Vancouver, British Columbia – May 7, 2021 – 79 Resources Ltd. (CSE: SNR) ("79 Resources " or the “Company”) is pleased to announce the appointment of Charles Desjardins to its Board of Directors. Mr. Desjardins brings more than 30 years of public company experience in the areas of finance and public company management. Mr. Desjardins has served in varying capacities of numerous public mineral exploration and technology companies and has been very active in the Red Lake Mining district since 2006.
Mr. Desjardins brings experience and knowledge of the company’s Louise Lake Copper-Molybdenum-Gold porphyry deposit west of Smithers, British Columbia and understands the potential for the project. Mr Desjardins played a key role in optioning Louise Lake to the Hunter Dickinson Mining group in 2011 and led the management group that produced the maiden 43-101 compliant resource estimate for the project.
In July 2006, SRK Consulting released an NI 43-101 resource estimate, consisting of an indicated resource of 6 million tonnes grading 0.214% copper, 0.006% molybdenum, 0.20 g/t gold and 0.98 g/t silver, and an inferred resource of 141 million tonnes grading 0.234 % copper, 0.009% molybdenum, 0.23 g/t gold and 0.94 g/t silver. This estimate is compliant with the standards under National Instrument 43-101 and a copy is available under the company’s profile on SEDAR.
James Place has resigned as a director to devote attention to other professional commitments. The board of directors would like to thank James for his valuable contributions to date and wish him success in his future endeavors.
The Company further announces it has set 270,000 options to an advisor and consultant of the Company at $0.145 for a period of 2 years in accordance with the Company’s stock option plan.
M.E. Lavery, PGeo, a qualified person under National Instrument 43-101, is the qualified person responsible for reviewing and approving the technical contents of this news release as they pertain to the Louise Lake property.
About 79 Resources Ltd.
79 Resources is a recently formed junior mining exploration company. Its objective is to acquire, explore and develop precious and base metal properties of merit.
ON BEHALF OF THE BOARD
Steven Feldman Director
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FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).