Private Anyone know who 'pivate group of knowledgeable mining investors" SHL.v signed JV with? Why the secrecy? If knowledgeable and reputable group it would increase profile of property if it was able to attract such a knowledgeable and reputable group of experts. Again, why is this a secret? Spruce Ridge forms JV for Crawford exploration 2021-03-08 13:35 NT - News Release Mr. John Ryan reports SPRUCE RIDGE FORMS JOINT VENTURE WITH PRIVATE GROUP TO EXPLORE VMS AND GOLD TARGETS ON CRAWFORD PROPERTY Spruce Ridge Resources Ltd. has formed a joint venture with a private group of knowledgeable mining investors to explore volcanic massive sulphide (VMS) and gold targets on its Crawford township property. Crawford township is located within the Abitibi clay belt where clay and till cover averages 30 metres (m). There is very little outcrop of geology and, as a result, exploration programs rely heavily on geophysical and geochemical methods and drilling. The geology in the Timmins area consists of east-west-trending volcanics, sediments, gneisses and ultramafic intrusions. All rock units have been significantly altered, with some units intruded with gold-rich hydrothermal fluids. The area is thus highly prospective for gold, volcanogenic massive sulphide deposits (such as Kidd Creek, located 18 kilometres (km) south of Crawford) and nickel-copper-platinum group element (PGE) deposits. A number of drill targets have been identified and it is anticipated that drilling will commence immediately, subject to receipt of drilling permits where required. The targets selected for drilling on this program were derived from high-resolution airborne magnetic, electromagnetic and gravity surveys flown in 2017 and 2019. Historical drilling, available from the public domain, was also reviewed. An artificial analysis of all the data was performed by Windfall Geotek Inc. (formerly Albert Mining Inc.) using its proprietary system known as CARDS (computer-aided resources detection software) and priority target areas selected independently. These target areas were merged with the Spruce Ridge interpretation prior to selection of final drill targets, with some drill holes collared within the CARDS target areas. Spruce Ridge sold its interest in mineral claims and various patented properties to Canada Nickel Company Inc. (see news release dated Feb. 19, 2020). At that time, a new agreement between Noble and Spruce Ridge was established regarding the transfer of the ownership of the mineral claims and the various patented properties on an as-is, where-is basis, providing that Noble has the right to acquire up to a 25-per-cent interest in the Crawford VMS assets, exercisable at any time by making a payment to Spruce Ridge in the amount of the pro rata costs of exploration expenditures incurred by Spruce Ridge on the Crawford VMS assets and, for greater certainty, also providing Spruce Ridge with the right to exchange and substitute other potential VMS properties (being patented properties or mineral claims) held by Noble within Crawford township with properties of the same size from the Crawford VMS assets on the same terms as provided in the Crawford 2020 joint venture (JV) agreement. John Ryan, Spruce Ridge's president and chief executive officer, commented, "We are very pleased to have been joined by this private investor group who have in the past enjoyed tremendous success in early-stage exploration activities." Joint venture terms During the first year of the Crawford 2021 JV agreement, exploration expenses will be split 60/40, with the investor group paying 60 per cent of exploration expenses. After year 1 of the joint venture, all exploration expenses will be split 50/50. About Spruce Ridge Resources Ltd. Spruce Ridge holds a 100-per-cent interest in the Great Burnt copper-gold property in central Newfoundland, which covers a series of copper-plus-or-minus-gold-rich VMS deposits. Spruce Ridge sold its interest in the Crawford nickel-cobalt sulphide project to Canada Nickel Company but retained ground which contains VMS and gold targets. Spruce Ridge holds 8.1 million shares of Canada Nickel Company and 10 million shares of Noble Mineral Exploration Inc. Spruce Ridge has an option agreement with Magna Terra Minerals Inc. on its Viking/Kramer gold properties in western Newfoundland. Colin Bowdidge, PhD, PGeo, a qualified person under National Instrument 43-101 and the vice-president of exploration for Spruce Ridge, has reviewed and approved the technical contents of this press release. We seek Safe Harbor. 2021 Canjex Publishing Ltd. All rights reserved.