Trans Canada GOLD Corp. Enters into a Strategic Option Agreement to Acquire 100% of the Crippleback Lake GOLD Project IN Central Newfoundland from Sokoman Minerals Corp. ____________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
June 3rd, 2021 TSX-V Trading Symbol: TTG
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TRANS CANADA GOLD CORP. ENTERS INTO A STRATEGIC OPTION AGREEMENT TO ACQUIRE 100% OF THE
CRIPPLEBACK LAKE GOLD PROJECT IN CENTRAL NEWFOUNDLAND FROM SOKOMAN MINERALS CORP.
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VANCOUVER, B.C. – Trans Canada Gold Corp . (TSX-V: TTG) (“Trans Canada ” or the “Company ”), is
pleased to announce that the Company has entered into an option agreement (the “Option Agreement”)
with Sokoman Minerals Corporation (TSX-V: SIC) (“Sokoman), whereby Trans Canada Gold Corp. can
earn a 100% interest, subject to a 1% net smelter returns royalty (“NSR”), in the Crippleback Lake Gold
Property (3,025 ha or 7,475 acres), by issuing a total of 1,250,000 shares of the Company, cash and work
commitments totaling $600,000 over a 4 year period . The Crippleback Lake Gold Project covers the
northeastern extension of the regional scale Valentine Lake fault zone and is situated in the same
geological units that host high grade gold mineralization at Marathon’s Gold’s Valentine Lake gold
deposit. The property is situated in the gold prolific and rapidly emerging Central Newfoundland Gold
Belt, and is ideally situated near on trend with Sokoman’s flagship Moosehead High-Grade Gold project
and discovery which is now in the midst of Phase 6 of a 50,000- metre (Phase 6) drill program.
The Crippleback Lake Gold property is located in proximity to the Trans-Canada highway in north-central
Newfoundland, is easily accessible by a network of secondary logging roads and is only a short drive from
assaying and diamond drilling services in Springdale, Newfoundland.
Commented Tim Coupland, “ By acquiring this strategically located block of gold claims in Central
Newfoundland in this present-day gold rush, our specialized Technical Advisory Team of gold experts are
extremely excited about optioning and forming a strategic alliance with Sokoman Minerals and
performing detailed exploration and drilling In Newfoundland. This is a remarkable opportunity for both
world class gold teams of exploration geologists who can now perform exploration work , collaborate
and share years of underground mining drilling knowledge , while completing exploration and drilling
between Marathon Gold’s Valentine Lake gold deposit and shear zone and Sokoma n’s 100% wholly
owned Moosehead Gold p roject and discovery . The Company will be submitting exploration permit
applications immediately with the Government of Newfoundland and Labrador. The Sokoman Minerals
Corp. Crippleback Lake Gold option is another new addition of premier gold exploration assets, that has
been added to our growing gold asset portfolio situated in Canada.”
Tim Froude, President and CEO of Sokoman Minerals Corp. states: “We are very pleased to partner with
Trans Canada and their experienced gold group at Crippleback Lake and we will assist in whatever way
we can towards the advancement of the Property. Histo rically the area has attracted explorers for the
renowned base metal potential of Central Newfoundland, today however, the focus has shifted in a
monumental way to the gold potential in the region and Crippleback is exquisitely positioned in one of
Canada’s hottest exploration camps. Crippleback shares many of the attributes of the advanced stage
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Valentine Lake Project (Marathon Gold) including the crucial structural corridor (Rogerson Lake
Conglomerate), as well as the presence of the Crippleback Lake Quartz Monzonite, the on- strike
equivalent of the Valentine Lake Intrusive Suite, host to Marathon’s Valentine Lake gold deposits.
Sokoman shareholders will receive the benefit of an experienced team advancing the project that we
were not advancing as rapidly as the property deserves. We look forward to Trans Canada Gold’s success
on the Property”.
CRIPPLEBACK LAKE GOLD PROJECT – HIGHLIGHTS:
• 121 mineral claims (3025 ha or 7475 acre) fully road accessible from the TransCanada Highway
with numerous secondary logging roads internal to the claims.
• Covers a 13 -kilometre strike length of the gold rich Valentine Lake Structural Zone midway
between Marathon Gold’s Valentine Lake Project and Sokoman Minerals high -grade gold
Moosehead Project.
• Robust Gold in lak e sediment and till samples, with multiple till samples exhibiting delicate
(proximal to source) gold grains as well as angular float samples assaying up to 1.7 g/t gold
• All previous exploration efforts focused on base metals
• Exploration Permits pending
SUMMARY TERMS OF AGREEMENT
Trans Canada can acquire 100% of Crippleback Lake by issuing 1,2 50,000 common shares of Trans
Canada Gold, cash and work commitments totalling $600,000 over a 4-year period. Sokoman will retain
a 1.0 % net smelter return royalty on Crippleback Lake, with Trans Canada Gold having the right to buy
down 0.5% of the royalty for 1,000,000
The Option agreement, including the issuance of Trans Canada Gold Shares, is subject to TSX Venture
Exchange (“Exchange’) approval. The Trans Canada share will be subject to a statutory hold period.
