(Vancouver, April 27, 2020): Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) reports that, at the request of IIROC, the Company wishes to clarify specific deficiencies in its April 22, 2020 release. The title of the Company’s April 22, 2020 news release “Standby Gold Zone” – An exceptional gold system capable of hosting a multimillion ounce resource extending 1800 meters down plunge from the mine workings” is overly promotional and is misleading as the Company has not defined a mineral resource on its Standby Gold Project. The Company hereby retracts the statement in the title that “Standby Gold Zone is an exceptional gold system capable of hosting a multimillion ounce resource”.
The disclosure in the Table reports “Gram-Meters (Au g/t x Width (m)” – The Company does not have sufficient data and information to calculate a true width of the drill intersections, as a result the disclosure of the table reporting “Gram-Meters Au (Au g/t x Width (m))” is misleading and the Company retracts all disclosure of Gram-Meters Au (Au g/t x Width (m)). The Company does not have sufficient data and information to calculate a true width of the drill intersections, as a result the statement “Company’s Phase I and II drilling has confirmed a very broad gold system which matches or exceeds the early exploration drilling results of many of the deposits located at the Homestake Mine” is misleading. The Company hereby retracts this disclosure.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Nelson W. Baker, P.Eng., the President and CEO of Mineral Mountain Resources Ltd. and a Qualified Person for this project.
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact:
Brad Baker, Vice-President Corporate Development & Director
(778) 383-3975 firstname.lastname@example.org
Or visit our website: www.mineralmountainresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking information
This release includes certain statements that may be deemed to be “forward-looking information” under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking- information. Forward looking information consists of statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward- looking information. Factors that cause the actual results to differ materially from those in forward-looking information include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company’s forward-looking information should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. 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. Please see the public filings of the Company at www.sedar.com for further information.
Table 1: Summary of MMV Phase I & II and Historical Standby Drill Results
Figure 1: Standby Gold Trend showing Upper Tail and Larger Untested Target Trend
Intense quartz – sulphide – chlorite alteration over wide intervals, example from near Target 1 area