Renforth Drills Through 2,000m Target at Parbec Gold Deposit and Closes $3,240,000 Raise at $0.135/share
October 7, 2020 For Immediate Release CSE: RFR
Renforth Drills Through 2,000m Target at Parbec Gold Deposit and Closes $3,240,000 Raise at
$0.135/share
Renforth Resources Inc. (CSE – RFR) (OTC US– RFHRF) (WKN - A2H9TN) (“Renforth” or the “Company”) is pleased
to inform shareholders that the ongoing fully funded drill program at Renforth’s wholly owned Parbec gold
deposit has now drilled more than 2160m, in five drill holes, designed to infill and expand the May 2020 NI 43-
101 open pit constrained gold resource at Parbec, located on the Cadillac Break, in Malartic, Quebec, contiguous
to the Canadian Malartic Mine property, specifically the former East Amphi Mine which forms the NW corner of
that property.
Since the last Parbec drill update press release which provided shareholders an update on drill holesPAR-20-100,
PAR-20-101 and PAR-20-103, issued on September 22, 2020, Renforth has completed the following drill holes;
PAR-20-103: This hole was drilled from the collar location of PAR -11-04 for a total of 276m due north, drilled
north in order to investigate the presence of cross-cutting structures and reach the volcanics on the north side of
the Break. This hole successfully intersected the gold bearing lithologies typically seen in the Break at Parbec,
including diorites, sheared diorite, the magnetic diorite and felsites. Sampl es have been selected by the
geologists, these will be split and sent for assay, with results released once available.
PAR-20-104: This hole was drilled perpendicular to the Break, for a total of 600m, making it currently the longest
hole drilled by Renfo rth at Parbec. This hole ended at a vertical depth of approximately 535 meters in the
volcanics on the north side of the Break, intersecting the anticipated gold bearing lithologies, including magnetic
diorite. This hole was planned as an undercut of PAR-86-04 and an overcut of PAR-10-07, providing infill data and
down dip extension to the resource model. Samples have been selected by the geologists, these will be split and
delivered to the lab for assay, results will be released once available.
Renforth has commenced an even longer drill hole, PAR -20-105, planned to be drilled for approximately 900 m,
until the volcanic contact in the north is reached. This drillhole is targeting undercuts of PAR-10-05 gold intercepts,
as well as testing for down dip extension of mineralization.
Renforth has now closed the previously announced private placement of 24 million shares of Renforth, issued on
a flow through basis at a price of $0.135 cents per share for proceeds of $3,240,000. There was no warrant
attached to these shares and there were no finder’s fees or commissions paid in connection with this transaction.
As previously announced the shares are, in addition to being restricted from trading for four months , subject to
a three year escrow arrangement. Renforth holds, with the closure of this transaction, more than $8 million in
cash and securities, approximately $1,500,000 of this balance i s funding the current ~7000m drill program at
Parbec, expected to conclude by Christmas 2020.
Following is a p lan of drilling completed in the Fall 2020 program at Parbec, including the collar location of the
just commenced PAR-20-105, and an example vertical cross section for line 5250 NW which includes the trace of
the just completed PAR -20-104 drillhole, as wel l as previous drilling on that section and the outline of the May
2020 NI 43-101 Resource Estimate pit shell. Assay values in prior drilling >0.35 g/t Au (the resource cut-off grade)
is in red.
Suite 269 – 1099 Kingston Road
Pickering, ON L1V 1B5
www.renforthresources.com
Vertical Cross-Section 5250 NW Including Trace of PAR-20-104
Brian H. Newton P.Geo, a “qualified person” under NI 43-101, has reviewed and approved the technical disclosure
in this press release.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
ABOUT RENFORTH
Renforth Resources Inc. is a Toronto -based gold exploration company with five wholly owned mineralized
properties located in the Provinces of Quebec and Ontario, Canada.
In Quebec Renforth holds the Parbec Property in the Malartic gold camp, with gold present at surface and to
some depth, located on the Cadillac Break , contiguous to the East Amphi portion of the Canadian Malar tic Mine
property. Parbec carries an open-pit constrained 43-101 resource with additional gold bearing structures, outside
of the Cadillac Break on the property, outside of the current resource . Renforth also holds Malartic West,
contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments,
this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau
property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. Surimeau
hosts polymetallic mineralization and represents the consoli dation of four historic properties into one property
for the first time. In addition to this Renforth has optioned the wholly owned Denain -Pershing gold bearing
property, located near Louvicourt, Quebec, to O3 Mining Inc.
In Ontario , Renforth holds the Nixon -Bartleman surface gold occurrence west of Timmins , Ontario, drilled,
channeled and sampled over 500m – this historic property also requires additional exploration to define the
extent of the mineralization.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward -looking statements and information under applicable securities laws. All
statements, other than statements of historical fact, are forward looking. Forward -looking statements are
frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and
similar words referring to future events and results. Such statements and information are based on the current
opinions and expectations of management. All forward -looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and
development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and
the availability of financing, as described in more detail in the Company’s securities filings available at
www.sedar.com. Actual events or results may differ materially from those projected in the forward -looking
statements and the reader i s cautioned against placing undue reliance thereon. Forward -looking information
speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update
these forward-looking statements except as required by applicable law.