Trius to Acquire Drill-Ready Twilite GOLD Project Near Moosehead GOLD Project
TRIUS TO ACQUIRE DRILL-READY TWILITE GOLD PROJECT
NEAR MOOSEHEAD GOLD PROJECT
Fredericton, New Brunswick – October 14, 2020 – Trius Investments Inc. (TSXV: TRU) (“Trius” or
the “Company”) is pleased to announce that it has entered into a binding letter of intent dated October 13,
2020 (the “LOI”) with GBC Grand Exploration Inc. (the “Vendor”).
Pursuant to the LOI, the Company will indirec tly purchase 65 mineral claims located in Central
Newfoundland known as the Twilite Gold Project (“Twilite”), along with all related permits and technical
data (collectively, the “Purchased Assets”).
Twilite
Twilite consists of 65 units cove ring 1,625 hectares and expands the Newfoundland Gold Exploration
segment of Trius’ investment portfolio (“NL Gold ”), following Trius’ completed acquisition of the
Gander West Property as announced on September 21, 2020, and the Toogood Arm Property acquisition
as first announced on September 24, 2020, which is anticipated to close shortly.
Trius President and CEO Joel Freudman commented : “We’re excited to acquire Twilite, which nicely
aligns with our previously communicated strategy of acquiring a more advanced exploration-stage asset
in the Central Newfoundland Gold Belt at competitiv e commercial terms. Twilite has some promising
historical exploration results and is in the vicinity of other large gold discoveries, which we believe bodes
well for Twilite’s investment potential. This will especially be the case if we decide to commit follow-on
capital to Twilite by engaging skilled consultants to carry out exploration work that can enhance Twilite’s
value, whether for further development or resale.”
Twilite is considered to be associated with a low sulphidation gold system and shares many
characteristics with Sokoman Minerals Corp.’s Moosehead Gold Project, which is located approximately
30 kilometres (km) northeast of Twilite. The Mooseh ead Gold Project has yielded promising drill hole
intervals including 11.9 metres (m) of gold (Au) at 44.96 grams per tonne (g/t). (source: Sokoman
Minerals Corp. website – Moosehead Gold Project page)
Twilite is also located approximately 110 kilometr es (km) northeast of Marathon Gold Corporation’s
Valentine Gold Project, which has one of the larg est undeveloped gold resources in Atlantic Canada,
including estimated proven and probable mineral r eserves of 1.87 million ou nces Au (from 41.05 million
tonnes (t) of ore grading 1.41 g/t Au). (source: Ma rathon Gold Corporation website – Valentine Gold
Project page)
Twilite Gold Project Regional Location
Twilite has previously been explored but not thor oughly followed up, with the most recent notable
program being carried out in 2003 by Altius Res ources Inc. (“Altius”). Highlights of historical
exploration including that of Fort Knox Gold Resources Inc. and Altius included:
Discovery Prospect - selected grab samples containing visibl e gold returned values up to 202 g/t
Au in a zone of quartz veining and silicification; channel samples returned 3.48 g/t Au and 5.3 g/t
Au in a contiguous 1.0 m sample across the widest portion of the vein.
Spring Pit Prospect – diamond drill hole TL-99-10 intersected 5.1 g/t Au over 5.8 m, from 14.2
m to 20 m depth.
Trius has not verified the historical assay results cont ained in this press release and is not relying on them
as current mineral resources or mineral reserves. Note that grab and channel samples and drill hole results
are select samples and are not necessarily representa tive of mineralization on Twilite. The diagrams and
technical information herein relating to Twilite ha ve been supplied by the Ve ndor and have not been
independently verified by Trius. Readers are cau tioned that these potential grades are conceptual in
nature; there has been insufficient exploration by the Company or its qualified person at Twilite to define
a mineral resource or mineral reserve; and it is uncer tain whether further exploration will result in these
targets being delineated as a mineral resource or mineral reserve.
