Kuya Silver Closes Acquisition of Properties in Northern Ontario and Launches the Silver Kings Project

 

Vancouver, British Columbia–(Newsfile Corp. – March 1, 2021) – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the “Company” or “Kuya“) is pleased to announce that pursuant to a share purchase and option agreement dated February 26, 2021 (the “Purchase Agreement“) with First Cobalt Corp. (“FCC“), Cobalt Industries of Canada Inc. (“CIC“) and CobalTech Mining Inc. (“CobalTech“), the Company has acquired a portion of FCC’s silver mineral exploration assets (the “Kerr Assets” or the “Kerr Project“) from FCC (the “Transaction“) as previously announced on December 21, 2020. Pursuant to the terms of the Purchase Agreement, the Company has also acquired from CIC an option to acquire up to a seventy percent (70%) interest in and to the balance of FCC’s silver mineral assets (“Remaining Assets“) located in the historic Cobalt, Ontario silver mining district (the “Option“).

Kuya’s President and CEO, David Stein stated, “This world class silver mining district has been largely abandoned for the past thirty years, and Kuya is excited to sink our teeth into this project. Kuya has identified the opportunity to follow up on recently discovered high-grade silver mineralization and plans to focus on these high-priority areas in our first phase of exploration. Our goal here is to build enough tonnage to justify a new Ontario silver mine that would be the platform to grow production in the district over time. In addition to the Kerr Project, we look forward to working with First Cobalt on the Silver Kings Joint Venture, where we will take a bigger picture approach and target the discovery of new clusters of veins, which have been the focus of the vast majority of historical production in the district.”

Dr. Quinton Hennigh, Kuya Chairman commented, “The extremely high-grade silver veins of the Cobalt camp occur along high-angle structures that transect the Nipissing diabase sill. Best grades tend to occur in host rocks immediately above or below this sill. When this project is viewed with that model in mind, it is easy to see that most of our tenure is underlain by unexplored or poorly explored areas with potential for both hanging wall and footwall vein targets. We plan to set about building a comprehensive model of historic data as well as collect new data that will allow us to identify new structures that might host high-grade silver mineralization. This camp is world class in every respect, and we see exceptional potential for further discovery.”

Pursuant to the Purchase Agreement, the Company has paid FCC a cash payment of $500,000, with a further $500,000 to follow subject to the satisfaction of certain post-closing conditions, and issued 1,437,470 common shares in the capital of the Company (each a “Common Share“) at a deemed price per Common Share based on the twenty (20) day volume weighted average trading price of the Common Shares (the “20 Day VWAP“), prior to the announcement of the Transaction on December 21, 2020, being $2.087 per Common Share to acquire 100% of the Kerr Assets.

In order to fully exercise the Option on the Remaining Assets, the Company is to:

• On or prior to the date that is six months from the closing date (“the Earn-In Date“) of the Transaction, pay to CIC $1,000,000 (“Initial Earn-In Payment“).
• In exchange for a forty-nine percent (49%) interest in the Remaining Assets, on or prior to the date that is twelve (12) months from the Earn-In Date pay to CIC $300,000 (or an equivalent in Common Share at the 20 Day VWAP of the Common Shares prior to such payment being made) and having incurred expenditures of no less than $2,000,000 in and to the Remaining Assets.
• In exchange for an additional eleven percent (11%) interest in the Remaining Assets on, or prior to the date that is twenty-four (24) months from the Earn-In Date pay to CIC $350,000 (or an equivalent in Common Shares at the 20 Day VWAP prior to such payment being made) and having incurred expenditures of no less than $1,000,000 in and to the Remaining Assets; and,
• In exchange for an additional ten percent (10%) interest in the Remaining Assets on, or prior to the date that is thirty-six (36) months from the Earn-In Date, pay to CIC $350,000 (or an equivalent in Common Shares at the 20 Day VWAP prior to such payment being made) and having incurred expenditures of no less than $1,000,000 in and to the Remaining Assets.

