KELOWNA, BC, July 29, 2019 /CNW/ - Rockwealth Resources
Corp. (TSXV: RWR) ("RWR" or the "Company") is pleased
to announce that further to its news release dated July 22, 2019, the Company assisted Realgold
Resources Corp. ("Realgold") in raising funds pursuant to a
private placement at $0.20 per common
share to further develop its projects. The Company's CEO and
Director, Dev Randhawa invested $200,000 into Realgold and certain other third
parties invested $200,000 into
Realgold, for a total of $400,000.
The Company continues to conduct due diligence on Realgold and its
properties located in the Kyrgyz
Republic.
The Tien Shan Gold Belt is an extensive geological province
containing >200 million ounces of gold and is host to several
giant gold deposits, including the world's single largest operating
gold mine (Muruntau in Uzbekistan)
to the west and the giant Kumtor mine in eastern Kyrgyzstan to the east end of the belt.
The Company believes that Realgold's portfolio of gold assets
have the geological potential to host large Carlin type gold-rich
mineral deposits within the Tien Shan Gold Belt.
Dev Randhawa, CEO and Director, and Ross
McElroy, Director of the Company stated "we are excited to
potentially complete a deal with Realgold and its world class team.
Realgold's team includes its President, Doug Kirwin, MSc Geology, who has over 45 years
of international exploration experience including detailed
knowledge of Tien Shan geology and
mineral deposits. Realgold's portfolio covers the world's second
largest confirmed Carlin terrain and includes 16 properties
covering approximately 274,000 hectares."
Doug Kirwin, President and
Director of Realgold
Mr. Kirwin continues a successful career in the
international mining sector. As Executive Vice President
of Ivanhoe Mines, he was a key
member of the discovery of the giant Oyu Tolgoi copper deposits in
Mongolia, acquired by Rio Tinto,
earning his team the prestigious Thayer
Lindsey award in 2004 for the most significant international
mineral discovery. Mr. Kirwin also recommended the
acquisition of the Kainantu project to the founders of K92 Mining
Inc Corporation, which now operates the very successful high-grade
Kainantu gold mine in Papua New
Guinea. He remains involved with the project as a senior
technical advisor. In addition to contributing to the
discovery of several other significant gold mines and deposits, he
continues his role as an adjunct professor at James Cook
University, Australia.
Further Information
Further details regarding any potential transaction involving
Realgold and its properties will be provided in a future news
release, if and when the Company and Realgold execute a letter of
intent in respect thereof. There can be no assurance that any
transaction will be completed.
Qualified Person
The scientific and technical information contained in this news
release as it relates to Realgold has been reviewed and approved by
Ross McElroy, a "Qualified Person"
as defined in National Instrument 43-101 – Standards of
Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dev Randhawa"
Dev Randhawa
President and Director
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.
Forward-Looking Statements
This news release may contain forward-looking statements or
information within the meaning of applicable securities laws
including but not limited to comments regarding the signing of a
letter of intent, the potential transaction with Realgold,
statements about Realgold and its intentions, statements relating
to the technical or business prospects, and other matters.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements and the Company undertakes no obligation to update such
statements, except as required by law.
There can be no assurance that any transaction with Realgold
will be completed.
Forward-looking statements address future events and conditions
and are necessarily based upon a number of estimates and
assumptions. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans", "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved), and variations of such words, and
similar expressions are not statements of historical fact and may
be forward-looking statements. Forward-looking statement are
necessarily based upon a number of factors that, if untrue, could
cause the actual results, performances or achievements of the
Company to be materially different from future results,
performances or achievements express or implied by such statements.
Such statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals, anticipated costs and the ability to
achieve goals, that general business and economic conditions will
not change in a material adverse manner, that financing will be
available if and when needed and on reasonable terms, and
governmental and other regulatory approvals required to conduct the
Company's business will be available on reasonable terms and in a
timely manner. While such estimates and assumptions are considered
reasonable by the management of the Company, they are inherently
subject to significant business, economic, competitive and
regulatory uncertainties and risks. Forward-looking statements are
subject to a variety of risks and uncertainties, which could cause
actual events, level of activity, performance or results to differ
materially from those reflected in the forward-looking statements,
including, without limitation: (i) risks related to gold and other
commodity price fluctuations; (ii) risks and uncertainties relating
to the interpretation of exploration results; (iii) risks related
to the inherent uncertainty of exploration and cost estimates and
the potential for unexpected costs and expenses; (iv) that resource
exploration and development is a speculative business; (v) that the
Company may lose or abandon its property interests or may fail to
receive necessary licences and permits; (vi) that
environmental laws and regulations may become more onerous;
(vii) that the Company may not be able to raise additional funds
when necessary; (viii) the possibility that future exploration,
development or mining results will not be consistent with the
Company's expectations; (ix) exploration and development risks,
including risks related to accidents, equipment breakdowns, labour
disputes or other unanticipated difficulties with or interruptions
in exploration and development; * competition; (xi) the potential
for delays in exploration or development activities or the
completion of geologic reports or studies; (xii) the uncertainty of
profitability based upon the Company's history of losses; (xiii)
risks related to environmental regulation and liability; (xiv)
risks associated with failure to maintain community acceptance,
agreements and permissions (generally referred to as "social
licence"); (xv) risks relating to obtaining and maintaining all
necessary government permits, approvals and authorizations relating
to the continued exploration and development of the Company's
projects; (xvi) risks related to the outcome of legal actions;
(xvii) political and regulatory risks associated with mining and
exploration; (xix) risks related to current global financial
conditions; and (xx) other risks and uncertainties related to the
Company's prospects, properties and business strategy. These risks,
as well as others, could cause actual results and events to vary
significantly. Factors that could cause actual results to differ
materially from those in forward looking statements include, but
are not limited to, continued availability of capital and financing
and general economic, market or business conditions, the loss of
key directors, employees, advisors or consultants, decrease in
commodity prices including gold, litigation, exchange rate
fluctuations, failure of counterparties to perform their
contractual obligations and fees charged by service providers.
Investors are cautioned that forward-looking statements are not
guarantees of future performance or events and, accordingly are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty of such statements. The
forward-looking statements included in this news release are made
as of the date hereof and the Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities
legislation.
SOURCE Rockwealth Resources Corp.