Stellar Africagold Update Report to May 15th 2021
STELLAR AFRICAGOLD UPDATE REPORT TO MAY 15th 2021
Vancouver, May 19, 2021– J. François Lalonde, President and C EO of Stellar AfricaGold Inc., (TSX -V:
SPX) ("Stellar" or the "Company") is pleased to provide an update on i ts exploration activities in
Morocco and Mali to May 15th 2021.
“I am pleased with our progress since the completion of Stellar’s recent round of financing” commented
Stellar President J. Francois Lalonde. “ As detailed below, much progress has been made towards
initiating an aggressive phase 1 drill program at the Tichka Est Gold Project in Morocco, towards
finalizing Stellar’s option to acquire the Imiter Nord Silver Project and towards completing Stellar’s
permit application process for the Namarana Gold Project in Mali. This is the first of many update
reports which I will issue in the coming months which will be in addition to project and event specific
news releases which will be made as acquisition and exploration events occur.”
Tichka Est Gold Project, Morocco
Stellar continued to evaluate trenching results from its Tichka Est Gold Project to determine more
accurately the drill pad locations in Zone A and B for the forthcoming Phase 1 drill program. Design and
construction of access road is challenging as it must traverse over six kilometers up steep mountain
terrain along the valley contours , maximize site access for both Phase 1 drilling progra m and future
programs, all while minimizing the overall construction and maintenance cost. (See Figure 1 below)
Interested local contractors with good experience of these conditions were short listed and have been
invited to make a site visit within the forthcoming week. Formal bids for the road and drill pad
construction on an expedited basis are being requested and are expected to be tendered prior to the
end of May. Management anticipates that the contractor will be selected and the construction contract
issued shortly thereafter. Concurrently, bids for the drill program are also being sought. Details of the
proposed Phase 1 drill program will be announced in the near future.
Figure 1 - Proposed Road Route to Zones A and B
Imiter Nord Silver Project, Morocco
Stellar’s due diligence evaluation reconnaissance mission on its pending acquisition of the Imiter Nord
Silver Project in Morocco was completed successfully on May 11 th, 2021. Imiter Nord is contiguous to
Managem’s Imiter Silver Mine, and t he results of this reconnaissance mission are an essential
component of management’s evaluation of the exploration potential of Imiter Nord and w ill better
inform management’s final decision regarding the option agreement which is still in its due diligence
period. The samples collected during the reconnaissance mission were sent to the African Laboratory
for Mining and Environment (AfriLab) in Mar rakech for analysis. As soon as the assay results are
received and evaluated, and management makes a final decision regarding the Imiter Nord option
agreement shareholders will be notified. It is anticipated that this could occur as early as mid-June.
Namarana Gold Project, Mali
On April 27, 2021 Stellar AfricaGold Inc. announced that its wholly owned subsidiary Stellar Pacific Mali
SARL had been awarded a 52 square-kilometre gold “Autorisation d'Exploration” (authorization to
prospect) in southwest Mali. The authorization to prospect gives Stellar the exclusive right to conduct
an exploration ‘look-see’ program within the permit area and, subject to the results of that program, to
thereafter apply for a full exploration permit. A reconnaissance evaluat ion program was developed
based on observations made by Stellar’s Malian technical crew during a recent field visit and on a review
of Stellar’s prior early-stage prospecting results over this same exploration area. This program will assist
management’s decision to complete Stellar’s application for the full exploration permit on its newly
defined 52 square kilometers area. The budget for this program has been approved, necessary funds
advanced and the program is expected to begin May 19, 2021.
For the benefit of its shareholders, Stellar will keep providing progress update report on a regular basis.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian precious metal exploration company with offices in Vancouver, BC
and in Montreal, QC. Stellar President François Lalonde can be contacted at 514-994-0654 or by email
The technical content of this press release has been reviewed and approved by Yassine Belkabir,
MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
On Behalf of the Board
J. François Lalonde,
President and 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 currently 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", "budget" 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 cou ld 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 a nticipated; 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 asset s;
legislative, political or economic developments in the jurisdictions i n 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 associ ated 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. Risks an d 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.