Huntington Announces Increase in Land Holdings – Golden Sidewalk Target Area – Red Lake Gold District – Ontario
CALGARY, Alberta, March 16, 2021 (GLOBE NEWSWIRE) — Huntington Exploration Inc. (TSX.V: HEI) (the “Company” or “Huntington”) announced today it has added to the Company’s Birch-Uchi Project land holdings in the Red Lake Gold District through an arm’s length mineral property acquisition (the “Acquisition”). Aggregate land holdings have been increased by 184 claims or 3,855 square kilometers to a total of 11,280 square kilometers.
ACQUISITION TERMSHuntington has acquired by way of a mineral property acquisition agreement with an arm’s length third party in exchange for a cash payment of $10,520 for recording costs and nominal expenses only, with no issuance of common shares or royalties.THE PROPERTY HIGHLIGHTSThese additional claims cover favorable geology and some known mineral showings surrounding the companies Birch-Uchi Property announced on January 15, 2021, which is located midway between Red Lake and the Springpole Gold Project approximately 80 kilometers to the northeast. Huntington’s claims are contiguous with Great Bear Resources’ Red Lake North project and Prosper Gold Corp’s Golden Sidewalk project.The Golden Sidewalk project hosts a 3,300 meter by 500 meter undrilled gold-in-till anomaly identified by 10 to 882 pristine gold grains per sample. (Prosper Gold Corp news release dated December 1, 2020) paralleling a regional geological unconformity which arcs across the Proper property and trends southward onto Huntington’s Keyhole block of claims.The southern extension of the unconformity trends through Huntington’s Keyhole block for approximately 2.5 km of strike length. The Ontario Ministry of Natural Resources has recorded the location of historic gold showings on the Keyhole claims and throughout the expanded Huntington entire property (29 in total) all of which have only minimal past exploration.Safety – COVID ProtocolsCurrently, the Company has no known cases of COVID-19 at its offices and is not aware of any direct contacts of office staff or contractors with persons that have tested positive for COVID-19. Even though COVID-19 currently has no direct impact on current operations, there potentially could be disruptions for future work plans due to the direct or indirect restrictions and guidelines mandated by the regional public health authorities.ON BEHALF OF THE BOARD OF HUNTINGTON EXPLORATION
“Christopher Brown, P.Eng”
Interim President & CEO
Note: Website development is ongoing with expected release in mid-2021.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding: the Acquisition and the business of Huntington. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Huntington’s current beliefs and is based on information currently available to Huntington and on assumptions Huntington believes are reasonable. These assumptions include, but are not limited to: market acceptance and approvals. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Huntington to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Huntington; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Huntington’s disclosure documents on the SEDAR website at www.sedar.com. Although Huntington has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Huntington as of the date of this news release and, accordingly, is subject to change after such date. However, Huntington expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/27f3767a-9fd3-46e2-a2df-aff7c848a808https://www.globenewswire.com/NewsRoom/AttachmentNg/05389b20-bf77-4c39-be70-73747d1c82cf