TORONTO, Oct. 28, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCBQ: BADEF) announces that, further to the Company’s press release dated October 4, 2021, the Company, has completed the transaction (the “Transaction”) involving the assignment of its 50% joint venture interest in certain unpatented mineral claims and leases in Nevada forming the Hot Springs property (the “Hot Springs Property”) to Huizenga Exploration Group, LLC (“HEG”).
Pursuant to the terms of the Transaction, the Company received USD$1,270,000 in cash.
Mr. Raymond Harari, President and Director, commented: “We are pleased to have successfully completed the divestment of our position in the Hot Springs Property, bringing in significant non- dilutive capital, which will enable us to undertake an exploration program in the recently acquired Hercules property. The completion of this Transaction is another step towards pivoting to our prospective silver property in Idaho.”
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known precious metal districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For further information: please contact: Raymond D. Harari, President & Director, Telephone (507) 6675-2221, Email: rdh@canaliscapital.com; Darren Collins, CFO, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
TORONTO, Oct. 4, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCBQ: BADEF) announces that the Company, through its wholly-owned subsidiary, Frontera Gold Nevada Inc. (“Frontera”) has entered into a purchase agreement (the “Purchase Agreement”) with Osgood Mountains Gold, LLC (“Osgood”) and Huizenga Exploration Group, LLC (“HEG”) to assign to HEG its 50% joint venture interest with respect to certain unpatented mineral claims and leases in Nevada forming the Hot Springs property (the “Transaction”). Pursuant to the terms of the Purchase Agreement, HEG has agreed to pay the Company USD$1,270,000 in cash.
The Transaction is at arms length. The Transaction represents a “Reviewable Disposition” as defined in Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets of the TSX Venture Exchange (the “TSXV”). As such, under the policies of the TSXV, completion of the Transaction is subject to approval by the TSXV.
Completion of the Transaction is subject to, among other things, obtaining necessary approvals and consents including approval of the shareholders of the Company. The Company will obtain shareholder approval by written consent resolution.
Bald Eagle’s management, board of directors and advisors believe the transaction advances the interest of shareholders in several ways:
The Transaction provides USD$1.27 million of non-dilutive financing to position the Company for exploration and development activities at the recently acquired and 100% owned Hercules silver project (the “Hercules Project”) in Idaho (reference press release dated August 10, 2021). The Company recovers all joint venture expenses incurred and payments and advances made to Osgood of USD $1.27 million.
The Transaction allows the Company to focus on 100% owned and operated properties such as the recently acquired Hercules Project.
The Company believes the market provides a premium for wholly-owned and operated mineral assets in comparison to non-majority owned and non-wholly operated interests in joint ventures.
Mr. Raymond Harari, President and Director, commented: “The Company has recently attracted outstanding directors and advisors, each of whom has considerable mineral development and capital markets experience. With their input, we have determined that shareholder value will be maximized through operating wholly owned precious metals projects balanced with respect to risk and expected return. Therefore, we recently announced the acquisition of the wholly owned Hercules Project in Idaho. This subsequent sale of our interest in the Hot Springs Joint Venture provides the Company with non-dilutive financing of USD$1,270,000 which can be directed to the wholly owned Hercules Project, in which we have a high level of confidence, as well as further expanding our portfolio of prospective assets.”
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known precious metal districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the expectation of obtaining regulatory and shareholder approval of the Transaction; and the expectation of closing of the Transaction.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
TORONTO, Sept. 24, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCQB: BADEF) is pleased to announce that Mr. Raymond Harari has been appointed President of the Company and Mr. Sidney Himmel has been appointed Executive Chairman of the Board of Directors (the “Board”). Mr. Harari will continue as a member of the Board and Mr. Himmel has stepped down as President and CEO of the Company. Marc-André Lavoie, previously Chairman, is continuing as a director of the Board.
Mr. Harari is the founder of Canalis Capital, a merchant bank focused on disruptive industries. Prior to founding Canalis Capital, Mr. Harari worked at Credicorp Bank in its private wealth group in Panama and Nomura’s consumer and retail investment banking group based in New York City. Mr. Harari graduated with honors from the University of Pennsylvania with a Bachelor of Science in systems engineering and a minor in engineering entrepreneurship and mathematics. Mr. Harari is an active angel investor across the mining, technology, fashion, cannabis, e-commerce, and energy sectors. Mr. Harari also serves as CEO of IM Exploration (CSE:IM) and CEO of Momentous Capital Corp. (TSXV:MCC.P), a Capital Pool Company which is in the process of completing its qualifying transaction. Mr. Harari also served as the deputy director of the Chamber of Commerce, Industry and Agriculture of Panama.
Mr. Raymond Harari, President and Director of the Company, commented: “I am very pleased to assume an increased level of operational activity for Bald Eagle and work alongside Sidney Himmel,Darren Collins and our board of directors, to further our objective of consolidating a portfolio of precious metals assets in favorable mining jurisdictions. The Hercules Silver Property, our recently acquired asset in Idaho represents an ideal opportunity to continue this objective. We are actively analyzing all existing data with the intention of implementing an exploration program to modernize the historic results generated by over 300 drill holes. We believe that through a collaborative approach we can make a significant impact in further exploring our existing properties, as well as acquiring additional assets.”
