VANCOUVER, BC, Nov. 9, 2021 /CNW/ - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSXV: STU) is pleased to provide a technical update on its Ruby Creek Molybdenum project located 35 kilometres (km) by road east of Atlin, BC.
The Company has retained Mine Development Associates (MDA), a division of RESPEC, to update the 2009 Ruby Creek molybdenum historic resource estimate, which was prepared for a prior operator, into a current mineral resource estimate. The data review, modelling and resource estimation will be conducted in accordance with NI43-101 standards by the MDA associates and qualified persons, Steve Ristorcelli, P.Geo., and Peter A. Ronning, P.Eng..
Mr. David O'Brien President & CEO of Stuhini stated: We are honoured to be working with such a reputable firm as MDA. With the steady increase in the price of molybdenum over the past 16 months, the Company and its Board have initiated a strategic review process that encompasses an evaluation of the Company's development strategy and business plan. Simultaneously our technical team has been working on re-compiling the vast dataset on the Ruby Creek molybdenum project in preparation for project advancement.
Stuhini has recently been utilizing the services of proactive investor to help communicate via video relevant news releases to the investment community and a brief video highlighting this release can be found on the Company website or by clicking the link below:
Proactive Investor interview with Dave O'Brien, President & CEO of Stuhini Exploration
The Company also announces the grant of stock options to a consultant to purchase 120,000 common shares of the Company at $0.60 per share until November 9, 2023. The options will not be subject to any vesting requirements and are subject to the terms of the Company's Stock Option Plan and TSX Venture Exchange approval.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada. The Company's portfolio of exploration properties includes its flagship the Ruby Creek Property located approximately 20 km east of Atlin, BC, the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon, the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba and the Big Ledge Property located approximately 57 km south of Revelstoke, BC.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward–looking statements concern the Company's strategic plans, , future price estimates for Molybdenum("Mo"), and updating to current resource the historic Mo resource. Such forward–looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from sampling results, price estimates for Mo; the effect of Covid-19 on the Company's ability to conduct exploration; performance of available laboratory and other related services; and future exploration costs. The actual results could differ materially from those anticipated in these forward–looking statements as a result of the risk factors including: downturn in future price estimates for Mo, the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of sampling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the 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.
For further information please contact:
David O’Brien
President & Chief Executive Officer
Stuhini Exploration Ltd.
Email: dobrien@stuhini.com
Phone: (604) 835-4019
Web: www.stuhini.com
SOURCE Stuhini Exploration Ltd.
