TSX- V: KNX WWW.KNICK.CA
Val d’Or, Québec, Canada, August 30, 2016 Knick Exploration Inc. (“Knick”) is pleased to announce the posting of its East-West gold property Drill Program Proposal and Methodology on the company’s website at www.knick.ca. The drill program has been developed by Mr. Martin Demers P. Geo. from Knick’s ongoing research of the East-West gold property, Val d’Or mining camp, Quebec, Canada. Mr. Martin Demers was instrumental to the restart of the Casa Berardi Mine by Aurizon Mines in 2006.
The East-West gold property Drill Program Proposal and Methodology document will be distributed to various mining analysts.
Knick’s East-West property and Wesdome’s Kiena Mine Complex Discovery
Two high grade gold zones on the East-West are suggestive of deposits situated on properties immediately east and west of the property. The Marban deposit of Osisko Mining Inc. (TSX: OSK) lies to west and Wesdome’s (TSX: WDO) Kiena Mine Complex to the east were ongoing exploration work is returning positive results. Wesdome highlights include 94.35 grams per tonne (g/t) gold over 17.4 meters, 223.12 g/t gold over 14.25 meters (uncut and downhole widths) and Mr. George Mannard V.P., Exploration of Wesdome, in their press release of August 24, 2016, commented, “These early results exceed expectations, and these rich veins are unlike anything previously encountered at this property. Three holes have been completed to date hitting four high grade intersections. More drilling is underway and is required to define the geometry, true widths and extent of this extraordinarily rich mineralized system.”
The East-West property is straddled by a 500 meter corridor encompassing mafic-ultramafic rocks which have been tightly folded and injected with quartz veins. Significant alteration halos of chlorite-carbonate and albite occur on Knick’s property similar to what has been documented in its neighbour’s deposits. Down dip extensions of known mineralization below 200m on the East-West property have yet to be tested while the ore bodies of the Val d’Or mining camp typically exceed 1000 meters depth.
Final Closing of Financing-September 15, 2016
The company will be closing a flow through financing on or before September 15, 2016. The flow through financing is at $0.05 per common share of Knick Exploration Inc. accompanied with one warrant of the company per common share. The warrant entitles the holder thereof to purchase one common share of the Corporation at a price of $0.08 per Common Share for a period of 12 months following the closing date.
Knick will also be closing a $500,000 offering (hard cash) offered by way of a Private Placement in all of the provinces of Canada on the 15th of September. Each share is composed of one warrant of the Corporation and entitles the holder thereof to purchase one common share at a price of $0.05 per Common Share, for a period of 18 months following the closing date.
Knick press releases are available in the news room on Knick’s web site at www.knick.ca
Gordon N. Henriksen, P.Geo., Vice President of Knick Exploration, is the Company’s qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
We seek Safe Harbour.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Knick Exploration
536, 3rd Avenue 536, 3rd Avenue
Val-d’Or, Quebec Val-d’Or, Quebec
J9P 1S4 J9P 1S4
Office Office
819-874-5252 819-874-5252
Cell Cell
819-856-1387 819-210-1406
TSX- V: KNX WWW.KNICK.CA
