StrikePoint Gold Inc. Announces $1,500,000 Private Placement

Vancouver, British Columbia--(Newsfile Corp. - June 24, 2019) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (the "Company" or "StrikePoint") has arranged a non-brokered private placement, raising gross proceeds of up to $1,500,000 through the issuance of up to 6.875 million flow through units at a price of 16 cents per flow through unit and 3.637 million non-flow through units at a price of 11 cents per non-flow through unit. Each unit will be composed of one common share of the company and one common share purchase warrant. Each share purchase warrant will allow the holder to acquire an additional common share of the company at a price of 20 cents per share for a period of three years from the date of closing of the non-brokered private placement.

The company may pay finders' fees to eligible parties which have introduced subscribers to the placement. All securities issued in connection with the placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the placement remains subject to the approval of the TSX Venture Exchange.

StrikePoint Gold is an exploration and development company focused on high-grade precious metals properties in the Golden Triangle, British Columbia. The 2019 exploration season is focused on advancing the high-grade Willoughby Property, located 7 km's east of Red Mountain, which was recently acquired by Ascot Resources.

Willoughby Facts:

  • Historic drill results have included 20.5 m grading 24.99 g/t gold and 184.22 g/t silver, and 11.7 m grading 40.11 g/t Au and 109 g/t Ag, both from the north zone target;
  • 13 m grading 13.37 g/t Au and 63.43 g/t Ag drilled in the main zone target;
  • Additional five target zones on the property have all returned significant gold and silver grades in drill core or channel samples at surface.
  • 4,625 meters of diamond drilling completed on the property in the early 1990s, which defined mineralization over a one-km strike length;
  • This trend remains open on either end, and recent deglaciation has exposed prospective ground that would have been inaccessible to previous explorers;

The technical information contained in this news release has been approved by Marilyne Lacasse, P. Geo. Ms. Lacasse is a qualified person as defined in NI 43-101.

On Behalf of the Board of Directors of Strike Point Gold Inc.

Shawn Khunkhun,
CEO and Director
Tel: (604) 602 1440
Email: sk@strikepointgold.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45837

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