SHL:CC - Spruce Ridge Resources Ltd. Acquires Mining Claims at Eight Dollar Mountain in Oregon
(TheNewswire)
Toronto, Ontario – TheNewswire - March 18, 2024 – Spruce Ridge ResourcesLtd. ( “Spruce” or the “Company” )(TSXV: SHL) is pleased to announce that it has staked several miningclaims at Eight Dollar Mountain, an area containing nickel lateritelocated in southwest Oregon, USA.
Steve Balch, President and CEO stated, “Eight Dollarshould be considered a grass-roots property, but we know it containsnickel laterite from historic exploration. We now have four propertiesin Oregon, two with historical nickel resources (Cleopatra and RedFlat), one with nickel sulphide intersections in drillcore (Shamrock)and now more nickel laterite at Eight Dollar. We also retain ourinterest in the Great Burnt Copper and South Pond Copper and Goldproperties in Newfoundland, currently under option to BentonResources, and are one of Benton’s largest shareholders.”
Eight Dollar
Eight Dollar is located in Josephine County, southwestOregon just west of the town of Selma. A total of 115 mining claimswere staked totaling 962 ha (2,376 ac) covering most of the west sideof the mountain. Information on Eight Dollar dates to 1942 when it wasexplored by the Freeport Sulfur Company. The area contains severaldiscovery pits and shallow shafts. Over the years, discovery pits wereenlarged, and access roads installed with some bulk samples taken bybackhoe. The area was assessed as recently as 2018 by the Departmentof Geology and Mineral Inventories (DOGAMI). Commodities includenickel, cobalt, and molybdenum. Several occurrences of nickel lateritehave been mapped over a wide area at Eight Dollar including within theclaims staked by Spruce.
Qualified Person
Stephen J. Balch, P.Geo. (ON), the Company’sPresident and CEO and a “Qualified Person” under NationalInstrument 43-101, has reviewed and approved the technical content ofthis press release.
About Spruce Ridge
Spruce Ridge is a Canadian-based mineral explorationcompany focused on critical metal resources with nickel projects inOregon, United States and copper projects in Newfoundland, Canada. TheCompany also holds a significant portfolio of mining securitiesincluding 3.6 million shares of Canada Nickel Company Inc.(TSX-V:CNC), 10.0 million shares of Noble Mineral Exploration Inc.(TSX-V:NOB), 15.0 million shares of Benton Resources Inc. (TSX-V:BEX)and 2.5 million shares of Magna Terra Minerals Inc. (TSX-V:MTT).Spruce’s common shares trade on the TSX Venture Exchange under thesymbol “SHL”. More detailed information can be found on theCompany’s website at:
http://www.spruceridgeresources.com
Contact
Stephen Balch, President & CEO
Phone: 905.407.9586
Email: steve@beci.ca
Cautionary Statement
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this newsrelease. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein. This news release containsstatements that constitute “forward-looking statements”.Forward-looking statements are statements that are not historicalfacts and include, but are not limited to, disclosure regardingpossible events, that are based on assumptions and courses of action,and in certain cases, can be identified by the words “expects”,“plans”, “anticipates”, “believes”, “intends”,“estimates”, “projects”, “potential” and similarexpressions, or that events or conditions “will”, “would”,“may”, “could” or “should” occur, or the negative forms ofany of these words and other similar expressions. Forward-lookingstatements include statements related to future plans for the Company,and other forward-looking information. Forward-looking statements arebased on various assumptions including with respect to the anticipatedactions of securities regulators, stock exchanges, and governmententities, management plans and timelines, as well as results ofoperations, performance, business prospects and opportunities.Although the forward-looking statements contained in this news releaseare based upon what the management of the Company believes arereasonable assumptions on the date of this news release, suchassumptions may prove to be incorrect. Forward-looking statementsinvolve known and unknown risks and uncertainties, they should not beread as guarantees of future performance or results, and they will notnecessarily be accurate indications of whether such results will beachieved. A number of factors could cause actual results, performanceor achievements to differ materially from the results discussed in theforward-looking statements, including, but not limited to: aninability to develop and successfully implement explorationstrategies; general business, economic, competitive, political andsocial uncertainties; the lack of available capital; impact of theevolving situation in Ukraine on the business of the Company; andother risks detailed from time-to-time in the Company’s ongoingfilings with securities regulatory authorities, which filings can befound at www.sedarplus.ca. The Company cannot assure readers thatactual results will be consistent with these forward-lookingstatements. Readers are cautioned not to place undue reliance onforward-looking statements in this press release. Theseforward-looking statements are made as of the date of this newsrelease and the Company disclaims any intent or obligation to updateany forward-looking statement, whether because of new information,future events or otherwise, unless otherwise required by law.
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