92 Resources Corp. Announces the Conversion from Option to Joint Venture with Far Resources Ltd. for the Hidden Lake Property
Suite 500 - 666 Burrard Street
Vancouver, BC, V6C 3P6
Tel: (778) 945 2950
www.92resources.com
Trading Symbol: TSX.V: NTY
OTCQB: RGDCF
Frankfurt: R9G2 (WKN: A11575)
92 Resources Corp. Announces the Conversion from Option to Joint Venture with Far
Resources Ltd. for the Hidden Lake Property
Vancouver, May 16, 2019 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (OTCQB: RGDCF) (FSE:
R9G2) announces that Far Resources Ltd. (“Far Resources”) has formally notified the Company of its
intention to terminate its remaining earn-in for the Hidden Lake Property, originally announced January
23rd, 2018, and will therefore maintain its 60% interest earned through satisfying the Year 1 conditions of
the Option Agreement (the “Agreement”). Therefore, the Company will maintain a 40% interest in Hidden
Lake and a Joint Venture between the companies will be formed for future exploration of the Property. In
addition, under the terms of the Agreement, Far Resources will remain as operator and is responsible for
funding the Joint Venture’s initial $1,000,000 in expenditures.
Although $500,000 in exploration expenditures were required for Year 1 of the Agreement to vest, in
addition to the cash and share based payments made to the Company, a larger total expenditure of
approximately $737,000 was incurred by Far Resources on the Property. This expenditure culminated in
a successful maiden drill program at Hidden Lake in 2018 with numerous high-grade intercepts returned,
including 1.6% Li2O over 9.2 m in drill hole HL18 -003 at the D -12 Pegmatite (see Far Resources news
release dated September 10th, 2018).
Company President & CEO Adrian Lamoureux comments: “Although we would have preferred for Far
Resources to continue through Year’s 2, 3, and 4 of the Option, the Company has received considerable
benefit from the work completed under the Year 1 terms. The Company will now retain a 40% interest in
this excellent project and is further positioned long- term for the lithium space as the market rebalances
and rebounds. The Company is also insulated from the first $1,000,000 is exploration expenditures under
the Joint Venture, in which Far Resources remains obligated to incur.”
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P. Geo., of Dahrouge Geological Consulting Ltd. and member of the Board of
Advisors to the Company, a Qualified Person as defined by National Instrument 43 -101, supervised the
preparation of the technical information in this news release.
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About 92 Resources Corp.
92 Resources Corp is a junior mineral exploration company focused on acquiring and advancing strategic
and prospective properties that position it strongly for the worlds continuing shift to high tech and green
technologies including base and precious metals, and lithium.
The Company’s primary asset s are the wholly owned Corvette Property and the FCI Property (under
Option from Osisko Mining for 75% interest) located in the James Bay Region of Quebec. The properties
are contiguous and host significant gold-copper-lithium potential highlighted by the Golden Gap Prospect
with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Tyrone-
T9 Prospect with 1.15% Cu over 2.1 m in channel sampling, and the CV1 Pegmatite Prospect with 2.28%
Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Frac Sand Property, BC,
and the Hidden Lake Lithium Property, NWT , where the Company maintains a 40% interest , as well as
several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail:
[email protected] or visit www.92resources.com.
On Behalf of the Board of Directors,
“ADRIAN LAMOUREUX”
Adrian Lamoureux, President & CEO
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 news
release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intenti ons and expectations,
which are not historical in nature are intended to be, and are hereby identified as, “forward- looking statements”.
Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that forward-looking statements, including without
limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and
uncertainties that could ca use actual results to differ materially from those indicated in the forward- looking
statements.