Rouyn-Noranda, Québec, Canada, December 28, 2023 – Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV-FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it has retained the services of ALS Goldspot to review the results of the spring and summer exploration programs on the Galloway Project in order to better define future drill targets on the western portion of the property. This follows their review of the geological models and completion of the historical data for the entire Galloway property that was completed earlier in the calendar year.
FOKUS has also recently retained InnovExplo Inc. to review existing data and assess the potential for the Hendrick Zone to extend eastwards, as well as the potential of the GP and RB mineralised zones at depth. InnovExplo is the independent firm that prepared the first NI43-101 compliant mineral resource on Galloway (press release dated March 23, 2023).
Jean Rainville, President, and CEO commented: “We strive to optimise the dollars spent on our drilling campaigns, and we believe it is extremely important that independent parties constantly review our geological models and help us better define our drill targets”.
In addition, the Company highlights the progress made by Mosaic Minerals (MOC.CN), in which Fokus remains a significant shareholder (see Mosaic press release dated December, 5 2023). Mosaic is focused on the exploration of critical elements such as nickel and lithium in the province of Quebec.
In other news, (as an update of the press release dated November 29, 2023, in which we had announced this agreement) Fokus had signed on April 17, a six-month sponsorship agreement with Rocks and Stocks News reports based in Mexico.
The sponsorship program which consisted mainly in a video that was prepared under the form of questions and answers and was posted on their website. The Company and the sponsor are unrelated and unaffiliated entities, and the sponsor may purchase securities and or sell them for investment purposes. The Sponsor is not currently a shareholder of the Company.
The Company has also recently announced (also in the press release dated November 29, 2023) that it has engaged Miami based Phenom Ventures LLC to execute a Sponsorship marketing campaign on Gold Investment Letter website for the Company to heighten market awareness and broaden the Company’s reach in North America through articles in writing in their Letter. The Company’s primary contact with the sponsor is Mr. Eric Muschinsk who has worked between Wall Street and Silicon Valley for almost 30 years in fields from venture capital to every fact of the public capital markets. The Company and Phenom are unrelated and unaffiliated entities. In consideration of the services, the Company paid in full at the beginning of the contract a fee of $50,000 for a term of one month which began on November 29, 2023. At its sole discretion the sponsor may purchase and or sell securities for investment purposes securities in the Company. The Sponsor is currently a shareholder of the Company.
Qualified Person
The scientific and technical disclosure for Fokus included in this news release have been reviewed and approved by Gilles Laverdière, P. Geo. Mr. Laverdière is a director of the Company and qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”).
About Fokus Mining
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Québec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.
The Galloway project covers an area of 2865.54 hectares and is located just north of the Cadillac-Larder Lake deformation which extends laterally for more than 100 km. Numerous gold deposits are related to that structure and its subsidiaries. The current work focuses on a small western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.
For further information:
Jean Rainville, President & Chief Executive Officer
Tel.: (514) 918-3125, Fax: (819) 762-0097
Email: jrainville@fokusmining.com
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Caution Regarding Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of the Company, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement or the result of, or benefits the Company will obtain from such exploration work or if it does, from any exploration works or drillings to be conducted on Fokus’ Galloway property or if it does. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk and Uncertainties” and “Financial Risk Management Objectives and Policies” in the Company’s Annual Report for the fiscal year ended December 31, 2022, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.