VANCOUVER, British Columbia, Nov. 26, 2024 (GLOBE NEWSWIRE) -- GoldHaven Resources Corp. ("GoldHaven" or the "Company") (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) announces the filing of an independent technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The technical report, titled “Magno Project, Liard Mining Division, BC” can be found on the Company’s website here and under the Company’s issuer profile at http://www.sedarplus.ca/.
The Magno Project: A district-scale, polymetallic property located in the Liard Mining Division, adjacent to the historic Cassiar mining district, in Cassiar BC, Canada
The Company, through its wholly owned subsidiary Copper Peak Metals Inc., holds 100% ownership of the Magno mineral property in British Columbia.
Magno property with BC regional geology highlighting historical work and present showings
The Magno property is a district-scale, polymetallic property with 24 mineral tenures located in the Liard Mining Division, adjacent to the historic Cassiar mining district, in Cassiar BC, Canada.
British Columbia is a premier mining jurisdiction, hosting 16 of Canada’s 31 critical minerals and standing as the nation’s largest copper producer. It also holds vast gold resources, with an estimated 280 million ounces of in-ground gold, primarily within polymetallic porphyry deposits.
Northwestern British Columbia is a globally significant mining district, home to some of the richest porphyry copper and gold deposits in the world. This region’s Late Triassic to Early Jurassic tectono-magmatic activity created high-grade, large-scale deposits, positioning it as a major source of copper and precious metals.
The project focuses on the late Cretaceous terranes, known to host significant porphyry deposits like those at Casino and Red Mountain. The exploration team will target granitic bodies beneath promising skarn deposits, aiming to identify the source of mineralized fluids linked to these skarns. The focus will be on extensive geochemical and geophysical exploration to identify potential porphyry sources.
Magno North
The northern portion of the property, Magno North, is located 3km south of the Cassiar Townsite and is primarily where the historic work has been conducted on the property. The Cassiar area is well endowed with various types of mineralization. Aside from the carbonate replacement deposit (CRD) mineralization in the northern part of the Magno Property, notable past producing gold mines including Taurus, Erickson and Table Mountain are located within Slide Mountain/Sylvester/rocks to the east and porphyry molybdenum mineralization occurs in the Cassiar Batholith. Placer gold has been mined in the area since 1874, and the past producing Cassiar-McDame asbestos mine is located nine kilometres to the north.
Exploration has been conducted on the Magno Property since the 1950’s, which has included prospecting, soil and rock geochemistry ground geophysics and drilling. In 1970 and 1971 two adits totalling 522 metres, were emplaced into the Magno West zone.
Website & Corporate Presentation:
The Company is pleased to announce the official launch of its new website and corporate presentation.
The website features a streamlined, modern design and currently highlights the Company’s premier projects, corporate presentation and news. Prospective investors can subscribe to the Company’s newsletter to stay informed and up to date on all business developments.
The presentation follows the website’s new design and showcases highlights from the newly acquired assets. Some highlights include:
- BC is a premier mining jurisdiction, hosting 16 of 31 critical minerals
- Holds the nation’s largest copper producer as well as numerous gold resources at ~280M ounces primarily in polymetallic porphyry deposits
- Two projects, Magno and Three Guardsmen, located on trend of major porphyry systems
- Magno project is district-scale adjacent to historic Cassiar mining district
- Three Guardsmen project is in close proximity to historic mines
- Both projects contain favorable infrastructure including road access
To access and download the corporate presentation please visit the company’s website here.
Non-Brokered Private Placement:
GoldHaven announces a non-brokered private placement of up to 9,500,000 units at $0.05 per unit (the "Offering") for gross proceeds of up to $475,000.
Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole such warrant, a “Warrant”). Each Warrant will entitle its holder to purchase one common share in the capital of the Company (each, a “Warrant Share”) at a price of $0.10 per Warrant Share at any time prior to 24 months following the closing of the Offering.
Insiders may participate in the Offering and finder’s fees may be payable in connection with the Offering.
All securities issued in connection with the Offering will have a four-month and one day hold period in Canada from the closing of the Offering.
Net proceeds of the Offering will be used for exploration expenditures, administrative and general working capital.
Insiders of the Company participating in the foregoing offering will constitute a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25 per cent of the company's market capitalization. Net proceeds of the Offering will be used for general working capital.
None of the foregoing securities have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
R.J. (Bob) Johnston, P.Geo from Engineers & Geoscientists British Columbia is the qualified person for the Company has reviewed and approved the scientific and technical information in this news release.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration Company focused on acquiring and exploring highly prospective land packages in North America. The Company’s projects include the flagship Magno Project, a district-scale polymetallic property adjacent to the historic Cassiar mining district in British Columbia, and the Three Guardsman Project, which exhibits significant potential for copper and gold-skarn mineralization.
On Behalf of the Board of Directors
Bonn Smith, Chief Executive Officer
For further information, please contact:
Bonn Smith, CEO
www.GoldHavenresources.com
bsmith@goldhavenresources.com
Office Direct: (604) 629-8254
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the possible acquisition of the future projects, the Company's expectation that it will be successful in enacting its business plans, 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. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future 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 there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of any future projects in a timely manner, the availability of financing on suitable terms for exploration and development of future projects and the Company's ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, , the inability of the Company to enter into definitive agreements in respect of possible Letters of Intent, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials.
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. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
