Latest news with #DugbeGoldProject
Yahoo
3 days ago
- Business
- Yahoo
Pasofino Gold Announces Its Attendance at the Mining Investment Event in Quebec City, Quebec from June 3-5, 2025
Toronto, Ontario--(Newsfile Corp. - May 30, 2025) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that it will be in attendance for the Mining Investment Event taking place in Quebec City, Quebec, from June 3rd to June 5th 2025, inclusive. Chief Executive Officer, Mr. Brett Richards, commented: "We are looking forward to the Mining Investment Event this coming week in Quebec City, and welcome Issuers and investors interested in hearing the new Pasofino Gold story, and its path to production." ABOUT THE DUGBE GOLD PROJECT The 2,078 km2 Dugbe Gold Project (the "Project") is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area. A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. These deposits have a combined Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and filed on SEDAR+ at and on the Company's website. In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon. At this and several of the other prospects no drilling has been carried out to date. In 2019, Hummingbird signed a 25-year Mineral Development Agreement ("MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project. QUALIFIED PERSONS STATEMENT Scientific or technical information in this disclosure that relates to exploration results was prepared and approved by Mr. Andrew Pedley. Mr. Pedley is a consultant of Pasofino Gold Ltd.'s wholly-owned subsidiary ARX Resources Limited. He is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP) and is as a Qualified Person under NI 43-101. ABOUT PASOFINO GOLD LTD. Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (VEIN). Pasofino, through its wholly-owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest). For further information, please visit or contact: Brett A. RichardsChief Executive Officer & DirectorT: +1 905 449 1500E: brett@ Neither the 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. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, risks related to investor engagement and interest, the results of business operation, the ability to advance the Dugbe Gold Project, the results of exploration activities; the results of the strategic review process, the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
Yahoo
5 days ago
- Business
- Yahoo
Pasofino Gold Announces Closing of Non-Brokered Private Placement for Gross Proceeds of Approximately C$5.0 Million
Toronto, Ontario--(Newsfile Corp. - May 28, 2025) - Pasofino Gold Limited (TSXV: VEIN) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that it has closed its non-brokered private placement (announced April 30, 2025) of units (each, a "Unit") at a price of C$0.50 (or US$0.36) per Unit, for gross proceeds of approximately C$5.0 million (US$3.6 million) (the "Offering"). The Offering closed on May 27, 2025. Each Unit consists of one common share in the capital of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.75 for a period of 24 months following the issue date of the Units. Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants if the closing price of the Company's common shares on the TSX Venture Exchange equals or exceeds C$0.90 for fifteen (15) consecutive trading days, to the date which is 30 days following the dissemination of a news release announcing the acceleration. A total of 10,000,000 common shares in the capital of the Company and 5,000,000 Warrants were issued pursuant to the Offering. All securities issued are subject to a 4 month hold period expiring September 28, 2025. In connection with the Offering, the Company paid finder's fee of C$57,312 in cash. The Company received a lead order from the Chief Executive Officer, Brett Richards, for 400,000 Units for gross proceeds of approximately C$200,000. Mansa Resources Limited, an affiliate of Hummingbird Resources plc ("Hummingbird"), the Company's 50.78% shareholder, subscribed to maintain Hummingbird's majority interest, acquiring 5,176,000 Units for gross proceeds of C$2,588,000. The total percentage of the Offering taken by insiders is 55.76% for gross proceeds of C$2,788,000. The subscription by and issuance of Units to all insiders is considered a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of insiders' participation. The net proceeds of the Offering will be used to advance the Dugbe Gold Project and for general working capital purposes. Chief Executive Officer, Mr. Brett Richards, commented: "Thank you to all subscribers who participated in the financing. We now embark on the process of updating the 2022 feasibility study in an effort to better reflect the current gold price environment and the current costs associated with building the Dugbe Gold Project. We are entering into an exciting period, and I look forward to presenting the results of the update as soon as possible." The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. ABOUT THE DUGBE GOLD PROJECT The 2,078 km2 Dugbe Gold Project (the "Project") is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area. A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. These deposits have a combined Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and filed on SEDAR+ at and on the Company's website. In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon. At this and several of the other prospects no drilling has been carried out to date. In 2019, Hummingbird signed a 25-year Mineral Development Agreement ("MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project. QUALIFIED PERSONS STATEMENT Scientific or technical information in this disclosure that relates to exploration results was prepared and approved by Mr. Andrew Pedley. Mr. Pedley is a consultant of Pasofino Gold Ltd.'s wholly-owned subsidiary ARX Resources Limited. He is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP) and is as a Qualified Person under NI 43-101. ABOUT PASOFINO GOLD LTD. Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (VEIN). Pasofino, through its wholly-owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest). For further information, please visit or contact: Brett A. RichardsChief Executive Officer & DirectorT: +1 905 449 1500E: brett@ Neither the 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. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, risks related to the issuance and exercise of the Warrants, including the potential acceleration of their expiry in certain market conditions, the ability to obtain all requisite regulatory approvals including the final approval of the TSX Venture Exchange, the ability to apply the proceeds as intended, the results of business operation, the ability to advance the Dugbe Gold Project, the results of exploration activities; the results of the strategic review process, the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES To view the source version of this press release, please visit Sign in to access your portfolio
Globe and Mail
30-04-2025
- Business
- Globe and Mail
Pasofino Gold Announces Non-Brokered Private Placement for Gross Proceeds of Approximately C$5.0 Million
Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - Pasofino Gold Limited (TSXV: VEIN) (FSE: N07A) (" Pasofino" or the " Company") is pleased to announce a non-brokered private placement of units (each, a " Unit") at C$0.50 (or US$0.36) per Unit for gross proceeds of approximately C$5.0 million (US$3.6 million) (the " Offering"). Each Unit consists of one common share of the Company (each, a " Unit Share") and one half of one common share purchase warrant (each whole warrant, a " Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (each, a " Warrant Share") at a price of C$0.75 for a period of 24 months following the issue date of the Units. Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants if the closing price of the Company's common shares on the TSX Venture Exchange equals or exceeds C$0.90 for fifteen (15) consecutive trading days (the " Acceleration Period"), to the date which is 30 days following the dissemination of a news release announcing the acceleration. The net proceeds of the Offering will be used by the Company in connection with the advancement of the Dugbe Gold Project, updating of the 2022 feasibility study and for general working capital purposes. The Company has received a lead order from the Chief Executive Officer, Brett Richards, for 400,000 Units for gross proceeds of approximately C$200,000. Nioko Resources, the Company's 50.7% shareholder has subscribed for its pro-rata share of the Offering for 5,070,000 units, for gross proceeds of C$2,535,000. The total percentage of the Offering taken by insiders is 54.7% for gross proceeds of C$2,735,000. The subscription by and issuances of Units to all insiders is considered a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of insiders' participation. The Offering is expected to close on or about May 13, 2025. Chief Executive Officer, Mr. Brett Richards, commented: "The recent Co-operation and Support Agreement (" Agreement") with our major shareholder Hummingbird Resources plc/Nioko Resources has completely aligned both the development strategy and funding strategy of the Dugbe Gold Project. The timing of the Agreement and commencement of the update to the 2022 feasibility study is well positioned in what might be the "hottest" gold price environment in history, with gold reaching a record of over US$3,500 per ounce on April 22, 2025. With positive momentum on several fronts, the Dugbe Gold Project is well positioned to deliver long-term shareholder value, as it nears the completion of the project study and permitting stage in the next 12 months, and the Company evaluates its strategic options to finance and construct the project into commercial production." The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Appointment of Arnaud Lelouvier to the Board Pasofino is pleased to announce that it has appointed Mr. Arnaud Lelouvier as the nominee of Hummingbird to the Board of Directors of the Company. Mr. Lelouvier has over 30 years of continuous experience in mergers, acquisitions, and financial management. He is the Director and founder of Aura Capital Partners, based in Toronto and Mauritius, where he advises companies in the African mining sector. He created the Markam Group in Mauritius in 2024, and previously served as Chairman and Managing Partner of AMT Logistics. In 2003, he founded SI Capital Partners, a merchant bank based out of Abu Dhabi, which develops also its own Private Equity group invested in 6 countries in different sectors as Retail, Automotive, Mining, Food industry or Aviation. He was the former CEO of Editions Moreux between 1995 and 2004, and previously carried out geopolitical analysis for the World Bank in more than twenty African countries. In addition, he was a member and vice president of both the Comité des Investisseurs Francais en Afrique and the Forum Francophone des Affaires. Since 2010, Mr. Lelouvier served as board member of Delta Automotive in Finland and SI Food Dodoni in Greece, Executive Director of SI Retail in Middle East (Auchan Francise), Executive Director of Kings & Balducci's (37 Food retail stores in New York and New Jersey), Executive Chairman of AMT Logistics in Switzerland, Director of OMC Resources in Tanzania (gold mine), and Director of SI Capital Partners. Mr. Lelouvier holds an MBA from HEC (France). Oumar Toguyeni, Non-Executive Chairman of Pasofino, commented: " On behalf of the Pasofino board of directors, I welcome Arnaud to the board, as we look forward to working with him on advancing the Dugbe gold