TRU NEWS
All disclosure filings, including news releases and financial documents can be found on the TRU Precious Metals SEDAR page.
TRU Options Out its Twilite Gold Project to Eastern Precious Metals
TRU has entered into an option agreement with Eastern Precious Metals Corp., pursuant to which Eastern has been granted the option to acquire a 100% interest in the Company’s Twilite Gold Project located in the Central Newfoundland Gold Belt. The Project consists of 65 claims covering 16.25 square kilometres located along the deposit-bearing Cape Ray - Valentine Lake structural corridor.
Toronto, Ontario – August 16, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Agreement”) with Eastern Precious Metals Corp. (“Eastern”), pursuant to which Eastern has been granted the option to acquire a 100% interest in the Company’s Twilite Gold Project (“Twilite Gold” or the “Project”) located in the Central Newfoundland Gold Belt. The Project consists of 65 claims covering 16.25 square kilometres located along the deposit-bearing Cape Ray - Valentine Lake structural corridor.
Agreement Highlights:
Eastern can earn a 100% interest in the Project;
TRU would receive up to 2,500,000 common shares of Eastern (“Shares”) within 100 days of the Effective Date (as defined below), such Shares to have a deemed issue price per Share equal to $0.10 (the “Initial Shares”). A portion of the Initial Shares received will be distributed to TRU shareholders;
Within three years of the Listing Date (as defined below), TRU would receive an additional number of Eastern Shares worth $150,000; and
Eastern would fund a minimum of $450,000 in exploration expenditures at the Project over a three-year period.
TRU Co-Founder & CEO Joel Freudman commented, “We are pleased that we are starting to deliver on our previously announced corporate strategic objectives that support our exploration efforts, as we disclosed on June 2, 2022. This transaction monetizes an asset currently under-utilized by TRU, and will strengthen TRU’s balance sheet while yielding a direct benefit to TRU’s shareholders. Most importantly, this allows TRU to focus on our flagship Golden Rose Project, where we recently announced a 2,000-metre diamond drill program.”
“We are very excited to have signed an option agreement to acquire the Twilite Gold Project in Central Newfoundland,” stated Aaron Eisenberg, CEO of Eastern. “We look forward to building upon TRU's initial exploration program to further expand on their findings.”
Details about prior work completed at Twilite Gold, by TRU, including a Phase 1 diamond drilling program, are available in the Company’s news releases dated October 8, 2021, September 15, 2021 and August 18, 2021.
Terms of the Agreement
In order to acquire the 100% interest in the Project, Eastern must issue to TRU the number of common shares in the capital of Eastern and must fund a minimum of $450,000 in exploration expenditures as follows:
The Company has agreed to engage a Qualified Person, as defined in NI 43-101, to author and produce an NI 43-101 technical report on the Project (the “Technical Report”) at the sole cost of Eastern. There are certain anti-dilution rights and penalty provisions in the Company’s favour which apply prior to Eastern’s listing.
If Eastern does not list its common shares on a Canadian stock exchange within seven months from the Effective Date, the Company will be issued 1,000,000 additional Shares at a deemed price of $0.10 per share for no additional consideration.
Closer to the Listing Date, the Company intends to distribute approximately 63% of the Initial Shares to the shareholders of TRU as a dividend or other distribution. The Company expects that the Initial Shares being distributed to TRU shareholders will be free trading on Eastern’s listing on a recognized Canadian stock exchange, with the balance of the Shares held by TRU subject to voluntary share resale restrictions staggered over a 9-month period starting on the Listing Date.
In accordance with the Agreement, the Project is subject to a 4-kilometre area of influence, within which any claims acquired by Eastern or TRU during the Agreement term shall be deemed to form part of the Project. Should Eastern not exercise its option under the Agreement, 100% of the Project will revert to TRU. Throughout, and exclusively limited to, the term of the Agreement, Eastern shall be the exclusive operator with overall responsibility for the operations of the Project.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
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 website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
About Eastern Precious Metals Corp.
Eastern Precious Metals is a mineral exploration company, that will be focused on exploring for gold and other minerals at the Twilite Gold Project in the Central Newfoundland Gold Belt. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
For further information about Eastern, please contact:
Aaron Eisenberg
CEO & Director
Eastern Precious Metals Corp.
Phone: +1 (416) 270-5459
Email: aeisenberg@plazacapital.ca
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
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 Agreement and the re-distribution of the Initial Shares. These statements are based on numerous assumptions regarding Twilite Gold, the Agreement, and the Shares, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: whether the terms of the Agreement will be fulfilled in whole or in part, and whether the option granted by the Agreement will be exercised; challenges in identifying, structuring, and executing transactions on favourable terms or at all; tax and regulatory risks relating to distribution of the Shares; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; 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 Reports Remaining Drill Results at Twilite Gold Project
Fredericton, New Brunswick – October 8, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the remaining assays from its 12-hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in the Central Newfoundland Gold Belt (“Twilite Gold’’).
Fredericton, New Brunswick – October 8, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the remaining assays from its 12-hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in the Central Newfoundland Gold Belt (“Twilite Gold’’).
Highlights include the intersection of 1.00 grams per tonne (g/t) gold over 2 metres (m) in borehole TL21-27. Overall, the drill program successfully extended the known Fort Knox gold zone along strike and down dip and provided valuable geological information to help vector future drill programs in extending the zone.
Barry Greene, VP of Property Development and Director of TRU, commented: “The shear zone, which hosts the Fort Knox gold zone, displays widespread hydrothermal brecciation with silica, sericite and carbonate alteration throughout the latest drill holes. Mineralization comprising pyrite, stibnite and arsenopyrite is also continuing. Although diminishing to the southeast, the gold zone remains open to the northwest beyond hole TL21-17, where the zone is widening, and the gold grades are improving both at depth and along trend in the northwest direction. We now have gold intercepts equal to or greater than 1 g/t gold in 5 of the 10 holes completed in this drill program.”
Table 1. Uncut Assay Highlights
Figure 1 – Plan Map of Twilite Gold Drilling
Figure 2. Longitudinal Cross Section of Fort Knox Gold Zone
Table 2. Collar Details for TL-21-22 to TL-21-27
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t gold are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) 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 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 earlier-stage properties in the region. 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 website at https://www.resurgentcapital.ca/.
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 future exploration at Twilite Gold. These statements are based on numerous assumptions regarding Twilite Gold and the Company’s exploration and drilling 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 Twilite Gold; the exploration potential of Twilite Gold and the nature and style of mineralization at Twilite Gold; risks inherent in mineral exploration activities and operational problems relating to drilling; volatility in precious metals prices, financial markets, and economic conditions; 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 Reports Additional Drill Results at Twilite Gold Project and Prepares for Drilling at Golden Rose Project
Fredericton, New Brunswick – September 15, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce additional assays from its 12-hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in the Central Newfoundland Gold Belt (“Twilite Gold’’).
