WHM White Metal Resources Corp

White Metal to Begin Exploration on its Little Joanna Gold Property Located Near the Sokoman Gold Discovery

Thunder Bay, Ontario--(Newsfile Corp. - April 16, 2019) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce the following:

Little Joanna Gold Property

White Metal has received its work permit allowing White Metal to begin its 2019 exploration program on its recently optioned Little Joanna Gold Property (the "Property"), located in Central Newfoundland. Planned exploration work includes a regional soil sampling survey designed to test for continuity and additional gold-bearing structures and a detailed soil sampling survey over the main gold showing from which selected grab samples by the Property vendor assayed up to 734 g/t Au (23 oz/ton Au).

The regional soil sampling survey is planned to extend up to seven kilometres away from the Property's main gold showing. In addition, the regional soil survey will cover an area in which historical work by Noranda (1980s) reported up to 44 g/t Au in boulder samples and outlined two significant basil till sample anomalies of 1.15 g/t Au and 5.2 g/t Au. Soil sampling is expected to commence in the coming weeks, followed by a prospecting program and subsequent trenching on favourable targets. The Property, one of several recently optioned properties (see the Company's press release dated October 23, 2018), is located approximately 25 kilometres northeast of the town of Glenwood, is accessible by supply roads, and comprises 280 claim units covering 7,000 hectares.

The Property is situated approximately 45 kilometres northeast of Sokoman's Moosehead Gold project. In July 2018, Sokoman Minerals Corp. (previously Sokoman Iron, herein referred to as "Sokoman') announced their high-grade gold-bearing discovery hole, reporting an assay result from drill core of 44.96 g/t Au over 11.90 metres (from 109.00 to 120.90 metres).

Williams and Williams West

White Metal work permit applications are also being prepared for the Williams and Williams West properties, also located near Sokoman's Moosehead Gold project. Applications are expected to include prospecting and soil sampling as a Phase 1 work program. A planned Phase 2 program is designed to consist of trenching and drilling of any favourable targets outlined by the Phase 1 program.

The Williams and Williams West properties are located nearby and to the south of the town of Glenwood, Newfoundland, approximately 30 kilometres southeast of Sokoman's Moosehead Gold property. The Williams and Williams West properties are also in close proximity to the Clarks Brook property where Sokoman recently drilled 3.74 g/t Au over 3.10 metres, including 14.73 g/t Au over 0.60 metres (see Sokoman News Release dated April 5, 2018).

Startreck Gold

Work permits will also be submitted by White Metal for the Startreck Gold property to include relocating all previous trenching and drill hole locations and follow up work on the numerous gold showings that have not had any follow up since their original discovery. The Startrek Gold property is located about 20 kilometres west of the Town of Gander, Newfoundland, and was acquired because of the abundant gold showings found on the Property. Previous operator, Rubicon Minerals Corp., performed prospecting, trenching, and drilling on the Startreck Gold property from 2001 to 2005, leaving numerous gold and antimony showings yet to be evaluated. A Phase 2 work program is planned to include follow-up trenching and drilling of any favourable targets developed from the Phase 1 program.

Non-Brokered Financing

White Metal also announces a proposed non-brokered private placement of up to a maximum of $300,000 to fund working capital requirements by way of an issue of units. Each unit will be priced at $0.05 per unit and each unit will consist of one (1) common share and one (1) share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at $0.10 for a period of two years from the closing of the private placement. The offering is only open to accredited investors in Canada and will be subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the TSX Venture Exchange and other customary conditions. All of the securities sold pursuant to the offerings will be subject to a four-month plus one day hold period from the date of closing. Finder's fees may be payable on all or a portion of the private placements and will consist of 7% cash and 7% Broker's Warrants, where applicable. In respect of the units, the Broker Warrant will be exercisable for $0.10 for a unit consisting of one common share and one (1) share purchase warrant exercisable at $0.10 for a period of two years from closing.

