TRU NEWS
All disclosure filings, including news releases and financial documents can be found on the TRU Precious Metals SEDAR page.
TRU Acquires 100% Ownership of Altius’ Golden Rose Project
TRU Precious Metals Corp. is pleased to announce that it has concurrently exercised three option agreements to acquire 100% ownership of the Company’s flagship Golden Rose Project, as described below (Figure 1), located in the highly prospective Central Newfoundland Gold Belt.
Toronto, Ontario – November 30, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that it has concurrently exercised three option agreements to acquire 100% ownership of the Company’s flagship Golden Rose Project (“Golden Rose” or the “Project”), as described below (Figure 1), located in the highly prospective Central Newfoundland Gold Belt.
TRU Co-Founder & CEO Joel Freudman commented, “Acquiring 100% ownership of Golden Rose earlier than initially contemplated or required is a testimony to our confidence that there is much more discovery potential to uncover. Since optioning the Project from TSX-listed Altius Minerals Corporation in May 2021, we have worked with determination and prudence as we tactically consolidated the most prospective claims within and surrounding Golden Rose, alongside exploring the Project. We are now the sole owners of this formidable land package, flanked on either side by deposit-bearing neighbours. We intend to expand TRU's pipeline of drill-ready targets across the Project through relatively low-cost, but high-upside, exploration methods, to ultimately prepare for what we are hopeful will be an exciting 2023 drill program.”
The Company has exercised the following option agreements:
Option Agreements with Altius and Shawn Rose
On May 12, 2021, TRU announced that it had closed a definitive option agreement with a subsidiary of TSX-listed Altius Minerals Corporation (“Altius”), by which Altius granted to TRU the exclusive right and option (the “Altius Option”) to acquire, subject to retention by Altius of a maximum 2.0% net smelter return royalty (“NSR”), its 100% interest in a package of mineral claims located in the southwestern portion of the Central Newfoundland Gold Belt (the “Altius Claims”).
In connection with the Altius Option, Altius also assigned to TRU a supplementary option agreement under which Shawn Rose granted TRU the exclusive right and option (the “Rose Option”) to acquire, subject to retention by Shawn Rose of a 2.0% NSR, his 100% interest in certain surrounding mineral claims known as the Rose Gold claims (the “Rose Claims”).
Collectively, the Altius Claims and the Rose Claims formed the initial basis of Golden Rose. The Company has subsequently more than doubled the size of Golden Rose through a series of other transactions.
TRU has now exercised the Altius Option as well as the accompanying Rose Option by issuing 1,400,000 common shares of TRU (“TRU Shares”) to Altius at a deemed price of $0.25 per share, and paying $37,500 in cash to Shawn Rose, pursuant to the terms of the respective option agreements. The Company previously satisfied all other terms of such agreements, including the requirement under the Altius Option to incur $3,000,000 of exploration expenditures prior to February 2024.
Figure 1: Golden Rose Project Property Location and Ownership Map
Option Agreement for King George IV Lake Claims
On July 13, 2021, the Company entered into an option agreement with an arm’s length individual under which TRU was granted the exclusive right and option (the “KG4 Option”) to acquire, subject to retention by the optionor of a 2.0% NSR, 100% interest in certain claims along the shoreline of King George IV Lake, all of which are contiguous with Golden Rose. Further details are available in the Company’s press release dated July 14, 2021.
TRU has exercised the KG4 Option by issuing to the optionor 100,000 TRU Shares at a deemed price of $0.08 per share, and an additional 500,000 TRU Shares at a deemed price of $0.08 per share in a shares for debt transaction in satisfaction of a $40,000 cash-or-shares payment obligation. These payments were due to be made by July 13, 2023.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 236 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; 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; 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 Announces Visible Gold and High-Grade Gold Results from Rock Samples Collected in Mark’s Pond and Rich House Targets at Golden Rose
Mark’s Pond trench grab samples return assay results as high as 1,929 g/t Au
TRU announces high-grade gold results from a recent rock (grab) sampling program conducted on the Company’s claims under option at its Golden Rose Project in Central Newfoundland.
Mark’s Pond trench grab samples return assay results as high as 1,929 g/t Au
Toronto, Ontario – November 23, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce high-grade gold results from a recent rock (grab) sampling program conducted on the Company’s claims under option at its Golden Rose Project (“Golden Rose”) in Central Newfoundland. The bedrock and float grab sample results are very encouraging and indicate the high-grade gold potential at the Company’s Mark’s Pond and Rich House targets located along the highly prospective Cape Ray-Valentine Lake Shear Zone.
Highlights
Visible gold is evident in outcrop and in bedrock grab samples collected from a recently extended trench at Mark’s Pond. The grab samples were taken from a sheared volcaniclastic and graphitic unit containing a significant number of quartz-carbonate veins. Mapping and channel sampling within the trench have confirmed the presence of visible coarse- and fine-grained gold both within these quartz-carbonate veins and the surrounding wall rock along a newly discovered shear zone approximately 130 m northwest of the Mark’s Pond Gold Zone.
Three bedrock grab samples collected from newly exposed outcrop in the Mark’s Pond trench have returned very high-grade gold assay results from total pulp metallics analysis (metallic screening) including weighted average total Au values of 1,929 g/t Au, 205.6 g/t Au, and 180.1 g/t Au (Table 1 and Figure 2).
Four bedrock grab samples collected at the Rich House target along the northern shore of Victoria Lake returned weighted average total Au values between 4.3 and 16.8 g/t Au from metallic screening analysis (Table 1 and Figure 1).
A series of channel samples have been collected in the recently excavated 275 m long trench at Mark’s Pond including a 23 m long easterly extension at the southern end of the trench along strike of the gold-bearing volcaniclastic and graphitic shear zone. Those assay results are pending from the laboratory.
TRU Co-Founder and CEO Joel Freudman commented:
“We are very encouraged by these grab sample results from the Mark’s Pond and the Rich House targets, which have revealed very impressive gold grades and suggest that substantial gold mineralization is present along this 4 to 5 km long structural trend north of Victoria Lake. Based on these grab sample results, we look forward to receiving the gold assay results from our channel sampling program, which should help us characterize the grade consistency and potential width of this newly discovered gold-bearing shear zone. This new data along with the expected results from the channel sampling program will assist us in prioritizing the Mark’s Pond and Rich House targets for our 2023 drilling program. We have been very deliberate in locking up this Golden Rose district scale land package, and early results from this field program confirm our strategy of building this out to be a turn-key project.”
Figure 1: Grab Sample Results at Mark’s Pond and Rich House Targets
Figure 2: Grab sample results within Mark’s Pond trench
Technical Summary
The Company recently completed its fall exploration program where it collected a number of soil, till, and rock (grab) samples from various locations in the Mark’s Pond and Rich House target areas, where historical exploration had identified several gold showings. Visible disseminated fine-grained and coarse-grained free gold was evident in panned soil and till samples, outcrops, and within several rock samples collected in the recently extended trench at Mark’s Pond. A total of 3 bedrock grab samples were collected from newly-exposed outcrops in the Mark’s Pond trench. A total of 5 bedrock grab samples were collected from outcrops at Rich House during recent prospecting to confirm historical gold results. Three float samples were also collected 575 m southeast of the Mark’s Pond Gold Zone and returned assay results between 1.0 to 8.5 g/t Au.
The grab sample assay results are shown in Figures 1 and 2 and summarized below in Table 1. The anomalously high-grade gold result received at Mark’s Pond (1,929 g/t Au) was returned from a 1.2 kg bedrock sample taken from a sheared volcaniclastic and graphitic unit with visible gold in the Mark’s Pond trench. The TRU geologist collected three clean bedrock grab samples at various locations within the trench prior to commencing channel sampling. TRU instructed Eastern Analytical Ltd. (“Eastern Analytical”) to complete a total pulp metallics analysis for each submitted sample due to the presence of coarse gold and the nugget effect potentially affecting a typical fire assay result. Because the screen metallic analysis for this sample returned an anomalously high gold value, Eastern Analytical completed several internal QAQC checks and reruns to verify the high-grade gold result was precise prior to its final release. Readers are cautioned that grab samples are selective by nature, and the gold values reported may not represent the true grade or style of mineralization at Mark’s Pond.
Table 1: Gold assay results from screen metallic analysis of grab samples at Mark’s Pond and Rich House targets
Note: Weighted average total gold assay results shown above were determined using Total Pulp Metallic analysis (metallic screening) to mitigate the nugget effect of coarse visible gold in the samples. Sample weights are shown in grams (g) and gold values are shown in grams per tonne (g/t). Numbers have been rounded.
Channel Sampling Program – Mark’s Pond Trench
TRU has collected a series of channel samples within the recently excavated 275 m long trench including a 23 m long easterly extension at the southern end of the trench along strike of the gold-bearing volcaniclastic and graphitic shear zone (Figure 2). The trench is located approximately 130 m north of the historically drilled Mark’s Pond Gold Zone. The Mark’s Pond trench was extended to the north to test a second, multiple line, east-west trending historical gold-in soil anomaly that had not been previously trenched or drilled. A high-resolution drone (UAV) imagery survey has been completed by Insite Surveys of Burgeo, NL over the entire trench also capturing the channel sampling locations. The drone imagery has been georeferenced for structural mapping purposes and to precisely locate the channel samples for geological modelling.
