Stellar Africagold Closes Loan Facility, Grants Stock Options
STELLAR AFRICAGOLD CLOSES LOAN FACILITY, GRANTS STOCK OPTIONS
Vancouver, November 14, 2017 – John Cumming, President and Chief Executive Officer of Stellar AfricaGold
Inc., (TSX-V: SPX) ("Stellar" or the "Company") announces:
LOAN FACILITY
The TSX Venture Exchange has approved and Stellar’s Guinea subsidiary, MGWA Goldenfrank SARL, has closed
the US$400,000 loan facility announced October 27, 2017.
The loan proceeds will be used to complete the installation and assembly of the 150 tonne per day gravity
separation mill at the Balandougou gold project, Guinea, and for working capital during the start-up period of
the 15,000 tonnes bulk sample program.
The loan is unsecured, bears interest at 10% per annum and is for a 24 -month term. Interest is ca pitalized for
the first 8 months (until June 30, 2018) after which blended principal and interest loan payments will retire the
loan on November 10, 2019.
Stellar has provided a collateral guarantee of repayment of the loan , and has issued to the lender a 24-month
loan bonus warrant to purchase up to 1,000,000 shares of Stellar at C$0.05 per share. The warrant expires
November 10, 2019.
GRANT OF STOCK OPTIONS
The Company has granted 3 ,492,000 incentive stock options to directors, officers and consultants of the
Company. The options are for a five-year term expiring November 14, 2022, are exercisable at $0.05 per share,
are fully vested , and are granted pursuant and subject to the Company’s approved Stock Option Plan and
required regulatory approvals.
A grant of 3,637,000 stock options previously announced (August 22, 2017) did not proceed.
BALANDOUGOU GOLD PROJECT BULK SAMPLE UPDATE
Stellar is developing the promising gold potential of the advanced exploration stage B3 Zone of its 100% owned
Balandougou Gold Project in Guinea, including installation of a 150 tonnes per day gravity separation plant
based on design parameters defined by SGS South Africa and Henan Xingyang Mining Machinery Manufactory,
a branch of XKJ Solution Group of Zhengzhou, China.
The gravity plant equipment , and structural steel footings and supports have been delivered to the mine site
and are awaiting final assembly and installation.
Stellar has extracted and stockpiled the first 15,000 tonnes of gold -mineralized mater ial from an identified
extraction trench and this material is ready for processing as an initial bulk sample once commissioning of the
plant begins. Commissioning is planned for January 2018.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian gold exploration Company based in Montreal, Quebec, with operations
concentrated mainly in West Africa and in Quebec.
The Company is currently developing the promising gold potential of the advanced exploration stage
Balandougou project in Guinea, including a 15,000 tonne bulk sample program. (see News Release March 1,
2017) The Company also owns the Namarana project in neighbouring Mali. In Quebec, the Company owns
100% of the Opawica Project in the Chibougamau mining camp.
The technical content of this press release has been reviewed and approved by independent consultant Greg
Isenor, P. Geo, a Qualified Person as defined in NI 43-101.
For further information please contact John Cumming, President & CEO, Stellar AfricaGold Inc.,4908 Pine
Crescent, Vancouver, BC, V6M 3P6, or Maurice Giroux, VP Exploration, Stellar AfricaGold Inc., 1035 West
Laurier Street, Suite 201, Montréal (Québec) H2V 2L1. Tel.: 514-866-6299 Email: [email protected] or
access the Company’s website at www.stellarafricagold.com.
On Behalf of the Board
John Cumming, LLM,
President & CEO
This release contains certain "forward -looking information" under applicable Canadian securities laws concerning the
Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based
on information curren tly available to the Company. In some cases forward -looking information can be identified by
terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects",
"potential", "scheduled", "forecast", "bu dget" or the negative of those terms or other comparable terminology.
Assumptions upon which such forward -looking information is based includes, among others, that the conditions to
closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the
definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the
Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results
to differ materially from those predicted herein include, without limitation: that the remaining conditions to the
Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as
anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and
electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising
from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and
interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic
developments in the jurisdictio ns in which the Company carries on business; operating or technical difficulties in
connection with mining or development activities; laws and regulations governing the protection of the environment;
employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of
exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks
involved in the exploration, development and mining business. Risk s and unknowns inherent in all projects include the
inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects,
and the future prices for the relevant minerals.
Neither the 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.