Gold79 Issues Shares for Jefferson Canyon Anniversary Payment
Gold79 Issues Shares for Jefferson Canyon
Anniversary Payment
Ottawa, Ontario--(Newsfile Corp. - June 1, 2022) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF)
("Gold79" or the "Company") announces that it intends to issue 632,400 common shares of the
Company at a deemed value of CDN$0.05 per common share in connection with the US$25,000 third
anniversary payment due under the terms of the Jefferson Canyon, Nevada property option agreement
with Thorsen-Fordyce Merchant Capital Inc. The common shares issued will have a statutory hold period
of four months and one day from the date of issuance. This share for debt transaction remains subject to
TSX Venture Exchange approval.
As previously announced (see press release dated April 7, 2022), the Company anticipates receipt of
final drill permits for the Jefferson Canyon project in Q3 2022.
Derek Macpherson, President and CEO, stated,
"We continue to progress Jefferson Canyon towards a
maiden drill program later this year. We expect to receive permits in Q3 2022 and to start drilling
shortly thereafter. The historical geological, geophysical and drilling database for the Jefferson
Canyon project highlight a gold-silver project with significant scale potential."
About Gold79 Mines Ltd.
Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA.
Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon
Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project
located in Arizona, USA. In addition, Gold79 holds two projects with minority interest being a 36.6%
interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited and a 20%
carried interest in the Taviche Project in Oaxaca, Mexico now under option to Fortuna Silver Mines Inc.
For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email:
Website:
www.gold79mines.com
.
Book a 30-minute meeting with our CEO
here
.
Stay Connected with Us:
Twitter:
@Gold79Mines
Facebook:
https://www.facebook.com/Gold79Mines
LinkedIn:
https://www.linkedin.com/company/gold79-mines-ltd/
FORWARD-LOOKING STATEMENTS:
This press release may contain forward looking statements that are made as of the date hereof and
are based on current expectations, forecasts and assumptions which involve risks and uncertainties
associated with our business including any private placement financings, the uncertainty as to whether
further exploration will result in the target(s) being delineated as a mineral resource, capital
expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals,
expansion and growth of the business and operations, plans and references to the Company's future
successes with its business and the economic environment in which the business operates. All such
statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-
looking statements under, applicable Canadian securities legislation. Any statements contained
herein that are statements of historical facts may be deemed to be forward-looking statements. By
their nature, forward-looking statements require us to make assumptions and are subject to inherent
risks and uncertainties. We caution readers of this news release not to place undue reliance on our
forward-looking statements as a number of factors could cause actual results or conditions to differ
materially from current expectations. Please refer to the risks set forth in the Company's most recent
annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at
www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to
update or revise any forward-looking statements whether as a result of new information, future events
or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/126167