Vancouver, March 8, 2021 - Manning Ventures Inc.
(the "Company" or "Manning") (CNSX:MANN.CN) (Frankfurt:1H5) is pleased to announce that it has appointed Neil McCallum as special advisor to the Company.
Mr. McCallum is a professional geologist with over 16 years of experience in North America. He has managed a range of projects from grassroots prospecting to resource definition drilling and resource modeling. Over his career, he has become an expert in the compilation of regional-scale metallogenic databases to generate new targets and gain a better perspective for project-scale targeting and acquisition. As a result, his specialty has led him to serve as an independent director for several public companies and launched numerous clients along successful paths to discovery. Stemming from his extensive project and managerial experience, he is extremely proficient in designing budget-specific exploration programs for a variety of commodities within both Canadian and US jurisdictions with the added ability to recognize and develop often hidden potential.
"We are very happy to bring Neil on as a special advisor to Manning and welcome him to the team," said Alex Klenman, CEO of Manning. "Having been involved in multiple major discoveries, Neil's knowledge, skill set, and expertise will be a great benefit to the Company as we continue to move our project base forward. We feel the recently announced acquisition of the Wabush Iron Ore assets in Quebec have significant unrealized value, and we trust Neil's experience will aid us greatly in furthering the development of these projects," continued Mr. Klenman.
"I am pleased to be a part of a team to advance the technical portfolio that Manning Ventures has already assembled. I am looking forward to building value through the development of these excellent iron ore assets in a world-class district," states Mr. McCallum. "Behind me is a diverse team of professionals at the Dahrouge Geological Consulting firm, that I have worked with my entire career, and I will leverage the individual strengths of my team members, when applicable," continued Mr. McCallum.
Company Engages Digital257 for Marketing Campaign
The Company is also pleased to announce it has entered into a consulting agreement dated February 25, 2021 (the "Consulting Agreement") with Digital257 Technologies Inc. ("Digital 257") of Vancouver, British Columbia. Digital257 is a digital marketing firm specializing in investor audience growth and awareness. Pursuant to the Consulting Agreement, Digital257 will help the Company implement a broad marketing program designed to increase corporate branding and recognition. The Consulting Agreement has a term of approximately four (4) months commencing on February 25, 2021, at a cost of CDN$25,000. Following a period of ninety (90) days, either the Company or Digital 257 may terminate the Consulting Agreement upon providing thirty (30) days' written notice. Digital257 is an arm's-length party to the Company and does not currently own any securities of the Company.
About Manning Ventures' Iron Ore Projects (Lac Simone and Hope Lake)
Manning has signed a definitive agreement to acquire 100% of Wabush Iron Ore Inc. ("Wabush") Wabush is the beneficial owner of two mineral properties located in the Province of Quebec, namely the Lac Simone Project, which totals 2,400 hectares, and the Hope Lake Project, which totals 2,477 hectares.
The Lac Simone Property is situated proximal to the south of Fermont, QC, and shares many of the same attributes as other more advanced staged properties nearby; however, it is significantly less developed. The magnetic signature of the Lac Simone Property, along with the regional mapping and historical work, indicates several iron formation horizons are present.
Historical work between 1956 and 1964 by Jubilee Iron Corporation included test pits that produced bulk-sample with an average head grade of 35.51% Fe from iron formation at the north end of the Lac Simone Property. The material was upgraded to a concentrate grade of 66.02% Fe (Ross 1956, Report GM06782A).
The Hope Lake Property is situated approximately 60 km south of Fermont, QC, and is crossed at its western end by a privately owned rail-line which services Arcelor Mittal's iron ore operations in the region. In 2011 and 2013 Champion Iron Mines explored the Hope Lake Property and collected a total of 16 samples of outcrop and reported average grades of 28.7% FeT and 33.7% FeT from each program, respectively, indicating the property hosts high-grade quartz-hematite +/- magnetite iron formation. In 2014, an assessment report completed by MRB & Associates Geological Consultants, on behalf of Champion Iron Mines, stated that "Careful perusal of all available data on the Hope Lake claims suggests that the iron formation that underlies the claim block contains a potential iron-ore resource. The true grade and amount of iron-ore deposits most amenable to mining have yet to be determined, but there exists a demonstrably strong potential for deposits of economic grade" (Langton 2014, Report GM68246).
The Company cautions that no mineral resource, either historical or in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has been completed for the Lac Simone Property or the Hope Lake Property. In addition, the Company has not yet completed the necessary work to independent verify historical data, and therefore, makes no assertions as to the validity of the historical statements with respect to resource or economic potential of the Lac Simone Property or the Hope Lake Property.
Qualified Person Disclosure
Darren L. Smith, M. Sc., P. Geo., of Dahrouge Geological Consulting Ltd., a registered permit holder with the Ordredes Géologues du Québec and Qualified Person as defined by NI 43-101, supervised the preparation of the technical information in this news release.
Manning is a broad-based mineral exploration and development company with a focus in Canada. Manning is currently earning towards a majority interest in the Squid East Silver-Gold Property located in the Yukon, and the Flint Lake Gold Project located in Ontario. In addition, Manning also has signed a definitive agreement to acquire 100% of Wabush. Wabush is the beneficial owner of two mineral properties located in the Province of Quebec, namely the Lac Simone Project, which total 2,400 hectares, and the Hope Lake Project, which totals 2,477 hectares.
For further information contact:
Manning Ventures Inc.
Alex Klenman - CEO
Telephone: (604) 970-4330
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market and business conditions. 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. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. 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.