Vancouver, British Columbia – January 4, 2019 – Discovery Harbour Resources Corp. (TSXV:DHR) (the “Company” or “Discovery Harbour”) is pleased to announce that it has completed the acquisition of 56 mineral claims (the “Extension Property”) contiguous to its 100% optioned Caldera epithermal gold project in Nevada. The acquisition will expand the Caldera project to cover additional gold targets, including extensions of previously identified targetsthat feature structures, a distinct magnetic trough and alteration patterns consistent with the low sulphidationepithermal system that is the Company’s focus at Caldera.
Under the agreement terms as announced December 20, 2018, Discovery Harbour will acquire a 100% interest in the Extension Property, subject to a 2% net smelter royalty (”NSR”) retained by the Vendor that the Company can purchase for $1,000,000 for each one percentage point of the NSR. The Vendor is a non-arm’s length party by virtue of holding beneficial ownership of over 10% of the common shares of the Company.
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 United States (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 and Chief Executive Officer
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. 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; or (iii) the financial position of the Company. 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.