Majestic Options Prospective Lithium Tenements IN Western Australia
MAJESTIC OPTIONS PROSPECTIVE LITHIUM TENEMENTS IN
WESTERN AUSTRALIA
Vancouver, British Columbia – July 2 , 2021 - Majestic Gold Corp. (“Majestic” or the
“Company”) (TSX.V: MJS, FSE: A0BK1D) is pleased to announce that it has entered into a letter
of intent (“LOI”) with Western Explorers PTY Ltd. (“Western Explorers”) , a private Australian
corporation, to acquire a 65% interest in four separate tenements located in Western Australia, an
area with demonstrated potential for the discovery of lithium oxide mineralization.
E36/918
This tenement has been granted and consists of 2 blocks located 150 kms North of Leonora, about
50 kms north of Leinster, along the east side of the Kathleen Valley. Th e property is prospective
for both lithium and tantalum and is underlain by the Norseman -Wiluna Greenstone Belt, within
the Archaean Yilgarn Craton in Western Australia. Lithium mineralisation is hosted within
spodumene-bearing pegmatites, which are part of a series of rare-metal pegmatites that formed at
the edge of granite as well as within the greenstone belt in the region. Three kms to the west is
Liontown Resource’s Kathleen Valley project which has several mineralised pegmatites which are
formed with in the structure of the greenstone belt and have been modelled at the Kathleen Valley
hosted by two outcropping northwest trending pegmatite swarms.
E37/1334
This tenement has been granted and consists of six blocks located west of Leonora township, 200
kms North of Kalgoorlie and 700 kms northeast of Perth, in the Goldfields region. The project is
in the Y ilgarn craton granite s on the West side of the Wiluna -Norsman structure. Lithium
mineralization is formed along the periphery of the granite, at the edge of the greenstone
belt. Although there is no outcrop of pegm atite in the tenement area , gold mining in the area by
Sons of Gwalia Mining encountered pegmatites in their diggings. North trending fault structures
splaying off the main Wiluna-Norsman structure will be prospected for lithium rich pegmatites in
a first-pass program.
E63/2110 (Kumarl) Tenement
This tenement, under application, is comprised of 10 blocks located 250 kms south of Kalgoorlie
and 90 kms north of the port city of Esperance, about 700 kms east of Perth, along the Coolgardie-
Esperance. The project is at the southern end of Wiluna-Norsman fault zone, along the periphery
of the Yilgarn craton granites. Regionally, lithium mineralization is found in small scale pegmatite
swarms along north- south trending fault s, including the Buldania and Mt. Dean lithium
occurrences. On this tenement, previously mapped splays off the main north-south fault zone will
be prospected for lithium-bearing pegmatites.
306 - 1688 152nd Street
Surrey, British Columbia
Canada, V4A 4N2
Telephone: 604-560-9060
Facsimile: 604-560-9062
Email: [email protected]
E77/2817 (Moorine) Tenement
This tenement, under application, is comprised of 8 blocks located 400 kms east of Perth and 20
kms south of Southern Cross , near the Great Eastern highway. The project is located within the
Yilgarn craton granites, centred on a northwest trending fault structure similar to the Mt. Holland
lithium project and on strike with the Mt. Hollenton pegmatite. At the south end of this district is
Galaxy Resource’s Mt. Cattlin lithium deposit.
Summary of Terms:
• Majestic has the right to carry out a technical review and preliminary exploration work on
the tenements during a period of six months;
• provided that the Company expends a total of A$100,000 within the six -month period, it
shall have the right to acquire a 65% interest in the tenements by entering into a joint
venture with Western Explorers . To earn its interest, the Company must contribute
A$1,000,000 over a period of two years for exploration and maintenance of the tenements;
• After Majestic has earned 65% interest in the joint venture, both parties shall contribute in
cash for further exploration and exploitation in proportion to its ownership interest. If a
Party does not contribute, then the other Party may subscribe for and contribute, in which
case the ownership interest of the non-contributing Party may be diluted.
Stephen Kenwood, P. Geo., a Director of Majestic, is the Qualified Person within the context of
National Instrument 43-101 and has read and approved this news release.
About Majestic Gold
Currently focused mainly in China, Majestic Gold Corp. is a British Columbia based company
engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong
Province, China. Additional information on the Company and its projects is available at
www.sedar.com and on the Company’s website at www.majesticgold.com.
For further information, please contact:
Stephen Kenwood, P.Geo., President and CEO
Telephone: (604) 560-9060
Email: [email protected]
Website: www.majesticgold.com
Cautionary Notes
Certain statements contained herein may constitute forward‐looking statements and are made pursuant
to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and
Canadian securities laws. Forward‐looking statements are statements which relate to future events. Such
statements include estimates, forecasts and statements as to management's expectations with respect to,
among other things, business and financial prospects, financial multiples and accretion estimates, future
trends, plans, strategies, objectives and expectations, including with respect to producti on, exploration
drilling, reserves and resources, exploitation activities and events or future operations. Information
inferred from the interpretation of drilling results and information concerning mineral resource estimates
may also be deemed to be forward ‐looking statements, as it constitutes a prediction of what might be
found to be present when, and if, a project is actually developed.
In some cases, you can identify forward‐looking statements by terminology such as "may", "should",
"expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the
negative of these terms or other comparable terminology. These statements are only predictions and
involve known and unknown risks, uncertainties and ot her factors that may cause our or our industry's
actual results, level of activity, performance or achievements to be materially different from any future
results, levels of activity, performance, or achievements expressed or implied by these forward‐looki ng
statements.
While these forward‐looking statements, and any assumptions upon which they are based, are made in
good faith and reflect our current judgment regarding the direction of our business, actual results will
almost always vary, sometimes materi ally, from any estimates, predictions, projections, assumptions or
other future performance suggestions herein. Except as required by applicable law, Majestic Gold does not
intend to update any forward‐looking statements to conform these statements to actual results.