Letter of Intent
Pursuant to the LOI, the Vendor will receive th e following consideration for the Purchased Assets: (i) the
issuance by Trius of 1,435,000 common shares in the capita l of Trius (each, a “Trius Share”) at a deemed
price of $0.25 per Trius Share; (ii) the payment by Tr ius’ wholly-owned subsidiary (the “Subsidiary”) to
the Vendor of $100,000 cash; and (iii) the granting by th e Subsidiary to the Vendor of a 1.0% net smelter
returns royalty from any future mineral production at the Twilite, of which 0.5% can be repurchased by
the Company for $1,000,000. Twilite is currently subject to a 2.0% net smelter returns royalty owing to
prior owners, of which 1.0% can be repurchased for $1,000,000.
Further, the Vendor will be issued an additional 500 ,000 Trius Shares if the Company defines at least
500,000 ounces of Au or Au-equivalent in the inferred category in a mineral resource estimate for Twilite
and/or claims acquired by the Purchaser within 5 km of Twilite, and a further 500,000 Trius Shares if the
Company defines a further 500,000 ounces of Au or Au -equivalent in such a mineral resource estimate.
All Trius Shares issuable under the LOI are subject to a hold period expiring four months and one day
from the date(s) on which Trius Shares are issued.
Upon acquiring the Purchased Assets, Trius expects that any incremental investment in Twilite via
exploration work will be carried out by Barry Gr eene, a geoscientist based in Newfoundland who has
almost 30 years of experience and who is a sharehol der of the Vendor. Mr. Greene has previously worked
as a geological consultant, including with Amec Foster Wheeler and Wood Plc, and with numerous public
companies, including approximately 16 years as E xploration Manager and then Vice-President of
Exploration with Celtic Minerals Ltd.
The acquisition of the Purchased Assets remains s ubject to customary conditions, including that the
parties enter into a definitive agreement to supe rsede the LOI by October 30, 2020. The transaction will
be completed as soon as is practicable thereafter ba sed on governmental claims transfer processing times,
and remains subject to regulatory approval by the TSX Venture Exchange.
The Purchased Assets will be a third mineral explora tion holding within NL Gold. Trius is acquiring the
Purchased Assets as a passive investment, and does not intend to op erate Twilite directly. However, Trius
may engage third party technical and exploration consultants to advance Twilite and the Company’s other
mineral property holdings so as to increase their monetization potential.
Qualified Person
Dean Fraser, P.Geo. is a qualified person as defined by the Ca nadian Securities Administrators’ National
Instrument 43-101, and has reviewed and approved th e contents and technical disclosures in this press
release. Mr. Fraser is a technical advisor to the Company and owns securities of the Company.
About Trius Investments Inc.
Trius seeks unique value-creation opportunities, curren tly increasing its exposure to the precious metals
sector by assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt.
Trius’ common shares trade on the TSXV under the symbol “TRU”.
Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing
venture capital markets advisory services and propriet ary financing. Resurgent works with promising
public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
President & CEO
Trius Investments Inc.
Phone: (647) 880-6414
Cautionary Statements Regarding Forward-Looking Information
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.
Information and links in this press release relatin g to Sokoman Minerals Corp. and Marathon Gold
Corporation are from sources believed to be reliable, but that have not been independently verified by
Trius. These links are included in this press relea se as inactive textual references for reference purposes
only and the information on or connected to these webs ites is not part of, or incorporated by reference
into, this press release.
This press release contains certain forward-looking statements, including those relating to acquiring,
exploring, and monetizing Twilite and the Company’s other mineral exploration investments in
Newfoundland. These statements are based on numerous assumptions regarding the Purchased Assets that
are believed by management to be reasonable in the ci rcumstances, and are subject to a number of risks
and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties
is not necessarily indicative of mineralization hosted on Twilite; the exploration or monetization potential
of the Purchased Assets and specifically Twilite; ch allenges in identifying, structuring, and executing
additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral
exploration activities and investments in the mineral exploration sector; volatility in financial markets,
economic conditions, and precious metals prices; a nd those other risks described in the Company’s
continuous disclosure documents. Actual results may differ materially from results contemplated by the
forward-looking statements herein. Investors and othe rs should carefully consider the foregoing factors
and should not place undue relianc e on such forward-looking statements. The Company does not
undertake to update any forward-looking statements herein except as required by applicable securities
laws.