GOLDEN PURSUIT ANNOUNCES PRIVATE PLACEMENT OF 2,500,000 UNITS @ $0.20

Vancouver, B.C., Canada, November 11, 2020 – Golden Pursuit Resources Ltd. is undertaking a proposed non-brokered private placement of up to 2.5 million units of the company at a price of 20 cents per unit, for aggregate gross proceeds of up to $500,000. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.30 for a period of eighteen months from the date of issuance. The Units will be offered in each province of Canada pursuant to available prospectus exemptions.

The Company has engaged an exclusive finder in connection with the Offering (the “Finder”). The Company has agreed to pay the Finder a cash commission of 8% of the proceeds of the Offering introduced by the Finder. In addition, the Company has agreed to issue to the Finder compensation options equal to 8% of the number of Units sold to subscribers introduced by the Finder. Each Compensation Option will entitle the holder thereof to purchase a Unit for $0.30 for a period of eighteen months from the date of issuance.

The Company will use the net proceeds of the Offering to fund exploration and development activities at the Gordon Lake Project and WT- Myrt Lake Gold Project and for general administrative and corporate purposes. The offering is subject to regulatory approvals, including conditional acceptance by the TSX Venture Exchange. The securities issued under the Offering have a hold period of four months and one day from the date of issuance.

The company intends to commission a NI43-101 compliant report to list as a “property of merit” and to outline a plan for development of the Gordon Lake and WT projects in the NWT. For further information on these project, please visit the company’s website (www.goldpursuit.ca).

About Golden Pursuit Resources

Golden Pursuit Resources is an exploration and project generator company focused on its portfolio of 15 mineral properties located in Nevada and the development of its recently staked Gordon Lake Project, located 85 kms N of Yellowknife NWT. Golden Pursuit owns100% of all properties with no royalties. The company has a carried 40% interest in a joint venture on its Blackpoint Prospect located 8 kms north of Eureka Nevada and is awaiting assays from a recently completed drill program.

On Behalf of the Board of Directors,

GOLDEN PURSUIT RESOURCES LTD.

Brian McClay

President/CEO

For further information please contact:

Investor Relations

Brian McClay

Tel: +1 (604) 730.6982

Email: info@goldpursuit.ca 

https://www.GoldPursuit.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Golden Pursuit’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning Golden Pursuit’s expected use of proceeds of the Offering and all other statements that are not statements of historical fact.

Although Golden Pursuit believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Golden Pursuit to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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GOLDEN PURSUIT ANNOUNCES ACQUISITION OF 5 HISTORICAL SMALL SCALE MINES/DEPOSITS, GORDON LAKE NWT

View Historical Reports here

Vancouver, B.C., Canada, October 28, 2020 – Golden Pursuit Resources Ltd. (the “Company”) wishes to announce the acquisition of new mineral tenure at Gordon Lake, NWT. The company staked a total of 13 Territorial mineral claims covering 3,532 ha and 12 Federal mineral claims covering 1,686 ha. This new mineral tenure is in addition to company owned mineral leases of 378 ha.. The company has had leases covering the main zones of mineralization at Kidney Pond since 1996.  The new mineral tenure covers a former producing small scale mine known as Camlaren and minor producing small scale advanced projects like Burnt Island, West Bay Mine and Argonaut (tungsten). The properties are located 85 Km northeast of the city of Yellowknife in the Northwest Territories (NWT), Canada with access via the Tibbitt to Contwoyto winter road which traverses the properties. 

Historically, the NWT has been host to some significant gold mines in Canadian history, including:

Con Mine (1938 – 2003) was the first gold mine developed in the Northwest Territories on the south side of Yellowknife and produced over 5 million ounces of gold.

Giant Mine, located on the north side of Yellowknife, produced 7 million ounces of gold. Giant and Con were two of the longest continuous gold mining operations in Canadian mining history.

The historic Discovery Mine is located 85 km NNE of Yellowknife and just 35 km WNW of the Gordon Lake properties. Production from 1949 to 1969 totaled one million oz of gold produced from one million tons of ore. 

The southern Gordon Lake area is underlain by the Archean Yellowknife Supergroup which is locally made up of a turbidite sequence composed predominantly of greywacke, mudstone, siltstone and less abundantly argillite. Gold lode deposits, hosted within shear zones of metavolcanic belts, have produced some of the world’s largest gold mines. Consequently, exploration has focussed on lineaments within these belts. Commonly associated metaturbidite terrains are good exploration targets but a better understanding of structural and lithological ore controls and their genesis is required. Turbidite hosted deposits include Bendigo-Ballarat-Victoria gold fields of Australia (80 million oz. production), Meguma Group in Nova Scotia (1.2 million oz production) and the recent Newfoundland exploration success of NewFound Gold Corp. There is good exploration potential for a large tonnage, bulk mining operation based upon the recent discovery of disseminated gold in metasedimentary rocks at many former gold districts.