As a result of these announced changes, the Board will be composed of Sidney Himmel as Executive Chairman, Marc-André Lavoie, Raymond Harari, Peter Simeon, and Nicholas Tintor. The senior operating executives of the Company will be Mr. Raymond Harari as President, Sidney Himmel as Executive Chairman and Darren Collins as Chief Financial Officer. The Company also announces that Michael Bandrowski has resigned from the Board. The Board thanks Mr. Bandrowski for his service as a director.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known precious metals districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. Advancing acquired properties will be through evaluating historical data and utilizing modern exploration techniques and geological concepts. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
ON BEHALF OF THE BOARD OF DIRECTORS
Raymond Harari President & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information: Ray Harari, President & Director, Telephone: +507-6675-2221, Email: rdh@canaliscapital.com; Darren Collins, CFO, Telephone: +1 (786) 633-1756, Email:
TORONTO, Aug. 10, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCQB: BADEF) is pleased to announce that the Company has received TSX Venture Exchange and other regulatory approval for the acquisition by way of a share purchase agreement (the “Purchase Agreement”) of a 100% interest in the Hercules Silver Property (“Hercules” or the “Property”) located in Washington County, Idaho.
The purchase has been completed with the acquisition of all the issued and outstanding shares of 1218530 B.C. Ltd. (“1218530”) from the sole shareholder of 1218530 (the “Seller”). The Property is held directly by ANGLO-BOMARC, US, INC. (“Anglo-Bomarc”), a wholly owned subsidiary of 1218530. The Seller is at arm’s length to the Company.
The qualities of Hercules are consistent with Bald Eagle’s strategy of increasing shareholder value through acquiring prospective precious metal properties with significant historical data, which can be reinterpreted using modern techniques of geophysics, geochemistry, and ore body genesis modeling. The Company also focuses on mining friendly jurisdictions such as Idaho, which is ranked in the top decile in the world for mining investment attractiveness by the Fraser Institute.
The Hercules Property represents:
A significant brownfield land package of nine square kilometers within the underexplored Cuddy Mountain Mining province in West Central Idaho.
A silver rich terrane which has been prospected for silver occurrences since the late 19th century, with six historically identified silver-mineralized zones.
Historic drill intercepts including hole 80-13 with 10.7 meters of 825 grams/tonne (“g/t”) silver, hole PH 42 with 29.3 meters of 259 g/t silver and hole PH 33 with 14.6 meters of 562 g/t.1,2 3 (See Table 1)
Table 1 – Selected Historically Reported Intercepts (Muraro, 2012)1,2; Available at First Idaho Resources Inc.’s SEDAR profile – www.sedar.com
Neither the company nor the Qualified Person disclosed below has independently verified the historical drilling results and true widths and further have not verified sampling and analytical test results. Summaries of past quality control measures and data verification procedures are not available, other than reviewing the results from the NI 43-101 herein referenced. Core recoveries have not been verified.(1),(2),(3),(4),(5)
Management Commentary
Mr. Sidney Himmel, President and CEO of the Company, commented: “The property we have acquired has been under-explored with modern exploration methods. Our team of geologists believe that there is potential for discovery of epithermal and/or magmatic hydrothermal silver mineralization within the Hercules Rhyolite. Historic drilling and underground exploration supports this model at Hercules.”
About the Hercules Property (1),(2),(3),(4),(5)
The 866-hectare Hercules Silver Property, on the northwestern shoulder of Cuddy Mountain and 200 kilometers northwest of Boise, Idaho, consists of 40 unpatented lode mining claims, one patented lode claim and an additional 475 hectares of private land with attendant access, exploration, mining, milling and water rights. Cuddy Mountain is an uplifted and tilted fault block of accreted Mesozoic terrane about 19 kilometres across, characterized by open grassy slopes. It is surrounded on all sides by rocks of the Columbia River Basalt Group. The core of the mountain is a Triassic-Jurassic sequence of volcanics, volcaniclastics and sediments.
The Cuddy Mountain conglomerate, the basal unit, is 61 metres to 122 metres thick. It grades upwards into fragmented andesite. The Jurassic ash-flow Hercules Rhyolite, which contains the silver mineralization identified historically, overlies the andesite unit. Maximum thickness of the rhyolite, ranges from 91 metres to 122 metres.
