Golden Birch Announces Status of Keveri Option Party
TIMMINS, Ontario, Sept. 16, 2020 (GLOBE NEWSWIRE) — Golden Birch Resources Inc. (GBRX:CSE) (“Golden Birch” or the “Company”) wishes to advise the market that it has been informed of the commencement of court proceedings in the Western Australia Supreme Court by a shareholder of Papuan Minerals Pty Ltd (“PMPL”) against other shareholders of PMPL based on alleged “oppression”.
Golden Birch is a party to an option agreement dated March 20, 2020 (the “Option Agreement”) among PMPL and Papuan Minerals Ltd (“PML”), a wholly-owned subsidiary of PMPL and the holder of the exploration licences that make up the Keveri project (“Keveri Project”). Pursuant to the Option Agreement, Golden Birch holds the option to earn up to an 85% interest in PML.The Company does not expect these legal proceedings will have a material impact on the Company. Golden Birch is seeking further information and taking legal advice on the matter and it will update the market on any relevant developments as required.About Golden Birch Resources Inc.Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. Golden Birch continues to maintain and develop strong relationships with the local community and landowners that was initiated by Papuan Minerals Ltd. The Company committed to fostering strong community relationships, respect for the environment, and the safety for its employees.For further information please visit the Company’s website at www.goldenbirchresources.ca or contact:
Chief Administrative Officer & Executive Director
E: email@example.com C: 1.705.288.0249Forward-Looking Statements
This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of copper, gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.