VANCOUVER, BC, Oct. 9, 2024 /CNW/ - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSX-V: STU) and (OTCQB: STXPF) wishes to provide a corporate update on 2024 exploration activities at its Que and Big Ledge projects and corporate matters pertaining to its Ruby Creek Project (Ruby Creek).
Big Ledge Project
Stuhini exploration crews conducted a geological mapping, prospecting and soil sampling program at its Big Ledge Project, located just south of Revelstoke, British Columbia. The program focused on a less explored 2 km section of the ~14 km mineralized strike length east of Pingston Creek. The resultant zinc soil anomaly is coincident with the historic IP geophysics and extends through the explored section; however, the overburden is believed to be much deeper, resulting in a less pronounced anomaly. The 100% owned Big Ledge zinc Project is road accessible and covers 5,093 hectares.
Que Project
Stuhini personnel conducted a targeted soil sampling and prospecting program at its Que Project located in Yukon, Canada. The program's purpose was to ground truth two geophysical anomalies outlined by a previous magnetic and electromagnetic survey by the Company. The Que Project is road accessible from Yukon Hwy #6 (Canol Road) and is located 70 km north of Johnson's Crossing on the Alaska Highway. The Project is early stage and is 4,243 hectares in size. Stuhini has an option to acquire 100% of the Que Project, subject to a 1% Net Smelter Royalty.
In other Company news, Stuhini President and CEO David O'Brien recently attended the IMOA (International Molybdenum Association) AGM which was held in Tokyo, Japan. Several meetings were held to discuss the Company's 100% owned Ruby Creek Molybdenum Project. The Company has received unsolicited expressions of interest in its Ruby Creek project and has had discussions which are continuing regarding strategic alternatives for the Ruby Creek project.
Lastly, over the past 12 months, the Company has been investigating new project opportunities. The process is ongoing, and thus far, several projects have been reviewed by Company personnel. As new projects are taken on, the Company will seek strategic alternatives for some of the projects it currently holds.
The geological content of this news release has been reviewed and approved by Andrew Wilkins, P. Geo., a qualified person as defined under the terms of National Instrument 43-101.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company's portfolio of exploration properties includes the flagship Ruby Creek Property, 14 km east of Atlin, BC; the Que Project, 70 km north of Johnson's Crossing, Yukon; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property, 57 km south of Revelstoke, BC; and the Lindsay Project in southeast Arizona.
Forward-Looking Statements
This news release contains "forward–looking information" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to potential interest in its Ruby Creek Molybdenum Project, investigation of other mineral exploration projects and potential drill targets at the Que Project. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, fluctuations in metal and commodity prices, market prices, failure to obtain permits, and continued availability of capital and financing, and general economic, market or business conditions. In particular, there is no guarantee that exploration work, as proposed, or otherwise, will be completed on the Property or that the Option will be exercised. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's prospectus. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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.
SOURCE Stuhini Exploration Ltd.
For further information please contact: David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd., Email: [email protected], Phone: (604) 835-4019, Web: www.stuhini.com
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