VANCOUVER, British Columbia, May 17, 2018 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (TSX-V:KTO) is pleased to announce that it has completed staking of 123 State of Alaska mining claims known as the McArthur Creek Property (“McArthur” or “the Property”) located in east-central Alaska, USA, 30 km northeast of Northway, Alaska and 130 km southwest of Dawson City, Yukon. The project is located on the Alaska-Yukon border, proximal to K2’s Ladue Property and covers approximately 7400 ha. The new claims are pending filing and official adjudication with the Alaska State Department of Natural Resources in Fairbanks, AK.
The Moosehorn Range area is located along the trace of the arc-related 110 – 70 Ma Tintina Gold Belt, an arcuate band of felsic intrusions extending from southwest Alaska through the Fairbanks, Alaska and Dawson City, Yukon areas, then southeast to the Yukon-British Columbia border. To date, the Moosehorn Range is host to active placer gold mining operations and has produced over 100,000 ounces of placer gold and 4000 ounces of lode gold. While historical exploration has been concentrated on the Canadian portion of the range, the Alaskan side of the range has seen very little modern exploration.
Jo Price, VP Exploration commented, “Exploration thus far on the Canadian side of the border seems to indicate that there is an extensive orogenic style mineralised gold system in the range. The McArthur Creek project represents a large, prospective district scale opportunity in an area that has seen limited exploration to date.”
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Following a review of available data for the property and positive adjudication by Alaska State Department of Natural Resources, K2 will develop a work program and budget which will be released when available.
About K2 Gold Corporation
K2 Gold Corporation is a junior mineral exploration company focused on building a portfolio of gold exploration projects in the Yukon, including the Wels Property located approximately 185 km south of Dawson City, Yukon. In addition to Wels the Company is conducting exploration at the Flume, Storck and Ladue properties in the South Klondike district north of Wels. The Company has assembled an experienced management team and board of directors with a track record of discovery success.
Jo Price, P.Geo., VP Exploration of K2 and a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information on this release.
For additional information please contact Stephen Swatton at 604-331-5093.
On behalf of the Board of Directors,
President and CEO
K2 Gold Corporation
This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding the 2017 exploration program at the Wels Gold, Storck, Ladue and Flume Properties (collectively the “Properties”), including results of drilling, and future exploration plans at the Properties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to reach satisfactory agreements with First Nations to facilitate its exploration and development plans for the Wels Property, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. No securities of the Company have been or will, in the foreseeable future, be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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