The rhyolite, where not exposed, lies below the Brownlee unit which is composed of andesitic pyroclastic tuffs, lenses of manganiferous limestone and lesser amounts of shale and sandstone. Silver values in the 300 to 950 g/t range and generally associated with fractured, shattered and brecciated zones within the Hercules Rhyolite have been recorded in drilling and channel sampling. (See Table 1.) The Bald Eagle team believes that the mineralization is hydrothermal (epithermal).1
Mineralization has been identified over 4,800 metres of exposed Hercules Rhyolite, with targets from south to north including the Belmont, Haystack Ridge, Fishpond, Hercules Adit, Hercules Ridge and Grade Creek zones.1
Historical work completed between 1965 and 1988, included results from 307 drill holes and 320 metres of underground development. Of the 307 drill holes, 28 were diamond drill holes, 43 underground percussion, and 236 reverse circulation. As a result of the drill campaigns two target types were identified, being high grade silver accompanied by 1-2 % lead and zinc and lower grade disseminated silver suggesting bulk tonnage potential.
Limited mineralogical work indicates that silver-bearing minerals are included in a polymetallic assemblage of sulfosalts including tetrahedrite-tennantite and polybasite with accessory pyrite, sphalerite and galena.1,2,4,5
Mineralization occurs in brecciated pipe-like zones as well as broad, tabular zones, each being surrounded by halos of lower grade material. Historic drilling shows the pipes to increase in grade and thickness and remain open at depth. The two largest silver-in-soil anomalies on the Property occur at the Hercules Ridge which has seen little drilling, and the Grade Creek Zone which has not been drilled.1,2
Transaction Terms
Pursuant to the Purchase Agreement, the Company has acquired all issued and outstanding shares of 1218530 for C$150,000 in cash and 1,400,000 common shares of the Company at a deemed price of C$0.10 per common share. On commencement of commercial production on the Property, a cash payment of $1,000,000 will be made to the Seller. The Seller has also been granted a 2% net smelter royalty (“NSR”), subject to a $1,000,000 buyback for one-half (1.0%) of the NSR. Bald Eagle previously paid the Seller an exclusivity fee of $25,000. All legal, technical, and financial due diligence has been completed to the satisfaction of Bald Eagle. The parties to the Purchase Agreement have been provided standard representations and warranties for a transaction of this nature. A finder’s fee of $17,500 in cash and 140,000 common shares of the Company, in total equal to 10% of the consideration paid to the vendor at closing, was paid to Kurt J. Hoffman, who is at arm’s length to the Company.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Nick Tintor, a Qualified Professional Member of the Mining & Metallurgical Society of America and the “Qualified Person” for Bald Eagle within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. Advancing acquired properties will be through evaluating historical data and utilizing modern exploration techniques and geological concepts. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
References:
(1) The technical information disclosed in this news release, including historical drilling results on the Hercules Property is obtained directly from the historical report “NI 43-101 Technical Report on the Hercules Silver Property, Washington County, Idaho for First Idaho Resources Inc. and Anglo-Bomarc Mines Ltd ., June 2012 , by T.W. Muraro , P.Eng.”. (Filed April 3, 2013 and available on First Idaho Resources Inc.’s SEDAR profile at www.sedar.com.)
(2) Don H. Adair, High Grade Silver Potential of the Hercules Project, Cuddy Mountain District, Idaho, For Anglo-Bomarc Mines, Ltd., December 23, 1985, Boise, Idaho, referenced in NI-43-101 Muraro Technical Report.
(3) A qualified person has not done sufficient work to classify any historical estimates of resources as current mineral resources or mineral reserves and the issuer is not treating any historical estimates as current mineral resources or mineral reserves and has not verified the historical drilling results or any information disclosed in this press release, including sampling, and analytical test results. Summaries of past quality control measures and data verification procedures are not available, other than reviewing the results from the NI 43-101 herein referenced.
(4) Livingston, D.C., A Geologic Reconnaissance of the Mineral and Cuddy Mountain, 1923, Mining District, Washington and Adams Counties, Idaho, Pamphlet No. 13, Idaho Bureau of Mines and Geology, State of Idaho.
(5) Don. H Adair, Geological Report on the Hercules Silver Property, Cuddy Mountain, Idaho, for First Idaho Resources Inc., September 14, 2001.
ON BEHALF OF THE BOARD OF DIRECTORS
Sidney Himmel President, CEO & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the ” U.S. Securities Act “) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the estimates of potential quantity, grade, and metal and mineral content at the Property, Bald Eagle’s assessment of the reliability of the current exploration results, Bald Eagles’ assessment of the reliability and relevance of the historical drill results; the ability of the joint venture to operate the exploration and development programs for the Property, and the anticipated timing of the next phase of exploration work.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For further information: Sidney Himmel, President, CEO & Director, Telephone: +1 (416) 924-2698, Email: ssh@baldeagleresources.com; Darren Collins, CFO & Director, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
TORONTO, July 15, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCQB: BADEF) is pleased to announce receipt of the final assays for the 2021 drill program and the initiation of a summer exploration program on the Hot Springs Joint Venture in Nevada (the “Property”), which is a 50%-50% joint venture between the Company and Osgood Mountain Gold LLC (the “Joint Venture”). The final assays from hole HS-2020-04 intercepted 148.2 meters of 0.34 grams per tonne gold starting at 181 meters down hole, and from hole HS-2020-5 intercepted several smaller zones of anomalous gold from 147 meters to 312 meters down hole (see below Table). These results together with Bald Eagle’s previously reported results (see Bald Eagle’s press release dated May 19, 2021) demonstrate the presence of significant gold mineralization at the Property.
