| Previous Close | 0.1550 |
| Open | 0.1550 |
| Bid | 0.1550 x 0 |
| Ask | 0.1650 x 0 |
| Day's Range | 0.1550 - 0.1600 |
| 52 Week Range | 0.1350 - 0.3050 |
| Volume | 43,750 |
| Avg. Volume | 90,698 |
| Market Cap | 21.212M |
| Beta (5Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.0040 |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 0.65 |
- GlobeNewswire
Group 11 Technologies Signs Option Agreement with GFG to Advance the Rattlesnake Hills Gold Project with Revolutionary Technology
DALLAS, April 14, 2021 (GLOBE NEWSWIRE) -- Group 11 Technologies Inc. (“Group 11”) is pleased to announce it has signed an option and earn-in agreement (the “Agreement”) with GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG”) to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) as summarized below and making staged cash and equity payments to GFG. Group 11 Technologies Inc. is led by a group of technical pioneers and experts in the development and application of in-situ recovery (“ISR”) with significant experience operating in Wyoming. Group 11’s goal is to combine ISR, a non-invasive extraction technology, with an environmentally friendly water-based chemistry to recover gold and other metals, providing an alternative development path to conventional open pit and underground mineral extraction. The Rattlesnake Hills Gold Project is viewed as an ideal test project for Group 11 for the following reasons: Wyoming is a top United States mining jurisdiction with regulators who understand and effectively legislate ISR better than anywhere else in the US;Gold grades throughout the system vary from low to high allowing for testing various grades response to the ISR process;Gold occurs in a variety of geological settings, allowing for testing of various styles of mineralization;Gold occurs across a large physical area allowing for testing under various lithostatic conditions across and through several rock types and chemistries;Gold occurs under relatively accessible topography, an important consideration for wellfield development. Live Webcast – April 15, 2021Management of GFG and Group 11 will host a webcast on Thursday, April 15 at 10:00 am Eastern Standard Time (7:00 am Pacific Standard Time) to discuss the Agreement, Group 11’s innovative technology, the upcoming programs and to answer any questions from shareholders. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.Link: https://6ix.com/event/gfg-and-group11/ After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. A replay of the webcast will be available following the conclusion of the call. “Group 11 is very excited to establish its first anchor project with GFG and the Rattlesnake Hills Gold Project. Rattlesnake hosts all the necessary parameters, in a well-established jurisdiction, to test and apply the combination of ISR technology and our exclusive use of EnviroLeach’s non-cyanide water based chemistry for ISR applications,” said Janet Lee-Sheriff, President of Group 11. “We already have successfully tested the EnviroLeach non-cyanide chemistry on sulfide concentrates and achieved optimal results in shorter timelines than cyanide. The recyclability of the environmentally-friendly chemistry makes it an attractive ingredient in ISR technology and an alternative to cyanide for gold recovery. Group 11 will commence first stage lab test work on drill core in the summer of 2021 and we look forward to advancing our work to develop new solutions for the mineral extraction industry.” “We are excited to have entered into a partnership with Group 11 to advance our Rattlesnake Hills Gold Project and be part of a technology that could revolutionize the gold mining industry,” stated Brian Skanderbeg, President and CEO of GFG. “Our Project is the ideal asset to test and optimize Group 11’s technology given the character of the mineralized systems, significant zones of gold mineralization and the established permitting path for ISR mining in Wyoming. This is an exciting development for our shareholders and stakeholders as we work with our partners to develop and apply ISR technology to gold systems. Over the last several decades, this technology has been successfully applied in both uranium and copper mining, driving significantly reduced development timeframes, lower capital intensity and materially reduced environmental impacts. We believe in its potential to be equally applicable to the gold space.” Terms of the AgreementUnder the terms of the Agreement, Group 11 has a right to earn 70% interest in the Project over a six-year period by: Incurring a minimum of US$9.5 million in Expenditures.Paying 100% of holding and maintenance costs related to the Project.Covering all Expenditures to advance the Project into commercial production.Making staged equity payments to GFG of Group 11 common stock of up to 9.9% of Group 11’s common shares issued and outstanding on a fully-diluted basis.Making a cash payment of US$7.5 million. Summary of Agreement Stages MilestoneCompensation DeliverableEquityExecution of AgreementUS$50,000 non-refundable cash payment to GFG Closing of AgreementPro-rata payment of 2020 claim holding and maintenance costs 0%Stage 1 Option Phase (12 months)100% of claim holding and maintenance costsMinimum Expenditure of US$500,000(1)0%Column tests on historic corePQ drilling and further column tests (if required)Stage 2: Option Phase (18 months)100% of claim holding and maintenance costsMinimum Expenditure of US$1.0 million(1)0%1.5% common stock of Group 11Conduct 5-spot well testingStage 3: Earn-In Phase (2 years)100% of claim holding and maintenance costsMinimum Expenditure of US$8.0 million(1)51%3.5% common stock of Group 11 (capped at US$4.0 million)100% of development costs and achievement of commercial production(2)Stage 4: JV Interest Option(within 12 months of commercial production) US$7.5 million cash payment to GFG 70%4.9% common stock of Group 11 (capped at US$6.0 million) (1) Minimum expenditures exclude holding and maintenance costs. (2) Commercial production is deemed as a rate of not less than 50% of the feasibility study-rated annual capacity. Additional terms: Closing of the Agreement is conditional upon Group 11 raising a minimum of US$1.5 million within 45 days after the execution of the Agreement.The Agreement contains pre-emptive rights provisions should either party elect to sell its interest in the Project.Group 11 has the option to extend any stage for 12 additional months by making a US$500,000 cash payment to GFG.Group 11 will act as manager on the Project. The Rattlesnake Hills Gold ProjectThe Rattlesnake Hills Gold Project is a district-scale gold exploration project located in central Wyoming approximately 100 kilometres southwest of Casper. Geologically, the Project is centrally located within a roughly 1,500-kilometre-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits. The Project has approximately 100,000 metres (“m”) of historic drilling which has outlined three significant zones of alteration and precious metal mineralization that are associated with Eocene age alkalic intrusions at North Stock, Antelope Basin and Blackjack. The majority of the drilling has focused on near-surface, open pit mineralization in the North Stock and Antelope Basin deposits with highlights that include intercepts(3) of 1.85 grams of gold per tonne (g/t Au) over 236.2 m hole length; 4.20 g/t Au over 77.7 m hole length; 2.08 g/t Au over 150.9 m hole length and 0.82 g/t Au over 99.1 m hole length. In addition to the outlined zones of mineralization, the Company believes that the district is highly prospective and has outlined several kilometre-scale greenfield targets that have never been drill tested. These greenfield targets were generated from the Company’s geophysical and geochemical programs and host strong similarities to the North Stock and Antelope Basin systems. (3) Gold intervals reported are based on a 0.20 g/t or 0.50 g/t Au cutoff. Weighted averaging has been used to calculate all reported intervals. True widths are estimated at 60-100% of drilled thicknesses. Qualified Persons Brian Skanderbeg, P.Geo. and M.Sc., serves as President and CEO of GFG, and is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Skanderbeg has reviewed the respective core intervals, sampling and QA/QC procedures and results thereof as verification of the historical drilling data disclosed above and has approved the information contained in this news release. About GFG Resources Inc. GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company owns 100% of the Pen and Dore gold projects, two large and highly prospective gold properties west of the prolific gold district of Timmins, Ontario, Canada. The Pen and the Dore gold projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold. About Group 11 Technologies Inc. Group 11 is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction. The combination of in-situ recovery extraction (ISR) technology and environmentally friendly water based chemistry to recover gold and other metals provides a promising alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 was founded by Enviroleach Technologies Inc. (CSE: ETI; OTCQB: EVLLF), Encore Energy Corp. (TSXV: EU; OTCQB: ENCUF) and Golden Predator Mining Corp. (TSXV: GPY; OTCQB: NTGSF). Group 11 is a group of elements in the periodic table, also known as the coinage metals, consisting of gold (Au), silver (Ag) and copper (Cu). For additional information: Group 11 Technologies Inc. Janet Sheriff, President214-304-9552info@gr11tech.com www.gr11tech.com GFG Resources Inc.Brian Skanderbeg, President & CEOor Marc Lepage, Vice President, Business Development Phone: (306) 931-0930 info@gfgresources.comwww.gfgresources.com Cautionary Note Regarding Forward-Looking Statements This news release includes certain forward-looking statements within the meaning of applicable securities laws including transactions and other properties, and the potential advancement thereof. Forward- looking statements are statements that relate to future, not past, events. In this context, forward- looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Estimates of mineral resources and reserves are also forward looking statements because they constitute projections regarding the amount of minerals that may be encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
- GlobeNewswire
GFG Signs Option Agreement with Group 11 Technologies to Advance the Rattlesnake Hills Gold Project with Disruptive Technology
