Mistango Expands Omega Gold Property by 60%
Highlights:
Omega hosts a global resource of 585 Koz of gold.
Omega now comprises 15 leased claims and 10 patents.
Property size increased from 257 hectares to 400 hectares.
Strategic Growth Asset in a world-class District Close to MAG Silver, Agnico Eagle and Gold Candle.
Toronto, Ontario--(Newsfile Corp. - May 20, 2025) - Mistango River Resources Inc. (CSE: MIS) ("Mistango" or the "Company") is pleased to announce that it has entered into a purchase agreement to acquire 100% of the McVittie Property ("McVittie") immediately adjacent to its 100%-owned Omega Gold Project ("Omega") to the north.
McVittie Property now consolidated into the Omega Gold Project
McVittie is located in south-central McVittie Township, in the Larder Lake Mining Division of Ontario, approximately 25km east of Kirkland Lake, Ontario. McVittie comprises eight patents with surface and mining rights, and is contiguous with the northern portion of Omega. The acquisition has increased Omega's property size from 257 hectares to 400 hectares.
Figure 1) Link to Map of McVittie Project, Expanding Omega
Figure 2) Map of Major Resources of the Kirkland Lake / CLLB District
Omega is Central to the Cadillac-Larder Lake Break consolidation strategy
Omega historically produced ~215,000 ounces grading 5.41 g/t gold between 1926-1928 and 1936-1947. Omega currently hosts an open pitable resource, including a Measured and Indicated Resource of 4.92 Mt grading 1.39 g/t gold (219.8 Koz), and an Inferred Resource of 4.69 Mt grading 2.43 g/t gold (365.4 Koz). Having a global resource of 585 Koz gold, Omega is a strategic growth asset in a multi-million-ounce gold district that is primed for consolidation—the Cadillac Larder Lake Break ("CLLB")1.
The prolific CLLB, and the larger Kirkland Lake district, host some of the highest-grade gold resources globally. Immediately adjacent to and surrounding Omega, MAG Silver's Larder Project hosts a historical indicated resource 388 Koz grading 2.39 g/t gold, and a historical inferred resource of 933 Koz grading 4.21 g/t gold2. Near the town of Kirkland Lake, Ontario (30km west of Omega), the Cadillac Break hosts Agnico Eagle's Macassa Mine, one of the world's highest grade gold deposits, producing at an average grade of 15 g/t gold3. Located 10km east of Omega, in the town of Virginia town, the historical Kerr Addison mine produced 11 Moz at 9 g/t gold, and currently hosts an indicated resource of 3.31 Moz grading 1.5 g/t gold, and an inferred resource of 2.36 Moz grading 1.3 g/t gold4. North of Omega and the CLLB, Agnico Eagle is developing their Upper Beaver deposit, which hosts 3.6 Moz gold5.
QP StatementThe technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director of Mistango River Resources, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." For the exploration undertaken by Mistango, all assay batches are accompanied by rigorous Quality Assurance procedures, including the insertion of standards and blanks.
Transaction DetailsMistango is acquiring the McVittie Property from Jubilee for $25,000 and a 3% NSR on McVittie, with Mistango having the right to purchase 1% of the 3% from the vendor for $1,000,000.
This transaction is subject to Canadian Securities Exchange (CSE) and TSXV approvals.
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To Speak to the Company directly, please contact:Stephen Stewart, ChairmanPhone: 416.644.1567Email: info@oregroup.ca www.mistango.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedarplus.ca.
1 Refer to Mistango River Resources Inc. May 10, 2013 Technical Report on the Omega Property on sedarplus.ca2 Refer to Gatling Exploration September 2, 2021 Updated Mineral Resource Estimate on the Larder Gold Project on sedarplus.ca3 Refer to Agnico Eagle's news release dated Feb 13, 2025 on sedarplus.ca 4 Refer to Gold Candle's Corporate Presentation dated February 2025 on goldcandle.com5 Refer to Agnico Eagle's Detailed Mineral Reserve and Resource Data on www.agnicoeagle.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252627
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