Stuhini Renews Option on Que Project
Stuhini Renews Option on Que Project
VANCOUVER, BC
,
March 31, 2023
/CNW/ - Stuhini Exploration Ltd. ("
Stuhini
" or the "
Company
")
(TSXV: STU) (OTCPK: STXPF) announces that the Company has renewed its option on the Que
Project. The Option Agreement was first announced on
February 21, 2020
and amended and
restated on
October 26, 2020
whereby Stuhini can acquire a 100% interest in the road accessible
Que Property (the "
Property
"), located in the
Yukon, Canada
approximately 70 kilometres from
Johnson's Crossing (the "
Option
").
The agreement as amended provides for the payment of a total of 112,500
Shares of the Company to Optionors, as defined in the Option Agreement, on the Third Anniversary
Date of the approval of the Option by the TSX-V. These shares are the only committed payment
over the next 12 months. There are no work commitments. The balance of the share issuances and
the cash payments are all at the Company's election should it wish to maintain the Option after
April
2, 2024
.
Dave O'Brien, Company President and CEO commented: "Given the notable molybdenum price
uptick over the past 4 months, we are presently focused on the advancement of our Ruby Creek
Molybdenum deposit, but we remain encouraged by the prospectivity of the Que Project and believe
this is a notable asset within the Companies Project portfolio."
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious
and base metals properties in western
Canada
and south-western
USA
. The Company's portfolio of
exploration properties includes: its flagship, the Ruby Creek Property located approximately 14 km
east of
Atlin, BC
; the Que Project located approximately 70 km north of Johnson's Crossing in the
Yukon
; the South Thompson Project located approximately 35 km northwest of
Grand Rapids,
Manitoba
; the Big Ledge Property located approximately 57 km south of
Revelstoke, British
Columbia
; and its portfolio of properties in south-east
Arizona
.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities
legislation. Such forward-looking statements concern the maintenance and continuation of the Que
Property Option Agreement, the Company's strategic plans and timing and expectations for the
Company's exploration and drilling programs. Such forward-looking statements or information are
based on a number of assumptions, which may prove to be incorrect. Assumptions have been
made regarding, among other things: conditions in general economic and financial markets;
accuracy of assay results; geological interpretations from sampling results, timing and amount of
capital expenditures; and future exploration costs. The actual results could differ materially from
those anticipated in these forward-looking statements as a result of the risk factors including: the
timing and content of work programs; results of exploration activities and development of mineral
properties; the interpretation and uncertainties of sampling results and other geological data;
receipt, maintenance and security of permits and mineral property titles; environmental and other
regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds
and general market and industry conditions. Forward-looking statements are based on the
expectations and opinions of the Company's management on the date the statements are made.
The assumptions used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of the date the
statements were made. The Company undertakes no obligation to update or revise any forward-
looking statements included in this news release if these beliefs, estimates and opinions or other
circumstances should change, except as otherwise required by applicable law.
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.
SOURCE
Stuhini Exploration Ltd.
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For further information:
David O'Brien, President & Chief Executive Officer Stuhini Exploration
Ltd., Email: [email protected] Phone: (604) 835-4019, Web: www.stuhini.com
CO: Stuhini Exploration Ltd.
CNW 18:26e 31-MAR-23