/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
SASKATOON, SK, Oct. 1, 2020 /CNW/ - Omineca Mining and Metals
Ltd. (TSXV: OMM) ("Omineca" or the "Company"),
announces that the TSX Venture Exchange has accepted the previously
announced option agreement (the "Option Agreement") with
CanAlaska Uranium Ltd. ("CanAlaska") to acquire a maximum
50% interest in CanAlaska's Mouse Mountain copper/gold project,
encompassing 291 hectares located approximately 15 kilometers due
west of the Wingdam project. In accordance with the terms of the
Option Agreement the Company has issued 300,000 Omineca common
shares to CanAlaska. Omineca may now earn up to a 50% interest in
the Mouse Mountain project by completing a 2,000-metre drill
diamond program within 12 months of the approval of the TSX Venture
Exchange.
The Mouse Mountain project is located in British Columbia's Quesnel Trough, which is
remarkably well endowed with alkalic porphyry Cu-Au deposits,
including the Mount Polley, New Afton and Copper Mountain mines. As
an adjunct to the Wingdam gold exploration project, Mouse Mountain
furthers Omineca's commitment to gold exploration in the Cariboo
Mining District. Previous drilling, trenching and sampling at Mouse
Mountain has identified it as an alkalic porphyry Cu-Au project
typical of this region.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls its flagship Wingdam
Project and the Fraser Canyon Project through its wholly owned
subsidiary CVG Mining Ltd. The Wingdam Project is located 45 km
east of Quesnel B.C. on the Barkerville highway. The
property includes both placer and hard-rock tenures along the
Lightning Creek valley, where topographic conditions created a
thick overburden which preserved a large portion of the channel
from conventional surface placer mining activity.
The securities described herein have not been, and will not
be, registered under the United States Securities Act of
1933, as amended (the "Securities Act"), or the securities
laws of any state of the United
States, and may not be offered or sold in the United
States or to, or for the account or benefit of, any U.S.
Person (as defined in Regulation S of the Securities Act) or a
person in the United States,
unless an exemption from such registration requirements is
available.
This news release does not constitute an offer to sell, or
the solicitation of an offer to buy securities in any jurisdiction
in which such offer or solicitation would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
Forward-Looking Statements
This release includes forward-looking statements regarding
Omineca and its business. Such statements are based on the current
expectations and views of future events of Omineca's management. In
some cases, the forward-looking statements can be identified by
words or phrases such as "may", "will", "expect", "plan",
"anticipate", "intend", "potential", "estimate", "believe" or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements. The forward-looking events and
circumstances discussed in this release may not occur and could
differ materially as a result of the failure to consummate
project financing, the economic feasibility of the drill
diamond program and the Mouse Mountain project, known and
unknown risk factors and uncertainties affecting Omineca, including
risks regarding the resource industry, economic factors and the
equity markets generally and many other factors beyond the control
of Omineca. No forward-looking statement can be guaranteed.
Forward-looking statements and information by their nature are
based on assumptions and involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or industry results, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statement or
information. Accordingly, readers should not place undue reliance
on any forward-looking statements or information. Forward-looking
statements speak only as of the date on which they are made and
Omineca undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise, except as required by applicable
securities laws.
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 release.
SOURCE Omineca Mining and Metals Ltd