ML GOLD to Retain Block 103 Iron ORE Asset
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
May 17, 2017
ML GOLD TO RETAIN BLOCK 103 IRON ORE ASSET
ML Gold Corp. (TSX -V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) reports
that it will not be selling its 100% interest in the Block 103 iron ore property
(“Block 103” or the “Property”) to Accend Capital Corporation (“Accend”), a capital
pool company listed on the TSX Venture Exchange (TSXV: ADP.H) as stated in a
news release dated April 18, 2017.
The Block 103 Property compris es a series of mineral licenses, located in the
Labrador Trough, Newfoundland and Labrador, approximately 30 kilometres
northwest of the mining town of Schefferville, Quebec. Block 103 was subject to
extensive exploration and geological work by the Company from 2011 to 2013,
including 28,000 metres of drilling in 115 drill holes. The Block 103 Property has a
NI 43 -101 Inferred Iron Ore Resource of 7.2 billion tonnes at 29.2% total iron
(“TFe”) and 18.9% magnetic iron (“magFe”).
Adrian Smith, President of ML Gold stated: “Block 103 is a world class asset and
given the recent market conditions of the iron ore market, management believes it
is best kept within ML Gold until its full value can be realized by shareholders.”
Adrian Smith, P.Geo., is the qualified person for the Company as that term is
defined in National Instrument 43 -101, and has supervised the technical
information presented within this news release.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value
through discoveries and strategic development of mineral properties in Canada and
the United States.
For additional information please visit the Company’s website at
www.mlgoldcorp.com. You may also email [email protected] or c all investor
relations at (604) 669-2279.
ML GOLD CORP.
“Andrew Bowering”
Andrew Bowering
Chairman
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.
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
This news release may contain certain “Forward -Looking Statements” within the meaning of the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”,
“expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward -looking statements or information.
These forward-looking statements or information may relate to future prices of commodi ties including gold, accuracy of mineral or resource
exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third par ty information,
continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration
costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or i nformation. Such statements
represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions an d estimates
that, while considered reasonable by the Company, are inherently subject to significant bus iness, economic, competitive, political and social
risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievement s to be
materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.
The Company does not intend, and does not assume any obligation, to update these forward -looking statements or information to reflect
changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by
applicable laws, rules and regulations.