International Samuel Acquires 100% Interest in the Lucifer Property, Drill Permits, and Stock Options
June 5, 2018 - International Samuel Exploration Corp. (the “Company” or “International Samuel”) (TSXV: ISS USA: ISSFF FSE: RFC2) announces that the Company will complete the purchase of its 100% interest in the Lucifer property by issuing one million common shares to the Vendors, subject to TSX Venture Exchange approval. The Lucifer property (comprising 4,588.41 hectares) located in northwestern British Columbia's Golden Triangle. The property is located in the northeastern part of the Golden Triangle, along the same geological trend as Evrim Resources' Ball Creek property, Colorado Resources' Hank and North Rok properties, Skeena Resources' GJ property, GT Gold Corp.'s Tatogga property, and Imperial Metals' Red Chris mine.
The Lucifer Property has two historical shallow drill holes completed in 1991 (Noranda), which reportedly intersected 15.1 g/t gold over 1.36 meters and 0.7 g/t gold over 5.70 meters. In addition to the mapped alteration zone and strong soil geochemical anomalies Noranda identified multiple strong “gold in stream” anomalies in the central part of the property which have not been followed up. The Company has also received a drill permit for the Lucifer property and will do conduction geophysics before further drilling commences.
In addition, on exercise, International Samuel will grant a 2-per-cent net smelter return royalty, of which 1.5 per cent can be purchased by International Samuel at $500,000 per 0.5 per cent. This transaction is subject to TSX Venture Exchange approval.
Dr. Shane Ebert has resigned as a director from company due to other work commitments. The Company would like to thank Dr. Shane Ebert for his invaluable contribution to International Samuel.
Stock Options The Company announces that it has granted incentive stock options to directors, officers, employees, and consultants to purchase up to an aggregate of 1,122,065 common shares of the Company at an exercise price of $0.05 per share for a term of five years from the date of the grant. The incentive stock options were granted in accordance with the Company’s Stock Option Plan.
The technical information in this press release has been reviewed and approved by Derrick Strickland P. Geo. the Vice President of Exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
“Conrad Swanson”
Conrad Swanson Chairman
For further information, please contact:
International Samuel Exploration Corp.
Telephone: 604-317-3090 Email: [email protected],
www.internationalsamuelexploration.com
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 Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance as described in the above news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.