TRU NEWS
All disclosure filings, including news releases and financial documents can be found on the TRU Precious Metals SEDAR page.
TRU Precious Metals Appoints Veteran Mining Executive Colin Sutherland, CPA, CA to its Board of Directors
Fredericton, New Brunswick – June 29, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the appointment of Colin Sutherland, CPA, CA to its Board of Directors. TRU now has 5 directors, 3 of whom are independent.
Fredericton, New Brunswick – June 29, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the appointment of Colin Sutherland, CPA, CA to its Board of Directors. TRU now has 5 directors, 3 of whom are independent.
Mr. Sutherland is a Chartered Professional Accountant with over 20 years of financial and operational experience in the mining industry with exploration and development-stage companies. He has held senior executive roles globally, currently with Magna Gold Corp. as its Chief Financial Officer and a director, and recently with Arizona Metals Corp., NQ Minerals Plc, Amarillo Gold Corporation, and McEwen Mining Inc. Over his career, Mr. Sutherland has led several M&A, equity and debt transactions, and has returned significant value to shareholders. Mr. Sutherland holds a Bachelor of Business Administration degree from Saint Francis Xavier University.
Along with his appointment as a director of the Company, Mr. Sutherland has also been appointed to the Company’s audit committee, which is now comprised entirely of independent directors. This is consistent with the Company’s broader commitment to strong corporate governance, to which end TRU has also previously adopted a Code of Business Conduct as well as a Corporate Disclosure Policy.
TRU Co-Founder and CEO Joel Freudman commented: “Colin is an excellent complement to our existing Board, bringing demonstrated and relevant mining experience, in-depth knowledge of the natural resource capital markets, and an accounting background. We believe Colin’s experience and connections will further support our strategy to deliver value to our shareholders through good governance, operational excellence, and enhanced market presence.”
The Company also announces that, subject to regulatory approval, it has granted an aggregate of 280,000 incentive stock options (“Options”) to a director, an officer, and an employee in accordance with the Company’s stock option plan. These Options have an exercise price of $0.34 each and a 3-year term, and vest immediately.
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 regulatory approvals and the impact of additions to the TRU leadership team. 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: challenges executing on corporate strategy and business plans; 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 Increases Land Position at its Flagship Golden Rose Project in Central Newfoundland
Fredericton, New Brunswick – June 24, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the acquisition of a significant claims package (the “Claims”) contiguous with the Company’s flagship Golden Rose Project in Central Newfoundland’s Gold Belt.
Fredericton, New Brunswick – June 24, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce the acquisition of a significant claims package (the “Claims”) contiguous with the Company’s flagship Golden Rose Project in Central Newfoundland’s Gold Belt.
TRU has acquired, via indirect staking, 62.25 square kilometres (km2) of mineral claims contiguous with the existing Golden Rose Project, increasing the property size by almost 60% from 105 km2 to 167.25 km2 (Figure 1) along and adjacent to the Cape Ray - Valentine Lake Shear Zone (the “Shear Zone”).
Joel Freudman, Co-Founder and CEO of TRU, commented: “Consistent with TRU’s stated strategic objective to add or expand properties of merit along the Shear Zone, this acquisition adding to our district-scale Golden Rose Project is very exciting for us, and comes at only minimal staking costs. This consolidation provides better coverage of a 23 km section of a possible splay structure, or offshoot, adjacent to the main Shear Zone. Importantly, this 23 km long splay structure is very underexplored and is known to host gold mineralization, which automatically makes the Claims an early focus of TRU’s field programs at Golden Rose.”
The Claims are located along a structural corridor (Figure 2) believed to be a splay of the Shear Zone containing anomalous gold and arsenic in lake sediments. Several recent gold occurrences on the Golden Rose Project are interpreted to be associated with this splay structure. These include the Jacobs Pond gold zone (hand trenching returned grab samples grading from 0.8 grams per tonne (g/t) gold (Au) to 2.2 g/t Au) and the Rose Gold showing (hand trenching returned grab samples grading from 3.3 g/t Au to 20.2 g/t Au) [1] . Additionally, visible gold grains have been panned along the trend of this structural corridor. The Claims also contain a historic grid hosting anomalous gold in soil values including 110ppb gold in soil [2] . Other historic gold showings that appear to be located along the structural corridor include the Sansu gold showing (3.5 g/t Au in grab samples [3] ) and the Big Arm gold showing (16 g/t Au [4] ).
Figure 1: Newly Acquired Claims - Golden Rose Project
Figure 2: Gold Occurrences and Structural Corridor Along Newly Acquired Claims
National Instrument 43-101 Disclosures
The technical information herein, including assay results, relating to the Golden Rose Project is historical in nature and has not been independently verified by TRU. Note that grab samples are selective by nature, and values reported may not represent the true grade or style of mineralization across the Golden Rose Project. The potentialgrades are conceptual in nature; there has been insufficient exploration to define a mineral resource; and it is uncertain whether further exploration will result in any 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 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.
Information in this press release relating to third-party mineral exploration properties are from sources believed to be reliable, but that have not been independently verified by TRU. Information in this press release relating to historical exploration results at the Golden Rose Project was provided by the optionor of the property, and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to exploring the Claims, and the prospectivity and mineralization of the Claims and the Golden Rose Project. These statements are based on numerous assumptions regarding the Claims and 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 Claims and/or the Company’s mineral exploration 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; 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.
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[1] Source: Altius Resources Inc.
[2] Source: NDME geofiles # 12A/0900
[3] Source: NDME mineral occurrence database system
[4] Source: NDME mineral occurrence database system
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 Completes Soil Sampling Program at Its Rolling Pond Property Bordering New Found Gold’s Queensway Project
Fredericton, New Brunswick – June 17, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has completed a property-wide soil sampling program at its Rolling Pond Property in the Central Newfoundland Gold Belt.
Fredericton, New Brunswick – June 17, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has completed a property-wide soil sampling program at its Rolling Pond Property in the Central Newfoundland Gold Belt. The Rolling Pond property is contiguous with the south end of New Found Gold’s Queensway project. New Found Gold reported drill intercepts on May 21, 2021 at the Queensway Project of 146.2 grams per tonne gold over 25.6 meters (1).
The completed geochemical surveying program represents TRU’s first phase of field work at the Rolling Pond property and consisted of extensive and detailed sampling (684 samples were collected). The sampling covered 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. The sampling was 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. The samples are being submitted to Eastern Analytical of Springdale, NL for gold fire assay and 34 element ICP geochemical analysis. Eastern Analytical is an independent accredited assay lab that conforms to requirements of ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025.
Figure 1: TRU Rolling Pond Property Location
Figure 2: TRU Precious Metals Rolling Pond Soil Sample Location
TRU Co-Founder and CEO, Joel Freudman, commented: "We are excited to announce the completion of our first phase of work at Rolling Pond. Completing this detailed geochemical survey is a cost-effective way to provide the Company with greater technical data on this large target area and assists in facilitating guidance for our next phases of groundwork. Rolling Pond, being next door to New Found Gold's Queensway Property, provides TRU with an advantageous access point to the prospective geology of that area. We remain encouraged by historical findings that the nature and style of mineralization at the Rolling Pond Property appears similar to that of New Found Gold's and thus look forward to the results from this program.”
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 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.
Information in this press release relating to third-party mineral exploration properties are from sources believed to be reliable, but that have not been independently verified by TRU. Certain historical technical information herein relating to Rolling Pond Property has been supplied by the optionor of this property and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to exploring the Company’s mineral exploration properties and the prospectivity and mineralization of the Company’s properties. 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.
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[1] Source: 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 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 Announces Resumption of Trading on the OTCQB Venture Market and DTC Eligibility
Fredericton, New Brunswick – June 11, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that shares of its common stock have resumed trading on the OTCQB Venture Market (the "OTCQB Venture") in the United States under the stock symbol "TRUIF".
Fredericton, New Brunswick – June 11, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that shares of its common stock have resumed trading on the OTCQB Venture Market (the "OTCQB Venture") in the United States under the stock symbol "TRUIF". This is following the filing and completion of a Change of Business regarding the Company with the TSX Venture Exchange ( as announced on May 13, 2021). TRU is also pleased to announce that its common shares are now eligible for electronic clearing and settlement through The Depository Trust Company ("DTC") in the United States.
TRU Co-Founder and CEO Joel Freudman, commented: “I am pleased that TRU has resumed trading on the OTCQB Venture following the pause we underwent as we completed our Change of Business to a mining issuer. The OTCQB Venture provides TRU with access to an efficient and transparent trading platform within the United States market. I am also equally pleased that our common shares are now DTC eligible, as it represents an important additional step forward in increasing liquidity, broadening our shareholder base, and building a strong presence for our company within the US capital markets sphere”.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, based in the United States, that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible". This electronic method of clearing securities streamlines the process of trading, enhances liquidity, and provides direct access to investors and brokers throughout the OTC Capital Markets in the United States.
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: 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 benefits of the Company’s OTCQB Venture resumption of trading and DTC Eligibility. 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: volatility in financial markets, economic conditions, and precious metals prices; regulatory approval process; 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 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 Engages US Digital Advertising Firm
Fredericton, New Brunswick – May 28, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has retained Winning Media LLC (”Winning Media”) of Houston, Texas to design and implement an investor-focused strategic digital media program, including marketing and data analytics services.
Fredericton, New Brunswick – May 28, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has retained Winning Media LLC (”Winning Media”) of Houston, Texas to design and implement an investor-focused strategic digital media program, including marketing and data analytics services.
Due to continuing travel restrictions related to the COVID-19 pandemic, TRU has limited ability to attend in-person meetings and conferences and will use Winning Media’s services to advertise the Company to US investors, focusing on the US retail audience. Winning Media has over 20 years of experience in the online advertising and investor relations industry. Services to be provided by Winning Media include copywriting and design and digital advertising.
The engagement of Winning Media will extend for a period of 3 weeks, to commence when authorized by the Company, currently anticipated to occur in June 2021. Winning Media has been paid an upfront cash retainer by the Company of US$100,000 for its services, to be deployed during the engagement term primarily for digital advertising spending. Neither Winning Media nor any of its principals own any securities of TRU directly or indirectly or have any present intention to acquire any securities of TRU, and there is no prior relationship between TRU and Winning Media. Winning Media has an office located at 1415 Voss Road, Suite 110 - 431, Houston, Texas, USA.
The engagement is subject to regulatory approval by TSX Venture Exchange.
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.
TRU Precious Metals appoints corporate secretary, collects final loan repayment, and grants incentive stock options
Fredericton, New Brunswick – May 27, 2021 – TRU Precious Metals Corp. (TSXV: TRU; OTCQB: TRUIF; FSE: 706) (“TRU” or the “Company”) is pleased to announce the appointment of Ms. Jo-Anne Archibald as Corporate Secretary of the Company effective as of June 1, 2021, subject to regulatory approval by TSX Venture Exchange (“TSXV”).
