TORONTO, ONTARIO–(Marketwired – June 9, 2016) – Rupert Resources Ltd. (“Rupert” or the “Corporation“) (TSX VENTURE:RUP) announces that it will launch its inaugural drill program next week on the permitted Pahtavaara gold mine, located in Northern Finland, that it has optioned for the six month period ending September 15, 2016 (see the Corporation’s March 17, 2016 press release). This drilling program will seek to expand reserves and resources at the mine’s open pit and underground targets, centering on the Karolina orebody discovered before the mine ceased its operations in 2014.
“The exploration potential at Pahtavaara is an excellent challenge for our exploration team and if successful can permit the mine to return to production as a low cost producer of gold. The abundance of targets close to production infrastructure inside Pahtavaara’s 124 square kilometer land position offers the possibility for significant growth for Rupert Resources,” commented Brian Hinchcliffe, President and CEO of Rupert. “As the company steps up its corporate activity, we are pleased to have Susan Milton join the Board.”
Susan Milton has been appointed as a Non-Executive Director and to the Audit Committee of the Corporation. Susan has two decades of experience as an investor and investment advisor with a focus on the mining sector. Ms. Milton began her career at Moss Lawson & Co before continuing at Richardson Greenshields & Sons, RBC Dominion Securities, Ocean Equities and Macquarie Private Wealth. Ms. Milton holds an MBA with a specialization in Financial Management & Markets from Arizona State University.
Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Corporation holds an option to acquire the Pahtavaara gold mine, mill and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland for US$2.5 million in total consideration (see the Corporation’s March 17, 2016 press release). It also holds a 100% interest in the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake Mining Division of Ontario.
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.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which may constitute “forward-looking statements”, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to the future business activities, operating performance of the Corporation and with respect to the Pahtavaara gold mine, mill and exploration claims during the six month option period. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Corporation, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Corporation’s annual Management’s Discussion and Analysis for the year ended February 28, 2015 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.