Vancouver, British Columbia – October 19, 2022 – Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) (“Exploits” or the “Company”) is pleased to announce that it has acquired, through staking, a 100% interest in 220 claim units within the Exploits Sub Zone area of central Newfoundland. These claims (the “New Claims”) compliment the addition to the previously staked claims (see news release dated September 27, 2022 for further information). The New Claims cover 55 km2 and are located 10 kilometres northeast of the Company’s previously staked claims and directly on-trend with New Found Gold and Labrador Gold’s success at the Lotto, Keatts, Big Vein and Midway discoveries. Exploits’ structural interpretation indicates that the Appleton Fault and the broader structural corridor extends northwards across these acquired claims.
Jeff Swinoga, Chief Executive Officer of Exploits, comments, “We are pleased to strategically grow our land position within the Exploits Sub Zone, located along the interpreted Appleton Fault Corridor. These New Claims are a game changing addition to our portfolio and will be a key area of focus for our exploration programs.”
Figure 1: Overview map showing new claims acquired by Exploits.
New Options Granted
The Company also announces that, in accordance with the Company’s Stock Option Plan, it has granted officers, directors, employees and consultants of the Company an aggregate 1,875,000 incentive stock options, exercisable on or before October 18, 2025 at price of $0.20 per share.
National Instrument 43-101 disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101. Mr. Tylee has reviewed and approved the technical information presented herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. The Company is actively exploring its gold projects in the Exploits Subzone, covering approximately 2,000 square kilometres of mineral tenements. The Company’s Exploration 2.0 methodology is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold’s success at the Keats and Lotto Zones in the Appleton zone. Exploits is leveraging its local team and geologic understanding to become one of the most extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ “Jeff Swinoga”
President and CEO
For more information, please contact:
VP, Investor Relations
+1 (778) 819-2708
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.