Spruce Ridge Resources Begins Drilling the Crawford Property
Spruce Ridge Resources Ltd.
7735 Leslie Road West, Puslinch, ON N0B 2J0
Telephone: (519) 822-5904, Fax: (519) 823-5090
PRESS RELEASE 2018 - 13 November 15, 2018
SPRUCE RIDGE RESOURCES BEGINS DRILLING THE CRAWFORD PROPERTY
Wellington County, Ontario – November 15, 2018 – Spruce Ridge Resources Limited (TSXV: SHL) ("Spruce
Ridge”) is pleased to announce that drilling has begun on their optioned property in Crawford Township, Ontario.
The diamond drill program will be approximately 2,000 metres.
The first drill hole is planned to be 600 metres deep and will test the strongest portion of a 3,000 metre long
magnetic anomaly within an interpreted ultramafic and mafic intrusive complex covering an area of approximately
3.5 by 2.0 kilometres, estimated from recent ly completed airborne geophysical surveys. An airborne gravity
survey using the Falcon system was recently carr ied out by Noble Minerals Inc., the Optionor of the Crawford
property. A helicopter-borne electromagnetic and magnetic survey also covered the area.
The presence of ultramafic and mafic intrusive rocks is confirmed by limited diamond drilling performed i n the
1960s. Ultramafic-mafic complexes are favourable sites for nickel ± copper ± cobalt ± platinum -group elements
(PGEs). The primary target of the upcoming drill program is a magnetic anomaly peak and closely associated
1400-metre long EM conductor. An artificial intelligence (AI) assessment of combined geological and geophysical
data confirmed the favourable interpretation of the ultramafic -mafic intrusive complex as a target for nickel
mineralization, as well as highlighting VMS -type targets elsewhere on the Crawford property (see news release of
July 16th, 2018).
The Crawford property is crossed from south to north by provincial highway 655. The target area is 42 kilometres
by road from the centre of Timmins, and it is 17 kilometres north of the K idd Creek zinc-copper-silver mine, which
has been in continuous operation for 50 years, producing in excess of 100 million tonnes of ore, making it one of
the largest VMS mines in Canada and in the world. The Timmins mining camp has produced more gold than any
other mining district in Canada, over 70 million ounces to date. Gold mining commenced in 1909 and continues
today, with new discoveries being made in response to new exploration programs. The target area for the present
drilling program is within 1,500 metres of highway 655.
Despite being so close to a major mining camp, the Crawford property has seen relatively little historical
exploration. It is in the Abitibi Clay Belt; outcrops are essentially non-existent, making conventional prospecting
impossible. The clay and till cover is up to 60 metres thick , and the clay interfered with early electromagnetic
survey systems, creating false anomalies and distorting bedrock c onductive responses so that anomalies often
appeared in the wrong place. Modern electromagnetic methods have largely overcome the clay effects and
enable definition of drill targets under thick overburden. Magnetic and gravity surveys are also unaffected by clay
and have played a major role in defining the current exploration targets.
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About Spruce Ridge Resources
Spruce Ridge Resources has a 100% interest in the Great Burnt Copper/Gold Property in Central Newfoundland
which covers a series of copper ± gold rich VMS deposits including the Great Burnt Main Deposit. Potential high-
grade starter pit identified with 237,000 tonnes at 2.51% copper (undiluted) at the Great Burnt Zone.
Management considers that an open pit wi th processing at a custom facility should have low capex requirements .
It also has a 50% joint venture with Americas Silver Corporation on property that contains tailings with low grade
gold and silver from the Drumlummon Mine in Montana and an agreement with Anaconda Mining whereby
Anaconda acquired from Spruce Ridge the Viking and Kramer gold properties in northwestern Newfoundland.
The Viking property is host to the Thor Deposit which has combined Indicated and Inferred resources totaling
83,000 ounces of gold at an average grade of 2.09 and 1.79 g/t Au respectively at a 1.0 g/t Au cutoff.
Neither 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. The technical material in this news release has been prepared and/or
reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43- 101. No information is available on
sample preparation, security, analytical procedures or QA/QC protocols used by INCO in its 1965 drilling program on the Crawford property
For further information please contact:
John Ryan, President & CEO
Spruce Ridge Resources Ltd.
Phone: 519-822-5904
Email: [email protected]
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements " which are not comprised of
historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans,
objectives or goals, including words to the effect that the Company or management expects a stated condition or result to
occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on
information currently available to the Company, the Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward-looking information c ould cause
actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this news release includes, but is not limited to, the Comp any’s
objectives, goals or future plans, statements regarding exploration results, potential mineralization, the estimation of mineral
resources, exploration and mine development plans, timing of the commencement of operations and estimates of market
conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are
not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inabili ty to
complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results,
delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability
to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs
of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other
risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents
filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance should not be placed on such information, which only applies
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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than as required by law.