KGC Kestrel Gold Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Kestrel Gold Inc. ("Kestrel" or the "Corporation") (TSX VENTURE:KGC) has
provided notice in writing to the owners of the Huachi Property located in San
Juan Province, Argentina that it does not intend to continue to exercise its
option to acquire an interest in the Huachi Property. After conducting
widespread exploration of the gold mineralized portion of the Huachi Property,
including 4,000 metre diamond drill program, management of the Corporation has
concluded that the exploration results obtained to date do not outweigh the
economic and political risks in taking the project forward in Argentina. 


The Corporation has also given written notice of termination on two other
acquisition agreements related to its other projects in Argentina, namely the
Antofalla property in Catamarca Province, Argentina and the Condor Yacu property
in Salta Province, Argentina. 


Since the commencement of Kestrel's initial work programs in Argentina in late
2010, the political climate has changed to the degree that management is of the
view that the risks are now considered too great to continue with further
exploration on any of these projects. 


It is anticipated that in accordance with IFRS reporting standards, the
Corporation's investment in these projects will be written off in their entirety
prior to issuance of the Corporation's audited financial statements for the
current fiscal year. 


Kevin V. Nephin, President and CEO of the Corporation stated: "Due to the
regulatory environment and the political uncertainty present in Argentina today,
risk has increased substantially along with costs of doing business and mineral
exploration in Argentina. Difficult market conditions have added to this
situation causing investors to search for safe havens rather than countries with
added political risk and changing regulations. Management is, therefore, of the
opinion that it is in the best interest of the Corporation to concentrate the
Corporation's future exploration efforts in North America. This focus will be
mainly on the Corporation's King Solomon Dome Project in the Yukon, Canada, in
the heart of the Klondike Goldfields. The King Solomon Dome group of properties
represents a fantastic opportunity to seriously explore for the source host of
the 20 plus million ounces of gold obtained to date from the near by placer
creeks." 


The Corporation is also currently looking to increase its mineral land position
in both the Yukon and in other prospective parts of Canada in the near term.


About Kestrel Gold Inc. 

Kestrel is a gold exploration company headquartered in Canada. Its principal
project is the King Solomon Dome property in Canada's Yukon Territory. Kestrel
(KGC) is listed on the TSX Venture Exchange. 


Cautionary Statements

This news release contains "forward-looking information" within the meaning of
applicable securities laws, including but not limited to, statements with
respect to termination of exploration projects in Argentina. Readers are
cautioned to not place undue reliance on forward-looking statements.
Forward-looking statements are based on certain key assumptions made by the
Corporation, including assumptions based on the Corporation's exploration
results to date in Argentina and political risk in Argentina. Actual results and
developments may differ materially from those contemplated by these statements
depending on, among other things, the inherent risks involved in the exploration
and development of mineral properties, the uncertainties involved in
interpreting exploration results and other geological data and the ability of
the Corporation to obtain the funds and resources required to carry out further
exploration. The forward-looking statements in this press release are made as of
the date of this release and the Corporation undertakes no obligation to update
publicly or revise any forward looking statements whether as a result of new
information or otherwise, except as required by applicable securities laws. The
Corporation undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of the Corporation or its financial
or operating results or (as applicable) its securities.

Kestrel Gold (TSXV:KGC)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Kestrel Gold (TSXV:KGC)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024