Mr. John Mirko reports
ROKMASTER ANNOUNCES PLAN TO SPIN OUT COPPER AND ZINC PROJECTS
Rokmaster Resources Corp.'s board of directors has unanimously approved in principle the transfer of its interests in the Big Copper and Duncan Lake zinc projects located in British Columbia, Canada, to 4Metals Exploration Ltd. (SpinCo), a wholly owned subsidiary of Rokmaster, followed by a pro rata distribution of the common shares of SpinCo to the shareholders of Rokmaster.
Upon the completion of the spinout, Rokmaster shareholders will own shares in: (i) 4Metals, which will focus on: (a) the Big Copper project, a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks in which Rokmaster holds a 55-per-cent interest; and (b) the 100-per-cent-owned Duncan Lake zinc project, which is a series of carbonatehosted zinc-lead-silver deposits located near Duncan Lake in Southern British Columbia; and (ii) Rokmaster, which will continue to advance the Revel Ridge polymetallic gold project, also in British Columbia.
John Mirko, Rokmaster's president and chief executive officer, stated: "Further to our news releases of Nov. 24, 2021, on the Big Copper project and Dec. 20, 2021, on the Duncan Lake zinc project, we believe that the spinout will unlock and increase shareholder value by allowing the capital markets to attribute value to these two exploration properties independently of the Revel Ridge project. The spinout will also provide Rokmaster shareholders the opportunity to realize the growth and potential associated with the recent resurgence in copper, zinc and silver prices and the significant increase in investment in exploration projects similar to those hosted by such exploration properties."
The spinout will be subject to shareholder, court, TSX Venture Exchange and other regulatory approvals, as applicable. Shareholders are cautioned that there can be no assurances that the spinout will be completed as described in this news release or at all.
About the Big Copper property
Rokmaster holds a 55-per-cent interest in the Big Copper property in the Creston area of Southern British Columbia. Big Copper is a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks. Copper-silver mineralization has been traced for four kilometres along strike and is exposed in a series of adits and trenches over approximately 400 to 500 m of vertical relief. Big Copper likely belongs to a class of stratabound replacement copper-silver deposits hosted within mid-Proterozoic quartzitic sedimentary rocks. The company believes that the style and stratigraphic setting of mineralization at Big Copper may be analogous to similar stratabound silver-copper deposits in northwestern Montana, such as the Troy mine and Hecla's Montanore mine.
About the Duncan Lake zinc property
The Duncan Lake zinc property is a series of carbonate-hosted silver-lead-zinc deposits located near Duncan Lake in Southern British Columbia. The Duncan Lake deposits are hosted within a Cambrian-age Badshot limestone, which also hosts Ag-Pb-Zn (silver-lead-zinc) mineralization at Teck's recently producing Pend D'Oreille mine, as well as past producers including the Blue Bell mine, Reeves MacDonald, Jersey-Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and limbs of the regional-scale Duncan Lake anticline, where strong lead-zinc-plus/minus-silver mineralization has been traced by surface and underground drilling for approximately 2,500 m. At Duncan Lake, Rokmaster will be targeting greater than 30 million tonnes of greater than 10 per cent Pb+Zn. Historical background and a geological synthesis of the Duncan Lake deposit is provided in a technical report prepared by R.A. (Bob) Lane and titled "Technical Report on the Duncan Lake Zinc-Lead Project, Slocan Mining Division, Southeast British Columbia, Canada," dated July 20, 2018.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Eric Titley, PGeo, who is independent of Rokmaster and who acts as Rokmaster's qualified person.
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