Canadian Gold Miner and Osisko Mining team up to accelerate gold exploration projects in Ontario
Canadian Gold Miner and Osisko Mining team up to accelerate gold
exploration projects in Ontario
Sudbury, November 24, 2017 – Canadian Gold Miner Corp. ("CGM" or the "Company") and
Transition Metals Corp. (a 40% owner of CGM; XTM – TSX.V, "Transition") are pleased to
announce that CGM has today concluded a transaction with Osisko Mining Inc. ("Osisko") to
acquire the DeSantis property, a historical gold pr oducer located in the heart of the Timmins
Gold Camp, and an option on the Catharine Property, a large exploration land package near
CGM's focus area south of Kirkland Lake, Ontario in exchange for 2.5 million common shares of
CGM valued at $0.20 per share. Concurrent with the transaction, Osisko also has completed a
$1.0 million private placement in CGM consisting 5. 0 million units priced at $0.20 with each unit
consisting of a common share and a half common shar e purchase warrant exercisable at $0.35
for a period of two years.
Commenting on the transaction, CGM CEO Greg Collins states "We are pleased to have
Osisko's support as a significant shareholder as we look to aggressively advance our portfolio of
gold projects in Ontario. In addition to adding two properties with good exploration potential to
our portfolio, we view the transaction as a signifi cant milestone that should help us attract
additional investment interest and accelerate our ability to create value moving forward.”
Osisko now owns approximately 19.9% of the issued a nd outstanding common shares of CGM
with Transition retaining a 39.9% ownership interes t. Additionally, Osisko retains rights to: (i)
maintain its equity interest in CGM on a pro-rata b asis in subsequent financings; (ii) appoint a
director to the board of CGM, (iii) a first right of refusal on any additional royalties that CGM may
sell on the DeSantis or Cote properties in the future; and (iv) a first right of offer on any royalties
that CGM proposes to sell on its existing propertie s (South Kirkland, West Matachewan,
Elephant Head, Jumping Moose and Golden Elk), as lo ng as it retains a 9.9% equity interest in
CGM.
About Canadian Gold Miner Corp
Canadian Gold Miner Corp. is a private Canadian cor poration focused on exploring for gold in
the Larder Lake Mining District near Kirkland Lake. The Company was founded by Transition to
leverage its data, expertise and extensive portfoli o of high quality gold projects within the
district. CGM has now assembled a dominant land pos ition in excess of 215 square kilometres
around the Cadillac Larder, Lincoln-Nipissing and R idout structures in the southwestern part of
the prolific Abitibi Greenstone belt in Ontario. Th e Abitibi Greenstone belt is Canada's most
prolific gold district with excellent mining infrastructure in place.
About Transition Metals Corp
Transition Metals Corp. (XTM -TSX.V) is a Canadian- based, multi-commodity project generator
that specializes in converting new exploration idea s into Canadian discoveries. The award-
winning team of geoscientists has extensive explora tion experience in established, emerging
and historic mining camps, and actively develops an d tests new ideas for discovering
mineralization in places that others have not looke d, which often allows the company to acquire
properties inexpensively. The company has an expand ing portfolio that currently includes gold,
copper, nickel and platinum projects primarily in O ntario, Nunavut, British Columbia,
Saskatchewan and Minnesota that it seeks to advance through funding partnerships and
subsidiary companies to maximize shareholder value. With completion of this transaction,
Transition's ownership interest in CGM has been reduced to approximately 39.9%.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release
constitutes "forward-looking information" within th e meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans", "proposes", "estimates",
"intends", "expects", "believes", "may", "will" and include without limitation, statements regarding
estimated capital and operating costs, expected pro duction timeline, benefits of updated
development plans, foreign exchange assumptions and regulatory approvals. There can be no
assurance that such statements will prove to be accurate; actual results and future events could
differ materially from such statements. Factors that could cause actual results to differ materially
include, among others, metal prices, competition, r isks inherent in the mining industry, and
regulatory risks. Most of these factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-look ing information. Except as otherwise
required by applicable securities statutes or regul ation, the Company expressly disclaims any
intent or obligation to update publicly forward-loo king information, 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) accept s responsibility for the adequacy or
accuracy of this release.
For more information about Canadian Gold Miner visi t the company's website at:
www.canadiangoldminer.com or by contacting:
Greg Collins, P.Geo.
President and CEO
Canadian Gold Miner Corp.
Tel: (705) 872-6390
For more information about Transition Metals Corp v isit the company's website at:
www.transitionmetalscorp.com or by contacting:
Scott McLean, P.Geo.
President and CEO
Transition Metals Corp
Tel: (705) 669-5090