Rackla Metals Exercises Option Agreements on the HIT, SER and Astro properties in Yukon and NWT
Rackla Metals Exercises Option Agreements on the HIT, SER and Astro properties
in Yukon and NWT
Vancouver, British Columbia – October 17, 2023 – Rackla Metals Inc. (TSX -V: RAK) (“Rackla” or the
“Company”) is pleased to announce that it has exercised three previously announced exploration option
transactions on the HIT and SER properties in Yukon, and the Astro property in Northwest Territories. The
three properties (see Figure 1) are within the Company’s Astro Intrusive Complex and are being explored
for Reduced Intrusion-Related Gold System (RIRGS) mineralization.
HIT Property Option Agreement
The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the HIT
property from Aben Resources Ltd. (TSXV-ABN). Pursuant to the HIT Option Agreement dated September
28, 2022, Rackla has completed the following:
I. paid CAD$25,000 cash to Aben upon signing of the agreement,
II. within 12 months of signing:
• paid an additional CAD$25,000 cash to Aben,
• issued 250,000 common shares of Rackla to Aben, and
• incurred in excess of the minimum requirement of $100,000 in exploration expenditures
on the HIT property.
The shares issued to Aben are subject to a resale restriction which expires on February 17, 2024.
SER Property Option Agreement
The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the SER
property from Sabre Gold Mines Corp. (TSX -SGLD). Pursuant to the SER Option Agreement dated
September 29, 2022, Rackla has completed the following:
I. paid CAD$50,000 cash to Sabre upon signing of the agreement,
II. within 12 months of signing, paid an additional CAD$300,000 final payment in a combination of
655,021 common shares of Rackla and $150,000 cash to Sabre.
The shares issued to Sabre are subject to a resale restriction which expires on February 17, 2024.
Astro Property Option Agreement
The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the
Astro property from Orogen Royalties Inc. (TSXV -OGN). Pursuant to the Ast ro Option Agreement dated
September 1, 2022, Rackla has completed the following:
I. issued to Orogen 120,000 common shares of Rackla upon signing of the agreement,
II. within 12 months of signing:
• paid an additional CAD$382,000 final payment by the issuance of 1,705,357 common
shares of Rackla to Orogen,
Suite 650 – 200 Burrard Street
Vancouver BC Canada V6C 3L6
www.racklametals.com
T 604.801.5432
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TF 1.888.627.9378
RAK:TSX.V
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• incurred in excess of the minimum requirement of $250,000 in exploration expenditures
on the Astro property, and
• made arrangements to extinguish the CAD$40,000 security bond put in place by Orogen
with the NWT mining authority.
The shares issued to Orogen are subject to a resale restriction which expires on January 29, 2024.
The Company is excited to have exercised these three agreements and looks forward to furthering
exploration within the Astro Intrusive Complex and follow -up on the significant results obtained so far
from the 2023 exploration program.
Figure 1. Region of Rackla Metals’ Astro, HIT and SER properties along the Yukon and Northwest
Territories.
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association
of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as
defined by National Instrument 43 -101. Mr. Casselman has reviewed and approved the technical
information contained in this news release.
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About Rackla
Rackla Metals Inc. (TSX -V: RAK) is a Vancouver, Canada based junior gold exploration company. The
Company is targeting RIRGS (Reduced Intrusion-Related Gold System) mineralization on the southeastern
part of the Tombstone Gold B elt in eastern Yukon and western Northwest Territories. Management
believes that this area, which is underexplored for R IRGS deposit types, has the potential to be the next
frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: [email protected]
Website: www.racklametals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
Certain statements contained in this news release constitute forward -looking statements within the me aning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and include, without limitation, statements about the Company’s proposed exploration
activities. Often, but not always, these forward looking statements can be identified by the use of words such as
“estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”,
“has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”,
“periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including
negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward -looking statements. Such uncerta inties and factors
include, among others, changes in general economic conditions and financial markets; the Company or any joint
venture partner not having the financial ability to meet its exploration and development goals; risks associated with
the results of exploration and development activities, estimation of mineral resources and the geology, grade and
continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in
the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on
SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those des cribed in forward-looking statements, there may
be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the Company’s stated goals and planned exploration activities at its
properties will be achieved; that there will be no material adverse change affecting the Company or its properties;
and such other assumptions as set out herein. Forward -looking statements are made as of the date hereof and the
Company disclaims any obligation to update any forward -looking statements, whether as a result of new
information, future events or results or otherwise , except as required by law. 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, investors should not place undue reliance on forward -looking
statements.