(TheNewswire)
December 3, 2020 – TheNewswire - Vancouver, British Columbia – Lake WinnResources Corp. (“Lake Winn” or the “Company”) ( TSXV:LWR ) ( OTC:EQTXF ) is pleased to announce that it has received the final datafrom the drone based airborne magnetic survey regarding the Cloudproject in the Flin Flon gold belt, Manitoba.
The survey was flown by Stratus Aeronautics Inc. basedout of Burnaby BC. The survey was flown at 50m line spacings on anorth-south grid. The work is designed to assist in the understandingof the geology of the Cloud project.
The magnetic data has immediately shown to map themafic meta-volcanics that host 320m by 50m Bachnick gold zone and alsodemonstrates that this geology continues to the west under cover foran additional 1km. This unit, a “greenstone” is thought to hostthe gold mineralization and this will be the prime target for drilltesting which commences next week. The parallel and adjacent IP andResistivity anomalies will also be tested by drilling. Figure 1depicts this data. Interpretation of the magnetic data will continuewith a focusing on mapping structures.
Figure 1: Airborne total magneticintensity image of the Cloud Project
Qualified Person
The Qualified Person for this news release is BuddyDoyle, AUSIMM, a Geologist of over 30 years’ experience in mineralexploration, discovery, and evaluation. A Qualified Person under theprovisions of National Instrument 43-101.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based goldcompany, listed on the TSX Venture Exchange (Symbol: LWR) focusing onexploration and development of gold projects in Canada. Thecompany’s flagship property, the Cloud Project is in the province ofManitoba, in the Flin Flon Gold Belt approximately 40 kilometersnorth?east of the town of Flin?Flon. Access to the property isprovided by Manitoba highway 10 to the all?weather Kississing LakeRoad. The company is currently preparing for diamond drilling.
On Behalf of the Board of Directors of Lake WinnResources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
https://www.lakewinnresources.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 release.
Cautionary Statement Regarding“Forward-Looking” Information
Certain statements contained in thispress release may constitute forward-looking statements. Suchforward-looking statements are based upon the Company’s reasonableexpectations at the date hereof, which are subject to change dependingon economic, political and competitive circumstances andcontingencies. Readers are cautioned that such forward lookingstatements involve known and unknown risks, uncertainties and otherfactors that may cause a change in such assumptions and the actualoutcomes and estimates to be materially different from those estimatedor anticipated future results, achievements or position expressed orimplied by those forward-looking statements. Risks, uncertainties andother factors that could cause the Company’s plans or prospects tochange include changes or disruptions in the securities markets;legislative, political or economic developments. The Company disclaimsany intention or obligation to update or revise any forward-lookingstatements whether as a result of new information, future events orotherwise.
This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities describedin this news release in theUnited States . Such securities have notbeen, and will not be, registered under the United States SecuritiesAct of 1933, as amended (the " U.S. Securities Act "), or any state securities laws, and, accordingly, maynot be offered or sold within theUnited States , or to or for the accountor benefit of persons in theUnited States or "U.S.Persons", as such term is defined in Regulation S promulgatedunder the U.S. Securities Act, unless registered under the U.S.Securities Act and applicable state securities laws or pursuant to anexemption from such registration requirements.
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