MAS Gold Completes Drill Program, Advances Arbitration Proceedings in Order to Secure 100% Ownership, and Appoints Jim Engdahl as a Director
Vancouver, March 22, 2021 - MAS Gold Corp. ("MAS Gold") (TSXV:MAS) is pleased to announce the completion of the 2021 winter La Ronge drill program with a total of 5,414.4 metres completed. A total of 2912.9 meters were drilled in 15 holes on the Greywacke Lake property and 2,501.5 meters were drilled in 10 holes on the North Lake property.
The field work is now being finalized and core cutting and sampling is continuing. MAS Gold expects assay results to come in consistently over the coming weeks. These results will be released in batches as the assays are completed and received.
MAS Gold also announces that, on March 17, 2021, arbitration proceedings between MAS Gold and Golden Band Resources Ltd. ("GBR") were completed. At issue remains the ownership percentage of the La Ronge South Gold Joint Venture between MAS Gold and GBR.
MAS Gold's position remains that it has diluted GBR's interest in the joint venture below 10% and thus has converted their total interest to a 2% Net Smelter Royalty. MAS Gold is further pushing for the transfer of title of all properties subject to the La Ronge South Gold Joint Venture to MAS Gold. While no specific timeline for a ruling was given at the proceedings, MAS Gold is expecting the ruling to be received in the coming weeks.
Additionally, the board of directors of MAS Gold announces that it has appointed Mr. Jim Engdahl to the board. Mr. Engdahl was also recently appointed as the President and CEO of MAS Gold.
Qualified Person
The scientific and technical information contained in this news release has been prepared, reviewed and approved by David Tupper, P.Geo. (British Columbia), MAS Gold's VP Exploration and a Qualified Person (QP) within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects (NI 43-101).
About MAS Gold Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Gold Belt of Saskatchewan.In the belt, MAS Gold Corp. operates four properties totaling 33, 843 hectares (83, 628 acres), including the Greywacke Lake, Preview-North, Elizabeth Lake and Henry Lake Properties extending along a total of roughly 60 kilometres of the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt.
MAS Gold's holdings include the Greywacke North, North Lake and Point gold deposits and the historically defined Elizabeth Lake copper-gold volcanic-hosted massive sulphide deposit.
The Greywacke North deposit, which hosts multiple known stratabound, high-grade gold-bearing zones, has an estimated 255,500 tonnes at 9.92 g/t Au (cut-off grade of 5 grams gold/tonne) for 81,500 ounces of gold, plus an Inferred Mineral Resource of an estimated 59,130 tonnes at 7.42 g/t Au for 14,100 ounces of gold (NI 43-101 Technical Report, June 1, 2016).
The North Lake deposit located at Preview North Property is estimated to contain an Inferred Mineral Resource of 14,110,000 t grading 0.92 g/t Au, hence 417,000 contained ounces of gold (NI 43-101 Technical Report, April 10, 2020)
Jim Engdahl
President & CEO
For further information about MAS Gold please visit both www.masgoldcorp.com or contact: Lubica Keighery, (778) 889-5476, lubica@masgoldcorp.com
Caution Regarding Forward-Looking Information and Statements:
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. MAS Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to MAS Gold's limited operating history, the need to comply with environmental and governmental regulations, results of exploration programs on their projects and those risks and uncertainties identified in each of their annual and interim financial statements and management discussion and analysis. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, MAS Gold undertakes no obligation to publicly update or revise forward-looking information.
Neither 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 news release.
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