The TRU channel sampling program included the insertion of QAQC materials (certified standards, blanks, and field duplicates) and the samples have been sent to Eastern Analytical in Springdale, NL for fire assay and ICP multi-element geochemistry analyses with results still pending. Any samples returning a fire assay result greater than 1 g/t Au will automatically trigger a total pulp metallics analysis of the sample to mitigate the presence of the nugget effect of coarse gold and to better characterize the coarse- and fine-grained gold fractions within these prominent gold bearing units.
Results from the channel sampling program at the Mark’s Pond trench will be released once all fire assay and metallic screening gold results have been received from Eastern Analytical.
Sampling, QAQC, and Analytical Procedures
All rock (grab) samples were either collected from outcrops (bedrock) or as float samples and put into sample bags with unique sample tags by TRU field staff. The exact location of the collected grab sample was taken using a handheld GPS unit and field notes were taken on lithology, structure, and mineralization. The grab samples were securely transported by TRU field staff to Eastern Analytical’s laboratory in Springdale, NL. Eastern Analytical is a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using Total Pulp Metallic analysis (metallic screening) to mitigate the presence of the nugget effect of coarse gold.
Eastern Analytical Total Pulp Metallic Sieve Procedure: Crush entire sample to approximately 80% (-10 mesh). Total sample is pulverized to approximately 95% (-150 mesh) in 200-300g portions. Sieve all pulverized material through 150 mesh screen. The total (+150 mesh) fraction is all fire assayed as one sample and the weight recorded. The entire (-150 mesh) fraction is rolled to homogenize and stored in a plastic bag. The entire weight of the (-150 mesh) fraction is recorded. A 30g sample is fire assayed from the (-150 mesh) portion. The two fire assay results (+150 and -150 mesh) are calculated (with the total weight of the sample to provide a weighted average of the sample) and the weighted average Au result is reported.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing a QAQC program consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 (“NI 43-101”).
Cautionary Statements
Please note that soil, till, rock, and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its Qualified Person to define a mineral resource or deposit; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource.
The reader is cautioned that descriptions of mineralization and soil anomalies reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs completed by the Company.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the grab and soil sampling results and certified analytical data underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process and TRU’s Exploration Manager has also verified the information disclosed. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed in this news release.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt, and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a recently discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two large claim packages covering 33.25 km2 including a 12 km strike length along the Cape Ray - Valentine Lake Shear Zone within Golden Rose.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
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.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration plans at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling and exploration programs and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Provides Exploration Update Including Additional Gold Targets at Golden Rose Project
TRU Precious Metals Corp. provides an update on additional field work being completed across several key prospective areas at its flagship Golden Rose Project in Central Newfoundland.
Toronto, Ontario – October 25, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to provide an update on additional field work being completed across several key prospective areas at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
The Company is currently focused on completing trenching, soil, till, and rock sampling on the Golden Rose Project prior to the commencement of the winter season. Priority has been given to exploring highly prospective target areas based on both historical and recent exploration results and known geophysical anomalies. These areas include the Woods Lake gold zone (“Woods Lake”), Jacob’s Twin gold-copper-silver discovery area and the recently optioned Staghorn property (Figure 1).
TRU Co-Founder and CEO Joel Freudman commented: “We are pleased to be closing out the 2022 field season with additional work at Golden Rose. We have embarked on several cost-effective exploration initiatives, that allow us to protect TRU’s treasury and capitalization structure while advancing multiple targets across the project towards the drill-ready stage for a third round of drilling in 2023. We are fortunate to be adequately funded to complete this work, especially considering prevailing depressed market conditions.”
Figure 1: General location map indicating recent exploration activities at Golden Rose
Jacob’s Twin
At the Jacob’s Twin target area, a comprehensive soil sampling program was conducted in early 2022. Soil samples were collected at a 25 metre (m) spacing along 100 m spaced lines. A coincident copper-gold soil anomaly was identified 750 m to 1.2 kilometres southwest of the recently announced Jacob’s Twin gold-copper-silver discovery (please refer to TRU news release dated September 22, 2022). Based on these findings, the Company decided to conduct an additional 50 m spaced infill soil sampling program to further delineate the newly identified copper-gold soil anomaly.
Woods Lake and surrounding area
A total of 323 soil samples and 31 till samples were recently collected.
Mark’s Pond and Rich House
Trenching and prospecting work has commenced on these claims, with an immediate focus on the Mark’s Pond gold zone (“Mark’s Pond”) and Rich House gold prospect (“Rich House”) (Figure 1).
An historical trench at Mark’s Pond from 2020 is being re-opened and extended to complete channel, soil and till sampling.
Prospecting and rock sampling were recently completed at Rich House, where historical grab samples returned up to 189.2 grams per ton (g/)t gold at the main mineral occurrence, and visible gold has been previously reported.
The assay results from all the exploration programs described above are still pending from various independent laboratories and will be released by the Company in due course.
Cautionary Statements
Please note that soil, rock, and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose.
Any descriptions of mineralization, soil/till and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant metal assay values if and when drilled by the Company in the future.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt, and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 269 km2 land package, including a newly discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
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.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration plans at Golden Rose and to the adequacy of the Company’s working capital. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling and exploration programs and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Reinforces Team with New Vice President of Exploration
TRU announces that after a period of succession planning, Mr. Paul Ténière, P.Geo. has been appointed as Vice President of Exploration effective October 1, 2022, subject to regulatory approval by TSX Venture Exchange.
Toronto, Ontario – October 3, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that after a period of succession planning, Mr. Paul Ténière, P.Geo. has been appointed as Vice President of Exploration effective October 1, 2022, subject to regulatory approval by TSX Venture Exchange (“TSXV”).
Mr. Ténière will be responsible for leading exploration activities at the Company’s flagship Golden Rose Project (“Golden Rose”) in the Central Newfoundland gold belt, assuming day-to-day responsibilities from Mr. Barry Greene who has transitioned from his role as Vice President, Property Development to an advisory capacity as chair of the Company’s Technical Committee. Mr. Greene remains on the Company’s board of directors.
Mr. Ténière is a Professional Geologist with nearly 25 years of diverse experience in the mining and oil & gas sectors in Canada, United States, and internationally, taking projects from the exploration stage to mine development. He was formerly the Chief Geologist for Sherritt International Corp., and an Exploration Manager for Vale S.A. and Solid Energy New Zealand, developing large-scale coal mining projects in Alberta, Saskatchewan, Australia, and New Zealand. He has also worked on numerous carbonate-hosted Mississippi Valley Type (MVT) and SEDEX lead-zinc deposits, porphyry-style copper-lead-zinc deposits, and gold-silver-PGM deposits in Canada, United States, Latin America, Australia, New Zealand, and Europe.
Mr. Ténière has also held a variety of geological and/or corporate executive-level positions with several publicly traded junior exploration companies and was also previously Senior Listings Manager at the Toronto Stock Exchange and TSXV. He is a registered Professional Geologist (P.Geo.) in Ontario, New Brunswick, and Newfoundland and Labrador, and a Qualified Person as defined by National Instrument 43-101. He holds a Bachelor of Science (Honours) degree in Earth Sciences from Dalhousie University and a Master of Science degree in Geology from Acadia University.
TRU Co-Founder & CEO Joel Freudman commented, “We are pleased to welcome Paul to TRU to lead our exploration team and programs. Paul’s extensive and diverse experience will add considerable insight as TRU continues to build on our recent polymetallic discovery at Golden Rose. We wish to thank Barry for his efforts to date at Golden Rose, and his foundational role with TRU. Barry was instrumental to our acquisition of Golden Rose and has worked tirelessly in its development over the past two years.”
Barry Greene, Director of TRU, added: “When I agreed to join TRU, my mandate was to oversee and build out our exploration capabilities, alongside leveraging business contacts to identify and help negotiate property acquisition agreements. Having been closely involved with TRU for nearly two years, I am very pleased with the exploration progress we have made to date. I am now ceding my day-to-day responsibilities to Paul so I can move toward a founder and corporate builder career path. I remain enthusiastic about the prospects for Golden Rose, so I look forward to continuing to stay involved with TRU as a director and significant shareholder and helping Paul transition into his new role .”
Under Mr. Greene’s exploration leadership, TRU:
Acquired Golden Rose and numerous contiguous property packages, consolidating a dominant land position on a 45 kilometre (km) transect of the Cape Ray-Valentine Lake structural corridor.
Carried out infill drilling at Woods Lake Gold Zone, expanding the gold zone and identifying avenues for expansion.
Identified a 20 km splay off the Cape Ray-Valentine Lake shear zone corridor, with several prospective gold and polymetallic targets.
Identified a new copper-gold-silver prospect in its second drilling program.
The Company is also reporting the appointment, subject to TSXV regulatory approval, of Mr. Heran (Kevin) Zhou as Corporate Secretary, replacing Jo-Anne Archibald. Mr. Zhou is a finance and economics specialist and is currently a financial analyst with Resurgent Capital Corp. (“Resurgent”). Prior to joining Resurgent, he acquired work experience globally in Canada, the United States and China, serving analytical roles in private equity and asset management firms. He has sound practical experience in corporate finance, venture capital markets, and private equities. Mr. Zhou holds a B.Com. with distinction from the University of Toronto.
