Roscan Provides Update ON WEST Africa Activities
RosCan Minerals Corporation News Release December 5, 2017
1
RosCan Minerals Corporation
365 Bay Street, Suite 400
Toronto, Ontario, M5H 2V1
NEWS RELEASE
ROSCAN PROVIDES UPDATE ON WEST AFRICA ACTIVITIES
Toronto, December 5, 2017 – RosCan Minerals Corporation (“RosCan” or the “Company”) (TSX-V: ROS) is pleased to provide
the following progress update:
DORMAA GOLD PROJECT (GHANA)
Drill Program – Gold anomalous areas have been identified w ith the completion of a prospecting program and gold-in-soil
geochemical survey. A 3,000 metre reverse circulation and air core rotary blast drill program has been designed to test these
anomalies and had been delayed due to obtaining the necessary approvals. This drilling is expected to begin in January 2018.
Option and Joint Venture Agreement – Certain provisions in the agreement made with Pelangio Exploration Inc. are being
renegotiated for RosCan to assume operatorship. The necessary amendments are expected to be finalized by year end.
In addition, RosCan’s remaining payments pursuant to the agreement have been extended and are now as follows:
(a) fund $1,700,000 in exploration expenditures, as follows:
Amount Due Date
$700,000 By June 5, 2018; and,
$1,000,000 By June 5, 2019.
(b) pay to Pelangio an aggregate of $150,000, as follows:
Amount Due Date
$50,000 On June 5, 2018; and,
$100,000 On June 5, 2019
WEST AFRICA LAND ACQUISITION STRATEGY
RosCan is making excellent progress in advancing its strategy to acquire additional gold prospective properties in West African
countries. RosCan is currently assembling a sizeable land package in Mali and expects to provide further details in the coming
weeks.
COMMENTARY
Greg Isenor, President and CEO of RosCan, stated, “We are excited that the first phase of drilling on th e Dormaa P roject is
expected to begin in January and appreciate the efforts of the traditional authorities and government officials in the approval
process. In addition, we are fairly advanced on assembling a land package in the prolific Birimian rocks of Mali, West Africa,
using an approach that has proven to be successful for me in past ”.
ABOUT ROSCAN
RosCan Minerals Corporation is a Canadian gold exploration company focussed on the acquisition of gold properties in West
Africa. The Company is currently exploring the promising gold potential of the early exploration stage Dormaa Project in
Ghana. RosCan is earning a 50% interest in the Dormaa Project from Pelangio Exploration Inc. (‘Pelangio’) .
For further information, please contact:
Greg Isenor
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
Email: [email protected]
RosCan Minerals Corporation News Release December 5, 2017
2
RosCan Minerals Corporation
365 Bay Street, Suite 400
Toronto, Ontario, M5H 2V1
Forward Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that relate to the Dormaa
Project. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects,
and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in
this news release include, but are not limited to, statements with respect to the option to earn an interest in the Dormaa Pr oject, the
Company’s proposed financing activities and its ability to satisfy its project financing and working capital needs, planned use of any proceeds
or available funds, objectives, goals or future exploration plans at the Dormaa Project, the business and operations of the C ompany.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject
to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materi ally from
those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: failure of Pelangio to obtain the
authorizations for the assignment to it of the Prospecting License; the Company’s inability to obtain financing to satisfy the payments
necessary for it to earn an interest in the Dormaa Project when due; political and economic risks related to Ghana, title ris ks, liquidity risks
related to the Company and Pelangio, general business, economic and social uncertainties; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; delay or failure to receive board or regulatory approvals; those additional risks
set out in the Company’s public documents filed on SEDAR at www .sedar.com; and other matters discussed in this news release. Although
the Company believes that the assumptions and factors used in preparing the forward -looking statements are reasonable, undue reliance
should not be placed on these statements, which onl y apply as of the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention o r obligation to
update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange)
accepts responsibility for the adequacy or accuracy of this release.