(TheNewswire)
Vancouver, BC, Canada – TheNewswire - March 21 st , 2022 - Recharge Resources Ltd. (CSE:RR) (CNSX:RR.CN) (OTC:SLLTF) (Frankfurt:SL5)(“Recharge” or the “Company”) announcesthat, further to the news release dated April 23, 2021, it hassuccessfully re-negotiated and accelerated its ownership interest to100% of the Brussels Creek Project gold-copper-palladium property,located in the Kamloops Mining District, British Columbia (the“Property”). Prior to this amendment, Recharge had earned in to a60% interest in the Property.
Recharge acquired the remaining 40% right, title andinterest in the Property in consideration of Recharge paying the sumof $75,000 and issuing 2,500,000 common shares in the capital of theCompany upon closing. The interest earned is subject to a 2-percentnet smelter royalty payable to the optionor. One percent of theroyalty may be purchased for $1-million, exercisable any time on orbefore the expiration of one year from the commencement of commercialproduction on the Property. No further work commitment is requiredpursuant to the original agreement.
About the Brussels Creek Project
The Property is an early-stage exploration property,located approximately 24 kilometres west of Kamloops, B.C., and isimmediately adjacent to New Gold's New Afton mine. The Propertycomprises 17 claims (66 cells) covering 1,350.43 hectares. Thegeological setting of the property is very similar to New Afton, asilica-saturated copper-gold alkalic porphyry-style deposit, as wellas the Highland Valley, Mount Polly, Kemess and Galore Creek deposits.Recent field observations noted the presence of a substantialmineralized quartz-feldspar porphyry body intruding the overlyingNicola group volcanics. Historic sampling and mapping on the property,in 1983 and 1984, located a broad anomalous zone (200 metres by 400metres) with gold values up to 3.5 grams per tonne. Grab samples takenfrom the property in 2019 include values of 10.1 g/t Au (with 0.7 g/tpalladium) and 11.5 g/t Au.
In 2020, Syber commenced exploration work on theProperty and has completed an airborne magnetometer survey over theentire property, a lidar and orthophotography survey, and also oneweek of prospecting and mapping. Interpretation of the geophysicalsurvey identified six areas of interest, showing potential for thestructural complexities and potassic alteration that are commonfeatures of this style of porphyry copper-gold deposit. Le Mare(renamed Recharge Resources subsequently) commissioned HealexConsulting of Nanaimo, B.C., to complete a National Instrument 43-101technical report on the property. This report is made available atSEDAR.
The shares issued pursuant to the agreement will besubject to a four-month hold period upon issuance
Director Appointment
Additionally, Recharge is pleased to announce theappointment of Mr. Andrew Mugridge to its Board of Directors,replacing Mr. Andreas Schleich.
Andrew Mugridge has extensive experience consultingpublic traded resources exploration companies since entering theindustry in 2006. Beyond serving in several officer, director, andsenior management positions with TSX and TSX-Venture listed companies,Andrew ran a successful investor relations firm (2006-2014) and iscurrently a principle of a financial advisory firm in Vancouver,British Columbia.
The Company would like to thank Mr. Schleich for hisservices and for his invaluable contribution to the Company. TheCompany wishes him the best in his future undertakings.
Market Awareness Program
As part of Recharge’s ongoing strategy toraise the profile of Recharge’s projects to investors, the Company has entered into an agreement with TDMedia LLC dba Life Water Media LLC, of Houston, Texas ("TDMedia") whereby TD Media will provide digital marketing servicesincluding content creation, distribution, and market awarenesscampaigns in consideration of USD$350,000 for a 90 day term, whichcommenced on March 14, 2022.
About Recharge Resources
Recharge Resources is a Canadian mineral explorationcompany focused on exploring and developing the production ofhigh-value battery metals to create green, renewable energy to meetthe demands of the advancing electric vehicle and fuel cell vehiclemarket.
On Behalf of the Board of Directors,
“Yari Nieken”
Yari Nieken, CEO
For further information, pleasecontact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Disclaimer for Forward-LookingInformation
Certain statements in this release are forward-lookingstatements, which reflect the expectations of management regardingRecharge’s intention to continue to identify potential transactionsand make certain corporate changes and applications. Forward lookingstatements consist of statements that are not purely historical,including any statements regarding beliefs, plans, expectations orintentions regarding the future. Such statements are subject to risksand uncertainties that may cause actual results, performance ordevelopments to differ materially from those contained in thestatements. No assurance can be given that any of the eventsanticipated by the forward-looking statements will occur or, if theydo occur, what benefits Recharge will obtain from them. Theseforward-looking statements reflect managements’ current views andare based on certain expectations, estimates and assumptions which mayprove to be incorrect. A number of risks and uncertainties could causeactual results to differ materially from those expressed or implied bythe forward-looking statements, including Recharge’s inability toidentify transactions having satisfactory terms or at all and theresults of exploration or review of properties that Recharge doesacquire. These forward-looking statements are made as of the date ofthis news release and Recharge assumes no obligation to update theseforward-looking statements, or to update the reasons why actualresults differed from those projected in the forward-lookingstatements, except in accordance with applicable securitieslaws.
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