Arctic Hunter Enters into Agreement to Acquire the Dinorwic GOLD Property Situated Near Dryden, Ontario
ARCTIC HUNTER ENERGY INC.
Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
September 30th, 2020 TSX-V Trading Symbol: AHU
ARCTIC HUNTER ENTERS INTO AGREEMENT TO ACQUIRE THE DINORWIC GOLD PROPERTY SITUATED
NEAR DRYDEN, ONTARIO
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VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX -V: AHU) (“ Arctic Hunter ” or the “ Company”), is
pleased to announce that, pursuant to an agreement dated September 29, 2020 with an arm ’s length
vendor, the Company has agreed to purchase a 100% interest, subject to a 2% net smelter returns
royalty (“NSR”), in the Dinorwic Gold Property (14,800 ha) , by paying $60,000 and issuing 4, 000,000
shares of the Company , conditional on TSX Venture Exchange acceptance and the negotiation of a
suitable financing. The Dinorwic Gold Project is a district scale gold property with the potential for the
discovery of high-grade gold located near Dryden, Ontario, Canada (the “Property”). The District Scale
gold property is easily accessible via all- weather-roads, an d has easy access to the Trans -Canada
Highway, related power and rail infrastructure, and has a close proximity to several communities,
including Dryden, Ontario. Exploration activities for the entire project area are expected to be fully
permitted for 2020.
A NI-43-101 compliant technical report on the Dinorwic Gold Property (the “Technical Report”) was
prepared jointly by Colin Bowdidge, PHD. P. Geo and Derrick Strickland, P.Geo . The Technical Report
provides a comprehensive description of the D inorwic Gold Property including previous work, geology
and mineralization and also makes recommendations for further work on the Property. A copy of the
Technical Report will be filed on the SEDAR website at www.sedar.com., in the near future. No finder’s
fees are payable in connection with the transaction.
Trans Canada Gold Project/The Dinorwic Gold Property -District Scale Gold Target
The Dinorwic Property consists of 741 non- surveyed contiguous mineral cell claims totaling 14,880
hectares located within the Kenora Mining Divisi on of Ontario. The P roperty is located within the
Wabigoon Greenstone Belt, which also contains the Thunder Lake Gold deposit and the Goldlund Gold
Deposit. The Property contains a number of large sh ear zones containing quartz carbonate veins,
pyrite and arsenopyrite, underlain by mafic volcanics with felsic volcanics in the south. There is a large
regional scale iron-carbonate alteration within the property, which is considered to be similar to that of
the Red Lake Mining Camp. The regional scale iron -carbonate alteration within the Property is
associated with shear zones in iron-tholeiite and are prime targets for gold exploration.
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A number of exploration targets have been identified within the propert y based on their association
with regional alteration, known gold showings, shear zones, complex patterns and offsets in the
regional magnetic map as well as spatial association with regional structures. The figure below has
highlighted the eight initial gold exploration targets identified within the Property. (Map below).
Figure 1: Google Earth Map of Property outlined in black with gold exploration targets in red.
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Commented Michael Dehn, form erly of Goldcorp, “ Both Tim Twomey and I have reviewed mu ltiple
mineral belts across the Canadi an Shield and hav e identified what we feel is an ex emplary new gold
project that is highly prospective, and contains all the key elements to finding high-grade gold in
settings that are identical to the Red Lake Greens tone belt. We are recommending using the same
exploration and modelling techniques that have been successful for many gold companies operating in
the Red Lake District. The Dinorwic Property and structures provide district scale gold targets. The
Property access is excellent, with the Trans-Canada Highway bisecting multiple high priority targets in a
north-south direction, as well it has a close proximity to the large community of Dryden, Ontario . The
Company intends to reduce its exploration and set up costs, as compared to many other district scale
exploration targets being targeted in the province. We believe that with the acquisition of the Dinorwic
District Scale gold property and gold project, we are in the ideal geological setting for the hosting of
high-grade gold, having the Treasury Metals Goliath and Goldlund projects situated to the North of us,
and Kinross active to the west and several historical past producers to the west and south gives us
confidence that the regional system has the potential to be well endowed with gold mineralization.”
Colin Bo wdidge, P h.D., P.Geo., a Qualified Person as defined by National Instrument 43 -101, has
reviewed and approved of the technical information disclosed in the news release.
ABOUT ARCTIC HUNTER – GOLD MINERAL EXPLORATION /OIL AND GAS PRODUCTION
The Co mpany is a Canadian Gold and Mineral exploration and Oil & Gas Resource Development
Company, that is currently focused on acquiring and developing its’ District Scale Gold exploration
project in Ontario, and increasing its oil and gas production capabilities, and obtaining potential future
oil production revenues . The Company is focused on identifying , acquiring and financ ing gold
exploration properties and the ongoing development of mining and oil and gas assets primarily situated
in Canada, a safe resource exploration jurisdiction. The Company is currently reviewing a number of
District Scale gold min eral exploration property opportunities, and identifying low risk exploration
opportunities with potential for selective acquisitions , and the development of mini ng exploration
assets situated in these favorable resource jurisdictions. The Company has qualified senior exploration
management and Geological Mining teams of professionals, seasoned in gold production, field
exploration and drilling. The Company has the necessary manpower i n plac e to develop its natural
resource properties and manage its production properties. The Company is committed to minimizing
risk through the selective property acquisition s, and responsible exploration and develo pment of
mining, and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the
Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.