Mosaic Minerals Closes Strategic Acquisition in Northern Quebec, Chibougamau Area
MOSAIC MINERALS CLOSES
STRATEGIC ACQUISITION IN NORTHERN QUEBEC, CHIBOUGAMAU AREA
Vancouver, British Columbia –February, 23, 2021 – M. Maurice Giroux, President and CEO of Mosaic
Minerals Corp. (“Mosaic” or the “Company”) (CSE: MOC) is very pleased to announce:
Closing of Chrisafy Acquisition in Northern Quebec Chibougamau Area
Further to the Company’s news release of January 6, 2021 Mosaic has closed on its strategic acquisition
of the Crisafy Gold Property in the Chibougamau area of Northern Quebec, that same region that hosts
Iamgold’s expanding Nelligan and Monster Lake gold deposits and also Northern Superior’s recent Lac
Surprise discoveries, a few kilometers to the north (see location map). All mineral titles have been
transferred, and 300,000 shares were issued the $5,000 paid to the vendor. Two additional payments of
$5,000 each will be made at three months and 12 months after the closing date. The Vendor retained a
1.5% Net Smelter Return royalty which may be purchased by Mosaic for Five Hundred Thousand
($500,000) dollars at any time. This transaction is arm’s length. The securities issued are subject to a hold
period until June 22, 2021.
Mosaic Mineral’s Chrisafy Gold Project Location Map
https://mosaicminerals.ca/?page_id=96
The Crisafy Properties acquisition expands upon Mosaic’s original Opawica Gold Project located in the
eastern extension and along strike of the significant gold discoveries at Lac Surprise and Nelligan.
Maurice Giroux CEO declare: “We are very pleased to enlarge Mosaic’s footprint in the area of Quebec’s
most prolific gold discoveries. Bei ng personally, in a certain way, the instigator of this exploration
explosion as CEO of Stellar AfricaGold Inc. , when in 2011 Stellar discovered the Monster Lake gold
deposit which was later sold to Tomagold and in turn optioned by Iamgold. Based on my history Mosaic
has a close and personal knowledge of the potential of this area , and this knowledge can only be very
beneficial to Mosaic.”
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 . “Stellar” Opawica Gold Project (“Opawica”)
which is 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. After incorporation Mosaic acquired Stellar’s Opawica project in a 100% share deal .
Mosaic then completed a Plan of Arrangement with Stellar establishing a shareholder base of more
than 1,000 new Mosaic shareholders. Since the acquisition Mosaic has actively explored Opawica
completing its Phase I exploration program at the end of 2019 with results that warrant advancing with
a Phase II program.
The Opawica Gold Project
Opawica is comprised of two claim blocks, the Philibert I and the Opawica North, both located a few
kilometers East and in the geological and structural strike of the Nelligan Iamgold/Vanstar project.
Surface sampling of the Philbert-I block showing by Laurentia Exploration during the 43-101 Technical
Report field visit confirmed Stellar’s and other historical results returning gold grades of up to 9.24 g/t
Au in some channel sampling of quartz injected structures. The gold mineralization is associated with
millimetric to metric wide quartz -tourmaline veins structure cutting through the Obatogamau rock of
Philibert-I block. These veins are observed a cross a 50-meter-long rock exposure and strike N 1100.
Quartz veins contain tourmaline and pyrite and lies within an epidote -iron carbonates alteration
envelope and most importantly, the structure is open laterally and vertically.
In December 2018, Mosaic mandated Dynamic Discovery to perform a resistivity and Induce d
Polarization (IP) coverage of the Philbert Block to increase the understanding of the geophysical
characteristics of the Philbert -I gold showing. In conclusion, the geophysical response of the gold
mineralization found within the property was better characterised, assisting with the selection of
priority exploration targets. A total of 200 individual IP anomalies, further grouped as 47 char geable
lineaments, were defined. Among them, 11 axes are considered with higher potential to relate to
mineralized occurrences and constitute high priority drilling targets.
About Mosaic’s Management
Mosaic benefits from a solid board of directors and strong executive management. Its members have
documented business histories, successful exploration backgrounds, impressive histories of mine
discoveries in Canada and Africa, and established records of corporate success.
Mosaic President and CEO Maurice Giroux when he was CEO of Stellar AfricaGold Inc. lead the team
that made the Monster Lake – Zone 325 high grade gold discovery which became the foundation project
of Tomagold Inc., and was subsequently optioned by Iamgold Corp. Later, Iamgold optioned the Nelligan
Project that was awarded “Discovery of the Year” at the Xplor Mining convention in Montreal in 2019.
Mosaic Executive VP and CFO John Cumming was Executive VP and CFO of West African gold explorer
Merrex Gold Inc. In 2008 Mr. Cumming negotiated Merrex ’s exploration Joint Venture with Iamgold
Corporation which in 2014 discovered the Diakha gold deposit in West Mali . In 2016 he led both the
Merrex negotiating team and the transaction legal team that successfully negotiated and concluded the
sale of Merrex to Iamgold Corporation in the $43 million share takeover deal. For additional information
on board of directors and management, see Mosaic’s website at www.mosaicminerals.ca
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
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carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of
the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and
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