TSX.V: FKM OTCQB: FKMCF Frankfurt: F7E1
ROUYN-NORANDA, QC, Sept. 3, 2024 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) wishes to make some important clarifications and corrections to the information sent out in a press release on July 4, 2024 about its Galloway project.
Fokus would first like to specify that the only current mineral resource estimate for the Galloway project is that presented in the press release dated March 23 2023 which is supported by a Technical Report (following NI 43-101) entitled "NI 43-101 Technical Report and Mineral Resource Estimate for the Galloway Project, Quebec, Canada" and dated May 7 2023 (available on SEDAR+). The sensitivity analysis and results disclosed July 4 2024 are not mineral resources and were presented for illustrative purposes only.
Furthermore, the emphasis placed on one of the sensitivity assumptions to a gold price of US$2300/oz is potentially misleading and should not be taken into account as it does not comply with the practices established by the ICM.
Fokus would also like to point out that the results presented in the press release of 4 July 2024 should not be taken into account as they represent a breach of the disclosure guidelines, since this information is biased and unbalanced and represents forward-looking information that is not accompanied by all the facts necessary to establish its valid basis.
Qualified Person
The scientific and technical disclosure for Fokus included in this news release have been reviewed and approved by Gilles Laverdière, P. Geo. Mr. Laverdière is a geologist and a qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101") and a director of the Company.
About Fokus
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Quebec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.
The 100% Galloway Project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation, which extends for more than 100km. Numerous gold deposits are associated with the structure and its extensions.
The current work focuses on a western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Related Links
http://fokusmining.com/
Caution regarding forward-looking statements
Certain statements contained in this press release may constitute forward-looking information or statements. Forward-looking information is often, but not always, identified using words such as "anticipate", "plan", "estimate", "expect", "may", "will", "will have", "should", and other similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information due to regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes in the Company's strategic growth plans and other factors, many of which are beyond the Company's control. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and, accordingly, such forward-looking information should not be relied upon as such. All forward-looking information contained in this press release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE Fokus Mining Corporation
View original content: http://www.newswire.ca/en/releases/archive/September2024/03/c9812.html