TRU NEWS
All disclosure filings, including news releases and financial documents can be found on the TRU Precious Metals SEDAR page.
TRU Precious Metals provides update on summer 2021 exploration program
Fredericton, New Brunswick – July 30, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to provide a comprehensive update on its exploration program across its properties in the Central Newfoundland Gold Belt. The Company also announces the results of its annual and special shareholder meeting held on July 29, 2021 (the “Meeting”).
Fredericton, New Brunswick – July 30, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to provide a comprehensive update on its exploration program across its properties in the Central Newfoundland Gold Belt. The Company also announces the results of its annual and special shareholder meeting held on July 29, 2021 (the “Meeting”).
The Company is continuing its systematic program of soil sampling, till sampling, geological mapping and prospecting as the Golden Rose Project becomes its exploration focus for the remainder of the summer field season. Almost 2,000 field samples have been submitted for geochemical analysis, with results pending over the next 6-8 weeks. Meanwhile, the Company is also preparing to carry out an airborne geophysical survey over recently-acquired portions of the Golden Rose Project, with such survey expected to begin in early August.
GoldSpot Discoveries Corp., a technical services provider to the Company, has made its preliminary target presentation to the Company, and is also completing geological modeling of the South Woods Lake Gold Zone (“SWL Gold Zone”), where historical drilling over a 550 metre (m) long section of a felsic intrusive previously confirmed the presence of significant gold mineralization. This geological modeling will aid the Company in selecting drill targets at the SWL Gold Zone. The Company is also applying for permitting and securing a drilling contractor with a view to carrying out its previously-disclosed 5,000 m drill program at the Golden Rose Project, expected to commence in October 2021. The drill program will focus on infilling and expanding the gold mineralized felsic intrusive at the SWL Gold Zone, and will also target the claims optioned by TRU on July 13, 2021, on which the Company found visible gold grains and a nearby gossan.
On July 7, 2021, the Company announced the completion of its phase 1, 2,577 m drilling program at its Twilite Gold Project, focusing on a previously-identified target now called the Fort Knox Gold Zone. Core cutting and sample submission, which were being carried out on an ongoing basis, have been completed this week. Results are expected on a rolling basis over the next approximately 6 weeks and will be publicly disclosed in batches as previously reported.
Early-Stage Properties
On May 25, 2021, the Company announced a phase 1 exploration program at its Gander West property, located approximately 16 kilometres from New Found Gold Corp.’s Queensway Project. All rock and soil geochemical results from the limited-scale, orientation-level field program have now been received, with results still outstanding from nine till samples submitted for gold grain analysis. The best result from rock sampling was 395 parts per billion (ppb) gold (Au) from a grab sample. The best results from 118 soil samples were 52 ppb and 31 ppb Au. Results are being plotted for interpretation and to determine where additional infill sampling or other field follow-up may be warranted.
On June 17, 2021, the Company announced that it had completed a property-wide targeted soil survey at its Rolling Pond property bordering the Queensway Project, which was designed to provide the Company with another layer of geochemical data in prospective areas after compilation of historic geophysics, diamond drilling and prospecting. To date, the Company has received results for approximately one-quarter of its soil samples, with the best results being 61 and 34 ppb Au, and has also received all rock grab sample results with none being significant. Once all outstanding results have been received over the next several weeks, the Company will determine whether and where ground follow-up may be warranted.
In early July 2021, the Company completed an orientation-level soil sampling and prospecting program at its Stony Lake property, located 5 to 10 kilometres south of the Twilite Gold Project. In total, 171 soil samples and 39 rock grab samples were collected, with results expected over the next approximately 6 weeks.
Meeting Results
The Company is also reporting voting results from the Meeting. Shareholders approved all routine items of business, including electing each of the directors nominated by management, namely Joel Freudman, Damian Lopez, Barry Greene, David Hladky and Colin Sutherland. In terms of special items of business, shareholders approved the Company’s stock option plan and the continuance of the Company from Alberta into Ontario, but not the proposed restricted share unit plan.
National Instrument 43-101 Disclaimers
The rock grab, soil, and float samples presented are selective by nature, and values reported may not represent the true grade or style of mineralization across the mineral properties in question. These potential grades are conceptual in nature; there has been insufficient exploration by the Company at any TRU property to define a mineral resource; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource.
Barry Greene, P.Geo. is a qualified person as defined by National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The Company has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and 3 under-explored properties including its Rolling Pond Property (under option) bordering New Found Gold Corp.’s high-grade Queensway Project. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s LinkedIn profile at https://ca.linkedin.com/company/resurgent-capital-corp
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: IR@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the methods and timing for exploring the Company’s mineral properties, the prospectivity and mineralization of such properties, and permitting processes. These statements are based on numerous assumptions regarding the execution and success of exploration plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s properties; the exploration potential of the Company’s properties and the nature and style of mineralization at same; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals completes purchase of Stony Lake Property in Central Newfoundland gold belt
Fredericton, New Brunswick – December 16, 2020 – TRU Precious Metals Corp. (TSXV: TRU OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 23, 2020, it has completed the indirect purchase of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
Fredericton, New Brunswick--(Newsfile Corp. - December 16, 2020) – TRU Precious Metals Corp. (TSXV: TRU OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 23, 2020, it has completed the indirect purchase of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
The Stony Lake Property is located approximately 5-10 kilometres (km) south of the Company’s flagship Twilite Gold Project and consists of 107 claims covering 2,675 hectares.
