Miramont Announces First Phase of Exploration Program
VANCOUVER, British Columbia, April04, 2017(GLOBE NEWSWIRE) -- Miramont Resources Corp. (the "Company" or "Miramont") (CSE:MONT) is pleased to announce the planning of the first phase of its exploration program on the Midas Gold Property (the "Property") in Northwestern Ontario.
The exploration program will be comprised of prospecting, geological mapping and sampling.
The prospecting will focus on expanding the known gold showings and evaluating potential gold bearing structures.Geological mapping and sampling of the cut grid and the previously stripped areas will be completed to assist in determining structural and lithological relationships of the known gold showings. The pulp samples from the 2013 diamond drill program will provide a sampling base to create a geochemical database.This geochemical database will be integrated into the results of the prospecting, sampling and geological mapping to direct the selection of future targets.
The Property consists of 10 staked claims (118 units) covering 1,600 hectares and is situated approximately 50 kilometres northeast of the town of Wawa in northern Ontario. The Property is road accessible and lies 20 kilometres southeast of Richmont Mines' Island Gold Mine complex and Argonaut Gold's Magino Gold Project.
Sporadic exploration has been carried out in the Property area, beginning in the 1940's, with most work completed from the late 1970's to 1990 and 2011 to 2013.Past exploration has included surface sampling, trenching, airborne and ground geophysics and diamond drilling.
Mr. Garry Clark, P. Geo. of Clark Exploration Consulting, a "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information in this press release as it pertains to the Property.
About Miramont
Miramont is engaged in the acquisition, exploration and development of mineral properties. Its current focus is to conduct the proposed exploration program on the Midas Gold Property in Canada, along with continuing to identify and potentially acquire additional property interests, assess their potential and engage in exploration activities.
Reader Advisory
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the Property, comments regarding the timing and content of upcoming work programs, geological interpretations, costs and timing of future exploration and development, requirements for additional capital, other statements relating to the financial and business prospects of the Company. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, other metals and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;(vi) that environmental laws and regulations may become more onerous;(vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xviii) risks related to current global financial conditions; and (xix) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly. There can be no assurance that planned exploration will be completed as proposed or at all, or that economic resources will be discovered or developed at the Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
For further information, please contact: Miramont Resources Corp. Tyson King, President E:tking@miramontresources.com