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Nevada Exploration Clarifies Press Release
RENO, Nev., June 03, 2020 (GLOBE NEWSWIRE) -- At the request of IIROC (Investment Industry Regulatory Organization of Canada), Nevada Exploration Inc. (“NGE” or
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[{"type":"text","content":" RENO, Nev., June 03, 2020 (GLOBE NEWSWIRE) -- At the request of IIROC (Investment Industry Regulatory Organization of Canada), Nevada Exploration Inc. (“NGE” or the “Company”) is pleased to clarify and provide additional information related to its June 1, 2020, news release (the “Original Press Release”). Geologic context of nearby deposits The Company wishes to clarify the information provided about the nearby Lone Tree and Marigold deposits, the sizes of which were rounded to the nearest million ounces and presented simply as 5 Moz and 8 Moz respectively, in the Original Press Release: Lone Tree produced 4.60 Moz of gold from 1991 to 2015; and Marigold produced 3.24 Moz of gold from 1989 up to and including 2016; and at December 31, 2016, SSR Mining published a 4.98 Moz Indicated Mineral Resource (348.30 Mt at 0.45 g/t). Mineralization hosted on adjacent and/or nearby projects is not necessarily indicative of mineralization hosted on the Company’s property. Disclosure of an Exploration Target The Company’s disclosure that it believes its results to date have confirmed that its Kelly Creek Project has the potential to host a gold endowment constitutes disclosure of an exploration target, and thus is subject to NI 43-101, 2.3(2) – Restricted Disclosure. As per NI 43-101, 2.3(2), until work at the Company’s district-scale Kelly Creek Project has progressed to focusing on specific exploration targets for which target-specific ranges for tonnage and grade can be established, the Company wishes to retract its comments on the specific range of “5 – 10 Moz” for the potential size of the mineral endowment at the Project, as detailed in the Original News Release. For further information, please contact: Investor RelationsNevada Exploration Inc.Email: [email protected]: +1 (604) 601 2006Website: www.nevadaexploration.com Wade A. Hodges, CPG, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement on Forward-Looking Information: This news releas...