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    GGLD   CA3698981014

GENERAL GOLD RESOURCES INC.

(GGLD)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

General Gold Resources Fully Permitted for Drilling, Mobilizes Rigs on Clark's Brook Property, Newfoundland

05/18/2021 | 07:05am EDT

Vancouver, British Columbia--(Newsfile Corp. - May 18, 2021) - General Gold Resources Inc. (CSE: GGLD) (formerly, CellStop Systems Inc.) (the "Company") is pleased to announce that it has received all drilling permits needed to commence its current Clark's Brook exploration program. The Clark's Brook property is comprised of 31 claim units in central Newfoundland and surrounded on three sides by the Queensway Project (see map below), currently being explored and drilled by New Found Gold Corp.

"Here at General Gold we are excited to continue to explore Clark's Brook, especially given all of the positive activity currently underway near us in Newfoundland. Our current program is fully funded and will follow up on the successes of the previous drill campaigns undertaken in 2017-2019. There has never been a better time to be exploring in Newfoundland. The Fraser Institute clearly agrees, recently naming Newfoundland and Labrador among the top ten worldwide mining jurisdictions," said President, Michelle Gahagan.

The Clark's Brook property consists of claims originally staked in 2016, covering two auriferous showings first discovered in 2003.

As part of the earlier geological mapping and prospecting program, discoveries were made at both the Clark's Brook East ("CBE") and West ("CBW") zones. On the CBE gold zone, seven representative grab samples were attained, each comprised of material from several mineralized boulders that assayed between 2.98g/t and 24.5g/t gold with an average of 7.93g/t gold. The CBW gold zone discovery was first made in mineralized boulders returning 8.9g/t and 9.28g/t gold.

The gold mineralization on the CBE area occurs in moderately to strongly silicified siltstones brecciated by a network of thin, commonly vuggy quartz veins. Boulders at the site, ranging from 0.5 to 2m3 in size, host 15-25% vein material with trace to minor pyrite and arsenopyrite. Grab samples range between 0.25g/t and 24.5g/t, with elevated silver, molybdenum, arsenic and antimony. The underlying bedrock contains less mineralization and silicification with smaller and less concentrated vein material but still carries gold mineralization to 1.3g/t gold. At the CBW zone, grab samples of outcrop and boulders returned assays ranging from anomalous to 9.28g/t gold with anomalous values in silver, lead, zinc and cadmium.

Garry Clark, P. Geo., of Clark Exploration Consulting, is the "qualified person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7631/84403_gg1.jpg


Clark's Brook Map

To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/7631/84403_generalgold1.jpg

About General Gold Resources Inc.

General Gold Resources Inc. is an independent mineral exploration company based in Vancouver, British Columbia that is engaged in the business of exploring for and evaluating mineral properties. General Gold is currently exploring the 770 hectare Clark's Brook Property in central Newfoundland. The property has been the subject to previous exploration which resulted in gold samples of up to 19.25 g/t with a gold average of 4.08 g/t.

For further information, please contact:

General Gold Resources Inc.
Michelle Gahagan, President
T: (604) 639-4452
E: mgahagan@intrepidfinancial.co.uk

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the grant of incentive stock options. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

The CSE has in no way passed upon the merits of the proposed transactions and neither has approved nor disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84403


ę Newsfilecorp 2021
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Financials
Sales 2020 - - -
Net income 2020 -0,03 M -0,03 M -0,03 M
Net Debt 2020 0,14 M 0,11 M 0,11 M
P/E ratio 2020 -11,3x
Yield 2020 -
Capitalization 9,44 M 7,63 M 7,63 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 89,4%
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Managers and Directors
Michelle Gahagan President, Chief Executive Officer & Director
Michael Charles Peter Curtis Independent Director
James E. Newall Director
James Garnet Clark Director
Kelsey Chin Chief Financial Officer & Secretary
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