Drilling is ongoing and mineralization remains open for expansion.
#2300 – 1177 West Hastings Street, Vancouver, BC, Canada, V6E 2K3
Ph. 604-484-1233 / Fx. 604-408-7499 / Website: www.velocityminerals.com
NR‐17‐05 August 21, 2017
Velocity Drilling Intersects 74 meters @ 2.35g/t gold
including 39 meters @ 4.11 g/t gold
at the advanced Rozino Gold Project, Southeast Bulgaria.
Drilling is ongoing and mineralization remains open for expansion.
Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC.H) (“ Velocity” o r t h e “Company”)
announces that it has received la boratory results for the first two drill holes ( Table 1) at the Company’s
advanced Rozino gold project (“ Rozino” or the “ Project”), located within the Tintyava prospecting and
exploration licence area in southeastern Bulgaria.
“ T h e s e r e s u l t s a r e a m o n g t h e b e s t g r a d e s e v e r r e t u r n e d f r o m t h e project and the drill holes clearly
demonstrate the potential for th ick, high‐grade gold mineraliza tion between the historical drill fences.”
stated Keith Henderson, Velocity’s President & CEO. “The Company’s exploration model at Rozino is that
gold mineralization is controlled by northwest‐trending, steeply dipping structures. Most historical holes
were drilled vertically or angled parallel to what is believed to be controlling structures; neither of these
previous approaches adequately tested mineralization.”
Mr. Henderson continued, “The initial phase one program will co nsist of nine holes in total and
approximately 2,000m. Four 50m s tep‐outs will investigate the continuity of the newly discovered high‐
grade mineralization. An additional three holes will be focused on h i g h‐ g r ade t r en c h samp l e s l oc at ed
peripheral to Rozino where previous drill testing has been absent or ineffective.”
Table 1: Drill Results from Velocity Drill Holes at Rozino.
Drillhole From (m) To (m) Thickness (m)^
Gold (g/t)
Uncut
Gold (g/t)
Top cut*
RDD‐001 62.85 106.9 45.05 2.04 2.04
and 120.9 145.9 25.00 2.04 2.04
RDD‐002 41.8 99.8 58.00 1.04 1.04
and 109.8 183.8 74.00 3.81 2.35*
including 117.8 156.8 39.0 0 6.88 4.11*
^ The current exploration model has not had sufficient drill testing to be able to determine true thickness
of mineralization.
* The histogram of drill results from the current program does not contain sufficient information to define
a suitable top‐cut grade. The Company’s Qualified Person has e xercised judgement and experience in
applying a top‐cut of 40g/t to this intersection.
Velocity Minerals Ltd. 2 August 21, 2017
NR17‐05 Continued
Figure 1: Section showing historical drill holes and Velocity’s drill hole number RDD‐002. Intersections greater
than 0.5 g/t gold are shown on historical drill holes. Intersections of gold mineralization are labelled.
Figure 2: Section showing historical drill holes and Velocity’s drill hole number RDD‐001. Intersections greater
than 0.5 g/t gold are shown on historical drill holes. Intersections of gold mineralization are labelled.
Velocity Minerals Ltd. 3 August 21, 2017
NR17‐05 Continued
Figure 3: Map showing the location of historical drill holes and Velocity drill holes discussed in this news release.
Historical drill holes are dominantly drilled vertically or angled toward the northwest. Velocity drill holes are
angled toward the northeast. The locations of sections (Figure 1 and Figure 2) are also shown.
Velocity Minerals Ltd. 4 August 21, 2017
NR17‐05 Continued
Quality Assurance / Quality Control
The work program at Rozino was designed and is supervised by Stuart A. Mills, CGeol, the Company's Vice‐
President Exploration, who is responsible for all aspects of the work, including the quality control/quality
assurance program. On‐site personnel at the project rigorously collect and track samples which are then
security sealed and shipped to ALS Global laboratory in Romania. Samples used for the results described
herein are prepared and analyzed by fire assay using a 30‐gram charge in compliance with industry
standards. Field duplicate samples, blanks and independent controlled reference material (standards) are
a d d e d t o e v e r y b a t c h . D r i l l i n t e r s e c t i o n s i n t h i s n e w s r e l e a s e are reported using a 40g/t top‐cut and
maximum 2 meters dilution.