Option Payment Summary:
• $10,000 cash and 250,000 common shares of the Company to Sokom an within 10 days of the
effective date, subject to a six-month escrow period form the Effective Date following Exchange
approval: on the Exercise Date, granting Sokoman a net smelter royalty to the buydown of 0.5%
for 1,000,000 on the terms and conditions set forth in the Option Agreement.
• $15,000 cash, and $50,000 in property expenditures and the issuance of 250,000 common shares
to Sokomon on or before the first anniversary of the Effective Date
• $25,000 Cash, and $100,000 in property expenditures and the issuance of 250,000 common
shares to Sokoman on or before the second anniversary of the Effective Date
• $25,000 Cash and $ 150,000 in property expenditures and the issuance of 250,000 common
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shares to Sokoman, on or before the third anniversary of the Effective Date.
• $25,000 cash and $200,000 in property expenditures and the issuance of 250,000 common shares
to Sokoman on the Property on or before the fourth anniversary of the Effective Date.
GOLD CROW DISTRICT SCALE GOLD PROJECT - GOLD, COPPER-NICKEL-COBALT PROPERTY
The Gold Crow Project i s located in a 700 -kilometre-long belt across the Canadian Shield from Lake
Winnipeg to the James Bay lowlands, that is well endowed with gold. Total gold produced from this belt
is 36 million ounces. The north trend of the property covers a 28 km length of mafic volcanics with
multiple iron formation horizons ideal for hosting gold. Drill holes with gold intercepts are scattered
along the length of the trend, but seem to be concentrated in a 3.5-kilometer-long area referred to here
as the Jackpot Zone. The Jackpot Zone situated on the Gold Crow project, was last explored in the 2010-
2012 exploration period by Jiminex Inc. The drill results include Hole MIS 11 -03, which returned 5.44 -
meter core length of 10.86 g/t Au, including 2.40 meters of 18.26 g/t Au, which in turn included 0.30
meter of 116.0 g/t Au.
The Nickel Crow Zone, located on the north trend of the property, was explored by Sturdy Mines in 1985.
Their program was successful in the search for copper -nickel with their bes t assay indicating 1.22%
combined Cu-Ni across 15 feet. Trench samples consistently averaged 0.66% Cu (Copper), 0.25% Ni
(Nickel) and 0.12% Co (Cobalt).
The Gold Crow district scale Property is recognized to host significant gold and magmatic copper-nickel-
cobalt potential, and warrants a major, multiyear exploration program focused on drilling in and on strike
with the Jackpot Zone and the Nickel Crow Zone . Property wide till sampling, analysis and gold grain
counting, prospecting, stripping, geological mapping and drilling new high -grade targets as they are
defined is planned . Lithogeochemical studies to assess magmatic copper- nickel-cobalt and VMS
potential will also be carried out.
TRANS CANADA GOLD PROJECT– THE DINORWIC GOLD PROPERTY
The Trans-Canada Gold Property consists of 741 non- surveyed contiguous mineral cell claims totaling
14,880 hectares located within the Kenora Mining Division of Ontario. The property is located within
the Wabigoon Greenstone Belt, which also contains the Goliath Gold deposit and the Goldlund Gold
Deposit. The Property contains a number of large shear 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 Carbonate alteration within the property associated with shear
zones within iron -tholeiite are prime targets fo r gold exploration. The property has excellent access,
with the Trans-Canada highway bisecting multiple high priority targets in a north-south direction, as well
as close proximity to the large community of Dryden, Ontario. The property has access to first class
infrastructure, with close proximity to a number of rail corridors and power lines. A number of gold
exploration targets have been identified within the property based on their association with regional
alteration, known gold showings, shear zone s, complex patterns and offsets in the regional magnetic
map as well as spatial association with regional structures that has the potential to be well endowed
with gold mineralization.
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Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined by Natio nal Instrument 43 -101, has
reviewed and approved of the technical information disclosed in the news release.
ABOUT TRANS CANADA GOLD CORP. – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a Canadian Gold and Mineral Exploration and Oil & Gas Resource Development Company
that is currently focused on developing both of its large District Scale Gold exploration projects situated
in Northwestern Ontario, increasing its production capabilities, and obtaining potential future oil
production revenues. The Company identifies, acquires and finances the acquisition of gold exploration
properties and the ongoing development of mining and oil and gas assets primarily situated in Canada, a
time-honored safe mineral exploration jurisdiction. The Company currently has two 100% wholly-owned
District Scale gold mineral exploration properties in its asset portfolio , and is continually identifying low
risk exploration opportunities through sele ctive acquisitions and development of mining exploration
assets situated in favorable resource jurisdictions. The Company has qualified Senior exploration
management and Geological Mining teams of professionals, seasoned in exploration production, field
exploration and drilling. The Company has the necessary manpower in place to develop its natural
resource properties and manage its production properties. The Company is committed to minimizing risk
through selective property acquisitions, and responsible ex ploration and development of mining, and
petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
www.transcanadagold.com
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.