Summary of Drill ResultsMap Indicating Drill Hole Locations and Planned Geophysics and Additional Field Work
The field campaign outlined a broad zone of anomalous gold with initial drilling along strike. The current drilling identified a broad zone of mixed oxide and sulphide mineralization associated with a chargeability feature from IP geophysics. Drillhole HS-2020-04, which was rotated 15 degrees from HS-2020-01, intercepted the mineralized zone approximately 50 meters north of borehole HS-2020-01.
Drilling intercepted mineralization from 150 to 350 meters below surface, with true vertical depth of approximately 350 meters to the base of mineralized zone (actual downhole depths of 180 meters to 390 meters and 180 meters to 330 meters). The chargeability feature associated with this mineralized zone trends North-South for more than 400 meters, has a footprint width of 440 meters, and is approximately 150 to 200 meters thick. Further drilling is needed to define the lateral extent and to investigate feeder structures. This zone is open along strike to the North and South.
Summary of Drill Results:
Mr. Sidney Himmel, President, CEO and Director, commented: “Intercepting gold in each of the holes of the initial program has confirmed gold potential at Hot Springs. The next steps will be further ground geology to further define the surface footprint and improve geologic modeling of the gold system. This work will help focus subsequent drilling for the best chances of significant discovery.”
The summer 2021 exploration program that has been approved and funded by the Joint Venture includes:
A dedicated program of geologic and alteration mapping over the current Dutch Flats Prospect area with outward extension covering much of the Property.
Rock sample database generation to improve surface geological detail including aerial extent.
Additional geochemical soil sampling to verify and expand data substantially beyond the Dutch flats prospect area. The area to be sampled is 3,000 meters by 3,000 meters.
Expansion of the initial IP geophysical survey in order to identify and extend anomalous zones. The expansion work includes an additional 8 lines, each 3.8 kilometers long with coverage of 2.4 kilometers in a North-South direction, including the original three lines of IP.
Further geophysics using Hybrid Source Audio Magnetotellurics surveying to identify geologic structures.
This summer exploration program is expected to extend into the fall with data becoming available by the early fall. Additional RC and Core Drilling, based upon current drilling and IP results, are in the permitting process and anticipated to begin in the fourth quarter.
The drilling program is being operated by Osgood Mountains Gold under the Joint Venture Agreement between Bald Eagle Gold Corp. and Osgood Mountains Gold.
Map Indicating Drill Hole Locations and Planned Geophysics and Additional Field Work
The Dutch Flats area includes Sections 16, 17, 20 and 21 of Township 38N40E. Additional work is being carried out to the North, East, and South-West of the drilling completed in 2020-2021 Program. Additional lines of IP and HSAMT are delineated in blue. Additional fieldwork is occurring in the regions within the red circle outlines.
The analytical chemistry programs were completed by American Assay Labs (“AAL”) of Sparks, Nevada, and ALS Global Geochemistry Analytical Laboratory (“ALS”) in Reno, Nevada. The program totaled 1,857.8 meters of core drilling. All results are being incorporated into the Project´s three-dimensional Leapfrog model.
The technical information in this news release has been reviewed and approved for disclosure by Michael Feinstein, PhD, CPG, and the “qualified person” for Bald Eagle within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
All samples are collected and maintained in accordance with established QA/QC protocols. Analytical services reported in this press release were carried out by ALS Minerals, an ISO/IEC 17025:2005 & ISO-9001:2008 accredited laboratory. American Assay Labs is completing the preparation and further assaying for the last four holes. American Assay Labs is an ISO-17025 accredited laboratory.
The Hot Springs Property
The Hot Springs Property is a 50%-50% joint venture between the Company and Osgood Mountains Gold LLC. The Property consists of approximately 11,894 acres comprised of private mineral rights and unpatented federal lode mining federal claims. This location in north-central Nevada is located at the junction of the prolific Getchell Gold Trend and the northwestern Nevada Epithermal Province. Land position is situated approximately 25 miles West of the Twin Creeks, Getchell and Pinson Mines and 30 miles East of the former producing Sleeper Mine.
On March 5, 2021, the Company filed an NI 43-101 compliant technical report on the Property, entitled “NI 43-101 Technical Report, Hot Springs Gold Project, Humboldt County, Nevada” with an effective date of November 3, 2020. A set of historical data exists for 8,175 meters of drilling across 91 drill holes. The historic drill programs outlined a near surface zone of gold mineralization in an area with dimensions of approximately 1,200 meters by 400 meters.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
CAUTIONARY NOTES
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the estimates of potential quantity, grade, and metal and mineral content at the Property, Bald Eagle’s assessment of the reliability of the current exploration results, Bald Eagles’ assessment of the reliability and relevance of the historical drill results; the ability of the joint venture to operate the exploration and development programs for the Property, and the anticipated timing of the next phase of exploration work.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Bald Eagle Gold Corp.
