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VANCOUVER, BC, April 30,
2024 /CNW/ - Kootenay Resources Inc.
("Kootenay" or the "Company") announces that further
to its March 13, 2024 and
April 26, 2024 press releases
regarding receipt of conditional approval to list on the TSX
Venture Exchange (the "Exchange"), the Company has received
final approval to list the Company's common shares on the Exchange.
Under the policies of the Exchange, the Company will be classified
as a Tier 2 Mining Issuer.
The Company expects that its common shares will commence trading
on the Exchange at the opening of the market on May 1, 2024
under the symbol "KTRI".
Appointment of Christopher Curran to Board of
Directors
The Company is also pleased to announce that Mr. Christopher Curran has been appointed as a new
member of the Company's board of directors, as well as the audit
committee of the Board, effective immediately. James McDonald, President & CEO stated "We
are pleased to have Chris join the board as we commence trading on
the TSXV. Chris brings over 20 years of experience in
business development, communications and capital markets that
includes working with several publicly listed junior mining and
exploration companies."
About Kootenay Resources
Inc.
Kootenay Resources Inc. is an exploration company actively
engaged in the exploration and discovery of tier one mineral
deposits in British Columbia,
Canada. The Company was formed as a spin-out of Kootenay
Silver Inc. (TSXV: KTN) in which prospective Canadian assets were
transferred to Kootenay Resources Inc. The transaction was
completed in October 2021, Kootenay
Silver Inc. currently holds ~5.4 million common shares of Kootenay
Resources Inc. Exploration efforts are focused on first the Moyie
Anticline project and second the Nechacko Plateau region of
B.C.
The Moyie Anticline region of the Purcell basin has long been
considered prospective for the discovery of tier one deposits as
the Purcell basin is host to tier one deposits such as the
world-famous Sullivan deposit, Kimberley,
BC, the Couer D'Alene silver belt in Idaho and famous Butte copper porphyry in
Montana. In the fall of 2021,
Kootenay commissioned two new innovative surveys to aid in the
discovery of a tier one deposit. The first was a regional style MT
survey designed to find deep conductive zones. Research has
demonstrated deep conductive feeders appear to be feeders to
shallower large deposits around the world. Deposits such as Olympic
Dam and well known gold camps in Canada's greenstone belts such as Red Lake. A survey comprising 86 MT stations
dispersed across the Moyie Anticline Project area successfully
identified a number of deep conductors. In 2023 Kootenay followed
up with an additional 47 MT stations across the project. The
surveys identified 7 conductors with tier one size potential. The
second innovative approach was to conduct limonite sampling in
fractures. The idea is limonites which are oxidized sulfides will
reveal which areas are carrying metals of interest like silver,
lead, zinc and copper and thus where tier one deposits may have
formed at depth. Over 7000 samples in over 600 sites were analysed
with a portable XRF machine.
The results of these surveys combined with known mineralized
showings and trends have defined the first 4 high priority follow
up areas to advance to drilling.
These two innovative approaches were developed by Dr.
Fred Cook, Craig, Tom, Mike and Sean Kennedy and Dr. Tom Richards. We believe if the Moyie Anticline
project hosts a tier one deposit this approach will discover
it.
In addition to the Moyie Anticline Project, Kootenay Resources
is advancing several early-stage gold-silver targets in the Nechako
region of central British
Columbia. Currently two properties from Kootenay's
six-project portfolio are under option and being explored by
Thompson River Metals Company, a fully owned subsidiary of Centerra
Gold Inc.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
the contents of this news release.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
"Forward-looking information" includes, but is not limited to,
statements with respect to the activities, events or developments
that the Company expects or anticipates will or may occur in the
future. Generally, but not always, forward-looking information and
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the
negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, statements regarding
the commencement of trading of the Company's common shares on the
Exchange. Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks
relating to regulatory approvals. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. These forward looking
statements are made as of the date of this press release, and,
other than as required by applicable securities laws, the Company
disclaims any intent or obligation to update publicly any forward
looking statements, whether as a result of new information, future
events or results or otherwise.
SOURCE Kootenay Resources Inc.