TORONTO, July 25, 2017 /CNW/ - Richmond Minerals Inc.
(TSX-V: RMD) ("Richmond") is pleased to announce
that it has completed its previously announced acquisition (see
news release dated June 27, 2017) of
a 100% undivided interest in five (5) unpatented mining claims and
a 50% undivided interest in thirty-five (35) unpatented mining
claims (the "Ridley Lake Properties") situated in the mining
district of Porcupine, in the township of Rollo, Ontario (the "Transaction") from a
private party.
As a result of the Transaction, Richmond now owns 100% of the Ridley Lake
Properties.
The securities issued and issuable as consideration for the
Transaction will be subject to a four month and one day statutory
hold period.
Cautionary Statements
Neither the TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this news
release.
This news release contains forward-looking information that
involves substantial known and unknown risks and uncertainties,
most of which are beyond the control of Richmond. Forward-looking statements include
estimates and statements that describe Richmond's future plans, objectives or goals,
including words to the effect that Richmond or its management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as "believes", "anticipates", "expects",
"estimates", "may", "could", "would", "will", or "plan". Since
forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are
based on information currently available to Richmond, Richmond provides no assurance that actual
results will meet management's expectations. Risks, uncertainties
and other factors involved with forward-looking information could
cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward- looking information. Forward looking information
in this news release includes, but is not limited to, Richmond's objectives, goals or future plans,
statements, details of the exploration results, potential
mineralization, the company's portfolio, treasury, management team
and enhanced capital markets profile, the proposed private
placement, the timing of the Transaction, the estimation of mineral
resources, exploration and mine development plans, timing of the
commencement of operations and estimates of market conditions.
Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited
to, failure or inability to complete the Transaction and the
Offering on the terms as announced or at all, regulatory approval
processes, failure to identify mineral resources, delays in
obtaining or failures to obtain required governmental, regulatory,
environmental or other project approvals, political risks,
inability to fulfill the duty to accommodate First Nations and
other indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes
in equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of
projects, capital and operating costs varying significantly from
estimates and the other risks involved in the mineral exploration
and development industry, and those risks set out in Richmond's public documents filed on SEDAR.
Although Richmond believes that
the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all.
Richmond disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
other than as required by law.
SOURCE Richmond Minerals Inc.