Spruce Ridge Resources Ltd. Acquires Mining Claims at Eight Dollar Mountain in Oregon
Spruce Ridge Resources Ltd. Acquires Mining Claims at Eight Dollar Mountain in
Oregon
Toronto, Ontario – March 18, 2024 – Spruce Ridge Resources Ltd. (“Spruce” or the “Company”)
(TSXV: SHL) is pleased to announce that it has staked several mining claims at Eight Dollar Mountain, an
area containing nickel laterite located in southwest Oregon, USA.
Steve Balch, President and CEO stated, “Eight Dollar should be considered a grass-roots property, but we
know it contains nickel laterite from historic exploration. We now have four properties in Oregon, two with
historical nickel resources (Cleopatra and Red Flat) , one with nickel sulphide intersections in drillcore
(Shamrock) and now more nickel laterite at Eight Dollar. We also retain our interest in the Great Burnt
Copper and South Pond C opper and Gold properties in Newfoundland, currently under option to Benton
Resources, and are one of Benton’s largest shareholders.”
Eight Dollar
Eight Dollar is located in Josephine County, southwest Oregon just west of the town of Selma. A total of
115 mining claims were staked totaling 962 ha (2,376 ac) covering most of the west side of the mountain.
Information on Eight Dollar dates to 1942 when it was explored by the Freeport Sulfur Company. The area
contains several discovery pits and shallow shafts. Over the years, discovery pits were enlarged, and access
roads installed with some bulk samples taken by backhoe. The area was assessed as recently as 2018 by the
Department of Geology and Miner al Inventories (DOGAMI). Commodities include n ickel, cobalt, and
molybdenum. Several occurrences of nickel laterite have been mapped over a wide area at Eight Dollar
including within the claims staked by Spruce.
Qualified Person
Stephen J. Balch, P.Geo. (ON), the Company’s President and CEO and a “Qualified Person” under National
Instrument 43-101, has reviewed and approved the technical content of this press release.
About Spruce Ridge
Spruce Ridge is a Canadian -based mineral exploration company focused on critical metal resources with
nickel projects in Oregon, United States and copper projects in Newfoundland, Canada. The Company also
holds a significant portfolio of mining securities including 3.6 million shares of Canada Nickel Company
Inc. (TSX-V:CNC), 10.0 million shares of Noble M ineral Exploration Inc. (TSX -V:NOB), 15.0 million
shares of Benton Resources Inc. (TSX-V:BEX) and 2.5 million shares of Magna Terra Minerals Inc. (TSX-
V:MTT). Spruce’s common shares trade on the TSX Venture Exchange under the symbol “SHL”. More
detailed information can be found on the Company’s website at:
http://www.spruceridgeresources.com
Contact
Stephen Balch, President & CEO
Phone: 905.407.9586
Email: [email protected]
Cautionary Statement
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
news release. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein. This news release contains statements that constitute
“forward-looking statements”. Forward-looking statements are statements that are not historical facts and
include, but are not limited to, disclosure regarding possible events, that are based on assumptions and
courses of action, and in certain cases, can be identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or
conditions “will”, “would”, “may”, “could” or “should” occur, or the negative forms of any of these words
and other similar expressions. Forward-looking statements include statements related to future plans for the
Company, and other forward- looking information. Forward- looking statements are based on various
assumptions including with respect to the anticipated actions of securities regulators, stock exchanges, and
government entities, management plans and timelines, as well as results of operations, performance,
business prospects and opportunities. Although the forward- looking statements contained in this news
release are based upon what the management of the Company believes are reasonable assumptions on the
date of this news release, such assumptions may prove to be incorrect. Forward-looking statements involve
known and unknown risks and uncertainties, they should not be read as guarantees of future performa nce
or results, and they will not necessarily be accurate indications of whether such results will be achieved. A
number of factors could cause actual results, performance or achievements to differ materially from the
results discussed in the forward -looking statements, including, but not limited to: an inability to develop
and successfully implement exploration strategies; general business, economic, competitive, political and
social uncertainties; the lack of available capital; impact of the evolving situation in Ukraine on the business
of the Company; and other risks detailed from time-to-time in the Company’s ongoing filings with securities
regulatory authorities, which filings can be found at www.sedarplus.ca. The Company cannot assure readers
that actual results will be consistent with these forward -looking statements. Readers are cautioned not to
place undue reliance on forward-looking statements in this press release. These forward-looking statements
are made as of the date of this news release and th e Company disclaims any intent or obligation to update
any forward-looking statement, whether because of new information, future events or otherwise, unless
otherwise required by law.