(TheNewswire)
Vancouver, British Columbia - TheNewswire - September 27 , 2023 - Red Lake Gold Inc. (CSE:RGLD) (“ Red LakeGold ” or the " Corporation ") ispleased to announce that it has expanded its presence within the RedLake Mining District by acquiring the Celt Lake Lithium Project (the“Celt Lake Project”) located near Ear Falls, Ontario.
“ Red LakeGold believes that last week’s announcement by Beyond Lithiumregarding the discovery of spodumene within our namesake Red LakeMining District is an important regional event and that it validatesnew exploration opportunities in a well-known precious metals districtfor critical minerals such as lithium. Our royalty-free, claim-stakedproject delivers compelling value for Red Lake Gold shareholders andprovides the company with important forward-moving optionality toexplore our established and now expanded presence in the Red LakeMining District for both gold and lithium ,”noted Ryan Kalt, Chief Executive Officer of Red Lake Gold.
Figure One:
Celt Lake Lithium Project
The Corporation’s new lithium exploration project (asshown in the above map) involves 500 individual mining claims formingan integrated exploration block of more than 10,000 ha.
The Celt Lake Project was acquired directly by theCompany on a royalty-free basis through staking with all acquisitioncosts having already been remitted directly to the Government ofOntario as license fees. The new project is contiguous with the EarFalls Project held by Beyond Lithium Inc. (see Beyond Lithium Inc.news release, Beyond Lithium Discovers New Spodumene Bearing PegmatiteZone at Ear Falls Project in Northwest Ontario, dated September 17,2023).
Red Lake Gold believes that its Celt Lake Project mayprovide the potential for certain synergies with its core WhirlwindJack Project, where it safely completed a TDEM exploration program this summer (see Corporation news release, RedLake Gold Inc. Engages ProspectAir for a TDEM Exploration Survey atWhirlwind Jack, dated July 20, 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 explorationresults and intentions, governmental and community matters and theCorporation’s projects and their constitution. Actual results maydiffer materially from those currently expected or forecast in suchstatements.
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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