Mineral Hill Announces Final Approval for the Acquisition of the DOT-Apex and Master-ACE Claim Groups by the TSX Venture Exchange
VANCOUVER, Nov. 26, 2021 - Mineral Hill Industries Ltd. ("Mineral Hill" or "Company") listed on the TSX Venture exchange ("TSXV") under the trading symbol "MHI" and on the Deutsche Boerse, Frankfurt under the trading symbol "MLN" wishes to announce that the TSX Venture Exchange has accepted for filing the Earn-In-Option Agreement dated December 22, 2020 between the Company and Cardinal Geoconsulting Ltd. ("Cardinal-Ltd."), whereby the Company may acquire up to 100% interest in the mineral claims DOT-Apex claim group ("Apex-Claims") and Master-ACE claim group ("ACE-Claims") located in south-western British Columbia by making cash payments of $50,000 ($10,000 for the first year), the issuance of 500,000 shares (100,000 in the first year) and incurring $347,028 exploration expenditures ($84,728 in the first year) over three years, subject to 2% NSR on the commencement of commercial production. The Company has completed its first stage commitments to Cardinal-Ltd. for the acquisition of the Apex-Claims. Due to the general laboratory workload Mineral Hill is still waiting to receive the rock assays and soil chemical results from its submitted samples.
The geological surveys and the rock sampling program including exploration camp related logistics and helicopter mobilization were under the direction and supervision of Dan Cardinal, P. Geo..
Mr. Cardinal confirmed that handling of all collected samples including its shipment to the analytical laboratory was conducted under the strict guidelines set out in the NI-43-101 protocols.
ABOUT MINERAL HILL INDUSTRIES LTD
Mineral Hill is a publicly trading junior mining company focused on the acquisition, exploration, development and possible mining of natural resources, with the presently primary objective of developing the Dot-Apex Claim Group ("Apex Claims") and the Master-ACE Claim Group ("ACE Claims"), located in south-western British Columbia. The Apex Claims consist of contiguous claim cells totalling 2,406.13 hectares and the ACE Claims totalling 695.09 hectares.
The Company seeks Safe Harbour
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the property option referred to above will be exercised or the private placement referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.
SOURCE Mineral Hill Industries Ltd.
Contact
Dieter Peter, President & CEO, Phone: +1 (604) 617-6794