RJK Explorations Ltd Drill Permits Granted and Corporate Update
P.O. Box 1053, 4 Al Wende Avenue, Kirkland Lake, ON P2N 3L1 Tel: (705) 568-7956
RJK Explorations Ltd Drill Permits Granted and Corporate Update
Kirkland Lake, Ontario – January 17, 2023 – RJK Explorations Ltd. (“RJK” or the
"Company”) (TSXV: RJX.A, US OTC: RJKAF). Over the past 12 months, RJK has been in
discussions with the Ministry of Energy, Northern Development and Mines, Mineral Development
Branch and First Nations to obtain drilling permits in the Cobalt region for new targets. These
drilling permits have taken up to 10 months to be granted but we are pleased to report that RJK
is now in possession of current drilling permits and will be mobilizing a diamond drill this month to
start testing priority targets. Over the past 6 months, RJK tested a total of 3 targets on patented
claims that did not require drilling permits, along with previously permitted properties and were
not successful in finding kimberlite or other economic mineralization. New targets were ground -
truthed with kimberlite indicator mineral trains and geophysics. Additional priority targets remain
untested.
Negotiations with First Nations that have territorial rights in the Coba lt region have resulted in
protocol letters that will be the template for further documentation to create a favorable working
relationship between RJK and First Nation communities.
RJK has purchased two claim groups from a prospector where RJK will pay a one-time fee of
$10,000 Cdn to purchase a undivided 100% interest in these claims subject to a 2% NSR with
respect to Precious or Base-Metals and a 2% GORR with respect to Diamonds of which RJK may
purchase (buy-back) 50% (1%) of GORR for $500,000 and a further 50% of the remaining Royalty
(0.5%) for $750,000. Similarly for the NSR, RJK will have first right of refusal on the remaining
Royalties should they become available for purchase. RJK staked additional ground in the area
to expand the coverage of all potential targets.
On a corporate note Dan Mackie has stepped down as a director due to health reasons and the
management and directors of RJK would like to thank Dan for his time and guidance as a director
of RJK. For the interim period the existing Directors of RJK will continue to oversee the company's
affairs.
RJK has decided not to continue with the Kon option. After extensive drilling, the results of this
program did not meet RJK’s project economic evaluation benchmarks at this time. RJK would like
to thank Al Kon for his assistance with the Company's efforts in the Cobalt project.
Mr. Peter Hubacheck, P. Geo., Project Manager for RJK and the Qualified Person as defined by
National Instrument 43-101 has approved the technical disclosure in this release.
Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: [email protected]
Web Site: https://www.rjkexplorations.com
Company Information: Tel: (705) 568-7445
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 release.
Forward Looking Information
This news release includes certain forward -looking statements, which may include, but are not
limited to, statements concerning the Offering generally, the proposed use of the proceeds, and
the TSXV’s final approval of the Offering. Any statements contained herein that are not statements
of historical facts may be deemed to be forward -looking, including those identified by the
expressions "will", "anti cipate", "believe", "plan", "estimate", "expect", "intend", "propose" and
similar expressions. With respect to forward-looking statements and information contained herein,
we have made numerous assumptions, including assumptions about the receipt of final
acceptance by the TSX Venture Exchange and the state of the equity markets. Forward -looking
statements involve known and unknown risks and uncertainties that could cause actual results,
performance, or achievements to differ materially from those expressed or implied in this news
release. Factors that could cause actual results to differ materially from those anticipated in this
news release include, but are not limited to, the Company’s failure to receive final approval from
the TSXV in connection with the Offering. RJK assumes no obligation to update the forward -
looking statements or to update the reasons why actual results could differ from those reflected
in the forward-looking statements except as required by applicable law.