Vancouver, British Columbia, August 28, 2017 - Rotation Minerals Ltd. (“Rotation” or the “Company”) (TSXV: ROT) is pleased to announce that it has entered into a binding letter of intent (“LOI”) with Jaxon Minerals Inc. (“Jaxon”) (TSXV: JAX) to option a 75% interest in the Stock property to Jaxon.
The Stock property covers 4,127 hectares and is located just west of Ascot Gold’s Dilworth property, and south of Rotation’s Scottie Gold Mine in the heart of British Columbia’s famed Golden Triangle. The Stock property has been explored intermittently since 1921, with numerous tunnels and crosscuts, one extending 300 metres. Mineralization on the property includes silver, gold, tungsten, copper, lead and zinc in beds of a siltstone complex. The most recent assessment report from 1980 indicated that silver mineralization “is widespread in the sedimentary sequence – every one of the 201 samples taken in 1980 contained silver values.”
Note: The historical sample information quoted above is not National Instrument 43-101 compliant and should not be relied upon.
The terms of the LOI include Jaxon spending $375,000 on the property over four years. Jaxon will also participate in the Company’s private placement by purchasing 1,333,334 units at $0.15 per unit, with each unit including a common share and a share purchase warrant exercisable at $0.25 for two years. The LOI is subject to acceptance by the TSX Venture Exchange.
Brad Rourke, President of Rotation stated “Rotation is pleased to have attracted a quality partner in Jaxon Minerals Inc. to advance the Stock property. This agreement will free up Company resources to focus on the Scottie and Four J’s properties.”
The area known as the Golden Triangle of British Columbia is among the world’s most prolific mineralized districts, host to past and current mining operations including Johnny Mountain, Red Mountain, Snip Mine, Premier Mine, Golden Bear, and Valley of the Kings. The Golden Triangle has reported mineral resources (past production and current resources) in total of 67 million oz of gold, 569 million oz of silver and 27 billion pounds of copper.
Ed Kruchkowski, PGeo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the Company. Mr. Kruchkowski is a director of the Company.
The Company has the option to earn up to a 70% interest in the 4-J’s property and an agreement to purchase a 100% interest in the Scottie property, both located in the Golden Triangle area of British Columbia.
Further information on Rotation can be found on the Company’s website at www.rotationminerals.com and at www.sedar.com, or by contacting Bradley Rourke, President and CEO at (250) 877-9902.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
FORWARD LOOKING STATEMENTS
This release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.