|March 01, 2019|
Playfair Goes for Copper in Norway
Playfair Mining Ltd. (PLY-TSX.V) is pleased to announce that it has entered into an Option and Exploration Agreement with EMX Royalty Corporation (EMX-TSX.V) to acquire a 100% interest in EMX’s contiguous Rostvangen and Vakkerlien properties in South Central Norway. Together the properties cover almost 300 square kilometers in a historic mining area about 100km south of Trondheim by road.
The Rostvangen-Kvikne-Vakkerlien Project (RKV Project) covers 2 past-producing Besshi-type Volcanogenic Massive Sulphide (VMS) copper mines (Rostvangen and Kvikne), a nickel-copper deposit (Vakkerlien) and over 20 additional known mineral occurrences.
Playfair can acquire a 100% interest in the RKV Project through the issuance of Playfair common shares to EMX and conducting exploration work during a one-year option period as detailed below (all dollar amounts in CAD).
All terms of the Agreement are subject to TSX Venture Exchange Approval.
* Estimates of Vakkerlien resources and Rostvangen reserves are historical in nature, pre-date and are non-compliant with NI 43-101. Playfair is not treating the historical estimates as current mineral resources or reserves. Playfair has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Playfair believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.
The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain "forward-looking" statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.
Neither 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.
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