The Gordon Lake area is well known for its many gold occurrences. Frequently these occurrences have exceptional grade but limited extent. Historical work was concentrating on gold grade needing to be greater than 0.5 oz/ton. The company feels that many of the historical occurrences should be re-evaluated in the context of 2020 gold prices to better understand their relevance in todays gold price environment.

Any reference to a resource at the Gordon Lake south area should be considered historical and a non-compliant NI 43-101 resource. 

Gold production in the South Gordon Lake area is summarized as:

Camlaren – In 1937/38; 13,177 tons of ore graded 0.62 oz/ton. In 1963, 12,174 tons graded 1.14 oz/ton. In 1978, the resource was estimated at 56,000 tons grading 0.62 oz/ton. In 1980; 12,282 tons of ore graded 0.42 oz/ton. In 1981; 39,680 toms of ore graded 0.44 oz/ton. 

Burnt Island – The only reported resource from Burnt Island comprised a was in 1989 estimation of 1,300 tons grading 2.11 oz/ton down to the 100’ level. 

Kidney Pond (Mahe) – The only reported resource from 1995 comprises an underground resource of 10,040 tons grading 0.74 oz/ton and an open pit resource of 3,300 tons grading 0.45 oz/ton. 

West Bay – By end of 1948, a total of 289 tons of ore was produced grading 221 oz/ton. In 1991, 1,387 tons of ore were produced grading 0.78 oz/ton. 

The most recent acquisition of mineral tenure in the south Gordon Lake area marks the first time in history that all advanced projects in the district have been consolidated with one corporate owner and no vendor royalties or payments. This was a unique opportunity that came together from a federal government reclamation project in the Gordon Lake area, an extensive downturn in the mining market conditions and the COVID pandemic.

The company intends to commission a NI43-101 compliant report to list as a “property of merit” and to outline a plan for this exciting new project. For further information on this project, please visit the company’s website (www.goldpursuit.ca) which will be updated this week..

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Gary Vivian P. Geo., a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Golden Pursuit Resources

Golden Pursuit Resources is an exploration and project generator company focused on its portfolio of 15 mineral properties located in Nevada and the development of its recently staked Gordon Lake Project, located 85 kms N of Yellowknife NWT. Golden Pursuit owns100% of all properties with no royalties. The company has a carried 40% interest in a joint venture on its Blackpoint Prospect located 8 kms north of Eureka Nevada and is awaiting assays from a recently completed drill program.

On Behalf of the Board of Directors,

GOLDEN PURSUIT RESOURCES LTD.

Brian McClay

President/CEO

For further information please contact:

Investor Relations

Brian McClay

Tel: +1 (604) 730.6982

Email: info@goldpursuit.ca 

https://www.GoldPursuit.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Golden Pursuit’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning Golden Pursuit’s expected use of proceeds of the Offering and all other statements that are not statements of historical fact.

Although Golden Pursuit believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Golden Pursuit to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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Golden Pursuit and JV Partner Stevens Gold Nevada Inc. Announces Drill Program on Black Point Property

August 10, 2020

Golden Pursuit and JV Partner Stevens Gold Nevada Inc.
Announces Drill Program on Black Point Property

Vancouver, BC: GOLDEN PURSUIT RESOURCES LTD. (GDP-TSX-V) (“GoldPur”) and STEVENS GOLD NEVADA INC. (CSE: SG)  (the “Company” or “Stevens Gold”) is pleased to announce that it will commence a drill program on its Black Point Property during the week of August 17, 2020. 

Stevens Gold has the right to earn up to a 60% interest in the Black Point Property (the “Property”) from Golden Pursuit Resources Ltd.. Under the terms of the binding Property Option, the Company has the right to purchase 60% interest in the Property by making a payment of US$500,000. Until the payment of the purchase price is made, the Company is to make annual lease payments. GoldPur retains a 2% Net Smelter Return royalty on production.

The Property, consisting of 80 lode mining claims covering approximately 1,600 acres, is located in Eureka County, Nevada in the prolific Battle Mountain – Eureka Trend, 11 miles northeast of Eureka and 18 miles west of the Bald Mountain-Alligator Ridge-Yankee mining district.

