TRU Precious Metals completes purchase of Stony Lake Property in Central Newfoundland gold belt
Fredericton, New Brunswick--(Newsfile Corp. - December 16, 2020) – TRU Precious Metals Corp. (TSXV: TRU OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 23, 2020, it has completed the indirect purchase of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
The Stony Lake Property is located approximately 5-10 kilometres (km) south of the Company’s flagship Twilite Gold Project and consists of 107 claims covering 2,675 hectares.
TRU Co-Founder and CEO Joel Freudman commented: “With the Stony Lake Property now secured, TRU has established a district-scale presence in the Central Newfoundland Gold Belt. With our other properties at Twilite Gold, Rolling Pond, and Gander West we consider this portfolio ready for advancement and potential monetization. We are in the midst of planning and budgeting for corporate and exploration initiatives in 2021, and head towards the new year with significant momentum, a solid working capital base, and a sound capitalization structure, all of which will help TRU take advantage of opportunities to unlock shareholder value.”
Figure 1: TRU Newfoundland Gold Exploration Property Portfolio
As previously disclosed, the vendors of the Purchased Assets received an aggregate of 3,350,000 common shares in the capital of TRU at a deemed price of $0.30 per share as consideration for the Purchased Assets. All TRU shares issuable for the Stony Lake Property will be subject to a hold period expiring four months and one day from December 15, 2020.
The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities and has assembled a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, and on the OTCQB Venture Market under the symbol “TRUIF”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
To connect with TRU Precious Metals Corp. via social media, below are links:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
Linkedin
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.