Guskin Gold Issues Shareholder Update on Kukuom Project

Rhea-AI Summary

Guskin Gold Corp (OTCQB:GKIN) announces an increase in its ownership interest to 70% and expands the Kukuom Concession property size to 156 square kilometers. The company plans to advance its operations focusing on gold exploration and production from alluvial and hard rock deposits. Historical gold production in the nearby Sefwi-Bibiani Gold Belt showcases significant potential, with initial samples showing impressive gold grades of up to 46.6 grams per tonne. Guskin Gold aims to leverage its position and expertise in Ghana's gold mining sector.

Positive

• Increased ownership interest to 70%.
• Expansion of the property size to 156 square kilometers.
• Initial gold sample grades reaching up to 46.6 grams per tonne.

Negative

• None.

Company Highlights

• Increases ownership interest to 70%
• Increases property size to 156 square kilometres
• Sole and exclusive operator

SAN JOSE, CA / ACCESSWIRE / February 3, 2022 / Guskin Gold Corp (OTCQB:GKIN) ("Guskin Gold" or the "Company") is pleased to issue a shareholder update on the Kukuom Concession.

As previously announced on February 01, 2022, Guskin Gold entered into a Joint Venture and Partnership Agreement with Danampco Company Limited ("DCL"). The Company and DCL intend to move forward immediately with operations including the continued exploration of the property and the further development of mining operations and gold production from alluvial and hard rock deposits on the Concession.

Notably, under the new contract the Company increases its ownership interest to 70%, and the property increases from one (1) square kilometer surface area to 156 square kilometers.

The Kukuom Concession is located in the highly renowned Sefwi-Bibiani Gold Belt between the cities of Goaso and Bibiani. Known gold producers including Newmont, Kinross, Anglogold Ashanti and Asanko Gold, and are all within 100km of the Kukuom Project area. Historical production in the Sefwi-Bibiani gold belt include Newmont's world class Ahafo Mine with over 17 million ounces of gold, Kinross' Chirano Mine at 5 million ounces, and the historic Bibiani Mine with 7 million ounces.

As reported on September 15th, 2021, initial samples collected at the Kukuom property tested up to 46.6 grams per tonne gold. In preparation for a proposed drill and open pit bulk testing program, the Company collected six (6) samples on the Kukuom property from the hard rock vein, surrounding open pit wall, and two historic alluvial tailing piles found onsite. Most notably, three samples were taken from two bedrock pits exposed vein and measured 46.6 grams per tonne (g/t) and 10.65 g/t gold. The third sample was a combination of both pits, crushed, and panned with the slurry measuring 23.3 g/t gold. Additionally, a random wall sample taken measured 1.84 g/t gold, and samples of two historic tailing piles were also taken to be studied. Historic tailing samples may be of interest for studies of historic artisanal mine locations, non-modern mining techniques, the gold left behind from the alluvial payload. The two samples contained 1.14 g/t and 0.80 g/t gold.

About Guskin Gold Corp.

Guskin Gold Corp. (OTCQB:GKIN) is a mining company publicly traded in the United States, with its head office in Santa Clara, California. Guskin is focused on gold exploration and alluvial mining in Ghana, the number one gold producer in Africa and seventh largest gold producing country in the world. The company's leadership team is world-class. Many are native to Ghana, all offer specialized expertise in the business of gold exploration, mining, public markets, and finance. And all are passionately committed to the success of the company, our partners, and investors. For additional information please visit www.guskingold.com.

Contact Information

Mrs. Naana Asante
Chief Executive Officer
Tel: + (408) 766-1511
naana.asante@guskingold.com
www.guskingold.com

Qualified Person Statement

Guskin Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Owusu Sekyere Boateng, P.Eng. MEng, who serves as a qualified person under the definition of National Instrument 43-101. The reader is cautioned that grab rock samples while not representative of the grade of mineralization of an occurrence or target, are useful in prospective determination and geological features.

Forward-Looking Statements and Disclosure

This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the exploration and exploitation of the Kukuom Concession, new mineral and/or gold projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties in Ghana and internationally. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

SOURCE: Guskin Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/687075/Guskin-Gold-Issues-Shareholder-Update-on-Kukuom-Project

FAQ

What is the current ownership interest of Guskin Gold in the Kukuom Concession?

Guskin Gold has increased its ownership interest to 70% in the Kukuom Concession.

What is the size of the Kukuom Concession after the recent expansion?

The Kukuom Concession has been expanded to 156 square kilometers.

What are the gold grades reported from initial samples at Kukuom?

Initial samples from the Kukuom property showed gold grades of up to 46.6 grams per tonne.

What are the future plans for the Kukuom Concession by Guskin Gold?

Guskin Gold plans to continue operations, including further exploration and development of mining operations.

When was the shareholder update on the Kukuom Project issued?

The shareholder update was issued on February 3, 2022.