(TheNewswire)
Vancouver, British Columbia - TheNewswire - July 20, 2023 - RedLake Gold Inc. (CSE:RGLD) (“ Red Lake Gold ” orthe " Corporation ") is pleased to announce thatit has contracted ProspectAir Geosurveys to perform a magnetic andtime-domain electromagnetic survey (the “TDEM Exploration Survey”)over a priority block of its Whirlwind Jack project in the Red Lakeregion of Northwestern Ontario. The prioritized area for the TDEMExploration Survey is next to the neighbouring project being advancedby Kinross Gold Corporation.
The Red Lake Airport will serve as the base ofoperation for the TDEM Exploration Survey.
“Having earlier this year achieved uncontestedoperatorship of the Whirlwind Jack project, we are excited to resumeexploration. We believe that the TDEM survey will contribute importantexploration data to vector field exploration, help minimizeforward-moving surface impacts and make our advancement of WhirlwindJack as cost-efficient as possible all while being in alignment withthe retention objective of our compelling share structure. Despiterecent market conditions and macro-events, we have been patient anddiligent to sustain not only core project areas at Whirlwind Jack butalso our capital structure, with our continued goal being to deliverimpactful project exposure on a per share basis. Red Lake Gold is oneof the few junior exploration companies in its immediate area that hasbeen able to keep a stable capital structure and project-levelinterest which bolsters our company’s view that its substantivelyundiluted opportunity set remains significant. We look forward toreviewing the TDEM survey results once received and communicating ourfuture plans as they develop at Whirlwind Jack to our fellowshareholders,” noted Ryan Kalt, Chief Executive Officer of Red LakeGold.
The TDEM Exploration Survey will be funded usingproceeds of the Corporation’s flow-through financing which closedearlier this month (see news release, Red Lake Gold Inc. ClosesFlow-Through Financing, dated July 12, 2023).
On Behalf of the Board ofDirectors
Ryan Kalt
T: 604.687.2038
Email: info@redlakegold.ca
Forward-Looking Statements
This news release contains forward-looking statements.Forward-looking statements address future events and conditions,including but not limited to matters and risks related to the timingand exploration results of the TDEM ExplorationSurvey as well as exploration intentions and/orplans involving the Corporation and/or its capital structure and/orthe Corporation’s Whirlwind Jack projectand/or its constitution. Actual results may differ materially fromthose currently expected or forecast in such statements.
Neither the CSEnor its Regulation Services Provider (as that term is defined in thepolicies of the CSE Exchange) accepts responsibility for the adequacyor accuracy of this release.
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