Vancouver, British Columbia--(Newsfile Corp. - June 6, 2017) - Secova Metals Corp. (TSXV: SEK) (FSE: N4UN) (OTC: SEKZF) ("Secova" or the "Company") is pleased to announce that the Company has acquired 1106541 B.C. Ltd., a private B.C. Company which sole asset is the Osisterra Project ("Osisterra") that consists of 30 claims or 1,694 contiguous hectares, adjacent to it's Eagle River project which is on-trend to the Windfall Lake, Urban Barry and the Gladiator gold projects.
This brings the Company's total contiguous land position at Eagle River to 21,472 hectares making Secova one of the largest land holders in the district behind Osisko Mining. The Osisterra Project has had exploration on the property dating back to 1977 including mapping, airborne geophysical surveys and some drilling.
Secova's Chairman and CEO, Brad Kitchen commented, "Secova has taken advantage of this opportunity to acquire the Osisterra claims that are directly adjacent to both the south of Osisko Mining's Windfall Lake Camp, and to the west of Bonterra's Gladiator project, hence its name, 'Osisterra'. This parcel of land represents a critical piece of the puzzle for Secova and its extensive exploration plans for the Windfall Lake gold district. Management feels that this will be the Company's last acquisition in this region before exploration commences on the Eagle River properties shortly. The Company has more than sufficient capital to accommodate its budget for the Duvay/Chenier drilling program as well as its initial Phase 1 exploration program at Eagle River."
The acquisition is an arms-length transaction in which the Company will issue 10 million common shares by way of a share exchange agreement. The acquisition transaction contemplated herein are subject to final Tsx Venture Exchange approval.
About Secova Metals Corp.
Secova Metals Corp. is a Canadian gold exploration company focused on building a strong asset base through exploration of undervalued gold projects in Canada. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova has the exclusive right and option to acquire from Tres-Or Resources Inc. ("Tres-Or"), an undivided 65% right, title and interest in the contiguous Duvay/Chenier Gold Projects. Secova can earn up to 90% of the property (an additional 25% ownership) by funding a pre-feasibility study after the initial exploration expenditures to bring the property towards production. The Company has a total contiguous land package of 174 claims covering over 7,766 hectares (17,458 acres) of land. Duvay/Chenier is located in the Abitibi gold belt, one of Quebec's premier mining jurisdictions. The Company has plans to advance the development of Duvay/Chenier as well as seek other avenues of growth through acquisition and mergers. The Company also has 100% ownership of the Eagle River project which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec.
For more information on Secova Metals Corp. please contact [email protected], Tel: +1 604-558-5397 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
"Brad Kitchen"
Chairman, CEO and Director
Tel: +1 604-506-7555
[email protected]
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.
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
