Rockhaven Issues Warrants under Exploration Benefits Agreement
18.08.2015 | FSCwire
Vancouver, British Columbia (FSCwire) - Rockhaven Resources Ltd. (TSX-V:RK) ("Rockhaven") announces that further to its August 11, 2015 news release, it has received TSX Venture Exchange acceptance to issue 500,000 share purchase warrants to the Little Salmon Carmacks First Nation (“LSCFN”). Each warrant entitles the LSCFN to purchase one Rockhaven common share at a price of $0.165 at any time on or before August 5, 2020.The warrants are being issued pursuant to the terms of an August 5, 2015 Exploration Benefits Agreement (the “EBA”) between Rockhaven and the LCSFN. Under the EBA Rockhaven will continue to explore its wholly-owned Klaza gold-silver project, located approximately 50 km by road west of Carmacks, Yukon and within the LSCFN traditional territory.
The EBA provides certainty for both parties through the exploration phase of the Klaza project as it establishes the framework under which Rockhaven and the LSCFN will advance the project through a mutually-beneficial working relationship.
Key features in the EBA are:
- the establishment of a cooperative working relationship between LSCFN and Rockhaven based on mutual respect, communication and collaboration;
- a recognition of the importance of the natural environment and ongoing LSCFN traditional values and activities;
- direct and indirect economic benefits for the LSCFN, LSCFN citizens and LSCFN businesses through equity involvement and employment and business opportunities related to the Klaza exploration activities;
- the establishment of specific processes under which exploration and environmental monitoring activities at the Klaza project will be undertaken;
- the prohibition of any exploration activities by Rockhaven on LSCFN Class A or Class B lands unless otherwise formally agreed; and
- a commitment to negotiate a full economic participation agreement in advance of any future feasibility study that may be carried out on the Klaza project.
About the Klaza Project and Rockhaven
The road accessible Klaza project hosts a recently announced inferred mineral resource estimate that includes 7,040,000 tonnes containing 948,348 oz gold, 21,780,313 oz silver, 121,060,093 lbs lead and 144,340,881 lbs zinc at an average grade of 4.19 g/t gold, 96.23 g/t silver, 0.78% lead and 0.93% zinc using a 1.5 g/t gold cut-off (see Klaza Property Amended Technical Report dated June 19, 2015 which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website) A fully funded exploration and engineering program that includes 15,000 m of diamond drilling is currently underway. The drilling is primarily designed to expand the current resource while providing key geotechnical and environmental data.
The 2015 program is managed by Archer, Cathro & Associates (1981) Limited (Archer Cathro). Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and qualified person for the purpose of National Instrument 43-101.
For additional information concerning the Klaza project or Rockhaven please visit our website at www.rockhavenresources.com or contact:
Matthew Turner, CEO and Director
Rockhaven Resources Ltd.
T:604-688-2568
mturner@rockhavenresources.com
Neither the 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.