Fredericton, New Brunswick – September 15, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce additional assays from its 12-hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in the Central Newfoundland Gold Belt (“Twilite Gold’’). The Company is also providing an update on drilling preparations at its flagship Golden Rose Project (“Golden Rose”), also in the Central Newfoundland Gold Belt located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone.
Highlights from the latest batch of Twilite Gold drill results (Tables 1 and 2) include:
6.00 metres (m) grading 1.06 grams per ton (g/t) gold (Au) in drill hole TL-21-18.
3.00m grading 0.85 g/t Au in drill hole TL-21-20.
Robust shear zone hosted quartz breccia system remains open along strike in all directions.
Barry Greene, VP of Property Development and Director of TRU, commented: “The strength of the alteration, brecciation and mineralization remains intact as the gold system is continuing to the southeast. As is common, structural complexities play a part in the distribution of gold as the gold zone is deeper than expected. We are working to determine if this is an offset or part of a separate zone.”
Table 1. Uncut Assay Highlights
* Results based on partial recovery from a fault zone.
Figure 1 – Plan Map of Twilite Gold Drilling
Figure 2 – Cross Section of Twilite Gold Drilling
Table 2. Collar Details for TL-21-18 and TL-21-21
* Abandoned prematurely due to bad ground conditions.
TRU Co-Founder and CEO Joel Freudman added: “We are pleased that we continue to encounter gold mineralization in the results from our recently-completed inaugural drill program, and we look forward to the remaining results, which will guide future drilling at Twilite Gold. I am even more excited about our imminent 5,000-metre diamond drill program at our flagship Golden Rose Project - with permitting now in hand, drilling will soon be a reality. Over the past 4 months, our team has worked ardently in preparation. Golden Rose represents a unique opportunity for TRU for numerous reasons, with the key drivers being that it is well-situated both geologically and geographically, sandwiched between two neighbours with significant known gold deposits.”
Golden Rose Drilling Preparations
At Golden Rose, drill permitting is now in place and a drill contract has been awarded to Logan Drilling Limited for a planned 5,000m diamond drilling campaign, scheduled to begin in early to mid-October. The Company is working closely with GoldSpot Discoveries Corp. in laying out and targeting its drill program.
TRU’s main objectives for this drill program are (1) infill drilling at the South Woods Lake Gold Zone, to better delineate the known mineralization there, and (2) exploratory drilling at the recently-optioned King George IV claims in hopes of making a new discovery there, following the Company’s discovery of visible gold grains on such claims this summer, as previously announced on July 14, 2021.
As additional preparatory steps, the Company recently completed a 1,568 line-kilometer airborne magnetic gradiometer survey over select portions of Golden Rose, including the King George IV claims. The Company is also preparing for an IP/Resistivity survey at the King George IV claims.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) 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 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 early-stage properties including 2 near 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 website at https://www.resurgentcapital.ca/
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 exploration and the drill program at Twilite Gold and Golden Rose. These statements are based on numerous assumptions regarding Twilite Gold and Golden Rose, and the Company’s exploration and drilling 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 Twilite Gold and/or Golden Rose; the exploration potential of Twilite Gold and/or Golden Rose and the nature and style of mineralization at such properties; risks inherent in mineral exploration activities and operational problems relating to drilling; volatility in precious metals prices; 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 Encounters Gold in First Two Drillholes at its 100%-Owned Twilite Gold Project
Fredericton, New Brunswick – August 18, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce, further to its press release on July 7, 2021, initial assays from the first two holes of the 12 hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in Central Newfoundland (“Twilite Gold’’).
Fredericton, New Brunswick – August 18, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce, further to its press release on July 7, 2021, initial assays from the first two holes of the 12 hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in Central Newfoundland (“Twilite Gold’’). Drilling focused on a previously identified target that the Company has now dubbed the “Fort Knox Gold Zone”.
Highlights from drill holes TL-21-16 and TL-21-17 include:
Drilling confirms continuity of the gold zone 30 metres (m) down-dip from historic drill hole TL-99-14 and 70m down dip from historic hole TL-99-15, with similar grades and thickness. Some of the best intercepts include 11.5m with 1.03 grams per tonne (g/t) of gold (Au) in hole TL-21-17, and 10.5m with 1.07 g/t Au in hole TL-21-16.
The gold zone is open downdip on these sections and along strike to the northwest, where no previous drilling has been done.
Two gold zones have been encountered in hole TL-21-17, enveloping a black quartz breccia and at the sheared contact between the breccias and underlying graphitic sediments.
The drill program also confirmed the northwest trend of the mineralization, directly associated with a shear zone outlined by geophysics as a prominent detailed magnetic low that is continuous for at least 600m. The 600m detailed magnetic low is part of a regional structural break that has been outlined for approximately 7 kilometres by airborne magnetics on Twilite Gold. Regional till geochemistry has previously indicated a gold plus multi-element NNW anomalous trend coincident with the structural break. Only 200m of the shear zone at Twilite Gold has been tested by drilling to date, with results pending for 10 additional diamond drill holes.
Barry Greene, VP of Property Development and Director of TRU, commented: “We are delighted to see the continuity and expansion of the northwest trending Fort Knox Gold Zone successfully intersected in drill holes TL-21-16 and TL-21-17, and that the zone is wide open for potential further expansion. Since there has never been any drilling completed to the northwest beyond these holes, it becomes an obvious target area for a next phase of drilling. With thick sections of altered quartz breccia encountered in other nearby holes, for which assays are pending, we are hopeful for expansion of the gold zone to the southeast as well.”
Table 1. Uncut Assay Highlights
Figure 1 – Plan Map of Twilite Gold Drilling
In hole TL-21-16, the uppermost gold mineralized zone is hosted by strongly bleached and iron carbonate altered mafic volcanics containing pyrite and arsenopyrite. The main gold zone is hosted by dark grey to black silicified breccia and continues across a sheared contact with graphitic sediments.
In hole TL-21-17, the uppermost gold mineralized zone is at the upper contact with a grey to black silicified breccia, and the main gold zone, which correlates with the main zone in hole TL-21-16, is situated at the lower contact of the grey to black breccia and continues across the sheared contact with graphitic sediments.
Figure 2 – Cross Section of Twilite Gold Drilling
TRU Co-Founder and CEO Joel Freudman added: “We are pleased to share the initial results from our first drill program at Twilite Gold, which is also our first as a company. We are encouraged by the results from these first two holes. Our work at Twilite Gold will help us solidify the known mineralization areas and identify the project’s expansion potential. With the drill program completed, our focus for Twilite Gold will be on analyzing the data we have accumulated as we receive the remaining assays from the other ten holes.”
Table 2. Collar Details for TL-21-16 and TL-21-17
Other Exploration Updates
Separately, further to its July 30, 2021 press release, the Company is also providing an update on the final exploration results from its Gander West Property (“Gander West”), located approximately 16 kilometres from New Found Gold Corp.’s Queensway Project. As previously announced, all rock sample and soil geochemical results were already received, but TRU has now received the results of the nine outstanding Gander West till samples submitted to Overburden Drilling Management Limited (“ODM”).
