Whitehorse Gold has entered into a loan agreement with right of first refusal to acquire a high-grade gold project in Guinea
Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (“Whitehorse Gold” or the “Company”) is pleased to announce that it has entered into a loan agreement (“Loan Agreement”) with a private Guinean gold mining company which holds certain mining concessions and licenses located in Guinea (the “Properties”), in exchange for a four-month exclusive right to negotiate a stock option agreement to acquire a 100% interest in the Guinean gold mining company (the “Borrower”).
Pursuant to the loan agreement, the Company advanced a loan of US$250,000 to the borrower, primarily for the payment of government taxes on title to the properties. As security for the loan, the borrower has pledged its shares in the wholly owned subsidiary which holds title to the properties. The loan has a two-year term and 5% interest.
ABOUT WHITEHORSE GOLD CORP.
Whitehorse Gold is a mining exploration company focused on its 170 km2 Gold project located in southern Yukon, approximately 55 km south-southwest of Whitehorse. The project hosts the advanced-stage deposits of Skukum Creek and Goddell, as well as the former high-grade gold mine of Mt. Skukum, all of which remain open for expansion, as well as other untested mineralized occurrences . The project infrastructure includes an all-weather access road, a 50-person camp, approximately 6 km of underground development and a previously operating 300 tpd plant and associated support facilities. From 1986 to 1988, underground operations by a former operator at Mount Skukum saw 233,400 tonnes of ore mined and processed to recover approximately 79,750 ounces of gold (Total Energold Corporation, 1989). The company is also reviewing other mining assets in jurisdictions that provide year-round access.
On behalf of Whitehorse Gold Corp.
signed “Gordon Neal”
Gordon Neal, CEO and Director
For more information, please contact:
Investor Relations, Whitehorse Gold Corp.
Email: [email protected]
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.
DISCLAIMER – FORWARD-LOOKING STATEMENTS
Certain of the statements and information contained in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statement or information that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, using words or expressions such as “expects”, “is planned”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “timeframes”, “potentials” or variations thereof or indicating that certain actions, events or results “could”, “could”, “would”, “could” or “would” be taken, occur or be achieved, or the negative form of any of these similar terms and expressions) are not statements of historical fact and may be statements or Forward-Looking Information Forward-looking statements or information relate to, among other things: the price of gold and other metals ; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the adequacy of the capital of the Company to fund the operations of the Company; estimates of the Company’s capital expenditures; timing of receipt of permits and regulatory approvals; the availability of funds from production to finance the Company’s operations; and the access to and availability of financing for future construction, use of the proceeds of any financing and development of the Company’s properties.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limited to social and economic factors. impacts of COVID-19; risks related to: fluctuations in commodity prices; calculation of resources, reserves and mineralization and recovery of precious and base metals; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; property title ; property interests; joint venture partners; the acquisition of commercially exploitable mining rights; funding; recent events and market conditions; economic factors affecting the Company; the timing, estimated amount, capital and operating expenditures and economic returns of future production; the integration of future acquisitions into the Company’s existing business; competition; political operations and conditions; regulatory environment in Canada and Guinea; environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; exchange rate fluctuations; Assurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control of financial information; and bring actions and enforce judgments under United States securities laws.
This list is not exhaustive of factors that could affect the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and the actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety risks, uncertainties and other factors, including, without limitation, those mentioned in the Company’s Annual Information Form for the year ended December 31, 2021 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information.
The Company’s forward-looking statements and information are based on management’s assumptions, beliefs, expectations and opinions as of the date of this press release, and except as required by applicable securities laws, the Company assumes no obligation to update – forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other event affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
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