Vancouver, March 27, 2023 - Gold\'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC Pink: GFTRF) (the "Company" or "Gold'n Futures") reports that it has executed a termination agreement respecting the sale of 90% of the Company's interest in the Brady Gold Project (the "Brady Project"). The Brady Project is located in central Newfoundland and in the same geological belt as the famous Queensway Project of New Found Gold Corp.
"Our Brady Property is Gold'n Futures' beachhead in an important developing gold camp. The project hosts a significant gold zone that occurs on the Dog Bay Line, a regional structural feature known for its association with major gold discoveries. Just as we have done to expand the potential of our Hercules Project, the Company is planning a comprehensive program to assess the historical gold resource and to design a program that should best drive forward the Brady's economics. In these times of rising gold prices, holding and developing assets like the Brady Project will surely benefit our shareholders," commented Stephen Wilkinson, President and CEO.
The Brady Gold Project
The Project is located 50 kilometers ("km") south of the town of Grand Falls - Windsor in central Newfoundland and is approximately 2 km west of the New Found Gold Corp. - Queensway gold project boundary. The Brady property comprises two mineral licenses covering approximately 950 hectares within which the Reid Gold Zone is the main area of historical exploration and known mineralization.
The Reid Gold Zone is classified as an intrusion-hosted style of gold mineralization. Several episodes of diamond drilling totaling 30 diamond drill holes and 6,350 meters ("m") of core have defined the zone over a strike length of 300 m, a width of 250 m and to a vertical depth of 225 m and the zone is reportedly open along strike and to depth.
The last reported diamond drilling on the Reid Gold Zone was in 2011 when Golden Dory Resources Corp. completed an additional 2,638.54 m of core in eight holes (BO-11-23 to 30) and extended BO-09-16 by an additional 147.08 m as the hole had been terminated in mineralization in 2009. The program was reportedly successful and encountered some of the best grades drilled to date including BO-11-25 which intersected 25.45 m grading 1.48 g/t Au including 7.80 m grading 3.62 g/t Au.
A historical mineral resource estimate ("MRE") was prepared in September 2012 ("Giroux, G.H., P.Eng. and Froude, T., P.Geo.. 2013, Form 43-101F, Technical Report for the Reid Zone Resource Estimate, Brady Project") and currently would be regarded as a historical estimate. The MRE produced an Inferred Resource of 9.57 million tonnes averaging 0.56 g/t Au for a rounded total of 173,000 ounces of gold. The above resource was at 0.3 g/t Au cut off, based on 21 holes totaling 4,699 m and 1,486 samples . The deposit remains open down dip and along strike and additional drilling is required to expand the zone.
The historical resource estimate for the Reid Zone is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities:
a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and,
Gold'n Futures is not treating the historical estimate as current mineral resources or mineral reserves.
Establishing a current mineral resource estimate on the Property will require further evaluation, which the Company and its consultants intend to complete in due course.
Gold'n Futures is planning to initiate exploration on the Brady Gold Project during the summer this year. Compiling has commenced on the historical geological, geophysical and geochemical studies with the view of targeting certain unexplained gold and arsenic, and geophysical anomalies that occur outside of the Reid Gold Zone. Fieldwork will begin once the compilation is completed to explore for altered and/or mineralized rocks in float or bedrock.
Coincident with the above, Gold'n Futures will be laying out plans for diamond drilling to infill and expand upon the historical resources of the Reid Zone, and to test any new occurrences discovered by its field programs. Drilling should be initiated upon receipt of the required permits and may be able to occur in or about September 2021.
The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of the Company.
About Gold'n Futures Mineral Corp.
Gold\'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC Pink: GFTRF) is a Canadian based exploration company focused on advancing its Hercules gold project. The Hercules is located 200 km northeast of Thunder Bay, Ont., in the townships of Elmhurst and Rickaby, within the Thunder Bay North Mining District. The Project is in the heart of the Beardmore - Geraldton gold mining camp, the 4th largest gold camp in Ontario and is 40 km west of the Hardrock-Greenstone gold mine. The Property comprises 475 contiguous claim cells (10,052 ha). From the historical work completed on the property, the Company has built an extensive database including reconnaissance grab samples; channel samples; a variety of geophysical surveys; and a drill hole database that includes historical and current drilling totalling in the order of 570 holes and 108 kilometers of available drill core.
For more information, please visit our website at: www.goldnfuturesmineralcorp.com.
On behalf of the Board of Directors
For further information
President and CEO
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the trading of the Company's common shares on the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that the COVID-19 global pandemic will not affect the ability of the Company to conduct the exploration program on the Hercules Gold Project, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Hercules Gold Project, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.
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