Mr. Freudman commented, “We thank Ms. Archibald for her dedicated efforts over the past year in enhancing our corporate governance framework. We wish her the very best in her future endeavours.”
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 266.25 km2 land package, including a newly discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to regulatory approval 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 Opens Up New Copper-Gold-Silver Discovery at Golden Rose
TRU announces assay results from a new drill discovery at its flagship Golden Rose Project in Central Newfoundland. The 13-hole, 2,147.4 metre drilling program focused on the Jacob’s Pond area, principally the Jacob’s Twin showing, one of the five grids property-wide where the Company recently completed an extensive IP Survey.
Toronto, Ontario – September 22, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce assay results from a new drill discovery at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). The 13-hole, 2,147.4 metre (“m”) drilling program focused on the Jacob’s Pond area, principally the Jacob’s Twin showing, one of the five grids property-wide where the Company recently completed an extensive IP Survey.
Highlights
Drill intersection of multiple copper-gold-silver zones in altered conglomerate (table 1).
Last hole to intersect the discovery, JP-22-13, returned high-grade copper and silver.
Discovery remains open for expansion in multiple directions.
2022 soil sampling has defined a secondary promising target between 750m to 1.2 kilometres (“km”) southwest from the new discovery area.
Barry Greene, VP of Property Development and Director of TRU, commented: “It is always rewarding to drill under a newly discovered copper-gold bearing quartz-carbonate vein system and to upgrade it in drill core at depth. Our discovery hole, JP-22-10, and step-out hole, JP-22-13, confirms that we are in the early stage of defining an exciting new prospect with significant expansion potential. Additional step-out drilling will be required to start delineating shape, orientation and ultimately continuity of this new discovery.”
The Jacob’s Twin copper (“Cu”) -gold (“Au”) -silver (“Ag”) discovery contains multiple intervals of quartz-carbonate-sulphide veining (figures 1& 2).
The veining in hole JP-22-10 was discovered while drilling directly under a creek where a series of copper-gold bearing outcrops (see press release dated August 4, 2022) were found during 2022 summer exploration, with samples grading 1.10% to 4.19% Cu and 2.76 grams per tonne (g/t) Au. An upper mineralized zone in hole JP-22-10 from 129m to 142.3m was followed by a lower 22.6m zone from 178.4m to 201m down hole depth, containing quartz-carbonate veining and copper mineralization, the lower 3.0m interval of which assayed 1.03% Cu, 0.71g/t Au, and 24.95g/t Ag from 193.45m to 196.45m. Jacob’s Twin correlates with a high chargeability Alpha IP anomaly near the sheared contact with a flow banded rhyolite.
Follow-up drilling, in final hole JP-22-13, approximately 15m down dip of hole JP-22-10, also intersected a mineralized vein system between 187.5m-199.5m down hole depth (figure 2). The highlight of this zone assayed 1.10% Cu, 0.87 g/t Au, and 46.60 g/t Ag over 2.8m from 197 to 199.8m, including 1.14m at 2.19% Cu, 1.39g/t Au, and 108.3 g/t Ag from 198.66m to 199.8m.
TRU Co-Founder and CEO Joel Freudman added: “Drilling at Golden Rose continues to uncover the immense potential of this property, and we are barely scratching the surface. I am especially pleased with our intersect of high-grade copper, which is a critical mineral input in electric vehicles and a wide range of other ‘clean energy’ and industrial uses. With less than 7,000 metres drilled to date by TRU at Golden Rose, across two modest drill programs, we are already unveiling what we believe to be a polymetallic zone, in addition to the known gold zone elsewhere on the property. I want to acknowledge the efforts of our exploration executives, Barry Greene and Pearce Bradley, in securing the Jacob’s Pond area for TRU last year and advancing it to this new discovery zone. This is another step toward establishing that Golden Rose is geologically prospective and hosts multiple commodities, on a massive property package that has seen little to no exploration.”
Mr. Freudman continued: “Additionally, and of great significance to TRU, we are also excited that our neighbour Marathon Gold has publicly disclosed its intention to commence mine construction at the Valentine Gold Project in early 2023, becoming an operating mine producing gold by early 2025. We expect this will attract renewed interest to the Valentine Lake Shear Zone, as TRU continues to build a turnkey polymetallic project with a robust pipeline of drilling and exploration potential.”
The Company continues to await final assay results for some holes peripheral to the primary mineralized zones, which are not expected to return significant values of mineralization.
A second promising drill target is shaping up along the same structural trend approximately 750m to 1.2km to the southwest of the Jacob’s Twin target area (figure 1). This new target contains many highly anomalous Au and Cu soil anomalies in a tightly clustered grouping and along the same trend of anomalous IP chargeability. This area shows the potential for expansion of the mineralized system along a regional trend.
Figure 1 – Jacob’s Twin drilling with high priority target along trend
Figure 2 – Cu-Au-Ag discovery in quartz-carbonate-sulphide veins from DDH JP-22-10
Table 1 – Jacobs Twin Cu-Au-Ag-Target - uncut assay highlights
Figure 3 – IP chargeability zone with mineralized zones indicated
Table 2 – Jacobs Twin Collar Details
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is geotechnically measured, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. CRM standards and blanks are inserted at regular intervals in the sample stream. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. Core samples are analyzed at either SGS in Burnaby B.C., or Eastern Analytical Ltd. (“Eastern Analytical”) of Springdale, NL.
Eastern Analytical is a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. True widths for reported intervals have yet to be determined.
SGS is a commercial laboratory that is independent of TRU. Rock and core samples are shipped to the SGS Grand Falls-Windsor Mobile Sample Prep facility where they are sorted, logged, weighed, dried at 105 C, crushed to 75% passing 2 mm, split to 250 g, and pulverized for 85% passing 75 microns. Pulps are shipped within the SGS lab network to SGS Burnaby, where they are typically tested by 30 g fire assay with AAS for gold, and aqua regia digest with ICP-AES for the 34 element package. Over limit analysis for Au is done with fire assay and gravimetric finish, and multi-elements by ore grade sodium peroxide fusion with ICP-AES.
Soil samples are sorted, logged, weighed, dried at 60 C and screened to 180 microns. Undersized material is shipped to SGS Burnaby, where samples are typically tested by 30 g fire assay with ICP-AES for gold and aqua regia digest with ICP-AES for the 34 element package.
SGS laboratories operate a Laboratory Information Management System (SLIM). The SLIM system includes method set up protocols (analytes, ranges, internal QC materials that include blanks, duplicates, replicates, and reference materials) as well as their frequency of insertion and tolerance requirements. Quality control is performed at the sample preparation stage to include % passing requirements at the crush and the pulverizing stages at set frequencies and QC samples are added to every batch of samples throughout the entire process at a frequency of ~10-15% and include preparation blanks, preparation duplicates, pulp replicates, method blanks and certified reference materials. SLIM is also used to monitor our internal processes for instruments, equipment, sample tracking, storage and reporting formats. SLIM uses a secure and complete audit trail to ensure traceability and confidentiality.
SGS Burnaby facility is accredited to the requirements of ISO/IEC 17025 for various tests listed on their scope of accreditation at https://www.scc.ca/en/search/laboratories/sgs
The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
National Instrument 43-101 Disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose 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.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 233 km2 land package, including a newly discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to exploration plans at Golden Rose, and to Marathon Gold’s development plans for the Valentine Gold Project. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling and exploration programs and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Closes Option Agreement for Staghorn Project and Achieves Strategic Consolidation of Cape Ray – Valentine Lake Shear Zone
TRU Precious Metals Corp. has closed the definitive option agreement dated June 15, 2022 with Quadro Resources Ltd to acquire up to an aggregate 65% ownership in Quadro’s Staghorn Project located in central Newfoundland.
Toronto, Ontario – August 18, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that further to its news release dated June 16, 2022, it has closed the definitive option agreement dated June 15, 2022 (the "Option Agreement") with Quadro Resources Ltd. (“Quadro”).
Pursuant to the terms of the Option Agreement, the Company has the option to acquire up to an aggregate 65% ownership in Quadro’s Staghorn Project (the “Staghorn Project”) located in central Newfoundland. The Staghorn Project is a large claim package of 133 claim units in eight mineral licences covering 3,325 hectares with a 12 km strike length of the auriferous Cape Ray Fault Zone. The Staghorn Project is comprised of two distinct groups of licenses (see Figure 1) which are immediately within and/or adjacent to TRU’s flagship Golden Rose Project (“Golden Rose”).
Figure 1: Staghorn Project Claims Under Option
Joel Freudman, Co-Founder and CEO of TRU commented: “This is a transformational acquisition for TRU. Since the start of 2022, we worked assiduously to add this final lynchpin to Golden Rose and have now successfully achieved our long-stated strategy of complete consolidation of the Cape Ray - Valentine Lake Shear Zone (the “CR-VL Shear Zone”) between our immediate neighbours, Marathon Gold and Matador Mining, both of whom have significant gold deposits on their properties. With this acquisition, Marathon Gold, Matador Mining and TRU are now the dominant players in control of the CR-VL Shear Zone.”
