St. James Gold Corp. (TSX-V: LORD) Files NI 43-101 Technical Reports Regarding Its Canadian Properties: The Florin Gold Project, the Quinn Lake Property, and the Grub Line Property
Vancouver, British Columbia, February 18, 2022 - St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has filed new technical reports for: (i) its Florin Gold Project titled “Florin Gold Project NI 43-101 Technical Report Mayo and Dawson Mining Districts, Yukon Territory”, Canada, prepared by Ronald G. Simpson, P.Geo. of GeoSim Services Inc. and R. Allan Doherty, P.Geo. of Aurum Geological Consultants Inc., with an effective date of December 15, 2021 (the “Florin Report”); (ii) its Quinn Lake Property in Newfoundland, Canada, titled “Technical Report on the Quinn Lake Property”, prepared by Dave Swanton, P.Geo. and Ron Voordouw, P.Geo. of Equity Exploration Consultants Ltd. (“Equity”), with an effective date of December 10, 2021 (the “Quinn Lake Report”); and (iii) its Grub Line Property in Newfoundland, Canada, titled “Technical Report on the Grub Line Property”, prepared by Dave Swanton, P.Geo. and Ron Voordouw, P.Geo. of Equity, with an effective date of December 10, 2021 (the “Grub Line Report”, and together with the Florin Report and the Quinn Lake Report, the “Reports”).
Each of the Reports conforms to the format for Canada’s National Instrument 43-101 – Standards for Disclosure of Mineral Projects (“NI 43-101”) and supports the disclosure in the Company’s annual information form dated July 26, 2021. There were no changes to the mineral resource or mineral reserve estimates in the Florin Report and the changes made to the report included enhanced disclosure in the site visit and personal inspection, tenure history, drilling, data verification, mineral processing and metallurgical testing, and the proposed exploration budget sections of the Florin Report.
The Reports will be available for viewing on the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.
Dr. Stewart A Jackson, Technical Advisor, and a Qualified Person within the meaning of NI 43- 101, has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.
The Company has also amended the terms of its non-brokered private placement originally announced on January 7, 2022 by decreasing the price per unit from $1.16 per Unit to $1.00 per Unit and increasing the maximum number of Units to be issued from 431,035 to 500,000.
Each Unit shall be comprised on one common share capital of the Company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share, at an exercise price of $1.25 for a period of two years from the closing date.
About St. James Gold Corp.
St. James Gold Corp. is a publicly traded Canadian company listed on the TSX Venture Exchange under the trading symbol “LORD”, in the U.S. Market listed on OTCQB under "LRDJF" and on the Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well-delineated geological theories; integrating all available geological, geochemical, and geophysical datasets; and financing efficient exploration programs. The Company currently holds: (i) an option to acquire a 100-percent interest in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland, Canada, located adjacent to New Found Gold Corp.'s Queensway North project; and (ii) an option to acquire a 100-per-cent interest in 28 claims, covering 1,730 acres, in central Newfoundland located adjacent to Marathon Gold's Valentine Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historic Tintina gold belt in Yukon Territory, Canada.
For more corporate information please visit: http://stjamesgold.com/
For further information, please contact:
George Drazenovic, Chief Executive Officer Tel: 1 (800) 278-2152 Email: [email protected]
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements in this news release relate to all statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements, and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results. New factors emerge from time to time, and it is not possible for the Company to consider all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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