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VANCOUVER, British Columbia, November 29, 2022 (GLOBE NEWSWIRE) — Goat Industries Ltd. (the “Company” or “GOAT”) (CSE: GOAT)is pleased to announce that it has acquired additional receivables (“Additional requirements”) near American Eagle Gold Corp. (“American Eagle Gold“) discovery of NAK mineralized copper (“NAK Copper Discovery”), located approximately 85 kilometers from Smithers, British Columbia.
The additional claims contain a historic British Columbia Minefile occurrence northeast of NAK’s recently reported copper discovery, which adds to an additional block of claims the Company recently acquired in close proximity. On November 7, 2022, American Eagle Gold announced results showing 125 meters of 1.02% copper equivalent from surface within 851 meters of 0.33% copper equivalent from their first drill hole at NAK Copper Discovery. The Boliden Group subsequently entered the area with an agreement to earn up to a 70% stake in the Duke Copper-Gold District by financing up to $90 million in costs as announced on November 22, 2022.
Additional claims include a historical occurrence reported in British Columbia Minfile 093N 108, which states “…chip samples of partially oxidized material from three shallow pits, 1.5 to 2.4 meters deep, returned copper values of 0.05 to 0 .38 percent (Properti File Cyprus MC Erskine Jr., 1966)…” and “…locally, traces of up to 0.3% disseminated in blebs and crack-filling chalcopyrites associated with pyrite and pyrrhotite have been identified in the intrusives modified potassium on an area of approximately 488 by 975 meters. “
The area is a famous porphyry copper gold district that is home to the NAK Cooper Discovery, as well as the Morrison, Dorothy, Duke and past producing Bell Copper Mines, and several historic events, including that of additional claims that did not yet have modern prospecting methods applied of daily porphyry copper. Porphyry copper and gold deposits are known to exist in clusters around the world according to publications by the US Geological Survey and authors Sillitoe and Zhu.
Copper is an important industrial mineral used in the production of electric vehicles, the production of electric vehicle batteries, and the infrastructure needed to power electric vehicles and industrialization around the world.
Readers are cautioned that the presence of mineralization on claims adjacent to those held by the Company is not necessarily indicative of mineralization that may exist on claims held by the Company.
dr. Stewart A. Jackson, PGeo, is the Company’s Independent Qualified Person under National Instrument 43-101 – Disclosure standards for mineral projectsand has reviewed and approved the scientific and technical content of this release.
ABOUT THE GOAT INDUSTRY
GOAT Industries is an investment issuer focused on investing in high-potential companies operating in various sectors. The most important goal of the Company will be to achieve maximum returns from its investments.
CSE has neither approved nor rejected the content of this announcement. Neither the CSE nor its market regulator (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this publication.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This release contains certain forward-looking statements within the meaning of such statements under applicable securities law. Forward-looking statements are often characterized by words such as “anticipates,” “plans,” “continue,” “expects,” “project,” “intends,” “believes,” “anticipates,” “estimates,” ” may’, ‘will’, ‘potential’, ‘proposed’, ‘positioned’ and other similar words or statements that certain events or conditions ‘may’ or ‘will occur’. The Company has made forward-looking statements based on assumptions it believes are reasonable at this time. All such forward-looking statements involve significant known and unknown risks and uncertainties, some of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the COVID-19 pandemic; rising interest rate environment, adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or the inability to access sufficient capital on favorable terms; the mining industry and markets in Canada and generally; the Company’s ability to implement its business strategies; competition; and other assumptions, risks and uncertainties. The reader is cautioned that the assumptions used in the preparation of forward-looking statements may prove to be incorrect and that actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events contemplated by the forward-looking statements will occur or occur, or if any of them occur, what benefits, including the amount of revenue, the company will derive therefrom. Readers are cautioned that the above list of factors is not exhaustive. The Company undertakes no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
CONTACT INFO
GOAT Industries Ltd.
investor relations
Email: alek@goatindustries.co
Phone: 604-687-2038
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