Jayden Moves Ahead on Storm Lake Acquisition
Vancouver, B.C. - TheNewswire - July 9, 2021 - Jayden Resources Inc. (TSXV:JDN) (OTC:PNMLF) (“Jayden” or the “Company”) further to the Company’s news releases of February 7, 2021 and April 9, 2021 wherein the Company announced its intent to acquire a 100% interest in the Storm Lake Gold Property (the “Property”) located on the Frotet-Evans Greenstone Belt in central Quebec, and the TSXV approval of the same.
Pursuant to the option agreement entered into between Company and Canadian Mining House (9219-8845 QC Inc.), Anna-Rosa Giglio and Greg Exploration Inc. (the Vendors), the Company has issued a total of 2,200,000 post-consolidated common shares and paid a total of $200,000 to the Vendors fulfilling its first obligation in acquiring the Property.
The Property consists of 48 contiguous claims that cover a gross area of approximately 2,610 hectares and is located in the middle of the Frotet-Evans Greenstone Belt which also hosts the former Troilus Mine, which during its mine life produced more than 2.0 million ounces of gold and nearly 70,000 tons of copper from 1996 to 2010 (Troilus Gold Corporate Presentation – Feb. 2021 – www.troilusgold.com). New discoveries by Troilus Gold Corp. (TSX:TLG) have them focused on mineral expansion (4.96Moz AuEq indicated plus 3.15Moz AuEq inferred – Troilus Gold Corporate Presentation – Feb. 2021) and the potential restart of the former mine.
As per the option agreement, the Company is also obliged to spend a minimum of $150,000 during the first year on exploration and development of the Property. In this regard, the Company has already taken steps to secure a geological team whom has started on the preliminary work needed to advance the project, including the necessary permitting for camp preparation and drilling. The Company has also engaged a separate geologist to prepare a National Instrument 43-101 Technical Report on the Property.
Technical information in this press release was reviewed by Jeannot Théberge Géo. (OGQ), recognized as a Qualified Person under the guidelines of National Instrument 43-101.
On Behalf of the Board:
President & CEO
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the Company's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Jayden Resources Inc. believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators
Neither 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.