Canadian Gold Miner Options Projects Near Côté Gold Project
Canadian Gold Miner Options Projects Near Côté Gold Project
Sudbury, March 6, 2017 – Canadian Gold Miner (“CGM” or “the Company) and T ransition Metals Corp.
(“Transition Metals”, XTM.V) are pleased to announce that CGM has entered into two option and joint venture
agreements that allow Trelawney Mining and Exploration Inc. (“Trelawney”), a wholly owned subsidiary of
IAMGOLD Corporation, to earn up to an 80% interest in the Jumping Moose and Elephant Head projects,
located close to the Côté Gold deposit near Gogama Ontario by incurring work expenditures on the properties
and making cash payments to CGM.
Canadian Gold Miner CEO Greg Collins commented, “Both the Jumping Moose and Elephant Head properties
have the potential to host gold deposits with exceptional grade. The Jumping Moose project hosts a cluster of
angular boulders that have returned assays from grab samples containing up to 374 grams per tonne gold. At
Elephant Head, a 1 kilometre long mineralized trend has been identified with grab samples returning up to 57.3
grams per tonne gold. We look forward to working with our new partner to advance these projects while the
focus for Canadian Gold miner will be the advancement of our Lincoln-Nipissing and high grade Midlothian
gold projects.”
The Jumping Moose project
The Jumping Moose project area is located in Burrow s and Kemp townships in the northwestern corner of the
Larder Lake Mining District, Ontario approximately 50 kilometres northeast of IAMGOLD’s Côté Gold depo sit
near Gogama. The property hosts a cluster of extrem ely high grade gold-silver-tellurium bearing quartz vein
boulders located on the east side of Jumping Moose Lake that were identified in the 1950’s. Grab sampl es of
the float boulders collected by the Company have yielded assay values up to 374 g/t Au and 648 g/t Ag.
Under the terms of the option and joint venture agreement, Trelawney can earn an initial 51% interest by incurring
$850,000 of expenditures and paying CGM $80,000 in cash over 3 years, with an option to increase up to an
80% interest by incurring an additional $2,000,000 in expenditures and making additional $250,000 in c ash
payments to CGM over 2 years following the initial 51% interest earn in. Upon earning a 51% or 80% int erest,
as the case may be, the Option will convert to a jo int venture with each party providing funding to ma intain its
proportionate interest or be diluted down. Should a party be diluted to 10% or less, its interest would be converted
to a 2% NSR. The Jumping Moose property remains subject to an underlying 2% NSR to the original land holder
and a $1,000,000 commercial production payment to Transition Metals.
The Elephant Head project
The Elephant Head property is located in Connaught Township, Larder Lake Mining Division approximately 40
kilometres east of IAMGOLD’s Côté Gold deposit. Pr ospecting and sampling conducted in 2012 and 2014 i n
the vicinity of a poorly exposed silicified shear z one with variable sulphide mineralization yielded u p to 57.3 g/t
Au and outlined an area approximately 400 by 1000 metres with similar geological and structural characteristics
to those associated with the Chester 1 and 2 lode-g old deposits located near Côté Lake. At Elephant He ad, a
number of historical pits and trenches are exposed that have returned assays from grab samples up to 57.3 g/t
Au. In 2014, portions of the property were covered by an SGH ¹ soil orientation survey consisting of 62 samples
collected over the vicinity of known mineralized occurrences which outlined geochemical anomalies to the west
and north of the known showings.
Under the terms of the option and joint venture agreement, Trelawney can earn an initial 51% interest by incurring
$850,000 of expenditures and paying CGM $80,000 in cash over 3 years, with an option to increase up to an
80% interest by incurring an additional $2,000,000 in expenditures and making additional $250,000 in c ash
payments to CGM over 2 years following the initial 51% earn in. Upon earning a 51% or 80% interest, as the
case may be, the Option will convert to a joint ven ture with each party providing funding to maintain its
proportionate interest or be diluted down. Should a party be diluted to 10% or less, its interest would be converted
to a 2% NSR. The Jumping Moose property remains subject to an underlying 2% NSR and a $1,000,000 million
commercial production payment to Transition Metals.
Figure 1. Depicts the location of the Jumping Moose and Elephant Head Properties
¹ Spatiotemporal Geochemical Hydrocarbons
Qualified Person
The technical elements of this press release have been approved by Mr. Tom Hart, P.Geo. (APGO), a
Qualified Person as defined under National Instrument 43-101.
About Canadian Gold Miner
Canadian Gold Miner Corp. is 65% owned by Transition Metals Corp (XTM –TSX-V) and is a Canadian privat e
corporation focused on exploring for gold in the La rder Lake Mining District near Kirkland Lake. The C ompany
was founded by Transition to leverage its data, exp ertise and extensive portfolio of high quality gold projects.
CGM has assembled a dominant land position in exces s of 165 square kilometres around the Cadillac Lard er,
Lincoln-Nipissing and Ridout Structures in the southwestern part of the prolific Abitibi Greenstone belt in Ontario.
The Abitibi Greenstone belt is Canada’s most prolif ic gold district located in a stable political juri sdiction with
excellent mining infrastructure in place.
Transition Metals Corp
Transition Metals Corp (XTM -TSX.V) is a Canadian-based, multi-commodity project generator that specializes
in converting new exploration ideas into discoverie s. The award-winning team of geoscientists has exte nsive
exploration experience which actively develops and tests new ideas for discovering mineralization in places that
others have not looked, often allowing the company to acquire properties inexpensively. Rigorous field work
combining traditional and new techniques helps unearth compelling prospects and drill targets. Transition uses
the project generator business model to acquire and advance multiple exploration projects simultaneous ly,
thereby maximizing shareholder exposure to discovery and capital gain. Joint venture partners earn an interest
in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital
and minimize shareholder’s equity dilution. The com pany has a portfolio that currently includes gold, copper,
nickel and platinum projects primarily in Ontario, Nunavut and Saskatchewan.
2017 PDAC Conference
Transition Metals Corp, Canadian Gold Miner and Sudbury Platinum Corporation will have a significant
presence at the PDAC Conference being held at the Metro Convention Centre. We welcome your enquiry and
there will be a number of opportunities to meet with management and exploration teams. Please drop by
Booth 2126 of the Investor’s Exchange from 10 am to 5 pm Sunday to Tuesday, and 9 am to 12 pm
Wednesday. The Investors Exchange is open to the public and does not require a fee.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release consti tutes
“forward-looking information” within the meaning of Canadian securities law. Such forward-looking info rmation
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 production
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, risks inherent in the mining industry, and regulatory risks. Most of these factors
are outside the control of the Company. Investors a re cautioned not to put undue reliance on forward-l ooking
information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly
disclaims any intent or obligation to update public ly forward-looking 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) accepts responsibility for the adequacy or accuracy of this release.
Further information is available at www.transitionmetalscorp.com or by contacting:
Greg Collins Scott McLean
President and CEO President and CEO
Canadian Gold Miner Corp. Transition Metals Co rp
Tel: (705) 669-0590 Tel: (705) 669-1777
Figure 1. Location of the Jumping Moose and Elephant Head Properties