PJX Extends High Grade GOLD Mineralization ON GOLD Shear Property Vic Bradley Joins PJX Board of Directors
(TSX VENTURE: PJX.V)
PJX EXTENDS HIGH GRADE GOLD MINERALIZATION ON GOLD SHEAR PROPERTY
VIC BRADLEY JOINS PJX BOARD OF DIRECTORS
Toronto, Ontario – August 12, 2020 – PJX Resources Inc. (“PJX”) is pleased to announce that mapping
and prospecting have identified 4 separate parallel shear zones with gold mineralization on the Gold
Shear Property in southeastern British Co lumbia. Multiple grab samples of quartz veins from 2 of the
shear zones returned gold values up to 250 g/t . These shears are on strike with PJX’s high grade David
Gold Zone and occur over 300 m to the south. PJX plans to drill at depth and on strike of the David Gold
Zone to identify orogenic style structural dil ations with potential to host widths and gold grades similar
to Walbridge’s Tabasco Zone in Quebec.
“The increa se in number and lateral exten t of shears with the presence of high -grade gold
mineralization s uggests the pot ential for a significant gold mineralizing system on the Gold S hear
Property”, states John Keating, President & CEO of PJX.
Appointment to Board of Directors
PJX is also pleased to announce, subject to TSXV Exchange approval, the appointment of Vic Bradley to its
Board of Directors. Mr. Bradley is well respected for his more th an 50 years of experience and
knowledge in the mining industry.
John Keating says, “We are delighted to announce Vic Bradley ’s desire to join the Board of PJX
Resources. Vic founded Yamana Gold Inc. in early 1994, and served as President /CEO and then
Chairman of the Board and Lead Director until 2008. He served as Chairman of Osisko Mining Corp from
November 2006 up to its sale for $4.1 billion to Agnico Eagl e and Yamana in June, 2014. He now serves
as Chairman of Osisko Bermuda Ltd., Osisko Gold Royalties’ offshore subsidiary that controls all of its
assets outside of North America. Vic has a long -standing history and familiarity of southeastern British
Columbia and w e look forward to working with him to capitalize on PJX’s gold and silver-lead-zinc
potential in the Vulcan Gold Belt and Sullivan base metal mining camp.”
“I am delighted to join PJX Resources, in the quest for the next Sullivan min e and for the hard rock
sources of the historically prolific Cranbrook area placer gold operations”, stated Vic Bradley, Director of
PJX. “The start of my career in mi ning was with Cominco where, for 15 years, I held a variety of senior
financial positions , in Montreal and Vancouver . I have a great appreciation for how the 100 year
Sullivan Min e established one of Canada's most successful mining comp anies. A few years after
Cominco, I was Chairman of Queenstake Resources, Canada’s most successful placer gold miner, which,
among other areas, worked on Moyie Creek now wi thin one of PJX’S Cranbrook area gold properties.
PJX’s gold properties might well be the sources of those placer deposits. All of these assets are in
southeastern, B.C. where I spent the first two years of my Cominco career in Trail learning how the
company operated. All of these experiences combine to give me a feeling of great deja vue as I go back
to the roots of my career. After some 60 years in mining, it is with great fascination and enthusiasm that
I join PJX and hope to bring all of my experience to contribute to its future success”
Stock Option Grant
The Company's board of d irectors has authori zed granting stock purchase options to certain directors,
employees and consultants to acquire an aggregate of 2,792,500 common shares at an exercise price of
$0.20, expiring August 11, 2025. The foregoing is subject to regulatory acceptance.
Warrant Term Extension
The Company is also pleased to a nnounce that , subje ct to TSX Venture Exchange approval, it has
extended the exercise period of a total of 6,833,284 outstanding share purchase warrants, (collectively,
the "Warrants"). The Warrants were issued pur suant to a private pla cement announced on August 25,
2016 and accepted for filing by the TSX Venture Exchange on August 30, 2016. The Warrants are due to
expire on August 29, 20 20 and are e xercisable at $0.2 5 per share. The new e xpiration date of the
Warrants is on August 29, 2021.
The foregoing geological disclosure and content of thi s news relea se has been reviewed and approved
by John Keating P.Geo. (qualified persons for the purpose of National Instrument 43 -101 Standards of
Disclosure for Mineral Projects). Mr. Keating is the President, Chief Executive Officer and a Director of
PJX.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity
through the exploration and development of mineral resources with a focus on gold and base metals.
PJX’s properties are 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 forward-looking statements. Forward looking st atements ar e statements which relate to future events. Forward -looking statements
include, bu t ar e not limited to, statements with respect to exploration results, the success of e xploration activities, mine dev elopment pros pects, comple tion of
economic ass essments, a nd future go ld p roduction. In some cases, you can identi fy forward-looking st atements by terminology suc h as "may", “appears to”,
"should", "ex pects", "pla ns", "anticipates", believes", "est imates", "predicts", " potential", o r " continue" or the negative of these terms or other com parable
terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of
activity, performance or ach ievements to be materially different from any future results, levels of activity, perfo rmance, 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 anticipated, 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.