Affinity Metals Provides Update on Regal Exploration, Appoints New Director, and Issues Options
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2020) - Affinity Metals Corp. (TSXV:AFF) (FSE: 34IA) ("the Corporation") ("Affinity") is pleased to report that it has now completed the drilling portion of the 2020 Regal exploration program at the Regal property located in the northern end of the prolific Kootenay Arc approximately 35 km northeast of Revelstoke, British Columbia, Canada.
A total of 3,442.5 meters of diamond drilling was completed with 19 holes being drilled.
Core logging, sampling and splitting is ongoing and nearing completion and all core samples are expected to be delivered to the lab within the next 10 days.
Appointment of New Director
The Corporation is also pleased to report that it has appointed Kelvin Burton to Affinity's Board of Directors. Mr. Burton holds a Small Business & Entrepreneurship degree from Mount Royal University and has been actively involved in mineral exploration public company corporate development as well as investor relations for the past 15 years.
Granting of Incentive Options
The Corporation has granted a total of 1,140,000 incentive stock options under the Corporation's stock option plan to certain Directors, Officers, Contractors and Advisors of the Corporation. The options were granted at a deemed price of $0.255 and are exercisable until October 28, 2030. The incentive options are subject to a hold period of four months and a day from issuance.
The granting of options is subject to approval by the TSX Venture Exchange.
About Affinity Metals
Affinity is focused on the acquisition, exploration and development of strategic metal deposits within North America. Affinity is following a hybrid approach of combining the advancement of strategic assets along with following a Project Generator model.
In addition to the Regal Project located near Revelstoke, the Corporation also recently acquired the Carscallen Extension property located immediately adjacent to the Melkior-Kirkland Lake Carscallen project in Ontario as well as the Windfall North property, located adjacent to Osisko's Windfall project in Quebec. Affinity also holds four additional properties located in Ontario and one additional property located in British Columbia.
On behalf of the Board of Directors
CEO and Director
Affinity Metals Corp.
The Company can be contacted at: email@example.com.
Information relating to the Company is available at: www.affinity-metals.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.
This news release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Actual results could differ materially because of factors discussed in the Corporation's management discussion and analysis filed with applicable Canadian securities regulators, which can be found under the Corporation's profile on www.sedar.com. The Corporation does not assume any obligation to update any forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67132