Pistol Bay Acquires Land Package in the Greenstone Belt in the James Bay Region, Quebec
15 Janeiro 2020 - 11:38AM
Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink
Sheet symbol SLTFF) (“Pistol Bay” or the “Company”) is pleased to
announce that it has entered into an option agreement with an arm’s
length vendor to acquired a land package in the James Bay Region of
Quebec.
The land package comprises of 1690 hectares and
is located 12.5 kilometers South West of the recent Azimut
Exploration discovery. This property is on strike on the same
greenstone belt as the recent Azimut Exploration Inc. discovery.
The Elmer property of Azimut Exploration and is separated from
Pistol Bay property by the Dios Exploration property in that
region.
“Azimut's management considers these results to
be among the most significant gold exploration results in the James
Bay region since the 2004 discovery of the Eleonore deposit by
Virginia Gold Mines. The Eleonore mine is currently owned and
operated by Newmont.” (See AZM.V News release Jan 14,
2020)
Pistol Bay can earn a 100% interest in the
Property by issuing 1,000,000 common shares and paying a total of
$7,000 on the date of approval. A 2% NSR has been granted to the
vendor. Pistol Bay has an option to buy back1% NSR from the vendor
by paying $500,000 to the vendor.
This transaction is subject to TSX Venture Exchange approval.
All shares issued will be subject to a hold period expiring four
months plus one day from the date of approval.
About Pistol Bay Mining
Inc.
Pistol Bay Mining Inc. (TSXV:PST) is a
diversified Junior Canadian Mineral Exploration Company with a
focus on gold and base metal properties in North America, notably
the Red Lake district of Ontario. For additional information please
visit the Company website at www.pistolbaymininginc.com or contact
Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
Charles Desjardins, President and Director
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 Statements:
Statements included in this announcement,
including statements concerning of the Company’s plans, intentions
and expectations, which are not historical in nature are intended
to be, and are hereby identified as, “forward-looking statements”.
Forward-looking statements may be identified by words including
“anticipates”, “believes”, “intends”, “estimates”, “expects” and
similar expressions. The Company cautions readers that
forward-looking statements, including without limitation those
relating to the Company’s future operations and business prospects,
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the
forward-looking statements.
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