Everton Resources Acquires Wildcat 1 and 2 Properties, Opinaca Area, James Bay, Quebec
Ottawa, Ontario - (August 11, 2016) - Everton Resources Inc. (“Everton” or the “Company”) (TSX-V:EVR) and Hecla Mining, through its 100% subsidiary Hecla Quebec, have agreed to transfer the Wildcat 1 and 2 properties to Everton.
The Wildcat 1 and 2 properties consist of 129 claims located from 5 to 20 km northwest of the Roberto gold deposit owned by Goldcorp Inc. All the rights, titles, and interests in the property have been transferred to Everton in consideration of a 1.0% net smelter royalty (NSR) on the properties. Everton reserves the right to purchase one half (1/2) of one percent (1%) of the NSR royalty, by paying to Hecla the sum of CAD $500,000.
Geologically, these claims straddle the contact of a granodiorite intruding high grade metasediments (migmatite) including a narrow bands of wacke of lower metamorphism. Everton initiated a follow-up exploration program, the first phase of which were completed in July 2016. Analytical results from this first phase one are still pending. The second phase is now under planning following the recent reception of exploration data carried out by Hecla. Although the analysis of these data is not fully completed, the next exploration phase will included follow up over auriferous tills and grab sampling from boulder and bedrock. This data will also be examined for other minerals and lithium. The swamp covered areas will be investigated with ionic leaching geochemistry. The Company also intends to follow up other gold anomalies obtained in past exploration programs by Everton.
André Audet, Chief Executive Officer and President of Everton, commented, “Everton considers the transfer of Wildcat 1 and 2 properties as a positive development for the Company. It strengthens our land position only a few kilometers away from the Eleonore gold deposit.”
The technical content of this release was reviewed by Rémi Charbonneau, P.Geo., a qualified person as defined by the National Instrument 43-101.
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.
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This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.
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