project and growing Pasofino." ABOUT THE DUGBE GOLD PROJECT The 2,078 km 2 Dugbe Gold Project (the " Project") is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area. A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. These deposits have a combined Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101") and filed on SEDAR+ at and on the Company's website. In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon. At this and several of the other prospects no drilling has been carried out to date. In 2019, Hummingbird signed a 25-year Mineral Development Agreement (" MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project. QUALIFIED PERSONS STATEMENT Scientific or technical information in this disclosure that relates to exploration results was prepared and approved by Mr. Andrew Pedley. Mr. Pedley is a consultant of Pasofino Gold Ltd.'s wholly-owned subsidiary ARX Resources Limited. He is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP) and is as a Qualified Person under NI 43-101. ABOUT PASOFINO GOLD LTD. Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (VEIN). Pasofino, through its wholly-owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest). For further information, please visit or contact: Brett A. Richards Chief Executive Officer T: +1 905 449 1500 E: brett@ Neither the 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. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the ability to successfully complete the Offering, the timing and results of project study and permitting, the ability to obtain all requisite regulatory approvals including the final approval of the TSX Venture Exchange, the ability to apply the proceeds as intended, the results of business operation, the results of exploration activities; the results of the strategic review process, the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Yahoo
10-02-2025
- Business
- Yahoo
Pasofino Gold Wins Top African Gold Project at the 2025 Mining Indaba Dealmakers Den
Toronto, Ontario--(Newsfile Corp. - February 10, 2025) - Pasofino Gold Limited (TSXV: VEIN) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that it was awarded first place as the Top African Gold Project at the 2025 Mining Indaba Dealmakers Den, in Cape Town, South Africa. Chief Executive Officer, Brett A. Richards, who presented at the 2025 Mining Indaba stated: "I am very pleased that Pasofino Gold has been honoured with the award, and I think it is a testament to the many caveats which make this a truly special project. Firstly, the jurisdiction of Liberia in West Africa is one of the most under-explored mining jurisdictions in West Africa, while having the highest potential in Africa to host the next large gold mining complex. The opportunities in Liberia as a key mining jurisdiction are boundless, having a supportive and collaborative government and participative local communities. Liberia is quickly becoming a premier jurisdiction of choice to build and operate mines. Secondly, the Pasofino team has done a tremendous job bringing this project through its stages of development to its completed feasibility study and are prepared for final permitting, approvals, and social engagement. Our next steps will be to prepare a 12-month plan towards commencing a construction decision, which will include: structured project financing, site preparations, feasibility study optimizing and updating infrastructure work on roads, bridges and the Port of Greenville. Finally, I have always attested that great projects will find a way to get built in any gold price environment. Today we are fortunate to have some strong wind in our sails in an effort to unlock the potential of the Dugbe Gold Project for all stakeholders." Mining Indaba Dealmakers Den Judge Navesh Ragoonanthun of Peterhouse Capital, awards the 2025 African Mining Indaba Dealmakers Den Top Gold Project to Pasofino Gold's CEO Brett Richards. To view an enhanced version of this graphic, please visit: ABOUT THE DUGBE GOLD PROJECT The 2,078 km2 Dugbe Gold Project (the "Project") is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area. A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. These deposits have a combined Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 and filed on SEDAR+ at and on the Company's website. In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon. At this and several of the other prospects no drilling has been carried out to date. In 2019, Hummingbird signed a 25-year Mineral Development Agreement ("MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project. ABOUT PASOFINO GOLD LTD. Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSXV (VEIN). Pasofino, through its wholly owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest). For further information, please visit or contact: Brett A. Richards, Chief Executive Officer and DirectorT: 905 449 1500E: brett@ Neither the 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. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "indicate", "may", "will", "should" and other similar words or statements that certain events or conditions "could" or "might" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the ability to execute its strategic initiatives; the ability to advance the Dugbe Gold Project; the ability to apply the proceeds as intended; the ability to obtain requisite regulatory approvals, including from the TSX Venture Exchange and relevant authorities; the results of exploration and business activities; fluctuations in commodity prices; geopolitical risks; the availability and timing of external financing on acceptable terms; operational and logistical challenges; and the risks outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. To view the source version of this press release, please visit Sign in to access your portfolio
