Golden Pursuit Achieves Permit Approvals for Exploration at Its South Gordon Lake Project, NWT

Rhea-AI Summary

Golden Pursuit Resources Ltd. (TSX-V:GDP) has received permit approvals from the Mackenzie Valley Land and Water Board for its South Gordon Lake Project (SGLP), enabling exploration for up to 7 years. The SGLP, located 90 kilometers from Yellowknife, holds significant historical gold occurrences, including five past producers. The company retains full ownership with no royalty obligations. CEO Brian McClay emphasized the milestone as a result of collaboration with Indigenous Peoples and regulators, paving the way for upcoming exploration.

Positive

• Permits received from MVLWB enable 7-year exploration program at SGLP.
• 100% ownership of significant historical gold occurrences.
• No royalty or payment obligations, ensuring higher profit margins.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 12, 2022 / Golden Pursuit Resources Ltd. (TSX-V:GDP) (Golden Pursuit or the "Company") is pleased to announce the receipt of permit approvals from the Mackenzie Valley Land and Water Board ("MVLWB"). These permits include Land Use permits to allow work on territorial and federal lands and a Water License to allow water use up to 300 cubic meters a day. These permits and license will allow the Company to operate their exploration program for up to 7 years on their South Gordon Lake Project ("SGLP" or "the project"). The SGLP is located 90 kilometers north-northeast of Yellowknife, Northwest Territories and is centered around the south end of Gordon Lake.

The Company has 100% ownership of all significant, known, historic mineralization, occurrences and historical in the project area. The Project comprises ten (10) historical occurrences, five (5) of these are past historical gold producers, that are covered by 18 territorial and 13 federal claims along with 4 historical mining leases. The properties in the project area have been extensively explored and mined since the 1930's. The properties have no royalty or payment obligations to outside interests aside from two small leases recently purchased which have buyback options.

With the benefit of having the MVLWB permits in hand, Golden Pursuit will now evaluate and prepare for a detailed exploration program outlined in the Company's June 2022 NI 43-101 report with special focus on the breccia zones located in the regional refold area located in the area south of Gordon Lake, the area of deep drilling at the Camlaren Mine and the Lynk Zone near Kidney Pond.

Brian McClay, President and CEO, commented, "Receiving the MVLWB Permits for SGLP is a major milestone for Golden Pursuit and represents the culmination of extensive engagement, collaboration and consultation with Indigenous Peoples of the NWT and the Federal/Territorial Regulators. We are grateful that our community-centred approach to responsible mineral development and environmental stewardship was a vision shared by all parties involved in the permitting process. We would like to thank all stakeholders for their support as we navigated the permitting process and are looking forward to the next chapter as we advance the South Gordon Lake Project."

Qualified Person

The South Gordon Lake Project exploration program is being conducted under the direction of Gary Vivian, M.Sc., P. Geol. (NWT/NU, BC and AIPG), Chairman of Aurora Geosciences Ltd and a Qualified Person under the NI 43-101. Mr. Vivian has reviewed and approved the technical contents of this press release

On behalf of the Board of Directors of Golden Pursuit Resources Ltd.
"Brian A. McClay"
President & CEO

About Golden Pursuit Resources Ltd.

Golden Pursuit is a Canadian-based junior exploration and development company focused on development the Company's portfolio of advanced exploration and past-producing gold mines in the NWT and exploration projects in Nevada. Golden Pursuit shares trade on the TSX-V. Concurrent with progressing the development of the SGLP, the Company continues to compile historic data that documents the extensive work completed on its properties. Golden Pursuit is committed to the safe and responsible development of its projects in collaboration with all Aboriginal and other stakeholders that are impacted by work conducted on the Company's projects.

For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com or visit the Company's web site at www.goldpusuit.ca

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements regarding the Company's exploration and development plans or the success of the Projects.

Although Golden Pursuit believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Golden Pursuit can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Golden Pursuit's periodic filings with Canadian securities regulators, and assumptions made with regard to: the anticipated benefits of the Agreement, the estimated costs associated with exploration of the Company's projects; Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Golden Pursuit's expectations include risks associated with the implementation of the Agreement, risks associated with the business of Golden Pursuit; risks related to exploration and potential development of Golden Pursuit's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; risks associated with COVID-19 including adverse impacts on the world economy, construction timing and the availability of personnel; and other risk factors as detailed from time to time and additional risks identified in Golden Pursuit's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). The timing of future economic studies; labour disputes and other risks of the mining industry or delays in obtaining governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Golden Pursuit does not undertake any obligation to update forward-looking statements.

SOURCE: Golden Pursuit Resources Ltd.

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https://www.accesswire.com/715493/Golden-Pursuit-Achieves-Permit-Approvals-for-Exploration-at-Its-South-Gordon-Lake-Project-NWT

FAQ

What permits did Golden Pursuit Resources Ltd. receive for FPVTF?

Golden Pursuit received Land Use permits and a Water License from the Mackenzie Valley Land and Water Board for the South Gordon Lake Project.

How long is the exploration program allowed to operate on the South Gordon Lake Project for FPVTF?

The exploration program is permitted to operate for up to 7 years.

Where is the South Gordon Lake Project located for FPVTF?

The South Gordon Lake Project is located 90 kilometers north-northeast of Yellowknife, Northwest Territories.

What historical gold occurrences are associated with the South Gordon Lake Project for FPVTF?

The project area comprises ten historical occurrences, including five past gold producers.

What impact do the new permits have on Golden Pursuit Resources Ltd. and FPVTF?

The new permits allow Golden Pursuit to advance its exploration plans, potentially enhancing shareholder value.