The drilling will test the down-dip extension of anomalous gold and pathfinder elements shown in the July 2019 soil sampling program and geophysical targets identified in gravity and CSAMT surveys conducted in December 2018 and September 2019 respectively.  The soil anomaly coincides with altered float and sub-outcrop of the Mississippian-Devonian Pilot Shale, a calcareous siltstone. This stratigraphy is a prolific host in the nearby Eureka and Alligator Ridge – Bald Mountain district and other Carlin-style deposits in Eastern Nevada.

The gravity and CSAMT geophysical surveys on the property concentrated on the alluvium covered slopes and valley to the west of the outcrops.  CSAMT results show an apparently steep lying strong resistive area underlies the west flank of the ridgeline. This could represent a silicified fault zone or a resistive geologic unit. Gravity shows a relatively consistent dip of the basin to the west, which is also mirrored to a degree in the CSAMT data.  

Mining in the Black Point area started about 1864 with sporadic activity until the 1939 – 1942 period when a few shipments with silver grades of 410 – 3,700 ppm (12 to 108 opt) were made to various smelters.  Exploration in the local area recommenced about 1964 culminating in an 82-hole percussion drill program in 1971 – 1972.  The district was quiet until the early 1980’s gold rush when portions of the current property were explored by Gergan, Newcrest, Iron Horse Resources and Urastar between 1989 and 2012. 

The disclosure of technical information regarding the Property contained in this news release has been reviewed and approved by Alan J. Morris, CPG, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and independent of Stevens Gold.  

About Golden Pursuit Resources Ltd.

Golden Pursuit Resources Ltd. is a mineral exploration company. Its primary business objective is to explore and develop a portfolio of owned properties located in the State of Nevada and mineral leases in the NWT. The management team at Golden Pursuit has extensive experience in the acquisition and development of mineral related opportunities in North America and globally and continues its search for additional opportunities.

ON BEHALF OF GOLDEN PURSUIT RESOURCES LTD.

(sgd.) Brian McClay

 President
T: 604-730-6982
E: info@goldpursuit.ca

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Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Stevens Gold. Forward-looking information is based on certain key expectations and assumptions made by the management of Stevens Gold. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Stevens Gold believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Stevens Gold can give no assurance that they will prove to be correct. 
The TSX-Venture Securities Exchange (TSX-V) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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GOLDEN PURSUIT ANNOUNCES RE-ORGANIZATION INCLUDING CONSOLIDATION, FINANCING AND SHARES FOR DEBT

March 25, 2020

Vancouver, B.C., Canada, March 25, 2020 – Golden Pursuit Resources Ltd. (the “Company”) is pleased to announce that the board of directors believe it would be in the best interest to consolidate its outstanding common shares on the basis of two (2) existing common shares for one (1) new common share of the Company (the “Consolidation”).

The Company would also like to announce that it intends to complete a non-brokered private placement financing following the Consolidation for up to 4,000,000 units (the “Units”) at a post-consolidated price of $0.10 per Unit to raise gross proceeds of up to $400,000 (the “Private Placement”). Each Unit will consist of one (1) post-consolidated common share and one-half of one (1) common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional post-consolidated common share exercisable at $0.12 per share, on a post-consolidated basis, for a period of two (2) years from the date of closing of the Private Placement.

Proceeds of the Private Placement will be used for project generative activities, and general working capital.

The Company would also like to announce that its board of directors has approved the settlement of up to
$470,014 of outstanding debt through the issuance of common shares of the Company (the “Debt
Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 4,700,140 post-consolidated
common shares of the Company (the “Shares”) at a deemed price of $0.10 per Share to the creditors of the
Company (the “Creditors”).

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange and the
shareholders of the Company. All securities issued will be subject to a four month hold period which will
expire on the date that is four months and one day from the date of issue.

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction” under
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (“Mi-61-
101”). All of the independent directors of the Company, acting in good faith, considered the transactions and
determined that the fair market value of the securities being issued to insiders and the consideration being paid
is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder
approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a).

The foregoing is subject to the approval of the TSX Venture Exchange.

GOLDEN PURSUIT RESOURCES LTD.

Per: “Brian McClay”
Brian McClay, President

CONTACT INFORMATION:

Brian McClay
Email: bmcclay@aol.com
Tel: (604) 730-6982

Neither 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.

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GOLDEN PURSUIT STAKES ADDITIONAL CLAIMS ON JOINT VENTURED PROSPECTS IN CENTRAL NEVADA

VANCOUVER, BC, November 15, 2018, Golden Pursuit Resources Ltd (TSX.V: GDP)(“GDP”) is pleased to announce that it has staked additional claims over new developing targets at both the Black Point and Stevens Basin properties, with each subject to the terms of Lease Purchase Option Joint Venture Agreements, entered into by the signing of Letters of  Intent with 1167609 B.C. LTD, as announced on October 23, 2018.

