Under the terms of the Option Agreements, the Company had the right to earn up to 100% interest in the
High Work Commitments and Costs: In accordance with the Option Agreements, these two
Equity Financing: Given the current state of the junior mining markets, while also considering valuation and dilution, raising sufficient capital to finance these two
Timely Action: Termination of the Option Agreements was a prudent step to maintain good standing of certain claims while considering both the Company and the Optionors best interests.
Focus: Terminating the Option Agreements now means the Company can focus its capital and efforts on its 100% owned projects in
Stars & Stellar - A unique opportunity to unlock a
The Company will now focus its efforts on its early-stage porphyry copper-gold- silver-molybdenum properties, Stellar & Stars projects located in
The Stars discovery exhibits high-grade, drill ready targets which require further exploration and can be accessed year-round. The Company acquired 100% of all three mineral tenures in the Stars project through two acquisitions, see the press releases dated
Historical Drilling Highlights at 'Tana Zone' Stars Project
DD18SS004 - 204 m of 0.45 % Cu from 23.5 m to 227.7 m, including 40.2 m of 0.93% Cu and 3.27 g/t Ag.
DD18SS010 - 405 m of 0.20 % Cu from 29.6 m to 435.0 m, including 30.5 m of 0.40% Cu and 1.34 g/t Ag.
DD18SS013 - 73 m of 0.30 % Cu from 54.3 m to 127.4 m, including 15.5m of 0.40% Cu and 1.46 g/t Ag.
DD18SS015 - 67 m of 0.35 % Cu from 231.0 m to 298.1 m, with an additional 9.9m (444.4 m - End of Hole) interval of 0.45 % Cu.
Source:
Contact:
Tel: (403) 585-9875
Email: cmacdonald@aurwestresources.com
Web: www.aurwestresources.com
About
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in
Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as 'forward-looking statements'. Forward-looking statements may be identified by words including 'anticipates', 'believes', 'intends', 'estimates', 'expects' and similar expressions. The Company cautions readers that forward-looking statements, including without limitation: additional exploration of the properties may not locate significant gold mineralization, the exploration program may not be completed as planned or at all; the Company may not be able to assemble a seasoned exploration team, the path finder elements may not be indicative of gold mineralization;; the Company's ability to raise additional funding to conduct exploration; receipt of permits to conduct the exploration plans and matters relating to the Company's future operations and business prospects; certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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