Starr PEAK Expands Newmétal Property Contiguous with AMEX Exploration’S Perron Project and Past-Producing Normétal MINE IN Quebec
STARR PEAK EXPANDS NEWMÉTAL PROPERTY CONTIGUOUS WITH
AMEX EXPLORATION’S PERRON PROJECT AND PAST-PRODUCING
NORMÉTAL MINE IN QUEBEC
VANCOUVER, Canada – June 1, 2020 – Starr Peak Exploration Ltd. (“Starr Peak or the
Company”) (TSX-V: STE) (OTC: LSGEF) is very pleased to announce it has expanded its
NewMétal property (“NewMét al” or “the Property”) in northw estern Quebec, directly east of
Amex Exploration Inc.’s Perron project and directly adjacent to the past-producing Normétal
Mine. The newly expanded land position includes 11 claims covering 468 hectares, growing the
NewMétal property to a total of 64 mineral clai ms covering 1,888 hectares of highly prospective
ground. The newly acquired claims are comprised of a block directly adja cent and on trend to
Amex Exploration Inc.’s Perron project. Th e geology underlaying th e newly expanded land
package is comprised of felsic and intermediate volcanic and felsic plutonic rocks of the Normétal
formation and is highly prospective for gol d-rich VMS mineralization and orogenic gold
mineralization.
Starr Peak plans to complete an initial program of compilation, prospecting, geological mapping,
airborne EM survey and high-resolution MAG drone geophysics in summer and fall of 2020 in
order to prepare for an inaugural drilling campaign in winter 2021.
Johnathan More, Chairman and CEO of Starr Peak commented, “With this new acquisition Starr
Peak has secured a dominant land position in a growing gold mining camp. Our property is next
door to the Amex Perron property which, over th e past 18 months, has produced some of the
highest grade gold exploration holes in Canada. Located in one of the most prolific gold producing
regions of the world, the Quebec Abitibi, our property has highly prospective geology, several
historic mineral occurrences and gold showings , existing geophysical targets, and excellent
infrastructure. Our recently completed $1 million financing will be used to rapidly advance the
project to develop high priority drill targets for a winter 2021 drilling campaign.”
Figure 1: Regional Geology of the Abitibi Greenstone Belt and localisation of Starr Peak's
NewMétal Property.
The NewMétal Property is located in the Abitib i Greenstone Belt of Quebec, along the Chicobi
Deformation Zone. The Property is directly adjacent to Amex Exploration Inc.’s Perron property,
from which recently announced drill results include 32.2 g/t Au over 5.90 metres and 30.98 g/t Au
over 8.50 metres, and the past-producing Normét al Mine, from which ~10.1M tonnes of 2.15%
Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag we re extracted during the periods of 1926-1929,
1931-1933, and 1937-1975 and developed down to a depth of 2.7 km below surface.
The NewMétal Property is cross-cut by the Normetal Fault Horizon associated with gold and base
metal mineralization along strike. The property is also located in the eastern extension of the Perron
fault known to be a prolific gold bearing struct ure. Geology underlaying the Property consists of
favourable rhyolite and mafic volcanic rocks, as well as diabase dikes and granitic intrusions. Two
known mineral showings occur on the Property. The Rang I-Lots 44-57 showing was identified in
diamond drilling in 1966, with samples reaching up to 0.02% Cu and 2.38% Zn over 0.15 metres
in historical drillhole Sondage 1-66, and up to 1.02 g/t Au occurring over unknown widths in
drillhole Sondage 93-05. The Perr on-Desmeloizes-Nord showing is a surface showing identified
in 1952 with select samples reaching up to 14.5 g/t Au.
Figure 2: Geological Map of the NewMétal Property wi th respect to Amex Exploration’s Perron
Project and the Normétal Past-Producing Mine.
Transaction Terms
As per the terms of the Agreement, the Comp any may acquire up to a 100% interest in the
NewMétal Property in two stages from a group of arms length vendors through the issuance of 4.5
million common shares of the Company payable upon TSX Venture Exchange approval (to acquire
a 50% interest) and a further 4.5 million common shares to be issued on or before September 30,
2020 to acquire the remaining 50% interest. The Property is subject to a 3% Net Smelter Royalty
of which 1% can be repurchased for $1,000,000 at any time prior to commercial production. A
finders fee will be paid in conjunction with the acquisition.
Qualified Person
Alexis Paulin Bissonnette, I ng. (OIQ 5037621), Independent Qualif ied Person as defined by
Canadian NI 43-101 standards, have reviewed and approved the geological information reported
in this news release.
References
Perron-Desmeloizes-Nord:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&
mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit
=NUMR_INTER&oper_crit=EGAL&valr_crit=4018
Rang I-Lots 44-57:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&
mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit
=NUMR_INTER&oper_crit=EGAL&valr_crit=4019
Amex Exploration Perron Project:
Amex Exploration Inc. Press Releases dated June 3, 2019 and May 21, 2019
Normetal Mine:
Summary Report, Normetmar Project, January 1988 by L. Boivin
On Behalf of the Board of Directors of Starr Peak Exploration Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak
Starr Peak Exploration Ltd. is a Canadian based mineral expl oration company focused on the
acquisition and exploration of precious and base metal mineral deposits. The primary objective of
the Company is to acquire, e xplore and develop high potential and quality gold deposits and
projects in the Americas. The Company is committed to create long term shareholder value through
mineral discoveries.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the
content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news
release. The securities being offered have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws,
and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption
therefrom. This press release is for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information:
This press release contains forward-looking information based on current expectations, including
the use of funds raised under the Offering. These statements should not be read as guarantees of
future performance or results. Such statements involve known and unknown risks, uncertainties
and other factors that may cause ac tual results, performance or achievements to be materially
different from those implied by such statem ents. Although such statements are based on
management's reasonable assumptions, Power Meta ls assumes no respons ibility to update or
revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes th at the expectations and assumptions on which the forward-
looking statements are based are reasonable, undue reliance should not be placed on the forward-
looking statements because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they
involve inherent risks an d uncertainties. These statements speak only as of the date of this press
release. Actual results could differ materially from those currently anticipated due to several
factors and risks including various risk factors discussed in the Company's disclosure documents
which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Sectio n 21E the Securities Ex change Act of 1934, as
amended and such forward-looking statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved
the contents of this press release.
SOURCE Starr Peak Exploration Ltd.
For further information: Johnathan More, Chairman and CEO, 646-661-0409