VANCOUVER, June 20, 2019 /CNW/ - Goldplay
Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) ("Goldplay" or the
"Company"), announces that further to its news release of
June 17, 2019, it has received
interest above the previously announced private placement of up to
8,800,000 common shares at a price of $0.125 per share for gross proceeds of up to
$1,100,000, and accordingly intends
to increase the amount to be raised under its non-brokered private
placement offering to $1,376,250,
subject to TSXV approval. All other terms of the offering
remain as set out in the Company's June 17,
2019 news release.
Marcio Fonseca, President of the
Company stated: "Under challenging market conditions facing the
mining sector we are pleased with the investors demand in the
private placement considering our financing had no warrants which
indicates support from existing and new shareholders. Mr. Fonseca
continued, Goldplay has enjoyed a successful 2019 exploration
program with new gold discoveries and silver resource expansion and
we look to grow the current indicated – inferred resources with a
drilling program in progress and exploration at the San Marcial
Project".
About Goldplay Exploration Ltd.
Goldplay owns a >250 sq. km exploration portfolio in the
historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay's current focus
includes resource expansion and exploration at the San Marcial Ag –
Au Project, as well as a follow up exploration program at the El
Habal Project.
The San Marcial land package consists of 1,250 ha, located south
of the La Rastra and Plomosas
historical mines in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive,
near-surface high-grade silver, lead and zinc open pit project for
which a NI 43-101 resource estimate was completed by Goldplay in
early 2019 (See News Release dated February
7, 2019). It is a low risk resource development stage
project, fully permitted for all exploration activities and with
support and authorization by local communities to carry out all
necessary work on the project. San Marcial exhibits significant
exploration upside supported by regional exploration programs
recently completed by Goldplay along 6 km mineralized trend with
identification of 8 new Au-Ag exploration targets. Some of these
exploration targets consist of old shallow pits, caved shafts and
historical underground workings in areas with extensive
hydrothermal alteration, hosted by major regional structures. A
current NI 43-101 report on the San Marcial Project is filed on
SEDAR.
The El Habal Project is a drilling stage project. The oxidized
gold mineralized zone outcrops along a series of rolling hills with
evidence of historical shallow underground mining along a 6 km long
prospective corridor. The El Habal Project is located near the
historical gold-silver Rosario Mine which reportedly operated for
over 250 years. Goldplay's team has over 30 years of experience
with senior roles in exploration, financing, and development in the
mining industry, including over ten years of extensive exploration
experience in the Rosario Mining District, leading to previous
successful discoveries. A current NI 43-101 report on the El Habal
Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. Such statements and information reflect the current
view of the Company. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration
Ltd.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this press release.
SOURCE Goldplay Exploration Ltd