Rackla Metals restructures Yukon property holdings
Rackla Metals restructures Yukon property holdings
May 15, 2018; Vancouver, BC : Rackla Metals Inc. (TSX -V: RAK) is pleased to announce it
has sold or joint ventured a majority of its Yukon projects, reducing holding costs while retaining
exposure to some of the properties through an NSR. A summary of the recent transactions is as
follows:
• 346 Sixty Mile Claims and 320 Scarlet West Claims lapsed.
• Agreement with a n arm’s length individual to sell 81 of the Sixty Mile Claims, for a
potential 25% share of any future payments received on the claims over the next 5 years.
• Agreement with arm’s length Strategic Metals to sell 230 Scarlet East Claims and 49 Hat
Claims for $50,000 plus a retained 1% NSR.
• Agreement with an arm’s length individual to sell the remaining 63 Sixty Mile Claims, in
return for acquiring 100 Rivier Claims (these claims were previously subject to an option
agreement which was terminated last October). The Rivier Claims are subject to a 2%
NSR and annual advance royalty payments of $10,000 commencing in April 2020.
As a result of the above transactions, Rackla’s Yukon holdings consist of the consolidated Rivier
Project (116 c laims) targeting lode gold mineralization of the Motherlode type. Geochemical
results from soil sample programs identified three zones of anomalous gold values adjacent to a
structurally controlled ultramafic body indicating the potential for significant gold
mineralization. Each of the three zones includes at least one soil sample that contained over 2
grams per tonne gold.
Qualified Person
Bruce Smith, M.Sc., M.Eng., a member of the Australian Institute of Geoscientists, is the
Company’s Qualified Person under the terms of National Instrument 43-101, “Standards of
Disclosure for Mineral Projects”, and has approved the disclosure of the technical information in
this news release.
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About Rackla
Rackla Metals is actively investigating new prospective projects for acquisition and will continue
to seek joint venture partners for its Rivier Project.
ON BEHALF OF THE BOARD
Bruce Smith,
President and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: [email protected]
Website: www.racklametals.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward- looking statements within the meaning 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 plans for its properties
and possible future property acquisitions . 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 resul ts, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward- looking statements. Such uncertainties and factors
include, among others, whether the Company’s plans for its properties and possible future property acquisitions will
proceed as anticipated; 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 import ant 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 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: expectations that the Company’s plans for its properties and possible
future property acquisitions will proceed as anticipated; that the Company’s stated goals and planned exploration
and development activities 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.