South Star Mining Corp. Announces Warrant Extension
February 25, 2021 - South Star Mining Corp. ("South Star" or the "Company") (TSXV:STS) (OTC:STSBF) announced in a press release dated February 11, 2021 its intention to apply to the TSXV Venture Exchange ("TSXV") to obtain an extension of the expiry date of 4,050,000 outstanding share purchase warrants (the "Warrants"). The Company is pleased to announce that the TSXV has approved the extension of the term of the Warrants for an additional 2 months from the original expiry date of Feb. 28, 2021. The new expiry date will be April 28, 2021. Effective March 1, 2021, the Warrants will be subject to an accelerated expiry provision such that the extended term of the warrants will be reduced to 30 days if the closing price of the Company's shares exceeds $0.19 for any ten consecutive trading days after February 28, 2021. Each warrant is exercisable into one common share of the Company at an exercise price of $0.15. All other terms of the warrants will remain the same.
ABOUT SOUTH STAR MINING CORP.
South Star Mining Corp. is focused on the selective acquisition and development of near-term production projects in Brazil. STS is driven to create fundamental value in the battery metals sector for clients and investors with real projects that have strong intrinsic financial and operating metrics and that can be profitable throughout the resource cycle. STS has an experienced executive team with a strong history of discovering, developing, building and operating profitable mines in Brazil.
The Santa Cruz Graphite Project, located in Southern Bahia, is the first of a series of battery metals projects that will put into production. Brazil is the second largest graphite producing region in the world with over 80 years of continuous mining. The Project has at-surface mineralization in friable materials, and successful large-scale pilot plant testing (>30t) has been completed. The results of the testing show approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2022, pending financing.
To learn more, please visit the Company website at http://www.southstarmining.ca.
For additional information, please contact:
Mr. Richard Pearce
Chief Executive Officer
For additional information, please contact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Mr. Dave McMillan
Chairman
Email: davemc@telus.net
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.
