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As a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.
Strikepoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is issuing this news release to retract and clarify certain statements previously made regarding exploration targets at the Company's Hercules Gold Project. The Company acknowledges that certain prior statements may have been contrary to the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
Retraction of Prior Statements
Certain past disclosure by the Company in news releases, interviews, social media, conferences, presentations and other communications stated or implied that the Company's target for further exploration would be converted to a mineral resource or treated the exploration target as an unclassified mineral resource.
The Company hereby retracts these prior statements.
Why These Statements Were Non-Compliant
The statements identified above are contrary to the requirements of section 2.3(2)(a) of NI 43-101, which requires specific cautionary language when disclosing exploration targets. Specifically, the statements improperly suggested that the exploration target was equivalent to, or could readily be converted to, a mineral resource estimate. An exploration target is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.
Clarification Regarding Exploration Targets
The Company wishes to clarify that any exploration target disclosed by the Company is conceptual in nature. There has been insufficient exploration to define a mineral resource at the Hercules Gold Project, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. Exploration targets should not be misunderstood as, or equated with, mineral resources or mineral reserves. There is no guarantee that any exploration program will successfully convert an exploration target into an inferred or other category of mineral resource.
The Company has also amended its website, corporate presentation, social media and other investor relations materials to correct the above issues and to ensure compliance with NI 43-101.
Qualified Person Statement
All technical data and scientific data, as disclosed in this press release, has been reviewed and approved by Michael G. Allen, P. Geo, President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of National Instrument 43-101.
About StrikePoint
Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.
StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.
Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire Resources Corp. to Coeur Mining, Inc. for approximately C$120 million. The Sterling Gold Project is now part of AngloGold Ashanti plc's Arthur Gold project.
The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering.
ON BEHALF OF THE BOARD OF DIRECTORS OF Strikepoint Gold Inc.
"Michael G. Allen"
Michael G. Allen
President, Chief Executive Officer & Director
For more information, please contact:
Strikepoint Gold Inc.
Michael G. Allen
T: (604) 374-8381
E: maS@strikepointgold.com
W: www.strikepointgold.com
Cautionary Statement on Forward-Looking Information
Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would". These forward-looking statements or information relate to, among other things: the potential future exploration programs at the Company's projects; and the potential for future exploration to result in mineral resources being defined.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will continue to have access to its exploration properties and that exploration activities will proceed as planned. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
All of the forward-looking statements made in this document are qualified by these cautionary statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to exploration activities, permitting, market conditions, metal prices, and general economic conditions. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286415
