VANCOUVER, British Columbia, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Gold Bull Resources Corp. (TSX-V: GBRC) (“
” or the “
”) is pleased to announce its CEO’s end of year address:
Gold Bull was born in August of 2020 and has come a long way since then, with the support of new and old shareholders and team members. Gold Bull has over the past six months established itself as a major new presence in gold exploration in the United States off the back of a new vision and three gold project acquisitions located in Nevada and Utah, USA.
I am proud to summarize that in the last few months, Gold Bull has successfully:
- Established a Company culture that is driven by a commitment to our values
- Assembled a world class exploration and development Board and Management team
- Raised CDN$13.8 million via an oversubscribed placement
- Acquired the Sandman Project, NV
- Acquired the Big Balds Project, NV
- Acquired the Coyote Project, UT
The Sandman acquisition from Newmont, includes an existing NI43-101 resource of 309,900 ounces of gold (271,900 oz Au in Measured & Indicated category plus an Inferred Resource of 38,000 oz as per 2007, NI43-101 Resource Estimate – please refer to www.goldbull.ca for more details). This gold resource underpins our current valuation and exposes our shareholders to immense exploration upside potential in 2021. Since the 2007 resource estimate was conducted at Sandman, millions of dollars of additional drilling has been completed by Newmont. Gold Bull has commissioned an updated resource estimate to incorporate the additional drilling, which is anticipated to be finished in late January. Sandman is located in a very fertile geological setting along a major gold trend in Nevada. Due to sand cover obscuring the geology, much of the project remains undrilled despite numerous compelling targets. Gold Bull is in the process of transferring the Bond and associated Permits from Newmont’s name to Gold Bull’s name. There are no claw-backs or free carried interests on the asset, Gold Bull purchased 100% of Sandman from Newmont, in cash.
Gold Bull has defined new drill targets via a 3D IP Geophysical survey that was recently completed at our North Hill prospect within Sandman. This geophysical method is proving highly effective at identifying known gold mineralisation, therefore we have great hopes for utilizing it more broadly in our exploration campaigns that are coming up. RC drilling at Sandman is anticipated to commence as soon as the permit transfers have been completed, in Q1 2021.
Most of our funds are destined to be spent at Sandman in the pursuit of more ounces and discoveries, however we also have two very compelling 100% owned exploration assets, Big Balds and Coyote Projects that represent near drill ready gold-silver targets. Our Geologists confirmed 12g/t Au + 5570g/t Ag from a recent rock chip sample taken at Coyote, these are high grades that our Company will investigate further via a drill program in 2021.
Gold Bull remains hungry for additional acquisitions motivated by our goal to grow into a mid-tier US focussed gold development Company. If we can acquire ounces cheaper than we can define them, then we believe that represents excellent value with little risk for our shareholders. Given the recent global pandemic and associated stimulus packages, our Board is bullish on the gold price and we intend to rapidly grow our ounces via a combination of additional acquisitions and exploration success.
Gold Bull’s operating culture is driven by its core values and philosophy:
- Safety - the health and safety of our employees, contractors and the public is of the utmost importance
- Teamwork – we work together with colleagues, stakeholders, governments and communities
- Respect – we recognise, respect and foster diversity
- Integrity – we do what is right, not what is easiest, driven by our ethics, transparency and moral compass
- Growth – superior performance and perpetual learning are in our core
- Environment – we all share one world, and protecting our planet is always on our mind
Communities – we aim to make a positive impact on lives, especially those near our projects
We highly value the efforts of our team, consultants and stakeholders, especially in these trying COVID times. Finally, I would like to acknowledge our shareholders, both old and new, for your support. We are looking forward to our exploration plans in 2021 and to keeping you well informed of our progress along the way. For regular updates, please feel free to follow us on social media via the links below:
President and CEO, Gold Bull Resources Corp.
About Gold Bull Resources Corp.
Gold Bull is led by a Board and Management team with a track record of exploration success. Gold Bull’s objective is to generate stakeholder value and superior investment returns through the discovery and responsible development of mineral resources.
Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company’s Chief Executive Officer. Cherie Leeden relied on information contained within the Technical Report on the Sandman Gold Project, prepared by Mine Development Associates for NewWest Gold Corporation, dated May 31, 2007. Authored by Michael M Gustin, R.P. Geo. and James Ashton, both Qualified Persons as qualified by the National Instrument NI 43-101.
Cautionary Note Regarding Forward-Looking Statements
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.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. 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”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, 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.