Cava Resources Inc. Completes Acquisition of Gold Rush Cariboo Inc. Including the Horseshoe Bend Alluvial Gold Project and Option on 16 Additional Properties

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[{"type":"text","content":"Cava Resources Inc. Completes Acquisition of Gold Rush Cariboo Inc. Including the Horseshoe Bend Alluvial Gold Project and Option on 16 Additional PropertiesToronto, Ontario--(Newsfile Corp. - February 13, 2018) - Cava Resources Inc. (TSXV: CVA) (\"Cava\" or the \"Company\") announces that it has completed the acquisition of all of the issued and outstanding shares of Gold Rush Cariboo Inc. (\"Gold Rush\"), which has previously entered into an agreement with Goldlands Inc. (\"Goldlands\") with respect to the purchase of the alluvial gold and platinum mining project known as the Horseshoe Bend project consisting of one Placer Lease and six Placer Claims totaling 254.9 acres. In addition, Gold Rush has acquired an option to acquire an additional 16 adjacent properties totaling approximately 8,000 acres which are held by Goldland.As consideration for the acquisition of all of the issued and outstanding shares of Gold Rush Cariboo Inc., Cava has (i) issued 12,600,000 common shares of Cava to the shareholders of Gold Rush; and (ii) issued a promissory note to Goldlands in the amount of $2,250,000, which is convertible into common shares of Cava at a conversion price of $0.40 per share for a total of 5,625,000 common shares if fully converted. The completion of the Gold Rush transaction follows the closing of Cava's financing which was announced on February 9, 2018 and raised a total of $1,740,000. In connection with Cava's completion of the acquisition of Gold Rush, Cava has also completed the transaction with Goldlands as described above, including the purchase of the Horseshoe Bend project.HIGHLIGHTS\"Horseshoe Bend\" Acquisition & Option on over 16 alluvial gold properties in southwest British Columbia comprising over 8,000 acresThe properties are all located in southwest British Columbia just north of Likely, BC, approximately 52 kilometres southeast of Quesnel, BC in the heart of the historic Likely- Barkerville Gold Camp. Historic placer gold production in the Cariboo has been estimated at 2.5 to 3 million ounces as of 1993.1 The placer gold was recovered from pre -glacial and inter glacial gravels in buried paleo channels of modern stream valleys. These placer deposits have been speculated to originate from underlying bedrock gold deposits and comsiderable exploration has been directed at exploring for the source of these ...

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