The Company has issued 1,084,171 common shares to Quadro in respect of the first share issuance due under the Option Agreement. The deemed price of such issuance shares is approximately $0.092 per share, representing the volume-weighted average trading price of TRU’s common shares on the Exchange for the 20 previous consecutive trading days. The future obligations under the Option Agreement are outlined in TRU’s news release of June 16, 2022.
All common shares issued pursuant to the terms of the Option Agreement are subject to a hold period under applicable securities laws for a period of four months plus one day from the date of issuance. For further information regarding the Option Agreement and the Staghorn Project, see the Company's news release dated June 16, 2022.
Mr. Freudman added: “Based on our internal data compiled from extensive fieldwork at Golden Rose and due diligence on the Staghorn Project, we believe that the mineralization on the latter is similar to that at Golden Rose. We continue to build out a turn-key gold and copper project at Golden Rose.”
Qualified Person and National Instrument 43-101 Disclosures
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 (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to Quadro and the Staghorn Project has been compiled from publicly available sources and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to the Option Agreement transaction and acquiring and exploring the Staghorn Project. These statements are based on numerous assumptions regarding the Option Agreement transaction with Quadro 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 Staghorn Project and/or Golden Rose; the exploration potential of the Staghorn Project and/or Golden Rose; 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; 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 Options Out its Twilite Gold Project to Eastern Precious Metals
TRU has entered into an option agreement with Eastern Precious Metals Corp., pursuant to which Eastern has been granted the option to acquire a 100% interest in the Company’s Twilite Gold Project located in the Central Newfoundland Gold Belt. The Project consists of 65 claims covering 16.25 square kilometres located along the deposit-bearing Cape Ray - Valentine Lake structural corridor.
Toronto, Ontario – August 16, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Agreement”) with Eastern Precious Metals Corp. (“Eastern”), pursuant to which Eastern has been granted the option to acquire a 100% interest in the Company’s Twilite Gold Project (“Twilite Gold” or the “Project”) located in the Central Newfoundland Gold Belt. The Project consists of 65 claims covering 16.25 square kilometres located along the deposit-bearing Cape Ray - Valentine Lake structural corridor.
Agreement Highlights:
Eastern can earn a 100% interest in the Project;
TRU would receive up to 2,500,000 common shares of Eastern (“Shares”) within 100 days of the Effective Date (as defined below), such Shares to have a deemed issue price per Share equal to $0.10 (the “Initial Shares”). A portion of the Initial Shares received will be distributed to TRU shareholders;
Within three years of the Listing Date (as defined below), TRU would receive an additional number of Eastern Shares worth $150,000; and
Eastern would fund a minimum of $450,000 in exploration expenditures at the Project over a three-year period.
TRU Co-Founder & CEO Joel Freudman commented, “We are pleased that we are starting to deliver on our previously announced corporate strategic objectives that support our exploration efforts, as we disclosed on June 2, 2022. This transaction monetizes an asset currently under-utilized by TRU, and will strengthen TRU’s balance sheet while yielding a direct benefit to TRU’s shareholders. Most importantly, this allows TRU to focus on our flagship Golden Rose Project, where we recently announced a 2,000-metre diamond drill program.”
“We are very excited to have signed an option agreement to acquire the Twilite Gold Project in Central Newfoundland,” stated Aaron Eisenberg, CEO of Eastern. “We look forward to building upon TRU's initial exploration program to further expand on their findings.”
Details about prior work completed at Twilite Gold, by TRU, including a Phase 1 diamond drilling program, are available in the Company’s news releases dated October 8, 2021, September 15, 2021 and August 18, 2021.
Terms of the Agreement
In order to acquire the 100% interest in the Project, Eastern must issue to TRU the number of common shares in the capital of Eastern and must fund a minimum of $450,000 in exploration expenditures as follows:
The Company has agreed to engage a Qualified Person, as defined in NI 43-101, to author and produce an NI 43-101 technical report on the Project (the “Technical Report”) at the sole cost of Eastern. There are certain anti-dilution rights and penalty provisions in the Company’s favour which apply prior to Eastern’s listing.
If Eastern does not list its common shares on a Canadian stock exchange within seven months from the Effective Date, the Company will be issued 1,000,000 additional Shares at a deemed price of $0.10 per share for no additional consideration.
Closer to the Listing Date, the Company intends to distribute approximately 63% of the Initial Shares to the shareholders of TRU as a dividend or other distribution. The Company expects that the Initial Shares being distributed to TRU shareholders will be free trading on Eastern’s listing on a recognized Canadian stock exchange, with the balance of the Shares held by TRU subject to voluntary share resale restrictions staggered over a 9-month period starting on the Listing Date.
In accordance with the Agreement, the Project is subject to a 4-kilometre area of influence, within which any claims acquired by Eastern or TRU during the Agreement term shall be deemed to form part of the Project. Should Eastern not exercise its option under the Agreement, 100% of the Project will revert to TRU. Throughout, and exclusively limited to, the term of the Agreement, Eastern shall be the exclusive operator with overall responsibility for the operations of the Project.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
About Eastern Precious Metals Corp.
Eastern Precious Metals is a mineral exploration company, that will be focused on exploring for gold and other minerals at the Twilite Gold Project in the Central Newfoundland Gold Belt. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
For further information about Eastern, please contact:
Aaron Eisenberg
CEO & Director
Eastern Precious Metals Corp.
Phone: +1 (416) 270-5459
Email: aeisenberg@plazacapital.ca
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the Agreement and the re-distribution of the Initial Shares. These statements are based on numerous assumptions regarding Twilite Gold, the Agreement, and the Shares, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: whether the terms of the Agreement will be fulfilled in whole or in part, and whether the option granted by the Agreement will be exercised; challenges in identifying, structuring, and executing transactions on favourable terms or at all; tax and regulatory risks relating to distribution of the Shares; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Announces 2,000 Metre Drill Program at the Jacob’s Pond area of the Golden Rose Project
TRU Precious Metals Corp. announces an approximately 2,000 metre (m) diamond drill program at the Company’s flagship Golden Rose Project located in the Central Newfoundland gold belt.
Toronto, Ontario – August 4, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that an approximately 2,000 metre (m) diamond drill program is underway at the Company’s flagship Golden Rose Project (“Golden Rose’’) located in the Central Newfoundland gold belt. The drilling will focus on the Jacob’s Pond area, where the Company recently completed an extensive IP Survey to determine high-priority areas and targets.
Drilling has commenced with a plan to complete approximately 10-12 diamond drill holes. The two key target areas dubbed Jacob’s Main and Jacob’s Twin (Figure 1) will form the basis of this initial drilling. These areas have never been drilled before.
Drill Targets Rationale
Mineralization can be directly correlated with the base of an extensive IP geophysical anomaly.
Identification of approximately 75m section of creek bed containing numerous copper-gold (Cu-Au) bearing quartz veins and brittle fractures hosted by conglomerate. True thickness of the mineralized zone is estimated at approximately 15-20m based on intermittent outcrops.
Summer 2022 grab sampling results include 6 out of 21 samples grading from 1.10% Cu to 4.19% Cu including one sample grading 3.42% Cu and 2.76 grams per tonne (g/t) Au. (Figure 2)
Conglomerate host rocks also contain frequent secondary copper rich (malachite) blebs after primary chalcocite/bornite. Mineralization occurs within and near the sheared contact between conglomerate and rhyolite
Barry Greene, VP of Property Development and Director of TRU, commented: “We have been diligently completing geochemical, geological and geophysical surveys over the past year and now feel ready to test a number of these targets where our combined data is leading us. Given the location of these targets along the Cape Ray-Valentine Lake structural corridor, which hosts proven gold deposits on adjacent claims, we are delighted to have broken ground.”
Figure 1 – Two Key Target Drilling Areas – Jacob’s Main and Jacob’s Twin
Figure 2 – 2022 Jacob’s Twin IP Chargeability Anomaly and Rock Samples
About Jacob’s Pond
The Jacob’s Main and Jacob’s Twin areas contains numerous coincident geological/geochemical/geophysical anomalies over approximately four kilometers of extent, which forms part of the 20 km structural trend on the northwest side of Golden Rose. Only a small selection of these potential anomalies will be targeted during this drill campaign.
During TRU’s summer 2022 field program, while ground truthing a copper-gold-silver soil anomaly with coincident IP anomaly on the Jacob’s Twin area, TRU’s geological team was excited to identify a heavily mineralized section of a natural stream bed. This bedrock mineralized zone is located within 75m of the highest-grade sample collected by TRU in 2021. The 2021 sample of very angular quartz vein float material contains bornite and chalcocite and graded 14.3 g/t Au, 368.0 g/t silver (Ag), and 11.0% Cu. Additionally, several new occurrences of similar mineralized angular float material have been unearthed. The 75m section of creek bed contains several quartz vein swarms which contain variable thickness of vein material up to about 2m thickness. The veins, hosted by a polylithic conglomerate, contain brittle fractures that have been infilled by common copper minerals including bornite, chalcocite and chalcopyrite. Additionally, the sheared conglomerate contains highly flattened clasts, some of which appear to be sulphide clasts with malachite coating the dull grey sulphide. This sulphide is believed to be chalcocite. Samples have been selected for polished section for positive identification of minerals and to assist with understanding the timing of mineralization. Several drill holes are proposed to evaluate this mineralized zone, which plots on the base of a very strong IP anomaly that continues for many hundreds of metres. To date, bedrock sampling along trend/strike of this creek has uncovered copper mineralization associated with conglomerate over approximately 200m.
