SASSY RESOURCES CHANGING NAME TO “SASSY GOLD” RENEWED FOCUS ON ESKAY CAMP FOREMORE PROJECT
Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) is pleased to provide the following corporate update as the Company mobilizes crews to its 100%-owned Foremore Project in Northwest B.C.’s prolific Eskay Camp to commence drilling at the Westmore Gold Discovery.
Over the coming weeks, Sassy Resources Corp. will change its name to “Sassy Gold Corp.” to better reflect the Company’s renewed focus on its flagship Foremore high-grade gold project. Sassy’s trading symbols on the CSE, OTCQB and Frankfurt stock exchanges will remain the same, and there will be no changes to the Company’s capital structure.
“The rebranding of Sassy Resources to Sassy Gold is a natural step given the growing significance of Foremore and our direct exploration opportunity within one of the world’s premier gold camps,” stated Mr. Mark Scott, Sassy CEO. “Foremore provides exciting and immediate upside potential for shareholders while our long-term value proposition has never been better with our significant equity stake in the Newfoundland Gold Rush (Gander Gold and Galloper Gold) and our investment in MAX Power Mining.”
Sassy’s new website will be unveiled shortly in conjunction with the name change. For now, investors can visit SassyResources.com.
Sassy has arranged a hard dollar private placement of up to $3.2 million driven by several new strategic investors in Canada and Europe. The financing comprises up to 16,410,256 shares at 19.5 cents per share with no warrants. It is expected to be fully subscribed and will close on or about July 8, 2022, subject to final approval by the CSE. Funds will be used for exploration at Foremore and general corporate purposes.
“We’re delighted at securing new investors to add to an already strong retail following as we enter an exciting new period in the young history of Sassy,” stated Mark Scott. “We have carefully managed our share structure over the past two years, allowing us to take advantage of a special opportunity like we have now to ignite our business and market efforts at the right time in the gold cycle.”
Drilling at Foremore will commence during the second half of July and will initially focus on the 4 Amigos Vein where four of the last five drill holes intersected visible gold including 86.4 g/t Au and 41.6 g/t Ag over 0.7 m within a core length of 1.4 m grading 43.2 g/t Au and 20.8 g/t Ag starting just 8.7 meters downhole in WM21-015 (refer to March 3, 2022 news release).
4 Amigos is one of multiple vein structures at Westmore carrying high-grade gold.
Gold occurs in quartz veins within the Westmore intrusive and surrounding volcanic rock, elevating the potential of this exciting new target displaying classic Eskay Camp signatures.
Mineralization at Westmore extends to a depth of at least 400 meters and remains open in multiple directions.
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle. Sassy is also earning up to a 100% interest in the Highrock Uranium Project in the Key Lake region of Saskatchewan. Sassy also holds significant equity positions in Gander Gold Corp., Galloper Gold Corp., and MAX Power Mining Corp.
Chief Executive Officer & Director
Managing Director – Star Finance GmbH
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This news release contains “forward-looking statements” and “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “continues”, “projects”, “potential”, “budget” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements pertaining to: the closing of the Transaction and the ability for the Transaction to enhance shareholder value.
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Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to known and unknown risks, including those set forth in the Company’s Management Discussion and Analysis (a copy of which can be found under Sassy’s profile on SEDAR at www.sedar.com). Accordingly, readers should not place undue importance or reliance on the forward-looking statements. Readers are cautioned that the list of factors is not exhaustive. Statements, including forward-looking statements, contained in this news release are made as of the date they are given and the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Additional information on these and other factors that could affect the Company’s operations and financial results are included in reports on file with applicable securities regulatory authorities and may be accessed under the Company’s profile on SEDAR at www.sedar.com.
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