Las Vegas, Nevada - Patriot Gold Corp. (CSE:PGOL) (OTC: PGOL) provided the following update today to shareholders.
Patriot Gold owns a 3% royalty on the Moss Mine, scheduled to enter production before year-end 2017. The Moss Mine is owned by Northern Vertex Mining Corp. ("Vertex"), and Vertex has continued to make progress toward its announced intention of commencing gold production in Q4, 2017, and has also recently announced a Preliminary Economic Assessment relating to the Moss gold mine expansion to include additional resources.
Patriot also owns a 2% royalty on the Bruner gold project, one of the most significant recent gold discoveries in Nevada. The Bruner gold project is owned by Canamex Resources Corp ("Canamex"). Canamex has commissioned a new resource update for the Bruner gold project and an updated Preliminary Economic Assessment that is expected out before year-end 2017.
Patriot has also recently completed a National Instrument 43-101 technical report regarding its 100% owned Vernal project in Nye County, Nevada. The Vernal project is an early stage gold exploration project. The report is an independent review and evaluation of the geology and mineralization of the Vernal project, including all exploration work carried out to date.
Patriot's 100% owned Windy Peak project, located in the Fairview mining district in southwest Nevada, has been the focus of extensive historical work, including geologic mapping, rock and float sampling, geophysical surveys and drilling. The Company is currently evaluating the project more fully.
Patriot has also commenced trading on the Canadian Securities Exchange (CSE) as of May 2017, and announced a Normal Course Issuer Bid to purchase up to 3,912,760 common shares of the currently issued and outstanding common shares of the Company.
The CSE has neither approved nor disapproved the information contained herein.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release may include statements in relation to the timing, cost and other aspects of future plans, objectives or expectations of Patriot Gold Corp. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Patriot's plans include the risk that actual results of current and planned exploration activities will not be consistent with Patriot's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue Patriot's programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental requirements; timeliness of civil government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by Patriot with securities regulators. In connection with the forward-looking information contained in this news release, Patriot has made numerous assumptions, including that Patriot's future exploration programs will proceed as planned and within budget. Patriot expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov