TORONTO, Aug. 22, 2017 (GLOBE NEWSWIRE) -- KWG Resources Inc. (CSE:KWG) (CSE:KWG.A) (FRANKFURT:KW6) (“KWG”) and its partners Bold Ventures Inc. (TSXV:BOL) and Fancamp Exploration Ltd. (TSXV:FNC) congratulate Premier Kathleen Wynne and Chiefs Bruce Achneepineskum and Cornelius Wabasse for the announcement yesterday of their agreements respecting access to Marten Falls and Webequie to facilitate development of the Ring of Fire.
Fancamp CEO Peter H. Smith said, “The development vision powerfully articulated by Marten Falls Chief Bruce Achneepineskum has signaled the capital markets that the development of Fancamp’s original high grade Black Horse chromite discovery now has First Nations’ support. This should enable the two joint venture partners to finance a feasibility study which will include the China Railway FSDI feasibility.”
Bold Ventures’ Chairman Richard Nemis added, “Having these access roads is a welcome and substantial step in the development of the Ring of Fire. The creation of infrastructure corridors is crucial to the eventual economics of the development. I think this demonstration of commitment by the Province and the leadership of the local First Nation Communities is a key step in this socio-economic development supported by the Ring of Fire multi- metals mining district.”
KWG CEO Frank Smeenk explained, “We have offered to make the First Nations full partners in our railroad and mining operations. The announcement by Premier Wynne yesterday will enable us to formalize that partnership and assist Marten Falls with an Environmental Assessment of their joint access route.”
About Fancamp:
Fancamp Exploration Ltd. is a Canadian junior mineral exploration company with an exceptional inventory of properties and related assets. Company policy over the years has been, and continues to be, to reduce risk by bringing in participating partners through sales or options. The resulting shares, cash payments and royalties have enabled the generation of income to continue the process and take advantage of opportunity. For further information, please contact Peter H. Smith at 514-481-3172 or: phsmith@outlook.com.
About Bold:
Bold Ventures Inc. works in both Ontario and Québec. In Ontario, Bold has several claim groups in and around the Ring of Fire area of the James Bay Lowlands. The company is also earning an interest in the Koper Lake Project located directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage. In Québec, Bold’s primary focus is on two projects. The Lac Surprise Project is located in west central Québec, approximately 50 km south of Chapais and within the historic Chibougamau-Chapais copper-gold camp. Bold is also exploring its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec. For more information, please visit www.boldventuresinc.com, or contact Bold Ventures Inc. at 416-864-1456.
About KWG:
KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG’s equity in the JV) by KWG funding all exploration expenditures. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The national phase filings are under review in each of those jurisdictions.
Neither 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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.