As part of the terms of the Transaction, FCC will spend $1 million of the flow through proceeds it raised in 2020 on eligible expenditures, split equally between the Kerr Assets and the Remaining Assets. In connection with the Option, upon completion of a maiden mineral resource estimate of at least 10,000,000 silver equivalent ounces on the Remaining Assets, the Company will make a milestone payment to FCC of $2,500,000 million in cash or Common Shares (at the 20 Day VWAP) or $5,000,000 should the resource exceed 25,000,000 silver equivalent ounces, such milestone payment to continue to be an obligation of the Company for a period of eighteen (18) months following the discovery of the maiden mineral resource. Further, with respect to the Remaining Assets, FCC will have a back?in right for any discovery of a primary cobalt deposit as well as a right of first offer to refine base metal concentrates produced at FCC’s refinery.

Following the payment of the Initial Earn-In Payment, the Company and CIC will enter into a joint venture agreement on terms to be negotiated for the joint exploration and development of the Remaining Assets.

All Common Shares issued in connection with the Transaction are subject to a four-month and one day resale restriction from the date of closing, being July 2, 2021.

Introducing the Silver Kings Project in Ontario’s most famous silver mining camp

The entire 10,000-hectare land package consisting of the 100%-owned Kerr Project together with the joint venture with FCC will be known as the Silver Kings Project and the joint venture will be referred to as the Silver Kings Joint Venture. Initially Kuya’s focus will be on the Kerr Project, where the vast majority of First Cobalt’s 35,000 m 2017-2018 shallow drill program occurred. The Kerr Project includes several historic silver mines including Crown Reserve, Silver Leaf, Kerr Lake, Drummond, Hargrave, Silverfields and others which collectively produced an estimated 70 million ounces of silver. FCC identified several bonanza-style silver intercepts while exploring for cobalt, and Kuya intends to follow up on these intersections with new drilling in order to determine the extent of the high-grade silver mineralization. Kuya has identified potential for both extensions to previously-mined silver veins and new discoveries in the recent drilling.

Kuya is planning to start a Phase 1 exploration program at the Kerr Project immediately, which will include a 2,500 m drilling program and is being budgeted to match a $500,000 flow-through expenditure commitment by FCC.

Some of Kuya’s higher priority initial targets include:

• Kerr Mine area where drill-hole FC-18-0058 intersected 3.57 m of 821 g/t silver and 0.45% cobalt (including 1.57 m of 1,756 g/t silver and 0.71% cobalt) from 29.43 m.
• Silver Leaf Mine area where drill-hole FC-18-0174 intersected 2.5 m of 1,441 g/t silver and 0.28% cobalt from 66.0 m.
• Drummond Mine area where drill-hole FC-18-0094 intersection 2.0 m of 450* g/t silver and 0.10% cobalt from 20.0 m.
• A potential new zone north of the Kerr and Drummond Mines where drill-hole FC-18-0093 intersected 2.2 m of 515* g/t silver and 0.61% cobalt (including 0.7 m of 1,460* g/t silver and 1.81% cobalt) from 1.72.1 m.

*Individual silver assays capped at 1500 g/t included in reported intersection

Kuya is currently working with FCC to plan an initial geological program on the Silver Kings Joint Venture and allocation of the $500,000 flow-through expenditure. Kuya is targeting a drill program on the JV later in the year.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Dr. Quinton Hennigh, P.Geo., Chairman of Kuya and a Qualified Person as defined by National Instrument 43-101.

About Kuya Silver Corporation

Kuya is a Canadian-based silver-focused mining company that owns the Bethania Project, which includes the Bethania mine, located in Central Peru. The Bethania mine was in production until 2016, toll?milling its ore at various other concentrate plants in the region, the Company’s plan is to implement an expansion and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver?lead and zinc concentrates from the run of mine material, until being placed on care and maintenance due to market conditions and lack of working capital.

