Sanatana Receives TSX-V for Jackfish Gold Property and Makes First Option Payments
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 19, 2017) - Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has received regulatory approval from the TSX Venture Exchange for the three mineral option agreements (the "Option Agreements") announced in the Company's news releases dated February 7, 2017 (a copy of which is available under the Company's SEDAR profile available at www.sedar.com).
Under the terms of the Option Agreements, Sanatana issued the respective optionors the first tranche of the share consideration, being an aggregate of 3,000,000 common shares, and made aggregate first tranche cash payments of $145,000. The common shares issued are subject to a hold period of four months and a day from the date of issuance as required by applicable securities law.
Peter Miles, President and CEO, stated: "Having made the first option payments, Sanatana is immediately initiating exploration on the Jackfish gold project. We will begin work on the Wahl ground for which we already have an exploration permit. The program's objective is to better define drill collar locations for a planned drill program. The current work program will include ground geophysics (magnetic and electromagnetic surveys) and geochemistry (outcrop stripping and sampling of previously discovered high-grade gold showings)."
The information in this news release was prepared under the supervisions of Troy Gill, BSc. MAIG, Exploration Manager for Sanatana. Mr. Gill is a Qualified Person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Technical Projects and has reviewed and approved the technical information disclosed in this news release.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company that has optioned the Jackfish gold property in northwestern Ontario. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE:STA).
SANATANA RESOURCES INC.
Peter Miles
President and Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Mr. Peter Miles
President and Chief Executive Officer
(604) 408-6680
investor@sanatanaresources.com