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VANCOUVER, BC, June 10, 2024 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE:ERR) (the "Company" or "Etruscus") announces that effective June 8, 2024, the Company has terminated its option agreements dated June 19, 2021, with New Rock Mining. Inc. and June 23, 2021, with April Budgell and Donna Lewis (all together, the "Lewis Option Agreements"). The Lewis Option Agreements granted Etruscus Resources the right to acquire 100% interest in the Lewis Gold Property (the "Property") located in Newfoundland's central gold belt, Canada. Following the Company's assessment of results, the scale of capital expenditures needed to move the project forward, and a strategic look at current market conditions, the Company has decided to discontinue its exploration and evaluation activities at the Property and apply its full energies on further exploration of the 100%-owned Rock & Roll Property located in the prolific Golden Triangle in British Columbia.
Fiore Aliperti, Etruscus' President, and CEO commented, "Our geological team, along with senior management, has spent considerable time looking over the Lewis Property data and evaluating what is best for the Company moving forward. As a result, its essential for us to direct our efforts and resources to where the greatest potential for discovery lays. Moving forward, we will refocus our attention towards the Rock & Roll where previous exploration work has yielded several drill ready targets at the Discovery showing. We believe this is where we can add the highest value for our Investors."
About Etruscus
Etruscus Resources Corp. is a Vancouver-based exploration company focused on the acquisition and development of precious metal mineral properties. The Company's assets include the 100%-owned Rock & Roll property comprising 29,344 ha near the past producing Snip mine in Northwest B.C.'s prolific Golden Triangle, and until this news release, the Lewis Property in central Newfoundland totalling 2,567 hectares ("ha"), which had been under option to acquire a 100% interest.
Etruscus is traded under the symbol "ETR" on the Canadian Securities Exchange, "ETRUF" on the OTC and "ERR" on the Frankfurt Stock Exchange. Etruscus has 48,085,361 common shares issued and outstanding.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.