MONTREAL, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) is pleased to announce the sale to Goldseek Resources Inc. (“Goldseek”) (CSE: GSK) of its Selbaie Property. The Selbaie Property, located 12 kilometres east of the past producing copper-zinc-silver-gold Selbaie Mine in Québec consists of six (6) mining claims covering a portion of the eastern flank of the Brouillan pluton and adjacent volcanic rocks. The last previous recorded work was surface geophysical surveying conducted by LaSalle Exploration Corp. in 2015.
“We are pleased to complete this transaction with Goldseek on the Selbaie Property. The Harfang team is focused on advancing our core gold projects in James Bay and northeastern Ontario and gearing up to accelerate activities on our lithium projects in the James Bay region. We wish the Goldseek team all the best and look forward to hearing about their progress”, said Ian Campbell, President and Chief Executive Officer of Harfang.
Transaction Terms
Pursuant to an agreement dated February 6, 2023 between Harfang and Goldseek, Goldseek has agreed to pay to Harfang $5,000 in cash, issue to Harfang 600,000 common shares (the “Goldseek Shares”) at a deemed price of $0.04 per Goldseek Share and grant to Harfang a 2% net smelter returns royalty, half of which may be bought-back at any time for $1,000,000. The Goldseek Shares will be subject to the applicable hold periods in accordance with securities laws in Canada and the policies of the Canadian Securities Exchange.
Qualified Person
The technical information in this news release was prepared and approved by François Huot, P.Geo, Vice President Exploration of Harfang, who is a non-independent qualified person for the technical disclosure as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Harfang Exploration Inc.
Harfang Exploration Inc. is well financed with approximately $8.24 M in the treasury as of October 31, 2022 and is a technically driven mineral exploration company with the primary mission to discover ore deposits in Québec and Ontario. Harfang is managed by an experienced team of industry professionals with a proven track record of success, controls a portfolio of highly prospective projects and has a strong financial position. Harfang is dedicated to best practices through engagement with all stakeholders and commitment to the environment.
On behalf of the Board of Directors and for further information, please contact:
Ian Campbell
President and Chief Executive Officer
Tel: 647 680-3820
Email: icampbell@harfangexploration.com
Web: www.harfangexploration.com
Cautionary Statement Regarding Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Harfang believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Harfang disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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.
