Wildsky Resources Inc. Announces Exercise of Cassiar Option
Vancouver, October 19, 2020 - Wildsky Resources Inc. (NEX: WSK.H) (the "Company") is pleased to announce that Cassiar Gold Corp. (formerly, Margaux Resources Ltd.) (TSXV: GLDC) has exercised its option to acquire 100% of the Company's Table Mountain property located in Cassiar, British Columbia.
Wildsky has received a total of 11,640,000 common shares of Cassiar Gold Corp. at a total value of $9,312,000 based on market closing price on Friday, October 16, 2020.
With respect to the Company's proposed acquisition previously announced on December 5, 2019, the Company is working with the TSX Venture Exchange (the "Exchange") to complete its proposed acquisition of ten exploration licenses (the "Exploration Licenses") located in Nigeria. Three of the Exploration Licenses pertain to niobium-Tantalum exploration, and the remaining seven Exploration Licenses are for gold and lead-zinc exploration. On August 24, 2020, Wildsky received conditional approval from the Exchange for both the proposed acquisition and reactivation from the NEX. The Company is currently working on satisfying all of the conditions, including closing of the $800,000 private placement previously announced on March 23, 2020.
About Wildsky Resources Inc.
Wildsky Resources Inc. is a Canadian based exploration and development company with an office located in Vancouver, B.C. The Company's goal is to create value for shareholders through continuously exploring and developing its current properties in BC and at the same time looking for new properties to acquire through its international connections.
For more information on Wildsky Resources, please contact the Company at (778) 889-4966, or visit the Company's website at www.wildskyresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"signed by Wenhong Jin"
President and CEO
Neither 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 of accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Wildsky Resources' periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "appear", "should," and similar expressions, are forward-looking statements.
Although Wildsky Resources has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Wildsky Resources disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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