GIT:CC - Gitennes Provides Updates on its JMW and Maxwell Properties Chapais-Chibougamau Area Quebec
(TheNewswire)
Vancouver, B.C., - TheNewswire - February 9 ,202 3 : Gitennes ExplorationInc. ("Gitennes" or the"Company") – (TSXV:GIT) provides anupdate on its JMW and Maxwell properties, Chapais-Chibougamau Area,Quebec. The two properties were optioned to Newfoundland DiscoveryCorp. (CSE - NEWD) in late 2022 and Newfoundland Discovery completed afive-hole diamond drill programme on JMW and a 1,000-line kilometreairborne magnetometer (“MAG”) geophysical survey onMaxwell.
Gitennes and Newfoundland Discovery have now receivedall of the MAG data and will begin processing the data to determinethe next phase of work on Maxwell. Diamond drill core from all fiveholes from the JMW drilling has been sampled and the samples have beenreceived by the assay lab. Results from the assaying are expected inlate February or early March.
Gitennes also announces that its stock option plan,presented at the Company’s latest annual meeting, was approved byits shareholders.
The Company is granting 200,000incentive stock options to consultants. Each option is exercisableat $0.05 per share and has a term of two years. This grant ofoptions remains subject to acceptance by the TSX VentureExchange.
About Gitennes ExplorationInc.
Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade or large tonnage gold deposits . The Company currently hasfive gold properties in Quebec, JMW, New Mosher, Maxwell, VG Boulderand Serpenphior, the Snowbird gold property in British Columbia and a1.5% Net Smelter Return royalty on the 18 million ounce UrumalquiSilver Project in Peru. Gitennes owns 100% of its Quebec goldproperties except for New Mosher which is under option for Gitennes toearn an initial 70% with the right to increase its ownership to 85%. JMW, Maxwell and Snowbird have been optioned to gold explorationcompanies.
For further information on the Company, readers arereferred to the Company’s website at www.gitennes.com and its Canadianregulatory filings on SEDAR at www.sedar.com .
Gitennes Exploration Inc.
“Ken Booth”
Ken Booth
President
For further information, please contact: KenBooth
Phone: 604-682-7970
Email: info@gitennes.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
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Cautionary Note RegardingForward-Looking Information
This news release includes certain statements thatconstitute "forward-looking information" within the meaningof applicable Canadian securities laws concerning the business,operations and financial performance and condition of the Company. All statements in this news release that are not purely historicalare forward-looking statements and include any statements regardingbeliefs, plans, expectations and orientations regarding the future. Often, but not always, forward-lookingstatements can be identified by words such as "pro forma","plans", "expects", "may","should", "budget", "schedules",estimates", "forecasts", "intends","anticipates", "believes", "potential"or variations of such words including negative variations thereof andphrases that refer to certain actions, events or results that may,could, would, might or will occur or be taken or achieved. Suchforward-looking statements include, among others, statements as to theanticipated business plans and timing of future activities of theCompany, including the exercise of the Option to acquire the NewMosher and Snowbird Projects and to conduct exploration activitiesthereon. Actual results could differ from those projected in anyforward-looking statements due to numerous factors including risks anduncertainties relating to exploration and development and actualresults of exploration activities; the ability of the Company toobtain additional financing; delays in obtaining governmental andregulatory approvals (including of the TSX-V), permits or financing;the need to comply with environmental and governmental regulations;potential defects in title to the Company's properties; fluctuationsin the prices of commodities and precious metals; operating hazardsand risks; environmental issues and liabilities; and competition andother risks and uncertainties of the mining industry. Although theCompany believes that the beliefs, plans, expectations and intentionscontained in this news release are reasonable, there can be noassurance that those beliefs, plans, expectations or intentions willprove to be accurate. Readers should consider all of the informationset forth herein and should review the Company’s periodic reportsfiled from time-to-time with Canadian securities regulators. Thesereports and the Company's filings are available at www.sedar.com.
Readers are cautioned not to place undue reliance onforward-looking statements. The forward-looking statementscontained in this news release are made as of the date of this newsrelease and, except as otherwise required by law, the Companyundertakes no obligation to update the forward-looking statementscontained herein, or to update the reasons why actual results coulddiffer from those projected in these forward-looking statements.
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