Toronto, April 6, 2021 - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce a new monthly production and sales record for the month of March 2021, and prospects for increasing production and sales of Blue Quartzite in Q2, 2021. Exotic Blue Quartzite is produced and sold from the Company's wholly owned operating quarry in the State of Minas Gerais, Brazil.
During the month of March 2021 VMC (a wholly owned subsidiary of Stakeholder) produced and sold 180 m3 of exotic Blue Quartzite to high-end commercial customers in Brazil and Europe. Block sales resulted in gross revenues for the month of March, 2021 of 2 Million Reais ($450,000 CAD).
One buyer of the Company's exotic Blue Quartzite stone has committed to buying 100 m3 per month and the Company has restricted sales to 4 regular domestic and international customers. VMC expects to support production and sales of more than 240 m3 per month in Q2, 2021 with resulting monthly revenues exceeding 2.6 Million Reais ($600,000 CAD), or $1,800,000 CAD for the quarter.
"Market interest in the Company's exotic Blue Quartzite material has been better than first projected. We have engaged competent operators and provided production incentives which have resulted in high levels of motivation and achievement, while simultaneously supporting safe worksite practices. Strong demand for our exotic Blue Quartzite material has resulted in buying groups from Brazil and Europe requesting recurring block material orders. We now anticipate being able to achieve annual production and sales of 3,000 m3 resulting in annualized gross revenues exceeding 30 Million Reais ($6,800,000 CAD)," stated Marcus Chase, President of VMC.
"The success of our cash flow generating exotic Blue Quartzite operation in Brazil enables us to conduct non-dilutive exploration on the Company's Ballarat Gold Project in the Yukon Territory of Canada, and to consider further value accretive initiatives for the Company." Stated Christopher Berlet, President & CEO of Stakeholder.
Stakeholder Gold Corp. is a junior resource company developing cash flow from the production and sale of exotic Blue Quartzite at its wholly owned Blue Quartzite quarry in Minas Gerais, Brazil.
Stakeholder Gold Corp. also has 100% ownership of the Ballarat Gold Project which holds 7,442 hectares of claims located in the heart of the White Gold District of the Yukon Territory, Canada. The Company's Ballarat Project claim group includes an area extending over 10 km of the road construction route for the Northern Gateway Road which is being built to service the White Gold District. The Ballarat claim group also includes title to 10 claims located within the nearby Coffee Project which is being developed by Newmont Corp. south of the Yukon river.
For further information please contact:
Stakeholder Gold Corp.
Telephone: (416) 525 - 6869
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events, or developments that the Corporation believes, expects, or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward- looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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