VANCOUVER, Nov. 14, 2018 /CNW/ - First Legacy Mining Corp.
(the "Company") (TSX-V: FLM) is pleased to announce that it has signed an agreement to acquire two mineral claims
totalling approximately 8129.80 hectares located in the Athabasca Basin in Saskatchewan, Canada, known as the "Klaproth and Klaproth East Claims" (the "Property") by issuing
1,800,000 common shares and paying $10,000 in cash to the two arm's length vendors (the
"Vendors") of the Property. The acquisition of the Property and the issuance of the common shares are subject to TSX
Venture Exchange approval. The common shares to be issued to the Vendors will be subject to a four month hold period from the
date of issuance.
"We are excited by the positive momentum being shown in the uranium sector, with the uranium spot price reaching 30-month
highs. We are pleased to be adding to our project portfolio in the northeastern Athabasca Basin,
and with this acquisition it will bring our total land package to over 23,000 acres." commented Max
Sali, CEO and Director of the Company.
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J.
Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a
"Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral
Projects.
About First Legacy Mining Corp.
First Legacy Mining Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral
resource properties.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of
applicable securities law, including without limitation, statements that address the acquisition of the Property and the issuance
of the common shares, and other statements relating to the business prospects of the Company.
Forward-looking statements or information address future events and conditions and are necessarily based upon a number of
estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates"
or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not
statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a
number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially
different from future results, performances or achievements express or implied by such statements. Such statements and
information are based on numerous assumptions regarding present and future business strategies and the environment in which the
Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that
general business and economic conditions will not change in a material adverse manner, that financing will be available if and
when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other
approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely
manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently
subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of
activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without
limitation: (i) risks related to gold, copper and other commodity price fluctuations; (ii) risks and uncertainties relating to
the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and
the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v)
that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi)
that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional
funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with
the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns,
labour disputes or other unanticipated difficulties with or interruptions in exploration and development; * competition; (xi) the
potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the
uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and
liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred
to as "social licence"), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government
permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi)
risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration;
(xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's
prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary
significantly.
There can be no assurance that economic resources will be discovered or developed at the Company's projects. Accordingly,
actual results may differ materially from those currently anticipated in such statements.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not
limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key
directors, employees, advisors or consultants, adverse weather conditions, equipment failures, failure of counterparties to
perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking
statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on
forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this
news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by
applicable securities legislation.
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.
SOURCE First Legacy Mining Corp.
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