Kapuskasing Gold To Acquire Strategic Portfolio of Copper/Cobalt and Vanadium Properties in Newfoundland & Labrador
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
Kapuskasing Gold To Acquire Strategic Portfolio of Copper/Cobalt and
Vanadium Properties in Newfoundland & Labrador
March 1, 2017 – Kapuskasing Gold Corp. (TSX-V: KAP) (the “Company” or “KAP”) announces that the
Company has signed a non-binding letter of intent to acquire (via asset purchase) a 100% interest in eight
(8) separate properties located in the province of Newfoundland and Labrador (NL). The properties are
being acquired for their battery technology metal potential – more specifically Cobalt and Vanadium.
Five of the properties are located on the island of Newfoundland and three are in Labrador. The province
has maintained its reputation as being one of the best jurisdictions for new discoveries in Canada, and for
maintaining a very friendly pro-mining environment and an excellent rebate system to explorers.
The acquisition of these 8 projects, positions the Company and its shareholders in the battery technology
metals sector. Management believes that supply and demand dynamics are suggesting shortfalls in both
cobalt and vanadium in the coming years. Several of the properties are known to host Cobalt (Co),
Copper (Cu) and or Vanadium (V) mineralization and several benefit from historic exploration including
channel sampling and diamond drilling.
The properties are termed the: Kings Court (Cu, Co) project, Lady Pond (Cu, Co, Au, Ag) project, Alexis
Co project, and the Cape Charles Co project, Hayes V project, Indian Head V project, Iron Mountain V
project, Ross Lake V project.
Some historic exploration highlights (from Mineral Deposit Database System Report from
http://www.nr.gov.nl.ca)) of the key projects include:
Kings Court: Cu assays were realized from both channel samples and drilling. Values of up to 0.13% Co
were reported although quoted analysis for Co is limited. Significant exploration highlights of the
property include: channel samples of 19% Cu over 2.13 metres and 15.87% Cu over 2.59 metres, a drill
hole with 12.6% Cu over 1.52 metres and a chip sampling of 7.75% Cu over 2 metres. The property hosts
at least 8 different Cu showings with significant surface results. Compilation of historic data will guide a
detailed sampling program to evaluate the Co and Cu potential.
Lady Pond:
Surface grab samples up to 3.3% Cu, 0.12% Co, and 813 ppb Au. Drilling carried out by Falconbridge in
1969 had results of up to 6.35% Cu and up to 0.2 % Co. This project will also undergo a more systematic
sampling and testing program for Co.
Alexis Co Project: Little work done, but grab samples of up to 0.422% Ni, and 0.822% Co are reported.
Cape Charles Co Project: Little work done. Grab samples up to 1.12% Cu, 0.47% Ni, and 0.526% Co
are reported.
Hayes Vanadium Project: This project consists of 3 non-contiguous claims covering the Bishop No 3
property, the Hudson Prospect, and the Hayes Prospect. The Hayes Prospect hosts a historical (non 43-
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
101 compliant) deposit reported to contain 27,000 tonnes of 54% Iron (Fe) 9% Titanium (Ti), and 0.2%
V.
Indian Head Vanadium Project: Includes the dormant Indian Head Mine and Skindles Mine. The
Indian Head Mine was reported to contain a mineralized zone of 20% Fe, 0.5% Ti and 1% V (Not
verified).
Iron Mountain Vanadium Project: Little work completed, however, selected grab samples carried up to
39.8% Fe, and 0.26% V.
Ross Lake Vanadium Project: Historic drill holes RL-1 and RL-2 intersected massive to disseminated
titanium-rich oxides hosted in coarse-grained anorthosite, with significant values in chromium (Cr) and
V. The oxide mineralization is massive and coarse grained with results including 13 meters averaging
21.49% TiO2, 0.24%V and 0.16% Cr2O3. A second hole drilled 150 meters to the northeast, intersected
11 meters of massive oxides grading 15.90% TiO2, 0.20%V and 0.13% Cr2O3. (Reference -1997: Report
of exploration activities for 1996, Harp Lake area, Labrador, Province of Newfoundland, Canada.
Tanqueray Resources Ltd. [GSB# LAB/1340])
The Company has signed a non-binding letter of intent whereby KAP can purchase a 100% interest in all
of the properties for total consideration of 7,500,000 shares, and a $5,000 one time cash payment. The
Vendors shall retain a 3% net smelter royalty (NSR) interest, or where applicable, a 3% Net Profit
Royalty (NPR). The Company retains the option to buy back 2% of the NSR (or NPR) for $1,000,000. A
formal option agreement will follow upon completion of due diligence. Due diligence is expected to be
completed by the end of March, 2017.
“These are key strategic mineral properties in one of the best mining and exploration jurisdictions in
North America” stated KAP president and CEO Jonathan Armes. “Cobalt and Vanadium are minerals
sought after now, and may be key minerals for future years. KAP is well positioned for future growth in
this sector.”
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.
On behalf of the Board of Directors
Kapuskasing Gold Corp.
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.
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
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 cur rent
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 ar e
cautioned not to place undue reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer 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.