RUGBY PROVIDES UPDATE ON ACTIVITIES IN RESPONSE TO COVID-19
April 09 2020 - 5:30AM
Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V:
RUG) reports that the Company is temporarily
suspending its exploration operations and reducing expenditures,
including salaries in response to the COVID-19 virus outbreak.
Mr. Bryce Roxburgh, the Company’s President and
CEO stated, “The safety of our employees, consultants and
contractors is of the utmost importance. Very importantly, I would
like to sincerely thank all our employees who have voluntarily
accepted substantial salary cuts”.
Mr. Roxburgh continued, “Rugby will continue to
monitor the situation and remains dedicated to following health
protocols to protect personnel. When it is safe to do so,
exploration will recommence.
“In the meantime, we are awaiting results from
sampling at El Zanjon, Argentina (see news release NR20-01 dated:
February 26, 2020). Results are expected to be available for
release in the coming weeks.”
The outbreak of the COVID-19 virus is also
negatively affecting government departments in Colombia and as a
result the grant of exploration titles awaited by Rugby will be
delayed.
The Company has implemented a work from home
policy for its employees and is supporting a small contractor crew
temporarily stranded in our site office in the Philippines due to
travel restrictions. The break in field activities will provide the
Company’s technical teams in Colombia and Argentina an opportunity
to review results to date and refine the 2020 exploration
programs.
About RugbyRugby is an
exploration company conducting “discovery stage” exploration on
highly prospective targets in Colombia, Argentina, the Philippines
and Australia. Importantly, Rugby controls a large portfolio of
projects and applications in Colombia that have considerable
potential for significant gold-copper discoveries.
The Company benefits from the experience of its
directors and management, a team that has either been directly
responsible for world-class mineral discoveries or have been part
of the management teams responsible for such discoveries. Prior
companies under their management included Exeter Resource
Corporation and Extorre Gold Mines Limited, which held significant
projects in South America. These companies were taken over by
Goldcorp (Newmont) and Yamana respectively.
For additional information you are invited to visit the Rugby
Mining Limited website at www.rugbymining.com.
Jon Hermanson, VP, Corporate
DevelopmentTel: 604.688.4941 Fax:
604.688.9532Toll-free: 1.855.688.4941 |
Suite 810, 789 West Pender St.Vancouver, BC Canada V6C
1H2info@rugbymining.com |
CAUTIONARY STATEMENTCertain of
the statements made and information contained herein is
“forward-looking information” within the meaning of the British
Columbia, Alberta and Ontario Securities Acts. This includes
statements concerning the Company’s plans at its projects including
the expected timing of drilling and/or geophysics programs,
prospectivity, high grade potential and potential for mineral
discoveries, the style or occurrence of the mineralization and
drilling costs which involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
information. In addition, the Company holds certain of its projects
under option agreements, which require expenditure and/ or drilling
requirements in order to maintain its interest. Should the Company
not be able to meet its obligations or renegotiate the agreements
it will lose its rights under the option agreement. Forward-looking
information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those
reflected in the forward-looking information, including, without
limitation, the effect on prices of major mineral commodities such
as copper and gold by factors beyond the control of the Company;
events which cannot be accurately predicted such as political and
economic instability, terrorism, pandemics or any other serious
global health problem that prevents the ability to do operations,
environmental factors and changes in government regulations and
taxes; the shortage of personnel with the requisite knowledge and
skills to design and execute exploration programs; difficulties in
arranging contracts for drilling and other exploration services;
the Company’s dependency on equity market financings to fund its
exploration programs and maintain its mineral exploration
properties in good standing; political risk that a government will
change, interpret or enforce mineral tenure, environmental
regulations, taxes or mineral royalties in a manner that could have
an adverse effect on the Company’s assets or financial condition
and impair its ability to advance its mineral exploration projects
or raise further funds for exploration; risks associated with title
to resource properties due to the difficulties of determining the
validity of certain claims as well as the potential for problems
arising from the interpretation of laws regarding ownership or
exploration of mineral properties in the Philippines and Colombia
and in the sometimes ambiguous conveyancing characteristic of many
resource properties, currency risks associated with foreign
operations, the timing of obtaining permits to conduct exploration
activities, the ability to conclude agreements with local
communities and other risks and uncertainties, including those
described in each of the Company’s management discussion and
analysis and those contained in its financial statements for the
year ended February 28, 2019 filed with the Canadian Securities
Administrators and available at www.sedar.com. In addition,
forward-looking information is based on various assumptions
including, without limitation, assumptions associated with
exploration results and costs and the availability of materials and
skilled labor. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to
place undue reliance on forward-looking information. Except as
required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
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 RELEASE
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