Sonoro Defers Balance of Hilltop Expenditures
January 4, 2018 (Source) — Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO) (OTCQB: SMOFF), announces that the Property Option & Joint Venture Agreement for the Hilltop Gold Project in Alaska, between Northern Empire Resources Corp. and Sonoro has been amended to enable Sonoro to defer the balance of the 2017 exploration expenditures until 2018. To date, Sonoro has contributed $286,833 against the 2017 exploration budget of $500,000. In consideration for deferring the $213,167 balance of the 2017 exploration expenditures, Sonoro will issue 100,000 shares to Northern Empire, subject to acceptance for filing by the TSX Venture Exchange.
“We are pleased that Northern Empire has accommodated Sonoro’s request to defer the balance of the 2017 exploration expenditures into 2018,” said Kenneth MacLeod, President and CEO of Sonoro. “We look forward to continuing the exploration program during 2018.”
About the Hilltop Gold Project:
Hilltop is an exploration-stage gold project located 70 km southeast of Fairbanks, Alaska. Gold producers in the region are Sumitomo’s Pogo mine located 75 km to the east and Kinross’ Fort Knox mine located 135 km to the north. The 31,960-acre (12,836 hectares) Hilltop property is bordered on the south by the Richardson highway and is close to high-power electrical transmission lines and the Trans-Alaska pipeline. Access into the interior of the property from the Richardson highway is via a new system of logging roads and trails which makes most points within Hilltop accessible for exploration activities. Northern Empire has granted Sonoro an option to earn a 60-per-cent interest in Hilltop through the expenditure of $3-million on exploration activities and the issuance of 1,000,000 Sonoro shares to Northern Empire prior to Dec. 31, 2019.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a TSX Venture Exchange listed (TSXV: SMO) (OTCQB: SMOFF) exploration and development company with a portfolio of exploration-stage precious metals properties in Mexico and Alaska.
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On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
President & CEO
Forward Looking Statement Cautions: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the continuation and completion of the exploration program at the Hilltop Gold Property, located in Alaska. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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