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Conditional Acceptance Received For Nevada Gold Acquisition Copper Hill Option Terminated
April 6th, 2017-Saskatoon, SK—Canadian Platinum Corp. ("CPC" or the "Company"—TSXV:CPC) provides the following corporate update related to its portfolio of mineral exploration projects (see the news release dated April 5th, 2017 for an update on the Peter Lake Project):
Cook Gold Project, Nevada
Further to the news release dated January 9th, 2017, the Company reports that the TSX Venture Exchange has provided conditional acceptance of the acquisition, by CPC, of a 70% interest in the Cook Gold Project in Humboldt County, Nevada. Final approval is conditional on receiving disinterested shareholder approval of the transaction and the creation of a new control person, and providing certain other documentation related to historical expenditures. Further announcements will be made in due course.
Copper Hill Gold/Porphyry Copper Project, Nevada
The agreement to acquire the Copper Hill gold/porphyry copper project near Searchlight, Nevada (see news release dated June 4, 2015) has been terminated. Because of solar farm construction right on the eastern claim boundary, where the highest gold potential exists, access and the ability to properly carry out exploration work was being severely restricted. Therefore, the decision was made to terminate the agreement.
Craig Lake Base Metal Project, Saskatchewan
The Craig lake Project, near Flin Flon, Manitoba, now consists of 3 claims covering 4,977 hectares. The main claim block covers two DPEM targets-one measuring 500m X 500m along strike and down dip, and the other measuring 800m X 800m. The claims are within 1700m of the former-producing Westarm Mine.
Brabant Lake Graphite Project, Saskatchewan
This project now consists of one claim block covering 704 hectares. The claim covers 3 known zones of graphite mineralization including the Ben showing. Samples from the Ben showing assayed between 6.4% Cgr (graphitic carbon) to 48.4% Cgr. Assay results and analyses from the three showings showed that 82% to 86% of the graphite reported to the +80 mesh (+0.18mm) size fraction and 70% to 79% reported to the +50 mesh (0.30mm) size fraction.
Gary Billingsley, President comments "We have maintained a diversified project portfolio while focusing on consolidating our land position to cover the areas of highest exploration potential. Our immediate goal, though, is to satisfy the outstanding conditions to get final acceptance from the TSXV in closing the acquisition of the Cook Gold Project."
The technical data in this news release have been prepared, reviewed, and approved by Gary Billingsley, PEng, PGeo, a qualified person under the terms of National Instrument 43-101.
About Canadian Platinum Corp.
Canadian Platinum Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, SK. CPC is focused on the acquisition and development of a diversified portfolio of resource properties with an emphasis on platinum group elements, but including precious, base and strategic metals.
CANADIAN PLATINUM TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL "CPC".
For more information, including news releases and technical reports providing more detail on the contents of this news release, please visit our website at www.canplats.ca.
For further information:
Canadian Platinum Corp.
Gary Billingsley, President
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CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
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