VANCOUVER, BC, OCTOBER 1, 2020 – Gold Plus Mining Inc. (“Gold Plus” or the “Company”) (CSE :GPMI) (OTC: GPMNF) (FSE: 1I3) is pleased to announce that Minroc Management Limited (“Minroc”) has commenced a detailed work program on its 100% owned, Pluto Property group, contiguous to Kenorland Minerals “Chebistuan” project, that is currently optioned to Newmont Mining, in the prolific Abitibi Greenstone Belt, Quebec.
Both of the Pluto properties are made up of a series of crustal scale deformation zones and highly prospective sedimentary-volcanic rock contacts. The properties are located approximately 40km west of the Chibougamau mining camp and 10km west of the Chapais mining camp (6.5 M oz Au; 2.7 B lbs Cu of historic production). The Chibougamau camp has historically been mined and explored for Cu-Au mineralization but the recent discovery of the Nelligan deposit (IAMGOLD – Vanstar Resources) highlights the regional potential for orogenic gold mineralization which has been overlooked in the past.
The anticipated work program on Gold Plus’ Pluto properties intends to leverage recent and historic work, both on the property and adjacent to the property, in order to identify high priority targets for its Fall 2020 prospecting program as well as to plan a potential upcoming drill program.
Data sources available for the targeting program include geophysics, geochemical surveys, and drill data. Collectively these demonstrate local mineralized trends, which may carry onto Pluto ground, including in previously unexplored areas, as well as mineralization present on the properties which require follow-up work.
.About the Pluto Properties – Chapais-Chibougamau Mining Camp, Quebec
The Pluto properties are located west of the town of Chibougamau, Quebec, which provides excellent infrastructure and an experienced local workforce for exploration and mining activities. The Pluto Properties have been under-explored for base and precious metals and historic assay results returned Cu-Zn-Au-Ag values. Some historic diamond drill holes returned visible sulfide mineralization and VMS showings (Dolomieu-Sud). Recent exploration work completed at Pluto resulted in anomalous gold and base metals values in till samples and three distinct anomalous zones were outlined.
The technical information in this press release has been reviewed and approved by Brian H. Newton P.Geo, a “qualified person” pursuant to NI 43-101.
Also, the Company has granted 400,000 stock options at an exercise price of $0.13 for a six month term to consultants of the Company pursuant to its Stock Option Plan.
About Gold Plus Mining Inc.
Gold Plus Mining is a publicly-traded exploration company focused on the development of highly prospective, discovery-stage mineral properties located in some of Canada’s top mining jurisdictions. Our growing portfolio of mineral properties exhibits favorable geological characteristics in underexplored areas within the prolific “Golden Triangle” of British Columbia, the Mineral Rich “Red Lake” mining camp of Northwestern Ontario, and the “Chapais-Chibougamau” mining camp, the second-largest mining camp in Quebec, Canada.
ON BEHALF OF THE BOARD
CEO & Director
For more information on Gold Plus Mining, please contact:
Mr. Spencer Smyl – CEO & Director
E-mail: [email protected]
Corporate e-mail: [email protected]
Corporate Address: 303 – 570 Granville Street, Vancouver, BC, V6C 2P1
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this news release includes, but is not limited to: the expected exposure of the campaign being substantial as a result of the large following of the Foundation.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations; dilution; limited history of operations and revenues and no history of earnings or dividends; competition; economic changes; and the impact of and risks associated with the ongoing COVID-19 pandemic. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
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