Fredericton, New Brunswick – May 27, 2021 – TRU Precious Metals Corp. (TSXV: TRU; OTCQB: TRUIF; FSE: 706) (“TRU” or the “Company”) is pleased to announce the appointment of Ms. Jo-Anne Archibald as Corporate Secretary of the Company effective as of June 1, 2021, subject to regulatory approval by TSX Venture Exchange (“TSXV”).
Ms. Archibald has over 30 years of experience working with private and public capital market companies, specifically in board governance, corporate secretarial services, investor relations, and consumer packaged goods marketing. She is also currently the Chief Executive Officer and founder of Canadian Corporate Board Advisory Services (CCBAS), and was President for eight years from 2011 to 2019 at one of Canada’s largest outsourced corporate secretarial services consulting firms located in Toronto.
Ms. Archibald will be replacing Robert Harrison in this capacity, who has relinquished his Corporate Secretary role to focus exclusively on his duties as Chief Financial Officer of the Company. The Company welcomes Ms. Archibald to its expanding team.
TRU is also pleased to announce that, further to its April 30, 2021 press release, the Company has now received the final repayment on its secured loan (the “Loan”) previously advanced in March 2020 to Revive Organics Inc. (“Revive”), a private company operating across North America in the ready-to-eat meals industry. The lump-sum payment of $222,667 comprised principal, interest, and fees. With this payment, received by the Company 4 days early, the Loan has now been repaid in full by Revive. The Company no longer has any legacy investments now that it has recovered all of its Loan principal, plus interest and fees, from Revive. The Company believes that this milestone evidences the merits of the Company’s capital allocation strategy to generate returns for its shareholders, and is also a testament to Revive’s creditworthiness as a borrower.
Finally, the Company also announces that, subject to TSXV approval, it has granted an aggregate of 1,480,000 incentive stock options (“Options”) to certain directors, officers, employees and consultants in accordance with the Company’s stock option plan. These Options have an exercise price of $0.385 each and a 3-year term. These Options vest immediately, with the exception of an aggregate of 550,000 Options granted to two investor relations firms pursuant to their respective contracts as was previously disclosed on February 25, 2021, which Options vest in 25% tranches at each of 3-, 6-, 9-, and 12-months post-grant. The Options granted today to such investor relations firms and to directors and officers of the Company, and any TRU shares issued upon exercise thereof within the next 4 months, are subject to a TSXV hold period expiring on September 28, 2021.
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 approvals and the impact of additions to the TRU management team. 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 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 Advances Phase One Exploration Program at Gander West Property
Fredericton, New Brunswick – May 25, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has recently commenced its inaugural mapping, soil sampling, till sampling and prospecting program at its Gander West exploration property in Central Newfoundland (the “Gander West Property” or “Gander West”).
Fredericton, New Brunswick – May 25, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has recently commenced its inaugural mapping, soil sampling, till sampling and prospecting program at its Gander West exploration property in Central Newfoundland (the “Gander West Property” or “Gander West”).
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 kilometres (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 grams per tonne gold over 25.6 meters. (1)
The Gander West Property is mostly unexplored and is located in the midst of a well-known gold belt, along a strong NE-SW structural lineament within a magnetic-low corridor, and immediately south of a prominent magnetic-high anomaly. High-grade gold occurrences (>50g/t Au in grab samples) occur in quartz veins 2.5 km southwest of the Gander West Property. (2) Additionally, a high-grade gold occurrence known as Little Joanna occurs approximately 5 km along strike to the northeast. Historic grab sampling from Little Joanna returned values ranging from 40 parts per billion (ppb) Au to 734 g/t Au. (3) The local geological features and nearby showings are set out in the two images below.
Vice President of Property Development of TRU, Barry Greene, commented, “After the first week of exploration at Gander West, crews have already collected grab samples of quartz veins containing sulphide mineralization and have noted the presence of structural features consistent with a northeast-southwest trending fault system. This is consistent with our geophysical and topographic interpretation of a regional scale structural linear.”
The Gander West Property Overview
(4)
The Gander West Property is already permitted for exploration, including ground geophysics, geochemical surveys, and prospecting.
TRU expects this limited field program to yield valuable geological and geochemical data to aid in defining targets for a more detailed phase two follow-up. The presence of high-grade gold occurrences along strike both northeast and southwest of Gander West, elevated lake sediment geochemistry on the property, and the prominent topographical and geophysical lineament along the full 10 km length of the property, presents a solid model for initial groundwork.
Co-Founder and CEO of TRU, Joel Freudman, added, “We believe that Gander West holds exciting potential. Less than a year ago, we embarked on building a district-scale land package focusing on the Central Newfoundland Gold Belt. Today, we have multiple properties comprising a commanding portfolio all within this prolific gold region, and Gander West is one of these properties. We think the proximity of Gander West to New Found Gold’s bonanza discovery hole is a solid case to begin systematic early-stage exploration on the property, which has seen barely any historical work. We are cognizant that an early understanding of structural geology at Gander West and the broader region will only benefit us as we prioritize work on our various projects.”
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: (647) 880-6414
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.
Information and links in this press release relating to New Found Gold Corp.’s Queensway Project and Little Joanna 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 exploration at the Gander West Property and the Company’s other mineral exploration properties. These statements are based on numerous assumptions regarding the Gander West Property and the Company’s strategy and 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 Gander West Property; the exploration potential of the Gander West Property and the nature and style of mineralization at the Gander West Property; 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.
(1) Source: 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/
(2) Source: Newfoundland Government MODS – Mineral Occurrence Database System and other publicly available sources.
(3) Source: Newfoundland Government MODS – Mineral Occurrence Database System and other publicly available sources.
