SRC Pays Coffee Claims 4 Years Forward
Toronto, Ontario--(Newsfile Corp. - November 2, 2022) - Stakeholder Gold Corporation (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce that the Company has paid forward, for a period of 4 years, claim renewal fees on 10 of the Company's mineral claims that are held within the Coffee Gold Project.
Stakeholder holds a total of 356 claims, covering 7,441.5 hectares, in the heart of the White Gold District of the Yukon Territory, Canada. Most of the Stakeholder claims are contiguously held on the Company's 100% owned Ballarat Gold Project which is located north of the Yukon River, due north of the Coffee Gold Project and upstream of the prolific Ballarat Creek placer gold range. 10 Stakeholder claims, covering 209.031 hectares, are located south of the Yukon River within the boundaries of the Coffee Gold Project which is being developed by Newmont Corporation.
On May 17th, 2022, Newmont Corporation announced that pursuant to a recommendation from the Yukon Environmental and Socio-economic Assessment Board (YESAB), and after consultation with Yukon First Nations, the Coffee Gold Project had received approval to proceed from both the Canadian Federal Government and the Government of the Yukon Territory. At that time, Yukon Premier Sandy Silver also confirmed that the Coffee Gold Project would provide significant employment opportunities for Yukoners and would contribute to the territory's growing economy.
The 10 Stakeholder claims that are held within the Coffee Gold Project boundaries are situated east of the proposed open pit mine development site. The claims were staked by the Company's founding prospector during the period of rapid staking which transpired in the Yukon Territory's White Gold District at the end of the first decade of the 21st Century. The 10 claims are retained through 2 grant number sequences: YD 19586-19589 (4 claims) and YD 19600-19605 (6 claims), and the positions were staked to cover two known gold occurrences identified in the area.
"We will resume exploration activity on the company's highly prospective Ballarat gold claim group next year, with cash flow generated from our profitable quartzite mining operations in Brazil. This will allow us to pursue the opportunity for a significantly value accretive discovery in the White Gold District without incurring further shareholder dilution," stated Chris Berlet, President & CEO of Stakeholder.
About Stakeholder
Stakeholder Gold Corp. is a junior resource company developing cash flow from the production and sale of exotic Blue Quartzite at its wholly owned Blue Quartzite quarry in Minas Gerais, Brazil.
Stakeholder Gold Corp. also has 100% ownership of the Ballarat Gold Project which holds 7,442 hectares of claims located in the heart of the White Gold District of the Yukon Territory, Canada. The Company's Ballarat Gold Project claim group includes an area extending over 10 km of the road construction route for the Northern Gateway Road which is being built to service the White Gold District. The Company's claim holdings also include title to 10 claims located within the nearby Coffee Gold Project which is being developed by Newmont Corp. south of the Yukon River.
For further information please contact:
Stakeholder Gold Corporation
Telephone: (416) 525 - 6869
cberlet@stakeholdergold.com
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events, or developments that the Corporation believes, expects, or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward- looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142686