TRU is pleased to report that ODM’s gold grain analysis indicates visible gold grains in all nine of these samples. Pristine gold grains were recovered in seven samples, including 17, 12 and 11 pristine grains, respectively, in three of the samples. ODM has confirmed to the Company that this could be indicative of Gander West being fertile for gold exploration. The till samples had been collected around a large northeast elongated pond that was the site of a topographic lineament also indicated in the regional magnetic data as a potential fault structure. A more systematic program of till sampling is warranted to further delineate the potential head of the gold dispersal train, towards identifying a bedrock source.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) 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 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 early-stage properties including 2 near 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 exploration and the drill program at Twilite Gold, and to exploration at Gander West. These statements are based on numerous assumptions regarding Twilite Gold and the Company’s exploration and drilling 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 Twilite Gold; the exploration potential of Twilite Gold and the nature and style of mineralization at Twilite Gold; risks inherent in mineral exploration activities and operational problems relating to drilling; volatility in precious metals prices; 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 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 Phase 1 Drill Program at 100%-Owned Twilite Gold Project in Central Newfoundland
Fredericton, New Brunswick – July 07, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that, further to its press releases on June 1 and June 8, 2021, the Phase 1 diamond drilling program has been completed at its 100%-owned Twilite Gold Project in Central Newfoundland (“Twilite Gold”).
Fredericton, New Brunswick – July 07, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that, further to its press releases on June 1 and June 8, 2021, the Phase 1 diamond drilling program has been completed at its 100%-owned Twilite Gold Project in Central Newfoundland (“Twilite Gold”). Drilling focused on a previously identified target that the Company has now dubbed the “Fort Knox Gold Zone”.
Highlights
Phase 1 drilling has been successfully completed on time at the Fort Knox Gold Zone for a total of 2,577 meters in 12 drill holes.
Drilling has successfully intersected the widest sections of the mineralized shear zone to date.
Extensive mineralized quartz breccia encountered in multiple drill holes.
Regionally significant mineralized conglomerate, akin to the Rogerson Lake Conglomerate, has been intersected in multiple holes.
Core logging and sampling are underway with two core saws. Excellent core recoveries were achieved through mineralized zones, unlike historic drilling by former property owner Fort Knox Gold Resources.
Receipt and evaluation of complete Phase 1 assay results are expected over approximately the next 6 to 8 weeks, with results to be publicly disclosed in batches on a rolling basis once sufficient volumes of data are available.
Drill Program Preliminary Results
Barry Greene, VP of Property Development and Director of TRU, commented: “The first phase of drilling in 2021 at Twilite Gold has gone exceptionally well. We drilled 2,577 metres of NQ core, more than initially forecast, testing several additional high-potential gold targets. We anticipate a steady flow of drill results from Twilite Gold over the coming weeks and months, with results from these holes pending.”
The drill program consisted of 12 NQ boreholes situated along a deep-seated, multi-kilometer, west-northwest trending structure (see Figure 1). The drilling focused within the Fort Knox Gold Zone, and specifically an approximately 200m strike length section of this structure near the intersection with a northeast trending mineralized structure that is also auriferous in historic drilling. Improving on historic drilling, TRU’s Phase 1 drilling has intersected an extensive shear zone containing areas of moderate to intense sericite and silica alteration and including wide areas of polyphase quartz veining and quartz breccias containing sulphide mineralization including pyrite, arsenopyrite and stibnite. The alteration and mineralization is coincident with a broad portion of the 600m long mineralized structure identified in the detailed magnetic survey completed by TRU and announced on December 8, 2020.
Figure 1: Twilite Gold Phase 1 Drill Program – Drillhole Location Map (on detailed ground magnetics)
TRU has not verified the historical grab sample assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that grab sample results are select samples and are not necessarily representative of mineralization on Twilite Gold. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite Gold to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
It is noteworthy that several holes intersected hematitic and silicified polylithic conglomerate, locally containing sulphide mineralization. Such polylithic conglomerate is texturally similar to, and may represent the strike extension of, the Rogerson Lake Conglomerate (“RLC”).
The RLC has already been mapped in proximity to Twilite Gold and is considered to be an important expression of the regionally extensive Cape Ray - Valentine Lake- Shear Zone. Regionally, the RLC (or its equivalent) is found directly associated with gold mineralization at Matador Mining’s Cape Ray deposit; Marathon Gold’s Valentine Gold deposit; and Canterra Minerals’Wilding Lake project.
TRU Co-Founder and CEO Joel Freudman added: “We are excited to have completed TRU’s first-ever drill program, which we chose to carry out at Twilite Gold a mere seven months after acquiring the project. We are very encouraged that a promising variety of mineralization is evident in the cores, often with good continuity, which supports our belief that Twilite Gold is well-situated along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. We believe that this targeted first round of drilling will indeed be the starting point to help the Company unearth the inherent value we believe exists at Twilite Gold.”
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) 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 Canadian companies. For more information on Resurgent and its portfolio companies, please visit Resurgent’s LinkedIn profile.
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:
Cautionary Statements
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 exploration and drill program results at Twilite Gold. These statements are based on numerous assumptions regarding Twilite Gold and the Company’s drilling program and results 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 Twilite Gold; the exploration potential of Twilite Gold and the nature and style of mineralization at Twilite Gold; risks inherent in mineral exploration activities; volatility in precious metals prices; 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 closes $3.5 million flow-through financing; Eric Sprott becomes major shareholder
Fredericton, New Brunswick – June 18, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce it has completed its non-brokered private placement (the “Offering”) for gross proceeds of $3,499,250, as previously announced on May 20, 2021.
Fredericton, New Brunswick – June 18, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce it has completed its non-brokered private placement (the “Offering”) for gross proceeds of $3,499,250, as previously announced on May 20, 2021. Pursuant to the Offering, TRU issued 12,960,186 “flow-through” units of the Company (“FT Units”) at a price of $0.27 per FT Unit.
Each FT Unit is comprised of one common share of TRU that qualifies as a “flow-through share” for the purposes of the Income Tax Act (Canada) (a “FT Share”) and one “flow-through” common share purchase warrant (a “FT Warrant”). Each FT Warrant shall be exercisable into one common share of TRU (a “Share”) at a price of $0.35 per Share until June 17, 2024.
Joel Freudman, Co-Founder & CEO of TRU, commented: “I am very pleased to welcome Eric Sprott as a major shareholder of TRU. Mr. Sprott’s participation in this financing is a huge vote of confidence in the Company and the potential of our district-scale land package in the Central Newfoundland Gold Belt. We are also encouraged that the Offering was fully subscribed by institutional investors right from the start, including funds managed by Sprott Asset Management LP, which we consider a testament to our progress to date and our prospects going forward. This funding will allow TRU to proceed with an aggressive and comprehensive exploration program in summer 2021 and beyond, across our entire portfolio in the region, as announced on May 31st and June 15th.”
