Confederation Minerals Acquires the Bull and PCM Projects in Arizona
CONFEDERATION MINERALS LTD.
Suite 1980, 1075 West Georgia Street,
Vancouver, British Columbia, V6E 3C9
Tel: 604 688 9588; Fax: 778 329 9361
July 5, 2017 TSX-V Symbol: CFM
Confederation Minerals Acquires the Bull and PCM Projects in Arizona
Vancouver, British Columbia, Canada, Confederation Minerals Ltd. (TSX-V: CFM) (“ Confederation” or the
“Company”) has signed binding letters of intent (“LOI’s”) to add two additional exploration projects to their
expanding portfolio of high quality assets. The Bull and PCM Projects are both located near the Arizona-
California-Nevada border in Mojave Co., Arizona, approximately 20 to 40 km west of Kingman, Arizona. The
LOI’s call for an initial 30 day due diligence period followe d by cash and share payments, escalating annually as
described below.
The Bull Prospect consists of 6 existing unpatented claims and 86 recently staked unpatented claims, all on
Bureau of Land Management (BLM) land. The Bull clai ms cover an area of silicified breccia and quartz-calcite
stockwork zones at the low angle contact between Pre-Ca mbrian Granite and Tertiary volcanic rocks, a classic
detachment environment. Surface sampling at Bull has retu rned grades of up to 3.54 g/t Au and drill results up to
18.2 m of 1.71 g/t Au, (complete results report below).
The PCM Project is located about 45 miles to the east-northeast of Bull with 21 unpatented claims that lie on
strike to the north-northwest of the historic Hackberry Mine, a high grade, underground silver mine. Chip and
grab sampling of outcropping veins and sm all prospect pits returned results of up to 12.53 g/t Au and 933 g/t Ag,
(complete results report below).
Carl Hering, President and CEO of CFM said “The minima l drilling that has been completed to date at Bull has
returned consistent grades and widths and is open to expansion. Limited surface sampling rarely returns values
this impressive in an unexplored terrain such as at PCM.”
The Bull claims cover areas of silicified breccia with quart z-calcite stockwork zones at the low angle contact of
Pre-Cambrian Granite and Tertiary volcanic rocks, a cl assic detachment environment. Surface rock chip sampling
by the owner and check sampling by a geologist returned strong gold values from two areas on the Property, the
Bull North, in the northern portion of the Property and the Roadside area, which lies near the southern end of the
large claim block. Both areas have seen limited drilling in the 1980’s, but no recent work has been recorded. The
two areas lie approximately 2 kilometers apart and are sep arated by an area of predominately shallow alluvial
cover, and has not been explored.
Eighteen rock chip samples collected in the Bull North and Roadside areas assayed from 0.01 to 3.54 g/t Au, with
6 of the 18 samples returning values of 0.46, 0.66, 1.39, 2.01, 2.12 and 3.54 g/t Au. About a dozen historic drill
holes are scattered over a 400 metres by 400 metres area in the Bull North area. The drilled area appears wide
open to the south where the two southern most drill hol es encountered 18.2 m of 1.71 g/t Au and 12.2 m of 0.58
g/t Au. Another drill hole, located over 150 metres to th e east of the above two holes, and collared in shallow
alluvium, returned 16.7 m of 0.62 g/t Au. To the south, at the Roadside area, again about a dozen historic drill
holes were drilled in a roughly 50 metres by 100 metres targ et area. Reported intercepts from this drilling include
16.7 m @1.10 g/t Au and 18.2 m @ 1.27 g/t Au. One hole drilled in the southeastern portion of the area, within
the granitic basement rocks, returned 3 m of 3.98 g/t Au. Scans of historic results from the Bull North and
Roadside project have been sourced from Arizona Geologi cal Society Mining Data - on line data base. Data
includes previous operators drill logs, assay certificates and various maps.
The second block of claims covers the PCM Project and is located about 45 miles to the east-northeast of the Bull
Project. CFM has the Option to Purchase 100% of a total of 21 unpatented claims that lie on strike to the north-
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northwest of the historic Hackberry Mine, a high grade, underground silver mine. The Hackberry Mine produced
from quartz veins in granitic gneiss, ty pically 1.2 to 1.5m wide. Early production was from oxidized, near surface
enriched ore that averaged 200 oz/ton Ag, and produc tion in the late 1880’s totaled US$ 3,000,000 in 1884
dollars. Later production averaged 150 to 180 opt Ag during the early to mid 1900’s (total recorded production of
$4,000,000 in 1917 dollars). At the 600 foot level of the principle decline, the main vein breccia zone of the
Hackberry lode was 5 to 21 m wide assaying from 25 to 100 oz/ton Ag. (source: “HACKBERRY SILVER
PROPERTY MOHAVE COUNTY, ARIZONA, USA NI 43-101 TECHNICAL REPORT, March 28, 2017)
Surface rock chip and grab sampling 4 to 6 km north, al ong strike of the Hackberry vein system, on the PCM
claims, returned excellent high grade results along this unt ested portion of the vein zone. Samples consisted of
outcropping vein or were selected from small dumps. 16 samples returned values ranging from 0.01 to 12.53 g/t
Au and 0.15 to 933 g/t Ag. 8 of the 16 samples ran > 2 g/t Au and 10 of the 16 ran > 90 g/t Ag. 7 of the higher Ag
samples ran from 369 g/t Ag (10.8 oz/t) to 933 g/t (27.2 oz/t). This sampling was not comprehensive in nature but
gives the tenor of mineralization found on the project. (source: current project vendor)
The two LOI’s give CFM the right to purchase 100% of th e two projects, subject to a retained 2% NSR, which
can be bought down during the first year of commercial production for US$ 1M per 1% NSR. The initial cash
and share payments for the Bull Project calls for US$ 10 ,000 and the issuance of 15 0,000 CFM shares, with the
total payments over 4 years being US$ 1.5M and 750,000 shares. The PCM Project has similar terms, following a
30 day due diligence period, with initial payments be ing US$ 15,000 cash and 50,000 CFM shares, and total
payments over 4 years to purchase 100% of the claims tota ls US$ 1.5M and 200,000 shares. The PCM Project is
subject to a separate Finder’s Fee agreement (the “ FF Agreement”) which would pay the Finder 100,000 CFM
shares initially and 100,000 shares 12 months after the initial share issuance, subject to Exchange approval.
Drill results and grab samples reported here are historic in nature and have not been verified by the Company.
Michael Collins, P.Geo. and V.P. Exploration and Deve lopment for Confederation Minerals has reviewed and
approved this news release.
On behalf of the Board of Directors,
Confederation Minerals Ltd.
“Carl Hering”
Carl Hering
CEO, President, and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
604.688.9588
www.confederationmineralsltd.com
About CFM
Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition,
exploration and development of mineral properties. Its objective is to locate and develop economic precious and
base metals properties of merit. Confederation Minerals Ltd. owns 70% of the Newman Todd project in the Red
Lake Mining District of Northern Ontario, as well as 100% ownership in another property in the Red Lake Mining
District of Ontario.
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.