For further information: Sidney Himmel, President, CEO & Director, Telephone: +1 (416) 924-2698, Email: ssh@baldeagleresources.com; Darren Collins, CFO & Director, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
TORONTO, June 16, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCQB: BADEF) is pleased to announce that it has received approval and will begin trading on the OTCQB Venture Market. The common shares of the Company will trade under the ticker symbol “BADEF”. The Company will continue to trade in Canada on the TSX Venture Exchange under the symbol “BIG”.
Mr. Sidney Himmel, CEO and Director of the Company, comments: “We are very pleased to commence trading on the OTCQB. This listing greatly increases our addressable investor audience and aligns with our corporate branding and current asset focus in the United States.”
The OTCQB is a venture market that was established as a premier market for early-stage and developing U.S. and international companies to gain exposure to a wider network of investors.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
CAUTIONARY NOTES
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the listing of the Company’s common shares on the OTCQB and the business and strategic plans of the Company.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For further information: Sidney Himmel, President, CEO & Director, Telephone: +1 (416) 924-2698, Email: ssh@baldeagleresources.com; Darren Collins, CFO & Director, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
TORONTO, June 7, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) is pleased to announce the appointment of Mr. Nicholas Tintor and Mr. Michael Bandrowski as Directors of the Company. The Company is also pleased to announce the appointment of Dr. Laurence Curtis and Mr. Jean Depatie as Senior Technical Advisors to the Company. These appointments represent a significant acquisition of technical and financial expertise in the areas of mineral exploration and development, mineral property acquisition, and capital markets. Collectively, these appointments represent over a century of mining industry experience.
Mr. Sidney Himmel, President and Chief Executive Officer of the Company stated: “The Company´s in-house geological evaluation and execution capabilities have been enhanced to world-class levels as a result of these appointments. The Company will be aggressively reviewing its current and growing acquisition portfolio with the strategic objective of building sustained shareholder value through both property acquisition and development.”
Mr. Himmel continued: “We are extremely appreciative that four senior geologists, with vast expertise in mineral exploration and development, have joined the Company, as directors and advisors. Each of Laurence Curtis, Jean Depatie, Nicholas Tintor, and Michael Bandrowski are well known to mineral investors around the world. Alongside the other Directors of the Company, I welcome our new colleagues enthusiastically. I look forward to working with them in all areas of exploration and property acquisition.”
Nicholas Tintor, Executive Director
Mr. Tintor, a geologist, and mining executive will be an active Executive Director of the Company. He has more than 35 years of experience in the Canadian mining industry and has been involved in all aspects of the junior mining sector including executive management, project generation, corporate finance, and investor relations.
Mr. Tintor holds a B.Sc., Geology from the University of Toronto and is a Qualified Professional Member of the Mining and Metallurgical Society of America and a Qualified Person as defined by NI 43-101. He is also a lifetime member of the Prospectors & Developers Association of Canada, and a member of PDAC’s Securities Committee.
He is also President and CEO of RG Mining Investments Inc., a private investment company and a member of the Boards of Directors of Big Ridge Gold Corp., Benz Mining Corp., Adyton Resources Corp., and Benz Capital Corp.
Michael Bandrowski, Independent Director
Mr. Bandrowski, an executive and former research analyst, will be an Independent Director of the Company. For the past 16 years, he has been active in the mineral exploration and development industry as a mining research analyst and mineral exploration and development corporate executive. He holds a B.Sc. in geology and an MBA and has previously served on numerous public and private company boards.
He is currently President and Chief Executive Officer of Big Ridge Gold Corp., a company which is acquiring an 80 per cent interest in Hope Brook Gold Project of Newfoundland and Labrador, an advanced stage, high-grade gold project. He was Founder of Escarpment Capital Advisors, a premier Canadian mining advisory firm. Over a nine-year period, he was a mining Research Analyst at Beacon Securities Inc., a mining Research Analyst at Clarus Securities Inc., and a Research Associate at Paradigm Capital.
Dr. Laurence Curtis, Senior Technical Advisor
Dr. Laurence Curtis is an economic geologist with over 45 years of experience in exploration, mine development, and financing of precious metals resources . He holds a Ph.D. from the University of Toronto and is a licensed Professional Geologist (Ontario) and a Lifetime Member of the PDAC.
Dr. Curtis is currently a director of Excellon Resources Inc. and formerly a Director of Wheaton River Minerals, High River Gold and Breakwater Resources. In 1996 he founded Intrepid Minerals Corporation as a mineral exploration and development company and was with the company through to 2014. During that period, he operated as Chief Executive Officer and Chief Operating Officer. Under his tenure, the company advanced projects in Argentina, Central America, and Western Australia. During the transition to Intrepid Mines Ltd., he effected substantial financings and negotiated significant joint ventures with major international mining companies.