The gross proceeds from the Offering will be used by the Company to fund exploration programs on the Company’s mineral properties in the Central Newfoundland Gold Belt and other “Canadian exploration expenses” that qualify as “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), including: (i) a comprehensive two-phase exploration program at the Company’s flagship Golden Rose Project; and (ii) a targeted and recently-expanded phase one drilling program at the Company’s Twilite Gold Project.
An eligible finder received, on account of gross proceeds raised from subscribers to the Offering who were introduced by such finder, an aggregate of 1,036,814 units of the Company, each of which consisted of one Share and one Share purchase warrant (a “Warrant”) exercisable into one Share at a price of $0.35 per Share until June 17, 2024.
The securities issued in the Offering are subject to a statutory hold period expiring October 18, 2021. The Offering is subject to final approval of the TSX Venture Exchange.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 Canadian companies. For more information on Resurgent and its portfolio companies, please visit Resurgent’s LinkedIn profile.
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:
Cautionary Statements
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 Offering and use of proceeds thereof, the renunciation to the purchasers of the FT Units, the tax treatment of the FT Units, final approval of the Offering by the TSX Venture Exchange and the Company’s plans regarding exploring its mineral exploration properties. These statements are based on numerous assumptions regarding the Offering that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: risks inherent in mineral exploration activities; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s properties; challenges in identifying and completing transactions, on favourable terms or at all; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; 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 Announces Corporate Strategy Update
Fredericton, New Brunswick – June 15, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) wishes to provide the following updates and details regarding its corporate strategy.
The Company is unveiling its corporate strategy for the 2021 calendar year, called “TRU Vision 2021”, which is to build shareholder value by exploring and developing and, when opportune, consolidating the Cape Ray – Valentine Lake Shear Zone (the “Shear Zone”) and the Appleton Fault.
Fredericton, New Brunswick – June 15, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) wishes to provide the following updates and details regarding its corporate strategy.
The Company is unveiling its corporate strategy for the 2021 calendar year, called “TRU Vision 2021”, which is to build shareholder value by exploring and developing and, when opportune, consolidating the Cape Ray – Valentine Lake Shear Zone (the “Shear Zone”) and the Appleton Fault.
TRU Co-Founder and CEO Joel Freudman explained: “As the field becomes increasingly crowded in the Central Newfoundland Gold Belt, both figuratively and literally, we need to continue distinguishing TRU to the market, and TRU Vision 2021 is our overarching path forward. We believe we will accomplish this through a concerted effort to identify discoveries at our properties, and at the corporate level through relentless execution and delivering on the guidance we provide to the market as best we can. In addition, over time we also believe it will prove to be a sustainable competitive advantage to cement a meaningful presence on the Shear Zone and/or the Appleton Fault.”
Figure1: TRU Property Map
The Shear Zone is a deposit-bearing geological corridor that runs diagonally, from southwest to northeast, through the Central Newfoundland Gold Belt. It hosts two sizable known gold deposits, namely the Matador Mining Cape Ray deposit and the Marathon Gold Valentine Gold deposit, between which is located the Company’s flagship property, the Golden Rose Project. Further up the Shear Zone the Company has its Twilite Gold Project, where drilling is currently underway (see press releases dated June 1 and June 8, 2021).
The Appleton Fault is a fault line that runs north to south through the Central Newfoundland Gold Belt, and along which is located the Keats Zone at New Found Gold’s Queensway Project, which has yielded extremely high-grade drilling results. The Company’s Gander West Property is only 16 kilometres northwest of the Keats Zone, and the Company’s Rolling Pond Property shares a border with the Queensway Project in the southwest.
TRU has assembled this prospective property portfolio and a high-performance team, with a collective drive to execute the TRU Vision 2021 strategy through two primary means: (1) systematic, targeted exploration of the Company’s existing property portfolio, which is already well underway; and (2) considering strategic follow-on property acquisitions.
Specifically, the Company intends to execute its TRU Vision 2021 strategy through accomplishment of the following objectives:
Exploring TRU’s entire property portfolio, with a discovery-oriented team focusing on the flagship Golden Rose Project and the Twilite Gold Project, both located on the Shear Zone. Exploration efforts have been scoped out and budgeted for systematic advancement by deploying lower-cost methods first, and allocating more funds towards the most advanced properties and targets. Comprehensive details are available in the Company’s May 31, 2021 press release.
Recruiting additional mining executives to the Company’s board of directors and/or management team.
Evaluating property acquisition opportunities contiguous with or close to the Company’s existing properties, and/or properties along the Shear Zone and/or the Appleton Fault.
Mr. Freudman concluded, “TRU continues its evolution and development as a junior mineral explorer whose team is relentlessly working to unlock shareholder value. We believe we are well-positioned for exploration upside and discovery potential from our current property portfolio, let alone any other value-generating corporate initiatives. Our shareholders and other stakeholders should expect no less.”
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 Canadian companies. 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:
Cautionary Statements
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 Company’s corporate strategy, exploration plans, mineral property acquisitions, and executive recruitment. These statements are based on numerous assumptions regarding the Central Newfoundland Gold Belt and the Company’s corporate strategy that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: risks inherent in mineral exploration activities; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s properties; challenges in identifying and completing transactions, on favourable terms or at all; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; difficulties 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.
Barry Greene, P.Geo. (NL), is a qualified person as defined by National Instrument 43-101, and has reviewed and approved the technical information in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
TRU Precious Metals Doubles Phase One Drill Program to up to 2,500 Meters at its 100% Owned Twilite Gold Project
Fredericton, New Brunswick – June 8, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that the Company is expanding the current phase 1 drill program at its 100% owned Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt to up to approximately 2,500 meters, further to its previous announcement on June 1, 2021.
Fredericton, New Brunswick – June 8, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that the Company is expanding the current phase 1 drill program at its 100% owned Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt to up to approximately 2,500 meters, further to its previous announcement on June 1, 2021.
The drill target was previously identified by TRU during a detailed ground geophysical survey in November of 2020, as announced on December 8, 2020. Twilite Gold is strategically located on the mapped extension of the Cape Ray-Valentine Lake Shear Zone. Numerous advanced-stage gold exploration projects are currently underway along this district-scale shear zone, including Marathon Gold’s multi-million-ounce deposit at Valentine Lake, and Matador Mining’s Cape Ray deposit.
Barry Greene, VP of Property Development and Director of TRU, commented: “After reviewing the core from TL21-16, our first drill hole of 2021, I am excited to expand the Twilite Gold drill program. Most of the drilling will be focused on exploring and expanding the mineralized structure associated with a magnetic low, beginning with close undercuts of historical holes first and followed closely with about 25m to 50m step-outs along the structure. There is no shortage of room to move both horizontally and vertically along the structure, enabling us to easily expand the drill program.”
The drill program will consist of approximately 10-15 NQ boreholes situated along a deep seated, multi kilometer, west-northwest trending mineralized structure (Figure 1). The drilling will focus on an approximately 500m strike length section of this structure near the intersection with a northeast trending mineralized structure that is also auriferous in historic drilling. The target mineralized structure appears as a prominent and deep-seated feature on geophysical 3D modeling images and will be drill tested to a maximum depth of approximately 350 m below surface.