 

Target Mineralization

The targets at both properties are Carlin style gold deposits hosted in favorable lithologic horizons and structures in Lower Paleozoic carbonate-rich rocks. The closest examples to the Stevens Basin property are the Archimedes deposits at Ruby Hill 10 km to the northeast that produced 1.4 million ounces of gold. The Black Point property lies 19 km NE of Ruby Hill and 31 km SW of the Yankee-Alligator Ridge-Bald Mountain District.

 

Stevens Basin

New claims covering Lower Paleozoic carbonate rocks surrounding the Basin were recently staked, including areas where rock chip sampling of siliceous zones (jasperoids) has yielded values between 0.14 and 1.56 ppm gold. Jasperoids often represent the surface expression of hydrothermal fluids from which gold deposits are formed. Frequently, jasperoids only contain trace gold values but have anomalous levels of associated pathfinder metals, particularly arsenic, antimony, and mercury. These are intruded by altered intermediate intrusive rocks that generally trend E-W. Such evidence of igneous activity is invariably present in, or adjacent to, Carlin systems.  

Detailed field mapping is in progress to outline anomalous metal trends that may also coincide with recently recognized targets. Intersections of geophysical linears are prime targets for drill testing. Detailed gravity and new CSAMT surveys are planned over what is thought to be shallow Basin cover to augment field work and refine such targets. Recent interpretation of regional magnetic and gravity data has outlined broad linear features across Basin margins that will guide the location for the new surface surveys. The gravity and CSAMT data will also better define depth to bedrock where any buried structural targets are within striking distance of surface drilling.  

The nearby West and East Archimedes deposits are hosted in altered carbonate rocks of Lower Paleozoic age and along a distinct WNW direction where intersected by N-S and NNE-SSW trends.  A similar trend, displayed in regional magnetic data, cuts through Stevens Basin and intersects prominent N-S and NW-SE linears. Several such intersections represent excellent buried targets that GDP geologists intend to enhance with surface geochemical techniques around the basin margin. Both grid soil sampling in and around altered outcrops and BLEG sampling of basin-ward drainages are planned.

Previous work on the property concentrated on an area at the north end of the basin where a series of reverse-circulation angled drill holes tested two adjacent anomalous gold trends indicated primarily by surface sampling of jasperoids in outcrop and float. Gold mineralization greater than 100 ppb was intersected in 6 out of 22 holes over widths that, in one hole, totaled 33 meters.

 

Black Point

Reconnaissance chip sampling of silicified rocks was recently undertaken on the property. Some gold values as high as 408 ppb were obtained in jasperoidal breccia and most were highly anomalous in pathfinder metals associated with sediment hosted gold deposits, particularly arsenic. Sampled areas are close to the series of mapped and interpreted ENE, NW, and NE striking fractures or thrust faults on lithological contacts in Devonian and Mississippian calcareous siltstones and carbonate rocks including the Pilot Shale, host rock to the Alligator Ridge deposits.

Host rocks and structures extend SW under shallow basin sediment-cover. Geophysical surveys are planned to map structural continuities and cover thickness along the western extent of the property. Mineralized targets are thought to be both stratabound, particularly in the Pilot Shale, or in steeply dipping structures that act as feeders and themselves can form rich underground deposits. It is notable that over 40% of production from Carlin type systems in Nevada now comes from underground, high grade, deposits.

Past silver mining and later exploration in the Black Point area include underground mining and drilling by Gergen Mining in the 1970’s and 1980’s who also produced from the Philipsburg silver mine 8 km to the north. Later drilling by Newcrest in 1996 totaled 320 meters in 3 reverse circulation holes and, in 2011, Urastar Gold drilled 4 core holes, totaling 427 meters. No results of any previous work are currently available.

Gold production from the Yankee-Alligator Ridge-Bald Mountain belt over a 30 year period since the first discovery by Amselco, now exceeds 1.6 million ozs. Other Pilot Shale hosted deposits in eastern Nevada include the Pan, Easy Junior, and Green Springs deposits.  

GDP geologists estimate that a total of US $1.2 million have been expended to date by all the companies that have worked on both the Stevens Basin and Black Point projects. Detailed review of all available data, together with new applications of proprietary and public domain regional geophysical data, has allowed GDP geologists to interpret key structural controls on mineralization and to predict potential new drilling targets under pediment on both properties.

