Toronto, Ontario – November 13, 2020 – Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to provide a corporate update including the immediate appointment of Linda Wrong, P.Geo., CSR-P, to the Company’s Advisory Board. Ms. Wrong is a Professional Geoscientist and Certified Sustainability Practitioner with over 25 years of international experience in the exploration and mining industry, beginning her career as an exploration geologist in the Kirkland Lake Area with Kerr Addison Mines. As former Vice President of Environment and Permitting at Labrador Iron Mines, Linda successfully led the team through the environmental assessment and permitting processes for the James Mine, obtaining the required permits which led to the start of operations within two years of submitting regulatory filings. Following Labrador Iron Mines, Linda assumed senior environmental and sustainability leadership positions at Barrick Gold, Hudbay Minerals, and Lundin Mining. Linda is currently the Global General Manager, Corporate Environment at Glencore International, leading environmental initiatives across their international operations.
Danièle Spethmann, President and CEO of Warrior Gold stated, “We are very pleased that Linda has joined the Warrior Gold team. Linda’s extensive geological and industry expertise across northern Canada, including the Kirkland Lake camp, as well as her familiarity with the provincial and federal Canadian environmental and permitting processes, will support the Company’s efforts to advance the Goodfish- Kirana project.”
The Company is also pleased to provide an exploration update further to its press release of August 20th announcing the initiation of a field mapping program and a collaborative advanced study program led by Dr. Neil Banerjee of Western University’s Department of Earth Sciences and Dr. Lisa Van Loon of LISA CAN Analytical Solutions. To date, 13 drill core samples and 84 pulps have been selected from the Goodfish-Kirana “A” and “C” Zones for a synchrotron mineral cluster analysis. The program will assess the link between alteration and mineralization from these zones, as well as the newly recognized mineralization (“A” Zone NS-FW) identified in the summer drill program. These samples will also be submitted for petrography, X-ray microscopy, and microprobe analysis to provide mineralogy of ore phases and gold textural information.
The Company is currently assessing all recently acquired drill data and additional analytical results (multi-element and screen-metallic) in conjunction with reprocessing historical raw geophysical data in advance of a drill-targeting exercise. In addition, the Company will be initiating an in-situ borehole survey test program consisting of (a) an Optical Televiewer (OTV) which collects a detailed high-resolution oriented image of the borehole wall that provides structural information such as the orientation of veins, lithological contacts, shear fabrics, etc., and (b) a Mineralization Logging Suite (MLS) survey comprised of Induced Polarization (IP), Resistivity and Natural Gamma. This work is expected to be completed by the end of November and will be used to validate previously collected structural data, capture structural information in domains where oriented drilling failed and provide a geophysical signature of mineralization which will aid in future geophysical program planning.
Infrastructure work includes renovating the Company’s new core logging facilities in the town of Kirkland Lake.
On October 22, 2020, the Company held its Annual General and Special meeting of shareholders (the “Meeting”) which was shared online via Zoom. A total of 26,464,815 common shares of the Company were represented, approximately 33% of the total number of shares of the Company issued and outstanding. All matters presented for approval at the Meeting were duly authorized and approved including the election of four management nominees to the board of directors, the appointment of Crowe MacKay LLP as auditors for the ensuing year, the authorizing of the directors to fix their remuneration, and the re-approval of the Company’s 10% stock option plan.
The Company also confirms the extension to the expiry date of 5,322,739 warrants. Further to the Company’s press release of September 23, 2020, the TSX Venture Exchange provided approval for the extension of time for exercise. The approved extension provides for 4,533,239 warrants that were originally scheduled to expire on September 25, 2020, to expire on March 25, 2020, and for 789,500 warrants originally scheduled to expire on November 20, 2020, to expire on May 20, 2021. The Company did not amend the exercise price of $0.15.
Warrior Gold also announces that the Company will be participating at the 121 Mining Investment EMEA virtual investment conference being held November 18th through November 20th. This event connects exploration and mining management teams with investors from institutional funds, private equity groups, family offices, and sector analysts via one-on-one, 30-minute video meetings. Danièle Spethmann, CEO and Melissa Render, Principal Consulting Geologist, will be participating in these meetings. The Company highlights that these sessions will be held live.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange-listed Company that owns the Goodfish-Kirana Property located five km from the town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world’s highest grade greenstone belts with over 200 million ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast-trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
+1 647 344-3433
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.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2020 and the first quarter ended June 30, 2020, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.