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PRESS RELEASE: ML Gold Acquires Land near New Nadina's Silver Queen Property, Company Arranges 1.0 Million Financing, Announces Winter Drilling Program

22 Nov 2017 5:01 am

Dow Jones received a payment from EQS/DGAP to publish this press release.
 
 
 DGAP-News: ML Gold Corp. / Key word(s): Miscellaneous 
ML Gold Acquires Land near New Nadina's Silver Queen Property, Company 
Arranges 1.0 Million Financing, Announces Winter Drilling Program 
 
2017-11-22 / 06:01 
The issuer is solely responsible for the content of this announcement. 
 
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2017) - *ML Gold 
Corp. (TSXV: MLG) ('ML Gold' or the 'Company') *is pleased to announce it 
has signed two separate option agreements for options to acquire up to an 
80% interest in a total of 2,136 Hectares of prospective mining claims in 
the Omineca Mining Division located in north central British Columbia, 
approximately 40 kilometres south - southwest of Houston (collectively, the 
'Stars Property'). 
 
Andy Bowering, Chairman of ML Gold comments 'This was a unique opportunity 
to acquire a strong land position with significant copper - gold - silver 
mineralization on surface, which has never been tested to depth, in this 
emerging area play. We are pleased to have a place in the recent resurgence 
of this significant mining camp.' 
 
ML Gold's Stars Property is 30 kilometres to the northwest of the New 
Nadina's Silver Queen Property. The mineralization on New Nadina's property 
has a northwest - southeast trend and falls within a string of deposits and 
past producing mines including Goldcorp's Equity Silver Mine which produced 
over 77 Million Ounces Silver, 500,000 Ounces Gold, and over 80,000kg of 
Copper. At the northwest end of this trend, ML Gold's Stars Property is host 
to wide spread chargeability anomalies and significant copper-gold-silver 
mineralization outcropping at surface. The Stars Property is underlain by 
Lower Jurassic volcanics, and Lower Cretaceous Skeena Group sediments that 
are intruded by variably mineralized Late Cretaceous intermediate to felsic 
Bulkley Suite intrusive rocks. 
 
The Stars Property is fully permitted for drilling on two main zones that 
were first discovered in the late 1990's when new logging roads were being 
constructed in the area. Since then mineralization has been confirmed in 
shallow drilling, and consists predominately of quartz sulphide veins 
containing chalcocite, bornite, chalcopyrite, and pyrite in intensely 
altered host volcanic rocks. The outcropping mineralization, especially at 
the Road Zone, is interpreted to be high level porphyry style mineralization 
evident from euhedral chalcocite crystals with intense muscovite replacement 
in the wall rock. It is possible that this zone is immediately above or 
proximal to an enriched copper porphyry zone and that the two adjacent zones 
identified on surface on the property join at depth in a higher grade zone. 
Rock samples from the Road Zone assayed up to 3.3% Copper, 0.2 g/t Gold, and 
12.2 g/t Silver. The chargeability anomalies were identified on the property 
by a Hunter Dickinson Group company in 2000 and are at least 3 kilometres x 
3 kilometres across and open to the north, south, and east. 
 
The first agreement (the 'First Stars Agreement') is with Pacific Empire 
Minerals Corp., an arm's length party which currently owns 50% of the Stars 
Property. Under the terms of the First Stars Agreement, the Company has the 
option to earn up to a 30% interest in the Stars Property by completing the 
following: 
 
? Making cash payments of CDN$10,000, and issuing 100,000 common shares 
upon TSX Venture Exchange ('TSXV') approval, and completing CDN$500,000 in 
expenditures on the property within the first year. 
 
? Making cash payments of CDN$20,000, issuing 200,000 common shares on or 
before the first anniversary of TSXV approval, and completing 
CDN$1,000,000 in expenditures on the property within the second year. 
 
? Making cash payments of CDN$50,000, and issuing 300,000 common shares on 
or before the second anniversary of TSXV approval, and completing 
CDN$3,000,000 in expenditures on the property within the third year. 
 
The second agreement (the 'Second Agreement') is with Divitiae Resources 
Ltd. a non-arms-length party owned by Adrian Smith, P.Geo, a director of the 
Company, which currently owns 50% of the Stars Property. Under the terms of 
the Second Agreement, the Company has the option to earn up to an additional 
50% interest in the Stars Property by completing the following: 
 
? Making cash payments of CDN$10,000, and issuing 200,000 common shares 
upon TSXV approval. 
 
? Making cash payments of CDN$20,000, issuing 400,000 common shares on or 
before the first anniversary of TSXV approval. 
 
? Making cash payments of CDN$50,000, and issuing 300,000 common shares on 
or before the second anniversary of TSXV approval. 
 
