Goldrea Resources Corp. (“Goldrea” or the “Company”) (CSE:GOR) (Frankfurt:GOJ)
(OTC Pink:GORAF) announces that it has finalized the acquisition of
100% of the newly named “Argos Property,” previously announced on
February 28, 2017.
The Argos Property consists
of 42 map designated claim cells in two contiguous blocks measuring
1,982 and 376 hectares, totaling 2,358 hectares. Three additional claims
totaling 170 hectares, contiguous with the larger block, are still
pending application.
The larger of the two
blocks lies approximately 19 kilometers to the south of the Osisko
Mining Corporation’s Windfall Project gold deposit, 5.5 kilometers to
the south of the Osisko Mining Corporation’s Black Dog Project, and 10
kilometers to the south of Metanor Resources’ Barry gold deposit, which
also lie in the same Urban-Barry Greenstone Belt of Quebec as Goldrea’s
Argos. The property is easily accessible, with the larger block being
crossed by a maintained road from highway QC-113 and the smaller block
being accessible by a network of logging roads.
Jim
Elbert, president of Goldrea, states, “The Windfall Lake gold sector
has several major drill programs commencing this spring. Goldrea’s
acquisition of the Argos Property has provided a key position for the
Company in this area. Combined with our Cannonball property in the
‘Golden Triangle’ of British Columbia, the Argos continues to enhance
our ability to establish a significant presence in areas of high gold
interest. The Company is presently reviewing historical documentation on
the Argos property to determine avenues of development.”
Goldrea
has paid all staking cost and will issue 700,000 common shares, subject
to a four-month hold, as consideration, to earn a 100% interest in the
Argos property.
The technical contents of this
release were approved by Case Lewis, P.Geo., a Qualified Person as
defined by National Instrument 43-101. The property has not yet been the
subject of a National Instrument 43-101 report.
Forward-Looking Statements
The
CSE has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. This news release may contain
“forward-looking statements”, which are statements about the future
based on current expectations or beliefs. For this purpose, statements
of historical fact may be deemed to be forward-looking statements.
Forward-looking statements by their nature involve risks and
uncertainties, and there can be no assurance that such statements will
prove to be accurate or true. Investors should not place undue reliance
on forward-looking statements. The Company does not undertake any
obligation to update forward-looking statements except as required by
law.
For further information, please contact: James Elbert , President and CEO (604) 559-7230 [email protected] www.goldrea.com
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