Toronto, Ontario--(Newsfile Corp. - June 8, 2018) - RosCan Minerals Corporation (TSXV: ROS) ("RosCan" or the
"Company") is issuing a correction to its previously disseminated news release dated June 7, 2018. The correction is limited to
the Company's remaining payments pursuant to the agreement (b) pay to Pelangio an aggregate of $150,000 as follows:
Amount |
Due Date |
|
|
$50,000 |
On December 5, 2018; and, |
|
|
$100,000 |
On December 5, 2019 |
It is now being corrected to "(b) pay to Pelangio an aggregate of $250,000 as follows:
Amount |
Due Date |
|
|
$50,000 |
On December 5, 2018; and, |
|
|
$200,000 |
On December 5, 2019" |
RosCan Minerals Corporation ("RosCan" or the "Company") (TSXV: ROS) reports that the remaining
payments to be made by the Company to earn a 50% interest in the Dormaa Project in Ghana, pursuant to the option and joint venture
agreement made with Pelangio Exploration Inc. ("Pelangio"), have been extended by an additional six months. The extension was
necessitated by the delay in commencing the drill program which is currently underway. Exploration results will be released once
received.
RosCan's remaining payments pursuant to the agreement are now as follows:
(a) fund $1,700,000 in exploration expenditures, as follows:
Amount |
Due Date |
|
|
$700,000 |
By December 5, 2018; and, |
|
|
$1,000,000 |
By December 5, 2019. |
(b) pay to Pelangio an aggregate of $150,000, as follows:
Amount |
Due Date |
|
|
$50,000 |
On December 5, 2018; and, |
|
|
$100,000 |
On December 5, 2019 |
ABOUT ROSCAN
RosCan Minerals Corporation is a Canadian gold exploration company focussed on West Africa. The Company has assembled a
significant land position of 100%-owned permits in an area of large gold deposits for its Kandiole Project in west Mali. RosCan is
also exploring the gold potential of the early exploration stage Dormaa Project in Ghana, in which RosCan can earn a 50% interest
through an option agreement with Pelangio Exploration Inc.
For further information, please contact:
Greg Isenor
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
Email: info@roscan.ca
Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking
information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those
expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in
commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral
exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed
under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and
assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory
approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The
Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by
applicable securities laws.
Neither the 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.