TSX-V: VEIN | FSE: N071
TORONTO, Sept. 1, 2017 /CNW/ - Enforcer Gold Corp ("Enforcer" or the "Company") (TSX-V: VEIN – FSE: N071) announces that it has terminated its option to acquire an interest in the Duval Lithium Property, located in Quebec.
In July 2016, Enforcer (formerly Natan Resources Ltd.) entered into an option agreement with Critical Elements Corporation ("Critical Elements") (TSX-V:CRE) to acquire up to a 70% interest in the Duval Property. As reported in its February 2, 2017 press release, the Company entered into an extension agreement with Critical Elements providing for a deferral of its first year exploration expenditures on the Duval Property until August 31, 2017. The Company has informed Critical Elements that it no longer wishes to continue with the option agreement.
President & CEO, Steve Roebuck, comments:
"Enforcer Gold has firmly aligned itself as a gold exploration company. Our decision to terminate the Duval option agreement allows us to focus our resources on the advancement of our Montalembert Gold Project."
About Enforcer Gold Corp
Enforcer Gold Corp is earning a 100% interest in the Montalembert Gold Project from Globex Mining Enterprises Inc. (TSX: GMX, FSE: GIMN, OTCQX: GLBXF). The 7,300-hectare property is located 125 km west of Chibougamau in Quebec's prolific Abitibi greenstone belt. The property lies 5 km from a paved highway and hydro-electric power and has easy access to skilled labour, fuel, accommodation and other industry-related services, allowing for relatively low exploration costs. Enforcer has committed over $2.2M to fund its 2017 exploration program that is expected to run uninterrupted through late fall 2017.
Enforcer's President & CEO, Steve Roebuck, PGeo is a qualified person as defined by National Instrument 43-101 and have reviewed and approved the content of this news release.
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 news release.
This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the exploration of its Montalembert Project, the exploration potential and analogous deposit potential of the Montalembert Project and the timing of the Company's exploration programs. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; the ability of the Company to complete transactions on terms announced; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. Enforcer Gold does not undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE Enforcer Gold
For further information: please visit www.enforcergold.com or contact: Steve Roebuck, President & CEO, T: (647) 496-7984, C: (905) 741-5458, E: email@example.com