Margaux Resources Announces Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Announces Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Ltd. is pleased to announce that subject to TSX Venture Exchange approval, it intends to issue, pursuant to a non-brokered private placement, up to:

  • 4,375,000 units (“Units”) of the Company at a price of $0.08 per Unit; and
  • 5,000,000 common shares (“Common Shares”) of the Company issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.10 per Flow-Through Share, for aggregate gross proceeds of up to $850,000 (the “Offering”).

Each Unit will consist of one Common Share and one Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder to acquire one Common Share (each a “Warrant Share”) at an exercise price of $0.15 per Warrant Share until 4:30 pm (Calgary time) on that date that is 24 months from the issuance closing date, (the “Expiry Time”) subject to accelerated expiry, if the 20-day Volume Weighted Average Price of the Common Shares on the TSX Venture Exchange exceeds $0.20 per share.

Pursuant to the Offering Margaux will also issue Flow-Through Shares for gross proceeds of up to $500,000. Closing of the Offering is expected to occur on or before November 4, 2018.

“Margaux plans to use the funds raised to further our exploration drilling, enabling us to continue testing gold targets on the Sheep Creek Gold District, as well as to complete geological mapping and other preparatory studies on the Kootenay Arc Zinc District”, commented Company President and CEO, Tyler Rice.

Proceeds of the Offering will be used to pursue the Company’s ongoing exploration and drilling programs and for general working capital. The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of gold, zinc and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and is focused on exploration of the Company’s Kootenay Arc Zinc District, and Sheep Creek Gold District.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, market conditions and the Company’s reasonable commercial efforts regarding financing activities, the ability to close the Offering in the amount anticipated or at all, the use of proceeds of the Offering and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.


CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]

Margaux Resources Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Ltd. is pleased to announce that further to its press release dated August 15, 2018, the Company received final regulatory approval on September 12, 2018 and has closed its previously announced non-brokered private placement (the “Offering”) by issuing 1,486,020 common shares of the Company issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.23 per Flow-Through Share, for gross proceeds of $341,784. Finder’s fees of 6% cash and 6% common share purchase warrants (“Warrants”) were paid on one subscription under the Offering. The Warrants are exercisable for a price of $0.30 until August 15, 2020. The securities issued pursuant to the Offering are subject to a four-month hold period under applicable securities laws.

Insiders of the Company subscribed for 556,521 Flow-Through Shares under the Offering. As a result, the issuance of the Flow-Through Shares to such insiders is considered to be a related party transaction subject to TSX Venture Exchange rules and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the private placement by insiders did not exceed 25% of the fair market value of the Company’s market capitalization.

As previously announced, the proceeds of the Offering will be used to pursue the Company’s ongoing exploration and drilling programs and for general working capital.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of gold, zinc and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and is focused on exploration of the Company’s Kootenay Arc Zinc District, and Sheep Creek Gold District.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the use of proceeds of the Offering and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.


CONTACT INFORMATION

Margaux Resources Ltd. Tyler Rice
President, CEO and a Director (403) 537-5590
[email protected]

Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce that further to its press release dated July 23, 2018 and subject to receiving final regulatory approvals, it has closed the first tranche of its previously announced non-brokered private placement (the “Offering”) by issuing:

  • 1,486,020 common shares (“Common Shares”) of the Company issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.23 per Flow-Through Share, for gross proceeds of $341,784.

Proceeds of the Offering will be used to pursue the Company’s ongoing exploration and drilling programs and for general working capital. The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of gold, zinc and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and is focused on exploration of the Company’s Kootenay Arc Zinc District, and Sheep Creek Gold District.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the ability to close the Offering in the amount anticipated or at all, the use of proceeds of the Offering and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.

CONTACT INFORMATION

Margaux Resources Ltd.

Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]

[Company Name] re-establishes management control over its [Country] operating entity, paves way for resumption of resource drilling at [project name]

[Company Name] re-establishes management control over its [country name] operating entity, paves way for resumption of resource drilling at [project name]

June 28, 2018 – Vancouver, British Columbia –[Company Name] is pleased to announce that further to its news release of February 5, 2018, management control over the Company’s [country] operating entity, [operating entity], has been re-established. [contact name], President and CEO of[Company Name], has been appointed as …

This appointment has been ratified by the [ministry name], and gives [contact name] full and direct legal authority over all aspects of the business of [entity name], paving the way for resumption of resource drilling at[Company Name] [project name] in [country name]. The Company looks forward to providing specific updates on its forthcoming work programs in the near future.

