – February 5, 2021 - Leocor Gold Inc. (the “Company” or “ Leocor”)
(CSE: LECR ; OTCQB: LECR F; Frankfurt: LGO ) is pleased to announce that it has entered into an
option agreement (the “Option Agreement”) dated February 1, 2021 with Stanley H.B. Squires and
Robert P. McGuire (together, the “ Optionor”), purs uant to which Leocor has t he o ption (the
“Option”) to acquire a 100% interest in 13 mineral claims comprising approximately 325 Ha
located in Newfoundland and Labrador (the “Project”).
The claims consolidate the ground between and adjacent to the Compan y’s central Dorset Gold
Project and The Copper Creek project to the north. The acquisition creates a now contiguous land
package of almost 2,000 hectares within the prolific Baie Verte Mining District.
“We’re happy we were able to add th is strategically important ground,” said CEO, Alex Klenman.
“The acquisition allows us to follow geochemical and geo physical indicat ors east and so uth of
Dorset. The added ground establishes scale by connecting Five Mile Brook to the south to Copper
Creek in the north, forming one larger 1,975 hectare contiguous package. Dorset is the anchor but
adding the ground north and south and connecting it all gives us greater upside poten tial,”
continued Mr. Klenman.
In order to exercise the Option, Leocor must make cash payments to the Optionor of $45,000 over
three years. Upon exercise of the Option, the Optionor will retain a 2% NSR royalty , provided that
Leocor will have the right to purchase from Optionor 50% of the 2% NSR royalty upon payment of
the sum of $1,000,000 to Optionor at any time.
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Figure 1: Location of Leocor’s project ground, Baie Verte, Newfoundland, Canada
Copper Creek Amendment
The Company also announces that it has amended the terms of the option agreement
dated August 11, 2020 between the Company and L ai Lai Chan, pursuant to which the
Company has the option to acquire a 100% interest in the Copper Creek Project located in
Newfoundland and Labrador, as follows: (1) the Expenditures required to be incurred on
or before December 31, 2020 have been reduced from $50,000 to $15,000; and (2) the
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Expenditures required to be incurred on or bef ore August 11, 2021 have been increased
from $100,000 to $135,000.
Further details of the option agreement are disclosed in the Company’s news release
dated August 27, 2020.
About Leocor Gold Inc.
Leocor Gold Inc. is a British Columbia -based resource company involved in the acquis ition and
exploration of precious metal projects, with a current focus in Atlantic Cana da. Leocor, through
outright ownership and earn-in agreements, currently controls three gold-copper projects in prime
exploration ground within the prolific Baie Verte Mining District, proximal to known deposits and
currently producing mines, including Anaconda Mining’s Pine Cove Mine and Stogertite deposit,
and Rambler Metals’ Min g Mine. Leocor’s Atlantic Canada portfolio includes the Dorset, Copper
Creek and Five Mile Brook projects, creating a contiguous nearly 2,000 hectare exploration
corridor.
Contact Information
Leocor Gold Inc.
Alex Klenman, Chief Executive Officer
Email: [email protected]
Telephone: 604-681-0084
www.leocorgold.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities
laws. Such information includes, without limitation, information regarding the terms and
conditions of the Option. Although Leocor believes that such information is reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: “believe”, “expect”,
“anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by
their nature, refer to future events. Leocor cautions investors that any forward-looking information
provided by Leocor is not a guarantee of future results or performance, and that actual results may
differ materially from those in forward looking information as a result of various factors, including,
but not limited to: the agreement of the parties to proceed with the proposed transaction on the
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terms set out in the Option Agreement or at all; Leocor's ability to exercise the Option; the state of
the financial markets for Leocor's securities; the state of the natural resources sector in the event
the Option is completed; recent market volatility; circumstances related to COVID-19; Leocor's
ability to raise the necessary capital or to be fully able to implement its business strategies; and
other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor's
initial public offering prospectus for a more complete discussion of applicable risk factors and their
potential effects, copies of which may be accessed through Leocor’s issuer page on SEDAR at
www.sedar.com.
The forward-looking statements contained in this press release are made as of the date of this
press release. Leocor disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required
by law.