14:05:43 EDT Fri 26 Apr 2024
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1844 Resources Inc
Symbol EFF
Shares Issued 64,519,258
Close 2022-06-17 C$ 0.045
Market Cap C$ 2,903,367
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1844 Resources acquires four claims at Native

2022-06-20 12:47 ET - News Release

Mr. Sylvain Laberge reports

1844 EXTENDS ITS POSITION TO 299 CLAIMS ON NATIVE COPPER PROJECT

1844 Resources Inc. has acquired the final four claims required to complete its land position on it Native copper project on the Gaspe Peninsula of eastern Quebec. This addition now brings the total land position to 299 claims covering over 98 square kilometres and includes seven known copper showings and high-grade drilling, trenching and grab sample assays for both coppers.

Bernard-Olivier Martel, director of exploration at 1844, states: "We are exceptionally pleased with this addition as it closes off our land position and adds the remaining two known showing in the Native copper project area. The high-grade samples taken to date on the limited exploration done in the area are highly prospective and strengthens our thesis that the Native copper project could become a copper exploration camp in the Gaspe Peninsula." Historic work results on these newly acquired claims are as noted in the attached table.

Under the terms of the purchase agreement, the vendor, an arm's-length party, will receive $5,000 and 500,000 common shares and a 2-per-cent net smelter return royalty, 1 per cent of which may be retired for a one-time payment of $750,000.

Vortex update

After detailed analysis 1844 has decided to postpone its previously announced drill program on the Vortex project due to the proximity of a habitat of a vulnerable or threatened wildlife species (forest caribou, Gaspesie population). 1844's technical team has now shifted its exploration plans firmly to the Native copper project.

About 1844 Resources Inc.

1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions in Gaspe and Chibougamau, Que. With a dedicated management team, the company's goal is to create shareholder value through the discovery of new deposits.

Mr. Martel, PGeo, the company's director of exploration, is a qualified person (as such term is defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.

We seek Safe Harbor.

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