Eskay Clarifies that It Has Acquired a 100% Interest in all of Its Former JV Property

Rhea-AI Summary

Eskay Mining Corp. has clarified its recent acquisition regarding a former joint venture with St. Andrew Goldfields Ltd. The company has now secured 100% ownership of all properties previously involved in the JV, including the Jeff and TV targets. The acquisition is subject to a 2% NSR in favor of St. Andrew. Eskay holds a total of 177 claims over 130,000 acres in the Golden Triangle region of British Columbia, enhancing its exploration capabilities in this rich mining area.

Positive

• Acquired 100% interest in former joint venture properties.
• Strategic position in the highly mineralized Golden Triangle region.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 26, 2021 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTCQB:ESKYF)(Frankfurt:KN7) (WKN:A0YDPM) wishes to clarify its press release dated March 25, 2021. All of the property that was subject to the former joint venture with St. Andrew Goldfields Ltd. ("St Andrew"), including the Jeff and TV targets (referred to in the Company's press release of February 2, 2021), is now owned 100% by Eskay subject to the 2% NSR in favour of St Andrew. The map included as Schedule A shows the Company's current 100% landholdings in the Golden Triangle and the map included as Schedule B shows the former joint venture lands.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," approximately 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:

Mac Balkam President & Chief Executive Officer

T: 416 907 4020 E: Mac@eskaymining.com

Neither the 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 release.

Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Schedule A

Schedule B

SOURCE: Eskay Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/637591/Eskay-Clarifies-that-It-Has-Acquired-a-100-Interest-in-all-of-Its-Former-JV-Property

FAQ

What recent acquisition did Eskay Mining Corp. announce?

Eskay Mining Corp. announced the acquisition of 100% ownership of properties previously under a joint venture with St. Andrew Goldfields Ltd.

What is the significance of the 2% NSR in Eskay's acquisition?

The 2% NSR is a royalty interest that St. Andrew holds on the properties acquired by Eskay Mining Corp.

How many claims does Eskay Mining hold in the Golden Triangle?

Eskay Mining holds a total of 177 claims covering approximately 130,000 acres in the Golden Triangle.

What areas are included in Eskay Mining's recent acquisition?

The acquisition includes the Jeff and TV targets, previously part of the joint venture with St. Andrew.

What impact does the acquisition have on Eskay Mining's exploration efforts?

The acquisition enhances Eskay Mining's exploration capabilities in a region known for its mineral wealth.