(TheNewswire)
VANCOUVER, BRITISHCOLUMBIA – TheNewswire - July 18, 2022 – ESGoldCorp. ( “ESGold” or the “Company” ) (CSE:ESAU, ( Frankfurt:N4UP ) , ( OTC:SEKZF) is pleased to announce that theCompany is commencing an underwater sampling program on ESGold’sOttawa River Project.
This first phase of ESGold’s operations at the Ottawa River sitewill be an eight (8) day underwater work program conducted by four (4)divers from Soderholm Maritimes Services Inc. The divers will be ableto access the detailed bathymetric surveys conducted by ESGold lastweek. The surveys provide detailed data relating to water depth,riverbed topography, underwater features, and the depth of thesediment above the floor of the river. During this initial phase, itis ESGold’s intention to layout linesat the riverbed in the area of the fan debris formed by potentialhistoric industrial waste residues emitted by a drainage pipe adjacentto the Ottawa River Project. Then the independent divers will extract2 kg samples spaced at 5 meters along these lines that will allow thesamples to be identified by their exact location. Once recovered, thesamples will be sealed and sent directly to laboratory fornon-destructive analysis of mineral content. The sampling will beunder supervision of GoldMinds Geoservices Inc. with Claude Duplessis,Ing. serving as the Independent Qualified Person with regards toNI-43-101 regulations.
The intention of this initial phase of work is to establish thepotential of recoverable salable materials from the riverbed. Use ofthe underwater grid, testing and preparation of the on-site facilitieswill enable ESGold to rapidly expand the scope of the recovery projectif the initial samples indicate favourable results.
The Company is confident that it will be able to quickly establishthe presence of metals in the riverbed as ESGold has secured the useof a high-end underwater metal detector that has been modified toalert a diver, by high intensity Light Emitting Diodes (LEDs), of thepresence of various metals including silver and gold. This willprovide a significant technological advantage over previousexploration on the site.
In other corporate news, ESGold has retained Mr. JohnStella as an investor/marketing/media consultant for an initial termof 12 months. The agreement includes a monthly cash payment of $3,000plus 300,000 options at a price of $0.05 per share, vested immediately (as noted in the Company’s July 4, 2022news release) . This work will complementthe institutional and corporate relations and strategic work currentlybeing carried out by Paradox Public Relations.
Also, the Company has closed the first tranche of theprivate placement announced on June 15, 2022. In this first tranche,the Company raised gross proceeds of $ 1,175,500 by way of an issuance of23,510,000 million units at a purchase price of $0.05 per unit. Eachunit is comprised of one common share and one-half warrant that whencombined to form a whole warrant, the holder will be able to purchaseone (1) common share at a price of $0.10. The warrant has a term oftwelve (12) months from the closing date of this tranche of theprivate placement.
In connection with the closing of this tranche of theoffering, the Company paid an aggregate finders’ fee of $21,350 in cash and issued 525,000 share purchasewarrants to certain arms-length finders. Each finder’s warrantentitles the holder thereof to purchase one common share of theCompany at $0.10 and expires twelve (12) months from the date ofclosing of this tranche of the offering. All securities issued inconnection with this offering are subjected to a restricted holdperiod of four (4) months and a day from the date of closing of thistranche of the offering, under applicable securitieslegislation.
Pour unetraduction française de ce communiqué de presse, veuillez visiternotre site Web à www.esgold.ca .
About the Company
ESGold Corp. is a Canadian environmentally aware resourceexploration and processing company. Management has demonstratedexpertise in advancing gold exploration projects into acquisitiontargets, most notably in the province of Quebec. ESGold’s principalrestoration and recovery project is the Montauban property situated inQuebec, just 80 kilometers west of Quebec City. Recently, the Companyhas also entered into a joint venture agreement to determine thepresence of recoverable metals in the Ottawa River, consistent withESGold’s commitment to environmental recovery solutions. TheCompany’s main exploration focus is its 100% ownership of the EagleRiver project, which is adjacent to and on-trend to several goldprojects in the Windfall Lake district of Urban Barry in Quebec.
For more information on ESGold Corp. pleasecontact the Company (+1514-712-1532) or visit the website www.esgold.ca for the Frenchversion of this news release, past news releases, 3D model of theMontauban processing plant, media interviews and opinion-editorialpieces.
Onbehalf of the Board of Directors,
ESGold CORP.
“Jean Yves Therien”
Chief Executive Officer
“John Stella”
Investor contact
Tel: +1 514- 712-1532
Email: info@esgold.ca
This press release contains"forward-looking information" that is based on the Company'scurrent expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration anddevelopment plans. The words "will","anticipated", "plans" or other similar words and phrases are intended toidentify forward-looking information. Forward-looking informationis subject to known andunknown risks, uncertainties and other factors that may cause theCompany's actualresults, level of activity,performance, or achievements to be materially different from thoseexpressed or implied by such forward lookinginformation.
Neither theCanadian Securities Exchange nor its Regulation Services Provideraccept responsibility for the adequacy or accuracy of thisrelease.
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