Kintavar Receives $700,000 from Recent Warrant Exercise; Adds Technical Advisor Specializing in Stratiform Copper Deposits
MONTREAL, March 25, 2019 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), today is very pleased to announce that since January 2018 the Corporation has received gross proceeds of $701,185 from the exercise of warrants prior to their expirations on December 30, 2018 and March 24, 2019. All warrants issued by the Corporation that had matured on the previously mentioned dates, have now been exercised.
"As Kintavar celebrates 2 years since listing on the TSX Venture Exchange, we are privileged to have strong support from our investors as demonstrated by the successful warrant exercise with 100% of the warrants being exercised. More than 85% of these warrants were held either by Quebec institutional investors or by our shareholders living in the Mont Laurier and the Mitchi project region which shows the local support behind the project. On behalf of the entire management and exploration team, I would like to thank our shareholders for their support and for being with us in discovering Quebec’s newest mineral exploration region.” comments Kiril Mugerman, President & CEO of Kintavar.
In preparation to the 2019 exploration season, Kintavar is pleased to announce that it has retained the services of Francis Chartrand, P. Geo, Ph.D, as technical advisor to the Corporation specializing in stratiform copper deposits. Mr. Chartrand graduated in 1979 from Concordia University (Montreal) with a B.Sc. in geology. He obtained an M.Sc.A. in 1982 and a Ph.D. in 1987 from École Polytechnique de Montréal by studying the diagenetic evolution of the sediment-hosted stratiform copper mineralization of the Redstone deposit, N.W.T. and the Kamoto mine, Democratic Republic of Congo. Mr. Chartrand also undertook post-doctoral studies of Zambian stratiform copper mineralization at University College in Cardiff, Wales in 1987.
In 1988 Mr. Chartrand was employed by the Québec government geological survey in Val-d’Or, first as head of the metallogeny section, and then as head of the Northwest Geological Service. From 1997-2018, Mr. Chartrand worked for several companies including SOQUEM (research geologist), Amex (consultant and VP exploration), Virginia Mines, (project geologist), MDN (project geologist) and most recently Osisko Mining (project geologist).
"We are very pleased to be able to add Mr. Chartrand to our team. Finding expertise in stratiform copper deposits is not an easy task due to their relatively limited occurrence globally, but to be able to find local expertise of this type of deposits with knowledge of the Grenville, the local structural geology and the metamorphism is almost impossible considering no such deposits are present elsewhere in Quebec. We are certain his knowledge and experience will make a significant contribution to our team and will add to an already exciting upcoming exploration campaign.” added Kiril Mugerman.
About Kintavar Exploration & the Mitchi Property
Kintavar Exploration is a Canadian mineral exploration Corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. Its flagship project is the Mitchi property (approx. 30,000 hectares, 100% owned) located west of the Mitchinamecus reservoir, 100 km north of the town of Mont-Laurier. The property covers an area of more than 300 km2 accessible by a network of logging and gravel roads with a hydro-electric power substation located 14 km to the east. The property is located in the north-western portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and/or manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper type mineralization (SSC) in the Eastern portion of the property and Iron Oxide Copper Gold (IOCG) and skarn type mineralization in the Western portion. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin.
For further information contact:
Kiril Mugerman, president and CEO
Phone : +1 450 641 5119 #5653
Email : kmugerman@kintavar.com
Web: www.kintavar.com
Forward looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that may constitute “forward-looking information” or “forward looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s management’s discussion and analysis for the fiscal year ended December 31, 2017, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
