Drill Program Underway at the Lady Pond Copper\Cobalt Property in Newfoundland
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
Drill Program Underway at the Lady Pond Copper\Cobalt Property in
Newfoundland
November 3, 2017 – Kapuskasing Gold Corp. (TSX-V: KAP) (the “Company” or “KAP”) announces that
a diamond drill program has now commenced on its 100 % owned Lady Pond Project. The Lady Pond
project is located adjacent to the town of Springdale, Newfoundland. This phase I drill program will
consist of 8 to 12 holes totaling approximately 1000 metres of drilling (NQ sized core). All necessary
permits are in place, and the drill program is expected to take approximately three weeks to complete.
All of the drill holes are currently planned to test and confirm high grade copper mineralization that
occurs within the Lady Pond Property. Specifically, the current drill program is targeting three (3) high
grade copper occurrences which have been identified on the Lady Pond property including: The Lady
Pond Prospect, The Twin Pond Prospect, and the Sterling Prospect. Drilling is also being conducted in
order to begin the process of creating a NI 43-101 compliant resource(s) for the known mineralized areas.
Site visits have been made to the property and the three historic mineralized areas were visited. High
grade copper mineralization was observed on each occurrence, with surface grab assay results returning
up to 9.04 % Cu (see press release dated October 13, 2017).
The Lady Pond Property consists of 98 claims totaling 2450 hectares in size and covers a number of
historic shafts, mine workings and areas of economic historical drilling. The Property lies immediately
adjacent to the town of Springdale and can be accessed via numerous logging roads and ATV trails
throughout the property.
Rambler Mining and Metals PLC operate a base metal mill at Baie Verte and currently own the historic
Little Deer and Whalesback copper deposits (Total Indicated 2.7 million tonnes of 2.16% Cu and Total
Inferred 4.2 million tonnes of 2.07% Cu) (Thundermin Press Release July 26, 2012). Both of these
projects are situated on contiguous claims to the west of the Lady Pond Property and may not be
indicative to mineralization on the KAP property.
The geology underlying the Lady Pond Property consists entirely of the Lush Bight group of rocks, which
is the same lithology which hosts the nearby Little Deer and Whalesback copper deposits. The Lady Pond
Property is host to several historic copper occurrences (Cyprus Type VMS deposits), the most notable of
which include the Sterling Prospect, the Twin Pond Prospect and the Lady Pond Prospect, all of which
have exploration histories dating back to the late 1800’s. The Sterling Mine hosts a NI 43-101 non-
compliant, historic resource of approximately 1,000,000 tonnes of 1% copper, and is open in all
directions. This non-compliant resource was calculated from drilling and evaluations performed during
the late 1960’s. The Sterling Mine is situated approximately 1.5 km to the southwest of the Twin Pond
Prospect where an additional 32 holes has been drilled but no calculation of any kind has been made. The
Lady Pond Prospect is located approximately 3 km to the northeast of Twin Pond.
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
The Company is treating the tonnage and grade estimates above as historical estimates. The historical
estimates do not use categories that conform to current CIM Definition Standards on Mineral Resources
and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral
Projects (“NI 43-101“) and have not been redefined to conform to current CIM Definition Standards. A
qualified person has not done sufficient work to classify the historical estimates as current mineral
resources and the Company is not treating the historical estimates as current mineral resources. More
work, including, but not limited to, drilling, will be required to confirm the estimates to current CIM
Definition Standards. Investors are cautioned that the historical estimates do not mean or imply that
economic deposits exist on the Property. Other than as provided for in this press release, the Company has
not undertaken any independent investigation of the historical estimates or other information contained in
this press release nor has it independently analyzed the results of the previous exploration work in order
to verify the accuracy of the information. The Company believes that the historical estimates and other
information contained in this press release are relevant to continuing exploration on the Property because
they identify significant mineralization that will be the target of the Company’s exploration programs.
There are over 50 historic drill holes on the Lady Pond Property, the most notable intersections include:
Sterling Prospect
4.42m – 5.50% Cu from 38.10 to 42.52m
6.10m – 2.32% Cu from 106.68 to 112.78m
4.57m – 1.45% Cu from 50.29 to 54.86m
Twin Pond Prospect
3.35m – 4.20% Cu from 82.30 -85.65m
3.05m – 2.16% Cu from 33.53 to 36.58m
3.05m – 3.20% Cu from 70.14 -72.54m
Lady Pond Prospect
8.10m - 2.61% Cu
Mr. Garry Clark P.Geo,(Exploration Manager and a director of the Company) a Qualified Person ("QP")
as defined by National Instrument 43-101, has reviewed the technical content of this release. The content
of the geological data presented has been derived from the Provinces Mineral Deposit Database and
exploration assessment files and are believed to be accurate and correct.
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
On behalf of the Board of Directors
Jonathan Armes
President & CEO
Phone 1 (416) 708-0243
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 press release.
This press release contains forward -looking statements within the meaning of applicable Canadian and U.S. securities laws and
regulations, including statements regarding the future activities of the Company. Forward looking statements reflect the current
beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”,
“plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in
forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion
and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are
cautioned not to place undue reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offe r to buy the securities in any jurisdiction. The
common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or
sold in the United States absent registration or applicable exemption from the registration requirements.