Northern Boundary of Acquired Land Located 1,500 Metres from Red Pine Exploration's Jubilee Discovery Hole
Toronto, Ontario--(Newsfile Corp. - September 13, 2022) - Kingsview Minerals Ltd. (CSE: KVM) (FSE: 0L4) (the "Company" or "Kingsview") is pleased to announce an agreement with RT Minerals to acquire their Norwalk Project (the "Norwalk" or "Acquisition") located between the Kingsview's Hubcap Project (east and west properties) and Red Pine Exploration's Wawa Gold Project.
Norwalk consists of 33 claims covering approximately 460 hectares. The Red Pine discovery of visible gold in the Jubilee Shear Zone south of the Parkhill Fault in recent drill hole JS-22-368 is located approximately 1,500 m north of the northern boundary of the Norwalk Project, within the Jubilee Shear Zone Complex, which also runs north to south directly into the Barton gold showing located within the Norwalk property. Kingsview's initial exploration efforts will be concentrated on the north-western part of the property.
Historical, non-NI 43-101 compliant, grab sample assays from the Barton Showing include 3.44 g/t, 6.31 g/t and 1.16 g/t gold. The RT Minerals high-resolution magnetic survey reveals a very strong N-S trending magnetic high anomaly and several important exploration targets. Historical drill hole 79-7 returned 4.29 g/t gold over 0.3 metres and straddles the flank of a strong magnetic low, suggesting a large zone of hydrothermal alteration with associated gold mineralization. A historical trench sample containing gold grading 8.44 g/t was reported within this system.
"We are very excited to be adding Norwalk Project to our project portfolio. Kingsview has done extensive due diligence on the project and has come to the conclusion that it contains multiple showings warranting further geological investigation, especially given its proximity and geological similarity to the neighbouring Red Pine gold project. The Barton showing is a complex of NE-SW trending quartz veins within highly carbonized metasediments and an associated iron formation. If the Jubilee Shear Zone cuts through this iron formation, it indicates the possibility of a much larger area of disseminated gold mineralization throughout the formation - not just isolated high-grade vein occurrences. Kingsview is keen on uncovering the full potential the property has to offer," commented James Macintosh, President and CEO.
As per the terms of the Agreement, Kingsview is purchasing one hundred percent (100%) of the Property from RT Minerals, subject to the existing 2% net smelter return ("NSR") royalty, in return for fifty thousand dollars ($50,000) and one million eight hundred thousand (1,800,000) common shares of Kingsview. The deal is subject to RT Minerals receiving any necessary regulatory approvals.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and he has read and approved the technical information contained in this press release. All assay information reported in this press release is historical in nature and should not be unduly replied upon as the Qualified Person is unable to verify the supporting information relating to the assays, the protocols employed in the assay procedures, or details relating to the sample locations or the protocols used in acquiring the samples.
Figure 1: Kingsview Minerals Wawa Gold Properties Location Map
About Kingsview Minerals Ltd.
Kingsview is a mineral exploration company focused on its gold exploration properties, including the flagship Echum Project, located in the active Wawa Gold Corridor in Ontario, Canada. The Company's properties are surrounded by advanced infrastructure in a well-developed mining district. Kingsview will draw on its strong technical team with significant exploration success to advance its properties.
For more information, please contact investor relations at investors@kingsviewminerals.ca.
On Behalf of the Board of Directors,
James Macintosh
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. All statements other than statements of present or historical fact are forward-looking statements and include but are not limited to statements regarding the potential that the Acquired Property will yield any precious metals in future exploration programs and the Company's ability to advance its properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include the Company's ability to implement a drill program on the Acquired Property, that the Company will have sufficient funds available to it and that the Company will continue to be able to retain skilled personnel. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets; there being no assurance that any future exploration program on the Acquired Property will result in expanded mineral resources; the inability of the Company to raise sufficient funds and/or retain necessary personnel to conduct its operations; the impact on the business, operations and financial condition of the Company resulting from the announcement of the purchase of the Acquired Property; the impact that the recovery post COVID-19 may have on precious metals; failure to realize the anticipated benefits of the transaction described in this press release; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and any risks associated with the ongoing COVID-19 pandemic.
You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company's SEDAR profile page at . The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
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