VANCOUVER, British Columbia, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Hi-View Resources Inc. (‘Hi-View' or the ‘Company’) (CSE: HVW; OTCQB: HVWRF; FSE: B63) is pleased to announce that pursuant to its news release dated October 21, 2024 on the offering of up to 5,000,000 units at $0.02 each (the “Offering”), it has now closed the non-brokered private placement (the “Units”), at a price of $0.02 per Unit for gross proceeds of $100,000.00. The Units issued consist of one common share of the Company and one common share purchase warrant (“Warrant”). The Warrants issued entitle the holder to purchase one additional share of the Company at a price of $0.05 per share on or before November 15, 2026. Hi-View will use the net proceeds from the Offering for general working capital.
Two directors of the Company, acquired directly, 750,000 Units in the Offering. Participation of insiders of the Company in the Offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101. The securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day.
Hi-View Resources President and CEO Howard Milne states, “With current gold prices, we are extremely encouraged with the results from our exploration and sampling program at our Golden Stanger property. Hi-View is located in one of the most prolific gold and silver regions in British Columbia and is planning a more extensive 2025 exploration program to follow up on these new anomalous gold zones and test the historic drilling that previously returned drill intercepts of up to 10 meters of 11.5 grams Au.”
Hi-View Resources made gold and silver sampling discoveries and has identified multiple new anomalous gold zones from a recently completed exploration program on its Golden Stranger and Lawyers South, East and West claim blocks (the “Properties”) located in BC’s prolific “Golden Horseshoe” region. The Properties are contiguous to Thesis Gold Inc. Lawyers-Ranch Project that has reported significant drilling intercepts and extensive ongoing drilling campaigns.
In Hi-View’s 2023 exploration program, physical work was completed on 389 sites of interest within the Golden Stranger claims, a helicopter landing pad was constructed to facilitate further exploration and a Wildlife Management Plan was completed. The Golden Stranger claims have historic drilling of 29 diamond drill holes during 1987 and 1988, which showed mineralization in core and on surface consistent with other regional mineralized trends. The Lawyers group of claims has had an airborne magnetics survey flown at 100 meter spacing, which produced strong magnetic anomalies consistent with other regional mineralized trends.
The soil survey was completed in fall 2023 that was centered around the main Golden Stranger historical showings on a grid 3 km wide by 2.8 km in length with 15 sample lines at 200 m spacing with samples along the lines collected at 100 m intervals. A total of 419 soil samples sites were examined and where possible sampled in 2023. Results have been received for a total of 335 samples with 8 samples returning greater than 50 parts per billion (ppb) gold (au) and 2 samples returning greater 100 ppb Au up to 254 ppb Au. A total of 11 rock grab samples during 2023 were collected while soil sampling with 3 samples returning greater than 0.1 grams per tonne (g/t) Au up to 0.957 g/t Au. A total of 6 of the 11 rock grab samples yielded greater than 2 g/t silver (ag) up to 7.4 g/t Ag. Most of the rock grab samples were collected near the north end of the main showings area.
Based upon the 2023 work and results, two areas with multiple anomalous gold in soil samples have been identified 800 m north of the main showings and 1.2 km southeast of the main showings. A crew was dispatched to map, prospect and sample the historical showings along with these two anomalous gold in soil areas to the north and southeast of the main showings. A total of 45 rock grab samples were collected. There is little exposure in the areas of the gold in soil anomalies, however, some minor silica veins with propylitic alteration were spotted in limited outcrop and were sampled. At the main historical Golden Stranger showings, geologists have identified hydrothermal breccias with potassic alteration and rounded altered clasts along with silica veinlets similar to the breccias at the Cliff Creek prospect at Thesis Gold’s Lawyers Project. The breccias, similar to Lawyers, contain sooty pyrite in a silica matrix with some galena spotted.
Picture1
Figure 1 – Claims Location Map for Hi-View Resources Golden Stranger claims
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Hi-View
Hi-View is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA. The Company, through its subsidiary holds interests in the Golden Stranger Property and the Lawyers West, East, South projects, together with claims acquired directly through staking, all located in the Toodoggone region of northern BC, prospective for gold, silver, and copper. The collective holdings cover 9,140 hectares.
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are 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. Forward-looking statements in this news release includes statements related to the proposed Transaction and related matters. Although the Company 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 the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
