TORONTO, ON / ACCESSWIRE / November 18, 2024 / Avidian Gold Corp. ("Avidian" or the "Company") (TSX-V:AVG) wishes to provide an update on its corporate activities. The Company is currently evaluating several transformational opportunities in the mineral resource sector with a flexible approach to both commodity and location. While the Company's preference is advanced-stage opportunities that are close to cash flowing, it remains open minded to sector type and both private and public transactions. Avidian is in an excellent position to advance its growth efforts with a strong balance sheet, cash reserves, and a low share count.
The Company also wishes to announce that is has granted an aggregate of 845,000 options ("Options") to directors and officers of the Company. The Options are exercisable at an exercise price of CAD$0.11per common share for a period of five years ending November 15, 2029 and vest immediately. The grant of Options is subject to the approval and requirements of the TSX Venture Exchange.
About Avidian Gold Corp.
Avidian brings a disciplined and veteran team of project managers with a focus on advanced-stage gold exploration. The Company currently holds a 100% interest in the Jungo gold-copper property in Nevada and is evaluating other transformational opportunities.
Avidian is a shareholder in High Tide Resources (HTRC), which is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. Avidian Gold controls approximately 28% of High Tide's outstanding shares. High Tide owns a 100% interest in the Labrador West Iron Project which hosts an inferred iron resource of 654.9 Mt @ 28.84% Fe and is located adjacent to the Iron Ore Company of Canada's ("IOCC") Carol Lake Mine in Labrador City, NL operated by Rio Tinto PLC. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report for this resource, from which the foregoing information was drawn, is entitled "National Instrument 43-101 Technical Report Mineral Resource Estimate Labrador West Iron Project, Newfoundland and Labrador, Canada", was filed on SEDAR+ on April 6, 2023 and was authored by Ryan Kressall M.Sc., P. Geo, Matthew Herrington, M.Sc., P. Geo, Catharine Pelletier, P. Eng. and Jeffrey Cassoff P. Eng. The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec.
Further details on the Company and the Jungo Property can be found on the Company's website at www.avidiangold.com.
For further information, please contact:
Steve Roebuck
President & CEO
Mobile: (905) 741-5458
Email: [email protected]
or
Dino Titaro
Director, Chairman of the Board
Mobile: (647) 283-7600
Email: [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 news release.
Forward-looking information
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "must" or "plan". Since forward looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the intended Consolidation, receipt by the Company of required regulatory approvals of the Consolidation, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, any potential transactions involving the Company, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations by the Company or any other company in which it has an interest, the material or financial outcomes of any such operations so commenced, any anticipated benefit to the Company or its shareholders resulting from the Company's shareholdings, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to obtain any required approvals for the Consolidation, any change in the Company, its situation or the market which could cause the Company to opt not to pursue the Consolidation, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Avidian Gold Corp.
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