Gold79 Retracts and Clarifies Technical Disclosure Regarding the Jefferson Canyon Project
Gold79 Retracts and Clarifies Technical
Disclosure Regarding the Jefferson Canyon
Project
Ottawa, Ontario--(Newsfile Corp. - March 30, 2021) -
Gold79 Mines Ltd. (TSXV:
AUU)
("Gold79" or the
"Company") announces that, as a result of a review by staff of the Ontario Securities Commission, the
Company is issuing the following news release retracting and clarifying previous disclosure relating to
the Jefferson Canyon Project.
The Company's website, corporate presentation and a news release dated January 26, 2021 contained
disclosure of an internal mineral resource estimate and related block model estimates related to the
Jefferson Canyon Project that are not supported by a National Instrument 43-101
Standards of
Disclosure for Mineral Projects
("NI 43-101") technical report.
For this reason, the Company is
retracting all disclosure related to the mineral resource estimate and related block model.
The Company
notes that the previous disclosure should not be relied upon.
The Company has amended the content on its website and its corporate presentation to remove the
disclosures noted above.
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company's Vice President, Exploration is a qualified
person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of this
press release.
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 37.1%
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:
Gary Thompson, Executive Chairman
and Chief Executive Officer at (403) 870-1166 or by email at
Gold79's website
is located at
www.gold79mines.com
.
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, 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/78976