____________________________________________________________
TSX.V: FKM
OTCQB: FKMCF
FRANKFURT:
F7E1
FOKUS MINING
MAKES PAYMENT PURSUANT TO THE OPTION AGREEMENT TO ACQUIRE 100% OF
THE GALLOWAY PROJECT
Rouyn-Noranda, Quebec,
Canada,
February
23,
2021 -
Fokus
Mining
Corporation ("Fokus"
or the "Company")
(TSXV:
FKM, OTCQB: FKMCF, FSE: F7E1)
is pleased to announce that it
has now made the third payment pursuant to previously announced
option agreement whereby Fokus
can
acquire 100% interest of the mineral claims on the Galloway
project.
The cash payment of
$250,000
was the third of a series of four equal payments to
Vantex
Resources Ltd.
(TSXV: VAX) in order to acquire the project. The last payment
is due in three months (see 'Fokus'
press releases dated July16, 2020 and August 7, 2020 for more
information).
Jean Rainville, CEO
and president of Fokus
commented: "We are
quite encouraged by the drill results released last week (see press
release of February 19, 2021). We are particularly thrilled by the
results of our first hole on Hendrick as gold grades
exceeded
historical results.
As we are waiting for the results of the second hole on Hendrick,
we are
continuing drilling in the GP
zone and its extension to the Hurd zone.
We are
excited that the third hole on Hendrick
will
begin tomorrow".
About
Fokus
Fokus
Mining
Corporation is
a
mineral resource company actively acquiring and exploring precious
metal deposits located in the province of Quebec,
Canada. In implementing
this major undertaking within the Canadian mining industry, we are
determined to unlock the secret
of the Galloway gold project.
The Galloway
project covers an area of 2,865.54
hectares and is located just north of the Cadillac-Larder Lake
deformation which extends laterally for more than 100 km. Numerous
gold deposits are related to that structure and its subsidiaries.
The current work focuses on a small western portion of the mineral
claims where several mineral occurrences have been identified. For
more information, visit our
website:
fokusmining.com.
The
TSX Venture Exchange and its Regulation Services Provider (as that
term is defined in the TSX Venture Exchange Policies) do not accept
any responsibility for the truth or accuracy of its
content.
For further
information:
Jean Rainville,
President & Chief Executive Officer
Tel.: (514)
918-3125, Fax: (819) 762-0097
Email:
jrainville@fokusmining.com
Related
Links
http://fokusmining.com/
Caution Regarding Forward-Looking Statements
Certain statements
contained in this news release may constitute forward-looking
information. Forward-looking information is often, but not always,
identified by the use of words such as "anticipate", "plan",
"estimate", "expect", "may", "will", "intend", "should", and
similar expressions. Forward-looking information involves known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking information. The Company's
actual results could differ materially from those anticipated in
this forward-looking information as a result of regulatory
decisions, competitive factors in the industries in which the
Company operates, prevailing economic conditions, changes to the
Company's strategic growth plans, and other factors, many of which
are beyond the control of the Company. The Company believes that
the expectations reflected in the forward-looking information are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking information
should not be unduly relied upon. Any forward-looking information
contained in this news release represents the Company's
expectations as of the date hereof, and is subject to change after
such date. The Company disclaims any intention or obligation to
update or revise any forward-looking information whether as a
result of new information, future events or otherwise, except as
required by applicable securities legislation.