ST. JAMES GOLD CORP. RECEIVES TSXV FINAL ACCEPTANCE FOR FLORIN GOLD PROJECT OPTION AGREEMENT

Rhea-AI Summary

St. James Gold Corp. has received final approval from the TSX Venture Exchange for its option and joint venture agreement with Florin Resources Inc., allowing the company to acquire up to an 85% interest in the Florin Gold Project. The effective date for this agreement is July 5, 2021. St. James Gold will utilize proceeds from a recently completed private placement to fund initial cash payments and exploration expenses. This project covers nearly 22,000 acres in the Tintina Gold Belt, bolstering the company's growth strategy in mineral exploration.

Positive

• Received TSXV approval for acquisition of up to 85% stake in Florin Gold Project.
• Significant project area of nearly 22,000 acres in a notable gold belt.
• Funds from private placement will support exploration and cash obligations.

Negative

• None.

Vancouver, British Columbia, July 05, 2021 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has received final acceptance from the TSX Venture Exchange (the “TSXV”) in respect of the option and joint venture agreement entered into by the Company with Florin Resources Inc. dated April 1, 2021, as amended (the “Option Agreement”). Pursuant to the Option Agreement the Company can acquire up to an 85% interest in the Florin Gold Project, as previously announced by the Company on April 6, 2021 and June 7, 2021. For purposes of the Option Agreement, the Effective Date, being a reference date for certain payment and expenditure obligations, is July 5, 2021. The Company intends to use the net proceeds from the recently completed private placement financing to fund the initial cash payment and first year exploration expenditures required under the Option Agreement. The Option Agreement and a copy of the amendments are available for viewing on the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.

About St James Gold Corp.

St. James Gold Corp. is a publicly traded company listed on the TSXV under the trading symbol “LORD”, in the U.S. Market listed on the OTCQB under the trading symbol “LRDJF” and on the Frankfurt Stock Exchange under the trading symbol “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well delineated geological theories, integrating all available geological, geochemical and geophysical datasets, and funding efficient exploration programs. The Company has an option to acquire up to an 85% interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historic Tintina Gold Belt in the Yukon Territory. The Company also holds an option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland adjacent to New Found Gold Corp.’s Queensway North project, and an option to acquire a 100% interest in 28 claims covering 1,730 acres in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property. For more corporate information please visit: http://stjamesgold.com/

St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements in this news release relate to, among other things: the expected use of the proceeds of the Offering and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s publicly filed documents under the Company’s profile on the System for Electronic Documents Analysis and Retrieval (“SEDAR”) at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its publicly filed documents on SEDAR is not exhaustive and other factors could materially affect its results. New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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.

FAQ

What is the significance of the TSXV approval for LRDJF?

The TSXV approval allows St. James Gold Corp. to proceed with acquiring up to an 85% interest in the Florin Gold Project, which is crucial for its growth strategy.

When is the effective date for the Florin Gold Project option agreement?

The effective date for the option agreement is July 5, 2021.

How will the private placement funds be used for LRDJF?

Proceeds from the private placement will be used for the initial cash payment and first-year exploration expenses related to the Florin Gold Project.

What area does the Florin Gold Project cover?

The Florin Gold Project covers nearly 22,000 contiguous acres in the Tintina Gold Belt in the Yukon Territory.

What are the trading symbols for St. James Gold Corp.?

St. James Gold Corp. trades under the symbol LRDJF in the U.S., LORD on the TSXV, and BVU3 on the Frankfurt Stock Exchange.