BIG Hercules Metals Corp

TORONTO, April 19, 2022 /CNW/ - Bald Eagle Gold Corp. ("Bald Eagle" or the "Company") (TSXV: BIG) (OTCQB: BADEF) (FSE: 6W0) is pleased to announce the appointment of Dr. Tom Henricksen, B.Sc., Ph.D. to its Board of Advisors.

Dr. Henricksen is an exploration geologist with five decades of field experience and was the 2018 recipient of the Association for Mineral Exploration of British Columbia's Colin Spence Award for Excellence in Global Mineral Exploration. Dr. Henricksen received this prestigious award in recognition of his outstanding contributions to mineral exploration, and for his involvement in a multitude of significant global discoveries over the course of his career. Dr. Henricksen holds a B.Sc. in Geology from the University of Wisconsin, and a Ph.D. in Economic Geology from Oregon State University.

Dr. Henricksen has worked on 40 mineral exploration projects across various stages of development, spanning 14 countries and 6 continents. Most notably, he brings with him an intimate knowledge of the Company's flagship Hercules project, which was the basis of his Ph.D. thesis in 1974.

In 1983, he and his US Borax team discovered the Rock Lake stratiform copper-silver deposit in western Montana, eventually outlining approximately 150 Mt of 0.7% copper and almost 2 opt silver, in a Precambrian quartzite hosted deposit, now being developed by Hecla Mining Corp.

In 2003, he and his Rio Tinto crew in Peru acquired and explored the Corani silver polymetallic and Ollachea gold properties, both currently being developed for production.

In 2004 and 2005, Dr. Henricksen led the exploration team for Norsemont Mining in the development of the Constancia porphyry copper project in Peru, which eventually sold to Hudbay Minerals Inc. and is now in production. 

He served as senior field geologist for Apoquindo Minerals Inc., which in 2006 won a bid from Teck Resources to explore and develop the Zafranal copper-gold deposit in Peru, resulting in the discovery of a 400 million tonne resource.

In 2009, he and his associates Frank Duval and David Elliott, formed Midas Gold Corp. to acquire the Yellowpine gold-antimony project in Idaho, which Tom subsequently developed into a 130 Mt resource at 1.6 g/t gold. The project is now currently being developed for production by Perpetua Resources.

In 2012, Dr. Henricksen served as Vice President of Exploration for Aegean Metals Group Inc., and led the senior field team in identifying, evaluating, and ultimately acquiring two high-grade gold-copper prospects, the Hod Maden and Ergama deposits in Turkey. Hod Maden is currently on pace to become one of the most important producing mines in the region; a November 2021 Feasibility Study demonstrated the robust economic potential of a low-cost operation producing approximately 200k ounces of gold per year over a 13-year mine life, with an after-tax net present value of US$1.05B, 2-year payback period, and an IRR of 36%¹.

Tom has reviewed and evaluated numerous orogenic gold opportunities in Africa from 2013 to 2021, including the private Karakani project now being explored in Guinea.

In 2014, Dr. Henricksen entered into negotiations to acquire the Hercules project on behalf of a major mining corporation which he was consulting for at the time. Tom had worked on the Hercules project almost 40 years earlier and recognized the Jurassic-aged volcanic rocks which occur in a similar geological setting to that of many of his past discoveries. Despite numerous attempts to acquire the project, a tenable deal could not be reached between parties at the time. Tom's appointment to Bald Eagle's Board of Advisors will allow him to apply his extensive knowledge of Jurassic-aged volcanic precious metals deposits towards the advancement and development of the Hercules project.

"I am delighted to welcome Tom to our Board of Advisors," commented Chris Paul, Chief Executive Officer of Bald Eagle. "Dr. Henricksen is a brilliant geologist and brings a track record of major exploration success to the Company, having made multiple high-grade precious metal discoveries around the world. More specifically, Tom has in-depth knowledge of the Hercules project, its history, and its geological potential, having completed his Ph.D. on the subject in 1974. I have no doubt that the tremendous success that has followed Tom throughout his career – combined with his specific knowledge of the Hercules project – makes him the ideal candidate to bolster our technical team and unlock value for Bald Eagle shareholders."

Dr. Tom Henricksen commented: "I have followed this project for a long time and I'm thrilled to be able to contribute a geological understanding of the district, towards the Company's modern and systematic approach to exploration. The Bald Eagle team has done an exceptional job in consolidating a highly prospective land package, and I'm excited that it is finally receiving the attention it deserves. Experience has shown me that Jurassic-aged volcanic belts, such as those present at Hercules, are often very well-endowed with gold and silver. I look forward to the upcoming summer drill campaign, alongside the new and ambitious team, and 5 decades more experience under my belt."

Bald Eagle also announces that it has granted 1,000,000 incentive stock options (the "Options") to advisors and consultants of the Company, with an effective date of March 28, 2022. These Options vest immediately and will allow holders to purchase common shares in the Company at a price of $0.09 per share, for a period of up to five (5) years from the effective date.

Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company's management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company's expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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 press release.

SOURCE Bald Eagle Gold Corp.