(4) Source: Newfoundland Government MODS – Mineral Occurrence Database System and other publicly available sources.
TRU Precious Metals announces private placement of flow-through units
Fredericton, New Brunswick – May 20, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it intends to undertake a non-brokered private placement for gross proceeds of up to $3,500,000 (the “Offering”), subject to TSX Venture Exchange (the “Exchange”) approval.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Fredericton, New Brunswick – May 20, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it intends to undertake a non-brokered private placement for gross proceeds of up to $3,500,000 (the “Offering”), subject to TSX Venture Exchange (the “Exchange”) approval. The Offering shall consist of up to 12,962,963 flow-through units (the “FT Units”) at a price of $0.27 per FT Unit. TRU has been informed that Eric Sprott or a related entity intends to purchase approximately $2,000,000 of the FT Units immediately following closing of the Offering.
Joel Freudman, Co-Founder & CEO of TRU, commented: “We are excited to see strong institutional interest in financing TRU so quickly after our resumption of trading, and look forward to advancing the Offering to closing as expeditiously as possible.”
Each FT Unit will be 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 non-flow-through common share purchase warrant (a “Warrant”). Each Warrant shall be exercisable into one common share of TRU at a price of $0.35 per common share for a period of 36 months from the date of closing of the Offering, currently anticipated to occur next week. The completion of the Offering is subject to completion of necessary documentation and is conditional upon receipt of the approval of the Exchange.
The net 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 Golden Rose Project; and (ii) a limited phase one drilling program at the Twilite Gold Project.
The FT Shares and Warrants, and any common shares of TRU issuable upon exercise of the Warrants, will be subject to a hold period of four months and one day from the closing date of the Offering. Finder’s fees may be payable in connection with certain of the subscriptions to the Offering. No finder’s fees will be paid to non-arm’s length parties.
Other than the Offering, there is no new material information about the affairs 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: (647) 880-6414
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 the Offering and the anticipated closing date and use of proceeds thereof, the renunciation to the purchasers of the FT Units and timing thereof, the tax treatment of the FT Units 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 related to the ability of the Company to satisfy the conditions of the Offering and to close the Offering; the ability of the Company to accomplish its plans and objectives with respect to its exploration projects, within the expected timing or at all; 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 engages market-maker and digital advertiser
Fredericton, New Brunswick – May 19, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has engaged Venture Liquidity Providers Inc. (“VLP”) to initiate market-making services in order to provide additional liquidity and narrower bid-ask spreads for the Company’s common shares.
Fredericton, New Brunswick – May 19, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has engaged Venture Liquidity Providers Inc. (“VLP”) to initiate market-making services in order to provide additional liquidity and narrower bid-ask spreads for the Company’s common shares.
The market-making service will be undertaken by VLP through a registered dealer, W.D. Latimer Co. Ltd. (“Latimer”), in compliance with the policies of the TSX Venture Exchange (the “TSXV”) and other applicable laws. For these services, TRU has agreed to pay VLP a cash fee of $5,000 per month to be paid monthly, for a minimum of 3 months commencing on the date hereof, subject to termination at any time by either party. The Company and VLP act at arm’s length from each other, and VLP has no present interest, directly or indirectly, in the Company or its securities. The capital and shares required for the market-making service will be provided by Latimer.
Additionally, TRU is pleased to announce that it has retained Belair Capital Advisors Inc. (“Belair”) to provide digital marketing and engagement services to TRU. The Company has retained Belair for a 6-month period, during which Belair will facilitate an online and social media investor awareness campaign. TRU has agreed to pay Belair $50,000 in cash for these services, to be paid in three equal tranches, the first of which will be made upon signing and the other two on subsequent bi-monthly intervals. The Company and Belair act at arm’s length from each other, and Belair has no present interest, directly or indirectly, in the Company or its securities.
The agreements with each of VLP and Belair remain subject to regulatory approval by TSXV.
About Venture Liquidity Providers Inc.
VLP is a specialized consulting firm providing a variety of services focused on TSXV-listed issuers, and its corporate office is located at 204-304 Toronto Street, Uxbridge, Ontario, L9P 1Y2. VLP’s market-making service is provided by Latimer, a respected Canadian market-making firm. Latimer is a full-service securities dealer regulated by the Investment Industry Regulatory Organization of Canada, and its corporate office is located at 55 University Avenue, Suite 1601, Toronto, Ontario, M5J 2H7.
About Belair Capital Advisors Inc.
Belair is a specialized investor relations and strategic communications firm focused on increasing investor and brand exposure across digital platforms. They provide cutting edge solutions with data driven results to pre-public and public companies looking to drive sales, attract capital and increase shareholder value. Central to Belair’s value proposition is an integrated and multi-disciplinary team of seasoned professionals. Belair’s office address is 56 Jones Street, Oakville, Ontario, L6L 1A7.
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”.
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: (647) 880-6414
Email: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU 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
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 approvals and to the Company’s relationships with each of VLP and Belair. 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 process; 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 lists on Frankfurt Exchange and engages Star Finance for European Investor Communications
Fredericton, New Brunswick – May 17, 2021 – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (“TRU” or the “Company”) is pleased to announce that the Company’s shares have been accepted for listing on the Frankfurt Stock Exchange (“FSE”) and commenced trading on May 17, 2021 under the symbol (WKN: A2QE59) (FSE: 706).
