Rozino Gold Project, Southeast Bulgaria.
1
NR-17-06 September 5, 2017
Velocity Drilling Intersects 84 meters @ 0.99 g/t gold
and 61 meters @ 1.47 g/t gold at the advanced
Rozino Gold Project, Southeast Bulgaria.
Vancouver, British Columbia – Velocity Minerals Ltd . ( TSXV: VLC) (“ Velocity” or the “ Company”)
announces that it has received laboratory results for two additional drill holes (Figure 1, 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. Velocity’s exploration target is near -
surface, potentially open pittable epithermal gold mineralization. Drilling at Rozino is ongoing with nine
drill holes completed to date (Figure 2) and mineralization remains open.
“The cross section shows three drill holes, each with 70 to 95 meters of near-surface, near-continuous
downhole mineralization at greater than 0.5g/t gold.” stated Keith Henderson, Velocity’s President & CEO.
“This is the first time in Velocity’s drill program that we can look at multiple drill holes on a single cross
section and the result is impressive.”
Figure 1: Drill Intersects from Velocity Drill Holes 1, 3 & 4 at Rozino. Results for Hole 1 were released previously.
NR17-06 Continued September 5, 2017
2
Table 1: Drill Results from Velocity Drill Holes 1,2, 3 & 4 at Rozino. Intersects are calculated using a 0.2 g/t gold
trigger, a minimum 0.5 g/t gold composite, and a maximum of 2 meters consecutive waste.
Results from Holes 1 and 2 are discussed in detail in previous news release (August 21, 2017).
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 39.00 6.88 4.11*
RDD-003 43.8 108.8 61.00 1.47 1.47
including 48.8 88.8 40.00 1.99 1.99
and 107.8 117.8 10 0.83 0.83
RDD-004 55.5 139.5 84.00 0.99 0.99
including 63.5 83.5 20.00 1.38 1.38
including 119.5 127.5 8.0 3.28 3.28
and 142.5 151.5 9.00 4.95 4.95
^ The current exploration model has not had sufficient drill testing to be able
to determine true thickness of mineralization.
* A top-cut of 40g/t was applied to an intersection in RDD-002.
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
added to every batch. Drill intersections in this news release are calculated using a 0.2 g/t gold trigger, a
minimum 0.5 g/t gold composite, and a maximum of 2 meters consecutive waste.
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.
NR17-06 Continued September 5, 2017
3
Figure 2: Location of Velocity’s drill holes. Holes completed are shown in black. Planned holes (subject to
change) are shown in blue. Gold intercepts shown on cross sections are replicated here. Results have been
returned for holes 1 through 4. A total of nine holes have been completed and drilling is ongoing.
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 professional s with 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 min eral 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 expl oration 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 system 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 optio n 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 Carbon 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
NR17-06 Continued September 5, 2017
4
of gold ores. Velocity’s management has a long-standing relationship 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]
Web: www.velocityminerals.com
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.
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
statements can be identified by words such as “p ro forma”, “plans”, “expects”, “may”, “should”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words
including negative variations thereof, and phrases that refer to 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 results, performance or achievements of the Co mpany
to differ materially from any future results, performance or achievements expressed or implied by the forward-
looking information. Such risks and other factors include, among others , operating and technical difficulties in
connection with mineral exploration and development and mine development 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 property 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 minera l resources, the timing and amount of estimated future 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 ad ditional capital to fund the Company's business plan , future prices of
precious metals, changes in general economic conditions, changes in the financial markets and in the demand and
market price for commodities, possible variations in ore grade or recover y 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) , pe rmits or
financing or in the completion of development or construction activities, 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 integration 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 looking 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.
- 30 -