TRU Provides Update on Flagship Golden Rose Project
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TRU Provides Update on Flagship Golden Rose Project
Toronto, Ontario – October 22, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF, FSE:706)
(“TRU” or the “Company”) is pleased to provide an update on its flagship Golden Rose Project (“Golden Rose”).
In August 2024, the Company completed the granting of an exclusive option (the “ Option”) to Eldorado Gold
Corporation (“Eldorado”) to earn an 80% ownership interest in Golden Rose, strategically located along the gold
deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland (see news release s dated July
30, 2024 and August 22, 2024).
The financial backing of Eldorado, via the Option, is affording TRU the ability to undertake a detailed review of
the potential of Golden Rose. The claims that comprise Golden Rose were consolidated over several years, and
TRU is now conducting a project wide exercise to understand and update the discovery potential for gold and
other minerals across the 300 sq. km project area. The review will methodically apply geoscience and exploration
practices across the entire property package.
TRU CEO Steve Nicol commented: “TRU is shifting to a “big picture” perspective of Golden Rose viewing the
complete consolidated land parcels and claims as one entity to facilitate the development of an updated model of
mineralization potential for the entire property, aimed at optimising the discovery process. TRU is focused on
efficiently discovering the full gold and copper potential that may exist at Golden Rose.”
The objective of the initial step in this methodical process, designed in conjunction with Eldorado, is to extract
the maximum information and knowledge from existing project data which will be reassessed and verified, then
infilled and updated or improved where required. This work, which has already commenced, includes infill and
geochemical sampling, reinterpretation of magnetic survey data, prospecting, re-mapping, and re-examination of
drill core.
The wealth of information generated from this process will feed into preparation of a revised and refined
geological and structural site -wide model, which will be utilized to generate a pipeline of quality drill targets
across the property for prioritization and drilling.
While it is expected that this rigorous and methodical assessment will result in the identification of multiple targets
across the property, it is initially being focused on the northeast-trending ‘exploration fairway’ between the Mark’s
Pond zone and the Rich House zone (7.5km long x up to 2kms wide; Figure 1). Initial targeting in this area is
expected to be completed by early 2025 with drilling planned to commence immediately thereafter.
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Figure 1: Initial Exploration Fairway at Golden Rose
In parallel, and as previously announced, (see news release July 16 , 2024), the Company has been running a
copper and critical minerals focused exploration program across Golden Rose. Results from this program will be
reported when work is complete, and all assay results have been received.
The scientific and technical information disclosed in this news release has been prepared and approved by Joel
Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person as defined in NI 43-101.
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. The company’s flagship project is the Golden Rose Project a
regional-scale 300.25 km2 land package in Central Western Newfoundland (includes a 33.25 km 2 package of
claims over which TRU has an option with TSX -listed Quadro Resources to acquire up to an aggregate 65%
ownership) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear
Zone, directly between Calibre Mining’s Valentine Gold Project and AuMEGA Metals’ Cape Ray Gold Project.
TRU is currently focused on efficiently discovering the full gold and copper potential that may exist at Golden
Rose.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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For further information about TRU, please contact:
Steve NICOL
CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
X (formerly Twitter): https://twitter.com/TRUMetals
YouTube: https://www.youtube.com/@TruMetalsCorp
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp/
Instagram: https://www.instagram.com/TRUMetals/
Facebook: https://www.facebook.com/TRUMetals/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior
Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the
exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward -looking statements, including those relating to exploration and
drilling plans at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, the
Company’s exploration programs and results, and commodities prices 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 adjacen t 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 at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and
base metals prices; volatility in economic conditions and financial markets; and 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 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the
contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.