InvestmentPitch Media Video Discusses Etruscus Resources’ Upcoming 2023 Drill Program at its Lewis Property in Newfoundland and Current Private Placement

Rhea-AI Summary

Etruscus Resources Corp. (CSE:ETR) is gearing up for its 2023 drill program at the Lewis Property in Newfoundland, located near significant gold discoveries. The property spans 2,568 hectares and has identified multiple gold mineralized trends through advanced geophysical surveys. Etruscus is finalizing discussions with service providers for drilling expected to commence in early May 2023. Additionally, the company is raising up to $1,000,000 through a private placement, successfully closing its first tranche of $542,000. They are offering various units priced at $0.15 and $0.18, each with attached warrants. Shares are trading at $0.15, highlighting a distinct phase of activity for Etruscus as they advance exploration efforts and funding initiatives.

Positive

• Commencement of 2023 drill program at the Lewis Property expected in early May.
• Identification of multiple gold mineralized trends through comprehensive geophysical surveys.
• Successfully closed the first tranche of a private placement raising $542,000.

Negative

• No immediate financial metrics or revenue reported in the PR.

VANCOUVER, British Columbia, April 24, 2023 (GLOBE NEWSWIRE) -- Etruscus Resources Corp. (CSE:ETR) (FSE:ERR) (OTCPink:ETRUF) is preparing for its upcoming 2023 drill program at its Lewis Property in Newfoundland. The road accessible Lewis property is located 5 km south of the Trans Canada Highway in the Gander Gold Belt, approximately 10 km west of New Found Gold’s Keats Zone discovery.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comment from Carl Ryan, Geologist and Project lead on the project. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Etruscus” in the search box.

The Lewis property consists of 103 claims in two claim blocks totaling 2568 hectares in the Exploits Sub-zone of Newfoundland. The company is finalizing discussions with all key service providers and expects to mobilize crews to the property in the coming weeks, with the commencement of drilling in early May.

During the 2022 exploration season, Etruscus completed a comprehensive geophysical survey that identified approximately 4.6 km of highly chargeable structures that when combined with soil and rock sampling, confirm multiple gold mineralized trends. This data outlined large untested drill targets in an area which has produced numerous outcrop samples and glacial float boulders of greater than 20 g/t gold.

The company also has the 100%-owned Rock & Roll property, which along with its 100%-owned Sugar property total 27,880 hectares near the past producing Snip mine in Northwest B.C.'s prolific Golden Triangle.

The company is currently raising gross proceeds of up to $1,000,000 from a combination of flow-through and non-flow-through units. The company is issuing up to 6,600,000 non-flow-through units priced at $0.15 per unit, with each unit consisting of 1 share and one-half a warrant with each full warrant exercisable at $0.22 for 24 months. The company is also issuing up to 5,500,000 flow-through units priced at $0.18 per unit, with each unit consisting of 1 share and one-half a warrant with each full warrant exercisable at $0.27 for 24 months. The company has closed the first $542,000, with some flow-through and regular units still available.

The shares are currently trading at $0.15. For more information, please visit the company’s website www.EtruscusResources.com, or contact Fiore Aliperti, President and CEO, at 604-336-9088 or by email at info@EtruscusResources.com.

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Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers' information only. Etruscus Resources has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the latest update on Etruscus Resources' 2023 drill program at the Lewis Property?

Etruscus Resources is preparing to start its 2023 drill program at the Lewis Property in Newfoundland, expected to begin in early May.

What are the funding plans for Etruscus Resources, stock symbol ETRUF?

Etruscus Resources is raising up to $1,000,000 through a combination of flow-through and non-flow-through units.

What is the current trading price of Etruscus Resources shares?

Shares of Etruscus Resources are currently trading at $0.15.

What geological findings have been reported at Etruscus Resources' Lewis Property?

Etruscus has identified multiple gold mineralized trends based on a geophysical survey, indicating large untested drill targets.

How many claims does the Lewis Property consist of?

The Lewis Property consists of 103 claims totaling 2,568 hectares.