VANCOUVER, BC, Jan. 29,
2025 /CNW/ - P2 Gold Inc. ("P2" or the
"Company") (TSXV: PGLD) and (OTCQB: PGLDF) reports that it has
completed the sale of its Ball Creek Claims (the "Transaction")
(also known as the BAM Project) to Kingfisher Metals Corp.
("Kingfisher"), which was previously announced on December 5, 2024. Under the terms of the
definitive agreement, the Company received 1,515,151 common shares
in the capital of Kingfisher and C$950,000 in cash in exchange for the transfer of
the claims on the closing of the Transaction.
The Company plans to use the proceeds from the Transaction for
additional metallurgical test work on, and the permitting of
production water wells at, its Gabbs Project located on the Walker
Lane Trend in Nevada. The Company will provide additional
details of its plans as they progress.
About P2 Gold Inc.
P2 Gold is a mineral exploration and development company focused
on advancing its gold-copper Gabbs Project on the Walker Lane Trend
in Nevada. A positive preliminary economic assessment has
outlined a long-life, mid-size mine at Gabbs with annual average
production of 104,000 ounces gold and 13,500 tonnes copper over a
14.2-year mine life.
Neither the TSX Venture Exchange (the "Exchange") nor its
Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws that is intended to be
covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology. Such
forward-looking information includes, without limitation,
information with respect to the Company's expectations, strategies
and plans for its Gabbs Project including the Company's planned
expenditures and exploration activities.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made, including
without limitation, that the Exchange will approve the Transaction,
Kingfisher will complete a private placement of $1 million and the Transaction will close on or
before February 28, 2025, as well as
the other assumptions disclosed in this news release.
Furthermore, such forward-looking information involves a
variety of known and unknown risks, uncertainties and other factors
which may cause the actual plans, intentions, activities, results,
performance or achievements of the Company to be materially
different from any future plans, intentions, activities, results,
performance or achievements expressed or implied by such
forward-looking information, including without limitation, failure
to obtain Exchange approval of the Transaction, failure of
Kingfisher to complete a private placement of $1 million and the Transaction to close on or
before February 28, 2025, and risks
associated with mineral exploration, including the risk that actual
results and timing of exploration and development will be different
from those expected by management. See "Risk Factors" in the
Company's annual information form for the year ended December 31, 2023, dated March 21, 2024 filed on SEDAR at www.sedar.com
for a discussion of these risks.
The Company cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
SOURCE P2 Gold Inc.
