Origen Strategic Investment Purchased by Mariner Resources
Vancouver, September 8, 2020 - Origen Resources Inc. (CSE: ORGN) (the "Company" or "Origen") is pleased to announce that its strategic investment in Exploits Gold Corp. ("Exploits") (see Company news release dated September 1, 2020) will be exchanged for 3,666,667 common shares of Mariner Resources Corp. (CSE: RNR) ("Mariner") on a one-for-one basis, following Mariner's recently announced acquisition of 100% interest in Exploits Gold Corp. ("Mariner-Exploits Acquisition")
President, Blake Morgan comments, "We are pleased to see our strategic investment in Exploits so swiftly returning such a substantial value-add. In addition, the conversion of our holdings in Exploits to a large stake in Mariner Resources, a dynamic new exploration company in the highly prospective Exploits Subzone of central Newfoundland and Labrador, marks significant potential to increase the value of the investment even further. We look forward to carrying this momentum as our team readies for our Phase two of exploration on the Company's projects in the renowned Golden Triangle of northwest British Columbia."
On the close of the Mariner-Exploits Acquisition, Mariner will be the largest mineral claim holder in Newfoundland, with its core mineral land holdings predating the 2019 New Found Gold Corp discovery.
Michael Collins, a director of Origen, has been appointed a Director and President & CEO of Mariner Resources Corp. in conjunction with the completion of the Mariner-Exploits Acquisition.
About Exploits
Exploits Gold Corp. holds a strategic land position, with its core mineral land holdings predating the 2019 New Found Gold Corp. discovery. The two projects are known as the Mt. Peyton and Jonathan's Pond gold projects. The Mt. Peyton and Jonathan's Pond properties are located two and twenty-five kilometers west and northeast respectively of New Found Gold's Queensway Discovery. Both projects are easily accessible via the Trans Canada Highway and together consist of 939 mineral claims encompassing a land area totalling 235 km² in the Exploits Subzone Camp.
Exploits Highlights
- The Jonathan's Pond project hosts visible gold bearing quartz veins up to 3m wide, with a current strike length of 450m and open in all directions.
- The Mt. Peyton project is situated on a 15 km strike length airborne magnetic anomaly, coincident with highly anomalous float grab samples and elevated lake sediment samples.
- Both projects contain high priority exploration targets and are fully permitted for mechanical trenching, geochemical sampling, and geophysical surveys.
Technical disclosure in this news release has been reviewed and approved by Michael Collins P. Geo. a Director and shareholder of Origin Resources Inc., a Qualified Person as defined by National Instrument 43-101.
About Origen
Origen is an exploration company engaged in generating, acquiring and advancing base and precious metal properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia and recently acquired a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia.
On behalf of Origen,
Blake Morgan
President
For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63405
