TSX VENTURE EXCHANGE: FE
U.S. 20-F Registration: 000-29870
OTC BULLETIN BOARD: ASKDF
FRANKFURT STOCK EXCHANGE: DFL
VANCOUVER, March 26, 2018 /CNW/ - First Energy Metals Limited ("First Energy" or the "Company") is pleased to provide an update on the Company's exploration activities regarding the Phyllis Cobalt Property.
The exploration team has successfully located historical trenching locations on the Phyllis Cobalt Property. The team is currently sampling an 80 meter wide alteration zone and analyzing the structural and lithological contacts to further understand the deposit. The alteration zone will be analyzed in detail through the use of a handheld XRF device. This will qualitatively determine the zone's potential for Co, Cu, Ni, PGEs, and Au. The Company will then proceed with channel sampling and prospecting to select samples for assay.
All technical information in this news release was reviewed and prepared under the supervision of Mr. Alexander Pleson, P.Geo., an independent Qualified Person to First Energy Metals Ltd.
The Company would also like to announce the resignation of Ernest Peters as Chief Executive Officer and Director. The Company thanks Mr. Peters for his contributions toward the development of the Company. The Company has appointed Gurminder Sangha as Chief Executive Officer of the Company to replace Mr. Peters, effective immediately.
In addition, the Company is pleased to announce the appointment of Dr. Muzzaffer Sultan as VP Exploration and Director of First Energy. Dr. Sultan brings extensive experience in mineral exploration, 3D modelling, surface and underground exploration of mineral properties. Dr. Sultan holds a Ph.D in Geology and Masters of Science from the University of South Carolina.
On behalf of the Board of Directors of
FIRST ENERGY METALS LIMITED
President and CEO
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of the Canadian securities laws. Forward-looking information in this news release includes statements about share consolidation.
In connection with the forward-looking information contained in this news release, First Energy has made numerous assumptions regarding, among other things: TSXV regulatory approval for planned transactions. While First Energy considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause First Energy's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: regulatory approval may not be obtained on a timely basis, or at all; the Company may require additional working capital sooner than predicted; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing.
A more complete discussion of the risks and uncertainties facing First Energy is disclosed in First Energy 's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and First Energy disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
SOURCE First Energy Metals Limited
For further information: Gurminder Sangha, President and Chief Executive Officer, First Energy Metals Limited, Telephone: 604-632-9602, Email: [email protected]