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Vancouver, British Columbia–(Newsfile Corp. – September 6, 2022) – Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (“Japan Gold”) is pleased to announce that Barrick Gold Corporation (“Barrick”) has decided that six allocations from the Barrick Alliance portfolio will continue as allocations included in the current evaluation phase under the Strategic Alliance Agreement of February 23, 2020 (the “Alliance Agreement”) between Japan Gold and Barrick. In addition, Barrick will continue its initial assessment phase in 3 allocation spaces that were added to Barrick Alliance after its formation. Japan Gold will continue to comprehensively supply and control the allocations included in barrick Alliance.
Marian Moroney, Barrick’s Vice President of Exploration, Asia Pacific, said: “The Barrick team is very pleased that the national variety programme has been a success in defining several projects that will now get more specific painting systems to take them to the next level. Programs It will most likely come with geophysical studies and drilling on targets, as we continue the search for world-class deposits in Japan. “
John Proust, President and Chief Executive Officer, said: “The Japan Gold team has done excellent work over the past two and a half years to compare barrick Alliance’s 29 assignments to demonstrate to Barrick the superior quality of Japan Gold’s allocation portfolio and its future. “We are very encouraged by the fact that Barrick has decided on 6 assignments that can house only levels 1 or 2 or mineral bodies and look to the future to aggressively advance those assignments. »
As a component of the Alliance Agreement, Barrick agreed to fund only a 2-year initial evaluation phase of the 29 assignments first included in the Barrick Alliance, as well as an initial 2-year evaluation phase in all assignments hereunder acquired through Japan Gold and included in the Barrick Alliance, from the date of their acquisition, and (ii) they will alone fund a momentary phase of the next 3-year evaluation in assignments that meet their criteria. In February 2022, Japan Gold granted Barrick a 6-month Extension, until August 31, 2022, to complete the initial assessment phase of the original allocation portfolio, due to delays and restrictions caused by the global Covid pandemic.
Barrick asks that projects have the prospect of hosting a Tier 1 or Tier 2 ore deposit, to progress within the Barrick Alliance. Tier 1 ore bodies are explained through Barrick with a prospect of five million ounces or more at an annual rate of at least 500,000 ounces of gold over 10 years and Tier 2 deposits are explained with a prospect of 3 million ounces or more with an annual production of 300,000 ounces of gold for 10 years. The following projects were decided by Barrick following a comprehensive box knowledge and review program conducted through senior managers at Barrick and Japan Gold:
Aibetsu, Tenyru, Hakuryu, Togi, Ebino and Mizobe, included in the Barrick Alliance at the time of their initial formation, will move on to the time of program evaluation.
Extension Buho – Nakanosawa, Aibetsu East Extension and Togi Extension were added to Barrick Alliance after their formation and as such will continue as components of the initial evaluation phase in accordance with the terms of the Alliance Agreement. All mandates of the initial phase evaluation will be completed within one year.
John Proust, President and Chief Executive Officer, said: “With Barrick Alliance’s extensive assessments, the company now possesses a comprehensive and unique body of knowledge about Japan’s epithermal gold districts and is well placed to advance in high-perspective spaces that do not meet Barrick’s criteria. , can still hold giant deposits of high-grade gold. We are comparing internally all the projects that Barrick has not selected, that remain at an initial level of research but offer exploration potential, with a view to determining which one to advance independently. or by adding more partners. “
The following Figures 1 to 5 highlight The adjustments of Barrick and the Japan Gold portfolio:
Figure 1: Japan’s gold portfolio.
To see a preview of Figure 1, visit: https://images. newsfilecorp. com/files/5665/136038_b90e3a17741c5b8d_001full. jpg
Figure 2: Northeast Hokkaido.
To see a preview of Figure 2, visit: https://images. newsfilecorp. com/files/5665/136038_b90e3a17741c5b8d_002full. jpg
Figure 3: Southwest Hokkaido.
Figure 4: Noto Peninsula, Honshu.
Figure 5: Japan Gold in the Hokusatsu region south of Kyushu.
To see a preview of Figure 5, visit: https://images. newsfilecorp. com/files/5665/136038_b90e3a17741c5b8d_005full. jpg
On behalf of the Board of Directors of Japan Gold Corp.
“John Proust”President and CEO
qualified person
The technical data contained in this press has been reviewed and approved by Japan Gold’s Vice President of Exploration and Country Director, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a qualified user as explained through National Instrument 43-101.
About Japan Gold Corp.
Japan Gold Corp. es a Canadian mineral exploration company that focuses solely on gold exploration on Japan’s 3 largest islands: Hokkaido, Honshu and Kyushu. The company has entered into a national alliance with Barrick Gold Corporation to jointly explore, expand and exploit certain gold mines. and mining projects. The Company has a portfolio of 31 gold projects covering spaces with known gold indices, a mining history and which are promising for high-grade epithermal gold mineralization. Japan Gold’s control team represents decades of experience in the resource and business industry, and the company has an operational team of geologists, drillers and technical advisors with experience in exploration and exploitation in Japan. More information can be found on www. japangold. com or by email at info@japangold. com.
For information, please contact:
John ProustPresident and CEO Phone: 1-778-725-1482 Email: info@japangold. com Website: www. japangold. com
Neither TSX Venture Exchange nor its Regulatory Service Provider (as that term is in TSX Venture Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note
The data in this press release is ready as of September 6, 2022. Certain information contained in this press release, together with any data relating to the Alliance, constitute “forward-looking statements”. All statements, except for statements of old facts, are forward-looking statements. The words “may,” “will” and similar expressions identify forward-looking statements. In particular, this press release forward-looking statements, which add, among others, in connection with prospective exploration, the progression and exploitation of certain mining projects at Barrick Alliance and the option of continuous advancement for certain projects. Forward-looking statements are necessarily based on a number of assumptions, adding vital assumptions that are believed to be moderate through Japan Gold as of the date of this press release in japan Gold’s control enjoy and believe in existing situations and expected progressions, and are inherently subject to significant uncertainties and business contingencies. economic and competitive.
Many of these uncertainties and contingencies would possibly have actual effects and could cause actual effects to differ slightly from those expressed or implied in forward-looking statements made through or on behalf of Japan Gold. Readers are cautioned not to place undue trust in futures. forward-looking statements that are not promises of long-term events and refer only to the date on which they are made. All forward-looking statements made in this press release are qualified through those cautionary statements. Japan Gold disclaims any legal purpose or liability to update or revise any forward-looking information or to explain any difference between such actual events and upcoming events, unless required by applicable law.
To view the original edition of this press release, visit https://www. newsfilecorp. com/release/136038