Toronto, Ontario–(Newsfile Corp. – July 22, 2015) – Crown Mining Corporation, (TSXV: CWM) (“Crown” or the “Company“) is pleased to announce that it has entered into an agreement with Gowest Gold Ltd (“Gowest”), pursuant to which Crown will sell to Gowest a 100% interest in four patented claims totalling 64 hectares located in Whitney Township near Timmins, Ontario.
As consideration for the claims, Gowest will pay $25,000 in cash and issue 1,000,000 common shares of Gowest to Crown. Completion of the proposed acquisition is subject to the approval of the TSX Venture Exchange and the satisfaction or waiver of certain other standard closing conditions.
Crown is focused on advancing its 100% controlled Superior Copper Project in Northeast California. The Superior Project has an inferred mineral resource of 57 million metric tonnes at an average grade of 0.43% with 547 million pounds of contained copper in 2 deposits. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 at Sedar.com.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crowngoldcorp.com.
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.