SUNVEST MINERALS ACQUIRES DISTRICT-SCALE MOOSEHEAD NORTH GOLD PROJECT 10,230 Acre Moosehead North Gold Project positions Sunvest Minerals on-trend with the recent Sokoman Iron Moosehead Gold Discovery
Suite 1240 – 789 W. Pender St., Vancouver, BC V6C-1H2 Phone: 604-683-3995 Fax: 604-683-3988
www.sunvestminerals.com
SUNVEST MINERALS ACQUIRES DISTRICT-SCALE MOOSEHEAD NORTH
GOLD PROJECT
10,230 Acre Moosehead North Gold Project positions Sunvest Minerals
on-trend with the recent Sokoman Iron Moosehead Gold Discovery
Vancouver, British Columbia – August 7th, - Sunvest Minerals Corp. (TSX-V: SSS) ("Sunvest
Minerals" or the “Company”) is pleased to announce it has agreed to acquire the Moosehead
North Gold Project (“Moosehead North”), comprising two claim blocks, situated near and on-trend
with Sokoman Iron Corp.’s (SIC-TSXV)(“SIC”) Moosehead Gold Project in Newfoundland,
Canada. The entire Moosehead North project consists of 165 claim units covering 10,230 acres
(4,215 hectares).
“The acquisition of the Moosehead North represents a fantastic early -mover position in a new
emerging gold exploration district in Canada. Sokoman’s recent assays have highlighted the high -
grade potential of this emerging Canadian gold exploration camp, located in the Central
Newfoundland Gold District. By strategically positioning Sunvest into the Moosehead gold belt, we
believe our shareholders stand to benefit from a highly prospective and immediate opportunity,”
stated Michael England, CEO of Sunves t Minerals.
The Moosehead North Gold Project tenures are to the southeast of, and on-trend to the northeast of
SIC's recently announced discovery hole ( Sokoman Iron Corp. news release, Sokoman Assays
Confirm High -Grade Gold Intersections at Moosehead Project, Newfoundland dated July 24,
2018)(“Sokoman News Release”) and are on-trend and adjacent to the claims recently announced
by Pivit Exploration Inc. (CSE:PIVT).
A map of the Moosehead North Gold Project is available at
http://www.sunvestminerals.com/moosehead
The northeastern claim block covers a NE-SE regional trend defined by a magnetic low that indicate
prospective geological units. The northeastern claim block is interpreted to be underlain by Late
Ordovician to Early Silurian-aged gre ywacke, conglomerate and sandstone, and greywacke
intruded by granites and gabbro.
The southeastern claim block bounda ry is within 2.2 kilometers of Sokoman’s recently announced
discovery drill hole . This block is interpreted to be underlain Late Ordovician to Early Silurian
aged greywacke, conglomerate and sandstone, and grewacke intruded by granite and gabbro. Early
to Late Silurian aged sandstone, siltstones and conglomerate (Botwood Group) also are interpreted
to be intruded by younger (Early Silurian to Devonian ) granite, granodorite and gabbro.
Suite 1240 – 789 W. Pender St., Vancouver, BC V6C-1H2 Phone: 604-683-3995 Fax: 604-683-3988
www.sunvestminerals.com
The Sokoman News Release disclosed an assay result of 44.96 g/t over 11.90 meters by way of
drill hole MH-18-01 from 109.00 metres to 120.90 metres. True thickness is believed to be 80% of
core length (see above referenced Sokoman News Release).
Summer Exploration Program at the Moosehead North Gold Project
Subsequent to closing of the Acquisition, as defined below, the Company intends to conduct a field
program to commence first-phase exploration of the Moosehead North Gold Project. The Company
anticipates providing further news to the market with respect to this explora tion program shortly.
Terms
In conjunction with the above, Sunvest Minerals has entered into a binding memorandum of
understanding to acquire 100 per cent of the common shares of a privately held company , 1174679
B.C. Ltd., which owns the Moosehead North Gold Project , from arm's -length vendors (the
“Acquisition”). Consideration for the Acquisition shall be ten million common shares of the
Company and a cash payment of $20,000. Sunvest shall also grant a two percent gross royalty on the
Moosehead North Gol d Project. The Acquisition will be done by way of a three -cornered
amalgamation. Finders' fees may be payable on th is transaction, subject to the policies of the TSX
Venture Exchange. The transaction is subject to approval by the TSX Venture Exchange.
The Company expects that the Moosehead North Gold Project will not be a Principal Property, as
that term is defined by the TSX Venture Exchange, as the project is expected to receive less than
20% of the Corporation’s available funds over the next 18 month s.
Financing
The Company further announces that it has arranged a non -brokered private placement of up to 25
million units ("Units") at a price of $0. 06 per Unit for aggregate gross proceeds of $ 1,500,000 (the
"Offering"). Each Unit will be comprised of one common share ("Share") and one-half transferable
Share purchase warrant of the Company ("Warrant"). Each full Warrant will entitle the Subscriber
to purchase one Warrant Share for a 36-month period after the Closing Date at an exercise price of
$0.10 per share. Proceeds raised from the Offering will be used for general working capital and
towards exploration on the Company’s exploration projects. Finders' fees will be payable on the
private placement, subject to the policies of the TSX Venture Exchange.
Garry Clark, P.Geo, a qualified person as defined by National Instrument 43-101, is the independent
qualified person responsible for reviewing and approving the technical contents of this press
release.
ON BEHALF OF THE BOARD
Suite 1240 – 789 W. Pender St., Vancouver, BC V6C-1H2 Phone: 604-683-3995 Fax: 604-683-3988
www.sunvestminerals.com
“Mike England”
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE
CONTACT: Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events
or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect
management’s current b eliefs and are based on assumptions made by and information currently available to the Company.
Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made
as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation
to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release
are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at
WWW.SEDAR.COM).