Storm Completes Option Payment for Miminiska and Keezhik
News Release
November 12, 2024
TSX-V: STRM
Storm Completes Option Payment for Miminiska and Keezhik
Vancouver, B.C., November 12, 2024 – Storm Exploration Inc. (TSX -V: STRM) (the
“Company”) is pleased to announce that it has completed an option payment consisting of
$262,500 cash and the issuance of 4,740,864 common STRM shares at a deemed price of
$0.052733 per share in connection with its Option Agreement with Landore Resources
Canada Inc. (“Landore”) to acquire a 100% interest in Miminiska and Keezhik Project.
The payment to Landore was made in conjunction with the amendment to the option
agreement announced August 19, 2024 ( see news release here ). The remaining o ption
payments under the amended agreement are subject to TSX Venture Exchange
acceptance.
“It is rare to have an opportunity to acquire district- scale projects like Miminiska and
Keezhik, that have extensive, drill-confirmed high-grade gold endowment but are largely
unexplored,” commented Bruce Counts, President and CEO of Storm. “We are eager to
advance both properties beginning with the drill -ready Miminiska target, which has the
potential to host a significant gold deposit.”
About the Miminiska & Keezhik Projects
The Miminiska and Keezhik projects are located within the traditional territory of the
Eabametoong First Nation with whom Storm signed an Exploration Agreement (see news
release dated May 23 rd, 2024: Storm Exploration and Eabametoong First Nation Sign
Exploration Agreement). The projects lie within the prospective geology of the Miminiska-
Fort Hope greenstone belt, approximately 350 kilometres north of the city of Thunder Bay,
Ontario. Each project has the potential to host a multi-million-ounce orogenic gold deposit.
The Miminiska property is the Company’s primary focus and hosts drill- confirmed, high-
grade gold mineralization at two primary prospects: Miminiska and Frond (refer to Figure
1). Historical assays include 5.75g/t Au over 20.84m* and 13.95g/t Au over
5.32m* with mineralization hosted in banded iron formation and associated shear zones.
Approximately 3,000m of drilling is planned for the Miminiska Target, which is located at
the western end of Miminiska property. The goal of upcoming drill program is to confirm
the target’s potential by expanding and extending the known high-grade, near-surface gold
mineralization.
2
Figure 1: Miminiska Property
* Historical results have not been independently verified by Storm; and, there is no guarantee that the
Company can reproduce the results in whole or in part. Potential investors should not rely on these
historical results when making an investment decision.
Qualified Person
The technical contents of this news release have been reviewed and approved by Bruce
Counts, B.A.Sc., P. Geo., President, CEO and a Director of Storm Exploration Inc. and
Qualified Person under National Instrument 43-101.
About Storm Exploration Inc.
Storm Exploration Inc. is a Canadian mineral exploration company focused on the
discovery and development of economic precious and base metal deposits on four district-
scale projects in northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility
for the adequacy or accuracy of this release.
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Forward Looking Information
This news release includes certain information that may constitute “forward -looking
information” under applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, the Company’s strategic plans, future operations , future
work programs and objectives. Forward- looking information is necessarily based upon a
number of estimates and assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed or implied by such
forward-looking information. There can be no assurance that such information will prove
to be accurate, as actual results and future events could differ materi ally from those
anticipated in such information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained in this press release
is given as of the date hereof and is based upon the opinions and estimates of management
and information available to management as at the date hereof. The Company disclaims
any intention or obligation to update or revise any forward -looking information, whether
as a result of new information, future events or otherwise, except as required by law.
For further information, please contact:
Storm Exploration Inc.
+1 (604) 506-2804