SASKATOON, Saskatchewan, April 14, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce that it has signed an option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) summarized below and making staged cash and equity payments to GFG. Group 11 is led by a group of technical pioneers and experts in the development and application of in-situ recovery (“ISR”) with significant experience operating in Wyoming. Group 11’s goal is to combine, a non-invasive extraction technology with an environmentally friendly water-based chemistry to recover gold and other metals, providing an alternative development path to conventional open pit and underground mineral extraction. To learn more about Group 11, please visit their website at www.gr11tech.com. “We are excited to have entered into a partnership with Group 11 to advance our Rattlesnake Hills Gold Project and be part of a technology that could revolutionize the gold mining industry,” stated Brian Skanderbeg, President and CEO of GFG. “Our Project is the ideal asset to test and optimize Group 11’s technology given the character of the systems, significant zones of gold mineralization and the established permitting path for ISR mining in Wyoming. This is an exciting development for our shareholders and stakeholders as we work with our partners to develop and apply ISR technology to gold systems. Over the last several decades, this technology has been successfully applied in both uranium and copper mining, driving significantly reduced development timeframes, lower capital intensity and materially reduced environmental impacts. We believe it to be equally applicable to the gold space.” “Group 11 is very excited to establish its first anchor project with GFG and the Rattlesnake Hills Gold Project. Rattlesnake hosts all the necessary parameters, in a well-established jurisdiction, to test and apply the combination of ISR technology and our exclusive use of EnviroLeach’s non-cyanide water-based chemistry for ISR applications,” said Janet Lee-Sheriff, President of Group 11. “We already have successfully tested the EnviroLeach non-cyanide chemistry on sulfide concentrates and achieved optimal results in shorter timelines than cyanide. The recyclability of the environmentally-friendly chemistry makes it an attractive ingredient in ISR technology and a promising alternative to cyanide for gold recovery. Group 11 will commence first stage lab test work on drill core in the summer of 2021 and we look forward to advancing our work to develop potential new solutions for the mineral extraction industry.” Terms of the Agreement Under the terms of the Agreement, Group 11 has a right to earn 70% interest in the Project over a period of up to seven and a half years by: Spending a minimum of US$9.5 million in Expenditures.Paying 100% of holding and maintenance costs related to the Project.Covering all Expenditures to advance the Project into commercial production.Making staged equity payments to GFG of Group 11 common stock of up to 9.9% of Group 11’s common shares issued and outstanding on a fully-diluted basis.Making a cash payment of US$7.5 million. Summary of Agreement Stages MilestoneCompensation DeliverableEquityExecution of AgreementUS$50,000 non-refundable cash payment to GFG Closing of AgreementPro-rata payment of 2020-2021 assessment year claim holding and maintenance costs 0%Stage 1 Option Phase(12 months)100% of claim holding and maintenance costsMinimum Expenditure of US$500,000(1)0%Column tests on historic corePQ drilling and further column tests (if required)Stage 2: Option Phase(18 months)100% of claim holding and maintenance costsMinimum Expenditure of US$1.0 million(1)0%1.5% common stock of Group 11Conduct 5-spot well testingStage 3: Earn-In Phase(2 years)100% of claim holding and maintenance costsMinimum Expenditure of US$8.0 million(1)51%3.5% common stock of Group 11 (capped at US$4.0 million)100% of development costs and achievement of commercial production(2)Stage 4: JV Interest Option(within 12 months of commercial production)US$7.5 million cash payment to GFG 70%4.9% common stock of Group 11 (capped at US$6.0 million) (1) Minimum expenditures exclude holding and maintenance costs. (2) Commercial production is deemed as a rate of not less than 50% of the feasibility study-rated annual capacity. Additional terms: Closing of the Agreement is conditional upon Group 11 raising a minimum of US$1.5 million within 45 days after the execution of the Agreement.The Agreement contains pre-emptive rights provisions should either party elect to sell its interest in the Project.Group 11 has the option to extend any stage for 12 additional months by making a US$500,000 cash payment to GFG.Group 11 will act as manager of the Project. Live Webcast – April 15, 2021 Management of GFG and Group 11 will host a webcast on Thursday, April 15 at 10:00 am Eastern Standard Time (7:00 am Pacific Standard Time) to discuss the Agreement, Group 11’s innovative technology, the upcoming programs and to answer any questions from shareholders. Shareholders, analysts, investors and media are invited to join the live webcast by registering using the link below. Link: https://6ix.com/event/gfg-and-group11/ After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. A replay of the webcast will be available following the conclusion of the call. About The Rattlesnake Hills Gold ProjectThe Rattlesnake Hills Gold Project is a district-scale