• Thu. Dec 8th, 2022

HighGold Consolidates Ownership of Yukon Gold Properties in Emerging Low Intrusion Gold District, Selwyn Basin

ByDebra J. Aguilar

Sep 13, 2022

Vancouver, British Columbia–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V: HIGH, OTCQX: HGGOF) (“HighGold“or the”Company”) is pleased to announce that the Company has signed an agreement to purchase the remaining 50% interest in its Yukon mineral properties, bringing HighGold’s ownership to 100%. The acquisition includes four (4) distinct properties (the “Properties) totaling 1,023 claims and 21,000ha (210 km2). The most advanced of the properties is King Tut, located 10 km south of Snowline Gold’s Selwyn Basin land package and 50 km from their recent ‘Reduced intrusive related gold‘ Discovery. At the King Tut property, previous exploration work has identified gold-in-ground anomalies several kilometers long (Figure 1) comprising a one kilometer by one kilometer open gold anomaly associated with the upper carapace of an intrusive body without prior drilling.

“Following the recent and very significant new gold discoveries in the Selwyn Basin in the Yukon, it was time to take our Yukon gold property portfolio off the back burner,” commented CEO Darwin Green. “In our opinion, the King Tut property represents one of the best undrilled intrusive gold anomalies not yet controlled by Snowline Gold in this emerging new district. Consolidating ownership has been the first step for us as we seek to create shareholder value from these Yukon assets.

Please CLICK HERE to hear additional comments from CEO Darwin Green.

Context of Yukon Properties

The properties were first staked between 2010 and 2011 as part of a major gold-focused grassroots exploration program in Yukon’s Selwyn Basin, carried out as a 50/50 joint venture. 50 between Constantine Metal Resources (“Constantine”) and Carlin Gold Corporation (“Pug”). Initial staking focused on areas with regional stream silt geochemical anomalies with high gold and pathfinder anomalies with later work including the collection of over 12,000 samples of soil, sediment from creek and rock through the largest set of land.

HighGold acquired its initial 50% interest in the properties upon formation of the company through Constantine’s “spin-out” plan of arrangement in 2019. Over the past three years, portions of the significant set of properties have been optioned to Fireweed Zinc and Snowline Gold. Corp. with HighGold receiving certain NSR royalty rights and shares of each company. The purchase agreement announced today gives HighGold 100% ownership of the remaining properties held under the original joint venture, highlighted by the King Tut property which hosts the largest and best soil anomaly in the world. wallet. The four properties included in the purchase agreement, King Tut, Canol, Stan and RGS, are all located within a reasonable distance of the North Canol Road.

Agreement Terms

HighGold, through its wholly owned subsidiary, has entered into a purchase and sale agreement (the “OK”) with Carlin Gold Corp. (there “Saler”) to acquire the properties. As consideration for the acquisition and subject to the TSX Venture Exchange (the “TSXV” )Counterpart shares”). Pursuant to the agreement, the acquired property is subject to a 0.5% net smelter return royalty in favor of the vendor, which may be repurchased by the Company.

In addition to the agreement with Carlin, HighGold has also entered into a purchase and sale agreement with Strategic Metals Inc. (“Strategic”) for the purchase of the Harlow property which is attached to the King Tut property. In consideration for the acquisition and subject to acceptance by the TSXV, the Company has agreed to pay a cash payment of CA$20,000 to Strategic, to issue 20,000 common shares and to grant a royalty of 2 .5% on the net smelter returns on the Harlow property, of which 0.5% can be bought back by the Company for $750,000.

About HighGold

HighGold is a well-funded mining exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) project located in south-central Alaska, USA. The Company also controls a portfolio of quality gold projects in the large gold camp of Timmins, Ontario, Canada, which includes the Munro-Croesus Gold property, renowned for its high-grade mineralization, and the large Golden Mile and Timmins properties. South. HighGold’s experienced Board of Directors and management team are committed to creating shareholder value through the discovery process, prudent capital allocation, and environmentally and socially responsible mining exploration.

Qualified person and quality assurance

Ian Cunningham-Dunlop, P.Eng., Senior Vice President of Exploration for HighGold Mining Inc. and a Qualified Person (“QP”) as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this press release.

On behalf of HighGold Mining Inc.

Darwin Green

President and CEO

For more information, please visit the HighGold Mining Inc. website at www.highgoldmining.com.

Readers are cautioned that the Company has no interest or right to acquire an interest in the adjacent properties and that they are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.

Readers are cautioned that the Company has no interest or right to acquire any interest in adjacent mines or deposits, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties are not indicative of mineral deposits on the Company’s properties or any potential exploitation thereof.

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.

Forward-Looking Statements: This press release contains certain “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “Forward-Looking Statements”). ). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, ” plan”, “expect”, “potential”, “project”, “target”, “timeline”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “might” or “might” occur or be achieved and other similar expressions and includes their negatives. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the potential of King Tut and other gold properties in the Yukon are forward-looking statements that involve various risks and uncertainties. . There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of important factors and assumptions. Important factors that could cause actual results to differ materially from the Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of resource estimates futures, future metal prices, availability of capital and financing on acceptable terms, general economic conditions, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment in a timely manner, accidents or equipment failures, delays in receiving government approvals, unforeseen environmental impacts on operations and costs to address them, and other risks exploration or other risks detailed herein and from time to time in documents filed by the a Company with securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in the forward-looking statements, there may be other factors that cause such actions, events or results differ significantly from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and, therefore, readers are cautioned not to place undue reliance on forward-looking statements.