Inovent Capital Completes Qualifying Transaction and Private Placement Acquires King’s Point Gold, Copper & Zinc Property in Newfoundland
Inovent Capital Inc. Suite 1130 – 400 Burrard Street, Vancouver, BC Canada V6C 3A6
www.inoventcapital.com
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S.
NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Inovent Capital Completes Qualifying Transaction and Private Placement
Acquires King’s Point Gold, Copper & Zinc Property in Newfoundland
Changes Name to Inomin Mines
Vancouver, British Columbia, February 1, 2017 – David Brett, CEO, reports that Inomin Mines
Inc. (TSX Venture – MINE) (formerly Inovent Capital Inc.; TSX Venture: IVQ.P) (the “Company")
has re ceived final approval from the TSX Venture Exchange (“TSX -V”) for its Qualifying
Transaction (“QT”) under the rules of the TSX -V’s Capital Pool Program, and will recommence
trading at the open on Thursday, February 2 nd, 2017 under its new name Inomin Mines Inc. and
new trading symbol MINE, and will no longer be considered a Capital Pool Company. The
Company’s QT consisted of the acquisition of 100% of the King’s Point Property (the “Property”)
in Newfoundland under the terms outlined below. At commencement of trading, the Company will
have 12,768,259 shares outstanding, of which 2,300,000 are subject to a 3 -year escrow period.
Following the issuance of the Property acquisition escrow shares outlined below, the Company
will have 15,518,259 shares outstanding.
Located in the Green Bay area of Newfoundland, the Property c omprises 129 claims covering
3,225 hectares within two separate blocks (North & South) hosting numerous mesothermal gold
and Buchans-type volcanogenic massive sulphide exploration targets in an established precious-
and base-metal mineral belt. See below for additional Property details.
To acquire 100% of the Property, subject to an NSR of 2.5% in favour of the vendors (1.5% of
which NSR is purchasable at any time for $1,000,000), Inomin will issue 2,750,000 escrow shares
to the vendor.
As part and parcel of the QT, the Company has closed a fully subscribed private placement
consisting of 7,903,459 units at $0.07 per unit (the “Units”) for gross proceeds of $553,242.13.
Each Unit consists of one common share and one warrant to purchase an additional common share
at a price of $0.10 for a period of two years ending January 30, 2019. All securities issued under the
placement are subject to a hold period of 4 months ending May 31, 2017. Finder’s fees paid under
the financing consist of $3,903.20 in cash and the issuance of 55,760 warrants exercisable at
$0.10 for two years.
Certain insiders of the Company participated in the private placement, constituting a related party
transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61 -101 –
Protection of Minority Security Holders in Special Transactions (“MI 61 -101”). The Company
relied on section 5.5(a) of MI 61 -101 for an exemption from the formal valuation require ment and
section 5.7(1)(a) of MI 61 -101 for an exemption from the minority shareholder approval
requirement of MI 61 -101 as the fair market value of the related -party portion of the transaction
did not exceed 25% of the Company’s market capitalization.
About the King’s Point Gold-Copper-Zinc Property
The King’s Point Gold -Base Metals Project is part of the prolific Catcher’s Pond Greenstone Belt
in the Green Bay area of Newfoundland noted for high grade gold deposits and low exploration
costs. The Project area, having excellent infrastructure and accessibility, is located only minutes
from the communities of King’s Point and Springdale, the mining hub of Newfoundland. The
Property is host to numerous priority “Buchans Type” VMS exploration targets, as well as
advanced stage targets including the Golden Anchor mesothermal gold prospect, the Rendell -
Jackman gold bearing “Betts Cove Type” VMS deposit, and the Beetle Pond zinc prospect. These
targets lie immediately along strike and adjacent to claims held by M aritime Resources Corp.,
Inovent Capital Inc. Suite 1130 – 400 Burrard Street, Vancouver, BC Canada V6C 3A6
www.inoventcapital.com
host to the high grade Hammerdown Gold Deposit, the Orion Gold Deposit and the Lochinvar
VMS Deposit.
King’s Point Project Highlights:
Recent sampling of the historic and undeveloped Rendall-Jackman VMS deposit returned
21 of 31 samples assaying greater than 1 g/t gold (“Au”) and up to 12.7 g/t Au. Copper
values ran up to 9.9% Cu.
Ground strategically positioned adjacent to and surrounded by Maritime Resources Corp.
and miner Rambler Metals and Mining Pty.
Excellent potential exists within the Property to discover additional gold and base metal
deposits.
Claims contain highly prospective ground for both high grade mesothermal gold and gold
bearing VMS Deposits. The northern claim group lies directly along strike to the known
Hammerdown and Rumbullion gold vein system and within 200 meters of the Lochinvar
VMS Deposit. The claims also host the Rendall -Jackman gold bearing VMS Deposit,
Golden Anchor Gold Prospect and Beetle Pond VMS Prospect.
Recent Induced Polarization/Resist ivity surveys over the Rendall -Jackman Deposit,
Beetle Pond and Golden Anchor Prospects have defined new drill targets in areas never
tested.
