Update on Operations at Nalunaq
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Update on Operations at Nalunaq

Tuesday, June 23, 2020 7:00 AM
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TORONTO, ON / ACCESSWIRE / June 23, 2020 / AEX Gold Inc. ("AEX" or the "Corporation") (TSXV:AEX) is pleased to announce that it has received confirmation from the Greenlandic Covid Commission that its plan to mobilize personnel to its properties in South Greenland amid the Covid19 environment met all of the requirements of the authorities.

Since the start of the crisis in March 2020, AEX has engaged diligently with various specialists from the medical services, occupational health and safety, insurances and legal sectors as well as with the Greenlandic authorities to implement Standard Operating Procedures ("SOPs") which aim to minimize the risks of Covid19 contamination for all stakeholders, and in line with industry best practice.

The Corporation will continue to have a collaborative and proactive approach with the Greenlandic government to monitor the evolution of the crisis and has developed contingency plans to adjust for any new development in a flexible and efficient manner without materially impacting the Corporation's future plans or its assessment of the economic viability of its projects.

AEX intends to submit its Field Application documents to the Greenlandic Authorities in early July for authorization ahead of mobilizing personnel, which is expected to occur around the end of July

Eldur Olafsson, CEO of AEX Gold, comments:

"We are encouraged by the authorisation we have received from the Greenlandic Covid Commission and we look forward to welcoming back our employees and resuming the development of Nalunaq and carrying out exploration activities. We continue to work closely with the Greenland government to ensure we are following all of the guidelines in place to protect our local communities and personnel."

Stock Option Awards

The Corporation also announces that it has granted incentive stock options ("Options") to directors, officers and consultants of AEX to acquire an aggregate of 2,195,000 common shares at $0.70 per share, with an expiry date of December 31, 2026.

END

Contact Information

George Fowlie, Director and CFO
1-416-587-9801
[email protected]

Eldur Olafsson, Director and CEO
+354 665 2003
[email protected]

Camarco (Financial PR)

Gordon Poole / Nick Hennis
+44 (0) 20 3757 4980

About AEX

AEX's principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation's principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events and the future growth of the Corporation's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the Final Prospectus available under the Corporation's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AEX Gold Inc.

AEX Gold Inc.
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