Vancouver,
Canada -- June 29, 2021 -- InvestorsHub NewsWire
-- Makara Mining Corp. (CSE: MAKA; FSE: MK0; OTC: MAKAF) ("Makara"
or the "Company")
is pleased to
provide the following
updates on its corporate and
exploration
activities
in Canada and the
United States.
Financing Update
Since
Makara's last press release
on
March
29,
2021, the
Company has been working on
exploration planning for the 2021 season and particularly the
necessary financing to do the required major exploration work.
Makara is
in talks with various groups with respect to the financing
of drilling work
on its
large Yukon and
Nevada mineral claims.
The Company's focus remains on Gold/Copper
porphyry systems which also includes the vein systems found
proximal to porphyry centres. Funds raised will mainly be used
on core and RC drilling programs
with some spend on further soil geochemistry, geological
mapping
and
geophysics.
Yukon Mining Updates
There has been more positive
news on the Yukon's
Resource
Gateway Project, located in the Dawson
Range. The
Canadian government, in partnership with the Yukon provincial
government, recently announced that construction for the new
roadway has commenced. The project, which is estimated to cost
$469 million, will connect Makara to major
transportation networks in the area and will add economic and
logistical benefits for the Company. The Yukon
Government's announcement comes after
careful consideration and consultation with the area's First
Nations peoples. The Resource Gateway
Project is
scheduled to be completed by 2024.
https://yukon.ca/en/doing-business/funding-and-support-business/learn-about-yukon-resource-gateway-project
Adjacent Project Significant Announcements
Companies engaged in mineral
exploration adjacent to Makara's land positions in the Yukon and
Nevada have also made the following significant
announcements:
Yukon
The
hyperlinks below discuss exploration and corporate
activities by Western Copper and Gold at their large Casino
porphyry copper-gold property. Casino is located
approximately 10 km to the NW of Makara's Yukon
projects.
https://westerncopperandgold.com/news-and-resources/news-release/western-copper-and-gold-announces-positive-pea-on-casino/
https://westerncopperandgold.com/news-and-resources/news-release/western-copper-and-gold-announces-completion-of-c25-6-million-strategic-investment-by-rio-tinto/
Nevada
The hyperlink
below discusses exploration activity and past results at the P2
gold/copper property located approximately 4 km to the NW of
Makara's Gabbs, Nevada
Project.
https://www.globenewswire.com/news-release/2021/03/12/2191811/0/en/P2-Gold-Files-Technical-Report-on-the-Gabbs-Project-Nevada.html
Qualified
Person
Grant Hendrickson,
P.Geo., the Company's Chief
Executive Officer, is the 'Qualified Person' under National
Instrument 43-101 and has approved the scientific and technical
information contained in this news release.
About the
Company
Makara Mining Corp. (CSE: MAKA; FSE: MK0; OTC: MAKAF) is a mineral exploration company
focused on the acquisition, exploration
and development
of gold properties. The Company is based in Vancouver, B.C. and
holds options over the Rude Creek Property and Idaho Creek Property
located in the Yukon, Davis and Paradise Valley claims located in
Nevada. Additional information about the Company is available
at
www.makaramining.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
Grant Hendrickson
Director and Chief Executive
Officer
Telephone:
604-372-3707
Email: grant@makaramining.com
Forward-Looking
Statements
This news release
contains certain forward-looking statements within the meaning of
applicable securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, and
statements respecting the Company's financing
activities and mineral exploration programs, recent developments on the
Yukon's Resource Gateway Project and the exploration programs being
undertaken by Western Copper and Gold and P2 are "forward-looking
statements". Forward-looking statements are subject to
a number
of risks
and uncertainties, including those detailed from time to time in
filings made by the Company with securities regulatory authorities,
which may cause actual outcomes to differ materially from those
discussed in the forward-looking statements. These factors should
be considered carefully,
and readers are
cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements and information
contained in this news release are made as of the date hereof and
the Company undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether
as a result
of new
information, future events or otherwise, unless so required by
applicable securities laws.
The
Canadian Securities Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
