Vancouver, British Columbia – September 27, 2018: First Legacy Mining Corp. (the “Company”) (TSX-V: FLM) is pleased to announce that further to its news releases on August 31, 2018, September 18, 2018 and September 19, 2018, it has closed a non-brokered private placement of 3,823,333 units (each a “Unit”) for total gross proceeds of $573,500 (the “Private Placement”). As previously disclosed, each Unit was priced at $0.15 and is comprised of one common share and one common share purchase warrant (“Warrant”). Each Warrant is exercisable to purchaseone common share of the Company at a price of $0.30 per share for a period of 24 months from the closing date.
The securities issued pursuant to the Private Placement are subject to a four month hold period from the closing date in accordance with applicable Canadian securities laws. Pursuant to the closing of the Private Placement, the Company paid a cash finder’s fee commission to qualified non-related parties of $16,362.50.
As previously disclosed, the proceeds from this financing will be used for exploration on the Company’s propertiesand for general working capital purposes.
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.
Contact Information – For more information, please contact: Max Sali, Chief Executive Officer
Tel: (604) 367-8117
Cautionary Statement Regarding “Forward–Looking” Information.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicablesecurities law, including without limitation, statements that address the Lac Burge property and the Geiger North Property, comments regarding the timing and content of upcoming work programs, 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” betaken, occur or be achieved), and variations of such words, 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 theCompany’s planned exploration activities will be available on reasonable terms and in 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 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 licences 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’sexpectations; (ix) exploration and 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 uncertainty ofprofitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risksassociated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), 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 of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks relatedto current global financial conditions; and (xx) other risks and 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 Lac Burge property or the Geiger North Project. 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.