King’s Bay Receives Permit Approval For Lynx Lake Cu, Co Project in Labrador
Suite 1450 – 789 West Pender Street, Vancouver, BC, V6C 1H2 | Tel: 604.681.1568 | Fax: 604.681.8240
King’s Bay Receives Permit Approval For Lynx Lake Cu, Co
Project in Labrador
Vancouver, January 11th, 2017 – King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1) ,
operating as “King’s Bay” , a mining exploration and development company based in Vancouver,
announces approval from Newfoundland and Labrador Government, Department of Natural
Resources for the commencement of an electromagnetic survey in south eastern Labrador.
The focus of the airborne survey is locate high priority drilling targets for its 100% owned Lynx
Lake Copper, Cobalt project located 100km south east of Happy Valley‐Goose Bay, Labrador.
The Lynx Lake property contains grab samples assaying up to 1.39% copper, 0.94% cobalt, 0.21%
nickel and 6.5 g/t silver. Government regional low resolution residual magnetic surveys and
preliminary EM‐16 (hand held geophysical unit) surveys done by local prospectors in 2014 show
strong conductors beneath the overburden and provide incentive to explore the area further for
more surface and sub surface mineralization.
Company President Kevin Bottomley states “The granting of our permit is an important first step in
the exploration process for King’s Bay. Our goal is to get working on all aspects of our Lynx Lake
Copper / Cobalt property as soon as possible. The successful completion of our financing on
January 3 rd was a key component of that goal”
King’s Bay will begin to prepare proposed flight line orientation and spacing for the upcoming
drilling program and has begun to evaluate quotes from potential vendors.
About Cobalt
At this time, the price of cobalt is rising due to a combination of factors. Some of these factors are
related to unsettled conditions in areas such as the Democratic Republic of Congo, where the
majority of the world’s cobalt is recovered. Other factors include an increased demand for
rechargeable batteries. A single rechargeable ion car battery contains as much as 20 kilograms of
cobalt. In addition to batteries, cobalt is used in alloys for aircraft engine parts and for alloys with
corrosion/wear resistant uses. Cobalt also has many medical uses; cobalt isotopes are used to
produce stable dichromatic beams in “cobalt therapy”, which is used to treat cancer. Molybdenum
is also an important element of interest and can be used in fertilizer as well as battery electrodes.
About King’s Bay
Suite 1450 – 789 West Pender Street, Vancouver, BC, V6C 1H2 | Tel: 604.681.1568 | Fax: 604.681.8240
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America.The
company believes in this emerging fast‐growth sector and will continue to seek out and evaluate
properties that show promise for development. King’s Bay Gold Corp is operating as King’s Bay.
On Behalf of the Board,
Kevin Bottomley
CEO, President
Forward-Looking Statements
This news release contains forward‐looking information which is subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to differ from those
projected in the forward‐looking statements. These forward‐looking statements are subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward‐looking information . Risks that could change
or prevent these statements from coming to fruition include that the Company may not raise
sufficient funds to carry out our plans, changing costs for mining and processing; increased capital
costs; the timing and content of upcoming work programs; geological interpretations based on
current data that may change with more detailed information; potential process methods and
mineral recoveries assumption based on limited test work and by comparison to what are
considered analogous deposits that with further test work may not be comparable; the availability
of labour, equipment and markets for the products produced; and despite the current expected
viability of the project, that the minerals on our property cannot be economically mined, or that
the required permits to build and operate the envisaged mine cannot be obtained. The forward‐
looking information contained herein is given as of the date hereof and the Company assumes no
responsibility to update or revise such information to reflect new events or circumstances, except
as required by law.