Fredericton, New Brunswick – May 17, 2021 – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (“TRU” or the “Company”) is pleased to announce that the Company’s shares have been accepted for listing on the Frankfurt Stock Exchange (“FSE”) and commenced trading on May 17, 2021 under the symbol (WKN: A2QE59) (FSE: 706). Additionally, the Company has entered into a consulting agreement (the “Agreement”) with Star Finance GmbH (“Star Finance”) for European investor relations, market intelligence, and corporate communication services. Star Finance has offices in Steinhausen, Switzerland and Cologne, Germany.
TRU Co-Founder and CEO Joel Freudman commented, “We are pleased to commence trading on the Frankfurt Stock Exchange as it provides direct access to the European capital markets and an opportunity for TRU to increase trading liquidity as well expand our shareholder base throughout Europe. As the interest in gold and gold investments increases, having our common shares quoted in Euros will enable European investors to participate in TRU’s growth.”
Star Finance is owned and operated by Michael Adams, a communications professional with more than 15 years of experience assisting Canadian public companies with introductions to investors, primarily in Germany and German-speaking Europe. Among other services, Star Finance owns and operates two established investment-focused websites and provides information about investment opportunities to its audience through e-mail newsletters, websites, and various social media channels in the form of written articles as well as video content.
Under the Agreement, Star Finance will create and implement an investor relations program for the Company, assist in the organization and dissemination of Company information, and provide market intelligence services to the Company.
Neither Star Finance nor Michael Adams has a direct or indirect ownership interest in TRU or its securities, nor any right to acquire any such interest. All services provided by Star Finance will comply with applicable securities laws and the policies of the TSX Venture Exchange (the “TSXV”).
The Agreement has a 6-month term commencing on May 17, 2021, and costs €6,000 per month to be paid in cash by the Company. The aggregate fees of €36,000 payable under the Agreement are subject to a discount for full prepayment, which discount the Company will take advantage of. The Agreement remains subject to regulatory approval by TSXV.
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”.
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: (647) 880-6414
Email: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU 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
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Corporate information in this press release relating to Star Finance and its principal has been provided by Star Finance and has not been independently verified by the Company.
This press release contains certain forward-looking statements, including those relating to regulatory approval and the Company’s relationship with Star Finance and any expected benefits of listing the Company’s shares on the Frankfurt Stock Exchange. These statements are based on numerous assumptions regarding the Company’s corporate and investor relations strategies that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: regulatory approval processes; challenges in attracting and retaining qualified personnel; 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 completes change of business to mining issuer
Fredericton, New Brunswick – May 13, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that further to its press releases issued on February 2, 2021 and April 30, 2021, the Company has completed its Change of Business (as such term is defined in TSX Venture Exchange (the “Exchange”) Policy 5.2) to a “mining issuer” from its current classification as an “investment issuer”.
Fredericton, New Brunswick – May 13, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that further to its press releases issued on February 2, 2021 and April 30, 2021, the Company has completed its Change of Business (as such term is defined in TSX Venture Exchange (the “Exchange”) Policy 5.2) to a “mining issuer” from its current classification as an “investment issuer”.
In connection with the Change of Business and pursuant to Exchange requirements, the Company has filed a filing statement dated April 29, 2021 (the “Filing Statement”), together with a National Instrument 43-101 geological report on the Golden Rose Project (the “Geological Report”), under the Company’s SEDAR profile at www.sedar.com. Readers are strongly encouraged to review the Filing Statement and the Geological Report for full details on the Change of Business.
TRU Co-Founder and CEO Joel Freudman commented, “Today marks a seminal event for TRU. This is the outcome that we have been working towards over the past months: becoming a mining issuer. With our strong district-scale land package in the Central Newfoundland Gold Belt secured, having five properties within the region, we are well-positioned and well-funded to commence our various work programs. Once again, we thank all our loyal shareholders for their patience over these past months. We are excited to move forward with our business and exploration objectives, and to resume trading in our shares, so that we can grow TRU and continue to unlock value for our investors.”
The Company intends to resume trading on May 14, 2021. Upon resumption of trading, the Company will be listed on the Exchange as a Tier 2 “mining issuer”. The Company’s name and ticker symbol, “TRU”, will remain the same.
Further to its press release dated March 5, 2021, the Company is pleased to announce the release of funds held in escrow from its oversubscribed non-brokered private placement (the “Offering”) of gross proceeds of $3,500,212. Pursuant to the Offering, TRU issued 15,910,053 subscription receipts (the “Subscription Receipts”) at a price of $0.22 per Subscription Receipt. Each Subscription Receipt has been automatically exercised into one unit of the Company comprised of one (1) common share in the capital of the Company (each, a “Share”) and one (1) Share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one Share at a price of $0.35 for a period of 36 months following the date of closing of the Offering. Eligible finders received, on account of gross proceeds raised from subscribers to the Offering who were introduced by such finders, (a) a cash commission equal to an aggregate of approximately $115,777, and (b) an aggregate of 526,257 non-transferrable finder warrants, each of which will entitle the holder thereof to purchase one Share at a price of $0.22 for a period of 36 months following the closing date of the Offering.
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 entered into 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”.
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: (647) 880-6414
Email: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU 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
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of words and phrases such as “plans”, “expects”, “continues”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken or occur. Forward-looking information in this press release includes, without limitation, statements regarding resumption of trading of the Shares on the Exchange and TRU’s exploration plans and corporate strategy. This forward-looking information consists of disclosure regarding possible events, conditions or results and is based on numerous assumptions that management believes to be reasonable in the circumstances, including that TRU will be able to successfully execute on its corporate and exploration plans.
