/THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN
Highlights
- The
C$3,600,000 investment was made by a strategic investor with a long term outlook on Nevada King as it continues to grow and enhance it's foothold along the Battle Mountain Trend, Nevada. - With the completion of this financing, Nevada King has working capital in excess of
C$20-million going into it's planned drilling.
The proceeds of the Private Placement will be used to advance Nevada King's development and exploration stage assets and for other general corporate purposes. The Common Shares issued pursuant to the Private Placement will be subject to a hold period under applicable Canadian securities law expiring on
Approval of the Private Placement was received from the
The Common Shares issued have not been registered under the
About
Nevada King is the third largest mineral claim holder in the
Table 1-1: Tabulation of Mineral Resources at
Resource Category | Tonnes | Au | Contained | Ag | Contained |
Measured | 4,130 | 1.51 | 200 | 14.0 | 1,860 |
Indicated | 6,910 | 1.17 | 260 | 10.6 | 2,360 |
Measured + Indicated | 11,000 | 1.30 | 460 | 11.9 | 4,220 |
Inferred | 5,310 | 0.83 | 142 | 7.3 | 1,240 |
A drill program will commence shortly at
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Please see the Company's website at www.nevadaking.ca.
Cautionary Statements Regarding Forward Looking Information
Neither the
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's use of proceeds from the Private Placement, the Company's exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
SOURCE
© Canada Newswire, source