Prosper Gold Corp. Acquires Additional 7,400 Hectares at Golden Sidewalk – Red Lake Ontario
September 15, 2020 TSXV: PGX
NEWS RELEASE
Prosper Gold Corp. Acquires Additional 7,400 Hectares at Golden Sidewalk –
Red Lake Ontario
Vancouver, British Columbia – September 15, 20 20 – Prosper Gold Corp. (“Prosper Gold” or the
“Company”) (TSXV: PGX) is pleased to announce that it has entered into an arm’s length agreement (the
“Purchase Agreement”) to acquire a 100% interest in 372 mineral claims known as the “Claims”, adjacent
to the Golden Sidewalk & Skinner projects (the “Project”) that the Company has optioned from Sabina
Gold and Silver Corp. (“Sabina”) (see the below and the Company’s August 10th, 2020 news release).
“This acquisition increases our land position to over 16,000 hectares in Red Lake ” said Peter Bernier,
President & Chief Executive Officer. “These newly acquired claims expand both the northern and southern
boundaries of the Golden Sidewalk project. The northern portion of the acquisition covers multiple historic
showings and extends the Bathurst mine trend to the east . The southern portion of the c laims cover the
remaining Balmer assemblage in the area.”
Exploration Update
Results from the 112 sample Phase 1 till survey are expected in the coming weeks (details of till survey are
available in Company’s September 8 th, 2020 news release) . Prosper will systematically prospect areas
highlighted in the historic surveys as well as increase the 2020 till survey to cover the newly acquired
claims. The northern portion of the newly acquired ground was historically till sampled in 2003 by Fronteer
Development Group (“Fronteer”) and Prosper will expand upon the Fronteer till surv ey now that the
northern claims have been consolidated.
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Figure 1. Golden Sidewalk Project Boundary
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About the Golden Sidewalk
The Golden Sidewalk project is comprised of over 16,000 hectares of contiguous mineral claims & patents
(see the company’s August 10 th and September 8th, 2020 news releases for details) located approximately
70 kilometres northeast of the town of Red Lake, Ont. The project is accessible year -round through a
network of well-maintained logging roads.
The Golden Sidewalk project area is underlain by rocks of the Balmer Assemblage in the southern portion
of the property and the Narrow Lake Assemblage in the remaining portion of the property. The boundary
between the Balmer and Narrow Lake Assemblages is taken where few pillowed flows and interbedded
tuffaceous and sedimentary rocks (Balmer Assemblage) give way to abundant pillowed flows (Narrow
Lake Assemblage). In the Narrow Lake area, the unconformity is also marked by the presence of quartz
and feldspar xenocrystic, dacitic to rhyolitic crystal tuff, termed the Skinner porphyry.
Key Terms of Purchase Agreement
Pursuant to the Purchase Agreement, Prosper Gold will pay an aggregate of $6 0,000 and issue 12 5,000
shares of Prosper Gold to Bounty Gold Corp. for 372 mineral claims which are adjacent to the Golden
Sidewalk-Skinner claims. The claims are subject to a 2% NSR, 1% of which can be repurchased by the
Company upon payment of $1,000,000 . The Purchase Agr eement is subject to the approval of the TSX
Venture Exchange. Any securities issued under the Purchase Agreement will be subject to a hold period of
four months and a day.
Sabina Option Agreement
Further to the Company’s August 10, 2020 news release, the Company has entered into an arm’s length
option agreement with Sabina (the “Option Agreement”) in respect of the Project. The Option Agreement
on the Project calls for the Company to pay $50,000 cash, iss ue up to 1,500,000 Prosper Gold shares and
for work expenditures totaling $2,600,000 over four years in order for the Company to earn a 100% interest
in the Project , subject to a 2% NSR on the Golden Sidewalk project, which can be repurchased by the
Company upon payment of $1,000,000 to Sabina.
Qualified Person
The scientific and technical information in this news release has been reviewed by Dr. Dirk Tempelman -
Kluit, PhD, P.Geo., a Qualified Person under National Instrument 43-101.
For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com
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]
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Information set forth in this news release may involve forward -looking statements under applicable securities laws. Forward -
looking statements are statements that relate to fu ture, not past, events. In this context, forward -looking statements often address
expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimat e",
"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, other than statements of historical fact, included herein including, without limitation;
statements about the terms of the Purchase Agreement and Option Agreement, exploration potential of the Project and the planned
exploration of the Project 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 achievements, 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 other s, the following risks: the need for additional financing; the Company’s ability to
satisfy conditions precedent under the Option Agreement; operational risks associated with mineral exploration; fluctuations in
commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts
of interest among certain officers, directors or 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-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.