Closing of the Acquisition of the Alicia Project
Monterey Minerals Closes Acquisition of the
Alicia Project in the Philippines
TORONTO, ON – August 13, 2020 - Monterey Minerals Inc. (the “Company” or “ Monterey”)
(CSE: MREY and FSE :2DK) is pleased to announce that it has closed the acquisition of Greater
Arc Pty Ltd (“ Greater Arc”), which owns the Alicia high- grade gold and base metals project in
Alicia Municipality, Philippines (“ Alicia Project”) (see press releases dated February 11, 2020
and May 22, 2020).
Greater Arc was purchased from Greater Arc Resources Limited (the former “ParentCo”) for 54
million common shares of Monterey , which represents 35.4% of the issued and outstanding
shares of Monterey, and becomes the Company’s largest shareholder. In connection with this
transaction, the Company also paid a finders fee of 5 million common shares.
As per the agreement between the parties, Parent Co will not initiate the process of transferring
their block of Monterey shares to their shareholders for 180 days from the closing.
Monterey will now allocate the majority of the net proceeds to its recently closed
oversubscribed private placement to exploration programs in the Philippines ( see press
releases dated July 9, 2020 and July 28, 2020).
Alicia Project Highlights:
• Greater Arc has identified a system of twelve veins hosting high grade gold and base
metal mineralization.
• The mineralized veins are up to 3.8 m wide and up to 1.7 km in length, with a combined
strike length in excess of 11 km.
• Previous fieldwork at the Alicia Project included detailed geological mapping,
geochemical sampling and limited drilling.
• The twelve veins generally trend northwest-southeast and are grouped into three main
vein structures:
o Sandi Vein in the east
o Baloy Vein in the central portion of the tenement
o Pamaraw-Sumihig Vein to the west
• Several semi-parallel subsidiary veins also occur.
• Veins host native gold, silver, galena, sphalerite, and pyrite minerals.
• High grade samples from shallow drilling into the Baloy Vein include:
o 1.2m of 116 g/t Au, 1,263 g/t Ag, 6.3% Cu, 6.5% Zn, and 47.9% Pb
o 1.5m of 40.9 g/t Au, 437 g/t Ag, 1.1% Cu, 3.6% Zn, and 62.9% Pb
• Field Work on the Pamaraw-Sumihig Vein yielded:
o a drill intersection of 1.5 m of 13.86 g/t Au, 181g/t Ag and 4.8% Cu
o a grab sample returning 7.51 g/t Au, 55.2 g/t Ag and 1.76% Cu
• The Alicia Project is situated within a Declared Mineral Reservation determined by the
Mines and Geosciences Bureau (MGB) in 1995 and is on a granted Exploration Permit.
• The Project is accessible by sealed roads, is proximal to power and towns, is 10 km away
from a port facility at Malangas, and 60 km from an airport at Pagadian City.
2020 Exploration Plan Highlights:
• Exploration drilling along strike down to a depth of 300 metres to:
o Discover the source of the veins at surface and test the geologist’s premise that
the vein systems are merging at depth
o Define the down -dip continuity/extension of the vein systems, grade
distribution, consistency and vein characteristics
o Check consistency of zone width and grade at depth below the near surface
oxidation zone
o Begin the groundwork for JORC or NI 43-101 maiden resource
• Priority Drill targets include:
o Pamaraw- Sumilhig Area (the “PSA”) (see Figure 1)
o Baloy Vein (see Figure 2)
• Ground and downhole IP surveys to define possible extent of mineralization
• Extended geological mapping, trenching and sampling program
https://montereyminerals.com/wp-content/uploads/2020/08/monterey-minerals-corporate-
presentation-august-2020.pdf
Qualified Person
The technical information in this press release has been reviewed and approved by Martin Dormer, a
consultant to the Company, who is a Qualified Person as defined by NI 43-101. Martin is a member
of the Australian Institute of Mining and Metallurgy (AusIMM), the Australian Institute of
Geoscientists (AIG). He is a West Australian geologist with over 22 years’ experience and sufficient
experience of relevance to the styles of mineralization and types of deposits under consideration to
qualify as a Competent Person as defined by the 2012 Edition of the Joint Ore Reserves Committee
(JORC) Australian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves.
About Monterey Minerals Inc.
The Company owns 100% of the Alicia Project in the Alicia Municipality of the Philippines. The
Alicia Project is a system of multiple, high -grade gold and silver veins with base metals over a
strike length of greater than ten kilometres. The Company also owns the Cobalt Mountain
Property (the “Property”) in the Omineca Mining Division of British Columbia near the town of
Smithers. The Company’s NI 43 -101 technical report, available on SEDAR, notes historic
sampling on the Property that returned mineralized showings of g old, silver, copper, zinc and
cobalt. The Company also owns 877 sq. km. of prospective Pilbara Basin tenements on the
eastern flank of the Pilbara Basin in Western Australia, including a property that abuts Pacton
Gold’s tenement where gold-bearing conglomerates were identified.
For more information, contact investor relations at [email protected]
On Behalf of the Board of Directors,
James Macintosh,
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of this press release
This press release may include forward- looking information within the meaning of Canadian securities
legislation, concerning the business of the Company. Forward- looking information is based on certain
key expectations and assumptions made by the management of the Company. Although the Company
believes that the expectations and assumptions on which such forward-looking information is based on
are reasonable, undue reliance should not be placed on the forward- looking information because the
Company can give no assurance that they will prove to be correct. Forward- looking statements
contained in this press release are made as of the date of this press release. The Company disclaims any
intent or obligation to update publicly any forward- looking information, whether as a result of new
information, future events or results or otherwise, other than as required by applicable securities laws.