Roscan Minerals Reports on Geochemical Sampling Program at the Dormaa Project
Toronto, November 6, 2017 - RosCan Minerals Corp. (TSXV: ROS) ("RosCan" or the "Company") is pleased to report that assay results have been received from the recently completed geochemical sampling program for the gold prospective Dormaa Project in Ghana, West Africa. GEOCHEMICAL ASSAY RESULTS RECEIVED ON THE DORMAA GOLD PROJECT
All soil and termite sampling on the Dormaa Project has been completed and assay results have been received, validated and compiled. These results clearly show gold in soil anomalies trending in a north-east, south-west direction, with a fault off-set of the trend in the mid permit. All samples weighed approximately 2 kilograms and were assayed using Bulk Leach Extractable Gold "BLEG" method. They were completed at SGS Laboratory in Tarkwa, Ghana with duplicates and blanks inserted in the sample stream once every 20 samples.
Results for both the soil and the termite sampling are presented on Map #1 below.
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These results, along with prior geochemical results and geological mapping, will be used to design Phase 1 of a multi-phase drill program to test both the soil and termite anomalies. This drill program will consist of air core, reverse circulation and RAB drilling as warranted.
COMMENTARY
"We are pleased with the results from the initial soil and termite mound sampling programs, and we are excited to begin the first phase of drilling on this project. There appears to be coincident soil and termite anomalies in several areas, however there are isolated termite anomalies that seem to be associated with the north-west trending off setting fault structure," stated Greg Isenor, President and CEO of RosCan.
QUALIFIED PERSON
The technical content of this press release has been reviewed and approved by Mr. Greg Isenor, P.Geo. (PGO #0074), a Qualified Person as defined in NI 43-101, and Mr. Warren Bates, P.Geo. (APGO #0211), who is also a qualified person, as defined by NI 43-101, and has reviewed and approved the technical contents of this press release.
ABOUT ROSCAN
RosCan Minerals Corp. is a Canadian gold exploration company focussed on the acquisition of gold properties in West Africa. The Company is currently exploring the promising gold potential of the early exploration stage Dormaa Project in Ghana. RosCan is earning a 50% interest in the Dormaa Project from Pelangio Exploration Inc. ('Pelangio'). For further details about the Dormaa Project and the joint venture with Pelangio, refer to RosCan's press release dated March 6, 2017.
For further information, please contact:
Greg Isenor
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
Email: info@roscan.ca
Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that relate to the Dormaa Project. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the option to earn an interest in the Dormaa Project, the Company's proposed financing activities and its ability to satisfy its project financing and working capital needs, planned use of any proceeds or available funds, objectives, goals or future exploration plans at the Dormaa Project, the business and operations of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: failure of Pelangio to obtain the authorizations for the assignment to it of the Prospecting License; the Company's inability to obtain financing to satisfy the payments necessary for it to earn an interest in the Dormaa Project when due; political and economic risks related to Ghana, title risks, liquidity risks related to the Company and Pelangio, general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board or regulatory approvals; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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.
