VANCOUVER, Jan. 23, 2018 /CNW/ - Blue Moon Zinc Corp. (TSXV:
MOON; US OTC: BMOOF) (the "Company") is pleased to report
that the common shares of the Company are now quoted for trading in
the United States on the OTC Pink
Sheets under the trading symbol BMOOF. In addition, the Company's
common shares are eligible for delivery and depository services of
The Depository Trust Company (the "DTC") to facilitate electronic
settlement of transfers of its common shares in the United States. Securities that are
eligible to be electronically cleared and settled through the DTC
are considered "DTC eligible." This electronic method of clearing
securities speeds up the receipt of stock and cash, and thus
accelerates the settlement process for investors and greatly
reduces transactional costs for participating stock brokerages.
Investors can find the current Canadian financial disclosure of the
Company on www.sedar.com.
Effective January 1, 2018,
corporate tax rates in the United
States were reduced from 35% to 21%, among other changes
favoring US businesses. The Company's Blue Moon zinc deposit is
domiciled in the US and the corporate tax reduction is expected to
be beneficial to the project and the Company's Preliminary Economic
Assessment ("PEA") expected to be released in late Q1 2018.
Patrick McGrath, Chief Executive
officer, stated, "The US quotation with DTC eligibility should
enhance and simplify trading of our shares in the US. The Company's
Blue Moon Zinc deposit is based in the US and we believe being
quoted and tradable in the US is complementary. We also welcome the
recent US corporate tax reduction to 21% which we believe will
improve the economics in the upcoming PEA"
About Blue Moon
The 100% owned Blue Moon polymetallic deposit has a Mineral
Resource estimate of 3.7 million indicated tons with a grade of
8.3% zinc equivalence including approximately 377 million pounds of
zinc and 4.1 million inferred tons with a grade of 7.8% zinc
equivalence including approximately 395 million pounds of zinc with
significant credits of copper, silver and gold. The resource is
open at depth and along strike and historical metallurgical testing
indicates excellent recovery and a clean zinc concentrate. A NI
43-101 report detailing the resource and summarizing metallurgical
recoveries is available on the company's website
(www.bluemoonmining.com) and filed on SEDAR on November 13, 2017. The Company plans to advance
the Blue Moon project through to feasibility, permitting and
ultimately production.
Qualified Persons
Jack McClintock, P. Eng, a
Director of the Company, is a qualified person as defined by NI
43-101, has reviewed the scientific and technical information that
forms the basis for this press release.
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. Resource estimates included in
this news release are forward-looking statements. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions set forth in the
relevant technical report and otherwise, such statements are not
guarantees of future performance and actual results or developments
may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices for zinc,
the results of future exploration, uncertainties related to the
ability to obtain necessary permits, licenses and titles, changes
in government policies regarding mining, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Readers are cautioned not to
place undue reliance on this forward-looking information, which is
given as of the date it is expressed in this press release, and the
Company undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
The securities referenced in this news release have not and
will not be registered under the U.S. Securities Act of 1933 and
may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.
SOURCE Blue Moon Zinc Corp.
