Vancouver, BC – Crystal Lake Mining Corporation (the “Company”)
The Company reports on the progress of its acquisition (“Acquisition”) of the minerals rights to the Emo, Ontario properties referred to in previous news as “Property 1”, “Property 5”, “Property 7” and “Property 8”. The Company agreed to purchase a 100% interest in those properties by paying $50,000 and issuing 10,500,000 shares to Emerald Lake Development Corp., subject to a 2% NSR, 1% of which may be purchased for $1,000,000.
The Company received conditional approval to the Acquisition of on November 14, 2017 which required, among other things, the preparation of a current geological report and demonstrated ability to fund the first stage of work on the properties. The Company has commissioned Ronacher McKenzie Geoscience to prepare the requisite 43-101 report on the properties and, due to its recent fund raising initiatives, the Company now has the financial resources necessary to fund the initial stage of consequently recommended exploration.
The Company is pleased that Acquisition has since been expanded to include additional properties known as “Property 2” “Property 3” and “Property 4” and the added properties will be included without additional consideration. All of the claim blocks are in the same area and have similar geological characteristics to the EL1 and EL5 property blocks which the Company currently holds under option, targeting Ni, Cu, Co, and PGM’s massive sulphides.
The Company is expecting final approval shortly after the receipt of the pending geological report.
About the Company
Crystal Lake Mining Corporation is a mineral exploration/Development company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.
On behalf of The Board of Directors of Crystal Lake Mining Corporation.
Alphonse Ruggiero, Director/CFO
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Crystal Lake Mining Corporation which may cause actual results, performance or achievements of Crystal Lake Mining Corporation on to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither 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 press release, which has been prepared by management.