Barry Greene, VP of Property Development and Director of TRU, continued: “Meantime, we are pleased to see that diamond drill hole TL21-16 has intersected quartz veined intervals including a distinct and more intense interval of approximately 9m from 126m to 135m at or near the contact between strongly bleached and altered mafic volcanics and a sheared graphitic unit containing veined and brecciated quartz with stringer and clotty pyrite. TL21-16 was an undercut of historic drill hole TL99-14. Unlike hole TL99-14 which had poor core recovery, hole TL21-16 has much better recoveries through the mineralized zone.”
After initial drill core observations are made, the core is transported to TRU's secure core logging facility where the core is being logged, marked for sampling and then split using a core saw. The samples will be shipped to Eastern Analytical assay lab in Springdale, Newfoundland for gold fire assay.
Figure 1: Twilite Gold Proposed Drilling Plan View
TRU Co-Founder and CEO Joel Freudman added: “Exploration, particularly this drill program at Twilite, is one of TRU's two key value drivers, the other being M&A at the property and corporate levels. Therefore, given that we are already permitted for a more extensive drill program, we think it prudent to expand the program's scope by adding several holes to better test the structure. We look forward to unearthing the potential value at Twilite Gold.”
As previously disclosed on December 8, 2020, the Company combined the results of a high-resolution, detailed ground magnetic survey around known historical gold occurrences at Twilite Gold with other historical data to develop the drill target currently being tested. The structurally controlled gold mineralization near the Spring Pit showing within Twilite Gold correlates directly with a prominent magnetic low that continues to depth (Figure 2). The modeling also indicates that the magnetic low associated with the mineralized structure continues in a northwesterly direction for at least 600 metres (m) to the limit of the current magnetic survey.
The mineralized structure was intersected by three shallow diamond drill holes in a 1999 drilling program by Fort Knox Gold Resources, and all such holes contained gold mineralization. Notably, drill hole TH-99-10 intersected 8.41m @ 3.28 grams per tonne (g/t) gold (Au) at the top of the structure. The deepest hole to date on this structure intersected 13.3m @ 1.02 g/t Au.
Figure 2: Twilite Gold Cross-Section
TRU has not verified the historical assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that drill hole results are select samples and are not necessarily representative of mineralization on Twilite Gold. The diagrams and technical information herein relating to Twilite have been supplied by the vendor and have not been independently verified by the Company. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite Gold to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Finally, the Company's chief executive officer has issued a letter to shareholders. A copy of the letter is available to all interested readers on the Company's website.
Barry Greene, P.Geo. (NL) 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 a definitive option agreement with a subsidiary of TSX-listed Altius Minerals Corporation for the option 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” and on the OTCQB Venture Market under the symbol “TRUIF”; and on the Frankfurt Stock 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 Canadian companies. 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: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Cautionary Statements
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 exploration and the drill program at Twilite Gold. These statements are based on numerous assumptions regarding Twilite Gold and the Company’s drilling 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 Twilite Gold; the exploration potential of Twilite Gold and the nature and style of mineralization at Twilite Gold; risks inherent in mineral exploration activities and operational problems relating to drilling; volatility in precious metals prices; 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 Commences 1,200 Metre Phase One Drill Program at its 100% Owned Twilite Gold Project
Fredericton, New Brunswick – June 1, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has commenced a minimum 1,200-metre drill program at its 100% owned Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt. The drill target was previously identified by TRU during a detailed ground geophysical survey in November of 2020, as announced on December 8, 2020.
Fredericton, New Brunswick – June 1, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has commenced a minimum 1,200-metre drill program at its 100% owned Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt. The drill target was previously identified by TRU during a detailed ground geophysical survey in November of 2020, as announced on December 8, 2020.
Twilite Gold is strategically located on the mapped extension of the Cape Ray-Valentine Lake Shear Zone. Numerous advanced-stage gold exploration projects are currently underway along this district-scale shear zone, including Marathon Gold’s multi-million-ounce deposit at Valentine Lake, and Matador Mining’s Cape Ray deposit. Twilite Gold is also located only 15 kilometres south of Grand Falls-Windsor, a town of approximately 15,000 which is the service and supply centre for central Newfoundland. Twilite Gold is easily accessible with an all-weather gravel road leading directly to the prospect.
The drilling program is contracted to Logan Drilling Limited, based in Stewiack, Nova Scotia, who has supplied a Duralite 1000 drill and experienced drill crew for this program. The Twilite Gold Project was tested by 15 shallow drill holes in 1999 and only three holes were on the current target. All three boreholes intersected gold mineralization, as described more fully below.
Barry Greene, VP of Property Development and Director of TRU, commented: “I have been eagerly anticipating the opportunity to commence drilling on TRU’s 100% owned Twilite Gold Project. This is TRU’s inaugural drilling program as a company and marks a significant milestone in our rapid development. The Twilite Gold drill target is compelling with shallow gold already intersected in drill core from the last drilling on the project over 20 years ago. With such an expansive mineralized structure having only three near surface historic boreholes to date, the drill target is wide open.”
The drill program will consist of six NQ boreholes situated along a deep seated, multi kilometer, west-northwest trending mineralized structure. The drilling will focus on an approximately 300m strike length section of this structure near the intersection with a northeast trending mineralized structure that is also auriferous in historic drilling. The target mineralized structure appears as a prominent and deep-seated feature on geophysical 3D modeling images and will be drill tested to a maximum depth of approximately 350 m below surface.
Geologically, the gold mineralization on this structure has been found near the contact between stockwork quartz veined and sheared graphitic metasediments and sericitized, silicified and locally clay altered mafic volcanics. The volcanics and sediments are pervasively altered by iron carbonate and the volcanics contain fuchsite locally. Gold is associated with quartz veining and silicification containing sulphide mineralization, which predominantly consists of pyrite and arsenopyrite. Polished thin section examination identified fine grained copper-lead-antimony sulfosalts in association with pyrite and arsenopyrite. The presence of sulfosalt minerals is considered significant in that these often exhibit a close spatial association with bonanza grade gold mineralization.
Figure 1: Twilite Gold Proposed Drilling Plan View
TRU Co-Founder and CEO Joel Freudman added: “We are delighted to finally start drilling the geophysical target we previously identified at Twilite Gold. We are very fortunate that Barry, who has been involved with this property over the years, has carefully planned this initial program with TRU’s technical and exploration team. We are hopeful that this targeted round of drilling will prove a critical starting point to help us unearth the value that we believe exists at Twilite Gold.”
As previously disclosed on December 8, 2020, the Company combined the results of a high-resolution, detailed ground magnetic survey around known historical gold occurrences at Twilite Gold with other historical data to develop this drill target. The structurally controlled gold mineralization near the Spring Pit showing within the Twilite Gold Project correlates directly with a prominent magnetic low that continues to depth (Figure 2). The modeling also indicates that the magnetic low associated with the mineralized structure continues in a northwesterly direction for at least 600 metres (m) to the limit of the current magnetic survey.