Inovent Capital Inc. Suite 1130 – 400 Burrard Street, Vancouver, BC Canada V6C 3A6
www.inoventcapital.com
Key Targets:
Northern Claims Block
Golden Anchor Prospect
Discovered by Major General Resources Ltd. in 1993 , Golden Anchor is characterized by a 500
meter long, 110 degree trending gold in soil geochemistry anomaly that has been compared in
size and magnitude to that of the Hammerdown Gold (“Au”) Deposit held by Maritime. Only two
drill holes have intersected t his anomaly with one encountering highly anomalous results of 1.86
g/t Au over 2 meters. Recent geophysical surveys and geological work over this area have
delineated significant targets of interest for follow -up work and have provided a new geological
understanding of the area.
Rendell Jackman Deposit
Rendell Jackman was discovered during the late 1890’s and experienced a small amount of
mining during the early 1900’s. The area saw only cursory exploration work during the 1980’s
and 1990’s by Noranda Exploration Company Ltd., who identified two separate stratigraphic VMS
lenses. Significant assays from this program included trenching results of 3.09 g/t Au, 7.9 g/t Ag
and > 1% Cu over 3.4 m and assays from one of two shallow drill holes returned valu es of 1.24%
Cu, 6.5 % Zn, 14.3 g/t Au, 19.6 g/t Ag over 0.6 m followed one meter deeper by 0.82% Cu, 0.22%
Zn, 6.99 g/t Au, 5.8 g/t Ag over 0.7 m. Recent geophysical work and sampling have identified an
open ended, strong Induced Polarization/Resistivity r esponse over a strike length of 200 meters
along with assays results from the area of up to 12.7 g/t Au, 6.7% Cu and 15.4 g/t Ag.
Beetle Pond Prospect
Beetle Pond is considered to be the strongest zinc anomaly in the Green Bay area as defined by
work performed by Hudson Bay/Anglo Gold. With only very limited work Hudson Bay commented
that “Further consideration should also be given to deep exploration in the vicinity of Beetle Pond
as this area is host to widespread, visually impressive, alteration an d disseminated sulphide
mineralization potentially associated with a significant, deeply buried, massive sulphide deposit.”
Southern Claims Block
The Southern Blocks have been explored to a lesser degree and provide significant discovery
potential.
Ursa Minor
The Ursa Minor Zone consists of stringer and semi -massive sulphide mineralization returning low
grade base and precious metal assays over broad widths including 0.23 g/t Au and 25 g/t Ag over
30.8 m as well as 1.1% Zn over 13.5 m . Surveys over the Ursa Minor sulphide zone detect the
known mineralization as a coincident chargeability high/ resistivity low and suggest the horizon
remains open in both strike directions.
Pieces Showing
Discovered by Phelps Dodge in 1997, this zone is hosted by f elsic volcanics of the Indian Brook
package and consists of a narrow band (vein?) of high -grade massive sulphide intersected in
drilling assaying 12.9% Zn, 8.5% Pb, 1.02% Cu, 54 g/t Ag and 0.11 g/t Au over 0.13 m (hole GF -
3, Thurlow, 1997). Subsequent dril ling by Phelps Dodge intersected similar sulphides down dip;
however, the zone remains untested along strike and at depth below 100 m (Thurlow, 1998).
Inovent Capital Inc. Suite 1130 – 400 Burrard Street, Vancouver, BC Canada V6C 3A6
www.inoventcapital.com
Goldfish Showing
Also discovered by Phelps Dodge in 1997, this zone is located in the northeast corner of license
4330 and consists of a 0.65 m wide section of granular, pyritic, massive sulphides intersected in
drill hole GF-9 assaying 1.36% Zn, 0.69% Pb, 0.06% Cu, 164.5 g/t Ag and 0.95 g/t Au over 0.65
m (Thurlow, 1997). The mineralization is interpreted to occur at a transitional contact between
aphyric rhyolite breccias (Indian Brook felsic package) and an overlying sequence of felsic
tuffaceous rocks and sediments (Batters Brook felsic volcanic package).
Qualified Person Statement
L. John Peters, P. Geo., who is an independent Qualified Person within the context of National
Instrument 43-101 has read and takes responsibility for this news release.
Inomin Mines Inc.
Per: “David Brett”
David H. Brett, MBA
Chief Executive Officer & Director
For more information please contact:
John Gomez, Director
Tel. 6044847118
David Brett
Tel. 6046822421
www.inoventcapital.com
Forward-Looking Statement Caution
This p ress release contains certain "forward -looking statements" within the meaning of Canadian securities legislation,
relating to, among other things, the mineral exploration potential of the King’s Point Property. Although the Company
believes that such state ments are reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by
the words "expects," "plans," "antici pates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal,"
"objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or
"should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that
Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date
the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances
that such statements will prove to be accurate and actual results and future events could differ materially from those
anticipated in such statements. Except to the extent required by applicable securities law s and the policies of the TSX
Venture Exchange, the Company undertakes no obligation to update these forward -looking statements if management's
beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to diff er materially
from those anticipated in these forward -looking statements include, accidents and other risks associated with mineral
exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the
Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's
exploration plans, and the risk of political uncertainties and regulatory or legal changes in that might interfere with the
Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the
Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com,
including its Filing Statement dated January 20, 2017 for a more complete discussion of such risk factors and their
potential effects.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS,
IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
Neither the 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.