Avidian Gold (the “
Company”;
TSX.V:
AVG) wishes to announce the press release issued on
October 4, 2023 by High Tide Resources Corp. (“
High
Tide”
CSE: HTRC), owned 28% by Avidian,
that preliminary analytical test work completed on its flagship
Labrador West Iron Project
(“
Lab
West”
) indicates the potential to
beneficiate (process) iron ore that will allow High Tide to produce
Direct Reduction (“
DR”) Quality Iron Ore
Pellets. This is significant in that DR Pellets are a
critical step in supplying the raw material that will allow
low-carbon, and eventually zero-carbon, emission steel to be
produced.
Dino Titaro, Chairman of Avidian
states, “We are pleased to see the continued progress
being made by High Tide on its Labrador West Iron Project and the
contribution it may have to sustainable low-carbon steel
manufacturing and as such playing a significant role in the
emerging green steel space. Furthermore, yesterday High Tide
announced it had begun its baseline environmental data collection
at site which is an important first step in the EA process. Our 28%
interest in High Tide currently exceeds our market value and with
its continued progress and growth it will further contribute to the
value Avidian. In the meantime, we continue to seek recognition
value of our Alaskan gold projects through strategic alternatives
in order to advance them.”
Further details on High Tide’s recent press release and on the
Labrador West Iron Project can be found on High Tide’s website at
www.hightideresources.com.
Avidian’s Alaska Gold Properties include the Golden Zone
Project, the Amanita Project and the Amanita NE project. Further
details on these projects can be found on the Company’s website at
www.avidiangold.com.
About Avidian Gold Corp.
Avidian brings a disciplined and veteran team of
project managers together with a focus on advanced-stage gold
exploration projects in Alaska. The Company’s district-scale Golden
Zone property hosts a NI 43-101 Indicated gold resource of 267,400
ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold
resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au) within
the Breccia Pipe Deposit. This resource is exposed on the surface
and was pit constrained for an open-pit mining scenario. The
Technical Report was filed on November 17, 2017, and was authored
by Leon McGarry, B.Sc., P.Geo. and Ian D. Trinder, M.Sc., P.Geo.
Additional projects include the Amanita and the Amanita NE gold
properties which are both adjacent to Kinross Gold’s Fort Knox gold
mine in Alaska, and the Jungo gold-copper property in Nevada.
Further details on the Company and the
individual projects, including the NI 43-101 Technical reports on
the Golden Zone property can be found on the Company’s website at
www.avidiangold.com.
Avidian is a 28% shareholder in High Tide
Resources (CSE: HTRC) which is focused on and committed to the
development of mineral projects critical to infrastructure
development using industry best practices combined with a strong
social license from local communities. High Tide owns a 100%
interest in the Labrador West Iron Project which hosts a NI 43-101
Inferred iron resource of 655 Mt @ 28.8% Fe and is located adjacent
to IOCC’s Carol Lake Mine in Labrador City, NL. This resource
is exposed at surface and was pit constrained for an open-pit
mining scenario. The Technical Report was filed on SEDAR on
April 6, 2023 and was authored by Ryan Kressall M.Sc., P. Geo,
Matthew Herrington, M.Sc., P. Geo, Catharine Pelletier, P. Eng. and
Jeffrey Cassoff P. Eng. High Tide also owns a 100% interest in the
Lac Pegma copper-nickel-cobalt deposit located 50 kilometres
southeast of Fermont, Quebec.
Qualified Person
The technical information contained in this news
release has been approved by Steve Roebuck, P.Geo., President and
CEO of Avidian, who is a Qualified Person as defined in “National
Instrument 43-101, Standards of Disclosure for Mineral
Projects.”
For further information, please contact:
Steve RoebuckPresident & CEOMobile: (905) 741-5458Email:
sroebuck@avidiangold.com
or
Dino TitaroDirectorMobile: (647) 283 7600Email:
dtitaro@avidiangold.com
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 news release.
Forward-looking information
This News Release includes certain
"forward-looking statements" which are not comprised of historical
facts including statements regarding the use of proceeds.
Forward-looking statements include estimates and statements that
describe the Company’s future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”,
“estimates”, “may”, “could”, “would”, “will”, or “plan”. Since
forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are
based on information currently available to the Company, the
Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, the size of the Offering, the
completion and terms of the Offering, the closing of Offering, the
use of proceeds of the Offering, the Company’s objectives, goals or
future plans, statements, exploration results, potential
mineralization, the estimation of mineral resources, exploration
and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could
cause actual results to differ materially from such forward-looking
information include, but are not limited to: the failure to
complete the Offering on the terms provided or at all, the ability
to anticipate and counteract the effects of COVID-19 pandemic on
the business of the Company, including without limitation the
effects of COVID-19 on the capital markets, commodity prices supply
chain disruptions, restrictions on labour and workplace attendance
and local and international travel, failure to receive requisite
approvals in respect of the Offering, failure to identify mineral
resources, failure to convert estimated mineral resources to
reserves, the inability to complete a feasibility study which
recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project
approvals, political risks, inability to fulfill the duty to
accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set
out in the Company’s public documents filed on SEDAR. 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.
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