Rocky Shore Announces Closing of Hemlo Area Claims Sale
The Transaction included all Ontario claims owned by the Company, including the claims subject to an earlier option agreement (see press release dated August 29, 2022), which was terminated on closing of the Transaction. The Company retains a variable-rate royalty of up to 0.50% Net Smelter Returns on the claims; the rate per claim will depend on the preexisting royalty burden on such claim, and Barrick has the right to buy back 50% of the royalty by making a one-time cash payment of CAD$500,000.
Qualified Person
Ken Lapierre, P.Geo., President and CEO of the Company, is a Qualified Person, in accordance with the Canadian regulatory requirements as set out in National Instrument 43-101, has reviewed and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About Rocky Shore Gold Ltd.
Rocky Shore Gold is a Canadian-based mineral exploration company focused on gold discoveries in central Newfoundland on its 100% owned Gold Anchor Project. The district scale grass roots project is the second largest (greater than 1,200 square kilometres) property within an emerging Central Gold District. It is strategically located on trend to major gold discoveries and recent gold deposits. Numerous gold bearing faults are within the project limits including the highly prospective Appleton and JBP Fault Corridors.
For more information please contact:Ken Lapierre, President & CEORocky Shore Gold Ltd.T: +1 (647) 678-3879E: ken@rockyshoregold.com
Cathy Hume, CEOCHF Capital MarketsT: +1 (416) 868-1079 x 251E: cathy@chfir.com
Forward-Looking Statements
This news release contains 'forward-looking information' within the meaning of applicable Canadian and United States securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects', or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'does not anticipate', or 'believes' or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', or 'will be taken', 'occur', or 'be achieved'. Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including, but not limited to the advancement of the Company's properties. The forward-looking information is based on reasonable assumptions and estimates of the management of the Company at the time such statements were made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Rocky Shore to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration; future commodity prices; changes in regulations; political or economic developments; environmental risks; permitting timelines; capital expenditures; technical difficulties in connection with exploration activities; employee relations; the speculative nature of mineral including the risks of diminishing quantities of grades of resources, contests over title to properties, the Company's limited operating history, future capital needs and uncertainty of additional financing, and the competitive nature of the mining industry; the need for the Company to manage its future strategic plans; global economic and financial market conditions; uninsurable risks; and changes in project parameters as plans continue to be evaluated. Although Rocky Shore has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the forward-looking information contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, Rocky Shore cannot assure shareholders that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. Rocky Shore does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.Sign in to access your portfolio
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