March 30, 2021 - Vancouver, B.C., Granite Creek Copper Ltd. (TSX.V: GCX | OTCQB: GCXXF) ( “Granite Creek” or the “Company”) announces that it has engaged GoldSpot Discoveries Corp. (TSX.V: SPOT) ( “GoldSpot”) to apply their proprietary machine learning technology and geoscience expertise on the Company ’s Carmacks & Carmacks North project, located in the high-grade Minto copper district of Canada ’s Yukon Territory. GoldSpot will work closely with Granite Creek ’s technical team to analyze geological, geochemical, and geophysical data covering the Company ’s advanced and early-stage targets, including targeting for the 2021 drill campaign slated to commence in early May.
GoldSpot Discoveries Corp. is a mining-focused technology company that is working with some of the leading exploration and mining names in the industry to apply cutting edge Artificial Intelligence ( “AI”) algorithms to significantly increase the efficiency and success rate of mineral exploration. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.
Denis Laviolette, Executive Chairman and President of GoldSpot, stated: “We are extremely pleased to be engaged again by the Metallic Group. Our teams have meshed very well in the ongoing collaboration with Metallic Minerals and Group Ten Metals where our work is already delivering value to these exciting exploration projects. We look forward to building our relationship with Granite Creek and achieving exploration success with them. We are excited to be working on another one of the Metallic Group ’s exceptional projects in this prolific mining jurisdiction that has tremendous blue sky.”
Tim Johnson, President and CEO of Granite Creek Copper, commented: “We look forward to working with the GoldSpot team on Granite Creek ’s Carmacks and Carmacks North project. GoldSpot ’s innovative AI techniques are particularly relevant as we have numerous multi-kilometer target areas across a 176 square kilometer highly prospective land package, with an extensive exploration database. Their work, in tandem with our technical team ’s extensive knowledge of the Minto Copper Belt will allow us to quickly refine and prioritize existing exploration targets while driving new discoveries in less explored areas of this prolific, high grade copper district. We look forward to providing more comprehensive updates and further information as we start to receive results from our on-going programs and begin our work with GoldSpot.”
The Company also wishes to clarify the certain details regarding the completion of its private placement. A total of 5,000,000 flow-through shares were issued at a price of $0.28 per share, 10,075,000 non flow-through units were issued at a price of $0.20 per unit and 8,183,181 flow-through shares were issued at a price of $0.22 per share. Finder’s fees totaling $314,438 cash, 150,000 shares, 1,124,581 finder’s warrants and 175,000 compensation options were paid. All shares are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and the policies of the TSX-V. The private placement remains subject to the final approval of the TSX-Venture Exchange.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the Yukon ’s Minto copper district where it holds the Carmacks and Carmacks North project. This combined 176-square-kilometer property is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company ’s website at www.gcxcopper.com.
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This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
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