Northstar Gold Corp. ("Northstar" or the "Company"), a private corporation, today announced that its board of directors has authorized management to identify strategic alternatives for the Company that could include a going public transaction by way of initial public offering, reverse take-over or qualifying transaction, a sale of the company or its assets and/or a joint venture or option of some or all of the Northstar’s assets.
The process is expected to take no longer than six months, however there is no guarantee a transaction will be completed within the expected timeframe.
On behalf of the Board of Directors
Northstar Gold Corp.
About Northstar Gold Corp.
Northstar is a private gold exploration company that holds a 100% interest in the Miller Gold project located near Kirkland Lake, Ontario. The Miller Gold Project contains a historic resource (non-NI 43-101 compliant) (1988) resource of 267,000 ounces of gold at a grade of 11.5 g/t Au. In late 2016 Northstar completed a 932 tonne surface bulk sample of the Vein 1 zone that graded 5.1 g/t Au with a 95.75% gold recovery in cyanide leach. Surface channel sampling showed excellent continuity of high grade gold values along strike. A mini-bulk sample collected from a bedrock exposure of the D zone graded 36.1 g/t Au.
The 100% owned Milestone/Diadem Cu-Ni-Co Property located near Temagami Ontario already hosts a non 43-101 compliant resource of 500,000 Tons grading 0.5% Cu, 0.1% Ni + Co, Au, Ag and PGM's in the Diadem deposit which remains open to depth. Historic drill intercepts in the adjacent Milestone zone are higher grade and include 2.66% Cu and 1.49% Ni over 4.26m as well as 0.71% Cu over 11.6m including 7.04% Cu and 1.79% Ni over 0.36m. In 2001 Temex Resources intersected 1.0% Cu, 0.17% Ni and 0.044% Co over 4.25m in the Milestone zone at 15m vertical depth. Core sampling returned values up to 816 ppm Co while surface grabs assayed up to 1445 ppm Co. The Diadem and Milestone deposits represent the northeastern extension of the Temagami Island "pyrite zone" which contains 1,250,000 Tons averaging 0.78 % Cu, 0.58% Ni, and 0.07% Co +Au, Ag. PGM.
Our 100% owned 3,552 hectare Bryce Property is a large contiguous land package located near Elk Lake, 10 minutes from the Trans-Canada Highway. The property is situated along the Ridout trend which hosts the Juby, Cote Lake and Borden Lake gold deposits to the west. The Bryce property features shear hosted gold, porphyry gold and gold-rich VMS systems located within a volcanic centre environment. Significant discoveries on the property include the 300m x 1500m Sunday Creek Porphyry zone (2.09 g/t Au over 25.5m in BG12-65 and 25.13 g/t Au over 2.0m in BG13-68) which is open along strike and gold rich VMS horizons in the Pike Lake area (2.36 g/t Au, 1.87% Zinc over 15.9m in BG11-47).
Additional information on Northstar can be found at www.northstargoldmining.com.
For more information please contact:
1 (705) 676 6476
Forward Looking Statements:
This memo includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.