VANCOUVER, Nov. 27, 2017 /CNW/ - Resolve Ventures Inc.
(TSX-V: RSV) (the "Company") is pleased to announce
that it has entered into an option agreement, where by the Company
may acquire a 100% interest in the Mary Property (the
"Property") located 30 kilometres southeast of Houston, British Columbia, Canada from two
arm's length vendors,.
The Property consists of 6,365 hectares and lies 1500 metres
east of the New Nadina block. The underlying geology of this claim
block is Cretaceous Kaslaka Group andesitic volcanics. These rocks
are overlain by Eocene Endako Group Goosley Lake Formation alkaline
volcanic rocks and Buck Creek Formation basaltic
volcanics. All small plug of the Eocene Goosley plutonic suite
intrudes the Cretaceous rocks. Historic exploration on the Mary
block included induced polarization surveying and follow up
percussion drilling of IP anomalies. Of the 22 percussion drill
holes completed in 1985, only 9 actually reached bedrock. Four of
those intercepted anomalous pathfinder elements. The IP anomalies
remain untested. (Source: BC Ministry of Mines Assessment Reports
14346 and 15967). Resolve cautions investors that this historical
exploration data has not been verified.
The Property appears to have seen additional historical
exploration. Resolve's technical team will review the assessment
record of historical work on the Mary Property. Based on the
findings of this review, an exploration program will be
designed to best assess and evaluate the potential.
Resolve Ventures, President and CEO Clive Massey stated: "We are very excited about
the acquisition of these claims in this emerging area play as it
puts us in a position to exploit some very interesting exploration
opportunities in an area proven to be rich with mineral
resources."
Property Transaction Terms:
Under the terms of the agreement, the Company can earn a 100%
interest in the Property by issuing 5,000,000 common shares in the
capital of the Company upon TSX Venture Exchange
("Exchange") approval and incurring a minimum $100,000 in exploration expenditures within the
first year. The vendors shall retain a 2% net smelter returns
royalty of which the Company may purchase 1% for $1,500,000.
The agreement is subject to Exchange approval. All shares
issued will be subject to a four month and one day hold period.
ABOUT RESOLVE VENTURES;
Resolve is a Vancouver based
publicly listed exploration company trading on the TSX Venture
Exchange. The company is led by a highly skilled management and
technical team with numerous previous successes in the junior
mining sector.
R. Tim Henneberry, P.Geo.,
Resolves's Geologist and a Qualified Person as defined by NI
43-101, has reviewed and approved the technical information
contained in this news release.
For further information on the Company, please email
cmassey@cmassey.ca
On Behalf of the Board of Directors of the Company,
Clive Massey
President, Resolve Ventures Inc.
(604) 664-6794
Neither TSX Venture Exchange, the Toronto Stock Exchange nor
their 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.
This press release contains "forward-looking information"
that is based on the Company's current expectations,
estimates, forecasts and projections. This forward-looking
information includes, among other things, statements with respect
to the Company's exploration and development plans. The words
"will", "anticipated", "plans" or other similar words and phrases
are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the Company's
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking information. Such factors include, but are not
limited to: uncertainties related exploration and development; the
ability to raise sufficient capital to fund exploration and
development; changes in economic conditions or financial markets;
increases in input costs; litigation, legislative, environmental
and other judicial, regulatory, political and competitive
developments; technological or operational difficulties or
inability to obtain permits encountered in connection with
exploration activities; and labour relations matters. This list is
not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully
and readers should not place undue reliance on such forward-looking
information. The Company disclaims any intention or obligation to
update or revise forward-looking information, whether as a result
of new information, future events or otherwise.
SOURCE Resolve Ventures Inc.
