VANCOUVER, BC, Oct. 9, 2024
/CNW/ - Stuhini Exploration Ltd. (the "Company" or
Stuhini") (TSX-V: STU) and (OTCQB: STXPF) wishes
to provide a corporate update on 2024 exploration activities at its
Que and Big Ledge projects and corporate matters pertaining to its
Ruby Creek Project (Ruby Creek).
Big Ledge Project
Stuhini exploration crews conducted
a geological mapping, prospecting and soil sampling program at its
Big Ledge Project, located just south of Revelstoke, British Columbia. The program
focused on a less explored 2 km section of the ~14 km
mineralized strike length east of Pingston Creek. The resultant
zinc soil anomaly is coincident with the historic IP geophysics and
extends through the explored section; however, the overburden is
believed to be much deeper, resulting in a less pronounced anomaly.
The 100% owned Big Ledge zinc Project is road accessible and covers
5,093 hectares.
Que Project
Stuhini personnel conducted a targeted
soil sampling and prospecting program at its Que Project located in
Yukon, Canada. The program's
purpose was to ground truth two geophysical
anomalies outlined by a previous magnetic and electromagnetic
survey by the Company. The Que Project is road accessible from
Yukon Hwy #6 (Canol Road) and is located 70 km north of Johnson's
Crossing on the Alaska Highway. The Project is early stage and
is 4,243 hectares in size. Stuhini has an option to acquire 100% of
the Que Project, subject to a 1% Net Smelter Royalty.
In other Company news, Stuhini President and CEO David O'Brien recently attended the IMOA
(International Molybdenum Association) AGM which was held in
Tokyo, Japan. Several meetings
were held to discuss the Company's 100% owned Ruby Creek Molybdenum
Project. The Company has received unsolicited expressions of
interest in its Ruby Creek project and has had discussions which
are continuing regarding strategic alternatives for the Ruby Creek
project.
Lastly, over the past 12 months, the Company has been
investigating new project opportunities. The process is ongoing,
and thus far, several projects have been reviewed by Company
personnel. As new projects are taken on, the Company will seek
strategic alternatives for some of the projects it currently
holds.
The geological content of this news release has been reviewed
and approved by Andrew Wilkins, P.
Geo., a qualified person as defined under the terms of National
Instrument 43-101.
About Stuhini Exploration Ltd.
Stuhini is a mineral
exploration company focused on exploration and development of
precious and base metals properties in western Canada and the southwest United States. The Company's portfolio of
exploration properties includes the flagship Ruby Creek Property,
14 km east of Atlin, BC; the Que
Project, 70 km north of Johnson's Crossing, Yukon; the South Thompson Nickel Project, 35
km northwest of Grand Rapids,
Manitoba; the Big Ledge Property, 57 km south of
Revelstoke, BC; and the Lindsay
Project in southeast Arizona.
Forward-Looking Statements
This news release contains
"forward–looking information" within the meaning of Canadian
securities laws, which may include, but are not limited to
statements relating to potential interest in its Ruby Creek
Molybdenum Project, investigation of other mineral exploration
projects and potential drill targets at the Que Project. All
statements in this release, other than statements of historical
facts, that address events or developments that the Company expects
to occur, are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Factors
that could cause the actual results to differ materially from those
in forward-looking statements include regulatory actions,
fluctuations in metal and commodity prices, market prices, failure
to obtain permits, and continued availability of capital and
financing, and general economic, market or business conditions. In
particular, there is no guarantee that exploration work, as
proposed, or otherwise, will be completed on the Property or that
the Option will be exercised. Such forward-looking information
reflects the Company's views with respect to future events and is
subject to risks, uncertainties and assumptions, including those
set out in the Company's prospectus. Investors are cautioned that
any such statements are not guarantees of future performance and
actual results or developments may differ materially from those
projected in the forward-looking statements. There can be no
assurance that any forward-looking statements or information will
prove to be accurate as actual results, and future events could
differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance
on forward-looking statements or information. Except as required by
applicable securities laws, the Company undertakes no obligation to
update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
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.
SOURCE Stuhini Exploration Ltd.