TRU Co-Founder and CEO Joel Freudman commented: “With the Stony Lake Property now secured, TRU has established a district-scale presence in the Central Newfoundland Gold Belt. With our other properties at Twilite Gold, Rolling Pond, and Gander West we consider this portfolio ready for advancement and potential monetization. We are in the midst of planning and budgeting for corporate and exploration initiatives in 2021, and head towards the new year with significant momentum, a solid working capital base, and a sound capitalization structure, all of which will help TRU take advantage of opportunities to unlock shareholder value.”
Figure 1: TRU Newfoundland Gold Exploration Property Portfolio
As previously disclosed, the vendors of the Purchased Assets received an aggregate of 3,350,000 common shares in the capital of TRU at a deemed price of $0.30 per share as consideration for the Purchased Assets. All TRU shares issuable for the Stony Lake Property will be subject to a hold period expiring four months and one day from December 15, 2020.
The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities and has assembled a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, and on the OTCQB Venture Market under the symbol “TRUIF”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
To connect with TRU Precious Metals Corp. via social media, below are links:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
Linkedin
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals to acquire Stony Lake property in Central Newfoundland gold belt
Fredericton, New Brunswick – November 23, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that its wholly-owned subsidiary has entered into an asset purchase agreement dated November 20, 2020 (the “Purchase Agreement”) with several arm’s length vendors (the “Vendors”), in respect of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
Fredericton, New Brunswick – November 23, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that its wholly-owned subsidiary has entered into an asset purchase agreement dated November 20, 2020 (the “Purchase Agreement”) with several arm’s length vendors (the “Vendors”), in respect of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
The Stony Lake Property is located approximately 5-10 kilometres (km) south of the Company’s flagship Twilite Gold Project and consists of 107 claims covering 2,675 hectares.
TRU Co-Founder and CEO Joel Freudman commented: “We view the Stony Lake Property as the final mineral property investment in what is only the first phase of our value creation plan for our Newfoundland Gold Exploration portfolio. This acquisition further bolsters TRU’s district-scale presence in the Central Newfoundland Gold Belt, along with our other properties at Gander West, Twilite Gold, and Rolling Pond.”
Geological Description
Historical lake sediment surveys at the Stony Lake Property show anomalous gold, arsenic, and antimony, and a radiometric survey shows potassium anomalies suggestive of areas of alteration. The geological environment is consistent with an epithermal model for gold mineralization in areas of Silurian, subaerial volcanism and extensional tectonics, including extensive units described as pyritic rhyolite. Two large lobes of sericitized/silicified altered rhyolite measuring approximately 4km x 3km and 3.5km x 3.6km were mapped in the late 1980’s. Work by Battle Mountain Canada Inc. (“Battle Mountain”) in 1989 and 1990 identified a new mineralized zone called the “Cliff Showing”. It consists of strong sericitization and pervasive silicification associated with disseminated pyrite and arsenopyrite mineralization with weak gold values (Source: Battle Mountain (Canada) Inc. Geology and Geochemistry of the Rattling Brook Property in Newfoundland Department of Natural Resources: Geofiles 002D/0228).
The Stony Lake Property shares an overall tectonic and temporal similarity with the Pagingo / Drummond Basin deposit formerly operated by Battle Mountain in Queensland, Australia. The Drummond Basin hosts a number of significant, high-grade epithermal gold deposits, with the most notable being the approximately 3 million ounce Pagingo field (Source: Andromeda Metals website). This represents a sizable, comparable exploration model.
The Stony Lake Property has not been recently explored. However, a 1989 till sampling program by Battle Mountain carried out over an area with the highest disseminated pyrite/arsenopyrite enrichment produced 7 samples bearing visible gold, out of a total of 37, which results were not duplicated in a 1990 program (Source: Battle Mountain (Canada) Inc. Geology and Geochemistry of the Rattling Brook Property in Newfoundland Department of Natural Resources: Geofiles 002D/0228). Battle Mountain did not drill test the prospective areas but concluded that arsenic +/- gold +/- antimony bedrock anomalous areas in the Cliff Showing and the area southeast of Miguel Hill, together with their associated surficial geochemical anomalies, may be indicative of an upper arsenic zone in an otherwise concealed epithermal system. Consistent with Battle Mountain, the target for the Stony Lake Property would be a buried epithermal system below the extensive pyritic/arsenopyritic lithocap exposed at the Cliff Showing and elsewhere on the Stony Lake Property.
Figure 1: Stony Lake Property Area Map
Terms of the Purchase Agreement
Pursuant to the Purchase Agreement, the Vendors will receive an aggregate of 3,350,000 common shares in the capital of TRU at a deemed price of $0.30 per share as consideration for the Purchased Assets. All TRU shares issuable under the Purchase Agreement will be subject to a hold period expiring four months and one day from the date on which such shares are issued.
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction is expected to be completed as soon as is practicable based on governmental claims transfer processing times, and remains subject to regulatory approval by the TSX Venture Exchange
Mr. Freudman added: “With this initial buildout nearly complete, it is already time for TRU to keep pressing forward to generate returns from these holdings and other investments well into 2021. We will accomplish this through a combination of exploration work on our property assets led by strong third-party partners, as well as ongoing evaluation of corporate opportunities to enhance shareholder value at the property-level and for the Company overall. TRU is well-capitalized and well-positioned to continue its aggressive growth.”
Qualified Person and National Instrument 43-101 Disclosures
Barry Greene, P.Geo. is a qualified person as defined by the Canadian Securities Administrators’ National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is the Exploration Advisor to the Company and owns securities of the Company, and is one of the Vendors of the Stony Lake Property.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.