Rouyn-Noranda, Quebec, Canada, October 6, 2022 – Fokus Mining Corporation, (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) is pleased to announce that the metallurgical tests required to complete its independent NI43-101 resource estimate are now underway and will be completed by the end of October. The selection and preparation of the samples and the test protocols were conducted independently (see press release dated August 30, 2022).
Drill core samples were provided from the Hendrick and GP zones to prepare composites. Test work includes mineralogy, head samples, assays, grindability, gravity recovery tests and cyanidation tests. Composites and residues from cyanide tests will be stored and frozen to avoid degradation in the event that additional testing is later planned. It should also be noted that sufficient samples have been prepared to duplicate all ongoing tests if necessary.
“We are very happy to complete these test sequences to finalize the NI 43-101 Compliant Resource Estimate. We think that the results to come from this latter material requirement will be consistent with our own estimations and that they will provide us with a high degree of confidence in our models.” said Jean Rainville, President and CEO of the Company.
In other news, the Company is pleased to announce the results of its Annual Meeting of Shareholders (AMS) held on August 31, 2022, in Rouyn-Noranda, Quebec. At the AMS, Fokus shareholders re-elected Jean Rainville, Sylvain Champagne, Gilles Laverdière, Marc-André Lavoie, Ciro Cucciniello and Steve Duchesne as directors of Fokus. Following the Shareholders Meeting, Fokus Board of Directors re-appointed Jean Rainville as President and Chief Executive Officer and Sylvain Champagne as Corporate Secretary and Chief Financial Officer of the Company.
At the AMS, Fokus shareholders also approved resolutions (i) re-appointing Raymond Chabot Grant Thornton LLP, Chartered Professional Accountants, as the auditor of Fokus, and (ii) ratifying, approving, and confirming Fokus’ stock option plan.
This press release was approved by Gilles Laverdière, P. Geo and Qualified Person under National Instrument 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 Quebec, 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 2,865.54 hectares and is located just north of the Cadillac -Larder Lake deformation which extends laterally for more than 100 kilometres. Numerous gold deposits are related to that structure and its subsidiaries. The Company is currently focusing its exploration efforts on a small western portion of the mining claims where several mining occurrences have been identified. For more information, please visit our website at:
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 or accuracy of this release.
For further information: Jean Rainville, President & Chief Executive Officer
Tel.: (514) 918-3125, Fax: (819) 762-0097
Related Links : https://fokusmining.com/
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.