[Company Name] holds an indirect 75% interest in the issued capital of [entity name]. The remaining 25% of [entity name] issued capital is indirectly held by the , a state entity formed for the promotion of the mining and exploration interests in [country name].

[Company Name] hereby takes the opportunity to warmly recognize the outstanding support, transparency and fairness of … and the [country name] Ministry of Mines and Geology in connection with the resolution of this matter.

About [Company Name]

[Company Name] brings together a deeply experienced and successful mining, exploration and capital markets team focused on building multi-million ounce gold resources in the underexplored [continent] countries of [country names] and their neighbouring countries. Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold resources, and by undertaking effective exploration and drill programs,[Company Name] looks to become a leading junior gold resource company.

[Company Name]

[contact name], Executive Chairman

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the resumption of exploration activities at the Mandiana Project. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the Company will resume exploration activities at the Mandiana Project as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company will resume exploration activities at the Mandiana Project as planned; that the Company’s stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, 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, investors should not place undue reliance on forward-looking statements.

Margaux Resources Ltd. Commences 2018 Drill Program; Initiates Testing of Sheep Creek Gold District Mine Dumps for Gold Recovery; Provides Update on Tungsten Tailings

Margaux Resources Ltd. Commences 2018 Drill Program; Initiates Testing of Sheep Creek Gold District Mine Dumps for Gold Recovery; Provides Update on Tungsten Tailings

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce it has commenced its 2018 drill program; has initiated testing of Sheep Creek Gold District historic mine dumps for potential gold recovery; and provides an update on the Company’s tungsten tailings metal recovery and remediation initiative.

Highlights

  • 2018 drill program has commenced.
  • Testing of Reno and Nugget mine dumps initiated (Sheep Creek Gold District) for gold recovery potential.
  • Tungsten tailings testing underway, initial results expected in the upcoming months.
  • Tailings site visit by the Honourable Michelle Mungall, Minister of Energy, Mines and Petroleum Resources for the province of British Columbia.

Commences 2018 Drill Program

Margaux has mobilized a diamond drill rig to the Company’s Kootenay Arc Zinc District and a 1,000 metre, NQ2-sized drill program has commenced. Drilling is testing a north-northeast trending airborne EM conductor located west of both the historic Jersey lead-zinc and the Emerald tungsten mines. The program, which will consists of 4 or 5 drill holes, is targeting gold skarn related mineralization within a thick sequence of limestone and meta-sediments.

Drill targets for the Sheep Creek Gold District are being finalized and drilling to test these gold targets is expected to commence in June-July once the higher elevation snow pack has melted allowing for access to the property. Further information on the Sheep Creek Gold District drill program will be released shortly.

For greater information on Margaux’s 2018 drill program, please see the latest video on the Company website at https://margauxresources.com/.

Testing of Sheep Creek Gold District Mine Dumps

Margaux has also initiated lab-scale testing of historic mine dumps within the Company’s Sheep Creek Gold District, to determine the potential for gold recovery. Under the direction of CRONIMET Mining Processing AG (“CRONIMET”), samples of dump material from the historic Reno and Nugget mines are being tested for sensor-based sorting in an independent research facility. Sorting methodology to be tested will include inductive electromagnetics, visual range optical and near-infrared sorting, as well as x-ray transmission.

The Reno and Nugget mines are two of the highest grade historic gold producers in the Sheep Creek Gold District. Total historic production from the Reno mine is 237,200 tonnes at an average grade of 19.2 g/t gold, and from the Nugget is 51,150 tonnes, also at an average grade of 19.2 g/t gold (2). Historical cut-off grade for the mines is reported as 8.5 g/t gold.

The Company’s dump sampling program is the first step in characterizing these dumps in terms of quantity and grade of contained vein material, and in determining whether existing sorting technology can separate this mineralized material from waste rock, for economic milling/gold recovery. This work will determine whether the Company proceeds with bulk sample permit applications for the mine dumps.

