VANCOUVER, BC, Jan. 25, 2021 /CNW/ - Capella Minerals Ltd.
(TSXV: CMIL) (FRA: N7D2) (the "Company" or "Capella") is pleased to
advise that, further to the Company's news release of January 7, 2021, the Company has now completed
and closed the sale of its 100% interest in its Argentine
subsidiary, Minera Mariana Argentina
S.A. ("Minera Mariana"), to Cerrado Gold Inc. ("Cerrado")
(the "Transaction"). Minera Mariana
is the owner of the Las Calandrias and Los Cisnes gold-silver
projects, in addition to a portfolio of exploration concessions
located in the Eastern Deseado Massif, Santa Cruz Province, southern Argentina. The
terms of the Transaction were announced in the Company's News
Release dated October 28, 2020.
Under the terms of the Transaction, Capella received 1,125,000
Cerrado shares on closing. The Company transferred 562,500 of the
Cerrado shares to Sandstorm Gold Limited (TSX:SSL;
NYSE:SAND)("Sandstorm") in consideration of the extinguishment of
the annual maintenance payments of the Company owing to Sandstorm
in respect of the Las Calandrias and Los Cisnes projects under a
share purchase agreement dated February 19,
2018 as amended and assigned.
Eric Roth, Capella's President
and CEO, commented today: "With the closing of the sale of
Minera Mariana S.A., Capella has now
become a shareholder of Cerrado and holds indirect exposure to new
exploration success on both its Santa
Cruz (Minera Don Nicolas
gold-silver mine and Las Calandrias gold project) and Brazilian
(Monte do Carmo) gold projects. The Cerrado shareholding also
complements the Company's Ethos Gold Corp. shareholding, which was
acquired through the Savant Lake
earn-in agreement and which also provides Capella shareholders with
exposure to growth outside of discovery success on its own
high-quality portfolio of gold and copper projects."
On Behalf of the Board of Capella Minerals Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President
& CEO
About Capella Minerals Ltd
Capella is engaged in the acquisition, exploration, and
development of quality mineral resource properties in favourable
jurisdictions with a focus on high-grade gold and copper deposits.
The Company's precious metals focus is on the discovery of
high-grade gold deposits on its Southern Gold Line Project in
Sweden, in addition to its active
Canadian Joint Ventures with Ethos Gold Corp. at Savant
Lake (Ontario) and Yamana Gold
Inc. at Domain (Manitoba). The
Company also retains a residual interest (subject to an option to
purchase agreement with Austral Gold Ltd) in the Sierra Blanca
gold-silver epithermal project in Santa
Cruz, Argentina.
The Company's copper focus lies in the discovery of high-grade
massive sulfide (VMS) deposits within district-scale land positions
around the past-producing Løkken and Kjøli copper mines in central
Norway. Field activities are
ongoing on all projects, with the primary focus being to advance
priority targets through the permitting process and onwards to
drilling and discovery.
Cautionary Notes and Forward-looking
Statements
This news release contains forward-looking
information within the meaning of applicable securities
legislation. Forward-looking information is typically
identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such
statements include, without limitation, statements regarding the
future results of operations, performance and achievements of
Capella, including the timing, completion of and results from the
exploration and drill programs described in this release.
Although the Company believes that such statements are
reasonable, it can give no assurances that such expectations will
prove to be correct. All such forward-looking information is
based on certain assumptions and analyses made by Capella in light
of their experience and perception of historical trends, current
conditions and expected future developments, as well as other
factors management believes are appropriate in the circumstances.
This information, however, is subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information. Important factors that could cause
actual results to differ from this forward-looking information
include those described under the heading "Risks and Uncertainties"
in Capella's most recently filed MD&A. Capella does not intend,
and expressly disclaims any obligation to, update or revise the
forward-looking information contained in this news release, except
as required by law. Readers are cautioned not to place undue
reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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SOURCE Capella Minerals Limited