For more information, please contact the Company at:

Kuya Silver Corporation
Telephone: (604) 398-4493
info@kuyasilver.com
www.kuyasilver.com

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Source: Kuya Silver

Palladium One Closes $15 Million Bought Deal Financing

 

February 24, 2021 – Toronto, Ontario – Palladium One Mining Inc. (TSX-V: PDM, OTC: NKORF, FRA: 7N11) (the “Company” or “Palladium One”) is pleased to announce that it has closed its previously announced bought deal financing of $15,009,000 of securities of the Company (the “Offering”). The Offering was underwritten on a “bought deal” basis by a syndicate of underwriters led by Sprott Capital Partners LP, and including Mackie Research Capital Corporation (collectively, the “Underwriters”).

The Offering consisted of (i) the prospectus offering of 43,100,000 units of the Company (“Units”) at a price of $0.29 per Unit (the “Issue Price”) for gross proceeds of $12,499,000; (ii) the brokered private placement of 1,500,000 units of the Company issued on a flow-through basis (the “FT Units”) at a price of $0.34 per FT Unit for gross proceeds of $510,000, and (iii) the brokered private placement of 5,000,000 units of the Company issued on a charity flow-through basis (the “Charity FT Units”) at a price of $0.40 per Charity FT Unit for gross proceeds of $2,000,000. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each FT Unit and Charity FT Unit consists of one Common Share and one-half of one Warrant, each issued on a “flow through” basis under the Income Tax Act (Canada). Each Warrant will entitle the holder thereof to purchase one non flow-through Common Share at an exercise price of $0.45 any time prior to February 24, 2023.

In connection with the Offering, the Underwriters received a cash fee in an amount equal to 6% of the gross proceeds from the Offering. Additionally, the Company issued to the Underwriters broker warrants exercisable at any time prior to February 24, 2023 to acquire that number of Common Shares which is equal to 6.0% of the aggregate number of Units, FT Units, and Charity FT Units sold under the Offering at an exercise price equal to the Issue Price.

The FT Units and Charity FT Units will be subject to applicable hold periods. The Offering is subject to final acceptance of the TSX Venture Exchange (“TSXV”). The TSXV has conditionally accepted the Offering.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email:
info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include: the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. The Company does not undertake to update forward-looking statements or forwardlooking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forwardlooking statements.

Source: Palladium One Mining Inc.

Ely Gold Royalties Options Cimarron Property Nye County, Nevada

 

Ely Gold Retains a 2.5% Royalty

Vancouver, British Columbia, February 24, 2021 – Ely Gold Royalties Inc. (TSX-V: ELY, OTCQB: ELYGF) (“Ely Gold” or the “Company) is pleased to announce that through its wholly-owned subsidiary, Nevada Select Royalty Inc (collectively “Ely Gold”), it has entered into an Option Agreement with Crestview Exploration (CSE:CRS) for its Cimarron Property, located in Nye County Nevada. Crestview will have the option to purchase 100% of the Cimarron Property (“Cimarron” or the “Property”) with Ely Gold retaining a 2.5% Net Smelter Royalty (“NSR”).

The Cimarron Property is a high-grade epithermal gold target associated with the historic San Antonio mine. The prospect is located in Nye County, Nevada approximately 30 kilometers North of Tonopah, NV (see Figure #1). The property is situated in the northern portion of the San Antonio Mountain Range. Regionally, the property is at the intersection of two prominent gold trends: The Walker-Lane trend which runs approximately NW and hosts a number of mines including Bullfrog, Goldfield, and Rawhide; and an approximately NNE trend of gold mines including Manhattan, Gold Hill, and Round Mountain. The property is comprised of 13 unpatented lode claims which overlap and control the six historically-producing claims around the San Antonio mine. The San Antonio mine was active from the early 1900’s to the 1940’s, and the mine area received attention again in the 1980’s from a number of exploration companies including Newmont and Echo Bay. Altogether, approximately 190 holes and 54,000’ were drilled in the 1980’s, with gold intercepts greater than 1 opt encountered in several drill holes. Mineralization at Cimarron is hosted in a series of Oligocene age volcanic rocks overlying Paleozoic strata, and younger Miocene age intrusions. The target is a shallow, low sulfidation oxide gold system with strong structural control. The mineralization is associated with silicification, brecciation, and iron oxides.

