GTA Provides Update on Corporate Activities and Work Program
BURLINGTON, ONTARIO--(Marketwired - Apr 19, 2016) - GTA Resources and Mining Inc. (TSX VENTURE:GTA) provides a corporate update and an outline of the first phase of its 2016 work program.
On April 11, 2016 GTA announced it would implement a flow-through financing based upon Ontario's recent new prospectus exemptions, making it the first company in Canada to do so. Funding for that prospective financing continues, with GTA using Stockhouse's Deal Room to access Stockhouse's precleared list of roughly 16,000 accredited investors. GTA's disclosure information at the Deal Room can be found at www.stockhouse.com/dealroom#hp010816.
GTA has received national exposure as a result of this innovative financing method, leading to two high-profile invitations.
First, GTA has been invited by the Canadian Saudi Business Council to attend the Saudi Canadian SME Forum in Riyadh, Saudi Arabia. This Forum is organized in co-ordination with the Saudi Embassy in Ottawa and the Canadian Embassy in Riyadh. The majority of the cost of attending the Forum is borne by the CSBC.
The CSBC's purpose is to lead Canadian trade delegations to Saudi Arabia, giving Canadian companies access to government officials and business leaders. The Council will also assist Saudi investors in accessing Canadian investment opportunities. GTA intends to discuss its possible near-term production theories at its Northshore Gold Property, located near Thunder Bay, Ontario. The maiden NI 43-101 Resource Estimate on Northshore was filed on Sedar in July, 2014.
Second, GTA has been invited to attend at the 5th Annual Cleantech & Technology Metals Summit, to be held in May, 2016 in Toronto. (http://www.investorintelsummit.com/). This two day summit is intended to review the global status of technology metals (lithium, graphite, silicon, platinum, cobalt, vanadium, scandium, rare earths, etc.), and the supply and demand issues surrounding them. GTA has been asked to discuss how its innovative finance model works in compliance with Ontario's recent prospectus exemptions (see MI45-108 - Crowdfunding - http://www.osc.gov.on.ca/en/SecuritiesLaw_45-108.htm) and how that model can be adapted for other resource issuers.
In the field, GTA's technical team continues to develop the spring and summer exploration programs, intended to advance both the Northshore Property and the Ivanhoe Property in Northern Ontario. At Northshore and following closing on the flowthrough financing referred to above, GTA intends to carry out definition drilling towards the north area of the property from where a producing gold mine operated in the 1930's. GTA has already identified the "Gino Vein" in that area, which requires further work to better understand its possible near-term production capabilities.
About GTA
GTA is publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold and graphite in Canada. GTA is a tightly held company having 33,306,855 shares outstanding of which insiders control approximately 21%. The Company's shares trade on the TSX Venture Exchange under the symbol "GTA." The Company currently has three projects located in northern Ontario: the 51% owned Northshore Project, near Schreiber / Hemlo; the 100% owned Auden Project near Hearst; and, the Ivanhoe Project near Folyet, in which it has an option to acquire a 100% interest. GTA also owns the Burnt Pond Project in central Newfoundland, proximal to the former producing Duck Pond Cu-Zn Mine.
On behalf of the board of directors
GTA Resources and Mining Inc.
Wayne Reid, President and CEO
For more information, please visit the corporate website at www.gtaresources.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 press release.
This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
Contact
GTA Resources and Mining Inc.
Wayne Reid
President and CEO
1 709 699 1733
www.gtaresources.com