This drill program is anticipated to take approximately 4 weeks to complete, and results will be released in batches in the early fall.
Shareholder Meeting Results
The Company is also reporting voting results from the Annual & Special meeting held on July 21, 2022. Shareholders approved all items of business, including electing each of the directors nominated by management, namely, Joel Freudman, Barry Greene, Damian Lopez, Colin Sutherland and David Hladky. The shareholders also approved: the reappointment of McGovern Hurley LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year; the Company’s amended stock option plan; and a potential corporate name change. The Company amended its stock option plan to align with the TSX Venture Exchange’s recently amended Policy 4.4 Security Based Compensation. A copy of the stock option plan was included in the Information Circular which has been filed on SEDAR.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of 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 (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in precious and base 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 Signs Definitive Option Agreement for Consolidation of Final Contiguous Gold Property at Golden Rose Project
TRU has signed a definitive option agreement dated June 15, 2022 with Quadro Resources Ltd. pursuant to which TRU has been granted the option to acquire up to an aggregate 65% ownership in Quadro’s Staghorn Project.
Toronto, Ontario – June 16, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it has signed a definitive option agreement dated June 15, 2022 (the “Option Agreement”) with Quadro Resources Ltd. (“Quadro”), pursuant to which TRU has been granted the option to acquire up to an aggregate 65% ownership in Quadro’s Staghorn Project.
The Staghorn Project (the “Staghorn Project”) is a large claim package of 133 claim units in eight mineral licences covering 3,325 hectares (33.25 square kilometres (“km2”)) with a 12 km strike length of the auriferous Cape Ray Fault Zone. The Staghorn Project is comprised of two distinct groups of licenses which are immediately within and/or adjacent to TRU’s flagship Golden Rose Project (“Golden Rose”). Golden Rose is a regional-scale land package covering approximately 236 km2 in the Central Newfoundland Gold Belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone (the “CR-VL Shear Zone”).
Joel Freudman, Co-Founder and CEO of TRU commented: “This transaction is fundamental to TRU’s vision of consolidating Golden Rose. Upon completion, we will achieve TRU’s strategy of complete consolidation of the CR-VL Shear Zone, between our immediate neighbours Marathon Gold and Matador Mining, both of whom have significant gold deposits on their properties. Almost exactly one year ago on June 15, 2021, we unveiled our corporate strategy entitled TRU Vision 2021, where we outlined our intent to build shareholder value by exploring and developing and, when opportune, consolidating the CR-VL Shear Zone. I am therefore pleased with today’s announcement as we continue to work diligently and strategically to develop a turn-key gold and copper project.’’
Figure 1: Staghorn Project Claims Under Option
Terms of the Option Agreement
Pursuant to the terms of the Option Agreement, Quadro has granted TRU the exclusive right and option to acquire up to an aggregate 65% interest in its Staghorn Project in two stages.
In order to acquire an initial 51% interest in the Staghorn Project, TRU must make the following payments, issue the following shares in the capital of TRU (the “Shares”), and incur the following exploration and drilling expenditures on the Staghorn Project on or before the corresponding dates set forth below:
Upon acquiring the initial 51% interest in the Staghorn Project, TRU may acquire an additional 14% interest by doing the following: (i) pay $200,000 in cash; (ii) issue $250,000 in Shares at the Issuance Price; and (iii) incur an additional $850,000 of exploration expenditures, including a minimum of $510,000 of drilling activity.
Upon TRU acquiring the 51% interest in the Property or the 65% interest in the Property as the case may be, TRU and Quadro shall enter into a joint venture agreement containing normal industry standard terms.
The closing of the Option Agreement remains subject to customary conditions and government approval of Quadro’s filed assessment reports for the Staghorn Project, and also remains subject to regulatory approval by the Exchange. The transaction is an “arm’s length transaction” as defined in the policies of the Exchange. There are no finder fees payable in connection with the Option Agreement. All Shares issued under the Option Agreement will be subject to a hold period expiring four months plus a day from the date on which the Shares were issued.
Qualified Person and National Instrument 43-101 Disclosures
The reported grades in this press release are not representative of mineralization across the properties and TRU has not done sufficient work to independently verify the reported results.
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 (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to Quadro and the Staghorn Project has been compiled from publicly available sources and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to completing the Option Agreement transaction and acquiring and exploring the Staghorn Project. These statements are based on numerous assumptions regarding the Option Agreement transaction with Quadro 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 Staghorn Project and/or Golden Rose; the exploration potential of the Staghorn Project and/or Golden Rose; 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; 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 Provides Update on 2022 Exploration Program at Golden Rose Project
TRU is pleased to provide an update on its 2022 exploration program, previously announced on March 22, 2022, ongoing at the Company’s flagship Golden Rose Project located in the Central Newfoundland gold belt on the deposit-bearing Cape Ray-Valentine Lake Shear Zone.
Toronto, Ontario – June 2, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to provide an update on its 2022 exploration program, previously announced on March 22, 2022, ongoing at the Company’s flagship Golden Rose Project (“Golden Rose’’) located in the Central Newfoundland gold belt on the deposit-bearing Cape Ray-Valentine Lake Shear Zone.
Soil Sampling
The soil sampling program is designed to identify new gold mineralization and provide additional targets for TRU’s 2022 trenching and drilling programs at the developing Jacob’s Pond target area at Golden Rose. The Jacob’s Pond area is a target-rich corridor of low- to high-grade gold-copper-silver mineral occurrences which have strong IP geophysical anomalies and soil anomalies which extend over four kilometers.
The work is focusing on completing and infilling gaps in soils coverage over the two primary deep seated structural corridors that have been delineated over much of the strike length running through the property.
The program will collect about 3,000 samples, reduced from an initial 10,000 to reallocate funds to drilling. Approximately 1,000 of the samples will be conducted over the Jacob’s Pond-Bear Pond structural corridor by extending grid lines from the 2021 soil sampling program to close off and fully define a multi-element (copper-lead-zinc-gold-silver) soil anomaly. The results of these samples will be incorporated into the upcoming Jacob’s Pond drill program.
TRU VP of Property Development and Director Barry Greene commented: “The Jacob’s Pond corridor of the Golden Rose property contains most, if not all, of the ingredients normally found in advanced orogenic gold prospects and deposits. I have seldom been as enthusiastic about an exploration project.”
The remaining approximately 2,000 samples will be done over the numerous known gold bedrock showings on which minimal previous geochemical or ground geophysical coverage is available, and which are located on primary, secondary or tertiary order structures which emanate from a crustal scale shear zone. Of particular interest in the southwest are the Glimmer Pond, Mink Pond and Falls Zone gold showings, which display a combination of quartz veining and/or regional silicification. Historical prospecting in the Glimmer Pond area did identify a quartz rich float sample with visible gold with a grab sample which assayed 213.8 grams per tonne (g/t) gold.
Drilling
Drilling is anticipated to commence early in the third quarter and will focus on the Jacob’s Pond area. Approximately 10 drill holes are proposed consisting of 2,000 metres.
Corporate Strategy
TRU Co-Founder and CEO Joel Freudman commented, “We expect this to be an exciting summer as we continue to advance Golden Rose. As TRU continues its evolution as a junior mineral explorer, we are evaluating a wider range of exploration and corporate opportunities and strategies consistent with our stated mission to build long-term shareholder value through prudent natural resource property development and transactions. The asymmetric exploration potential of Golden Rose, driven by the drill bit, remains TRU’s key value driver. To supplement our exploration plans and fortify our balance sheet, we also continue to assess corporate initiatives, such as monetizing non-core properties, that will support TRU’s efforts to generate revenues and cashflows through building a diversified portfolio of inflation-resistant natural resources assets.”
The Company also announces that, subject to regulatory approval, on June 1, 2022, it granted an aggregate of 4,560,000 incentive stock options (“Options”) to its employees and consultants in accordance with the Company's stock option plan. All such Options have an exercise price of $0.14 per share and a 3-year term. These grants are intended to foster long-term personnel retention as well as corporate and exploration performance. Of these Options an aggregate of 1,115,000 vested immediately; 2,230,000 vest in 12 months from grant date; and the remaining 1,215,000 vest only upon the achievement of a variety of specified corporate milestones.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to exploration activities at Golden Rose and the Company’s corporate strategy. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s exploration and corporate 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; challenges involved in sourcing and structuring transactions, and transaction execution risk; volatility in precious and base metals prices; difficulties in attracting and retaining qualified personnel; 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 Releases 3D Model of IP Survey for Jacob’s Pond Target Area at Golden Rose Project
TRU Precious Metals Corp. announces additional results of its Induced Polarization survey at the Company’s flagship Golden Rose Project.
Toronto, Ontario – May 25, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce additional results of its Induced Polarization (“IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of April 13, 2022. Golden Rose is located in the Central Newfoundland gold belt on the deposit-bearing Cape Ray-Valentine Lake Shear Zone.
TRU retained Simcoe Geoscience Limited (“Simcoe”) to deploy Simcoe’s next-generation wireless, high-definition Alpha IP technology to conduct a survey comprising 56 line kilometres (km) of wireless time domain IP on newly-defined plus underexplored historical gold exploration targets at Golden Rose. The results in this press release pertain to the developing Jacob’s Pond target area in the northeast of Golden Rose.
