SASKATOON, SK, Oct. 25,
2022 /CNW/ - MAS Gold Corp. ("MAS Gold"
or the "Company") (TSX.V: MAS) announces that, subject to the
approval of the TSX Venture Exchange, it intends to reprice
17,077,881 share purchase warrants originally issued by the Company
on December 30, 2020 pursuant to a
nonbrokered private placement. The warrants were exercisable
into common shares of the Company at a price of $0.10 per common share and currently have an
expiry date of December 30, 2022.
The Company wishes to reprice the warrants to $0.045 effective the date of TSX Exchange
approval. All other terms of the Warrants, including expiry
date, will remain the same.
About MAS Gold
Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused
on advancing its gold exploration projects in the prospective La
Ronge Gold Belt of Saskatchewan.
MAS Gold operates four properties in the belt, including the
Preview-North, Greywacke Lake, Elizabeth
Lake and Henry Lake Properties totalling 35,175.6 hectares
(86,920.8 acres). These properties extend along the geologically
prospective La Ronge, Kisseynew
and Glennie Domains that make up the La Ronge Gold Belt in
northcentral Saskatchewan.
MAS Gold currently has five advanced deposits including the
North Lake, Greywacke North,
Preview SW, Contact Lake, and Point gold deposits.
The North Lake deposit hosts an
Inferred Mineral Resource of 18,100,000 t grading 0.85 g/t Au,
hence 494,000 contained ounces of gold (Godden, S, Thomas, D.
Tupper, D.: Technical Report on
the Mineral Resource Updates, North
Lake and Greywacke North Gold Projects, La Ronge Gold Belt,
Saskatchewan, Canada.; effective
date December 1, 2021). The Technical
Report about the updated Mineral Resource estimate was filed on
SEDAR January 12, 2022.
The Greywacke North deposit has a combined open pit and
underground Indicated Mineral Resource of 645,000 t averaging 4.90
g/t Au for 101,000 insitu ounces of gold (600,000 t at 4.89 g/t Au,
and 45,000 t at 5.03 g/t Au, respectively), plus a combined open
pit and underground Inferred Mineral Resource of 410,000 t
averaging 4.12 g/t Au for 55,000 insitu ounces of gold (35,000 t at
1.97 g/t Au, and 375,000 t at 4.33 g/t Au, respectively). The
Indicated and Inferred Mineral Resources were estimated using open
pit and underground cut-off grades of 0.65 g/t Au and 1.75 g/t Au,
respectively (Godden, S, Thomas, D. Tupper, D. Technical Report on the Mineral
Resource Updates, North Lake and
Greywacke North Gold Projects, La Ronge Gold Belt, Saskatchewan, Canada.; effective date
December 1, 2021). The Technical
Report regarding the updated Mineral Resource estimate was filed on
SEDAR January 12, 2022.
The Preview SW deposit hosts a historical Indicated Mineral
Resource containing 158,300 ounces of gold (2.61 million tonnes
grading 1.89 g/t Au) and a historical Inferred Mineral Resource
containing 270,800 ounces of gold (5.70 million tonnes grading 1.48
g/t Au), both based on a 0.50 g/t Au cut-off grade (Simpson, R. Technical Report, Preview SW Gold
Project, La Ronge, Saskatchewan;
effective date September 27,
2016). The Technical Report on the Mineral Resource estimate
was filed on SEDAR September 27,
2016, for Comstock Metals Ltd. (TSXV: CSL).
MAS Gold Corp.
Jim
Engdahl
Chief Executive Officer & Director
Jim@masgoldcorp.com
(306) 262-4964
For further information about MAS Gold Corp. please visit our
website and/or contact: Laurie
Thomas, Vice President of IR & Bus. Dev. at
laurie@masgoldcorp.com.
Caution Regarding Forward-Looking Information and
Statements:
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions, and expectations. They are
not guarantees of future performance. MAS Gold cautions that all
forward-looking statements are inherently uncertain, and that
actual performance may be affected by a number of material factors,
many of which are beyond their respective control.
Such factors include, among other things: risks and
uncertainties relating to MAS Gold's limited operating history, the
need to comply with environmental and governmental regulations,
results of exploration programs on their projects and those risks
and uncertainties identified in each of their annual and interim
financial statements and management discussion and analysis.
Accordingly, actual, and future events, conditions and results may
differ materially from the estimates, beliefs, intentions, and
expectations expressed or implied in the forward-looking
information. Except as required under applicable securities
legislation, MAS Gold undertakes no obligation to publicly update
or revise forward-looking information.
Neither 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 news release.
SOURCE MAS Gold Corp