Tungsten Tailings Update

As previously announced, Margaux is performing a preliminary assessment of the Company’s brownfield historical tungsten tailings, to assess the viability of remediating the tailings site, and the potential to economically produce a marketable mineral concentrate from the entirety of the tailings deposit. For this project, the Company has formed partnerships with CRONIMET Mining Processing AG (“CRONIMET”) (see Company press release September 13, 2017), who brings global expertise in mineral processing and metal recovery from low-grade waste rock and mine tailings, and with the Salmo Watershed Streamkeepers Society (“Streamkeepers”), who provides guidance and expertise with regards to environmental issues (see Company press release August 18, 2017).

The Company’s tungsten tailings project represents the waste product from historic tungsten mining at the Emerald tungsten mine. The precise quantity of tailings is unknown, however mine records document 1.45 million tonnes of production at an average grade of 0.76% W03 and with a tungsten recovery rate from milling of 82% (1).

In 2017, Margaux and its partners completed a sampling program as a first-step method of confirming tungsten content within the tailings. A total of 84 assays were completed, reflecting samples collected from different depths at 11 sites within the tailings deposit. The average grade, based on these 84 individual samples, was 0.11% tungsten trioxide (W03). This correlates well with the expected grade based on production and recovery records.

The second-step was the collection of a 3,500 kg small-scale sample of the tailings material which was shipped to CRONIMET for testing. The test work by CRONIMET is underway to fully characterize the tailings for metal content and for other components which may be recoverable, and to determine practical and economical processing options. Initial results are expected in the upcoming months.

In conjunction with the ongoing test work, Margaux is preparing a joint application to the British Columbia Ministry of Energy, Mines & Petroleum Resources, and the Ministry of Environment & Climate Change Strategy, for a Permit under the BC Mines Act to undertake a Bulk Sample of up to 10,000 tonnes of historic tailings, which includes an on-site pilot scale processing facility (see Company press release February 7, 2018). Once test work is complete and details of the process methodology are finalized, the joint application for the bulk sample testing program will be submitted.

Pre-application meetings with various regulatory personnel have been positive, including a recent site visit to the tungsten tailings by the Honourable Michelle Mungall, Minister of Energy, Mines and Petroleum Resources for the province of British Columbia.

Notes

(1) Lawrence, E.A., 1974. A Summary Report of the Production History and Geology of the Salmo Division, Canex Placer Limited, Canex Placer Limited, Tungsten Division, Salmo B.C., February 1974.
(2) Matthews, W.H., 1953. Geology of the Sheep Creek Camp, BC Department of Mines Bulletin 31.

Qualified Person

Linda Caron, M.Sc., P.Eng, Margaux’s Vice President of Exploration, is the Company’s Qualified Person as defined by NI 43-101 who has reviewed and approved the technical information contained within this press release.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of gold, zinc and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and is focused on exploration of the Company’s Kootenay Arc Zinc District, and Sheep Creek Gold District.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, the timing of reporting exploration results, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.


CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]

Margaux Resources Ltd. Provides 2018 Update on the Sheep Creek Gold District; 6,000 m of Diamond Drilling Planned to Test Gold Targets

Margaux Resources Ltd. Provides 2018 Update on the Sheep Creek Gold District; 6,000 m of Diamond Drilling Planned to Test Gold Targets

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to provide an update on the 2018 work program for the Company’s Sheep Creek Gold District, in southeastern BC. Approximately 6,000 m of diamond drilling is planned (25 holes) to test gold targets within the Sheep Creek Gold District in 2018; drilling is expected to commence in June.

Key Highlights

  • 6,000 m of diamond drilling to test gold targets to commence in June 2018.
  • Drilling on recently consolidated Sheep Creek Gold District; Margaux now controls over 96% of the area.
  • Drill targets to include Ore Hill gold anomaly; anomaly grab samples returned high-grade gold values including 119 g/t and 105 g/t Au.

The Sheep Creek Gold District has historical gold production of 785,000 ounces at an average grade of 14.4 g/t gold (1) from multiple high-grade orogenic gold veins, making it the 3rd largest past-producing orogenic gold district in British Columbia. Margaux has consolidated mineral tenure in the Salmo area over the past several years through various option and purchase agreements, and through strategic staking. The Company now controls over 96% of the Sheep Creek Gold District by area (and over 85% by historical gold production) making it the first time since gold was discovered here in the late 1890’s that this land has been under single management. 2017 was Margaux’s first year of exploration on the property and the first time that effective modern exploration across the consolidated land package has been possible.

