TRU Precious Metals Completes Purchase of Claims Contiguous with Golden Rose Project
December 16, 2021 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 15, 2021, it has completed the acquisition of 100% ownership of a mineral license covering 200 hectares (the “Purchased Assets”) contiguous with the Company’s flagship Golden Rose Project (“Golden Rose”) (Figure 1).
As previously disclosed, the vendor of the Purchased Assets received $25,000 in cash and 135,000 common shares in the capital of TRU at a deemed price of $0.16 per common share as consideration. All such common shares of TRU are subject to a hold period expiring four months and one day from December 15, 2021. TRU has also granted the vendor a 2.0% net smelter returns royalty from any future mineral production on the Purchased Assets, of which 1.0% can be repurchased by TRU for $1,000,000.
As announced on November 18, 2021, TRU identified a large horseshoe-shaped IP chargeability anomaly in the King George IV area of Golden Rose, and carried out targeted diamond drilling in the area to test this and other IP geophysical targets. The horseshoe-shaped IP anomaly is located immediately on the eastern claim boundary of the Purchased Assets and thus increases the potential prospectivity of the Purchased Assets.
Figure 1: Purchased Mineral License & Recently-Staked Licenses
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The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange.
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt, and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and earlier-stage properties in the region. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/
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Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the prospectivity of the Purchased Assets, and to regulatory approval. These statements are based on numerous assumptions regarding the Purchased Assets and the execution and success of exploration plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Purchased Assets or at the Golden Rose Project; the exploration potential of the Purchased Assets and the nature and style of mineralization at same; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.