VANCOUVER, British Columbia, January 20, 2025--(BUSINESS WIRE)--Solstice Gold Corp. (TSXV: SGC) ("Solstice", "we", "our" or the "Company") is pleased to announce that Michael Gentile has increased his ownership stake in the Company to 16.76% via an open market share purchase to become the Company’s largest shareholder. Company ownership by the Board of Directors now sits at 38.80%.
Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant top five ownership stakes in over 20 small-cap mining and mining exploration companies.
In addition to being a director of Solstice, he is currently a director of Northern Superior Resources (TSX-V: SUP), OnGold (TSX-V: ONAU), Radisson Mining Resources (TSX-V: RDS), Roscan Gold (TSX-V: ROS), Group Eleven Resources (TSX-V: ZNG), and a Strategic Advisor to Northisle Copper and Gold (TSX-V: NCX).
Pablo McDonald, Solstice CEO stated, "On behalf of the Company and its minority shareholders, we are very pleased to see such a strong show of support from Michael to increase his stake in Solstice to become our largest shareholder. Michael is an accomplished leader in the junior mining sector whose exceptional track record in investing in and developing junior miners speaks for itself. His recent acquisitions to increase his position to 16.76% ownership shows that he recognizes of the value and upside that Solstice holds."
Mr. Gentile stated, "I decided to increase my holdings in Solstice in part because the recently acquired Strathy Gold Project is an especially exciting land package in the Abitibi Subprovince, where recent IP results show that anomalies have large scale potential in undrilled areas that are structurally linked to significant gold intercepts. This is a rarity in the Abitibi and presents the opportunity for significant discovery.
Beyond the Strathy Gold Project Solstice Gold holds an attractive portfolio of district-scale grassroots projects such as their Qaiqtuq Gold Project in Nunavut which spans 662 sq km and is located only 7km from the Meliadine Gold Mine owned by Agnico Eagle Mines and the Company’s extensive and strategically located land holdings in Ontario. At the currently depressed market cap of only 3 million dollars, these projects have the potential to lead to exceptional value creation for shareholders."
About Solstice Gold Corp.
Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. Our 41 km2 Strathy Gold Project hosts high grade gold mineralization over a wide area straddling two NE-SW-trending structures. It is located in the Abitibi Subprovince of the Superior Craton and has never been systematically explored in its history. A recent 17.5 line km Alpha IP survey defines 50 new targets on SGC claims. Large, continuous IP anomalies are structurally linked to areas of significant gold intercepts and are largely untested, presenting the opportunity for significant discovery.
Our Qaiqtuq Gold Project which covers 662 km2, hosts a 10 km2 high grade gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 km from Rankin Inlet and approximately 7 km from the Meliadine Gold Mine owned by Agnico Eagle Mines Limited.
Our district-scale Atikokan Gold Project is approximately 26 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited. Our 194 km2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake Camp in Ontario and approximately 45 km from the Red Lake Mine Complex owned by Evolution Mining.
An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October 2021. Well over $2.5 million in value and three new royalties have been generated since the acquisition.
Solstice is committed to responsible exploration and development in the communities in which we work. For more details on Solstice Gold, our exploration projects and details on our recently acquired portfolio of projects please see our Corporate Presentation available at www.solsticegold.com.
Solstice’s Chairman, David Adamson, was a co-award winner for the discovery of Battle North Gold Corporation's Bateman Gold deposit and was instrumental in the acquisition of many of the district properties in the Battle North portfolio during his successful 16 years of exploration in the Red Lake.
Sandy Barham, M.Sc., P.Geo., Senior Geologist, is the Qualified Person as defined by NI 43-101 standards responsible for reviewing and approving the technical disclosures of this news release.
Neither 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.
Forward-Looking Statements and Additional Cautionary Language
This news release contains certain forward-looking statements ("FLS") including, but not limited to that the geological and structural setting at the Strathy Gold Project is highly prospective for gold mineralization, that further evaluation the of the Project will lead to increased valuation, and prospectivity at the Qaiqtuq Project is in anyway similar to the Meliadine Mine. FLS can often be identified by forward-looking words such as "approximate or (~)", "emerging", "goal", "plan", "intent", "estimate", "expects", "potential", "scheduled", "may" and "will" or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. In respect of the FLS, the Company has made certain assumptions that management believes are reasonable at this time. The assumptions include that the Company will have sufficient financial resources for sampling and prospecting this year, that gold discoveries will be to the level anticipated however, there can be no assurance that such assumptions and statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from any FLS include, but are not limited to, limited capital or access to additional capital for prospecting, delays in obtaining or failures to obtain required TSXV, governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, regulatory approvals and other factors. FLS are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.
Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the FLS. Shareholders are cautioned not to place undue reliance on FLS. By their nature FLS involve numerous assumptions, inherent risks and uncertainties, both general and specific that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Solstice undertakes no obligation to update publicly or otherwise revise any FLS whether as a result of new information, future events or other such factors which affect this information, except as required by law.
On Behalf of Solstice Gold Corp. Pablo McDonald, Chief Executive Officer For further information on Solstice Gold Corp., please visit our website at www.solsticegold.com or contact: Phone: (604) 283-7234 info@solsticegold.com
