GOLD, Zinc, Copper, Lead, Silver Potential and NEXT Steps FOR PJX Resource’S
(TSX VENTURE: PJX.V)
GOLD, ZINC, COPPER, LEAD, SILVER POTENTIAL AND NEXT STEPS FOR PJX RESOURCE’S
Toronto, Ontario – December 30, 2019 – PJX Resources Inc. (“PJX” or “the Company”) is pleased to
announce it has received TSX Ventu re Exchange approval of the completed non-brokered private
placement initially announced by the Company on October 15, 2019 (the “Offering”) for total
proceeds of $1,409,200.
“We have greatly advanced the potential to discover a deposit on our base metal (zinc, copper,
lead, silver) and gold properties during 2019,” states John Keating. We would like to thank our
shareholders, consultants and commu nities where we work for helping to allow us to achieve the
successes we’ve made. We look forward to a rewarding 2020 as we advance our project s with the
potential to make a new discovery.”
Next Steps
Gold
• Gold results from drilling the high -grade David gold zone on PJX’s Gold Shear Property will
be announced in Jan uary. Seven of twelve grab samples taken f rom the David Gold Zone
trenches at surface by PJX returned gold grades over 68 grams/tonne (g/t) with the highest
being 193.9 g/t gold.
• Exploration results from prospecting, mapping and sampling for gold on the Eddy Property
are being compiled and will be announced over the coming months.
Base Metal (zinc, copper, lead, silver)
• Drilling is planned to commence by mid -January, 2020, to expand the New Ma ssive
Sulphide (NMS) Zone intersected by drilling this year on the Vine Property. The NMS zone is
similar in style of mineralization to the former producing wor ld class Sullivan (zinc -lead-
silver) Mine located 35 km north of the Vine Property.
• Exploration results from prospecting, mapping and sampling for copper on the Parker
Copper Property are being com piled and will be announced over the coming months.
Copper mineralization occurs in sediments and appears to be similar in style and alteration
to sediment-hosted copper deposits across the border in the United Sta tes, and/or the
Kamoa copper deposit in the Congo.
PJX’s 100% owned Vine, Gold Shear, Eddy and Parker Copper Properties are road-accessible close
to power, rail an d a work force near the cities of Cranbrook and Kimberley , British Columbia,
Canada.
The foregoing geological disclosure has been reviewed and approved by and John Keating P.Geo.
(qualified pers ons for the purpose of N ational Instrument 4 3-101 Standards of Disclosure for
Mineral Projects). Mr. Keating is the President, Chief Executive Officer and a Director of PJX.
Non-brokered Private Placement
The Company issued a cumulative total of 1,943,824 Flow-through Units (“Flow-Through Units”)
for g ross proceeds of $330,450, 3,333,334 Flow-through Shares for gross proceeds of $500,000
and 3,858,333 Units for gross proceeds of $578,750.
Each Flow -through Unit consists of one com mon share to be issued as a "flow -through share"
within the meaning of the Income Tax Act (Canada) (the "Flow -through Shares") and one common
share purchase warrant. Each Flow-through share consists of one common share to be issued as a
"flow-through share" within the meaning of the Income Tax Act (Canada). Each Unit consists of
one common share and one common share purc hase warrant. Each warrant, whether acquired as
part of a Flow -through Unit or U nit, entitles the holder to purc hase one common share at an
exercise price of $0.25 for 36 months following completion of the Offering. All securities issued as
part of the Pri vate Placement are subject to a statutory four month hold period expiring April 7,
2020.
The closing of the placement constituted a related party transaction within the meaning of
Multilateral Instrument 61 -101 (“MI 61- 101”) as certain insiders of the com pany subscribed for
3,333,333 Units and 50,000 Flow-Through Units. The Company i s relying on t he exemptions from
the valuation and minority shareholder approval requirements of MI 61 -101 contained in sections
5.5(a) and 5.7(1)(a) of MI 61- 101, as the fair market value of the p articipation in the offering by
insiders does not exceed 25 % of the marke t capitalization of the company, as determined in
accordance with MI 61-101.
In connection with closing the Offering, c ertain eligible persons (the “Finders”) were paid cash
commissions will pay aggregate cash finder’s f ees of $99,228 and issue certain Finders 649,733
non-transferable Finder’s Warrants . Each of the Finder’s Warrants entitles the Finder to purchase
one common share of the Company at a p rice of $0.25 per Finder Share for 36 months following
completion of the Offering.
About PJX Resources Inc.
PJX is a mineral exploration company focus ed on building shareholde r value a nd community
opportunity through the exploration an d development of min eral resources with a focus on go ld
and base metals. PJX’s properties a re located in the historical mining area of Cranbrook and
Kimberley, British Columbia . Please refer to our web site http://www.pjxresources.com for
additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
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.
Forward-Looking Information
This News Release contains f orward-looking statements. F orward looking state ments ar e s tatements which relate to future events. Forward -looking
statements include, but ar e not li mited to, statements with respect to exploration results, the success of e xploration activities, mine deve lopment
prospects, completion of ec onomic assessments, a nd future gold production. In so me cases, you can identify forwar d-looking statements by terminology
such as "may", “appears to”, "should", "ex pects", "plans", "anticipates", b elieves", "estimates", " predicts", "potential", or " continue" or the negative of
these terms or other com parable terminology. These statements ar e only predicti ons an d involv e known and unknown risks, uncertainties and othe r
factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity,
performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions, events or results not to be as antic ipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.