South Star Mining Announces Proposed Warrant Extension
Vancouver, February 11, 2021 - South Star Mining Corp. ("South Star" or the "Company") (TSXV:STS) (OTC:STSBF) announces that it has applied to the TSX Venture Exchange to extend the expiry date of 4,050,000 outstanding share purchase warrants (the "Warrants") issued pursuant to a non-brokered private placement (the "Private Placement") that closed on February 28, 2019. The Company proposes to extend the expiry date of the Warrants for one year, from February 28, 2021 to February 28, 2022. The Warrants as originally issued are exercisable into common shares in the capital of the Company at an exercise price of $0.15 per common share, with an expiry date of February 28, 2021. No Warrants issued under the Private Placement have been exercised to date. All other terms of the Warrants will remain the same. The warrant extension remains subject to approval of the TSX Venture Exchange.
ABOUT SOUTH STAR MINING CORP.
South Star Mining Corp. is focused on the selective acquisition and development of near-term production projects in Brazil. STS is driven to create fundamental value in the battery metals sector for investors with real projects that have strong intrinsic financial and operating metrics and that can be profitable throughout the resource cycle. STS has an experienced executive team with a strong history of discovering, developing, building and operating profitable mines in Brazil.
The Santa Cruz Graphite Project, located in Southern Bahia, is the first of a series of battery metals projects that will be put into production. Brazil is the second largest graphite producing region in the world with over 80 years of continuous mining. The Project has at-surface mineralization in friable materials, and successful large-scale pilot plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2022, pending financing. To learn more, please visit the Company website at http://www.southstarmining.ca.
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Mining.
On behalf of the Board,
Mr. Richard Pearce
Chief Executive Officer
For additional information, please contact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Mr. Dave McMillan
Chairman
Email: davemc@telus.net
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.
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