Qualified Person
The technical content of this release has been approved for disclosure by Stuart A. Mills, BSc, MSc, CGeol,
a Qualified Person as defined by National Instrument 43‐101 and the Company’s Vice President
Exploration. Mr. Mills is not independent of the Company.
About Velocity Minerals Ltd.
Velocity is a gold exploration and development company focussed on eastern Europe. The Company’s
management and board includes mining industry professionals wit h over 100 years of combined
experience spanning Europe, Asia, and the Americas as employees of major mining companies as well as
founders and senior executives of junior to mid‐tier public companies. The team's experience includes all
aspects of mineral exploration, resource definition, feasibility, finance, mine construction and mine
operation as well as a track record in managing publicly listed companies and bringing real value to
shareholders.
The Company’s portfolio of advanced gold exploration assets is currently in Bulgaria, which is a member
of the European Union (2007) and an attractive destination for mining investment. The country’s mining
law was established in 1999 and updated in 2011. Mining royalties are low and compare favourably with
more established mining countries like Canada, Peru and Chile. Bulgaria also boasts an exceptionally low
corporate tax rate of only 10% and the country’s education syst em is excellent with good availability of
experienced mining professionals in a favourable cost environment. Foreign mining companies are
successfully operating in Bulgaria.
Local knowledge and experience are essential components of mining investment in a foreign jurisdiction.
Velocity Minerals has entered into a number of option agreements with Gorubso Kardzhali A.D., an
established and respected mining company in Bulgaria. Gorubso operates the underground Chala Gold
Mine (2006) and the Kardzhali Carb on In Leach (CIL) processing plant (2011), which produces gold dore.
Gorubso is the first and only company in Bulgaria to have secured a permit for cyanide‐related processing
of gold ores. Velocity’s management has a long‐standing relati onship with Gorubso as well as significant
previous experience in Bulgaria and elsewhere in the region.
On Behalf of the Board of Directors
"Keith Henderson"
President & CEO
For further information, please contact: Keith Henderson
Phone: +1‐604‐638‐3456
E‐mail: [email protected]
Neither the 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.
Velocity Minerals Ltd. 5 August 21, 2017
NR17‐05 Continued
CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes certain
“forward‐looking statements” under applicable Canadian securities legislation. Forward‐looking statements include,
but are not limited to, statements with respect to: future exploration and testing carried out on the Tintyava
property; use of funds; and the future business and operations of Velocity. Often, but not always, forward looking
s t a t e m e n t s c a n b e i d e n t i f i e d b y w o r d s s u c h a s “ p r o f o r m a ” , “ p l ans”, “expects”, “may”, “should”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words
including negative variations thereof, and phrases that refer t o certain actions, events or results that may, could,
would, might or will occur or be taken or achieved. Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual resu lts, performance or achievements of the Company
t o d i f f e r m a t e r i a l l y f r o m a n y f u t u r e r e s u l t s , p e r f o r m a n c e o r a chievements expressed or implied by the forward‐
looking information. Such risks a n d o t h e r f a c t o r s i n c l u d e , a m ong others, operating and technical difficulties in
connection with mineral exploration and development and mine de velopment activities for the Tintyava property,
including the geological mapping, prospecting and sampling programs for the projects, the fact that the Company’s
interests in the Tintyava proper ty is only an option and there is no guarantee that the interest, if earned, will be
certain, actual results of exploration activities, including the program, estimation or realization of mineral reserves
and mineral resources, the timing and amount of estimated futur e production, costs of production, capital
expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water
and other materials, requirements for additional capital to fund the Company's business plan, future prices of
precious metals, changes in general economic conditions, change s in the financial markets and in the demand and
market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants,
equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry,
delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or
financing or in the completion of development or construction a ctivities, changes in laws, regulations and policies
affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance
coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related
to joint venture operations, and risks related to the integrati on of acquisitions, as well as those factors discussed
under the heading. "Risk Factors" in the Company's annual management's discussion and analysis and other filings
of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile
on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward lo oking information. The Company undertakes no
obligation to update any of the forward‐looking information in this news release or incorporated by reference
herein, except as otherwise required by law.
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