Giant Mining Corp. Engages Legarza Exploration for Road Construction at Majuba Hill Porphyry Copper Deposit
VANCOUVER, BC - June 17, 2024 - Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) ("Giant Mining" or the "Company") is pleased to announce it has engaged Legarza Exploration ("Legarza") to build new roads and drill sites at the Majuba Hill Porphyry Copper Deposit ("Majuba Hill"), a copper, silver, and gold project located in Pershing County, Nevada.
Most of the proposed road work was approved as part of the Reclamation Cost Estimate by the State of Nevada, Department of Conservation & Natural Resources, with the Bureau of Mining Regulation and Reclamation ("BMRR") which will provide safe and efficient access for exploration drill rigs to the in-fill and extension drill locations.
The Company is currently awaiting approval from the Winnemucca District Office of the Bureau of Land Management ("BLM") on a small portion of the road described in an Amendment to the existing BLM Notice Level plan submitted in May 2024. Construction is proposed to begin on or about June 18th 2024.
David Greenway, President and CEO of Giant Mining Corp., stated, "We are excited to advance our operations at Majuba Hill with the construction of this new road. Engaging Legarza for this crucial infrastructure project underscores our commitment to ensuring safe and efficient access to our drilling sites. This development marks a significant step forward in our exploration and operational plans for the upcoming drill season."
As previously announced in the May 30, 2024 news release (see News Release), the new road and site construction will partially support our drilling activities at Majuba Hill, including the proposed 3,900 meters (12,800 feet) of reverse circulation (RC) drilling across 16 drill holes and 488 meters (1,600 feet) of core drilling within the existing exploration target area. Additionally, the Company plans to drill two deep core holes, each expected to reach depths of up to 3,500 feet (1,066 meters).
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Figure 1: Planned Roads 2024
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by E.L. "Buster" Hunsaker III, CPG 8137, a non-independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
Stock Options and Restricted Stock Units
The Company announces that it has granted a total of 525,000 stock options ("Options") to purchase common shares of the Company to certain officers, employees and consultants pursuant to the Company's Stock Option Plan. Such Options are exercisable into common shares of the Company at an exercise price of $0.75 per common share for a period of twelve months from the date of grant. All of the Options expire on June 16, 2025.
The Company announces it has granted 1,800,000 restricted stock units ("RSUs") to officers, directors, employees, and consultants of the Company. The RSUs are valid for a term of one year and under the terms of the Company's restricted share unit plan (the "RSU Plan"). All of the RSUs expire on June 16, 2025.
About Giant Mining Corp.
Giant Mining Corp. is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles (251 km) outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Giant Mining Corp.
"David Greenway"
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
E: info@giantminingcorp.com
P: 1 (855) 475-0745
VISIT OUR WEBSITE FOR MORE DETAILS
www.giantminingcorp.com
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Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Giant Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Giant Mining Corp. management on the date the statements are made. Except as required by law, Giant Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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