The mineralized structure was intersected by three shallow diamond drill holes in a 1999 drilling program by Fort Knox Gold Resources, and all such holes contained gold mineralization. Notably, drill hole TH-99-10 intersected 8.41m @ 3.28 grams per tonne (g/t) gold at the top of the structure. The deepest hole to date on this structure intersected 13.3m @ 1.02 g/t gold.
Figure 2: Twilite Gold Cross-Section
TRU has not verified the historical assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that drill hole results are select samples and are not necessarily representative of mineralization on Twilite Gold. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite Gold to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Barry Greene, P.Geo. (NL) 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 a definitive option agreement with a subsidiary of TSX-listed Altius Minerals Corporation for the option 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” and on the OTCQB Venture Market under the symbol “TRUIF”; and on the Frankfurt Stock 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 Canadian companies. 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: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Cautionary Statements
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 exploration and the drill program at Twilite Gold. These statements are based on numerous assumptions regarding Twilite Gold and the Company’s drilling 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 Twilite Gold; the exploration potential of Twilite Gold and the nature and style of mineralization at Twilite Gold; risks inherent in mineral exploration activities and operational problems relating to drilling; volatility in precious metals prices; 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 announces summer 2021 exploration program
Fredericton, New Brunswick – May 31, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the start of its summer 2021 exploration program across its district-scale land package in the Central Newfoundland Gold Belt. The initial program will commence with the Gander West and Twilite Gold projects, followed by additional work planned at the Rolling Pond and Golden Rose projects.
Fredericton, New Brunswick – May 31, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the start of its summer 2021 exploration program across its district-scale land package in the Central Newfoundland Gold Belt. The initial program will commence with the Gander West and Twilite Gold projects, followed by additional work planned at the Rolling Pond and Golden Rose projects.
Co-Founder and CEO of TRU Joel Freudman commented, “We expect the summer months to be exhilarating for TRU. We were purposeful in 2020 to be very aggressive in building a commanding land position in this prolific gold belt region. Having previously identified a drill target at our Twilite Gold Project, we are eager to start drilling there imminently. We expect to see work across nearly our entire property portfolio this summer, most prominently at Golden Rose and Twilite Gold, and also at Rolling Pond and Gander West. With a strong balance sheet and a $3.5 million flow-through financing fully committed and currently underway with Eric Sprott and other institutional investors, we expect to be well-funded for 2021 and beyond.”
Golden Rose Project
The Golden Rose Project is a regional-scale land package covering 105 kilometres squared (km2) within the Valentine Lake structural corridor and is easily accessible via provincial highway and forest access roads. It is located between Marathon Gold Corp.’s (“Marathon”) Valentine Gold Project to the northeast, where Marathon has reported 3.09 million ounces (Moz.) Measured and Indicated gold (Au) resources (comprised of 54.9 million tonnes (Mt) at 1.75 grams per tonne (g/t) Au) plus 0.96 Moz. Inferred Au resources (16.8 Mt at 1.78 g/t Au) [1], and Matador Mining’s Cape Ray Gold Project to the southwest, which also has a known gold deposit [2].
TRU will embark on a multi-phase exploration program throughout the remainder of 2021 to further delineate the known areas of gold mineralization and test new zones. Highlights of recently uncovered gold occurrences (by the previous owners) which have yet to be tested by TRU include Rose Gold, Jacob’s Pond and Jen’s Pond. A summary follows:
Rose Gold - A hand dug trench exposed a 30-40 centimetre wide quartz-vein/breccia hosted in sheared metavolcanics. Original grab samples assayed 18.8 g/t Au and 7.2 g/t Au. Follow up prospecting in 2019 returned a 20.2 g/t Au sample. Limited work has been done in the area, mostly soil sampling and prospecting, but no drill testing.
Jacob’s Pond - Several gold prospects in a cluster located on trend to the Rose Gold prospect; dominantly quartz-sulphide +/- calcite veins/breccia adjacent to a major fault zone. There was a notable grab sample assay of 3.38 g/t Au, 2.3% copper, 4.1 g/t silver from a massive sulphide vein in basalt, and another grab sample with 3.9 g/t Au and 5.61% copper.
Jen’s Pond - There is a large angular boulder cluster located on the edge of a pond. Grab sample values returned up to 4.2 g/t Au. Dominantly quartz calcite with varying concentrations of pyrite, arsenopyrite (up to 50%), chalcopyrite and galena.
Phase 1 Work Program
Our Phase 1 Work Program, which is expected to commence by early to mid-June, will concentrate on ground truthing the historic gold-soil-anomalies and existing mineral occurrences by prospecting. Prospecting, geological mapping and soil sampling will then be expanded property-wide. Targets confirmed by prospecting and soil sampling will be followed up with trenching, with grids cut in areas identified for potential follow-up with ground geophysics.
Phase 2 Work Program
Our Phase 2 Work Program, which is expected to commence sometime in Q3, will consist of a 5000-metre diamond-drill program. This would test both newly defined targets and the South Woods Lake Zone, a gold zone that has been traced for 550 metres (m) by drilling and contains historic drill intersections such as 2.15 g/t Au over 12.6m and 1.37 g/t Au over 26.3m. Approximately 1000m of this drilling would provide sufficient information on the structure and underlying geology of these areas and confirm the historic drill results. The Rose Gold – Jacob’s Pond - Jen’s Pond area and possibly the Mink Pond - Glimmer Pond area should be followed up with ground geophysics. Prospecting, soil sampling and trenching would continue during Phase 2 as required.
Twilite Gold Project
On December 8, 2020, TRU announced that it had identified a promising drill target at its Twilite Gold Project. Twilite Gold is strategically located on the mapped extension of the Cape Ray – Valentine Lake Shear Zone. Numerous advanced-stage gold exploration projects are currently underway along this district-scale shear zone, including the Marathon and Matador Mining deposits referenced earlier and Canterra Minerals’ Wilding Lake project. Twilite Gold is located only 15 kilometers south of Grand Falls-Windsor, a town of approximately 15,000, which is the service and supply centre for central Newfoundland. Twilite Gold is easily accessible with an all-weather gravel road leading directly to the prospect.
Drilling is planned to commence imminently at Twilite Gold and will be announced separately once underway.
Gander West
Early prospecting efforts have identified a quartz vein system with sulphide mineralization and have confirmed the presence of a fault zone that correlates with a 10km long structural lineament through the property. The Company is in the process of submitting samples for geochemical analysis.
The wholly-owned Gander West Property consists of 120 claims covering 3,000 hectares of prospective ground. The Gander West Property is located near the Trans-Canada Highway and approximately 16 km from the Keats zone at New Found Gold Corp.’s Queensway Project, where New Found Gold reported drill intercepts on May 21, 2021 of 146.2 g/t Au over 25.6 m [3].
