St. James GOLD Corp. (TSX-V: LORD) Provides Corporate Update to Shareholders
ST. JAMES GOLD CORP. (TSX-V: LORD) PROVIDES CORPORATE UPDATE TO
SHAREHOLDERS
Vancouver, British Columbia, October 27st, 2021 - St. James Gold Corp. (the “Company”)
(TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to provide a corporate update on
its activities for 2021.
Highlights:
Completion of 2021 drill exploration program on its Florin Gold Project in the Yukon
Territory
Successful capital financings of $10,000,000
Expansion of stock listing in the FSE and OTCQB markets
Successful DTC listing on the OTC market
Commencement of work exploration activities on its Newfoundland claims
Following the successful participation of last week’s New Orleans Gold Conference, one of the
first large scale in person conferences of its kind in the past 20 months. The Company is awaiting
the core drill sample results of its recently completed field season drill program at the Florin
Gold Project in the Yukon Territory , Canada. In spite of a late start in the season, the field team
completed 3,613 metres of d iamond drilling intended to test the projected extensions of
mineralization adjacent to the 2.47 million ounce inferred gold resource (170,993,000 tonnes
grading 0.45g/t Au with a 0.30g/t Au cut-off).
The current inferred resourc e extends approximately 900 metres along strike of the Jethro fault
which has been traced for five kilometres and is the site of three further, significant geochemical
anomalies. In addition to the assay results expected to be received in the coming weeks, the field
season saw soil geochemistry survey s completed to fill in previously unsampled areas of the
Property, both of which will assist in guiding targets for the proposed 2022 drill campaign.
In addition to the acquisition of the option agreement on the Florin Gold Project, the Company is
preparing to explore its properties - Grub Line and Quinn Lake - in Newfoundland, Canada. The
Grub Line property, in particular, is situated adjacent to the licenses held by New Found Gold, a
company that recently announced a $45 m. non-brokered private placement by Eric Sprott, and
an expansion of the current drill program at the adjacent Queensway Property to a total of
400,000 metres. As a result of the proliferation of activity in the region, St. James Gold is
pleased to ann ounce that it has amended option agreement terms for both the Grub Line and
Quinn Lake properties, specifically offering additional payments to the vendors if it obtains a n
NI 43-101 Report estimating an inferred mineral resource of not less than 750,000 oz Au, up
from 100,000 oz Au.
The Quinn Lake project is well situated along strike from the Valentine Lake gold project
operated by Marathon Gold Corp . and is surrounded to the northwest by the highest gold
anomalies found in tills by Noranda in 1989. In addition, mineralized boulder trains were
reported along the boundary to the southwest by the predecessors of Marathon Gold Corp., and
new discoveries were made on adjacent ground to the nort heast. Due to complex glacial history
of the area and the nature of surficial materials sampled (e.g. gold -rich boulder trains), it is
possible that the bedrock sources of gold are located on the Quinn Lake property.
The proposed fieldwork activities plann ed for Quinn Lake will be the first systematic and
interdisciplinary approach to unravel the geology of the area and identify gold mineralization
targets that will be drill -tested this summer. A site visit, perf ormed to comply with NI 43-101
reporting on the Quinn Lake property, confirmed good access, moderate topographic and climate
conditions and presence of local amenities, all of which are considered conducive to conducting
cost-effective exploration programs.
While the Company has been active undertaki ng field activities, it has also expanded its market
outreach by listing on the FSE public exchange and obtaining DTC approval in the US, the latter
an i mportant milestone towards broadening its market presence across the United States and
enabling securities to be traded over a much wider selection of brokerage firms . The Company
has raised $10,000,000 over several private placements and is initiating steps to increase its
profile to a wider base of investors.
George Drazenovic, CEO, St. James Gold, stated , “We are excited to continue to build on the
work completed over the past year. As evidenced by our recent site visit to the Florin Gold
Project in the Yukon Territory, we are following up with our commitments and previously stated
goals to explore our pr operties and seek to deliver enhanced value to our shareholders. The easy
accessibility of our properties, in particular, will serve as a catalyst for further exploration as we
look to ramp up our exploration activities in 2022. In the coming weeks, we will look to
announce further developments.”
Dr. Stewart Jackson, P Geo, senior technical advisor geologist, and a Qualified Person within the
meaning of National Instrument 43 -101 (Standards of Disclosure for Minerals Projects), has
reviewed and approved the technical and scientific information presented herein as accurate and
has approved this news release.
About St. James Gold Corp.
St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under
the trading symbol “LORD”, in the U.S. Market listed on OTCQB under "LRDJF" and on the
Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shar eholder
value through the discovery and development of economic mineral deposits by acquiring
prospective exploration projects with well -delineated geological theories; integrating all
available geological, geochemical, and geophysical datasets; and financ ing efficient exploration
programs. The Company currently holds: (i) an option to acquire a 100 -per-cent interest in 29
claims, covering 1,791 acres, in the Gander gold district in north -central Newfoundland located
adjacent to New Found Gold Corp.'s Queen sway North project; and (ii) an option to acquire a
100-per-cent interest in 28 claims, covering 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 Florin Gold Project, covering nearly 22,000 contiguous acres in the
historical Tintina gold belt in the Yukon.
For more corporate information please visit: https://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 statements and forward -looking information within
the meaning of Canadian securities laws (collectively, “forward -looking statements”). Forward
looking statements in this news release relate to, among other things: completion of the Offering;
the timing and size of the Offering; the timing and receipt of approval from the TSXV for the
Offering; the expected use of the net proceeds of the Offering and all other statements that are
not historical facts, particularly statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, 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 phr ases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is
anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”,
“strategy”, “objective” 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 ev ents
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 unknown risks, uncertainties, and other fac tors,
many of which are beyond the Company’s control, which could cause actual results,
performance, achievements, and events to differ materially from those that are disclosed in or
implied by such forward -looking statements. Such risks 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 SEDAR 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 from 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 OF THE TSX
VENTURE EX CHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.