TORONTO, ONTARIO, February 4, 2016 – Braveheart Resources Inc. (TSXV: BHT) (“Braveheart” or, the “Company”) is pleased to announce the latest progress on the Bulk Sampling project on its Whitewater gold property in southeastern British Columbia.
The Company transported 354 kg of material to Mt. Baker Mining & Metals in Bellingham, WA where it was crushed and screened. The 354 kg rock sample assayed 15.5 g/t of gold. A concentrated sample of 3.1 kg assayed 1,240 g/t of gold. Overall gold recovery from the sample was 70% using only gravimetric methods.
All assaying has been performed by Met-Solve Analytical Services located in Langley, BC.
As a result of this bulk sample from the Whitewater property, the Company will apply for
a bulk sampling permit of up to a thousand tons for the same property. The Company has received a Notice of Work (NOW) permit from the British Columbia Ministry of Energy and Mines to commence a 1,500m drill program on the same Whitewater property for the
summer of 2016.
In addition, the Company announces that it is doing a financing of up to $500,000 comprised of units and flow through units at $0.05. Each unit includes one common share and a warrant which entitles the holder to acquire one additional common share at a price of $0.10 for 18 months. The flow through units include one common share and one-half warrant where each warrant entitles the holder to acquire one additional common share at $0.10 for 18 months. The proceeds of the financing will be used to advance the Company’s exploration efforts in British Columbia and for general working capital.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior exploration company focused on building shareholder wealth through aggressive exploration in a favorable and proven mining jurisdiction - the West Kootenays in southeast British Columbia (silver and gold). Braveheart's shares are listed for trading on the TSX Venture Exchange under the symbol BHT.V. Braveheart has approximately 19,369,506 common shares issued and outstanding.
Braveheart’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Mr. Jim Decker, P.Eng., a director of Braveheart who serves as a qualified person under the definition of National Instrument 43-101.
David W. Johnston, CEO/President
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward- looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, (more) uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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 of this news release.