Rolling Pond
The Rolling Pond property is contiguous with the south end of New Found Gold’s Queensway project. A phase 1 exploration program has been proposed for the Rolling Pond property, starting in early June, consisting of property-wide soil sampling and prospecting. The sampling will cover the large hydrothermal and quartz breccia system which has been identified over a 1.2 km strike length but has never been subjected to a systematic soil geochemical survey. Sampling will also be positioned to expand upon a known soil geochemical anomaly near the south-central area of the property where a coincident multi element soil anomaly has returned gold values from 5 parts per billion (ppb) to 142ppb, one of two gold anomalous areas spanning a 500m length.
National Instrument 43-101 Disclaimers
The technical information herein, including assays, relating to the Golden Rose Project and the Rolling Pond Property is historical in nature and has not been independently verified by TRU. Note that rock grab and float samples and drill hole intervals are selective by nature, and values reported may not represent the true grade or style of mineralization across the mineral properties in question.
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 a definitive option agreement with a subsidiary of TSX-listed Altius Minerals Corporation for the option 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” and on the OTCQB Venture Market under the symbol “TRUIF”; and on the Frankfurt Stock 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 Canadian companies. 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: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Cautionary Statements
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 regulatory approval and to the timing of the Company’s digital advertising program with Winning Media. These statements are based on numerous assumptions believed by management to be reasonable in the circumstances and are subject to a number of risks and uncertainties, including without limitation: regulatory approval; volatility in financial markets, economic conditions, and precious metals prices; 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.
[1] https://marathon-gold.com/valentine-gold-project/. Readers are also referred to the National Instrument 43-101 Technical Report and Pre-Feasibility Study on the Valentine Gold Project, Newfoundland and Labrador, Canada, prepared by Ausenco Engineering Canada for Marathon Gold Corporation, dated April 21, 2020 with an effective date of April 18, 2020, which is available on Marathon’s SEDAR profile at www.sedar.com
[2] https://matadormining.com.au/cape-ray/
[3] https://newfoundgold.ca/news/new-found-intercepts-146-2-g-t-au-over-25-6m-in-65m-step-out-to-south-at-keats-extends-high-grade-zone-to-425m-down-plunge/
TRU Precious Metals identifies drill target at Twilite Gold Project
Fredericton, New Brunswick – December 8, 2020 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that a promising geophysical target has been identified as an expected starting point for drilling activity in early 2021 at TRU’s 100%-owned flagship Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt.
Fredericton, New Brunswick – December 8, 2020 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that a promising geophysical target has been identified as an expected starting point for drilling activity in early 2021 at TRU’s 100%-owned flagship Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt. The target was identified by certain of TRU’s advisors following completion of a preliminary phase 1 geophysical survey.
Twilite Gold is strategically located on the mapped extension of the Cape Ray – Valentine Lake Shear Zone. Numerous advanced-stage gold exploration projects are currently underway along this district-scale shear zone, including Marathon Gold’s multi-million ounce deposit at Valentine Lake, and Matador Mining’s Cape Ray deposit. Twilite Gold is also located only 15 kilometres south of Grand Falls-Windsor, a town of approximately 15,000 which is the service and supply centre for central Newfoundland. Twilite Gold is easily accessible with an all-weather gravel road leading directly to the prospect.
TRU Co-Founder and CEO Joel Freudman commented: “We are excited for work to commence at Twilite Gold. In early November we acquired this drill-ready property, and based on historical data we have funded some ground-level initiatives at Twilite Gold before the winter months. Our Exploration Advisor Barry Greene, who is very familiar with the property, is spearheading our disciplined incremental expenditure. Identifying this target will position us for a head start on our 2021 plans to unearth value at Twilite Gold. At the same time, our Technical Committee is currently evaluating an overarching exploration plan and budget for our Newfoundland Gold Exploration properties for 2021.”
In mid-November, TRU engaged RDF Consulting Ltd. to undertake a limited-scope, high-resolution magnetic survey covering approximately 24 line-kilometres around known historical gold occurrences at Twilite Gold. The detailed ground magnetics survey covered the known gold prospects, including the Discovery, Spring Pit, 320 Vein and Paddy’s Pit prospects. Modeling of the geophysical data, incorporating historical diamond drilling data, reveals that the structurally controlled gold mineralization near the Spring Pit correlates directly with prominent magnetic low that continues to depth (Figure 1). The modeling also indicates that the magnetic low associated with the mineralized structure continues in a northwesterly direction for at least 600 m to the limit of the current magnetic survey (Figure 2).
The mineralized structure was intersected by three shallow diamond drill holes in a 1999 drilling program by Fort Knox Gold Resources, and all such holes contained gold mineralization. Notably, drill hole TH-99-10 intersected 8.41m @ 3.28 g/t gold at the top of the structure. The deepest hole to date on this structure intersected 13.3m @ 1.02 g/t gold.
TRU Exploration Advisor Barry Greene commented: “Magnetic lows are often associated with areas of quartz veining, brecciation and alteration, all of which was intersected in historic drilling on this structure. It is encouraging that the modeling predicts a depth continuity of the gold mineralized structure, and an intriguing domal shaped magnetic low which flanks the mineralized structure, which has not previously been drill tested. These features will be considered priority phase 1 drill targets. Also of interest is how the magnetic modeling suggests that the mineralized structure has continuity in its lateral extent, opening up an expanded area for drill targeting. We are eagerly awaiting the opportunity to see drilling on this property.”
Figure 1: Twilite Gold Cross-Section
Figure 2: Twilite Gold Magnetic Inversion
TRU has not verified the historical drill intervals contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that drill hole results are select samples and are not necessarily representative of overall mineralization on Twilite Gold. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by or on behalf of the Company or its qualified person at Twilite Gold to define a mineral resource or mineral reserve, and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Qualified Person
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.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities and has recently 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/
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 Completes Purchase of Drill-Ready Twilite Gold Project
Fredericton, New Brunswick--(Newsfile Corp. - November 10, 2020) - TRU Precious Metals Corp. (TSXV: TRU) ("TRU" or the "Company") is pleased to announce that, further to its press releases dated October 14, 2020 and October 29, 2020, it has completed the indirect purchase of 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project ("Twilite"), along with all related permits and technical data (collectively, the "Purchased Assets").
Fredericton, New Brunswick--(Newsfile Corp. - November 10, 2020) - TRU Precious Metals Corp. (TSXV: TRU) ("TRU" or the "Company") is pleased to announce that, further to its press releases dated October 14, 2020 and October 29, 2020, it has completed the indirect purchase of 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project ("Twilite"), along with all related permits and technical data (collectively, the "Purchased Assets").
TRU Co-Founder and CEO Joel Freudman commented: "Twilite is now the flagship asset in our Newfoundland Gold Exploration portfolio. We continue to work diligently towards assembling a district-scale property package in the Central Newfoundland Gold Belt, for upside potential through exploration as well as appreciation on the back of nearby discoveries by New Found Gold and others in the region."
