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King Acquires Gold Project on trend with Azimut's Discovery

14.02.2020  |  The Newswire
Vancouver, February 14, 2020 - (TSXV:KING); (Frankfurt:5LM1) King Global Ventures Inc. ("King" or the "Company") is pleased to announce it has acquired the York Gold Project in N.E. Quebec. The York Gold Property is on trend (the "Elmer Trend") between Azimut's Elmer Property (and their recent Patwon Prospect discovery) and the Eleonor Gold Mine. The Eleonor Mine is hosted by rocks similar to the clastic sediments known to host the Ukaw gold showing which consists of gold-bearing quartz veins at the contact of sediments and a thin intrusive gabbro unit.

The Elmer Trend is part of an underexplored greenstone belt of the La Grande Sub-province that is considered highly prospective for intrusion-related and shear-related gold deposits. The trend is dominated by felsic volcanics, andesite, diorite, basalt, gabbro, and porphyry dykes.

The York Gold Property is comprised of 77 claims and exceeds 40 square kilometres in size. The York Property is located approximately 550 km north of Val d'Or. The region benefits from quality infrastructure that includes major access roads, a hydropower grid and airports.

The acquisition terms provide for a payment of $12,000 and the issuance of 1,250,000 units of King to the vendor. Each Unit is comprised of one common share and one twelve-month warrant. Each warrant is exercisable to acquire one share at $0.07 in the first 6 months and $0.10 in the following 6 months. The vendor retains a 2% NSR of which 1% can be acquired for $1 Million.

About King Global Ventures Inc.

King's, Nicaragua Gold/Copper Project is joint-ventured with TSX listed Calibre Mining Corp. (TSX-CXB) and with Century Mining Limited, a private Nicaraguan company, to advance the development of the Santa Rita Project.

The technical contents of this news release were approved by John F. Cook, MIMMM, a qualified person as defined by National Instrument 43-101.

Contact

For further information, contact Mr. John Cook, President of King Global Ventures Inc. at: (416) 200-8073 and johncook@kos.net

Cautionary and 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.

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of the financing, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.

The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.

Copyright (c) 2020 TheNewswire - All rights reserved.


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