 

Qualified Person

Technical references in this Press Release have been reviewed and approved by Anthony P. Taylor BSc, PhD, Certified Professional Geologist #CPG11464, a Qualified Person under the definitions established by Canadian National Instrument 43-101.

 

Golden Pursuit Resources Ltd.

 “Brian McClay”                                  

Brian McClay, President

CONTACT INFORMATION

Email: info@Goldenpursuit.com

Tel: (604) 730-6982

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.

 Forward-Looking Information

This news release contains “forward-looking information” within the meaning of that phrase under applicable Canadian securities law.  This information reflects management’s current assumptions and expectations but known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that exploration, development or mining results will not be consistent with the Company’s expectations, title matters and surface access issues, the potential for delays in exploration or development activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing, the possibility that the Company may not sell its projects or secure joint venture partners or optionees, and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company disclaims any obligation to update or revise any forward looking information to reflect events or changes in circumstances that occur after the date of this news release.

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GOLDEN PURSUIT ENTERS INTO LETTERS OF INTENT WITH 1167609 B.C. LTD

Golden Pursuit Resources Ltd. (the “Company”) announces that it has entered into letters of intent (the “Agreements”) with 1167609 B.C. Ltd. (the “Optionee”) with respect to the Stevens Basin project (“SB Project”) and Black Point project (“BP Project”) which are both located in Nevada, USA (the “Properties”).  

 

Pursuant to the Agreements, the Company has granted the Optionee the option to purchase a 60% interest in the Properties subject to a 2% NSR in favour of the Company and which the Optionee shall make the following payments to the Company as set out below:

 

SB Project

 

The purchase price of the SB Project is USD$500,000 and is payable on or before commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase: (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$50,000 on or before the 1st and 2nd anniversary; (3) USD$75,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.

 

BP Project

 

The purchase price of the BP Project is USD$750,000 and is payable on or before commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase. Upon execution of the Agreement, the Optionee shall pay to the Company (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$25,000 on or before the 1st and 2nd anniversary; (3) USD$50,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.

 

The Company continues to operate under a project generator model with a special emphasis on Nevada. The Company has a remaining large portfolio of 18 other properties located in Nevada and a property in the North West Territories which it continues to compile data from previous work and has completed geological mapping and sampling this past year which has enhanced the understanding of the mineral potential of these projects.

 

GOLDEN PURSUIT RESOURCES LTD.

 

Per: “Brian McClay”
Brian McClay, President

 

CONTACT INFORMATION:

 

Brian McClay

Email: info@Goldenpursuit.com

Tel: (604) 730-6982

Neither 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.

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GRANT OF OPTIONS AND APPOINTMENT OF INVESTOR RELATIONS

Silver Pursuit Resources Ltd. (the “Company”) wishes to announce that it has entered into stock option agreements granting the right and option to purchase 2,900,000 common shares of the Company at $0.20 per common share exercisable in whole or in part on or before five years from April 17, 2018.

 

The Company has appointed Terry Bramhall to provide investor relations services to the Company.

 

Under the terms of the agreement, which commences April 17, 2018, for a period of twelve (12) months, Mr. Bramhall will provide communication services to keep the public informed of up to date ongoing business activities, for which he will be paid a fee of $3,000 per month plus 5% GST.  Mr. Bramhall has also been granted options to purchase 200,000 common shares of the Company at 20 cents per share exercisable for a period of five years from the date of issuance.

 

The agreements between the Company and the consultants and the grant of options are subject to regulatory approval.

 

 

Silver Pursuit Resources Ltd.

 

Per:   “Brian McClay”
         Brian McClay, President

 

 

CONTACT INFORMATION:

 

Brian McClay

Email: info@silverpursuit.com

Tel: (604) 730-6982

 

Neither 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.

 

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SILVER PURSUIT ANNOUNCES THE APPOINTMENT OF NEW DIRECTOR – GEOLOGIST ROBERT J. CASACELI OF RENO, NEVADA

 

VANCOUVER, B.C. – Silver Pursuit Resources Ltd. (the “Company”) is pleased to announce the appointment of Robert J. Casaceli B.A. (Geology) M.S. (Geology) of Reno, Nevada. Mr. Casaceli’s career in the mining industry spans over 44 years and has been involved in every facet of mineral exploration, He is currently a consultant to the mining industry with his principal client being Pershing Gold Corporation, whose primary project is the Relief Canyon gold mine, NV, which is now in pre-production development phase.

