Renforth Raises $1,376,260 To Fund Continued 2022 Exploration Of Battery Metals At Victoria West Within The Surimeau District Property And On The Parbec Gold Deposit
December 21, 2021 CSE: RFR
For Immediate Release
Renforth Raises $1,376,260 To Fund Continued 2022 Exploration Of Battery Metals At Victoria West
Within The Surimeau District Property And On The Parbec Gold Deposit
Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is
pleased to announce that it has completed a private placement financing (the “Offering”) raising
$1,376,260 through the issuance of 13,750,0000 of flow-through common units (“Flow-Through
Units”), and 14,000 common units ("Units).
Renforth is also pleased to inform shareholders that the final 2021 drilling at Victoria West, within the
Surimeau District Property, has been successfully completed with a total of 7 holes drilled in 1203m
within the stripped area. Each hole encountered visible sulphides, samples have been sent for assay,
results will be released once received.
Renforth has now drilled 5,626m into Victoria West, this combined with Renforth’s surface work and
historical data demonstrates that Victoria West is a polymetallic occurrence currently striking over
5km within a 20km geophysical feature, with mineralization consisting of nickel, cobalt, copper, zinc,
platinum and palladium starting on surface and continuing to a vertical depth of at least 150m.
“We are happy to have raised a judicious amount of money pursuant to requests from shareholders
which we will immediately deploy in continuing our, to date, successful exploration on both our
wholly owned gold deposit contiguous to Canadian Malartic, Parbec, which has a structural setting
and lithological similarity to our neighbour, and on our Surimeau District Property. At Surimeau we
will work to extend and deepen the polymetallic “future facing” minerals in the Victoria West area of
our vast, >260 km2, wholly owned and road accessible battery metals property, also contiguous to
Canadian Malartic. We look forward to a New Year filled with new results and exciting field activities
on our properties and, with some success, continued asset growth” states Nicole Brewster, President
and CEO of Renforth.
The proceeds of this offering will be used to fund 2022 exploration on the Company’s wholly owned
properties as follows;
Surimeau
• Renforth has retained Joël Dubé ing., P.Eng of Dynamic Discovery Geoscience, to carry out a
Prospectair MAG-TDEM (helicopter borne electromagnetic geophysical survey) on the
Surimeau District Property which will result in consistent detailed geophysical information for
Victoria West, Colonie and LaLonde.
Unit 1B 955 Brock Road
Pickering ON L1W 2X9
www.renforthresources.com
• Interpretation of the geophysical survey, combined with results from Renforth’s recently
completed comprehensive channeling of the stripped area at Victoria West and the assay
results from the just completed drill program.
Parbec
• Renforth has retained Stefan Kruse Ph.D., P.Geo, Senior Structural Geologist of Terrane
Geoscience to deliver a structural site characterization of Parbec. The first phase of this will
occur in January 2022 and consist of a compilation and integration of all relevant data and a
gap analysis. This process will dictate, through the gap analysis, the next steps Renforth will
take in working to identify the structural controls to the relatively high grade magnetic diorite
intersected in numerous drill holes.
• Results from the recently completed >15,000m of drilling at Parbec have highlighted areas
which require additional assay work, both in the recently completed holes and in prior
adjacent drillholes. Renforth is compiling this assay list and will be submitting pulps for assay
or cutting new samples in core as appropriate.
Each Flow-Through Unit was priced at $0.10 and consists of one common share in the capital of the
Company issued on a ‘flow-through’ basis, and one-half of one common share purchase
warrant. Each whole warrant issued with the Flow Through Unit, entitles the holder to purchase one
common share in the capital of the Company at a price of $0.13 for a period of 12 months following
closing. Each Unit was priced at $0.09 consists of one common share in the capital of the Company,
and one common share purchase warrant. Each warrant issued with a Unit, entitles the holder to
purchase one common share in the capital of the Company at a price of $0.13 for a period of 12
months following closing.
In connection with the Offering, the Company paid $66,000 and issued 660,000 compensation
warrants in respect of the Offering. Each compensation warrant is exercisable, for 12 months, for one
common share of Renforth at $0.13 per share. All securities issued under the Offering are subject to a
four-month statutory hold period in Canada.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton
P.Geo (OGQ#2129), a “qualified person” pursuant to NI 43-101.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
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About Renforth
Renforth wholly owns the ~260 km2 Surimeau District Property, which hosts numerous areas of
polymetallic and gold mineralization, each with various levels of exploration, as well as a significant
amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a
5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western
end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab
sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. In addition to this the Lalonde, Surimau
and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold
showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold
deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic,
Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain
historic holes, filled in gaps in the resource model with newly discovered gold mineralization and
extended mineralization deeper. Based upon the success of this significant drill program the Company
considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a
grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date.
With the new data gained Renforth will undertake to complete the first ever structural study of the
mineralization at Parbec, as well as additional total metallic assay work in order to better
contextualize the nugget effect on the gold mineralization.
Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-
Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
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 is 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.