Gitennes’ Maxwell Gold Property Geophysical Survey Completed, 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’ Maxwell Gold Property Geophysical Survey Completed, Chapais-Chibougamau
Area, Quebec
Vancouver, B.C., - December 20, 2022: Gitennes Exploration Inc. ("Gitennes" or the "Company")
- (TSXV – GIT) announces that the previously announced 1,000 line kilometre airborneTriaxial
Gradient Magnetometer (“MAG”) survey has been completed on its 100% owned Maxwell gold
property (“Maxwell”) in the Chapais-Chibougamau area of Quebec (see location map below). The
MAG survey was successful in covering the entire 9,400-hectare property. Results from the MAG
survey are being compiled and upon final interpretation will be released.
Maxwell is situated between two of Iamgold Corporation’s properties with the Monster Lake high
grade gold property six km to the east (see Figure 1). Maxwell has several occurrences of gold
in both the fine and heavy fraction of glacial tills and the gold in tills is associated with mapped
structures. The structures are northeast trending, similar to Iamgold’s Nelligan property. Maxwell
has seen very little exploration and several EM geophysical anomalies remain untested.
Figure 1 – Maxwell Property
Gitennes has optioned Maxwell and its JMW property to Newfoundland Discovery Corp. and
Newfoundland Discovery can initially earn a 70% interest in each property with the right to earn
an additional 15% interest. Newfoundland Discovery is planning to spend approximately $800,000
between the two properties with diamond drilling at JMW anticipated to commence shortly.
Maxwell Property and Gitennes’ other properties in the Chapais-Chibougamau area
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on high
grade gold. The Company currently has three properties in the Chapais-Chibougamau area of
Quebec: New Mosher, JMW and Maxwell, and three properties in the Gaspe Region of Quebec:
VG Boulder, Serpenphior and Puma, 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. All properties
are 100% owned by Gitennes except for New Mosher which is under option from Kintavar
Exploration and Gitennes can earn an initial 70% and has the right to increase its ownership to
85%. The JMW, Maxwell and Snowbird Properties 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 any property
Options 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.