The forward-looking information in this press release is subject to a number of risks and uncertainties that may cause TRU’s actual results or performance to differ materially from those expressed or implied by such forward-looking information, including but not limited to risks inherent to the mineral exploration industry, and those risks described in the Company’s continuous disclosure documents. There can be no assurances that the forward-looking information herein will prove to be accurate, as actual results and future events may differ materially from those anticipated by such information. Accordingly, investors should not place undue reliance on such forward-looking information. TRU does not undertake to update any forward-looking information in this press release, except as required by applicable securities laws.
TRU Precious Metals closes option agreement with subsidiary of Altius Minerals to purchase Golden Rose Project
Fredericton, New Brunswick – May 12, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that it has closed the option agreement dated February 23, 2021 (the “Option Agreement”) with a subsidiary of TSX-listed Altius Minerals Corporation (TSX:ALS) (“Altius”) to purchase Altius’ Golden Rose Project (as defined below).
Fredericton, New Brunswick – May 12, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that it has closed the option agreement dated February 23, 2021 (the “Option Agreement”) with a subsidiary of TSX-listed Altius Minerals Corporation (TSX:ALS) (“Altius”) to purchase Altius’ Golden Rose Project (as defined below). This is further to the Company’s press releases dated January 7, 2021, February 2, 2021 and February 24, 2021.
TRU Co-Founder and CEO Joel Freudman commented: “We are delighted to welcome Altius as a strategic investor to TRU, as our largest shareholder. Our partnership to explore and develop the Golden Rose Project is an integral component of TRU’s growth trajectory. This transaction propelled TRU to its Change of Business to a mining issuer, for which we received conditional approval from the TSX Venture Exchange on April 30, 2021, and will be completing imminently. Having also raised $3.5 million to fund work on the Golden Rose Project and our other projects, as well as a variety of public company initiatives, we are excited about the evolution of TRU to an exploration and mining company.”
Golden Rose Project
The Golden Rose Project is a regional-scale land package covering 105 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 Valentine Gold Project to the northeast and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest.
Figure 1: Golden Rose Project Regional Location
In terms of top prospects, the South Woods Lake zone has yielded historical grab samples up to 65 grams per ton (g/t) of gold (Au), and drill intercepts including 1.37 g/t Au over 26.31 metres (m) and 2.14 g/t Au over 16.11 m. To date, the zone has been outlined to greater than 550 m on surface and remains open along strike and at depth. Gold mineralization at the South Woods Lake zone is hosted by variably textured, sheared and brecciated, intrusive rock, and within of a network of thin, anastomosing, quartz–pyrite ±arsenopyrite veins and fractures. Preliminary work suggests the gold occurs as fine, free gold.
Altius has also identified no fewer than five other historic and newly discovered prospects at the Golden Rose Project, both north and south of South Woods Lake, including several at which historic high-grade unsourced quartz-rich float have been found. Float samples testing up to 196.7 g/t Au were found at the Falls Zone, which has exposed mineralization with anomalous gold grades, as well as samples at Glimmer Pond of up to 213.8 g/t Au, which has strongly altered volcanic or sedimentary rock on the southeast side of the pond with anomalous gold grades.
Figure 2: Golden Rose Project Historical Drilling at South Woods Lake Zone
Mr. Freudman added, “With the recent flurry of positive exploration results and financing announcements coming from our neighbours in the Central Newfoundland Gold Belt, including most prominently New Found Gold and Marathon Gold, we are eager to begin working not only our Golden Rose Project but also our other projects located within this prolific gold region. With our commanding land position, market conditions that are highly favourable, and a plethora of great news coming from those neighbours and others like Sokoman Minerals and Canterra Minerals, we believe that we are in the right place at the right time.”
Terms of the Option Agreement
Pursuant to the Option Agreement, Altius has granted TRU the exclusive right and option (the “Option”) to acquire, subject to retention by Altius of a maximum 2.0% net smelter return (“NSR”) royalty, its 100% interest in a package of mineral claims located in the southwestern portion of the Central Newfoundland Gold Belt (the “Altius Claims”). Altius has also assigned an existing option agreement (the “Rose Gold Agreement”, and together with the Option Agreement, collectively, the “Transaction”) under which Shawn Rose (the “Rose Optionor”) has granted the exclusive right and option to acquire, subject to retention by the Rose Optionor of a royalty, his 100% interest in certain surrounding mineral claims known as the Rose Gold claims (the “Rose Gold Claims”). Collectively, the Altius Claims and the Rose Gold Claims are called the “Golden Rose Project”.
In order to acquire a 100% interest in the Golden Rose Project, the Company must issue such number of common shares in the capital of TRU (“TRU Shares”) as set forth below, and fund a total of $3,000,000 in exploration expenditures:
| Date | TRU Share Issuance | Exploration Funding Commitment |
|---|---|---|
| Completed on May 11, 2021 | 7,140,000 TRU Shares, at a deemed price of $0.25 per TRU Share |
Nil |
| Within one month from May 11, 2021 |
800,000 TRU shares, at a deemed price of $0.25 per TRU share |
Nil |
| By February 23, 2022 | 800,000 TRU Shares, at a deemed price of $0.25 per TRU Share |
$500,000 |
| By February 23, 2023 | 1,400,000 TRU Shares, at a deemed price of $0.25 per TRU share |
An additional $1,000,000 |
| By February 23, 2024 | Nil | An additional $1,500,000 |
In addition, TRU must pay the Rose Optionor: (i) $22,500, in cash or by issuance of TRU Shares, at the election of the Rose Optionor, on November 30, 2021; and (ii) $37,500, in cash or by issuance of TRU Shares, at the election of the Rose Optionor, on November 30, 2022. The deemed value of such TRU Shares, if issued in lieu of cash, shall be the greater of (a) $0.25 per TRU Share and (b) the closing price of such TRU Shares on the TSX Venture Exchange (the “Exchange”), on the day prior to such payment date.
