St. James GOLD Corp. (TSX-V: LORD) Announces Its 100% Acquisition of the Grub LINE Property and 9 of 28 Claims ON the Quinn Lake Property, Newfoundland
ST. JAMES GOLD CORP. (TSX-V: LORD) ANNOUNCES ITS 100%
ACQUISITION OF THE GRUB LINE PROPERTY AND 9 OF 28 CLAIMS
ON THE QUINN LAKE PROPERTY, NEWFOUNDLAND
Vancouver, British Columbia, Mar. 10th, 2022 (GLOBE NEWSWIRE) -- St. James Gold
Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) The Company is
pleased to announce it has acquired 100% interest o n all 29 claims for the Grub Line property
and 33% interest on 28 claims for the Quinn Lake property.
Following recent drilling activity in central Newfo undland by neighbouring companies, both
properties were currently standing at the second ye ar of their respective four-year option
agreements, and together represent an unencumbered 100% interest in 2,300 acres in the highly
prospective central Newfoundland gold belt.
The acquisition of 100% interest in the Grub Line p roperty follows recent news by New Found
Gold Corp. in announcing assay results designed to expand the new gold zone nearby the Keats
discovery and its ongoing 400,000 metre diamond dri ll program at its Queensway Project. The
Grub Line property is located 8 km east of the orig inal Keats discovery and 3 km west of the
Town of Gander on the island of Newfoundland, Canada.
The acquisition of 100% interest in 9 of 28 claims in the Quinn Lake property follows recent
drill assay results by Marathon Gold on its Valenti ne Gold Project in central Newfoundland.
Marathon Gold’s 2022 work program will include 50,0 00 metres of diamond drilling and a
significant prospecting program along nearly 13 kilometres of geological contact at the Valentine
Lake Shear Zone between the Victory Deposit and the eastern boundary of the property – a
boundary that it shares with St. James Gold Corp.’s Quinn Lake property.
The reader is cautioned that the mineralization on a nearby or adjacent property does not
necessarily indicate that any mineral resources may be discovered on the Quinn Lake or the Grub
Line properties, or if discovered, that it would be economically recoverable. Readers should
distinguish information from an adjacent property and the Company’s properties.
As stated by George Drazenovic, CEO, St. James Gold, "With gold spot prices in a favorable
upswing, owning 100% of the Grub Line and nearly on e-third of the Quinn Lake properties
allows us to further advance our exploration and dr ill program for our Newfoundland assets. As
evidenced by the recent announcements by New Found Gold, the drills operating at Keats
continue to step out in all directions suggesting t he original discovery is open to extension.
Similarly, the announcement of an increased drillin g program by Marathon Gold nearby our
Quinn Lake property bodes well for further defining the gold corridor along the Valentine Lake
shear Zone. Together, we hope the ownership of the se assets will be a key driver as we look to
unlock shareholder value.”
The technical information included in this news rel ease has been prepared, supervised, and
approved by Dr. Stewart A Jackson, PGeo., a Qualifi ed Person under National Instrument 43-
101, and technical advisor to the Company.
About St. James Gold Corp.
St. James Gold Corp. is a publicly traded company l isted on the TSX Venture Exchange under
the trading symbol “LORD”, in the U.S. Market liste d on OTCQB under "LRDJF" and on the
Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder
value through the discovery and development of econ omic mineral deposits by acquiring
prospective exploration projects with well-delineat ed geological theories; integrating all
available geological, geochemical, and geophysical datasets; and financing efficient exploration
programs. The Company currently holds: (i) 100-per- cent stake in 29 claims, covering 1,791
acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found
Gold Corp.'s Queensway North project; and (ii) a 100-per-cent stake in 9 claims and an option to
acquire a further 100-per-cent interest in 19 claim s, covering a total 1,730 acres, in central
Newfoundland located adjacent to Marathon Gold's Valentine Lake property; and (iii) an option
to acquire up to an 85-per-cent interest in the Flo rin Gold Project, covering nearly 22,000
contiguous acres in the historical Tintina gold belt in Yukon Territory, Canada.
For more corporate information please visit: http://stjamesgold.com/
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: [email protected]
Forward Looking Statements
This news release contains forward-looking statemen ts and forward-looking information within
the meaning of Canadian securities laws (collective ly, “forward-looking statements”). Forward
looking statements in this news release relate to, among other things: proposed drilling and
exploration programs; the future work programs proposed by other issuers on nearby properties;
the advancement of either the Grub Line or the Quin n Lake exploration programs; and all other
statements that are not historical facts, particula rly statements that express, or involve
discussions as to, expectations, beliefs, plans, ob jectives, assumptions or future events or
performance of the Company. Often, but not always, forward-looking statements can be
identified through the use of words or phrases such as “will likely result”, “are expected to”,
“expects”, “will continue”, “is anticipated”, “anti cipates”, “believes”, “estimated”, “intends”,
“plans”, “forecast”, “projection”, “strategy”, “obj ective” and “outlook”. Forward-looking
statements contained in this news release are made based on reasonable estimates and
assumptions made by management of the Company at the relevant time in light of its experience
and perception of historical trends, current conditions and expected future developments, as well
as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-
looking statements contained in this news release are made as of the date of this news release and
the Company will not update any such forward-looking statements as a result of new information
or if management’s beliefs, estimates, assumptions or opinions change, except as required by
law. There can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements.
Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknow n risks, uncertainties, and other factors,
many of which are beyond the Company’s control, whi ch could cause actual results,
performance, achievements, and events to differ mat erially from those that are disclosed in or
implied by such forward-looking statements. Such ri sks and uncertainties include, but are not
limited to, the impact and progression of the COVID -19 pandemic and other factors outlined in
the Company’s Annual Information Form dated July 26 , 2021 (the “ AIF ”) filed under the
Company’s profile on SEDAR at www.sedar.com . The Company cautions that the list of risk
factors and uncertainties described in its AIF on S EDAR are not exhaustive and other factors
could materially affect its results.
New factors emerge from time to time, and it is not possible for the Company to consider all of
them or assess the impact of each such factor or the extent to which any factor, or combination of
factors, may cause results to differ materially fro m those contained in any forward-looking
statement. Any forward-looking statements contained in this news release are expressly qualified
in their entirety by this cautionary statement.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES O F THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE AD EQUACY OR
ACCURACY OF THIS RELEASE.