Vancouver, British Columbia--(Newsfile Corp. - September 16, 2022) - SASQUATCH RESOURCES CORP. (CSE: SASQ) ("Sasquatch" or the "Company") is pleased to announce that it has acquired additional mineral claims (the "Claims") covering 1,232.13 hectares adjacent to the Company's Mount Sicker Property pursuant to an asset purchase agreement dated September 16, 2022 with 911 Mining Co. ("911"). As consideration for the Claims, the Company paid 911 $2,528.40, representing a reimbursement of 911's costs to select the Claims. The Company also announced that an additional mineral claim comprising the Mount Sicker Property which had been held by Mr. Jacques Houle as bare trustee for and on behalf of the Company has also now been formally transferred to the Company. As consideration for the claim, the Company paid Mr. Houle $520.72, representing a reimbursement of the cost to select the claim.
The addition of these new claim areas brings the total claim area under Sasquatch's control to over 3,300 hectares, and either partially or fully encompass three additional known minfile mineral occurrences - the "Hope", "Volcanics", and "Randy North" occurrences - and which further capture two occurrences already partially on the original claims - the Sharon Copper and Lady D occurrences. Links to full descriptions of each of these occurrences, as they appear on the minfile database, are below:
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092B++110 - Hope
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092B++156 - Volcanics
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092B++128 - Randy North
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092B++040 - Sharon Copper
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092B++076 - Lady D
The old and new claim boundaries are illustrated in the map below:
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8796/137496_c777ccd754bf0964_001full.jpg
Peter Smith, the Company's CEO, stated, "The addition of these claims further adds to our already very large and strategic claim assembly on Mt. Sicker. While the original claim areas covered the most significant historical mines, as well as some additional unexplored areas of high interest, these new claims add several more prospective areas. Moreover, and similar to with our original claims, there is also some very positive historical exploration data to use as a starting point, and for us to continue to build on."
911 is controlled by Justin Deveault, a director of the Company, and accordingly the asset purchase agreement is a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.
Jacques Houle, P. Eng., a "Qualified Person" for the purpose of National Instrument 43-101, has reviewed and approved the contents of this news release.
About the Company
Sasquatch Resources Corp. is a mineral exploration company focused on its Mount Sicker Property in southern Vancouver Island, British Columbia. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at ifgsmith@yahoo.ca or by telephone at 778.999.7030.
On Behalf of the Board of Directors
Peter Smith
Chief Executive Officer
778.999.7030
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
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