VANCOUVER, BC / ACCESSWIRE / July 4, 2022 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(FSE:4E7)(OTCQB:SSYRF) is pleased to provide the following corporate update as the Company mobilizes crews to its 100%-owned Foremore Project in Northwest B.C.'s prolific Eskay Camp to commence drilling at the Westmore Gold Discovery.
Name Change
Over the coming weeks, Sassy Resources Corp. will change its name to "Sassy Gold Corp." to better reflect the Company's renewed focus on its flagship Foremore high-grade gold project. Sassy's trading symbols on the CSE, OTCQB and Frankfurt stock exchanges will remain the same, and there will be no changes to the Company's capital structure.
"The rebranding of Sassy Resources to Sassy Gold is a natural step given the growing significance of Foremore and our direct exploration opportunity within one of the world's premier gold camps," stated Mr. Mark Scott, Sassy CEO. "Foremore provides exciting and immediate upside potential for shareholders while our long-term value proposition has never been better with our significant equity stake in the Newfoundland Gold Rush (Gander Gold and Galloper Gold) and our investment in MAX Power Mining."
Sassy's new website will be unveiled shortly in conjunction with the name change. For now, investors can visit SassyResources.com.
Strategic Financing
Sassy has arranged a hard dollar private placement of up to $3.2 million driven by several new strategic investors in Canada and Europe. The financing comprises up to 16,410,256 shares at 19.5 cents per share with no warrants. It is expected to be fully subscribed and will close on or about July 8, 2022, subject to final approval by the CSE. Funds will be used for exploration at Foremore and general corporate purposes.
"We're delighted at securing new investors to add to an already strong retail following as we enter an exciting new period in the young history of Sassy," stated Mark Scott. "We have carefully managed our share structure over the past two years, allowing us to take advantage of a special opportunity like we have now to ignite our business and market efforts at the right time in the gold cycle."
Foremore Drilling
Drilling at Foremore will commence during the second half of July and will initially focus on the 4 Amigos Vein where four of the last five drill holes intersected visible gold including 86.4 g/t Au and 41.6 g/t Ag over 0.7 m within a core length of 1.4 m grading 43.2 g/t Au and 20.8 g/t Ag starting just 8.7 meters downhole in WM21-015 (refer to March 3, 2022 news release).
4 Amigos is one of multiple vein structures at Westmore carrying high-grade gold.
Gold occurs in quartz veins within the Westmore intrusive and surrounding volcanic rock, elevating the potential of this exciting new target displaying classic Eskay Camp signatures.
Mineralization at Westmore extends to a depth of at least 400 meters and remains open in multiple directions.
Foremore Project Map
Sassy Resources Corporation, Monday, July 4, 2022, Press release picture
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle. Sassy is also earning up to a 100% interest in the Highrock Uranium Project in the Key Lake region of Saskatchewan. Sassy also holds significant equity positions in Gander Gold Corp., Galloper Gold Corp., and MAX Power Mining Corp.
This news release contains "forward-looking statements" and "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. 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", "continues", "projects", "potential", "budget" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-looking statements pertaining to: the closing of the Transaction and the ability for the Transaction to enhance shareholder value.
Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements are made, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that such statements and information will prove to be correct and such statements do not guarantee future performance. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to known and unknown risks, including those set forth in the Company's Management Discussion and Analysis (a copy of which can be found under Sassy's profile on SEDAR at www.sedar.com). Accordingly, readers should not place undue importance or reliance on the forward-looking statements. Readers are cautioned that the list of factors is not exhaustive. Statements, including forward-looking statements, contained in this news release are made as of the date they are given and the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with applicable securities regulatory authorities and may be accessed under the Company's profile on SEDAR at www.sedar.com.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
