Brunswick Exploration Expands Lithium Exploraton into Newfoundland and Announces Purchase Agreement in Nova Scotia
May 17 2022 - 7:00AM
Brunswick Exploration Inc. (“
BRW”
or the “
Company”) is pleased to announce that it
has staked multiple claim groups in southern Newfoundland,
comprising three different project areas located between the
communities of Port aux Basques and Rencontre East, Newfoundland.
The total package comprises 9 licenses and 1,327
claims with a total surface area of 33,093 hectares located near
the areas of Port aux Basques, Hermitage and Rencontre East. The
properties contain over 40 mapped S-type pegmatites that have seen
no exploration for lithium. Claims were staked based on preferred
geologic environments, government of Newfoundland till and rock
samples, historical mapping and assessment reports. The project
areas are also in close proximity to the Avalonia / Ganderia
boundary that extends from Piedmont Lithium in the Carolinas to the
Cornish Tin region in the United Kingdom.
Mr. Killian Charles, President of BRW,
commented: “Our targeting formula for systematic lithium and tin
exploration has highlighted the opportunity to further expand into
Eastern Canada. Newfoundland is regarded as highly supportive
jurisdiction for exploration and mining in the world and the recent
discovery of lithium-bearing pegmatites highlights the untapped
potential for critical mineral exploration in a province that has
been historically focused on orogenic gold, iron ore and base
metals. Our initial exploration program in Newfoundland will focus
on prospecting and till sampling which are expected to begin in Q3
2022.”
Nova Scotia Purchase
Agreement
In addition to the claim package already staked
in Nova Scotia (see March 22, 2022 press release), BRW has acquired
an additional property by way of a purchase agreement. The property
is adjacent to Brunswick Exploration’s land package and is located
near New Ross, Nova Scotia. The property was strategically acquired
to assess the potential of historical showings discovered from the
1890’s to 1960’s containing anomalous lithium and tin in diamond
drill holes, grabs and soil samples in areas of greisen and
pegmatitic dykes. BRW will be relogging historical core stored at
the government core storage facility in Stellarton, expanding
historical soil sampling grids and will be applying for permits to
trench and/or drill test the anomalous results. Prospecting, and
soil sampling are scheduled for Q3 2022.
This property contains 60 claims, representing
971 hectares that was purchased from a local prospector. The
purchase allows BRW to acquire a 100% interest in the Property for
a total consideration of $15,000 in cash and 100,000 shares upon
closing of the formal agreement.
BRW has also granted a two percent (2%) NSR on
the license in the purchase agreement. The first half (1%) of the
NSR may be repurchased upon payment of $1,000,000 from BRW to the
seller. The second half (1%) of the NSR may be repurchased upon
payment of $2,000,000.
Qualified Person
The scientific and technical information
contained in this press release has been reviewed and approved by
Mr. Charles Kodors, Manager Atlantic Canada of Brunswick
Exploration. He is a Profession Geologist registered in New
Brunswick, Nova Scotia, Quebec and Newfoundland.
About Brunswick Exploration
The Company is a Montreal-based mineral
exploration venture listed on the TSX-V under symbol BRW. The
Company is focused on grassroots exploration for metals necessary
to decarbonization and energy transition with a particular focus on
lithium, tin and copper. The company is focused on rapidly
advancing the most extensive grassroot lithium exploration claim
package in Eastern Canada.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement on Forward-Looking
Information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Forward-looking information involves
risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation;
fluctuations in commodity prices; delays in the development of
projects; the other risks involved in the mineral exploration and
development industry; and those risks set out in the Corporation’s
public documents filed on SEDAR at www.sedar.com. Although the
Corporation 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 Corporation 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 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 news
release.
Investor Relations/information
Mr. Killian Charles, President (info@BRWexplo.com)
Brunswick Exploration (TSXV:BRW)
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