EGFV Signs LOI to Acquire the Raven Quarry Property
Vancouver, May 16, 2022 - Evolution Global Frontier Ventures Corp. (CSE: EGFV) (the "Company", "EGFV" or "Issuer") announces that it has signed a non binding Letter of Intent to acquire the Raven Quarry Property, located in Harrison, British Columbia. The property has an architectural and structural black granite "Pyroxene Gabbro" dimension stone located on the property. The owners had a previous estimate provided by a third party engineering firm that calculated the estimated volume of of recoverable dimension stone to be approximately 165mm tonnes based on a review of past diamond drilling and limited past production. Also, In addition to the dimension stone potential, the Raven project is located 15 km to the northwest of the former producing BC Nickel Mine. This mine was the only nickel copper cobalt PGM producer in BC. The Raven project occurs within the same geological setting and is prospective for nickel copper mineralization.
Terms of the LOIs agreement call for " EGFV", to issue a minimum of 1 million commons shares "in trust" to be applied towards the closing as part of the purchase price which will be subject to a third party valuation and final negotiations between the parties. The company will be required to complete its due diligence and any other required documents or reports to arrive at the terms to complete a binding "Definitive Agreement." Management will continue to provide future shareholder updates on material developments of the LOI as required.
Evolution Global Frontier Ventures Corp.
Contact: Ron Miles, CEO
Email egfrontierventures@gmail.com Telephone: (604) 725-2255
About EGFV
Evolution Global Frontier Ventures Corp. (formerly known as Ascension Exploration Inc.) - is a mineral exploration company focused on the acquisition, exploration and development of gold properties. The Company is based in Vancouver, B.C. and holds a signed option on a Quesnel Terrane property in north central British Columbia.
Disclaimers
This news release contains 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. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators which is posted on www.sedar.com. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. No regulatory authority accepts responsibility for the adequacy or accuracy of this release. The Company does not undertake to update this news release unless required by applicable law.
(Not of Dissemination in the United States)