Prosper Gold Continues Golden Sidewalk Option – Red Lake, ON
January 27, 2021 TSXV: PGX
NEWS RELEASE
Prosper Gold Continues Golden Sidewalk Option – Red Lake, ON
Vancouver, British Columbia – January 27, 20 21 – Prosper Gold Corp. (" Prosper Gold " or the
"Company") (TSXV:PGX) is pleased to announce that it has fulfilled the 6-month anniversary obligations
of the previously announced option agreement for the Golden Sidewalk and Skinner Gold properties (the
“Property”) (See the company’s August 10th, 2020 news release).
The Company has issued 50,000 Prosper Gold common shares to Sabina Gold and Silver Corp. (“Sabina”)
(TSX:SBB) and incurred over $150,000 in exploration to date on the Property. Prosper Gold intends to
fulfill additional obligations as described below with the objective of owning a 100% interest in the
Property.
“In our first 6 months with this project our team has completed surface rock & channel sampling, regional
and infill till surveys and a high -resolution helicopter MAG/EM survey. We have identified a nu mber of
target areas and the Golden Corridor has become an exciting exploration target on its own with the recently
outlined pristine gold grain -in-till anomaly.” commented Peter Bernier, CEO. “ We look forward to drill
testing and expanding the Golden Corridor to the east toward E-12 as well as following up on other areas
identified by our team. We are fully funded for the 2021 exploration season and will announce our
exploration plans in the coming weeks.”
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Figure 1. Map showing Sabina Option Property relative to Golden Sidewalk Project.
Golden Sidewalk- Skinner Option w/ Sabina Gold & Silver
Date Cash PGX Shares Exploration % Acquired Status
TSXV Approval $20,000 50,000 $0 0% Complete
February 9, 2021 $0 50,000 $150,000 0% Complete
February 9, 2022 $10,000 250,000 $500,000 0%
February 9, 2023 $10,000 550,000 $750,000 70%
August 9, 2024 $10,000 600,000 $1,200,000 100%(1)
Total $50,000 1,500,000 $2,600,000 100%
Note: (1) Subject to a 2% NSR on certain claims/leases in favour of Sabina , 1% of which can be repurchased by the
Company upon payment of $1 million to Sabina.
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Table 1. Option Agreement Terms with Sabina
For a detailed overview of Prosper Gold visit www.ProsperGoldCorp.com
About the Golden Sidewalk
The Golden Sidewalk is a district -scale gold exploration project covering over 16 0 square kilometres of
contiguous mineral claims and mining leases (see the Company's Aug. 10, Sept. 8, and Sept. 15, 2020 news
releases for details) in the western Birch -Uchi Greenstone Belt, approximately 60 km east of Red Lake,
Ontario. The vehicle-accessible project straddles 12 kilometres of the Balmer Assemblage – Narrow Lake
Assemblage unconformity, a regional-scale feature that has been the Red Lake exploration guide, but which
has seen limited exploration in the project area. The recently identified “Golden Corridor” lies immediately
north of the unconformity in the western portion of the property and is characterized as a highly prospective,
greater than 5 kilometre trend of coincident favourable magnetic and resistivity linea ments supported by
highly anomalous gold-in-till samples covering 3.3 by 0.5 kilometres. Historical drilling programs at the
Bathurst Mine, Joe Vein, KT vein, Dunkin and Vihonen prospects reported high -grade gold intercepts
which warrant follow-up.
Qualified Person
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., a
Qualified Person under National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “Peter Bernier”
Peter Bernier
President & CEO
For further information, please contact:
Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: [email protected]
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward -
looking statements are statements that relate to future, not past, events. In this context, forward -looking statements often address
expected future business and financial perform ance, and often contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other
similar expressions. All statements, othe r than statements of historical fact, included herein including, without limitation,
statements about the planned exploration and prospectivity of the Golden Sidewalk project, the Company fulfilling additional
obligations and acquiring a 100% interest in t he Property; and the Company being fully funded for 2021 are forward-looking
statements. By their nature, forward -looking statements involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achieve ments, or other future events, to be materially different from any future
results, performance or achievements expressed or implied by such forward -looking statements. Such factors include, among
others, the following risks: the need for additional financi ng; operational risks associated with mineral exploration; fluctuations
in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential fo r
conflicts of interest among certain officers, directors o r promoters with certain other projects; the absence of dividends;
competition; dilution; the volatility of our common share price and volume and the additional risks identified the management
discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX
Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-
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looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable
securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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.