(TSX VENTURE: PJX.V) PJX Resources Options Historical Estella Mine Property From Imperial Metals
(TSX VENTURE: PJX.V)
PJX Resources Options Historical Estella Mine Property
From Imperial Metals
Toronto, Ontario, – July 29, 2021 – PJX Resources Inc. (“PJX”) is pleased to announce the option of the
historical Estella mine crown grants (the “Estella Property ”) from Impe rial Metals Corporation
(“Imperial”). The 14 Estella crown grants are encompassed by PJX’s large Dewdney Trail Pro perty (see
map below). The property is road accessible and located approximately 30 km northeast of Cranbrook,
British Columbia.
John Keating, President of PJX commented: “PJX’s Dewdney Trail Property and the Estella Property have
potential to host intrusive related gold and copper deposits as well as sedimentary hosted massive
silver-lead-zinc mineralization similar to the historical Kootenay King mine located a pproximately 5 km
to the south. The Estella crown grants have had no significant work or exploration since the late 1960’s.
Having access to the crown grants will allow PJX to complete mapping and geophysics across both the
Estella claims and PJX’s adjacent large land holdings this summer to define targets to drill.”
Estella Option Terms
Subject to TSX Venture Exchange approval, PJX can earn a 100% interest in the Estella Property by
making cash payments, or share equivalent pa yments, to Imperial totalling $250 ,000 over a 5 year
period as follows:
• $15,000 on signing the agreement; and
• $20,000 on or before July 26, 2022; and
• $25,000 on or before July 26, 2023; and
• $30,000 on or before July 26, 2024; and
• $35,000 on or before July 26, 2025; and
• $125,000 on or before July 26, 2026
Upon exercise of the option by PJX, Imperial will retain a Net Smelter R eturn Royalty (“NSR”) of 2% in
respect of the Estella Property. PJX will have the right to buy back 50% of the NSR [being a 1% NSR] for
$1,000,000, and the remaining 50% of the NSR [being a 1% NSR] for an additional $1,000,000.
Estella Mine Background - (Source: British Columbia Geological Survey, Bulletin 84)
• Estella Mine operated intermittently from 1951-1967.
• Total of 109,518 tonnes of ore was milled, yielding approximately 6 ,393 kg silver, 5 ,181 tonnes
lead, 9,834 tonnes zinc with minor gold and copper in concentrates.
• Estella deposit is a silver-lead-zinc vein zone that is up to 7 metre in width that cuts Proterozoic
age Aldridge sediments adjacent to a younger, Cretaceous age, intrusive called the Estella Stock.
Dewdney Trail Property map with Estella Crown Grants and road/trail access
The geological disclosure and content of this news release has been reviewed and approved by John
Keating P.Geo. (qualified person 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.
Corporate Update
The Annual General and Special Meeting of the Company was held on June 29, 2021. The Sharehold ers
of record:
- approved the December 31, 2020, Audited Financial Statements;
- set the number of directors of the Company at six and re -elected John Keating, Linda Brennan,
James Clare, Joseph Del Campo, Trygve Hoy, and Victor Bradley;
- appointed McGovern Hurley LLP as Auditors of the Company for the ensuing year; and
- approved the Company’s Share Incentive Plan.
PJX continue s to advance gold and base metal targets toward the discovery stage on our properties
through surface exploration as well as drilling.
We also continue to build strategic partnerships to advan ce assets including D LP Resource’s option of
our DD Property and an agreement w ith Osisko Gold Royalties that was finalized in early 2021, with
Osisko paying $1 milli on for a O.5% NSR royalty intere st in PJX’s 4 gold properties (Gold Shear, Eddy,
Zinger and Dewdney Trail), and purchasing an equity investment in PJX for an additional $1 million.
PJX has identified large target areas with gold , copper, zinc, lead, and silver mineralization across the
Dewdney Trail Property to date. The Estella Property option will allow PJX to advance exploration with
mapping, prospecting and airborne magnetotelluric and magnetic surveys across both properties to help
define targets to drill.
Forest fires in Britis h Columbia have not yet affected our exploration activities. We would like to thank
our experienced consulting team of geologists, prospectors , geophysicists, geochemists and drillers for
their devotion to advance our exploration targets and maintain safet y for themselves and our
communities by adhering to health and safety protocols.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity
through the exploration and development of mine ral resources with a focus on gold and b ase metals.
PJX’s gold properties (Gold Shear, Eddy, Zinger, Dewdney Trail) a nd base me tal properties (Vine, DD,
West Basin, Parker Copper) are located in the historical Sullivan mining district and Vulcan Gold Belt 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 statement s. Forward looking st atements ar e statements which relate to future events. Forward-looking statements
include, but are not limited to, sta tements with respec t to exploration results, the success of exploration activities, mine development prospects, compl etion of
economic ass essments, a nd future gold production. In some c ases, you can identify forward -looking statements by terminology such a s "may", “appears t o”,
"should", "expects", "plans", "antici pates", believes", "estimates", "predicts", "potential", or "contin ue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and u nknown risks, uncertainties and other factors that may cause our actual results, level of
activity, performance, or achievements to be mat erially different from any future results, leve ls 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 act ions, 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 stateme nts.
Accordingly, readers should not place undue reliance on forward-looking statements.