TRU Announces 2,000 Metre Drill Program at the Jacob’s Pond area of the Golden Rose Project
TRU Announces 2,000 Metre Drill Program at the Jacob’s Pond area
of the Golden Rose Project
Toronto, Ontario – August 4, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF ; FSE:706)
(“TRU” or the “Company”) is pleased to announce that an approximately 2,000 metre (m) diamond drill program
is underway at the Company’s flagship Golden Rose Project (“Golden Rose’’) l ocated in the Central
Newfoundland gold belt. The drilling will focus on the Jacob’s Pond area, where the Company recently completed
an extensive IP Survey to determine high-priority areas and targets.
Drilling has commenced with a plan to complete approximately 10 -12 diamond drill holes. The two key target
areas dubbed Jacob’s Main and Jacob’s Twi n (Figure 1) will form the basis of this initial drilling. These areas
have never been drilled before.
Drill Targets Rationale
• Mineralization can be directly correlated with the base of an extensive IP geophysical anomaly.
• Identification of approximately 7 5m section of creek bed containing numerous copper -gold ( Cu-Au)
bearing quartz veins and brittle fractures hosted by conglomerate. True thickness of the mineralized zone
is estimated at approximately 15-20m based on intermittent outcrops.
• Summer 2022 grab sampling results include 6 out of 21 samples grading from 1.10% Cu to 4.19% Cu
including one sample grading 3.42% Cu and 2.76 grams per tonne (g/t) Au. (Figure 2)
• Conglomerate host rocks also contain frequent secondary copper rich ( malachite) blebs after primary
chalcocite/bornite. Mineralization occurs within and near the sheared contact between conglomerate and
rhyolite
Barry Greene, VP of Property Development and Director of TRU, commented: “We have been diligently
completing geochemical, geological and geophysical surveys over the past year and now feel ready to test a
number of these targets where our combined data is leading us. Given the location of these targets along the Cape
Ray-Valentine Lake structural corridor, which hosts proven gold deposits on adjacent claims, we are delighted to
have broken ground.”
Figure 1 – Two Key Target Drilling Areas – Jacob’s Main and Jacob’s Twin
Figure 2 – 2022 Jacob’s Twin IP Chargeability Anomaly and Rock Samples
About Jacob’s Pond
The Jacob’s Main and Jacob’s Twin areas contains numerous coincident geological/geochemical/geophysical
anomalies over approximately four kilometers of extent , which forms part of the 20 k m structural trend on the
northwest side of Golden Rose. Only a small selection of these potential a nomalies will be targeted during this
drill campaign.
During TRU’s summer 2022 field program, while ground truthing a copper-gold-silver soil anomaly with
coincident IP anomaly on the Jacob’s Twin area, TRU’s geological team was excited to identify a heavily
mineralized section of a natural stream bed. This bedrock mineralized zone is located within 75m of the highest-
grade sample collected by TRU in 2021. The 2021 sample of very angular quartz vein float material contains
bornite and chalcocite and graded 14.3 g/t Au, 368.0 g/t silver (Ag), and 11.0% Cu. Additionally, several new
occurrences of similar mineralized angular float material have been unearthed. The 75m section of creek bed
contains several quartz vein swarms which contain variable thickness of vein material up to about 2m thickness.
The veins, hosted by a polylithic conglomerate, contain brittle fractures that have been infilled by common copper
minerals including bornite, chalcocite and chalcopyrite. Additionally, the sheared conglomerate contains highly
flattened clasts, some of which appear to be sulphide clasts with malachite coating the dull grey sulphide. This
sulphide is believed to be chalcocite. Samples have been selected for polished section for positive identification
of minerals and to assist with understanding the timing of mineralization . Several drill holes are proposed to
evaluate this mineralized zone, which plots on the base of a very strong IP anomaly that continues for many
hundreds of metres. To date, bedroc k sampling along trend/strike of this creek has uncovered copper
mineralization associated with conglomerate over approximately 200m.
This drill program is anticipated to take approximately 4 weeks to complete, and results will be released in batches
in the early fall.
Shareholder Meeting Results
The Company is also reporting voting results from the Annual & Special meeting held on July 21, 2022.
Shareholders approved all items of business, including electing each of the directors nominated by management,
namely, Joel Freudman, Barry Greene, Damian Lopez, Colin Sutherland and David Hladky. The shareholders also
approved: the reappointment of McGovern Hurley LLP, Chartered Professional Accountants, as auditors of the
Company for the ensuing year; the Company’s amended stock option plan; and a potential corporate name change.
The Company amended its stock option plan to align with the TSX Venture Exchange’s recently amended Policy
4.4 Security Based Compensation. A copy of the stock option plan was included in the Information Circular which
has been filed on SEDAR.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and
approved the technical contents of this press release. Mr. Greene is a director and officer of the Company and
owns securities of the Company.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long -term shareholder value, through
prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper
in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to
purchase 100% of the Golden Rose Project. Golden Rose is a regional -scale 236 km2 land package, including a
newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing
Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador
Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital
markets advisory services and proprietary financing. Resurgent works with promising public and pre -public
micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its
portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on
LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
https://twitter.com/corp_tru
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through
the Junior Exploration Assistance Program.
Cautionary Statements
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.
This press release contains certain forward -looking statements relating to exploration activities at Golden Rose.
These statements are based on numerous assumptions regarding Golden Rose, and the Company ’s exploration
plans, that are believed by management to be reasonable in the circumstances, 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 Golden Rose; the exploration potential of Golden Rose and the
nature and style of mineralization; risks inherent in mineral exploration activities; volatility in precious and base
metals prices; and those other risks described in the Company's continuous disclosure documents. Actual results
may differ materially from resul ts contemplated by the forward -looking statements herein. Investors and others
should carefully consider the foregoing factors and should not place undue reliance on such forward -looking
statements. The Company does not undertake to update any forward-looking statements herein except as required
by applicable securities laws.