Also, due to strong demand, the private placement has been upsized to
In connection with this first tranche closing, the Company paid cash finder's fees of
All securities issued under the private placement will be subject to a four month hold period expiring on
The proceeds will be used for exploration and development of the Company's properties and general working capital.
As announced in July of 2023, 8 of 9 holes drilled at the Dios Padre property intersect the targeted breccia zone down-dip and along strike to both the east and west from REG-22-01 with room for expansion in all directions. Breccia appears to widen with increased depth. The 10th hole, REG-23-22 targets a potential up-dip extension of the mineralized zones 200m to the west of the discovery area coincident with the strongest chargeablilty anomaly detected in the 2023 IP survey. Significant concentrations of sulphide (dominantly Pyrite) are found coincident with this zone.
The assay results for 6 of the above holes into the breccia zone and 1 hole into the strong chargeability anomaly will be released shortly.
Contact:
Tel: 1-604-684-6730
Email: RSMX@kincommunications.com
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release includes certain forward-looking statements and forward-looking information (together, 'forward-looking statements'). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the use of proceeds of the private placement by the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that regulatory changes, fundraising, and risk associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management and that the risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
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