Mr. Freudman added, "We're also fortunate that Newfoundland-based geoscientist Barry Greene, who has been involved with Twilite for some time, is now available to our team as Exploration Advisor, as originally announced on October 21, 2020. Barry can help steer our approach to advancing Twilite and our other properties, and together we're already mapping out TRU's acquisition and exploration plans for this winter and into 2021."
The Twilite Gold Project
Twilite is considered to be associated with a low sulphidation gold system and shares many characteristics with Sokoman Minerals Corp.'s Moosehead Gold Project, which is located approximately 30 kilometres (km) northeast of Twilite.
TRU Newfoundland Gold Exploration Property Portfolio
Twilite has previously been explored but not thoroughly followed up, with the most recent notable program being carried out in 2003 by Altius Resources Inc. ("Altius"). Highlights of historical exploration including that of Fort Knox Gold Resources Inc. and Altius included:
Discovery Prospect - selected grab samples containing visible gold returned values up to 202 g/t Au in a zone of quartz veining and silicification; channel samples returned 3.48 g/t Au and 5.3 g/t Au in a contiguous 1.0 m sample across the widest portion of the vein.
Spring Pit Prospect - diamond drill hole TL-99-10 intersected 5.1 g/t Au over 5.8 m, from 14.2 m to 20 m depth.
TRU has not verified the historical assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that grab and channel samples and drill hole results are select samples and are not necessarily representative of mineralization on Twilite. The technical information herein relating to Twilite has been supplied by the Vendor (as defined below) and has not been independently verified by TRU. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Terms of the Transaction
As previously disclosed, the vendor of the Purchased Assets (the "Vendor") received the following consideration for the Purchased Assets: (i) 1,435,000 common shares in the capital of TRU (each, a "TRU Share") at a deemed price of $0.25 per TRU Share; (ii) $100,000 cash; and (iii) a 1.0% net smelter returns royalty from any future mineral production at Twilite, of which 0.5% can be repurchased by the Company for $1,000,000. Twilite is currently subject to a 2.0% net smelter returns royalty owing to prior owners, of which 1.0% can be repurchased for $1,000,000.
Further, the Vendor may be issued up to an additional 1,000,000 TRU Shares if certain mineral deposit discovery milestones are achieved at Twilite. All TRU Shares issuable as consideration for the Purchased Assets are subject to a hold period expiring four months and one day from the date(s) on which such TRU Shares are issued.
The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange. The Purchased Assets are the second mineral exploration holding within the Company's broader investment portfolio. TRU has acquired the Purchased Assets as a passive investment, and does not intend to operate Twilite directly. However, TRU may engage third party technical and exploration consultants to advance its mineral property holdings so as to increase their monetization potential.
Qualified Person
Dean Fraser, 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. Fraser is the Technical Advisor to the Company and owns securities of the Company.
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 TSXV 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
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 and links in this press release relating to Sokoman Minerals Corp. are from sources believed to be reliable, but that have not been independently verified by TRU. These links are included in this press release as inactive textual references for reference purposes only and the information on or connected to these websites is not part of, or incorporated by reference into, this press release.
This press release contains certain forward-looking statements, including those relating to exploring and monetizing Twilite and the Company's other mineral exploration investments in Newfoundland, and to Mr. Greene's involvement with the Company. These statements are based on numerous assumptions regarding the Purchased Assets and Mr. Greene 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 Twilite; the exploration or monetization potential of the Purchased Assets and specifically Twilite; 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 Signs Definitive Agreement for Drill-Ready Twilite Gold Project
TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated October 14, 2020, its wholly-owned subsidiary has entered into a definitive agreement dated October 29, 2020 (the “Definitive Agreement”) with GBC Grand Exploration Inc. (the “Vendor”)
FREDERICTON, New Brunswick, Oct. 29, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated October 14, 2020, its wholly-owned subsidiary has entered into a definitive agreement dated October 29, 2020 (the “Definitive Agreement”) with GBC Grand Exploration Inc. (the “Vendor”).
Pursuant to the Definitive Agreement, the Company will indirectly purchase 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project (“Twilite”), along with all related permits and technical data (collectively, the “Purchased Assets”). For further details on the Definitive Agreement, please see the Company’s October 14, 2020 press release, which sets out the terms of the proposed transaction as set forth in the binding letter of intent between TRU and the Vendor dated October 13, 2020, which terms are substantially reflected in the Definitive Agreement.
TRU Co-Founder and CEO Joel Freudman commented, “When we close this transaction, Twilite will become the most advanced asset in our Newfoundland Gold Exploration portfolio. Meanwhile, we’re already working with our recently-formed Technical Committee to plan and budget for third-party exploration work at Twilite over the winter, to enhance the value of this property.”
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction will 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.
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
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 acquiring, exploring, and monetizing Twilite and the Company’s other mineral exploration investments in Newfoundland. These statements are based on numerous assumptions regarding the Purchased Assets that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration or monetization potential of the Purchased Assets and specifically Twilite; 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; 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 Engages Barry Greene as Exploration Advisor
TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that Barry Greene, P.Geo. has agreed to serve as an Exploration Advisor to the Company, in connection with the Company’s proposed acquisition of the Twilite Gold Project in central Newfoundland (“Twilite Gold”) as announced on October 14, 2020.
FREDERICTON, New Brunswick, Oct. 21, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that Barry Greene, P.Geo. has agreed to serve as an Exploration Advisor to the Company, in connection with the Company’s proposed acquisition of the Twilite Gold Project in central Newfoundland (“Twilite Gold”) as announced on October 14, 2020. In this capacity, Mr. Greene will provide the Company with technical and geological advice on existing and potential mineral property holdings.
Mr. Greene is a geoscientist based in Newfoundland who has almost 30 years of experience and who is a shareholder of the corporate vendor of Twilite Gold. Mr. Greene has previously worked as a geological consultant, including with Amec Foster Wheeler and Wood Plc, and with numerous public companies, including approximately 16 years as Exploration Manager and then Vice-President of Exploration with Celtic Minerals Ltd.
Joel Freudman, Co-Founder and CEO of TRU, said, “We continue to attract well-known, respected, experienced teammates, and we’re glad to have Barry join us to help evaluate future property investments and potential follow-on exploration work. We now have a 4-person Newfoundland-based advisory team to help steer our activities on the ground.”
The Company also announces that it is building a corporate website to provide the public with easier access to comprehensive information about TRU. An initial version of the site is now live at www.trupreciousmetals.com, and will be expanded over the coming weeks.
TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU” and currently reflect the Company’s former corporate name of “Trius Investments Inc.” The shares will commence trading under the new corporate name of “TRU Precious Metals Corp.” on Friday October 23, 2020.
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 TSXV 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
Cautionary Statements
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 Barry Greene has been provided by Mr. Greene and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to advancing and monetizing the Company property portfolio, the acquisition of other mineral exploration investments, and the Company’s corporate strategy and objectives. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration or monetization potential of the Company’s properties; challenges in sourcing, 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; difficulties 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.