Toronto, Ontario – February 04, 2020 – Orefinders Resources Inc. (“Orefinders” or the “Company”) (TSX.V: ORX) is pleased to announce the commencement of a $500,000 non-brokered financing. The net proceeds of this financing will be used for a drill program on its 100% owned Knight Gold Project and for general working capital.
The terms of the financing are as follows:
Details of the Drill Program
Orefinders has outlined three distinct targets on its Knight Gold Project which it plans to drill in 2020. Each of the three targets has distinct geological styles and have never been previously drill tested. Orefinders views the Knight Project as having highly prospective geology within a large mineralized system, with gold having been deposited over a protracted period. The geology of the Knight Project is complex and has similar features to those found in the Kirkland Lake-Larder Lake camp 110 km to the northeast. Orefinders Knight Project is permitted to drill.
The untested drill targets include:
Any accredited investors interested in participating in this private placement should contact Stephen Stewart at the email or phone listed on this news release.
Completion of the Financing remains subject to the approval of the TSX Venture Exchange. The financing may include any combination of Hard Dollar Units and Flow Through Units. All securities issued pursuant to the Financing will be subject to a statutory four month and one day hold period. Subscription agreements are available upon request. The financing is only available to accredited investors.
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for Orefinders, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.” For the exploration undertaken by Orefinders all assay batches are accompanied by rigorous Quality Assurance procedures that include insertion of standards and blanks and verification assays in a secondary laboratory. Quality Control results, including the laboratory’s own control samples, are evaluated immediately on reception of batch results and corrections implemented immediately if necessary.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused exclusively within the Abitibi Greenstone Belt. The Company is listed on the Toronto Venture Exchange under the symbol ORX.
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. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders’ assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders’ profile at www.sedar.com.
For the latest updates please contact or follow us on Twitter @OrefindersR
To Speak to the Company directly, please contact:
Stephen Stewart, Chief Executive Officer