Highlights of IP Survey of Jacob’s Pond Include:
Delineation of an open-ended 4-kilometer-long IP anomalous trend associated with copper-gold-silver-zinc-lead in soils, correlating with chalcopyrite in outcrop and in sheeted quartz veins along the Jacob’s Pond trend.
1.6-km-long IP anomaly correlating with the primary high-grade Jacob’s Pond and Rose Gold copper-gold-silver veins, significantly increasing the potential footprint of the mineralized zone.
Drill target selection has commenced and permits for trenching and drilling at Jacob’s Pond are pending.
TRU VP of Property Development and Director Barry Greene commented: “Having confirmed that the Jacob’s Pond area hosts high-grade copper-gold-silver values in mineralized quartz vein networks at surface, our confidence level was further bolstered when a regional soil sampling survey produced a multi-kilometer anomalous trend in copper-gold-silver-zinc-lead that indicated a potential for much greater distribution to the mineralized system. Now that this 3D IP chargeability model coincides with the high-grade quartz veins and the anomalous soils, we are even more confident in the prospectivity of the Jacob’s Pond area, as we have three different exploration techniques that corroborate the same prospective targets. This IP model is the final layer of exploration data we needed to plan for a comprehensive and systematic trenching and drilling program in the summer and fall of 2022.”
The 3D IP model (Figure 1) shows the shape of the surface and subsurface regions which can hold an electric charge, referred to as an IP anomaly. This method, known as IP geophysics, is regularly used in gold exploration, where gold mineralization is associated with other metals in the ground which can hold an electric charge. The IP anomalies are represented as orange to pink-coloured regions, with hotter colours (pink) representing a stronger IP anomaly.
The existence of gold-bearing rock samples collected from IP anomalies that reach the surface, upgrades the exploration potential of the IP anomalies and provides some context as to the potential size of the overall target. Not all IP anomalies are prospective, therefore, collecting soil samples above multiple IP anomalies can further narrow down areas of interest. If soil is analyzed and is shown to contain gold, plus other metals (such as copper, lead, zinc and silver) (see Figure 2), and those soil samples are situated above areas that can hold an electric charge, then those areas are assigned higher rankings as prospective targets.
When several prospective targets are identified in this manner, exploration then moves to the trenching and drilling stage to define the geometry, grade and continuity of mineralized zones. Accordingly, drill target selection for TRU’s 2022 drill program has commenced.
Figure 1 – 3D model of IP Geophysics in Jacob’s Pond area with copper-gold-silver samples
Figure 2 – Copper, Zinc, Lead, Silver, Arsenic and Gold in Soils – Jacob’s Pond area
On May 23, 2022, the field component of the IP survey concluded following the completion of the east Woods Lake area covering the underexplored Sure Shot and Hill Top historic gold showings which contained grab samples of shear hosted quartz veins grading 2.9 grams per tonne (g/t) gold at Sure Shot and 25.8 g/t gold at Hill Top. The analysis and interpretation phase of the IP survey is ongoing.
2021 Drill Program – Final Results Update
The Company is also reporting that results from the final 6 holes of the 2021 drill program have been received; however, there are no additional gold assays of note.
National Instrument 43-101 Disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose 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.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at
https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s exploration and drilling plans, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in precious and base 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 Closes $1,468,800 Non-Brokered Private Placement
TRU Precious Metals Corp. announces that on May 17, 2022 it closed the non-brokered private placement announced on April 26, 2022 and subsequently amended on May 4, 2022.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – May 19, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that on May 17, 2022 it closed the non-brokered private placement (the “Offering”) announced on April 26, 2022 and subsequently amended on May 4, 2022.
TRU Co-Founder and CEO Joel Freudman commented: “This capital raise will allow us to continue upon our early success at our regional-scale Golden Rose Project, where we continue to achieve increasingly exciting results in our exploration program as we advance towards drilling at the highly prospective Jacob’s Pond area. I am especially pleased that we raised funds despite these turbulent markets. We are delighted by the support of Sprott Asset Management and welcome the Marquest Advantaged Mining 2022 Super Flow-Through LP as a new TRU shareholder. The broad participation of our management and board in the Offering, and in particular a significant investment by Resurgent Capital Corp., is a clear signal of our faith in our strategy and the discovery potential of Golden Rose.”
The Company raised gross proceeds of $888,600 from the issuance of flow-through units (“FT Units”) at a price of $0.14 per unit. Each FT Unit consists of one flow-through common share in the capital of the Company (the “FT Shares”), and one flow-through common share purchase warrant (a “FT Warrant”) exercisable for one non-flow-through common share in the capital of the Company (a “Share”) at a price of $0.16 for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as a “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The Company also raised gross proceeds of $387,700 from the issuance of hard dollar units (“HD Units”) at a price of $0.125 per unit. Each HD Unit consists of one Share and one common share purchase warrant (a “HD Warrant”, and together with the FT Warrants, the “Warrants”) exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The Company can elect to accelerate the expiry date of the Warrants in the event that the volume-weighted average trading price of the Shares on the TSX Venture Exchange (“TSXV”) equals or exceeds $0.30 for the five preceding trading days, in which case the Warrants will expire thirty days after the date that the Company provides written notice of acceleration.
Subscriptions by insiders of the Company accounted for $171,250 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(b).
The securities issued are subject to a statutory hold period expiring September 18, 2022. The Offering is subject to final approval of the TSXV.
Eligible finders received cash commission equal to an aggregate of $54,166, and an aggregate of 389,900 finder warrants, each of which will entitle the holder thereof to purchase one Share at a price of $0.16 for a period of 24 months following the Closing Date.
On May 18, 2022, the Company closed a second tranche of the Offering consisting of 200,000 FT Units and 1,316,000 HD units for gross proceeds of $192,500, which was delayed due to settlement timing. Eligible finders will receive a cash commission of $13,335 and 105,000 finder warrants. The securities issued in the second tranche will be subject to a statutory hold period expiring September 19, 2022.
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 (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the Offering. These statements are based on numerous assumptions regarding the Offering and the Company’s 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: risks related to the ability of the Company to satisfy the conditions of the Offering and to close the Offering; 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; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; 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 Announces Amendment to Previously Announced $2.5 Million Non-Brokered Private Placement
TRU announces that further to its press release dated April 26, 2022, it has revised the terms of its proposed $2,500,000 non-brokered private placement.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – May 4, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) announces that further to its press release dated April 26, 2022, it has revised the terms of its proposed $2,500,000 non-brokered private placement (the “Offering”).
The Company intends to raise gross proceeds of up to $2,000,000 from the issuance of flow-through units (“FT Units”). Each FT Unit will consist of one flow-through common share in the capital of the Company (the “FT Shares”) and one flow-through common share purchase warrant (a “FT Warrant”) exercisable for one non-flow-through common share in the capital of the Company (a “Share”) for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company has revised the terms of the FT Units and FT Warrants, such that the price of the FT Units will be amended to $0.14 per FT Unit, and the exercise price of the FT Warrants will be amended to $0.16 per Share.
The Company also intends to raise gross proceeds of up to $500,000 from the issuance of hard dollar units (“HD Units”) at a price of $0.125 per unit. Each HD Unit will consist of one Share and one common share purchase warrant (a “HD Warrant”) exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The exercise price of the non-transferrable finder warrants that eligible finders will be entitled to receive has also been amended to $0.16 per Share.
All other terms of the FT Units and FT Warrants remain the same, and there are no changes to the terms of the HD Units and HD Warrants. The Offering is anticipated to close on or about May 17, 2022.
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 (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the Offering. These statements are based on numerous assumptions regarding the Offering and the Company’s 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: risks related to the ability of the Company to satisfy the conditions of the Offering and to close the Offering; 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; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; 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 Announces $2.5 Million Non-Brokered Private Placement
TRU intends to complete a non-brokered private placement for gross proceeds of up to $2,500,000.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – April 26, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $2,500,000 (the “Offering”).
The Company intends to raise gross proceeds of up to $2,000,000 from the issuance of flow-through units (“FT Units”) at a price of $0.16 per unit. Each FT Unit will consist of one flow-through common share in the capital of the Company (the “FT Shares”) and one flow-through common share purchase warrant (a “FT Warrant”) exercisable for one non-flow-through common share in the capital of the Company (a “Share”) at a price of $0.20 for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as a “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The Company also intends to raise gross proceeds of up to $500,000 from the issuance of hard dollar units (“HD Units”) at a price of $0.125 per unit. Each HD Unit will consist of one Share and one common share purchase warrant (a “HD Warrant” and together with the FT Warrants, the “Warrants”) exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The Company can elect to accelerate the expiry date of the Warrants in the event that the volume-weighted average trading price of the Shares on the TSX Venture Exchange (“TSXV”) equals or exceeds $0.30 for the five (5) preceding trading days, in which case the Warrants will expire thirty (30) days after the date that the Company provides written notice of acceleration.
The gross proceeds from the issuance of FT Units will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) related to the Company’s mineral exploration projects, primarily for drilling at the Company’s Golden Rose Project in central Newfoundland. The proceeds from the issuance of HD Units will be used for general corporate and public company purposes.
