(TheNewswire)
Calgary, Alberta –TheNewswire - January 3, 2024. Guardian Exploration Inc. (TSXV:GX) (OTCQB:GXUSF) (Frankfurt: R6B) (“Guardian”) announces that it has confirmed attendance and secured booth space at the Future Minerals Forum (“FMF”) at King Abdulaziz International Conference Center, Riyadh, Saudia Arabia from January 9 to 11, 2024.
“The Future Minerals Forum is an essential event focusing on mining in the Middle East and is particularly relevant for Guardian's planned expansion into Saudi Arabia through our proposed transaction with Site Exploration Mining Company,” says Graydon Kowal, President and CEO of Guardian. “We are excited to be attending this event in a jurisdiction that encourages sustainable mining development and foreign investment.”
Site Exploration Mining Company (“SEMC”), a Saudi Arabian mining company, holds mineral exploration licenses for five prospects covering 328 square kilometres and rights to an additional 30 mineral prospects covering an additional 2,909 square kilometres in various stages of licence application and approval. These license areas are predominantly prospective for gold, base and battery metals. Guardian’s proposed transaction with SEMC is subject to the approval of the TSX Venture Exchange and was disclosed in Guardian’s press release dated December 5, 2023.
“The transaction with SEMC would be a significant opportunity for us,” adds Kowal. “We expect to establish new industry relationships and continue to develop important existing relationships at the FMF. Immediately after the conference, we will commence our on-the-ground due diligence on the SEMC properties.”
About Guardian Exploration Inc.
Guardian is a TSXV listed company (TSXV:GX) (OTCQB:GXUSF) (Frankfurt: R6B) in the business of oil and gas as well as mineral exploration and development. Guardian’s first prospect is the Mount Cameron Property located in the Yukon’s Mayo Mining District. Guardian also holds mineral claims located on southern Dall Island, Southeast Alaska, USA, known as the Kaigani claims, which it acquired in February 2022.
On December 5, 2023, Guardian entered a non-binding letter of intent to acquire all of the shares of SEMC, a Saudi Arabian mining company, from its shareholders. The proposed transaction is subject to a number of conditions including the satisfactory completion of Guardian’s due diligence and financing raised by Guardian of at least $500,000. The LOI will terminate on March 30, 2024 unless extended by the parties by mutual consent. The original press release incorrectly stated that the LOI would terminate on March 30, 2023.
About Future Minerals Forum Conference
Convened by Saudi Arabia, the Future Minerals Forum (“FMF”) is a platform designed to enable the creation of resilient mineral value chains in the vast resource-rich super region of Africa, Western and Central Asia. Saudi Arabia has all the right ingredients to become a world-class minerals value chain hub for the region. Strategically located at the nexus of Asia, Africa and Europe, with well-developed infrastructure and high domestic demand, the Kingdom has the vision and commitment to develop its mining sector and offers a well-developed economy with high levels of growth and security. Comprising three main components, the Ministerial Roundtable, Conference, and International Exhibition, the Future Minerals Forum serves as a platform where government ministers, global mining CEOs and stakeholders from the region and all over the world can come together and turn talk into action. The inaugural FMF was held in January 2022, attracting more than 140 senior speakers from all over the world. In 2023, FMF attracted 249 speakers who delved deeper into the key issues facing the region and its minerals sector and identified areas for action. The second Ministerial Roundtable took place in advance of the FMF 2023 edition and brought together more than 60 government ministers and delegations along with over 20 international organizations. This meeting marked the largest-ever gathering of its kind aimed at envisioning sustainable mineral value supply chains for the future.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Graydon Kowal
President and CEO
(403) 730-6333
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the possible approval of the TSX Venture Exchange for the transaction, the completion of financing, the approval or rejection of licenses and prospects and the payment of Contingent Consideration. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: operational matters, historical trends, current conditions and expected future developments, access to financing as well as other considerations that are believed to be appropriate in the circumstances. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation 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 required by law.
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