Mosaic Completes Canalask Claims Assembly
MOSAIC MINERALS
COMPLETES CANALASK CLAIMS ASSEMBLY
Vancouver, British Columbia – January 13, 2021 – Maurice Giroux, President and CEO of Mosaic
Minerals Corp. (“Mosaic” or the “ Company”) (CSE: MOC) is pleased to announce that the claims
assembly of the CANALASK multi-metallic project in Northern Quebec is complete.
The Canalask property is made up of 16 mining claims covering 770 hectares to the North West shore of
Lake Dunphy located 150 km NNW of Shefferville in SNRC 24B04. The claims are 100% owned by Mosaic
Minerals.
The Canalask Property assembl y was undertaken following an extensive compilation by Mosaic
Minerals of all available mineral showings listed in the Quebec Ministère de l’Énergie et Ressources
data base in Quebec.
The Canalask Property encloses 2 well documented multi-metallic showings namely, the Canalask and
the Lac Dunphy surface showing of copper, zinc, silver and gold.
The mineralization of the Canalask showing is described in the Ministère de l’Énergie et des Ressources
Naturelles of Québec’s archive as being of veins type at the contact of a gabbro and a mudstone unit
and consist of chalcopyrite, malachite, and minor bornite. Historically, a surface chipped channel
sample grading 8% Zn, 0.90% Cu, 62.0g/t Ag and 1.25 g/t Au over 30 metres is r eported and well
documented.
The mineralization of the Lac Dunphy showing is described as of stratiform type, oriented N195 0-2100.
It is characterized by mineralized bands of massive calcite of centimetric to decametric width. The main
horizon can be observed on as long as 45 metres over width of 0.25 up to 1.0 metre. On that structure,
a chosen grab sample reported 18.25% Cu and a drill hole reported grades of 10.45% Cu, 0.17g/t Au,
18.5 g/t Ag over 0.5 metre. In addition, the Lac Dunphy showings returne d grades of 3.63% Cu, 8.4 g /
t Ag over 1 m, (trench); 4.99% Cu, 17.6 g / t Ag
The polymetallic type mineralization is of particular interest because the mineralized showings of this
type found so far indicate that this is a regional phenomenon with the potential to host appreciable
quantities of metals. The available data suggests that the property appears to have potential for
discovery and that further investigation is warranted.
Mosaic Mineral Canalask Project Location Map
About Mosaic Minerals Corporation
Mosaic Minerals Corp. , founded in 2018 , is a Canadian mineral exploration company focused on
unlocking the potential of former Stellar AfricaGold Inc.’s Opawica Gold Project and the nearby Chrisafy
Gold Project which are located in Québec’s renowned and very prolific Chibougamau mining district,
Nord-du-Québec, within the famous Abitibi Greenstone Belt.
Mosaic is gold-focused concentrating its exploration efforts where the Company’s growth potential is
the strongest.
The technical content of this press release has been reviewed and approved by Éric Allard, an
independent consultant and a Qualified Person as defined in NI 43-101.
On Behalf of the Board
Maurice Giroux BSc
President & CEO
Contact: Maurice Giroux at 1-514-952-5709
www.mosaicminerals.ca
This release contains certain "forward -looking information" under applicable Canadian securities laws concerning the Arrangement. Forward -looking
information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases
forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate",
"projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such
forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement
will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the
control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially
from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects
and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel,
aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative
instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining ta x regimes; ability to successfully
integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical
difficulties in connection with mining or development activities; laws and regulations governing the protection of the enviro nment; employee relations;
availability and increasing costs as sociated with mining inputs and labour; the speculative nature of exploration and development; contests over title to
properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining b usiness. Risks and unknowns
inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and op erating costs of such projects,
and the future prices for the relevant minerals.
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.