TRU will also have to pay the Rose Optionor a $250,000 cash bonus if TRU defines at least 1,000,000 ounces of gold on the Rose Gold Claims in the Measured & Indicated categories of a National Instrument 43-101 mineral resource estimate. TRU shall also grant the Rose Optionor a 2.0% NSR on any future mineral production at the Rose Gold Claims.
Additional terms of the Option Agreement can be found in the Company’s press release dated February 24, 2021.
National Instrument 43-101 Disclosures
The technical information herein, including assays, relating to the Golden Rose Project 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 Golden Rose Project. A complete technical description of the Golden Rose Project is available in the technical report for the Golden Rose Project dated March 31, 2021, which is available on the Company’s SEDAR profile at www.sedar.com.
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 to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone, from a subsidiary of TSX-listed Altius Minerals Corporation. 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”.
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: (647) 880-6414
Email: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU 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
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains certain forward-looking statements, including those relating to completion of the Company’s Change of Business, corporate strategy and plans, use of financing proceeds, and the outlook for the gold sector. These statements are based on numerous assumptions regarding the Golden Rose Project and the Company’s prospects 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 Golden Rose Project; the exploration or monetization potential of the Golden Rose Project and the nature and style of mineralization at the Golden Rose Project; challenges in identifying, structuring, and executing transactions on favourable terms or at all; 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 obtains conditional approval for TSX Venture Exchange change of business to mining issuer
Fredericton, New Brunswick – April 30, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that further to its press release on February 2, 2021, the Company has received conditional approval from the TSX Venture Exchange (the “Exchange”) for a Change of Business (as such term is defined in Exchange Policy 5.2) to a “mining issuer” from its current classification as an “investment issuer”.
Fredericton, New Brunswick – April 30, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that further to its press release on February 2, 2021, the Company has received conditional approval from the TSX Venture Exchange (the “Exchange”) for a Change of Business (as such term is defined in Exchange Policy 5.2) to a “mining issuer” from its current classification as an “investment issuer”.
In connection with the Change of Business and pursuant to Exchange requirements, the Company has filed a filing statement dated April 29, 2021 (the “Filing Statement”), together with a National Instrument 43-101 geological report on the Golden Rose Project (the “Geological Report”), under the Company’s SEDAR profile at www.sedar.com. Readers are strongly encouraged to review the Filing Statement and the Geological Report for full details on the Change of Business.
TRU Co-Founder and CEO Joel Freudman commented, “Today marks an important milestone for our Company. We filed our initial comprehensive submission with the Exchange in early March shortly after completing our financing, and have aggressively advanced the Change of Business since, with thanks to the attentiveness and solutions-oriented approach of the Exchange, to secure conditional approval of our Change of Business in less than two months.”
The Company intends to complete the Change of Business and resume trading the week of May 10, 2021. The completion of the Change of Business remains subject to final approval by the Exchange and fulfillment of Exchange requirements, including among other things, obtaining shareholder approval of the Change of Business by way of written consents. Until final approval is obtained and a Final Exchange Bulletin is issued, trading in the common shares of the Company will remain halted. Upon resumption of trading, the Company will be listed on the Exchange as a Tier 2 “mining issuer”. The Company’s name and ticker symbol, “TRU”, will remain the same.
Mr. Freudman added, “Alongside the Change of Business, we have been hard at work mapping out our 2021 exploration programs and building an exploration team to position TRU as a contender in the prolific Central Newfoundland Gold Belt. Having recently closed an over-subscribed $3.5 million non-brokered private placement, we are well-funded for our near-term exploration plans for our Golden Rose Project as well as other initiatives, all aimed at unlocking value for our shareholders. I would like to thank all our loyal shareholders, old and new, yet again for their continued patience, and we are looking forward to resuming trading in the near term.”
Separately, the Company reports that further to its March 1, 2021 press release, the Company continues to receive punctual principal and interest repayments on its secured loan (the “Loan”) previously advanced in March 2020 to Revive Organics Inc., a private company operating across North America in the ready-to-eat meals industry. The Loan remains in good standing and on April 29, 2021, the Company received a payment of $223,500, one day before it was due. With that payment, the Company has now been repaid nearly all of this legacy investment, which matures in full on May 31, 2021 with a final $222,667 lump-sum payment of principal, interest, and fees, as TRU completes its transition to a mining issuer.
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 entered into 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”.
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: (647) 880-6414
Email: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU 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
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of words and phrases such as “plans”, “expects”, “continues”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken or occur. Forward-looking information in this press release includes, without limitation, statements regarding Exchange final approval of the Change of Business, shareholder approval of the Change of Business, resumption of trading of TRU’s common shares on the Exchange, TRU’s exploration plans and corporate strategy, and future Loan repayment. This forward-looking information consists of disclosure regarding possible events, conditions or results and is based on numerous assumptions that management believes to be reasonable in the circumstances, including that Exchange final approval will be obtained and that TRU will be able to successfully execute on its corporate and exploration plans.
The forward-looking information in this press release is subject to a number of risks and uncertainties that may cause TRU’s actual results or performance to differ materially from those expressed or implied by such forward-looking information, including but not limited to shareholder and regulatory approval processes, risks inherent to the mineral exploration industry, borrower counterparty risk of default, and those risks described in the Company’s continuous disclosure documents. There can be no assurances that the forward-looking information herein will prove to be accurate, as actual results and future events may differ materially from those anticipated by such information. Accordingly, investors should not place undue reliance on such forward-looking information. TRU does not undertake to update any forward-looking information in this press release, except as required by applicable securities laws.
