TORONTO, ON / ACCESSWIRE / March 27, 2017 / Golden Share Mining Corporation (TSX-V: GSH) (OTC PINK: GLDMF) ("Golden Share" or the "Company") is pleased to announce that it has recently acquired an additional 5% interest in the 15-unit mining claim that hosts the past producing Berens River Mine. This transaction gives Golden Share a total of 80% interest in the mining claim. The Company intends to acquire the remaining 20% interest by continuing monthly installments of CAD $2,500 till May 15, 2019.
The Berens River Project (the "Project") is located 200 km north of Red Lake, in the Favourable Lake Greenstone Belt of Northwestern Ontario. The Project is comprised of 29 mining claims (339 units) and includes the past producing Berens River Mine which was operated by Newmont Mining from 1939 to 1948. The Berens River Mine is reported to have produced 158,000 ounces of gold at an average grade of 9.6 g/t, 5.8 million ounces of silver, 1.7 million pounds of zinc and 6.1 million pounds of lead (Ontario Ministry of Northern Development and Mines Mineral Deposit Inventory). As of today, the company now owns 100% of 28 claims (324 units) and 80% of the 15-unit mining claim hosting the Berens River Mine.
The encouraging results from the Orientation Ground IP/Magnetic and Soil Sampling Programs conducted during the fall of 2016 demonstrate the continued exploration potential of the Berens River Project. Golden Share will now proceed with planning for an airborne VTEM survey over the entire Berens River Project. The VTEM survey will test for potential base metal massive sulphide conductors within the volcanic rock sequence in the eastern and southern parts of the project. The magnetic component of the VTEM survey will assist in delineating stratigraphic and structural trends within the project.
The Company is also pleased to announce the sale of 1% royalties on the Malartic Lake Shore Property and Forsan Property in the province of Quebec to Khalkos Exploration Inc. ("Khalkos") for the 750,000 Common Shares of Khalkos and a CAD5,000 payment. Khalkos acquired the 100% interests of the two properties from Golden Share in November, 2015. Please refer to Press Releases dated November 23 and December 21 of 2015.
The sale of the royalties as noncore assets will improve the Company's financial strength and also help Golden Share continue to focus on Berens River, the Company's core asset.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Wes Roberts, P. Eng., a Qualified Person under NI 43-101.
About Golden Share
Golden Share Mining Corporation is a Canadian junior mining company focusing on exploration in Ontario, the politically stable jurisdiction with a history of rich mineral endowment.
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 MORE INFORMATION, CONSULT www.goldenshare.ca OR CONTACT:
Golden Share Mining Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: [email protected]
SOURCE: Golden Share Mining Corporation