The Lady Pond Copper/Cobalt Property Now Includes Historic Sterling Mine and Twin Pond Property
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
The Lady Pond Copper/Cobalt Property Now Includes Historic Sterling Mine
and Twin Pond Property
May 9, 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 The Sterling Property consisting of 28
claims (700 hectares) contiguous to the recently announced Lady Pond Copper/Cobalt Property (see press
release dated March 1, 2017) . The Sterling Property is host to the historic Sterling mine and Twin Pond
prospect with an exploration history dating back to the late 1800’s. This potential acquisition hosts a NI
43-101 non-compliant, historic resource of 1,000,000 tonnes of 1% copper based on results from drilling
and evaluations performed during the late 1960’s on the Sterling Mine and Twin Prospect. The Lady
Pond Property currently stands at 1625 hectares in size and covers a number of historic shafts, mine
workings and areas of historical drilling.
Highlights of some of the historic work carried out on the Sterling and Twin Pond prospects include:
- The recognition of a NI 43-101 non-compliant, open ended one million tonne copper
resource
- Two mine shafts and four test pits on the historic Sterling mine;
- Over 50 historic drill holes that include numerous economic intervals with grades and
widths up to 5.50% Cu over 4.42m;
- Recent grab samples of up to 10% Cu;
- Anomalous cobalt assays;
- Untested airborne EM anomalies present.
A preliminary three dimensional geological modeling of the historic drilling results for Sterling and Twin
Pond has been performed and will prove to be a useful and highly effective tool to better understand the
Sterling and Twin Pond potential. Based on the initial re sults, significant gaps in drilling between high
grade intersections have been identified. A detailed compilation of the all historical data is currently
underway and a drill program is being planned for later this year. Previous operators focused primar ily
on the copper mineralization and it appears that cobalt analysis was never routinely performed. A more
thorough analysis of the multi element potential for the Lady Pond property will be a top priority for the
exploration programs currently being planned.
“The addition of the Sterling Property completes the consolidation of the Lady Pond and greatly enhances
the Company’s c hances of developing a resource .” Stated Jonathan Armes, President of Kapuskasing.
“We are excited to get working on the Sterling deposit as soon as compilations are complete and
conditions permit.”
The Company ha s signed a non -binding letter of intent whereby KAP can earn a 100% interest in the
Sterling Property total consideration of 1,800,000 shares, $ 25,000 in cash payment s and a work
commitment of $250,000 over four years . The Vendor shall retain a 3% net smelter royalty (NSR)
interest. The Company retains the option to buy back 2% of the NSR for $ 2,000,000. A formal option
agreement will follow upon completion of due diligence.
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
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 Ven ture 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 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 risk s, 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.