GoldSpot Discoveries to Apply Artificial Intelligence to TRU Precious Metals Corp. Newfoundland Properties
Toronto, Ontario--(Newsfile Corp. - April 14, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (“GoldSpot” or the “Company“) is pleased to announce it has been engaged by TRU Precious Metals Corp. (TSXV: TRU) (“TRU”) to apply its proprietary machine learning technology and geoscience expertise on TRU’s Golden Rose and Twilite Gold projects, located in the prolific Central Newfoundland Gold Belt.
Toronto, Ontario--(Newsfile Corp. - April 14, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (“GoldSpot” or the “Company“) is pleased to announce it has been engaged by TRU Precious Metals Corp. (TSXV: TRU) (“TRU”) to apply its proprietary machine learning technology and geoscience expertise on TRU’s Golden Rose and Twilite Gold projects, located in the prolific Central Newfoundland Gold Belt. GoldSpot will bring its proven Artificial Intelligence (“AI”) expertise that has led to important mineral discoveries in the province to TRU’s exploration projects.
GoldSpot is a technology company focused on developing AI and other technology for the mining and exploration sector. GoldSpot is working with some of the leading exploration and mining names in the industry to apply cutting edge AI algorithms to significantly increase the efficiency and success rate of mineral exploration. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.
Denis Laviolette, Executive Chairman and President of GoldSpot, stated: “We are excited to bring our technology back to Newfoundland where we built tremendous expertise over the years. As the premier geological and data partner in the province, GoldSpot has worked with multiple exploration companies and their management teams to drive results. We are confident we will help TRU capitalize on their existing infrastructure and exploration potential to identify new discoveries on their properties.”
Joel Freudman, President and CEO of TRU Precious Metals, commented: "We are delighted to partner with GoldSpot, a company with a stellar reputation and highly-experienced technical team. We look forward to drawing on their AI technologies to target and accelerate our exploration program, particularly at our Golden Rose Project along the deposit-bearing Cape Ray - Valentine Lake Shear Zone. Having recently closed an over-subscribed $3.5 million financing, we are excited to begin work in earnest on our district-scale land package in the Central Newfoundland Gold Belt."
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology services company in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advanced geological modelling that saves times, reduces costs, and provides accurate results.
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 entered into 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”.
For further information, please contact:
Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: investors@goldspot.ca
Cautionary Statements
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
TRU Precious Metals hires Pearce Bradley, P.Geo. as exploration manager
Fredericton, New Brunswick– March 23, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that the Company has hired Pearce Bradley, BSc, P.Geo. as Exploration Manager for the Company’s district-scale property portfolio in the Central Newfoundland Gold Belt.
Fredericton, New Brunswick – March 23, 2021 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that the Company has hired Pearce Bradley, BSc, P.Geo. as Exploration Manager for the Company’s district-scale property portfolio in the Central Newfoundland Gold Belt. Mr. Bradley will oversee the planning, managing, and overall implementation of the Company’s mineral exploration programs, working closely with the Company’s Vice President of Property Development, Barry Greene, P.Geo.
A geologist with over 35 years’ experience, Mr. Bradley has worked across Canada in multiple roles in mineral exploration, mining, geotechnical and wellsite geology. He has performed many leadership and project management functions in each of these aspects, with a significant focus on Newfoundland exploration and mining development projects. Mr. Bradley most recently worked for Maritime Resources Corp. on its Hammerdown and Whisker Valley gold projects in the Baie Verte-Springdale Mining District in Newfoundland.
TRU Co-Founder and CEO Joel Freudman commented, “I am delighted to welcome Pearce to TRU. He is an excellent choice as our Exploration Manager, bringing a wealth of geological knowledge of Newfoundland. Pearce also has familiarity with the mine development process, both open pit and underground, from his prior employment with numerous gold and copper mining projects in Newfoundland. Pearce’s addition further amplifies our exploration team, to which we have also just added a Field Geologist for the 2021 exploration season. With TRU’s recent over-subscribed $3.5 million financing closed earlier this month, and the ongoing build-out of our team, TRU is increasingly well-positioned to unlock value for our enlarged shareholder base.”
TRU Exploration Manager Pearce Bradley added: “I am very excited about this opportunity to work with TRU on its exploration projects within the Central Newfoundland Gold Belt, including the Company’s flagship Golden Rose Project. I look forward to helping the entire team advance and build on the work that has already been done in amassing a promising land package in the region, and contributing to TRU’s systematic approach to its current and future exploration projects.”
The Company also wishes to provide an update that it continues to work with the TSX Venture Exchange (the “Exchange”) in order to complete its Change of Business (as defined in Exchange policies) as expeditiously as possible, and thereafter to resume the trading of the Company’s common shares on the Exchange. The Company filed its comprehensive submission with the Exchange in mid-March, and will provide a further update in this regard when there is any material development.
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 entered into 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”.
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, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Email: info@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU 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
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 press release.
This press release contains certain forward-looking statements, including those relating to Mr. Bradley’s expected contributions to the Company; the Company’s corporate strategy, and hiring and exploration plans; and the Change of Business. These statements are based on numerous assumptions regarding, among other things, Mr. Bradley’s involvement, the Company’s prospects, and Exchange review processes, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: challenges in recruiting and retaining qualified personnel; the exploration or monetization potential of the Company’s mineral properties; risks inherent in mineral exploration activities; regulatory approval processes; 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.