In terms of global endowment (past production + resources + reserves), orogenic gold, including related placer gold, is the most significant deposit type, accounting for over 50% of global gold (2). Archean-aged greenstone gold belts have long been recognized for their ability to host multi-million-ounce orogenic gold deposits. In more recent years, an understanding of gold districts within the Cordillera, from the Motherlode District in California, to the Bralorne, Cariboo (Barkerville) and Sheep Creek Districts in British Columbia, the Klondike/White Gold District of the Yukon, and the Juneau and Nome Districts in Alaska, has shown how gold in all these areas relates to the Cordilleran orogeny and how there remains good upside exploration potential within this region for both high-grade vein-type and low-grade bulk tonnage gold mineralization (3).

At Sheep Creek, historic mining was directed at high-grade gold-bearing veins. Veins are strongly controlled by structure and lithology. Margaux has compiled historic information and undertaken a 3D computer modelling project, incorporating historic underground mine workings, geological and structural information from surface, drill holes and underground, to generate targets for drill testing in 2018.

One of the highlights for work in 2018 is the Ore Hill area, in the southern portion of the Sheep Creek Gold District. At Ore Hill, a gold soil anomaly, 1,500 m long by up to 150 m wide is known from historic exploration work. 2017 rock samples collected within a 950 m x 150 m area by Margaux, returned the grab sample results shown in the table and illustrated in the figure below (see Company news release September 20, 2017 for further details). Ore Hill is a high priority target for drill testing in 2018. In addition, a ground geophysical survey is planned for 2018, to help refine targets for drilling.

Table 1 Ore Hill Rock Sample Results

Figure 1 Ore Hill Gold Soil Anomaly

Notes

(1)  Production records for historic Sheep Creek and Bayonne mining camps from:

-Matthews, 1953. Geology of the Sheep Creek Camp, BC Department of Mines, Bulletin 31.
-Minfile 082FSE030, Bayonne.

(2) Allan, M., 2018. Orogenic Gold Deposits of British Columbia, Kamloops Exploration Short Course, April 2018.
(3) Allan, M. et al, 2017. Orogenic gold mineralization of the eastern Cordilleran gold belt, British Columbia:

-Structural ore controls in the Cariboo, Cassiar and Sheep Creek mining districts, Geoscience BC report 2017-15.
-Hart, C. and R. Goldfarb, 2017. Constraints on the metallogeny and geochronology of the Bridge River gold district and associated intrusions, southwest British Columbia, Geoscience BC Report 2017-08.
-Mortensen, J., et al, 2011. Investigation of orogenic gold deposits in the Cariboo gold district, east-central British Columbia, Geoscience BC Report 2011-1.
-Bailey, L., 2013. Late Jurassic fault-hosted gold mineralization of the Golden Saddle deposit, White Gold District, Yukon. UBC MSc. Thesis.

Samples reported in this release were primarily grab samples collected from outcrop or from the dumps of historic workings. Grab samples are designed show the presence or absence of mineralization and to characterize mineralization. They are not intended to provide a representative indication of average grade of mineralization. Samples were shipped to ActLabs’ Kamloops, B.C. laboratory (ISO 9001:2008, ISO 17025, CAN-P-1579 certification) for preparation and analysis. Samples were crushed at the lab to 80% passing a 10 mesh (2 mm) screen, then a 250 g split of the crushed sample was pulverized to 95% passing 105 microns. All samples were analysed for gold by FA/AA finish on a 30 g sample of pulverized material, and for a multi-element suite by ICP-MS following aqua regia digestion. For samples returning > 10 g/t Au by FA/AA methods, gold was assayed by FA/gravimetric methods on a 30 gm sample. Samples returning >5000 ppm Pb or Zn, >200 ppm W or >10000 ppm Cu were assayed using peroxide fusion/ICP-MS techniques.