gold exploration project located in central Wyoming, approximately 100 kilometres southwest of Casper. Geologically, the Project is centrally located within a roughly 1,500-kilometre-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits. The Project has approximately 100,000 metres (“m”) of historic drilling which has outlined three significant zones of alteration and precious metal mineralization that are associated with Eocene age alkalic intrusions at North Stock, Antelope Basin and Blackjack. The majority of the drilling has focused on near-surface, open pit mineralization in the North Stock and Antelope Basin deposits with highlights that include intercepts(3) of 1.85 grams of gold per tonne (g/t Au) over 236.2 m hole length; 4.20 g/t Au over 77.7 m hole length; 2.08 g/t Au over 150.9 m hole length and 0.82 g/t Au over 99.1 m hole length. In addition to the outlined zones of mineralization, the Company believes that the district is highly prospective and has outlined several kilometre-scale greenfield targets that have never been drill tested. These greenfield targets were generated from the Company’s geophysical and geochemical programs and host strong similarities to the North Stock and Antelope Basin systems. (3) Gold intervals reported are based on a 0.20 g/t or 0.50 g/t Au cutoff. Weighted averaging has been used to calculate all reported intervals. True widths are estimated at 60-100% of drilled thicknesses. About Group 11 Technologies Inc. Group 11 is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction. The combination of in-situ recovery extraction (“ISR”) technology and environmentally friendly water-based chemistry to recover gold and other metals provides a promising alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 was founded by EnviroLeach Technologies Inc. (CSE: ETI; OTCQB: EVLLF), Encore Energy Corp. (TSXV: EU; OTCQB: ENCUF) and Golden Predator Mining Corp. (TSXV: GPY; OTCQB: NTGSF). About GFG Resources Inc. GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company owns 100% of the Pen and Dore gold projects, two large and highly prospective gold properties west of the prolific gold district of Timmins, Ontario, Canada. The Pen and Dore gold projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, United States. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold. For further information, please contact: GFG Resources Inc. Brian Skanderbeg, President & CEOor Marc Lepage, Vice President, Business Development Phone: (306) 931-0930 Email: info@gfgresources.comWebsite: www.gfgresources.com Group 11 Technologies Inc. Janet Sheriff, PresidentPhone: (214) 304-9552Email: info@gr11tech.com Website: www.gr11tech.com Stay Connected with UsTwitter: https://twitter.com/gfgresourcesLinkedIn: https://www.linkedin.com/company/gfgresources/Facebook: https://www.facebook.com/GFGResourcesInc/ 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. Qualified Persons Brian Skanderbeg, P.Geo. and M.Sc., serves as President and CEO of GFG, and is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Skanderbeg has reviewed the respective core intervals, sampling and QA/QC procedures and results thereof as verification of the historical drilling data disclosed above and has approved the information contained in this news release. Quality Analysis and Quality ControlThe quality analysis and quality control measures utilized by Evolving Gold Corp. in respect of the historical drilling data disclosed above included the following: drill hole intervals were weighted averages with each assay interval weighted according to the core length. Rigorous quality assurance and quality control procedures were implemented including routine insertion of internal standard reference materials, certified reference materials, blank material and duplicate samples from both crush and pulp material. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30-gram charge, fire assay, with an ICP finish. SGS Canada laboratory in Toronto is ISO accredited. CAUTION REGARDING FORWARD-LOOKING INFORMATIONAll statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but are not limited to, disclosure regarding possible events, the Agreement and proposed activities thereunder (the “Transaction”), exploration plans for the Project and expected results, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; planned use of proceeds, expenditures and budgets and the execution thereof. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; the continuity of the price of gold and other metals, economic and political conditions and operations; that all conditions precedent to the Transaction, including requisite regulatory approval will be fulfilled in a timely manner and on acceptable terms; and that general business and economic conditions will not change in a materially adverse manner. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks and uncertainties related to the Transaction not being completed in the event that any of the conditions precedent thereto are not satisfied; actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive. Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements in this news release are made as of the date hereof and GFG assume no obligation to update any forward-looking statements, except as required by applicable laws.
