Bessor Announces Corporate Update
22 Septiembre 2020 - 7:30AM
Bessor Minerals Inc. (TSXV:
BST)
("
Bessor" or the "
Company") is
pleased to provide a corporate update. Planned exploration
activities were impacted in the wake of COVID-19 precautions.
However, the Company has been able to negotiate changes to the
Redhill Option Agreement that will facilitate ongoing exploration
and has been granted a two-year extension to its MYAB exploration
permit. Additionally, Artemis Gold Inc. acquired the Blackwater
Gold project from New Gold Inc., and with it, Bessor’s 1% Net
Smelter Return (“NSR”) on certain claims in the project.
Redhill Project Bessor and
Homegold Resources Inc. have agreed to modify certain terms of the
2015 Redhill project Option Agreement which will facilitate ongoing
exploration in conjunction with the two-year extension to the MYAB
exploration permit. The modifications are: $5,000 and 300,000
common shares of the Company upon TSX-V acceptance of the September
15, 2020 amendment; $17,500 and 500,000 common shares of the
Company on or before July 8, 2021; $15,000 and 500,000 common
shares of the Company on or before July 8, 2022 and $150,000 of
exploration expenditures before November 15, 2022. The amendments
are subject to TSX Venture Exchange approval.
Key Project NSR Bessor holds a 1%
NSR on certain claims within the Blackwater Gold Project, British
Columbia, recently purchased by Artemis Gold Inc. Artemis purchased
the Blackwater Gold Project from New Gold Inc. for an upfront cash
payment of C$190 million and an 8% gold stream on the
initial 280,000 ounces of gold production, reducing to 4% on all
further production. In August 26, 2020, Artemis announced the
results of a PreFeasibility Study based on a revised development
approach to the Blackwater Gold Project
(www.artemisgoldinc.com).
Golden Eagle Project Bessor plans
to resume exploration in 2021.
BESSOR MINERALS INC.
Kieran Downes, Ph.D., P.Geo. President, CEO
& Director
For further information,
contact: Investor Relations Tel: 250-729-0453 Email:
info@bessorminerals.com Website: www.bessorminerals.com
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 news release.
Forward-Looking Information:
This news release contains certain forward-looking information. All
statements included herein, other than statements of historical
fact, are forward-looking information and such information involves
various risks and uncertainties. There can be no assurance that
such information will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such information. In particular, this news release contains
forward-looking information in relation to: the Golden Eagle
Project, the Redhill Project, and the Key Project NSR (collectively
the “Projects”) and the exploration and development of the
Projects; the exploration and development plans of the Projects. In
the forward looking information contained in this news release,
Bessor has made numerous assumptions, based upon practices and
methodologies which are consistent with the mineral industry, and
based upon current beliefs and information available to Bessor. In
addition, Bessor has assumed: the continued market acceptance of
its business model; the ability of Bessor to raise future equity
financing, if needed, at prices acceptable to Bessor; Bessor’s
current and initial understanding and analysis of the Projects; the
ability of Bessor or third parties to discover viable exploration
targets and the results of exploration on the Projects; anticipated
exploration, costs and results of Bessor's projects; consistent and
favorable commodity prices; and obtaining funds to carry out any
proposed drilling or exploration on Bessor’s Projects. While,
Bessor considers these assumptions to be reasonable, these
assumptions are inherently subject to significant uncertainties and
contingencies. Additionally, there are known and unknown risk
factors which could cause Bessor's observations, actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information contained herein. Known risk
factors include, among others: there is no certainty as to the
actual results of exploration and development or operational
activities; uncertainty as to the availability and terms of future
financing; uncertainty as to timely availability of permits and
other governmental approvals; Bessor may not be able to comply with
its ongoing obligations regarding its properties; the early stage
development of its Projects, general business, economic,
competitive, political and social uncertainties; capital market
conditions and market prices for securities, junior market
securities and mining exploration company securities; commodity
prices, in particular copper, gold, silver, and zinc prices;
competition; changes in the Project’s parameters as plans continue
to be refined; accidents and other risks inherent in the mining
industry; lack of insurance; delay or failure to receive board or
regulatory approvals; changes in legislation, including
environmental legislation, affecting Bessor; conclusions of
economic evaluations; and lack of qualified, skilled labour or loss
of key individuals. A description of additional risk factors used
to develop such forward-looking information that may cause actual
results to differ materially from forward-looking information can
be found in Bessor's disclosure documents on the SEDAR website at
www.sedar.com. Although Bessor has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking information. Bessor does not undertake to update
any forward-looking information except in accordance with
applicable securities laws.
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