Qualified Person

Linda Caron, M.Sc., P.Eng, Margaux’s Vice President of Exploration, is the Company’s Qualified Person as defined by NI 43-101 who has reviewed and approved the technical information contained within this press release.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of gold, zinc and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and is focused on exploration of the Company’s Kootenay Arc Zinc District, and Sheep Creek Gold District.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, the timing of reporting exploration results, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.

CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]

Margaux Resources Announces Financing Increase and Closing of $3.25 Million Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Announces Financing Increase and Closing of $3.25 Million Non-Brokered Private Placement of Flow-Through Shares and Units

CALGARY, ALBERTA — (December 22, 2017)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce that the Company received in excess of the previously announced $3 million non-brokered private placement (please see press releases dated November 2, December 7 and December 14, 2017), and subject to receiving final regulatory approvals, has increased and closed the second tranche of the non-brokered private placement (the “Offering”) by issuing:

⦁ 1,377,600 units (“Units”) of the Company at a price of $0.30 per Unit; and
⦁ 3,076,521 common shares (“Common Shares”) of the Company issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.36 per Flow-Through Share, for aggregate gross proceeds raised under the second tranche of $1,520,828 (the “Offering”).

Gross proceeds raised under the first and second tranche of the Offering are $3.25 million.

Each Unit consists of one Common Share and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share (each a “Warrant Share”) at an exercise price of $0.40 per Warrant Share until 4:30 pm (Calgary time) on that date that is 24 months from the issuance closing date, (the “Expiry Time”) subject to accelerated expiry, if the 20-day volume weighted average price of the Common Shares on the TSX Venture Exchange exceeds $0.50 per share.

Proceeds of the Offering will be used to:
⦁ Continue the Company’s ongoing exploration and drill programs at its Kootenay Arc project in Salmo, BC;
⦁ Progress the Company’s tungsten tailings recycling project towards a pilot phase; and
⦁ For general working capital.

“Our 2017 surface and drill program provided us with a wealth of new data on our properties. The funds from this raise will enable a full review of the data, high-grading the targets these programs identified ahead of a large 2018 spring drill program, as well as continue the evaluation of the tailings recycling with CRONIMET” commented Margaux’s President and CEO, Tyler Rice.

The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants.

About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the 2nd largest tungsten mine in North America.

Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.

CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]

Margaux Resources Announces Extension for Completion of its Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Announces Extension for Completion of its Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) announces it has been granted an extension of its previously-announced non-brokered private placement for aggregate gross proceeds of up to $3 million (the “Offering”) until December 22, 2017.  Additional details regarding the Offering can be found in the Company’s news release dated November 2, 2017 and December 7, 2017.

Subject to final TSX Venture Exchange approvals, the allocation of the Offering between the previously announced units and common shares (issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada)) are subject to change, provided that the total proceeds of the Offering do not to exceed $3 million.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the 2nd largest tungsten mine in North America.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, as well as other market conditions, the Company’s reasonable commercial efforts regarding financing activities, the ability to close the Offering in the amount anticipated or at all. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws. 

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. 

CONTACT INFORMATION

Margaux Resources Ltd.

Tyler Rice

President, CEO and a Director

(403) 537-5590

[email protected]

Margaux Resources Announces Significant Expansion of its Kootenay Arc Project Holdings, Plus High-Grade Gold Grab Sample Results from Sheep Creek and Bayonne

Margaux Resources Announces Significant Expansion of its Kootenay Arc Project Holdings, Plus High-Grade Gold Grab Sample Results from Sheep Creek and Bayonne

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce that it has acquired additional claims to expand the Company’s Kootenay Arc project holdings in southeastern British Columbia. In addition, the Company has received high-grade gold grab sample results from the Sheep Creek and Bayonne properties.

Key Highlights

  • 1,670 hectares of newly acquired mineral claims; orogenic gold mineralization favourable area
  • High-grade gold sample at Sheep Creek including up to 15.5 g/t Au
  • 13.0 g/t Au grab sample returned from Bayonne
  • New vein discovered at Bayonne

The new acquisitions include 13 mineral claims, totalling 1,670 hectares (an 8% increase in Margaux’s mineral claims holdings), which were attained from a third party for staking costs. The claims are contiguous to the Company’s Sheep Creek, Ore Hill and Jersey properties, as shown on the below map. Margaux Resources’ Kootenay Arc project now includes over 24,500 hectares of mineral tenure.