Dr. Curtis was also Vice-President and Senior Analyst, Global Resources at Dundee Capital Markets from 2011 to 2015, and Mining Analyst at Clarus Securities from 2010 to 2011. He received the Arbor Award from the University of Toronto for raising awareness of funding of undergraduates in the field of Earth Sciences.
Jean Depatie, Senior Technical Advisor
Mr. Depatie has had a distinguished career in the mining industry in Canada and internationally for the past 45 years. He is an internationally recognized expert in mineral exploration and development and minerals and mining corporate finance including financing and mergers and acquisitions. Mr. Depatie is a graduate of the University of Montréal where he obtained a B.A in Mathematics and Physics and a B.Sc. in Geology. He received an M.Sc. from Laval University in Québec City.
He was a Director of Glamis Gold (which was sold to Goldcorp creating a $21.3 billion company), a Director of Novicourt Inc. (which was acquired by Xtrata), and a Director of Consolidated Thomson Iron Mines (acquired by Cliff Resources in a $4.9 billion acquisition transaction). Mr. Depatie has served many public companies at the highest levels. As President and CEO of Louvem Mines he was instrumental in the discovery of the Louvicourt base metal mine and the development of the Beaufor gold mine in Quebec. As a Director of Gold Hawk Resources, he was involved in the acquisition and reactivation of the Cobre San Juan base metal mine located in San Mateo, Peru.
Mr. Depatie received the 1990 Prix d’Excellence from the Québec Ministry of Mines and Energy for having financed and put into production the Stratmin mine, one of the most significant graphite mines in North America. In 1991, He was President of the Association Professionnelle des Géologues et des Géophysiciens du Québec.
In order to accommodate the newly appointed directors, Mr. Darren Collins will resign his position as Director of the Company. Mr. Collins will remain Chief Financial Officer of the Company. The Company has granted an aggregate total of 3,300,000 restricted share units of the Company (“RSUs”) to certain directors, consultants and advisors of the Company under the Company’s restricted share unit plan (the “RSU Plan”). The full text of the RSU Plan is available on SEDAR at www.sedar.com. The RSUs will vest in equal semi-annual installments over two years after the date of grant. Each RSU represents the right to receive one common share upon vesting.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and the board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
CAUTIONARY NOTES
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the completion of the Transaction, obtaining regulatory approvals, Bald Eagle’s assessment of the reliability and relevance of the historical drill results of the Property.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wolf, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For further information: please contact: Darren Collins, CFO & Director, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
TORONTO, May 19, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) is pleased to announce drill results for three of five drill holes received from its winter drilling campaign at the Hot Springs Property in Nevada (the “Property”). Two of the five drill holes intercepted a newly identified zone of gold mineralization (hole HS-2020-01 reported; HS-2020-04 pending). The new zone of mineralization correlates well with the IP geophysics chargeability anomalies identified by the joint venture prior to commencement of the drill program. Drilling identified wide intercepts of significant alteration, which display characteristics of a hybridized low-sulphidation epithermal gold system. The majority of historical drilling did not investigate horizons deeper than 100 metres. The average hole depth of this program was approximately 370 metres. Based on these deeper drill results, a new system has been identified. These drill results materially increase the potential to establish a significant gold resource.
The analytical chemistry programs for the first three holes were completed by American Assay Labs in Sparks, Nevada, and ALS Global Geochemistry Analytical Laboratory in Reno, Nevada. The drilling of the five core holes was completed in March 2021. The program totaled 1,846.3 metres of core drilling. All results are being incorporated into the Property’s three-dimensional Leapfrog model and correlated to the IP geophysics data.
The results from the first three core drill holes are summarized below.
HS-2020-01
Drill hole HS-2020-01 was designed to twin a previous high-grade shallow intercept and further investigate mineralization at depth based on anomalies identified during the IP geophysics program. The deeper zone was encountered from 180.3 to 389.9 metres and intercepted 209.6 metres averaging 0.55 grams per tonne gold. This included 39.7 metres averaging 0.70 grams per tonne gold and 32.5 metres averaging 0.79 grams per tonne gold. Based on the results of HS-2020-01, it has been determined that significant gold mineralization is associated with sulfides. Therefore, the upcoming programs will be testing a number of identified geophysical targets, which represent sulfide bodies that may contain significant gold mineralization. This drill hole confirmed the increase in gold mineralization associated with sulphide content starting at 180 metres and throughout the chargeability anomaly.
The deep zone of HS-2020-01 is hosted within a shattered zone of the Harmony Formation where multiple silicification events, brecciation events, and silica-sulphide pulses have created a broad mineralized zone. The zone is open laterally and along strike. More drilling is planned to test offsets of this mineralized body as well as evaluating other geophysical targets.
HS-2020-02 and HS-2020-03
Holes HS-2020-02 and HS-2020-03 tested shallow mineralization previously identified in historical surface exploration results. Drill hole HS-2020-02 was drilled at the top of the hill above hole HS-2020-03 and was designed to test for further mineralization at depth. The zone from 20.9 to 100.9 metres intercepted 80.0 metres averaging 0.24 gram per tonne gold. This interval correlates with hole HS-2020-03. Drill Hole HS-2020-03 was the first hole drilled during the program. The target zone was encountered from 24.1 to 103.4 metres intercepting 79.3 meters and averaged 0.36 grams per tonne gold. Drill hole HS-2020-03 did not reach the target depth.
Drill hole HS-2020-04 will assist in determining stratigraphic and structural continuity of hole HS-2020-01. This is important as the mineralization appears to have stratigraphic and structural controls.
Mr. Sidney Himmel, President, CEO and Director, comments: “These results are consistent with our belief that the Property hosts an epithermal gold deposit. In particular, the results of hole HS-2020-01 which tested one of the geophysical anomalies, was very promising in terms of the width of mineralized horizons and correlation of sulfides with gold. These initial grades are consistent with large and mineable bulk tonnage gold deposits in Nevada. The next programs will entail the targeting of additional geophysical targets, a number of which have been identified, and will result in the creation of a local mineral deposit model incorporating structural and lithological controls. With a deeper epithermal system now confirmed, the results now warrant undertaking a comprehensive exploration program to infill known mineralized zones, and to test the extent of mineralization across the entire project area.”
The technical information in this news release has been reviewed and approved for disclosure by Michael Feinstein, PhD, CPG, and the “qualified person” for Bald Eagle Gold Corp. within the meaning of NI 43-101. All samples are collected and maintained in accordance with established QA/QC protocols. Analytical services reported in this press release were carried out by ALS Minerals, an ISO/IEC 17025:2005 & ISO-9001:2008 accredited laboratory. American Assay Labs will complete the cutting, preparation, and assaying for the remaining two holes. American Assay Labs is an ISO-17025 accredited laboratory.
The Hot Springs Property
The Hot Springs Property is a 50%-50% joint venture between the Company and Osgood Mountains Gold LLC. The Property consists of approximately 11,894 acres comprised of private mineral rights and unpatented federal lode mining federal claims. This Property is located at the junction of the prolific Getchell Gold Trend and the Battle Mountain Gold Trend in north-central Nevada. The land position is situated approximately 25 miles west of the Twin Creeks, Getchell and Pinson Mines and 30 miles east of the Sleeper Mine.
On March 5, 2021, the Company filed an NI43-101 compliant technical NI-43-101 report on the Property, entitled “NI 43-101 Technical Report, Hot Springs Gold Project, Humboldt County, Nevada” with an effective date of November 3, 2020. A set of historical data exists for 8,175 meters of drilling across 91 drill holes. The historic drill programs outlined a near surface zone of gold mineralization in an area with dimensions of approximately 1,200 metres by 400 metres.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company’s objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
CAUTIONARY NOTES
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the estimates of potential quantity, grade, and metal and mineral content at the Property, Bald Eagles’s assessment of the reliability and relevance of the historical drill results; the ability of the joint venture to operate the exploration and development programs for the Property, and the anticipated timing of the second phase exploration work.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For further information: Sidney Himmel, President, CEO & Director, Telephone: +1 (416) 924-2698, Email: ssh@baldeagleresources.com; Darren Collins, CFO & Director, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
TORONTO, April 26, 2021 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) is pleased to announce it has entered into a binding letter of intent dated (the “LOI”) with 1218530 B.C. Ltd. (the “Seller”) to acquire the right and title to the Hercules Silver Property (“Hercules” or the “Property”) located in Washington County, Idaho. The proposed acquisition (the “Transaction”) will be completed through the acquisition of all of the issued and outstanding shares of the Seller by the Company. The Property is held directly by ANGLO-BOMARC, US, INC., (“Anglo-Bomarc”). Anglo-Bomarc is a wholly owned subsidiary of the Seller. The Transaction is consistent with the Company’s strategy to build precious metal resources in recognized mining-friendly jurisdictions and meets the Company’s project evaluation and selection criteria, specifically:
Idaho is contiguous to and north of Nevada (location of Bald Eagle´s Hot Springs Joint Venture).
According to Annual Survey of Mining Companies, 2020, Fraser Institute, Idaho is ranked the ninth and Nevada is ranked the first jurisdiction for exploration and mining investment out of 77 locations around the world. These jurisdictions are ranked on geological attractiveness and government policy.
The Transaction complements the Company’s precious metal investment in Nevada with diversification into silver. In addition to being a recognized precious metal, silver has a significant number of commercial and industrial applications (solar, electric vehicles and electronics).
