Gitennes Provides Updates on its JMW and Maxwell Properties, Chapais-Chibougamau Area, Quebec
Suite 410 –325 Howe Street, B.C. V6C 1Z7 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
Gitennes Provides Updates on its JMW and Maxwell Properties, Chapais-Chibougamau
Area, Quebec
Vancouver, B.C., - February 9, 2023: Gitennes Exploration Inc. ("Gitennes" or the "Company") -
(TSXV – GIT) provides an update on its JMW and Maxwell properties, Chapais-Chibougamau
Area, Quebec. The two properties were optioned to Newfoundland Discovery Corp. (CSE -
NEWD) in late 2022 and Newfoundland Discovery completed a five-hole diamond drill programme
on JMW and a 1,000-line kilometre airborne magnetometer (“MAG”) geophysical survey on
Maxwell.
Gitennes and Newfoundland Discovery have now received all of the MAG data and will begin
processing the data to determine the next phase of work on Maxwell. Diamond drill core from all
five holes from the JMW drilling has been sampled and the samples have been received by the
assay lab. Results from the assaying are expected in late February or early March.
Gitennes also announces that its stock option plan, presented at the Company’s latest annual
meeting, was approved by its shareholders.
The Company is granting 200,000 incentive stock options to consultants. Each option is
exercisable at $0.05 per share and has a term of two years. This grant of options remains subject
to acceptance by the TSX Venture Exchange.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on high
grade or large tonnage gold deposits. The Company currently has five gold properties in Quebec,
JMW, New Mosher, Maxwell, VG Boulder and Serpenphior, the Snowbird gold property in British
Columbia and a 1.5% Net Smelter Return royalty on the 18 million ounce Urumalqui Silver Project
in Peru. Gitennes owns 100% of its Quebec gold properties except for New Mosher which is
under option for Gitennes to earn an initial 70% with the right to increase its ownership to 85%.
JMW, Maxwell and Snowbird have been optioned to gold exploration companies.
For further information on the Company, readers are referred to the Company’s website at
www.gitennes.com and its Canadian regulatory filings on SEDAR at www.sedar.com.
Gitennes Exploration Inc.
“Ken Booth”
Ken Booth
President
For further information, please contact: Ken Booth
Phone: 604-682-7970
Email: [email protected]
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.
Not for distribution to United States newswire services or for release, publication, distribution or dissemination
directly, or indirectly, in whole or in part, in or into the United States.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of
applicable Canadian securities laws concerning the business, operations and financial performance and condition of
the Company. All statements in this news release that are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations and orientations regarding the future. Often, but not
always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should",
"budget", "schedules", estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words
including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would,
might or will occur or be taken or achieved. Such forward-looking statements include, among others, statements as to
the anticipated business plans and timing of future activities of the Company, including the exercise of the Option to
acquire the New Mosher and Snowbird Projects and to conduct exploration activities thereon. Actual results could
differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties
relating to exploration and development and actual results of exploration activities; the ability of the Company to obtain
additional financing; delays in obtaining governmental and regulatory approvals (including of the TSX-V), permits or
financing; the need to comply with environmental and governmental regulations; potential defects in title to the
Company's properties; fluctuations in the prices of commodities and precious metals; operating hazards and risks;
environmental issues and liabilities; and competition and other risks and uncertainties of the mining industry. Although
the Company believes that the beliefs, plans, expectations and intentions contained in this news release are
reasonable, there can be no assurance that those beliefs, plans, expectations or intentions will prove to be accurate.
Readers should consider all of the information set forth herein and should review the Company’s periodic reports filed
from time-to-time with Canadian securities regulators. These reports and the Company's filings are available at
www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements
contained in this news release are made as of the date of this news release and, except as otherwise required by law,
the Company undertakes no obligation to update the forward-looking statements contained herein, or to update the
reasons why actual results could differ from those projected in these forward-looking statements.