(TheNewswire)
VANCOUVER, BC – (TheNews w ire – April18, 2024 ) STELLAR AFRICAGOLD INC . (TSXV: SPX) (the“ Company ” or “ Stellar ”) announcesthat the Company has sold the Namarana Gold Project, Mali.
Sale of Stellar Pacific Mali Sarl andNamarana Gold Project
The Company has concluded an arm’s length sale ofit’s 100% owned Malian subsidiary, Stellar Pacific Mali SARL.Stellar Pacific Mali SARL is the sole owner of the Namarana GoldProject, the only project being developed by Stellar AfricaGold Inc.in Mali. The sale price for Stellar Pacific Mali SARL was Twenty-fiveMillion (Franc CFA 25,000,000) West African Francs (“CFA”),approximately C$52,000.
The sale of Stellar Pacific Mali SARL including theNamarana Gold Project is an Exempt Disposition pursuant to TSX VentureExchange policy 5.3, Section 3.1(i).
Commentary
“I am pleased to report on the sale of Stellar’sMali subsidiary and the Namarana Gold Project” said StellarPresident François Lalonde. “I wish to thank our Malian employeesand contractors who have worked alongside with us over the years, butthis opportunity came at the right time and the sale of this non-coreMali asset will enable management to focus its attention andStellar’s financial resources on the continued exploration of itscore asset, the Tichka Gold Project in Morocco.”
About Stellar AfricaGold Inc.
Stellar AfricaGold Inc . is a Canadian precious metalexploration company listed on the TSX Venture Exchange symbol TSX.V: SPX , theTradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1 .
Stellar’s principal exploration project is itsadvancing gold discovery at the 82 squarekilometre Tichka Est Gold Project in Morocco.
The Company is head officed in Vancouver, BritishColumbia. The Company also has a representative office in Casablanca,Morocco.
Stellar’s Presidentand CEO J. François Lalonde can be contacted at514-994-0654 or by email at lalondejf@stellarafricagold.com
Additional information is available on the Company’swebsite at www.stellarafricagold.com .
On Behalf of the Board
J. François Lalonde
President & Director
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.
Disclaimer &Forward-Looking Statements:
This release contains certain"forward-looking information" under applicable Canadiansecurities laws concerning the Arrangement. Forward-lookinginformation reflects the Company’s current internal expectations orbeliefs and is based on information currently available to theCompany. In some cases forward-looking information can be identifiedby terminology such as "may", "will","should", "expect", "intend","plan", "anticipate", "believe","estimate", "projects", "potential","scheduled", "forecast", "budget" or thenegative of those terms or other comparable terminology. Many of theseassumptions are based on factors and events that are not within thecontrol of the Company, and there is no assurance they will prove tobe correct or accurate. Risk factors that could cause actual resultsto differ materially from those predicted herein include, withoutlimitation: that the business prospects and opportunities of theCompany will not proceed as anticipated; changes in the global pricesfor gold or certain other commodities (such as diesel, aluminum andelectricity); changes in U.S. dollar and other currency exchangerates, interest rates or gold lease rates; risks arising from holdingderivative instruments; the level of liquidity and capital resources;access to capital markets, financing and interest rates; mining taxregimes; ability to successfully integrate acquired assets;legislative, political or economic developments in the jurisdictionsin which the Company carries on business; operating or technicaldifficulties in connection with mining or development activities; lawsand regulations governing the protection of the environment; employeerelations; availability and increasing costs associated with mininginputs and labour; the speculative nature of exploration anddevelopment; contests over title to properties, particularly title toundeveloped properties; and the risks involved in the exploration,development and mining business. Risks and unknowns inherent in allprojects include the inaccuracy of estimated reserves and resources,metallurgical recoveries, capital and operating costs of suchprojects, and the future prices for the relevant minerals.
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