EDMONTON, ALBERTA -TheNewswire -May 7, 2020 - Green River Gold Corp. (the "Company")(CSE:CCR) (CNSX:CCR.CN)is excited to announce that it has purchased the placer rights to 19.51 hectares (the "Property") along the Swift River approximately 40 kms east of Quesnel, British Columbia. The Property is in the area of existing placer mines including the property immediately next to it that is currently in production. As part of its due diligence last mining season, the Company had an extensive opportunity to view the operations of the Property that is currently in production. The Property is permitted for 20,000m3of production per year for the next 5 years and mining can commence immediately.
The Company paid for the Property by a combination of $8,000.00 cash as well as the issuance of 500,000 units of the Company ("Units") at a deemed value of $0.06 per Unit. Each Unit consists of one Common Share of the Company (a "Common Share") and one-half of one Common Share purchase Warrant (each whole Common Share purchase Warrant, a "Warrant"). Each full Warrant will be exercisable to acquire one Common Share (a "Warrant Share")for a period of 24 months following the issuance date at an exercise price of $0.10 per Warrant Share.
In addition, further to its April 2, 2020 press release, the Company announces that it has staked an additional 175.34 hectares to further extend the Company's holdings at its Little Swift gold project.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims.
The Company controls a 100% interest in the flagship Fontaine Gold Project, a 100% interest in the Little Swift Gold Project and a 100% interest in the Sovereign Gold Project. The 8,200-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Gold Royalties Cariboo Gold Project (formerly Barkerville Gold Mines). Green River Gold Corp. also distributes equipment for the placer mining industry from its facility in the heart of the Cariboo mining district in Quesnel, BC.
Below is a current map of the Company's mining claims:
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Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR atwww.sedar.com
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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