VANCOUVER, BC, March 31,
2023 /CNW/ - Stuhini Exploration Ltd.
("Stuhini" or the "Company") (TSXV: STU) (OTCPK:
STXPF) announces that the Company has renewed
its option on the Que Project. The Option Agreement was
first announced on February 21, 2020
and amended and restated on October 26,
2020 whereby Stuhini can acquire a 100% interest in the road
accessible Que Property (the
"Property"), located in the Yukon, Canada approximately 70 kilometres from
Johnson's Crossing (the "Option").
The agreement as amended
provides for the payment of a total of
112,500
Shares of the Company to Optionors, as
defined in the Option Agreement, on the Third Anniversary Date of
the approval of the Option by the TSX-V. These
shares are the only committed payment over the next 12 months.
There are no work commitments. The balance of the share issuances
and the cash payments are all at the Company's election should it
wish to maintain the Option after April 2,
2024.
Dave O'Brien, Company
President and CEO commented: "Given the notable
molybdenum price uptick over the past 4 months, we are presently
focused on the advancement of our Ruby Creek Molybdenum deposit,
but we remain encouraged by the prospectivity of the Que Project
and believe this is a notable asset within the Companies Project
portfolio."
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the
exploration and development of precious and base metals properties
in western Canada and
south-western USA. The Company's
portfolio of exploration properties includes: its flagship, the
Ruby Creek Property located approximately 14 km east of
Atlin, BC; the Que Project located
approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located
approximately 35 km northwest of Grand
Rapids, Manitoba; the Big Ledge Property located
approximately 57 km south of Revelstoke,
British Columbia; and its portfolio of properties in
south-east Arizona.
Forward Looking Statements
This news release contains "forward-looking statements"
within the meaning of Canadian securities legislation. Such
forward-looking statements concern the maintenance and continuation
of the Que Property Option Agreement, the Company's strategic
plans and timing and expectations for the Company's exploration and
drilling programs. Such forward-looking statements or information
are based on a number of assumptions, which may prove to be
incorrect. Assumptions have been made regarding, among other
things: conditions in general economic and financial markets;
accuracy of assay results; geological interpretations from sampling
results, timing and amount of capital expenditures; and future
exploration costs. The actual results could differ materially from
those anticipated in these forward-looking statements as a result
of the risk factors including: the timing and content of work
programs; results of exploration activities and development of
mineral properties; the interpretation and uncertainties of
sampling results and other geological data; receipt, maintenance
and security of permits and mineral property titles; environmental
and other regulatory risks; project costs overruns or unanticipated
costs and expenses; availability of funds and general market and
industry conditions. Forward-looking statements are based on the
expectations and opinions of the Company's management on the date
the statements are made. The assumptions used in the preparation of
such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date the statements were
made. The Company undertakes no obligation to update or revise any
forward-looking statements included in this news release if these
beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable 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 release.
SOURCE Stuhini Exploration Ltd.