Cortus Metals Inc. to Acquire Claims and Data Package as Project and Target Generation Are Well Underway in Nevada
Edmonton, Dec. 18, 2020 - Cortus Metals Inc. (TSXV: CRTS) (the "Company", or "Cortus"), announces that it has entered into a purchase option agreement with Fremont Gold Ltd. (TSXV: FRE) ("Fremont") to acquire 100% interest in 114 unpatented mining claims and a 50% interest in 95 claims that Fremont owns jointly with Intermont Resources, LLC ("Intermont"), collectively known as the Goldrun property, located in Nevada, USA. As consideration for the claims, the Company paid $20,000 in cash and will issue 250,000 common shares, subject to the approval of the TSX Venture Exchange. Cortus also paid Fremont $8,000 in cash to acquire data in relation to the Rock Creek and Roberts Creek properties, both located in Nevada. These acquisitions are in addition to an option the Company holds to acquire from Intermont a further package of wholly and jointly owned claims at Goldrun as well as the Roberts Creek and Rock Creek properties for 200,000 common shares each. Cortus CEO, Sean Mager commented, "We are pleased to have secured the property and data packages at the Goldrun, Rock Creek and Roberts Creek project areas. Field-based exploration is in progress as we evaluate our portfolio of 23 projects, including our new acquisitions. Newly acquired geological, geochemical, and geophysical data, in conjunction with historical data sets, are delineating compelling new targets as we advance these projects to drill-ready status. We look forward to sharing these stories in the weeks ahead."
The Goldrun project spans 209 highly prospective claims located along the southwest extension of the Getchell Trend within the Golconda Basin. The Rock Creek project area is a contiguous land package to the north-northeast of the Goldrun project area, within the same prospective geology and basin as Goldrun, where the Getchell Trend would be intersected by the Battle Mountain-Eureka trend. The Roberts Creek project is located under shallow gravel cover just 5km south of McEwen Mining's Gold Bar Mine, on the flanks of the Roberts Mountains. (See Fig. 1)
Figure 1: Goldrun, Rock Creek & Roberts Creek project areas relative to major trends in Nevada.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6646/70630_33740367b439fa07_001full.jpg
Qualified Person
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors
s/ "Sean Mager"
Sean Mager, Chief Executive Officer
Email: seanm@cortusmetals.com
Telephone: +1.780.701.3215
Cortus Metals Inc. is part of the Metals Group of Companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.
www.metalsgroup.com
Forward Looking Information
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are the risks detailed herein and from time to time in the filings made by the Company with securities regulators including the following: (i) the Company has no commercial operations and has no history of profit; (ii) investment in the common shares of the Company is highly speculative given the unknown nature of the Company's business and its present stage of development; (iii) there is no assurance that the Company will find a profitable undertaking or that it can successfully conclude a purchase of such an undertaking at all or on terms which are commercially acceptable; (iv) the directors and officers of the Company will only devote a portion of their time to the business and affairs of the Company and some of them are or will be engaged in other projects or businesses such that conflicts of interest may arise from time to time; and (v) there can be no assurance that an active and liquid market for the Company's common shares will develop and an investor may find it difficult to resell its common shares. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither 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.