? Making cash payments of CDN$50,000, and issuing 1,000,000 common shares 
on or before the third anniversary of TSXV approval. 
 
ML Gold can earn a total of 80% interest in the Stars Property by fully 
exercising the options in the First Agreement and the Second Agreement as 
outlined above. 
 
The First Agreement and the Second Agreement are subject to their approval 
by the TSX Venture Exchange. 
 
*ML Gold Arranges Financing for $1.0 Million* 
 
ML Gold is pleased to announce a non-brokered private placement to raise 
total gross proceeds of CDN$1,000,000. 
 
The Company will issue 3,500,000 non flow-through units at $0.10 per unit 
(for gross proceeds CDN$350,000) and 5,000,000 flow-through units at $0.13 
per unit (for gross proceeds of CDN$650,000). 
 
Each non flow-through unit at $0.10 comprises one common share in the 
capital of the Company and one full non-transferable share purchase warrant. 
Each warrant is exercisable into one common share at a price of $0.15 for a 
period of two years. 
 
Each flow-through unit at $0.13 comprises one flow-through common share and 
one half of one non-transferable share purchase warrant. Each full warrant 
is exercisable into one common share of the Company at a price of $0.18 for 
a period of two years. 
 
All units in the private placement are subject to a 4-month hold period from 
the date of issuance. 
 
The financing will include finder's fee commissions and is subject to TSX 
Venture approval. 
 
The proceeds from the flow-through financing will be used to advance the 
Company's Stars Property. Proceeds from the non-flow-through financing are 
intended for the Company's Stars Property as well as general working capital 
purposes. 
 
*Management Changes* 
 
The Company is pleased to report the appointment of Kosta Tsoutsis as an 
independent non-executive director. Mr. Tsoutsis brings over 20 years of 
finance and capital market experience. Mr. Tsoutsis formerly worked as an 
investment advisor at Mackie Research, Jordan Capital Markets, and Canaccord 
Capital Corp. 
 
Mr. Tsoutsis has significant experience specializing in developing, 
restructuring and financing venture capital companies. Mr. Tsoutsis has 
directly raised over CDN$30 million in development and venture capital for 
public and private companies worldwide. 
 
*Qualified Person* 
 
Adrian Smith, P.Geo., is the qualified person for the Company as that term 
is defined in National Instrument 43-101, and has supervised the technical 
information presented within this news release. 
 
*ABOUT ML GOLD CORP.* 
 
ML Gold Corp. is a Canadian company listed on the TSX Venture Exchange, 
focused on creating shareholder value through discoveries and strategic 
development of mineral properties in Canada and the United States. 
 
For additional information please visit the Company's website at 
www.mlgoldcorp.com [1]. You may also email info@mlgoldcorp.com or call 
investor relations at (604) 669-2279. 
 
*ML GOLD CORP.* 
 
_'Andrew Bowering'_ 
 
Andrew Bowering 
Chairman 
 
_NEITHER THE 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 may contain certain 'Forward-Looking Statements' within 
the meaning of the United States Private Securities Litigation Reform Act of 
1995 and applicable Canadian securities laws. When or if used in this news 
release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target, 
'plan', 'forecast', 'may', 'schedule' and similar words or expressions 
identify forward-looking statements or information. _These forward-looking 
statements or information may relate to future prices of commodities, 
accuracy of mineral or resource exploration activity, reserves or resources, 
regulatory or government requirements or approvals, the reliability of third 
party information, continued access to mineral properties or infrastructure, 
currency risks including the exchange rate of US$ for CDN$, changes in 
exploration costs and government royalties or taxes in Canada, the United 
States or other jurisdictions and other factors or information. Such 
statements represent the Company's current views with respect to future 
events and are necessarily based upon a number of assumptions and estimates 
that, while considered reasonable by the Company, are inherently subject to 
significant business, economic, competitive, political and social risks, 
contingencies and uncertainties. Many factors, both known and unknown, could 
cause results, performance or achievements to be materially different from 
the results, performance or achievements that are or may be expressed or 
implied by such forward-looking statements. The Company does not intend, and 
does not assume any obligation, to update these forward-looking statements 
or information to reflect changes in assumptions or changes in circumstances 
or any other events affections such statements and information other than as 
required by applicable laws, rules and regulations. 
 
[2] 
 
*Figure 1*: Stars Property Location Map 
 
To view an enhanced version of Figure 1, please visit: 
http://orders.newsfilecorp.com/files/5509/30689_a1511316813666_0.jpg [2] 
 
[3] 
 
*Figure 2*: Bornite-Chalcocite (Bo-Cc) mineralization with malachite 

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November 22, 2017 00:01 ET (05:01 GMT)
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