Mr. Richard Rivet reports
GOLDEN RAPTURE MINING ACQUIRES GROUND LOCATED APPROXIMATELY 500 METRES SOUTH OF NEXGOLD'S PROPOSED GOLIATH OPEN PIT
Golden Rapture Mining Corp. has entered into an agreement with 1544230 Ontario Inc. and Gravel Ridge Resources Ltd. to acquire a 100-per-cent interest in four mineral claim cells located approximately 500 metres south of NexGold Mining's proposed Goliath project open pit, located approximately 20 kilometres east of Dryden, Ont.
This newly acquired South of Goliath ground is readily accessible by existing roads and benefits from established regional infrastructure. This acquisition further expands the Golden Rapture's land position in one of Northwestern Ontario's most active gold exploration districts.
According to publicly available information released by NexGold Mining, the Goliath gold project hosts the following mineral inventory.
Mineral reserves:
- Proven: 210,000 ounces of gold and 731,000 ounces of silver;
- Probable: 1.1 million ounces of gold and 993,000 ounces of silver.
Mineral resources:
- Measured and indicated: 2.1 million ounces of gold;
- Inferred: 800,000 ounces of gold.
Further details regarding the acquisition and the company's exploration plans for the property will be provided as they become available.
Swell Bay property exploration update
Richard Rivet said:
"We are also waiting for assay results from our recently completed prospecting and surface sampling program at our newly acquired Swell Bay patented mineral claims located in the Fort Frances area. Will announce these results as soon as we receive them."
Property history
The earliest recorded work on the Swell Bay property dates back to the 1890s, when initial developments included the sinking of shafts along with several pits and trenches. Visible gold was reported and observed historically, and confirmed by other geologists years later and also recently. Gold mineralization is hosted not only within quartz veins but also throughout the shear zones, suggesting the potential for a broader and more structurally controlled gold-bearing system. Historical results by King's Bay Gold in 2001 returned exceptionally strong assay results, including grades of up to 718.06 grams per tonne Au (gold) and 535.93 g/t Au.
Qualified person
The information in this news release has been reviewed and approved by John Archibald, PGeo, consulting geologist for Golden Rapture. Mr. Archibald is independent and not a director and is a qualified person as defined by National Instrument 43-101.
Purchase agreement
Golden Rapture will acquire a 100-per-cent interest in the south of Goliath property by making a $600.00 cash payment and immediately issuing a total of 200,000 GLDR shares to the sellers.
The sellers will retain a 1.5-per-cent NSR (net smelter return) on all gold or mineable products.
The purchase agreement is subject to Canadian Securities Exchange approval.
About Golden Rapture Mining Corp.
Golden Rapture Mining is a newly listed exploration company engaged in the acquisition, exploration and development of high-potential projects. The company is proud to have assembled a portfolio of five exceptional gold projects, encompassing a total of 25 historical, underexplored mine shafts, which are also located near established gold producers. Golden Rapture became listed on March 14, 2024, and presently has 52,389,390 shares issued.
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