Angus Ventures Completes the Acquisition of the Wawa Project, Ontario
March 4, 2020 – ANGUS VENTURES INC. (TSX-V: GUS) (“Angus” or the “Company”) is pleased to announce that it has closed the previously announced (see December 27, 2019 news release) acquisition of Talisker Gold Corp. (“Talisker”) 100% interest in 141 mining claims in Wawa, Ontario, in consideration for one-time cash payment of $577,499 and issuing 4,000,000 common shares of the Company (the “Transaction”). The consolidated 100-square-kilometre property package in Wawa brings significant exploration upside for expansion of existing mineralization and new discoveries.
As part of the Transaction, the Company has also issued an additional 400,000 common shares to holders of an underlying net smelter return royalty interests.
The Company has previously (see February 5, 2020 news release) completed the acquisition of Talisker’s interest in earn-in option agreements with IAMGOLD Corporation and Exiro Minerals Corporation (the “Exiro Option Agreement”) and exercised the option under the Exiro Option Agreement.
The acquired properties (the “Golden Sky Project”) are located within the prolific Mishibishu Lake Greenstone Belt of Northern Ontario, an extension of the prolific Abitibi Greenstone Belt and host to the high-grade Eagle River Mine of Wesdome Gold Mines Ltd (“Wesdome”). The Golden Sky Project is located approximately 50 kilometres west of the town of Wawa and is situated immediately between the Eagle River underground mine and the Mishi open pit mine of Wesdome. The property is host to the near-surface Dorset Gold Zone, which contains an historic estimated resource (using a 0.50 g Au/t cut-off) consisting of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.4 g/t Au), and an inferred resource of 180,000 ounces of gold (4,760,000 tonnes grading 1.2 g/t Au).
Financial Advisors Medalist Capital Ltd. acted as financial advisor to the Company in connection with the Transaction and received an advisory fee through the issuance of 400,000 common shares of the Company.
Qualified Person The scientific and technical content of this press release has been reviewed, prepared and approved by Breanne Beh, P.Geo, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
Early Warning Reports Following the completion of the Transaction, Talisker, which previously held no securities of the Company, now holds 4,000,000 common shares of the Company (“Shares”), or approximately 16.67% of the issued and outstanding Shares. The Shares were acquired by Talisker for investment purposes, and depending on market and other conditions, Talisker may from time to time in the future increase or decrease its ownership, control or direction over securities of the Company through market transactions, private agreements, or otherwise. For the purposes of this notice, the address of Talisker is 350 Bay Street, Suite 700, Toronto, Ontario M5H 2S6.
In satisfaction of the requirements of the National Instrument 62-104 – Take-Over Bids And Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an Early Warning report in connection with the issuance of Shares to Talisker pursuant to the Transaction will be filed under the Company’s SEDAR Profile at www.sedar.com.
About Angus Ventures:
Angus Ventures Inc. is a Canadian gold exploration company focused on the acquisition, exploration and development of mineral properties.
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President and Chief Executive Officer
Angus Ventures Inc.
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 includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to receive requisite approvals in respect of the Transaction, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.