WIN:CC - Windfall Geotek Options Strategic Claims with Copper Targets in the Marshall Lake West Area Ontario
(TheNewswire)
DOES NOT CONSTITUTE AN OFFER OF THESECURITIES DESCRIBED HEREIN
Brossard, Quebec - TheNewswire - May11th, 2022 – Windfall Geotek (TSXV:WIN ) , ( OTC:WINKF ) , ( FSE:L7C2) a leader inthe use of Artificial Intelligence (AI) with advancedknowledge-extraction techniques since 2005 in the mining sector ispleased to announce a new property option agreement to a privateentity for claims in the Marshall Lake West area in Ontario. Theclaims were acquired as a result of an internal AI target projectconducted by Windfall Geotek that identified high probability Coppertargets in a key mining camp in Ontario. The option agreement providesthe private entity with a 90% earn in over a 4 year period subject toa series of cash payments & spending requirements. Windfall Geotekretains a 2% NSR Royalty and 10% ownership in the mineralclaims.
Dinesh Kandanchatha, Chairman ofWindfall Geotek commented: “We continue to see interest in our properties from investorslooking to deploy capital. Our AI platform is unique as a duediligence tool for prospectors, primary exploration companies and tier1 mining companies looking to extend mine operations. This is anothervalidation of our technology for the discovery of basemetals.”
Figure 1: Marshall Lake West Area -Windfall Geotek Claims in Red
The scientific and technical data contained in thispress release was reviewed and prepared under the supervision ofGrigor Heba, Ph.D., P.Geo., Principal Geologist and a QualifiedPerson as defined by National Instrument 43-101 .
Grant of Incentive StockOptions
The Company has granted, unders its Share Option Plan,incentive stock options to certain directors, officers, consultantsand employees of the Company to purchase an aggregate of 1,655,000common shares exercisable for a period of up to five years from thedate of grant at a price of $0.075 per share. This grant is subjectto the acceptance for filing by the TSX Venture Exchange.
About Windfall Geotek – Powered by Artificial Intelligence (AI)since 2005
Windfall is an Artificial Intelligence company that hasbeen in business for over 15 years developing its proprietary CARDSanalysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team thatincludes professionals in geophysics, geology, ArtificialIntelligence, and mathematics. It combinesavailable public and private datasets including geophysical, drillhole and surface data. The algorithms designed and employed byWindfall are calculated to highlight areas of interest that have thepotential to be geologically similar to other gold deposits andmineralization. The Company's objective is todevelop a new royalty stream by significantly enhancing andparticipating in the exploration success rate of mining and tocontinue the Land Mine detection application as a high priority. Windfall has played a part in numerous pastdiscoveries utilizing its methodology as described at: https://windfallgeotek.com/ .
For further information, please contact:
Simran Kamboj
President and CTO of Windfall Geotek
Email: simran@windfallgeotek.com
Website: www.windfallgeotek.com
Additional information about the Company is availableunder Windfall Geotek’s profile on SEDAR at www.sedar.com . Neither the TSXVenture Exchange nor does its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptresponsibility for the adequacy or accuracy of this release.
FORWARD-LOOKINGSTATEMENTS: This news release contains forward-looking statements,which relate to future events or future performance and reflectmanagement’s current expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and using information currentlyavailable to the Company. Investors are cautioned that theseforward-looking statements are neither promises nor guarantees, andthey are subject to risks and uncertainties that may cause future results todiffer materially from those expected. These forward-lookingstatements are made as of the date hereof and, except as requiredunder applicable securities legislation, the Company does not assumeany obligation to update or revise them to reflect new events orcircumstances. All forward-looking statements made in this pressrelease are qualified by these cautionary statements and by those madein our filings with SEDAR in Canada (available atWWW.SEDAR.COM).
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