“2017 is proving to be an exceptional year for exploration on the Company’s Kootenay Arc Project.  This year’s efforts have produced significant results and contributed greatly to the identification and delineation of the mineralizing systems,” stated Linda Caron, Vice President of Exploration for Margaux Resources. “The newly acquired claims encompass the extension of the favourable geological setting that hosts the orogenic gold mineralization revealed to date, are highly prospective for additional discoveries and are a further step in the consolidation of a dominant land package.”

Additionally, Margaux has received rock sample results from its fall 2017 work program, as listed in the table below. At Sheep Creek, sampling confirmed high grade gold values from the Motherlode and Bluestone veins, including grab sample values of up to 15.5 g/t Au. And at Bayonne, the sampling returned values of up to 13.0 g/t Au, which represents a newly discovered vein, located 150 m east of the eastern-most point on the Bayonne Main vein.

PropertyTargetAu(g/t)Ag(ppm)
Sheep CreekBluestone8.518.6
Sheep CreekBluestone7.590.9
Sheep CreekMotherlode9.231.8
Sheep CreekMotherlode15.501.7
BayonneNorth Ridge13.0022.2

Finally, Margaux is excited to announce that the fall 2017 work program is in its last phase of drilling. The Company is currently drilling at its Sheep Creek gold property, with results expected early in 2018.

Tyler Rice, Margaux’s President and CEO stated “We’re pleased with the on-going progress of the drilling on our Sheep Creek gold property and eagerly look forward to the assay results in the new year. The surface grab samples continue to impress us with their high-grade nature and provide multiple drilling targets for 2018.”

Notes

Results reported in this release are grab sample results collected from surface outcrops or from the dumps of historic workings. Grab samples are intended to show the presence or absence of mineralization and are not expected to be representative of average grade. Samples were shipped to ActLabs’ Kamloops, B.C. laboratory for preparation and analysis. Actlabs is an independent laboratory, recognized with expertise in analytical geochemistry and certified with ISO 9001:2008, ISO 17025, CAN-P-1579 certification. At the lab, samples were crushed so that 80% passes through a 10 mesh (2 mm) screen, then a 250 g split of the crushed sample was pulverized to 95% passing 105 microns. All samples were analysed for gold by FA/AA finish on a 30 g sample of pulverized material, and for a multi-element suite by ICP-MS following aqua regia digestion of a 0.5 g sample. For samples returning > 5 g/t Au by FA/AA methods, gold was assayed by FA/gravimetric methods on a 30 g sample. Industry best-practise QA/QC procedures were implemented during the sampling program, including the insertion of analytical blanks and standards at regular intervals.

Qualified Person

Linda Caron, M.Sc., P.Eng, Margaux’s Vice President of Exploration, is the Company’s Qualified Person as defined by NI 43-101 who has reviewed and approved the technical information contained within this press release.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the 2nd largest tungsten mine in North America.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.

CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]

Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce that further to its press release dated November 2, 2017 and subject to receiving final regulatory approvals, it has closed the first tranche of its previously announced non-brokered private placement (the “Offering”) by issuing:

⦁ 4,399,999 units (“Units”) of the Company at a price of $0.30 per Unit; and
⦁ 1,134,943 common shares (“Common Shares”) of the Company issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.36 per Flow-Through Share, for aggregate gross proceeds of $1.7 million (the “Offering”).

Each Unit consists of one Common Share and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share (each a “Warrant Share”) at an exercise price of $0.40 per Warrant Share until 4:30 pm (Calgary time) on that date that is 24 months from the issuance closing date, (the “Expiry Time”) subject to accelerated expiry, if the 20-day volume weighted average price of the Common Shares on the TSX Venture Exchange exceeds $0.50 per share.

Gross proceeds raised under the first tranche of the Offering are $1,728,580.

Proceeds of the Offering will be used to:
⦁ Continue the Company’s ongoing exploration and drill programs at its Kootenay Arc project in Salmo, BC;
⦁ Progress the Company’s tungsten tailings recycling project towards a pilot phase; and
⦁ For general working capital.

The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants.

About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the 2nd largest tungsten mine in North America.

Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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.

CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]