Tinone Completes Acquisition of the Rattler Range TIN Project IN Tasmania, Australia
TINONE COMPLETES ACQUISITION OF THE
RATTLER RANGE TIN PROJECT IN
TASMANIA, AUSTRALIA
TSX.V: TORC OTCQB: TORCF
VANCOUVER, BC
,
Nov. 23, 2022
/CNW/ -
TinOne Resources Inc.
(TSXV: TORC) ("
TinOne
" or
the "
Company
") is pleased to announce that further to its news release on
August 30, 2022
, the
Company has now acquired a 100% undivided interest in the Rattler Range tin project ("
Rattler
Range
") in northeastern
Tasmania, Australia
.
"
With the completion of the acquisition of the Rattler Range tin project, TinOne now controls five
out of the seven primary tin occurrences in
Northeast Tasmania
,"
stated
Chris Donaldson
, TinOne's
Executive Chairman.
"The Company's experienced geological team will apply modern techniques at
Rattler Range with the goal of unlocking value in an area that has seen limited recent exploration."
Upon closing, the Company issued 1,000,000 common shares (the "
Consideration Shares
") at a
deemed issuance price of
$0.10
per Consideration Share. The Consideration Shares are subject to
a hold period expiring four months and one day from the date of issuance.
Additionally, the Company has agreed to grant the vendor a 2% net smelter returns royalty over the
project (the "
NSR
"). The Company will have the right, at any time upon notice being given to the NSR
holder, to repurchase 1/2 of the NSR for
C$1,000,000
in cash.
About Rattler Range
The Rattler Range project, consisting of a 32km
2
exploration license (EL10/2019), is a highly
prospective tin project in northeastern
Tasmania, Australia
and located only 64km from the city of
Launceston. Historical records
1
indicate the presence of 47 individual named tin occurrences across
a 12km long, northwesterly oriented mineralized trend that has seen very little on-ground exploration
since the 1980s. The district contains hard rock greisen and vein mineralization in a cupola zone of
highly fractionated, evolved granite.
High priority initial targets include Bells Hill where multiple mineralized lodes, 1.5 to 6 metres wide,
occur over an area of at least
500m
of strike length. No systematic exploration has been conducted
and only 2 drill holes have been completed at the prospect. Other priority targets include the multi-
kilometer scale tin-bearing alteration zones at Ruby Flats,
Walsh's
, Mammoth and Mt Paris.
______________________________
1
Source: Mineral Resources Tasmania www.mrt.tas.gov.au
Figure 1: Rattler Range tin project location (CNW Group/TinOne Resources Corp.)
Figure 2: Rattler Range tin project summary geology and key prospects (CNW Group/TinOne
Resources Corp.)
About TinOne
TinOne is a TSX Venture listed Canadian public company with a high-quality portfolio of tin and gold
projects in the Tier 1 mining jurisdictions of
Tasmania
and
New South Wales, Australia
. The
Company is focussed on advancing its highly prospective portfolio through aggressive exploration
programs.
Neither 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 this
release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward
Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and "forward
looking information" under
applicable Canadian securities laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and
similar words or expressions, identify forward
looking statements or information. These forward
looking statements or information relate to, among other things: the development of the Company's
projects, including drilling programs and mobilization of drill rigs; future mineral exploration,
development and production; and completion of a maiden drilling program.
Forward
looking statements and forward
looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential
for TinOne and its business, and future exploration plans are based on management's reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management's
experience and perception of trends, current conditions and expected developments, and other
factors that management believes are relevant and reasonable in the circumstances, but which
may prove to be incorrect. Assumptions have been made regarding, among other things, the price
of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of
exploration and development; the estimated costs of development of exploration projects; TinOne's
ability to operate in a safe and effective manner and its ability to obtain financing on reasonable
terms.
These statements reflect TinOne's respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward
looking
statements or forward-looking information and TinOne has made assumptions and estimates
based on or related to many of these factors. Such factors include, without limitation: the
Company's dependence on early stage mineral projects; metal price volatility; risks associated with
the conduct of the Company's mining activities in
Australia
; regulatory, consent or permitting
delays; risks relating to reliance on the Company's management team and outside contractors;
risks regarding mineral resources and reserves; the Company's inability to obtain insurance to
cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding
the failure to generate sufficient cash flow from operations; risks relating to project financing and
equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of
reserves and resources, metallurgical recoveries and capital and operating costs of such projects;
contests over title to properties, particularly title to undeveloped properties; laws and regulations
governing the environment, health and safety; the ability of the communities in which the Company
operates to manage and cope with the implications of COVID-19; the economic and financial
implications of COVID-19 to the Company; operating or technical difficulties in connection with
mining or development activities; employee relations, labour unrest or unavailability; the
Company's interactions with surrounding communities and artisanal miners; the Company's ability
to successfully integrate acquired assets; the speculative nature of exploration and development,
including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts
of interest among certain directors and officers; lack of liquidity for shareholders of the Company;
litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management
discussion and analysis. Readers are cautioned against attributing undue certainty to forward
looking statements or forward-looking information. Although TinOne has attempted to identify
important factors that could cause actual results to differ materially, there may be other factors that
cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not
assume any obligation, to update these forward
looking statements or forward-looking information
to reflect changes in assumptions or changes in circumstances or any other events affecting such
statements or information, other than as required by applicable law.
SOURCE
TinOne Resources Corp.
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For further information:
and to sign-up to the mailing list, please contact: Chris Donaldson,
Executive Chairman, Tel: +1.604.364.2215, Email: [email protected]
CO: TinOne Resources Corp.
CNW 08:00e 23-NOV-22