Canadian Mining Journal

News

GOLD: Altius Minerals Corporation has new gold prospects discovered at Wilding Lake and optioned to Northwest Arm Capital



ST. JOHN’S, NEWFOUNDLAND AND LABRADOR: Altius Minerals Corporation is pleased to report the discovery of several new high grade gold occurrences in central Newfoundland on a property it refers to as the Wilding Lake Gold Project. It also reports that it has completed an agreement to option the project to Northwest Arm Capital Inc., a new TSX Venture Exchange listed Capital Pool Company. As consideration for the option of the Project, Altius will receive 4.5 million shares of NWA, and upon earn-in by NWA, Altius will retain a 2% net smelter return royalty over the Project. Following completion of its Qualifying Transaction, NWA intends to seek shareholder approval to change its name to Antler Gold.

The Wilding Lake property hosts high grade gold mineralization within shear-related orogenic style quartz veins and quartz stockworks underneath shallow overburden in an area that has not previously been systematically explored for gold. The Project, totaling 688 claims and 17,200 hectares, is located immediately northeast of and adjacent to Marathon Gold Corporation’s Valentine Lake project [Mineral Resource of 1,060,100 oz. gold at 2.20 g/t (Measured & Indicated) and 200,000 oz. gold at 2.85 g/t (Inferred), as of April 2015]. The land package covers more than 50 kilometres of strike length of the projected structure that is believed to control the regional gold mineralization.

For more information visit www.altiusminerals.com/projects/wilding.