- GlobeNewswire
GFG Strengthens Board of Directors and Adds Strategic Technical Advisor
SASKATOON, Saskatchewan, April 06, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce that Lisa Riley has been appointed as an independent member to the Board of Directors (the “Board”). In addition, the Company is pleased to welcome Carl Edmunds as a strategic technical advisor. “On behalf of GFG, I am pleased to welcome Lisa and Carl to the team. The combination of these two individuals will strengthen our strategic planning and technical depth as we strive to be a North American gold exploration leader,” stated Patrick Downey, Chair of the Board. “Lisa brings significant experience in global capital markets, stakeholder relations and finance. Carl’s significant technical expertise and vast experience across the Abitibi will undoubtedly provide value in our quest to make the next gold discovery.” Board Addition – Lisa RileyLisa has nearly 30 years of experience in global capital markets, finance, mining advisory and government relations. Currently, Lisa serves as an independent consultant to mining companies in addition to her work developing investment products for launch in Argentina. Prior to consulting, Lisa held senior roles in equity research and institutional sales with Santander Investment, Lehman Brothers, RBC Capital Markets, and TD Securities. Lisa has served as a director to several mining companies and is currently on the board of Star Diamond Corp. Lisa holds a Bachelor of Arts (Honours) from the University of Toronto and is fluent in English, French and Spanish. Strategic Technical Advisor Addition – Carl Edmunds Carl has over 30 years’ experience in the global mining industry and was most recently the Chief Geologist and Vice President of Exploration at SSR Mining for over 8 years, prior to its US$5.0 billion merger with Alacer Gold in September 2020. Prior to SSR Mining, he was Chief Geologist at AuRico Gold and its predecessor, Northgate Minerals, and held senior roles with Homestake Mining earlier in his career. Carl has significant experience in the Timmins Gold District and throughout the Abitibi region of Ontario. Carl holds a Master of Science in Mineral Exploration from Queen’s University and a Bachelor of Science (Geology) from the University of Edinburgh. In conjunction with the appointment of Lisa Riley, the Company has granted a total 230,215 options to purchase common shares of the Company. These stock options, which are subject to certain vesting requirements, are exercisable for a period of five years at a price of $0.14 per common share. The incentive stock options were granted in accordance with the Company’s Stock Option Plan. About GFG Resources Inc. GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company owns 100% of the Pen and Dore gold projects, two large and highly prospective gold properties west of the prolific gold district of Timmins, Ontario, Canada. The Pen and the Dore gold projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold. For further information, please contact: Brian Skanderbeg, President & CEOPhone: (306) 931-0930 or Marc Lepage, Vice President, Business Development Phone: (306) 931-0930 Email: info@gfgresources.comWebsite: www.gfgresources.com Stay Connected with UsTwitter: https://twitter.com/gfgresourcesLinkedIn: https://www.linkedin.com/company/gfgresources/Facebook: https://www.facebook.com/GFGResourcesInc/ CAUTION REGARDING FORWARD-LOOKING INFORMATION All statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but are not limited to, the future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada and the United States will continue to support the development of mining projects in Canada and the United States. In addition, the similarity or proximity of other gold deposits to the Rattlesnake Hill Gold Project, the Pen Gold Project and the Dore Gold Project is not necessary indicative of the geological setting, alteration and mineralization of the Rattlesnake Hills Gold Project, the Pen Gold Project and the Dore Gold Project. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive. Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-looking statements, except as required by applicable laws.