The terms of the agreement are for 2.5% Net Smelter Royalty (NSR) and $200,000 (US$) in the following installments:

• Initial payment of $25,000
• 1st Anniversary of $35,000
• 2nd Anniversary of $50,000
• 3rd Anniversary of $45,000
• 4th Anniversary of $45,000

The 2.5% NSR applies to the property and any locatable land in a 1-mile Area of Interest.

Qualified Person

Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favourable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com

972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com

647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forwardlooking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Figure 1

Source: Ely Gold Royalties

 

NRG 2021-02-23 Newrange Intersects New High-Grade Gold Zone at Pamlico_ Drills 12.47 grams per tonne Au over 4.5 meters

 

VANCOUVER, BRITISH COLUMBIA, February 23, 2021 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to announce that continued Reverse Circulation (RC) drilling at the Pamlico Project in Nevada has discovered high-grade, oxide gold mineralization approximately 85 meters east of the Merritt Zone. Hole P21-115, drilled at -60°, intersected several high-grade structures assaying up to 22.35 grams gold per metric tonne (g/t Au) over 1.5 meters surrounded by lower grade halos, very similar in nature to the Merritt Zone itself.

The uppermost zone of gold mineralization starts at 15.2 meters downhole, returning 4.38 g/t Au over 13.7 meters, including 12.47 g/t Au over 4.5 meters from 16.77 to 21.34 meters. Other high-grade intervals of note include 5.52 g/t Au over 7.62 meters from 92.99 to 100.61 meters, including 22.35 g/t Au from 94.51 to 96.04, and 13.01 g/t Au over 1.5 meters from 123.48 to 125.00 meters. The rocks between these zones are variably mineralized such that the entire 123.5 meter interval averages 1.13 g/t Au. All mineralization is within 117 meters of surface.

It is not yet clear if this new zone is continuous with the Merritt Zone, which was previously thought to have been cut off to the east in the direction of hole P21-115. A follow-up drill program is being planned in order to determine the attitude, size and true width of the new zone which remains open to the north and east and to depth. This new mineralized zone is completely oxidized and, being so close to surface, is well within common open-pit mining limits.

“The discovery of more high-grade gold mineralization close to the Merritt Zone is an exciting development and appears to validate our hypothesis that multiple high-grade zones surrounded by halos of lower grade exist over a much broader area,” stated Robert Archer, Newrange’s CEO. “While historic mining may have removed some gold from the hills, we are confident that other, buried zones remain to be found. Our new, intrusive-related exploration model is being validated by drill-testing of Induced Polarization (IP) targets and the extension of the geophysical survey to cover the entire property is indicating that the entire system may be several kilometers in size.”

Refining the Model

A good exploration model comprises both empirical (fact-based) and genetic (theoretical) components. As field work progresses, data are fed into the model and it is constantly being refined in an iterative manner in order to maximize the odds of success. Given the association of gold mineralization with pyrite at Pamlico and the depth of oxidation, IP has been critical in detecting remnant pyrite below the oxidation level that could give clues as to the distribution and even the origin of the pyrite-gold mineralization. To this end, the RC drill holes targeting shallow IP anomalies in the ‘Line 5 area’ of the property have confirmed the presence of fine-grained pyrite and a relatively flat-lying series of ‘stacked’ zones of gold mineralization.

Drill holes P20-111 and 112 and P21-113 and 116 were all drilled in the area of hole P20-091 that first detected the gold-pyrite association near the western margin of the large ‘Line 5’ IP anomaly (see Newrange news release for December 1, 2020). These holes have now collectively defined gold mineralization starting at a consistent vertical depth of 110-120 meters and, in most cases, continuing to the bottom of the holes. The mineralization appears to be consistent over a distance of at least 200 meters east-west but has only been defined over a distance of about 50 meters in a north-south direction. Gold grades and intercept lengths appear to be increasing to the east, towards the ‘main’ chargeability anomaly. The uppermost zone ranges in thickness from 30 to 80 meters and higher-grade sections are typically found at or near the upper and/or lower boundaries. Individual 1.5 meter samples attain grades of up to 3.83 g/t Au while thicker intervals include 0.75 g/t Au over 18 meters within 0.4 g/t Au over 50.3 meters in hole P20-091 and 0.58 g/t Au over 35 meters in hole P20-111. Several other flat-lying zones exist below this in the 0.25-0.35 g/t Au range over thicknesses of 4.5 to 21.0 meters.