Although the Company fully expects to spend the funds as stated there may be circumstances, for sound business reasons, where a reallocation of funds may be necessary. There is no material change about the Company that has not been generally disclosed.

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.),

Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp. is a junior exploration company exploring in Canada. For more information please visit the Company's Web Page at .

On behalf of the Board of Directors of White Metal Resources Corp.

"Jean-Pierre Colin"
Jean-Pierre Colin, President, CEO and Director

For further information contact:

Jean-Pierre Colin
President, CEO & Director
(416) 573-4300

or

Michael Stares
Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836

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.

To view the source version of this press release, please visit

EN
16/04/2019

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on White Metal Resources Corp

 PRESS RELEASE

White Metal Receives Exploration Licence Renewal on its Okohongo Coppe...

White Metal Receives Exploration Licence Renewal on its Okohongo Copper-Silver Project, Namibia THUNDER BAY, Ontario, Sept. 16, 2021 (GLOBE NEWSWIRE) -- White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to announce that it has received a two (2) year renewal for its Exclusive Prospecting Licence (“EPL”) 7071 (“EPL7071”), setting the new expiry date to 12 June 2023. The 95%-owned EPL7071, referred to as the Taranis (Okohongo) Copper-Silver Project (the “Project” or “Property”), covers about 13,825 hectares and is located in the...

 PRESS RELEASE

White Metal Partner Noronex Commences 10,000 Metre Drilling Program at...

White Metal Partner Noronex Commences 10,000 Metre Drilling Program at the DorWit Copper-Silver Project, Namibia THUNDER BAY, Ontario, Sept. 09, 2021 (GLOBE NEWSWIRE) -- White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to provide an update from its Australian joint venture partner Noronex Limited (ASX: NRX) (“Noronex”). Noronex has informed White Metal that it has commenced a 10,000 metre drilling program at the DorWit Copper-Silver Project (the “Property” or “Project”) in Namibia (). The Namibian Project comprises three Excl...

 PRESS RELEASE

White Metal JV Partner Leocor Gold Plans Phase 1 Work Program on the S...

White Metal JV Partner Leocor Gold Plans Phase 1 Work Program on the Startrek Gold Property, Central Newfoundland THUNDER BAY, Ontario, Sept. 01, 2021 (GLOBE NEWSWIRE) -- White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to announce that its joint venture partner Leocor Gold Inc. (“Leocor”) has received its exploration approvals for ground geophysics, line cutting, GT Probe drilling (100 holes), and RAB drilling (10 holes), on the Startrek Property (the “Property” or the “Project”), located about 20 km east of the town of Gand...

 PRESS RELEASE

White Metal Expands the Ellen Zone with Step-Out Drilling Returning 3....

White Metal Expands the Ellen Zone with Step-Out Drilling Returning 3.68 g/t Au over 10.5 m, Including 19.9 g/t over 1.5 m, Tower Stock Gold Project, Ontario THUNDER BAY, Ontario, Aug. 24, 2021 (GLOBE NEWSWIRE) -- White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to announce that it has received the assay results from the first three diamond drill holes from the Phase 2 drilling program on its Flagship Tower Stock Gold Project (the “Project” or “Property”). The three holes were designed to test both the strike and down-dip ext...

 PRESS RELEASE

White Metal Resources Engages CHF Capital Markets

Thunder Bay, Ontario--(Newsfile Corp. - July 29, 2021) - White Metal Resources Corp. (TSXV: WHM) (FSE: CGK1) (OTC Pink: TNMLF) ("White Metal" or the "Company") is pleased to announce that it has retained CHF Capital Markets Inc. ("CHF"), a highly respected Canadian investor relations and capital markets firm, as its representative."The team here at White Metal has been tremendously engaged in the advancement of our promising mining projects, both in Canada and Namibia. We give nothing short of our best in all working initiatives, whether it be our flagship Tower Stock Gold Project in Thunder B...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch