Noka Resources Appoints New Director
Vancouver, March 16, 2017 - Noka Resources Inc. (TSXV: NX) (9BR1: Frankfurt) (the "Company" or "Noka") is pleased to announce the appointment of Mr. Peter Caldbick as Director of the Company. Mr. Dale Ginn has resigned as Director of Noka to focus on other opportunities. The Board would like to thank Mr. Ginn for his important contributions and wish him well in his future endeavors. Mr. Caldbick has been active in exploration and mining for the past 32 years throughout Northern Ontario, Quebec, Newfoundland and the Northwest Territories in the positions of VP Exploration, mine geologist, and technical consultant. Mr. Caldbick's career has included VP of Exploration for Golden Chalice Resources, VP of Exploration for Liberty Mines Inc., and Chief Geologist for SGX Resources. Mr. Caldbick was recently with the Ontario Government involved in plans and permitting, as well as consultations with First Nations. He was directly responsible for building and managing the exploration teams that led to the discovery of Golden Chalice Resources' Langmuir W4 Nickel deposit, Amador Gold Corp.'s Loveland nickel-copper discovery and Liberty Mine's Hart East nickel deposit.
Of note, Mr. Caldbick was further responsible for a reinterpretation of the Timmins North (Tully) Gold Deposit for SGX which resulted in potentially increasing resources both along strike and at depth of the deposit and was also directly involved in the discovery of the Western Gold Zone in Moneta Porcupine Mine's Golden Highway Project. Mr. Caldbick graduated with a B.Sc. Geology in 1983 from University of Toronto, and with an Environmental Assessment Certificate from Lakehead University in 1994.
"Mr. Caldbick's brings an extensive geological background and proven track record, along with extensive specific knowledge of the Red Lake and Abitibi Gold Belts in Canada. Our recent agreement to acquire the Birch and Uchi Gold Projects adjacent to the Springpole Gold Deposit is the stepping stone to creating a gold focused exploration company targeting large-scale projects of merit to create value for our shareholders," commented Dominic Verdejo, President and CEO of Noka. "We are pleased to have Peter join Noka's Board of Directors and also as part of our Technical Committee to be able to provide guidance on our exploration initiatives in the projects we evaluate and explore, specifically the Tully Gold Deposit where he has significant knowledge.
The Company announces that it has agreed, subject to the acceptance of the TSX Venture Exchange, to settle CDN$27,500 worth of debt to non-arm's length parties by the issuance of 392,857 common shares of the Company at a deemed price of $0.07 per share. All shares issued pursuant to the debt settlement will be subject to the standard four-month regulatory hold periods.
About Noka
Noka Resources Inc. (TSX.V:NX) is a Canadian junior exploration company focused on mineral exploration in North America. The Company is focused on advancing exploration activity on the Birch and Uchi properties adjacent to the Springpole Gold Deposit (controlled by First Mining Finance (FF: TSXV)) in the Red Lake Gold District of western Ontario and the Tully West Property located northeast of Timmins, Ontario. The Company's goal is to secure and explore quality mineral assets in the Americas.
On Behalf of the Board of Noka
Dominic Verdejo
President and CEO
For more information, please contact 1-(855)-584-0258 or dom@nokaresources.com.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.
This press release contains "forward-looking information" that is based on Noka's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Noka's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Noka's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Noka disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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