Six mineralized areas have been identified along the 10,000 feet (3,048 metres) of Hercules rhyolite underlying the length of the Property. From south to north, they are Belmont, Haystack Ridge, Fishpond, Hercules Adit, Hercules Ridge and Grande Creek.(1)
Following earliest drilling (1965) near the Hercules Adit, surface drilling, guided by soil geochemistry, focused on five additional areas and it was clear that anomalous silver greater than one ounce per ton is widespread in the Hercules rhyolite.(1)
Between 1965 and 1988 work by eight companies resulted in thirteen drill programs and about 1,045 feet (319 metres) of lateral underground advance. The drill programs produced 28 core holes, 43 underground percussion holes and 236 reverse circulation rotary holes. Select results from the Hercules Adit Area of the Property, include:(1)
The technical information disclosed in this news release, including historical drilling results on the Hercules Property are referenced from the technical report entitled “NI 43-101 Technical Report on the Hercules Silver Property, Washington County, Idaho for First Idaho Resources Inc. and Anglo-Bomarc Mines Ltd., June 2012, By T.W. Muraro, P.Eng.” (currently available on First Idaho Resources Inc.’s SEDAR profile at www.sedar.com, filing date, April 3, 2013).
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves. A Qualified Person has not verified historical drilling results or information disclosed in this press release, including sampling, and analytical test results. A summary of past quality control measures is not available, other than reviewing the results from the NI 43-101 herein referenced.
Transaction Terms and Conditions
Pursuant to the terms and conditions of the LOI, the Company will acquire all the issued and outstanding shares of the Seller for C$150,000 in cash and 1,400,000 common shares of the Company. In addition to the foregoing, on commencement of commercial production on the Property, a payment of $1,000,000 will be made to the Seller. The Seller will also be granted a 2% net smelter royalty (“NSR”), subject to a $1,000,000 buyback for one-half (1.0%) of the NSR. Concurrently with the execution of the LOI, Bald Eagle has paid a non-refundable deposit of $25,000 to the Seller.
Closing of the Transaction is subject to the following:
All legal, technical and financial due diligence completed to the satisfaction of Bald Eagle.
Parties entering into a definitive share purchase agreement with standard representations and warranties for a transaction of this nature.
Approval of the Transaction by respective Boards of Directors and shareholders, as may be required.
Receipt of any applicable regulatory approvals and third-party consents, including the approval of the TSX Venture Exchange.
No material adverse change in the business, results of operations, prospects, financial condition or otherwise.
Any other closing conditions customary for transactions of this nature.
The Seller is arm’s length to the Company.
About the Hercules Silver Property
The Hercules Silver Property is approximately 1490 acres (603 hectares) of mineral claims and accessible private lots, between 3,000 (914 metres) and 5500 feet (1,676 metres) above sea level on the north western shoulder of Cuddy Mountain, 120 miles (193 kilometres) northwest of Boise, Idaho and 20 miles (32 kilometres) northwest of Cambridge, Idaho.
Cuddy Mountain is an uplifted and tilted fault block of accreted terrane about 12 miles (19 kilometres) across. It is surrounded on all sides by rocks of the Columbia River Basalt Group. Flat lying erosional remnants of the basalt cover half the mountain top, six to seven thousand feet above sea level. The core of the mountain is a Triassic Jurassic sequence of volcanics, volcaniclastics and marine sediments. These older rocks are best exposed on the northwest and western flanks of the mountain. They are separated from the much younger Miocene Columbia River Group by prominent regional faults. The Cuddy Mountain Fault is mapped for 20 miles (32 kilometres) along the southwest and south flanks of the mountain. The northwest flank is defined by the older, east verging Connors Creek fault. A Jurassic, ash flow rhyolite unit, 300 to 400 feet (91 to 121 metres) thick, the Hercules rhyolite, is the host for the silver occurrences in the region. It has been the focus of silver exploration since the 1880s.
Management Commentary
Mr. Sidney Himmel, President and CEO of the Company, commented: “Bald Eagle is dedicated to the building of precious metals resources in the world´s top mining jurisdictions. This Transaction is consistent with the transactional model implemented by the Company and is representative of the financial and technical skillsets of our management team and the board. Located directly to the north of our Nevada asset, where we have confirmed the presence of an epithermal system, the initial programs for the Hercules Silver Property will recompile historic geochemical, drilling, sampling, and analytic data to create an appropriate exploration plan within the context of modern technologies of geochemistry, geophysics, genetic modeling, and metallurgy. The Hercules Silver Property is highly prospective for silver, yet it has been underexplored over the past several decades. We look forward to exploring this potentially significant silver property. After viewing dozens of projects, we are very pleased with the outcome of our efforts and look forward to the completion of this acquisition, subject to the completion of the various closing conditions.”
The technical information in this news release pertaining to geological data and its interpretation has been reviewed and approved for disclosure by Mark T. Smethurst, P.Geo., Senior Geologist of Bald Eagle Gold Corp., and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company is acquiring advanced exploration projects for the exploration and development of precious metals mineral resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
CAUTIONARY NOTES
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information 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 variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the completion of the Transaction, obtaining regulatory approvals, Bald Eagle’s assessment of the reliability and relevance of the historical drill results of the Property.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wolf, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For further information: please contact: Sidney Himmel, President, CEO & Director, Telephone: +1 (416) 924-2698, Email: ssh@baldeagleresources.com; Darren Collins, CFO & Director, Telephone: +1 (786) 633-1756, Email: darren.collins@baldeaglegold.com
