NANAIMO, BRITISH COLUMBIA–(Marketwired – June 2, 2016) – Troymet Exploration Corp. (TSX VENTURE:TYE) (“Troymet” or the Company is pleased to report the successful completion of the Phase I RC drill program on its Wildcat gold-silver project in Juab County, Utah, held under option from Renaissance Gold Inc. (TSX VENTURE:REN). Ten holes (1,321.2 metres) were drilled:
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Drilling tested structural and stratigraphic targets, alteration zones including de-calcification zones in carbonates, silicification-jasperoids, oxidation after sulphides and geochemical anomalies (News Release of May 10, 2016).
Drill samples will be analyzed by ALS Global, Reno, an ISO/IEC 17025:2005 accredited facility. Results will be reported once received, interpreted and validated.
Troymet, through its wholly owned subsidiary Troymet USA LLC (“Troymet USA”), holds an option to acquire a 70% interest in the Wildcat property from Renaissance Exploration, Inc. (“RenEx”), a wholly owned subsidiary of Renaissance Gold Inc. Under the terms of the option agreement, Troymet USA has retained RenEx as its contractor to take advantage of RenEx’s expertise and established infrastructure. Troymet USA is exclusively responsible for the planning, execution and supervision of all exploration programs.
President and CEO, Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
About Troymet Exploration Corp.
Troymet Exploration Corp. is a junior exploration company with a solid treasury and with projects in British Columbia (Redhill and Golden Eagle), Manitoba (McClarty Lake) and Utah (Wildcat). Troymet operates the Wildcat, Redhill and Golden Eagle projects. Hudbay Minerals Inc. is the operator of the McClarty Lake joint venture and must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest. Troymet retains a 2% net smelter returns royalty (NSR) on the Key property, British Columbia, which was sold to New Gold Inc. in 2013.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
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 news release.
This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of: the Wildcat Project, including the exploration potential and analogous deposit potential of the Wildcat Project; future data analysis, sampling plans and exploration plans on the Wildcat Project; exploration targets and the potential of such exploration targets; and the Phase I drill program of the Wildcat Project, including the commencement of drilling, the budgeted metres to be drilled and the number of drill holes in Phase I. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects Troymet’s current beliefs and is based on information currently available to Troymet and on assumptions Troymet believes are reasonable.
These assumptions include, but are not limited to: the current share price of Troymet’s common shares and the ability to raise future equity financing, if needed, at prices acceptable to Troymet; Troymet’s current and initial understanding and analysis of the Wildcat Project; the ability of Troymet to discover viable exploration targets and the results of exploration on the Wildcat Project; Troymet’s general and administrative costs remaining constant; Troymet’s cost assumptions for its exploration programs at the Wildcat Project and the market acceptance of Troymet’s business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Troymet to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Troymet and its projects, and in particular, the Wildcat Project; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting Troymet; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in Troymet’s disclosure documents on the SEDAR website at www.sedar.com. Troymet does not undertake to update any forward-looking information except in accordance with applicable securities laws.