The Offering is anticipated to close on or about May 17, 2022. In connection with the Offering, eligible finders will receive (a) a cash commission equal to 7% of the gross proceeds raised from subscribers to the Offering who were introduced by such finder, and (b) such number of non-transferrable finder warrants ("Finder Warrants") as is equivalent to 7% of the number of FT Units and/or HD Units, as applicable, issued to such subscribers. Each Finder Warrant will entitle the holder thereof to purchase one Share at a price of $0.20 for a period of 24 months following the Closing Date. All securities issued under the Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to TSXV approval. The maximum gross proceeds under the Offering is $3,000,000.
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 (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the Offering and the use of proceeds thereof. These statements are based on numerous assumptions regarding the Offering and the Company’s 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: risks related to the ability of the Company to satisfy the conditions of the Offering and to close the Offering; 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; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; 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 Announces Realigned Executive Roles and Appoints its CFO Olga Nikitovic as President
TRU Precious Metals Corp. announced appointments of key executives to realigned management roles.
Toronto, Ontario – April 19, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) announced today the following appointments of key executives to realigned management roles.
To facilitate the accelerated execution of TRU’s strategic vision and exploration plans, the Company has appointed its Chief Financial Officer, Olga Nikitovic, to also hold the office of President. She will now oversee all the Company’s corporate and exploration functions on a day-to-day basis. The Company’s Chief Executive Officer, Joel Freudman, will exclusively focus on setting TRU’s strategy and leading capital markets initiatives, including corporate transactions and financing.
TRU Co-Founder and CEO Joel Freudman commented: “I am delighted to expand Olga Nikitovic’s role as TRU’s new President now that she is firmly established as our Chief Financial Officer. Olga’s professional background, business acumen and extensive experience in senior management roles in the junior resource sector make her an ideal teammate as we both drive forward TRU’s strategy and objectives. We also take this opportunity to thank Stephen Lautens for having served as interim President during this period of transition who will be joining InvestorIntel Corp. as its new Publisher, Editor in Chief and Director.”
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the impact of changes 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; 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 Releases Interim IP Survey Results Over Gold and Copper Showings
Toronto, Ontario – April 13, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce preliminary results of its Induced Polarization (”IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of February 9, 2022.
Toronto, Ontario – April 13, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce preliminary results of its Induced Polarization (”IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of February 9, 2022.
TRU VP of Property Development and Director Barry Greene commented: “Since we first acquired Golden Rose in 2021, the Jacob’s Pond area stood out as being particularly prospective, requiring serious exploration attention. Prospector Shawn Rose did a good job of highlighting an anomalous trend from surface sampling over about 1 km as a starting point for TRU. In 2021 TRU expanded upon the surface sampling. Having now lived with the project for about a year, I believe that the IP data is firmly upgrading that trend in three dimensions, and the surface samples could be just the tip of the iceberg. We are pleased to have now developed many drill and trench targets over a 2 km stretch which will be our focus as the field season approaches.”
Highlights Include:
The two Jacob’s Pond bedrock gold showings, including a three-meter-wide quartz vein breccia system, have been directly detected by the IP as high-resolution chargeability zones that are larger at depth. Bedrock mineralization grading 3.9 grams per tonne (g/t) gold and 5.61 % copper in a grab sample appears to be directly associated with a large IP anomaly.
A large and strong chargeability high located 900 metres southwest of the Jacob’s Pond gold showings occurs directly below a cluster of three angular high grade float samples. A 2021 grab sample of this material by TRU personnel assayed 14.3 g/t gold, 368.0 g/t silver and 11.0% copper. (See TRU press release dated November 24, 2021, for additional details.)
The IP survey has now identified a continuous chargeability high, trending over approximately 2 km along strike, directly associated with a regional multi kilometer copper and gold soil anomaly. IP data has now been collected up to line 43 (see figure 1).
The strong IP chargeability appears to broaden at depth and is continuing to the northeast approaching the Rose Gold bedrock showing, where historic grab sampling returned 20.3 g/t gold, 1.79% copper and 5.3 g/t silver in a grab sample from a hand trench.
TRU Co-Founder and CEO Joel Freudman added: “We are pleased that our extensive IP work is yielding such positive results and delineating prospective drill targets at Golden Rose. Work to date has significantly increased our understanding of the geological model and will help focus our ongoing exploration and tap into what we now believe is a treasure trove of gold and copper targets. In late November of 2021 we announced the discovery of this highly prospective new 20 km district-scale structure at Golden Rose, in addition to the 45 km section of the Valentine Lake Shear Zone transecting Golden Rose, and so we believe our real estate only continues to appreciate as we diligently and methodically work to unearth the tremendous value at Golden Rose.”
TRU is very encouraged by the early results from the IP survey over the Jacob’s Pond area, which in turn forms a part of the greater than 20km long gold soil anomalous trend identified by TRU as disclosed on November 24, 2021. This Jacob’s Pond section of the IP survey is being carried out on the newly emerging segment of what appears to be a continuation of the Cape Ray Shear Zone.
Figure 1 – Plan View of IP Lines with Mineral Occurrences and Copper/Gold in Soils
Figure 2 – Selected IP Sections with Mineralized Samples
None of the unfolding targets have ever been mechanically trenched or drilled and the area remains a raw grassroots discovery of potentially considerable size.
TRU retained Simcoe Geoscience Limited (“Simcoe”) to deploy Simcoe’s next-generation wireless, high-definition Alpha IP technology at Golden Rose. The IP survey is covering newly-defined plus underexplored historical gold exploration targets. The survey will comprise approximately ¬¬¬56 line kilometre (km) of wireless time domain induced polarization using Simcoe's Alpha IP™ system. The use of wireless technology substantially reduces the footprint of the survey and the time required as line cutting is not required. The survey is expected to be completed in approximately thirty days.
National Instrument 43-101 Disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose 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.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF; FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s exploration and drilling plans, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Drills More Gold at Golden Rose Project and Releases Woods Lake Gold Zone Model
Toronto, Ontario – April 7, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce new assay results from an additional 5 of the 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). In addition, TRU is releasing a longitudinal cross section model (see Figure 1) of the Woods Lake Gold Zone (“Woods Lake”), which was the primary focus of that drill program.
Toronto, Ontario – April 7, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce new assay results from an additional 5 of the 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). In addition, TRU is releasing a longitudinal cross section model (see Figure 1) of the Woods Lake Gold Zone (“Woods Lake”), which was the primary focus of that drill program.
TRU has now reported on 16 holes in total, with assays from the remaining 6 holes still pending. This includes 4 holes at the King George IV area (“KG4”) and 2 holes at Woods Lake. Reported drilling results at Woods Lake now define a primary gold zone that is 800 metres (m) in strike length (from holes WL-21-06 to WL-21-14) and is open both along strike and at depth.
Highlights
1.51 grams per tonne (g/t) gold over 11m from 71.0m down hole in DDH WL-21-05, within a broader interval of 0.59 g/t gold over 38m from 49.0m depth down hole. (see Table 1)
Woods Lake has now been intersected in drilling over 800m along strike. It remains open for expansion along strike and down dip, and the recent drilling has begun to outline a potential southwest and southeast plunge.
TRU Co-Founder and CEO Joel Freudman commented: “This early drilling success at Golden Rose only scratches the surface of the substantial potential and underexplored nature of this property. Woods Lake was the sole previously known gold zone at Golden Rose, and we are pleased with our results there to date, yet we expect numerous additional mineralized areas remain to be discovered and or proved up across the property. As such, we are also excited about our 2022 work and exploration program already underway at Golden Rose. We are grateful to our exploration team, thank them for their hard work so far and look forward to their ongoing contributions to TRU’s continued exploration success. We remain focused on executing our exploration strategy and will continue to deliver meaningful progress and results in the coming months.”
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both Woods Lake and KG4 . Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, and is located directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, added: “Our drill data continues to successfully define a potential bulk tonnage gold zone at Woods Lake. As we input infill drilling assays to our gold zone model, it points to a zone that appears to plunge in two directions. This will provide additional vectors in which to target deeper drilling. We feel this is further evidence of the inherent value at Golden Rose and are, therefore, evermore excited about our current property-wide work program underway.”
Table 1 – Woods Lake Uncut Assay Highlights
Figure 1 – Woods Lake Gold Zone Plan and Longitudinal Model
This model is further evidence that Woods Lake lies within a significant and complex fold structure (flexure), localized along the Valentine Lake Shear Zone. Mineralizing fluids likely deposited in a pressure shadow environment related to the fold geometry. More work including deeper drilling is required to interpret the significance of what is shaping up as a doubly plunging mineralized zone, and further attests to the structural complexity of this area and its mineral potential.
Figure 2 – Woods Lake Drill Hole Location Map
Table 2 – Woods Lake Collar Details.
Drill holes WL-21-07 and WL-21-08 were exploratory scout holes testing an historical IP anomaly to the northwest of Woods Lake and did not return significant gold values. WL-21-16 also did not return significant gold values.
