(TheNewswire)
TheNewswire - July 4, 2023 - DAMARA GOLD CORP. (TSX-V:DMR) (“ Damara ” or the “ Company ”) announces further to its news release of May 23, 2023, it will not beproceeding with its previously announced private placement offlow-through and non-flow-through units utilizing the 30%Critical Mineral Exploration Tax Credit (the“ PreviousOffering ”).
The Company had intended to complete its initial summerexploration program at its VanLab property located in Quebec howeverdue to the forest fires and inability to secure helicopters in theregion the Company has deferred the program until its 2024 season andfurther as a result has cancelled the Previous Offering at thistime.
About Damara
Damara Gold Corp. is a TSX Venture listed mineralexploration company actively focused on the exploration of the PlacerMountain Gold Property, located in Princeton, BC, held by 84%/16% JVwith Universal Copper Ltd and its VanLab Property located in the Quebec territory of Nunavik 200 km north ofSchefferville and 200 km south of Kuujjuaq . Damara’s Board of Directors is seasoned in the mineral explorationindustry with extensive and successful international experience.
ON BEHALF OF THE BOARD OF DIRECTORSOF DAMARA
“Larry Nagy”
Larry Nagy, Chief Executive Officer
For additional information visit Damara’s website at www.damaragoldcorp.com or contact:
Damara Gold Corp.
Larry Nagy
Chief Executive Officer or
Terese Gieselman
Chief Financial Officer
Ph: (250-717-1840)
Disclaimer for Forward-LookingInformation
This news release contains statements that constitute"forward-looking Information", as suchterm is used in applicable Canadian securities laws . Such forward-looking information involves known andunknown risks, uncertainties and other factors that may cause theCompany’s actual results, performance or achievements, ordevelopments in the industry to differ materially from the anticipatedresults, performance or achievements expressed or implied by suchforward-looking information. Forward-looking information includesstatements that are not historical facts and are generally, but notalways, identified by the words "expects,""plans," "anticipates," "believes,""intends," "estimates," "projects,""potential" and similar expressions, or that events orconditions "will," "would," "may,""could" or "should" occur.
Although the Company believes the forward-lookinginformation contained in this news release is reasonable based oninformation available on the date hereof, by its natureforward-looking information involves assumptions and known and unknownrisks, uncertainties and other factors which may cause our actualresults, level of activity, performance or achievements, or otherfuture events, to be materially different from any future results,performance or achievements expressed or implied by suchforward-looking information.
Examples of such assumptions, risks and uncertaintiesinclude, without limitation, assumptions, risks and uncertaintiesassociated with general economic conditions; adverse industry events;the receipt of required regulatory approvals and the timing of suchapprovals; that the Company maintains good relationships with thecommunities in which it operates or proposes to operate, futurelegislative and regulatory developments in the mining sector; theCompany ’ s ability toaccess sufficient capital from internal and external sources, and/orinability to access sufficient capital on favorable terms; miningindustry and markets in Canada and generally; the ability of theCompany to implement its business strategies; competition; the risk that any of the assumptions prove notto be valid or reliable, which could result in delays, or cessation inplanned work, risks associated with the interpretation of data, thegeology, grade and continuity of mineral deposits, the possibilitythat results will not be consistent with the Company’s expectations,as well as other assumptions risks and uncertainties applicable tomineral exploration and development activities and to the Company,including as set forth in the Company’s public disclosure documentsfiled on the SEDAR website at www.sedar.com .
THE FORWARD-LOOKING INFORMATIONCONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF DAMARAAS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TOCHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ONFORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATIONAS OF ANY OTHER DATE. WHILE DAMARA MAY ELECT TO, IT DOES NOT UNDERTAKETO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIREDIN ACCORDANCE WITH APPLICABLE LAWS.
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 press release
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