Vancouver, British Columbia – November 5, 2018: First Legacy Mining Corp. (the “Company”) (TSX- V: FLM) is pleased to announce that it has completed an interpretation of the assay results from its fall soil sampling program at the Lac Burge Gold Project in Quebec. A total of 428 samples were collected and submitted for analysis. Samples were taken from the northern and western claim blocks, where the 2018 ground magnetic and VLF-EM data indicated the presence of subsurface conductors. Samples were taken at 100 m intervals along north-south oriented lines spaced 100 m apart.
Of the 428 samples analyzed, 46 returned gold values at or above the minimum detection limit of 5 ppb Au. Of these, 3 samples returned values greater than 20 ppb Au, the highest sample measuring 65 ppb Au. Copper values were also generally low, with a maximum value of 46 ppm Cu. The highest gold and copper values show a good correlation with mapped structures and/or interpreted VLF-EM conductors.
Gold in soil values, including the 65 ppb Au sample, define a northeast trending anomaly in the western claim block, parallel to previously identified VLF-EM conductors and mapped faults. Copper in soil values show a similar, northeast trend.
In the northern claim block, gold and copper in soil values define a northwest trending anomaly, corresponding with interpreted VLF-EM conductors and oblique to the regional northeast magnetic and geologic trends.
All soil samples were submitted to the ALS Geochemistry Lab in Val d’Or, Quebec for sample preparation, and analysis by 50g gold fire assay (ALS code: Au-AA24) and multi-element ICP-AES (ALS code: ME- ICP41). ALS Val d’Or maintains ISO/IEC 17025:2005 accreditation. Given the reconnaissance nature of the samples, the Company has relied on the external QA/QC of ALS which included the insertion of standard, blank and duplicate samples at a rate of 10% into the sample stream to confirm the accuracy of the reported results.
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a“Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About First Legacy Mining Corp.
First Legacy Mining Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties.
On behalf of the Board of Directors, Max Sali, CEO & Director
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Cautionary Statement Regarding “Forward–Looking” Information.
This news release includes certain statements that constitute “forward-looking information” within the meaning ofapplicable securities law, including without limitation, statements that address the Lac Burge property, and other statements relating to the business prospects of the Company.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of suchwords, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward- looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms andin a timely manner. While such estimates and assumptions are considered reasonable by the management of the
Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licenses and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) explorationand development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertaintyof profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generallyreferred to as “social license”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development ofthe Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risksand uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others,could cause actual results and events to vary significantly.
There can be no assurance that economic resources will be discovered or developed at the Company’s projects.Accordingly, actual results may differ materially from those currently anticipated in such statements.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, equipment failures, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.