As this is the first time that this style of mineralization has been found on the property, it is unknown whether these grades and thicknesses are representative but the continuity of the mineralization and the apparent increase in grade towards an anomaly that is at least 1,000 meters north-south and hundreds of meters wide is very encouraging. Two vertical holes, P21-120 and P21-121, recently drilled from the top of the limestone ridge overlying the main anomaly were successful in penetrating the limestone into the underlying volcanic rocks. The latter contain disseminated pyrite in both holes and copper mineralization was observed in hole P21-121. Assays are pending for both of these holes.

Geophysics

The current IP survey being conducted at Pamlico when combined with the Company’s 2019 IP survey will cover the entire property, including the target area known as the Skarn Zone. As previously noted, gold bearing skarn systems form some of the largest and most important deposits in the world and some of the most important are found in Nevada, including at Battle Mountain, Carlin, Cove-McCoy, and many other districts.

A large chargeability anomaly extending more than 2.5 kilometers north-south and at least a kilometer east-west has been detected in the vicinity of the Skarn Zone and may be reflecting sulfides introduced by the same system that caused the skarn alteration of the overlying limestones. It is important to note that this anomaly appears to be entirely separate from the ‘Line 5 anomaly’ currently being drill-tested. A full interpretation of the combined IP survey is expected within about three weeks and the Company will release the results at that time.

Next Steps

With the discovery of additional high-grade gold mineralization so close to the Merritt Zone, a follow-up program of RC drilling is being prepared to delineate this new zone. Bids for a diamond drilling program are being evaluated and a contractor will be chosen in the next few days. At present, a minimum of 5 holes are contemplated in approximately 2,000 meters to test the deep chargeability anomaly in the 2019-2020 IP survey and to test the new anomaly in the Skarn area. It is likely that this program will be expanded once underway as the current IP survey is completed and interpreted and as assay results for holes P21-120 and 121 are received. Diamond drilling is anticipated to begin in approximately three weeks.

Quality Assurance – Quality Control

Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and Chairman of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release. All drilling was conducted by Reverse Circulation (RC) methods using a five inch diameter center return bit. All drilling was supervised by professional geologists. Samples were collected on 1.5 meter (5 foot) intervals. Drill cuttings were captured in a vacuum augmented, closed system cyclone, then riffle split in a three-tiered Jones-type splitter. Samples were then securely stored and delivered to Paragon Geochemical Laboratories in Sparks, Nevada for sample preparation and analysis. Samples were dried then stage crushed to 80% passing 10 mesh. A 300 gram sub-sample was then split out and pulverized to 90% passing 140 mesh from which 1 Assay Ton, approximately 30 gram samples were split for analysis by fire assay (FA) with an OES finish. Samples assaying in excess of 5 g/t Au were re-assayed by fire assay with a gravimetric finish. Silver was determined by fire assay with an atomic absorption finish. In addition to the QA – QC conducted by the laboratory, the Company inserts blanks, standards and certified reference material (CRM) at a rate of not less than 1 in 20. Duplicate samples are collected for all drill samples. Duplicate samples are submitted at a rate of 1in 40.

About Pamlico

Discovered in 1884, the Pamlico District rapidly gained a reputation as being one of Nevada’s highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration. A new geological model being developed for the Pamlico Project by Newrange suggests that past production may be just the exposed manifestation of a much larger, and mostly buried, gold-bearing system.

Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County, one of the most pro-mining counties in the pro-mining state of Nevada.

About Newrange Gold Corp.

Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado. With numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.

Signed: “Robert Archer”
CEO & Director

For further information contact:

Sharon Fleming
Corporate Communications
Phone: 760-898-9129
Email: info@newrangegold.com

Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-669-0868
Email: dcross@crossdavis.com

Website: www.newrangegold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement: Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Newrange Gold