(TheNewswire)
February 23, 2023 – TheNewswire - Renforth Resources Inc. (CSE:RFR)(OTC:RFHRF) (FSE:9RR) (“ Renforth” or the “Company”) wouldlike to invite interested parties to visit our booth, #2136, duringthe Prospectors & Developers Convention in Toronto, Ontario to beheld at the Metro Convention Centre March 5-8, 2023.
Site preparation has begun in the field for thepreviously announced March drilling with flagging, plowing to open theon property roads up for access and chipping to create drill padsunderway.
Renforth is commencing a non-brokered financing of$600,000 by way of the sale of Common Share units at $0.05 per unit,each unit consisting of one common share and one common share warrantexercisable for 36 months at a price of $0.05. If registered brokersparticipate in the offering they can be paid a commission of 8% cashand 8% brokers warrants. Proceeds raised will be used for generalcorporate expenses.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#Unit 1B – 955 Brock Road, Pickering ON L1W2X9
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About Renforth
Renforth is focused on Quebec's newest battery metalsdistrict, our wholly owned ~330 km 2 SurimeauDistrict Property, which hosts several known areas of polymetallic"battery metals" mineralization, each with various levels ofexploration, as well as a significant amount of unexplored ground.Victoria West has been drilled over a strike length of 2.2km, within a5km long mineralized structure, proving nickel, copper, zinc andcobalt mineralization, in the western end of a 20km magnetic anomaly.The Huston target, during initial reconnaissance, resulted in a grabsample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag.Additionally, the Lalonde, Surimeau and Colonie Targets are allpolymetallic mineralized occurrences which, along with various goldshowings, comprise the areas of potential of this NSR freeproperty.
In addition to the Surimeau District battery metalsproperty Renforth wholly owns the Parbec Gold deposit, a surface golddeposit contiguous to the Canadian Malartic Mine property in Malartic,Quebec. In 2020/21 Renforth completed 15,569m of drilling whichsuccessfully twinned certain historic holes, filled in gaps in theresource model with newly discovered gold mineralization and extendedmineralization deeper. Based upon the success of this significantdrill program the Company considers the spring 2020 MRE, with aresource estimate of 104,000 indicated ounces of gold at a grade of1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/tAu to be out of date. With the new data gained Renforth will undertaketo complete the first ever structural study of the mineralization atParbec, as well as additional total metallic assay work in order tobetter contextualize the nugget effect on the goldmineralization.
Renforth also holds the Nixon-Bartleman property, westof Timmins Ontario, with gold present on surface over a strike lengthof ~500m.
No securities regulatory authorityhas approved or disapproved of the contents of this newsrelease.
Forward Looking Statements
This news release contains forward-looking statementsand information under applicable securities laws. All statements,other than statements of historical fact, are forward looking.Forward-looking statements are frequently identified by such words as‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’,‘anticipate’, ‘estimate’, ‘intend’ and similar wordsreferring to future events and results. Such statements andinformation are based on the current opinions and expectations ofmanagement. All forward-looking information is inherently uncertainand subject to a variety of assumptions, risks and uncertainties,including the speculative nature of mineral exploration and development, fluctuating commodity prices, therisks of obtaining necessary approvals, licenses and permits and theavailability of financing, as described in more detail in theCompany’s securities filings available at www.sedar.com. Actualevents or results may differ materially from those projected in theforward-looking statements and the reader is cautioned against placingundue reliance thereon. Forward-looking information speaks only as ofthe date on which it is provided and the Company assumes no obligationto revise or update these forward-looking statements except asrequired by applicable law.
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