Separately, the Company reports that certain of its directors, officers, employees, and consultants have voluntarily forfeited an aggregate of 2,590,000 stock options with exercise prices above $0.25 per share, in order to streamline the Company’s capital structure.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All HQ core is geotechnically measured for RQD’s, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. True widths for reported intervals have yet to be determined. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to exploration plans and drill program results at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling program and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Announces 2022 Exploration Program for Golden Rose Project
Toronto, Ontario –March 22, 2022 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce details of its 2022 exploration and work program at its flagship Golden Rose Project (“Golden Rose”), which is now underway.
Toronto, Ontario –March 22, 2022 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce details of its 2022 exploration and work program at its flagship Golden Rose Project (“Golden Rose”), which is now underway.
“Our 2022 exploration season is off to a great start,” said TRU President Stephen Lautens. “The IP survey we announced last month is underway in identifying new high-priority targets for further exploration across our district-scale land package at Golden Rose. A large soil sampling program will further identify new areas for follow-up drilling. Since we acquired Golden Rose last year, TRU has rapidly identified and explored multiple gold targets to show the discovery potential of this property, developing a robust pipeline of drill targets with a view to making Golden Rose a turn-key exploration and development project. We look forward to following up discoveries with new drilling and trenching later this year.”
Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km2) in the Central Newfoundland Gold Belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake Shear Zone between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest.
Simcoe IP Survey Update
On February 9, 2022, TRU announced contracting Simcoe Geoscience Limited (“Simcoe”) for an IP survey at Golden Rose. The IP survey is deploying Simcoe’s next-generation wireless, high-definition Alpha IP™ technology. The survey will comprise approximately 56 line km of wireless time-domain induced polarization using Simcoe’s Alpha IP™ system and is expected to be complete within 60 days. The detailed data compiled from this survey will guide TRU’s 2022 trenching and drilling program and be instrumental in developing an additional inventory of highly prospective exploration targets at Golden Rose.
Figure 1: Golden Rose Project - Regional IP Survey Line Locations
Barry Greene, VP of Property Development and Director of TRU, added: “I am excited to kick off TRU’s 2022 exploration program. The goal of our program will be to identify additional drill targets for 2022 and beyond. In November 2021, we confirmed a second district-scale gold trend at Golden Rose through an extensive soil sampling program. One area of strong interest that was identified by our previous program was the Jacob’s Pond gold zone, which we will be focusing on over the coming months. Simcoe’s detailed IP survey is actively underway over this gold target. The proposed soil sampling program is planned to be an early season blitz using a large field crew,” Mr. Greene continued. “It is designed to provide early results to generate targets that can be trenched and drilled later this field season.”
Soil and Till Sampling Work
TRU will also undertake an extensive soil and till sampling program at Golden Rose. The multi-crew program is planned to collect more than 10,000 samples at individual sites across the property, designed to identify new gold mineralization and provide additional targets for TRU’s 2022 trenching and drilling programs. The work will focus on completing and infilling gaps in soils coverage over the two primary, deep seated structural corridors that have been delineated over much of the strike length running through the property.
In particular, sampling will be done over the numerous known gold bedrock showings on which minimal previous geochemical or ground geophysical coverage is available, and which are located on primary, secondary or tertiary order structures which emanate from a crustal scale shear zone. Of particular interest in the southwest are the Glimmer Pond, Mink Pond and Falls Zone gold showings, which display a combination of quartz veining and/or regional silicification on which minimal historical work has been carried out. Historical prospecting in the Glimmer Pond area did identify a quartz rich float sample with visible gold with a grab sample which assayed 213.8 grams per tonne (g/t) gold.
Figure 2: Golden Rose Project - Proposed Regional 2022 Soil and Till Survey
Drilling Update
The Company has previously reported that its 2021 drill program encountered gold mineralization in 9 out of the 9 drill holes reported to date at the Woods Lake gold zone (“Woods Lake”), including continuous near-surface gold mineralization (see press releases of March 3 and March 9, 2022). The gold zone has now been intersected in diamond drilling over 800 metres of strike length and is open at depth and along strike.
A total of 11 of the 22 drill holes from the 2021 drilling season have been reported to date. The Company is awaiting assay results for the remaining holes and will report them as assays are received.
The Company is compiling and modeling the 2021 drill program results for Woods Lake. A higher grade core has now been modeled and is showing characteristics of a doubly plunging structurally controlled gold zone. Additional drilling will be required to fully explore and delineate these trends.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Twitter: @JoelFreudman
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s exploration and drilling plans, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Hits More Continuous Gold Mineralization at Golden Rose Project
Toronto, Ontario – March 9, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce new assay results from an additional 4 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
Toronto, Ontario – March 9, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce new assay results from an additional 4 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
Highlights
10.0 metres (m) of 1.14 grams per tonne (g/t) gold starting at 52.0 metres in drill hole WL-21-04, which forms the base of a longer 56.0 metre interval grading 0.4 g/t gold starting from the bedrock surface.
7.0 metres of 1.81 g/t gold starting from 77.0 metres in hole WL-21-10, which forms the base of a longer 70 metre interval starting at 19.0 m and grading 0.37 g/t gold.
1.5 metres of 3.60 g/t gold starting from 27.5 metres in hole WL-21-01, plus an additional 22.0 metres of 0.55 g/t gold starting at 38.0 metres, including 3.0 metres of 1.96 g/t gold at the base of the intercept.
TRU has now reported on 11 holes in total with assays from 11 holes still pending. Reported drilling results now define a primary gold zone that is 800m in strike length (from holes WL-21-06 to WL-21-14) and is open both along strike and at depth.
“I am very pleased to report that our drilling has now hit gold mineralization in 9 out of 9 of the holes reported so far at Woods Lake,” commented Stephen Lautens, President of TRU. “Consistency of results is very important in building a successful story of exploration, and these near-surface results are a solid basis for further and expanded exploration. We are also looking forward to exploring a number of other highly prospective targets that have shown even greater gold values at surface.”
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”). Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, and is located directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, added: “The thick, near surface, gold zone encountered in holes WL-21-01, WL-21-04 and WL-21-10 are indicative of a bulk tonnage gold target. Gold mineralization in hole WL-21-10 actually straddles the faulted contact between the hanging wall Bay du Nord group metasediments and the underlying monzogranite. We continue to be impressed by the voluminous intersections of altered and mineralized felsic intrusive in this drill program.”
Table 1 – Woods Lake uncut assay highlights
Figure 1 – Woods Lake Drill Hole Locations
Table 2 – Woods Lake Collar Details
The gold intercept in WL-21-14 was testing a gold soil geochemical anomaly that was along strike to the northwest from the main Woods Lake gold zone. This hole intersected quartz veining with arsenopyrite and pyrite in sedimentary rocks, indicating that gold can be encountered not only in the felsic intrusive, but also in the surrounding rocks.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All HQ core is geotechnically measured for RQD’s, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. True widths for reported intervals have yet to be determined. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Twitter: @JoelFreudman
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
Cautionary Statements
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 plans and drill program results at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling program and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Continues to Intersect Gold in New Drill Results from Golden Rose Project
Toronto, Ontario – March 3, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce additional assay results from 5 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
Toronto, Ontario – March 3, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce additional assay results from 5 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
Highlights
12 metres (m) grading 1.01 grams per tonne (g/t) gold from drill hole WL-21-12
7 m grading 1.71 g/t gold from drill hole WL-21-06, including 2.39 g/t over 4m
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”). Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, and is located directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, commented: “I’m pleased that these results continue to intersect gold and define Woods Lake, expanding the gold zone both up-dip and along strike near surface. A focus of our 2021 drill program was to begin delineating a near-surface gold zone that could potentially be open pittable. This is especially important given the near-term production decision at our neighbour Marathon’s Valentine Gold Project.”
Table 1 – Woods Lake Uncut Assay Highlights
Figure 1 – Woods Lake Drill Hole Locations
Table 2 – Woods Lake and KG4 Collar Details
The new results at Woods Lake expand upon the gold rich felsic intrusive with mineralization consisting of a network of thin, quartz-pyrite-hematite-arsenopyrite veins, fractures and accompanying wall-rock sericitization and silicification.
Woods Lake is directly road accessible, with infrastructure including a high voltage powerline and paved highway located just a few kilometers to the east. The zone has been drilled and partially delineated over approximately 550m along strike. Historical drill intersections include 1.37 g/t gold over 26.31m (includes 6.18 g/t gold over 5.11m) and 2.15 g/t gold over 12.6m (including 3.65 g/t gold over 6.0m).
The Company has also received results from two exploratory drill holes at KG4 which did not return any significant gold values. These initial holes, which were the first ever drilled at KG4, were on weaker, secondary IP targets, and were not targeting the large horseshoe shaped IP anomaly where a quartz stockwork containing chalcopyrite was noted in drill core.
The Company has an additional 15 drill holes currently in for assay analysis and will report results are they are received and reviewed.
The Company is also reporting the issuance in February of 800,000 TRU shares to Altius Resources Inc. (“Altius”), pursuant to the Option Agreement between TRU and Altius for Golden Rose. The shares were issued at a deemed price of $0.25 each, and the Option Agreement remains in good standing.
Finally, TRU continues to enjoy support from Insiders as CEO Joel Freudman, and President Stephen Lautens purchased shares of TRU in February.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All HQ core is geotechnically measured for RQD’s, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Twitter: @JoelFreudman
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
Cautionary Statements
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 plans and drill program results at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling program and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; 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.