Vancouver, British Columbia – August 15, 2018 – Discovery Harbour Resources Corp. (TSXV:DHR) (“Discovery Harbour”) is pleased to announce it has entered into a letter of intent to acquire 56 mineral claims contiguous to its Caldera epithermal gold project in Nevada. The acquisition will expand the Caldera project to cover additional gold targets, including extensions of previously identified gold targets. The targets feature structures, a distinct magnetic trough and alteration patterns consistent with the low sulphidation epithermal system Discovery Harbour is focused on at Caldera. Discovery Harbour is currently planning its 2018 work program.
Under the terms of the letter of intent Discovery Harbour has the right to acquire an 100% interest, with no royalties, in the 56 claims by issuing 2,000,000 common shares. The acquisition is subject to a 30 day due diligence period and acceptance by the TSX Venture Exchange.
The Caldera gold project was initially generated by Don Merrick and John Zimmerman of Genesis Gold Corp, a private Utah company specializing in gold exploration in the Western US (www.genesisgoldcorp.com), the foundation of which are the claims first staked by Zsolt Rosta.
Mark Fields, P.Geo., is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.
ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.
Interim President & CEO
Disclaimer for Forward-Looking Information
This news release contains forward‐looking information that involve various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery Harbour, such as statements that Discovery Harbour intends to pursue the Caldera Project and that it will acquire 56 contiguous claims. There are numerous risks and uncertainties that could cause actual results and Discovery Harbour’s plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse market conditions; (ii) exploration results, (iii) the financial position of the Company; (iv) our due diligence may show limited value in the 56 claims, or we may not be able to agree on final sale documentation; or (v) the TSXV may not approve the acquisition. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery Harbour does not intend to update these forward‐looking statements.
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.