Kelowna, British Columbia--(Newsfile Corp. - July 1, 2020) - Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG) ("Crystal Lake" or the "Company") announces that it has granted 1,000,000 stock options, subject to regulatory approval, to employees, directors, and consultants of the Company, pursuant to the terms of the Company's Stock Option Plan, all of whom are part of the new additions to the team. The options are exercisable at $0.165 per share, expire five years from the date of grant, and 50% vesting immediately while 50% in twelve months from grant date of June 30th, 2020.
About Crystal Lake Mining
Crystal Lake is one of the leading exploration companies focused in the heart of British Columbia's prolific Golden Triangle. The company's highly qualified geological team has assembled a wealth of information generated by numerous companies each working small pieces of the district-scale property that Crystal Lake has assembled through staking and optioning. Building on prior results, the company's geological team made several significant discoveries during its initial exploration program in 2019. A gold-rich copper porphyry outlined on the Burgundy Trend has striking similarities to large-scale deposits in the region, including the Red Chris deposit for which Newcrest last year paid US$807 million for a 70% interest. Chachi, a newly discovered area, generated high-grade samples of gold, silver, lead, zinc, nickel, and cobalt over a 9km x 4km area with associated geophysical responses. Diamond drilling in 2019 at the NW Zone demonstrated that the historic gold resource remains open laterally and to depth.
Work in 2020 will seek to further extend the known gold deposit and to investigate the large-scale discovery potential of multiple targets and deposit types.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
"Cole Evans"
President/CEO
Email:
For further information please contact:
Investor Relations
Sean Kingsley - Director of Communications
Tel: +1 (604) 440-8474
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that 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 the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither 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.
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