In recent years he has served as President & CEO of Creso Exploration Inc. (CXT:TSX.V) and as Chief Geologist, and later Chief Consulting Geologist, for Franco-Nevada Corporation, the world’s largest royalty acquisition company.  In this period, he also served as President, CEO, and Director of Franc-Or Resources Corporation (a TSX resource company) for over 12 years and has been involved in the design, funding, and implementation of numerous reconnaissance and advanced-stage exploration projects, and prospect/mine evaluations in some 56 countries. He was a founding partner of the consulting firm Annapurna Exploration in 1985. having extensive experience in negotiating mining agreements and operating in several countries. He speaks fluent Spanish, French, with moderate language skills in Italian, Portuguese, and Turkish, and rudimentary communication abilities in Chinese and Russian.

 

He has been involved in the discovery or delineation/expansion of several mineral deposits including: Cerro Negro, Argentina; Vetas/California, Colombia ; Salsigne, France; North Standard, Nevada (Carlin-like Au;+0.5M oz mined); Summitville, Colorado (High sulfidation Au; 0.294M oz mined); El Transito, Honduras; Rio Blanco, Peru; Rico, Colorado (Porphyry/skarn Mo), Bugdainskoye, Russia (Porphyry/veins Mo,Au,Ag,W,Cu,Pb,Zn,Re); and Aimara, French Guiana (laterite/saprolite/vein/placer Au).

 

As President and Chief Operating Officer of Latin America Nevada (Subsidiary of Euro-Nevada Mining Corporation) for two years, his primary function was the identification and acquisition of royalty interests from mining properties located throughout Latin America and elsewhere in the world. Brian McClay, President of Silver Pursuit commented on Mr. Casaceli, saying “What best distinguishes Bob as a mining professional is his personal integrity, determination and tireless approach to the identification and development of metal mining properties, his ability to manage and motivate people in this process, and his ability to communicate difficult technical concepts to company directors and shareholders.”

Mr. Casaceli’s recent experience includes:

 

April 2010-Present (8 years), Consulting Geologist: Clients have included: Pershing Gold Corporation (NV), Rashleigh Mining (Peru), Buccaneer Gold Corp (NV), Xtra-Gold Resources Corp (Ghana), Creso Exploration Inc (Canada)-(President & CEO); Ironsides Operations/Anibok Invest Res; Franco-Nevada Corporation(Chief Consulting Geologist) and other financial and exploration/mining companies involving property evaluation and exploration in North, South, and Central America, Africa, Europe, Australia, and Asia.

 

2008-March 2010 (1.7 years), Franco-Nevada Corporation, Chief Geologist: Conducted resource property geologic and economic evaluations for royalty acquisitions around the world, principally on precious and base metal properties; also Consulting Geologist for various companies to evaluate mining and exploration properties throughout the world.

1996-2008 (12 years), Franc-Or Resources, President and CEO: Gold exploration and mining (laterite-saprolite/placer/vein) in French Guiana and gold exploration in Russia, Peru, and Nevada, USA; also venture capital investments in biotech start-ups.

1994-1995 (2 years), L.A. Nevada (Subsidiary of Euro-Nevada Mining Corporation), President/C.O.O.: Acquisition of mining royalties from properties throughout Latin America; Europe, Australia, and Indonesia.

1985-1994 (9 years), Annapurna Exploration, Owner/Partner/Consulting Geologist: Precious and base metal exploration in the U.S., Latin America, Europe, Asia, SW Pacific, and Australia.

Prior to the above Mr. Casaceli worked as a Geologist for Anaconda Minerals Inc. (7 years), US Geological Survey (2 years) and Asarco Inc. (2 years)

The Company feels that Mr. Casaceli will play a pivotal role in the development of its portfolio of properties located Nevada in 2018. The Company continues to conduct detailed work to understand and catalogue the data compiled from external sources and generated internally on the properties owned by the Company.

Except for the optioned East Bell project, all claims are owned 100% by the Company are royalty and payment free. All taxes and lease payments are fully paid for 2018. Company expects to release additional historical information on the properties as it becomes available.

 

Silver Pursuit Resources Ltd.

 

“Brian McClay”                                  

Brian McClay, Director

 

Neither 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.

 

 

Forward-Looking Information

 

This news release contains “forward-looking information” within the meaning of that phrase under applicable Canadian securities law.  This information reflects management’s current assumptions and expectations but known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that exploration, development or mining results will not be consistent with the Company’s expectations, title matters and surface access issues, the potential for delays in exploration or development activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing, the possibility that the Company may not sell its projects or secure joint venture partners or optionees, and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company disclaims any obligation to update or revise any forward looking information to reflect events or changes in circumstances that occur after the date of this news release.

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Silver Pursuit is Encouraged by Confirmation Sampling at East Bell Project, Churchill County Nevada

Vancouver, British Columbia (FSCwire) – Silver Pursuit Resources Ltd. (“Silver Pursuit” or the “Company“) (TSX-V: SPF) is pleased to announce that it has completed a 2017 prospecting and surface sampling program at its East Bell Property. The project is located 40 miles southeast of Fallon and 20 miles north of Gabbs, Nevada.  Access is via Nevada Highway 361 to the turnoff to where good dirt roads lead to the property three miles west of the pavement.

 

The property consists of thirty unpatented lode claims that include 24 claims in the “Flats Zone” and six claims to the west that cover bedrock exposures at the “Hillside Zone”. Land is administered by the U.S. Bureau of Land Management, Carson City Field Office. Elevations range from 5535 feet to 6415 feet (1687-1955 m) at the project.

 

Gold occurrences at East Bell are characteristic of low sulfidation, epithermal mineralization hosted in Tertiary volcanic rocks. A train of gold-bearing boulders of rhyolite porphyry form a well- mineralized zone in surface sampling; this zone coincides with a resistivity-high suggesting silicification in the near-surface bedrock. This is known as the “Flats Zone” where the resistivity anomaly and mineralized samples occur in a zone over 350 meters (1100 ft) wide and along a strike length of 1700 m (5600 ft). A second zone, situated a mile (1600m) west, is known as the “Hillside Zone”. Gold mineralization at the Hillside Zone is associated with silicification and adularization of outcropping, felsic volcanic host rocks. A six-hole drilling program is planned to test the two target zones.

 

Silver Pursuit completed a prospecting and surface sampling program (the “2017 Program“) at its Property in order to evaluate the project for hosting potentially economic gold mineralization. The 2017 Program was carried out on behalf of the Company by geological consultant, Pavel Dubchak M.Sc., P.Geo., who is also a Qualified Person as that term is defined by National Instrument NI 43-101 (“NI 43-101“).

 

Assays from the 2017 Program at the East Bell project confirm the extensive gold mineralization reported in previous sampling completed by the owner in the property. A total of 14 rock chip samples were collected at the property and gold values range from nil to 8.42 g/t Au. Silver values ranged up to 118 g/t Ag (3.44 opt) and are associated with the highest gold value. A complete list of assays and descriptions will be posted on the company’s website www.silverpursuit.com along with a sample location map.

 

Precious metals mineralization is hosted by silicified rhyolite breccia with oxidized pyrite and subhedral adularia. Previous sampling has returned values from nil to 40.8 g/t gold in rock chip samples. Variations in the gold concentrations for the recent sampling with respect to previous nearby samples is thought to be related to coarse gold pockets in the mineralized system.

 

Gold mineralization at East Bell is characteristic of low-sulfidation, epithermal mineralization hosted in Tertiary volcanic rocks. A train of gold-bearing boulders of rhyolite porphyry form a distinct and well- mineralized zone in surface sampling; this zone coincides with a resistivity-high suggesting silicification in the near-surface bedrock. This area is known as the “Flats Zone” where the resistivity anomaly and mineralized samples occur in a zone over 350 meters (1100 ft) wide and along a strike length of 1700 m (5600 ft). A second zone, situated a mile (1600m) west, is known as the “Hillside Zone”. Gold mineralization at the Hillside Zone is associated with silicification and adularization of outcropping, felsic volcanic host rocks.

 

The 2017 Program consisted of prospecting and surface sampling at the Property during the month of October 2017. It followed-up on previous sampling program completed by the vendor which had returned values of from nil to 40.8 g/t Au.

 

The purpose of the 2017 Program was to validate previous sampling completed by Larry McIntosh, a well-known Nevada based Geologist/Prospector, the property vendor and the person responsible for the discovery of the mineralization in this area.

 

The 2017 Program focused on confirming previously reported gold values along a 300-meter-wide corridor and finding new targets for follow-up with geophysical survey and drill testing. Based upon the surface evaluation and review of the previous work both zones have the potential of broader mineralization. The flat Zone where it becomes covered by overburden and  the Hillside Zone as it has never been drilled tested and remains open for expansion in all directions.

 

A total of 23 rock chip and grab samples were collected and then delivered directly to ALS USA Ltd. (“ALS“), at their Reno, Nevada location, for assaying and testing for gold and silver. ALS is an ISO – 17025 accredited laboratory providing geochemistry analysis to the mining industry. The implemented QAQC protocol included certified reference material and silica blank inserted with the batch of samples submitted for mineral analysis. most of the samples were from a train and the next stage of work on the property will be focused on finding a source.

 

A six-hole drilling program is planned to test the two target zones but geophysics consisting of an IP-Resistivity survey along with a basic magnetometer survey is recommended prior to drilling.

 

Pavel Dubchak M.Sc., P.Geo., geological consultant and a Qualified Person as defined by National Instrument NI 43-101 (“NI 43-101“), supervised the preparation of the technical information contained in this press release in compliance with NI 43-101.

 

ABOUT SILVER PURSUIT

 

Silver Pursuit is a junior mineral exploration company engaged in the acquisition, exploration and development of properties for the mining of precious and base metals. Silver Pursuit currently holds an option to acquire a 100% interest in the East Bell Property, comprised of 30 mineral claim units.

 

In addition, Silver Pursuit owns a 100% interest in 14 additional properties located in 8 counties in the State of Nevada and 2 Mining Leases located 60 miles north of Yellowknife in the NWT historically known as the Gordon Lake Mine.

 

The common shares of Silver Pursuit trade on the TSX Venture Exchange under the stock symbol ″RNG″. The Company has 25,064,103 common shares issued and outstanding.

 

FORWARD-LOOKING STATEMENTS

 

Certain statements in this press release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Silver Pursuit or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words “estimate”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “may”, “should”, “will”, the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Silver Pursuit with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading “Risk Factors”, in Silver Pursuit’s prospectus and in other continuous disclosure documents that are filed by Silver Pursuit from time to time with the Alberta and British Columbia Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning Silver Pursuit, its prospects and the risks and uncertainties relating to Silver Pursuit and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Silver Pursuit to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Silver Pursuit cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

 

The forward-looking information contained in this press release is current only as of the date hereof. Silver Pursuit does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

 

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.

 

Contact Information

 

Brian McClay

 

President,

Silver Pursuit Resources Ltd.

info@silverpursuit.com

(604.730-6982

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Silver Pursuit acquires Chaos Creek claim group

Mr. Brian McClay reports

SPF-TSX.V ACQUIRES CHAOS CREEK CLAIM GROUP – NYE CTY NEVADA

Silver Pursuit Resources Ltd. has acquired a claim group known as Chaos Creek. Consideration for the claims is 100,000 shares and a 1-per-cent net smelter return (NSR) royalty.

Location

The Chaos Creek prospect consists of 12 lode claims located in the Squaw Hills and are situated in northeast Nye county approximately 53 miles south of Eureka and 75 miles northeast of Tonopah in Nevada. Elevations range from 7,690 to 6,500 feet (2,344 to 1,981 metres) in the prospect area.

Target concept

Chaos Creek is a raw prospect with potential for high-grade, epithermal precious metals veins and for disseminated gold mineralization hosted in the volcaniclastic rocks. Rhyolitic flow-dome complexes host crosscutting, mineralized breccias. Much of the host rock is covered by postmineral tuffs or gravel deposits. The gravel deposits are thought to be deposited in broken and altered zones of rhyolitic intrusive and felsic volcanic rocks of Eocene to Oligocene age.

A primary feature of interest is the intersection of two caldera margins along a deep-seated structural contact with the Paleozoic basement rocks. At the Chaos Creek claims, rhyolitic flow dome complexes are interpreted to be resurgent in character and are coincident with the nested margin of two intersecting volcanic centres of Oligocene age. A deep-seated, northeast-trending structural corridor is bounded, to the west, by Mississippian basement rocks. The rhyolitic domes and lavas are spatially coincident with localized anomalies modelled from remote-sensed ASTER data representing clay alteration and silicification. Surface exposures within the anomalies identified by ASTER are related to infilling and crosscutting silica veinlets that indicate episodic pulses of hydrothermal activity. To date, anomalous values of gold up to 0.45 gram per tonne have been discovered near the contact between the Paleozoic and Tertiary rocks.

Work planned

Systematic surface sampling and an IP (induced polarization) resistivity survey are planned to define drilling targets. Trace element distribution, in the sampling results, will provide vectors to guide target definition. The geophysical survey is intended to create a 3-D understanding of the subsurface geometry of the older intrusive host rocks and to identify contrasting resistivity where mineralized zones and controlling feeder structures may be present.

A summary map and cross-sections outlining pertinent features of the property may be found on the company’s website.

Qualified person

Pavel Dubchak, PEng, is the qualified person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release.

About Silver Pursuit Resources Ltd.

Silver Pursuit is building a diversified portfolio of Nevada assets with a special emphasis on gold. The company continues to define its presence in Nevada with the compilation of data and historic work on a portfolio of 15 prospects acquired by staking and the acquisition of the East Bell. The company continues to hold mineral leases located in the Northwest Territories, where historic expenditures were more than $5-million.

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