Stratabound Commences Exploration at Golden Culvert, Provides Update on California Gold Transaction
Toronto, Ontario--(Newsfile Corp. - July 13, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) is pleased to announce that field operations have commenced at its Golden Culvert Project in the southeast Yukon Territory. Crews have deployed on soil sampling programs on the northern Rubus and Little Hyland claim portions of the encompassing Golden Culvert Project totalling approximately 1,850 samples over 92.5 line-kilometres as well as stream sediment and ridge-and-spur reconnaissance sampling programs on the newly acquired Win Property to the south. The soil sampling program will complete 100% coverage in these untested areas for which past soil sampling has projected open-ended anomalous gold trends. The Company is also completing a detail-scale unmanned aerial vehicle (UAV) magnetic geophysical survey over the Golden Culvert Main Zone.
Mr. R. Kim Tyler, President and CEO of the Company commented, "Soil geochemistry programs have proven extremely effective in identifying gold mineralization in the western Cordillera, particularly in the Yukon where continental glaciation did not occur during the great ice-ages over 10,000 years ago. Eons of pre-existing erosional sediments and heavy minerals such as gold were left relatively in-place and not swept away."
The Golden Culvert Main Zone, yielding surface float-train samples reported as high as 320 g/t gold and trenching values up to 95.0 g/t gold over 1.5m, lies within a 3km by 250m wide gold-in-soil anomaly similar to those surrounding Seabridge Gold's nearby high-grade 3 Aces gold project featuring a 5,401 g/t Au surface sample discovered in 2003 and many other discoveries in the White Gold District in the western Yukon to name only a few examples. The Company hopes to discover more high-potential exploration targets for follow-up.
California Gold Mining Inc. Transaction Update
The Company is also pleased to confirm that it has received final court approval for the plan of arrangement to acquire all of the issued and outstanding common shares of California Gold Mining Inc. by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement") on July 5, 2021. The transaction file is now in the final stages of review and approval by the TSX Venture Exchange.
ABOUT STRATABOUND MINERALS CORP.
Stratabound Minerals Corp. is a well-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.
ABOUT CALIFORNIA GOLD
California Gold Mining Inc.'s flagship Fremont gold project located in Mariposa County, California lies within California's prolific Mother Lode Gold Belt. The Fremont Project hosts an NI 43-101 mineral resource of 515,000 ounces grading 1.71 g/t gold in the Indicated category and an additional 364,000 ounces grading 1.44 g/t gold in the Inferred category, currently encompassing only the Pine Tree-Josephine zone, (*Technical Report on the Fremont Project, Mariposa County, State of California, U.S.A., Roscoe Postle Associates Inc. (RPA), 2016). The Project hosts two historical underground gold mines across approximately one kilometre out of a total four kilometres of strike along the regional Mother Lode Shear Zone extending across and beyond the Property.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a "Qualified Person" for the purpose of NI 43-101, has reviewed and approved the contents of this news release.
Certain information contained in this news release constitutes forward-looking information. All information other than information of historical fact is forward-looking information. The use of any of the words "intend", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "should", "would", "believe", "predict" and "potential" and similar expressions are intended to identify forward-looking information. More particularly, this news release contains statements concerning the timing and receipt of the final order to the Arrangement and the expected closing date of the Arrangement. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that this information will prove to be correct and such forward-looking information included in this news release should not be unduly relied upon.
The forward-looking information provided in this news release is based upon a number of material factors and assumptions including, without limitation, the timely receipt of TSX Venture Exchange approval in connection with Arrangement.
The forward-looking information included in this news release is expressly qualified by this cautionary statement and is made as of the date of this news release. Stratabound does not undertake any obligation to publicly update or revise any forward-looking information except as required by applicable securities laws.
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