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TSX.V: FKM OTCQB: FKMCF Frankfurt: F7E1
ROUYN-NORANDA, QC, Sept. 3, 2024 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) wishes to make some important clarifications and corrections to the information sent out in a press release on July 4, 2024 about its Galloway project.
Fokus would first like to specify that the only current mineral resource estimate for the Galloway project is that presented in the press release dated March 23 2023 which is supported by a Technical Report (following NI 43-101) entitled "NI 43-101 Technical Report and Mineral Resource Estimate for the Galloway Project, Quebec, Canada" and dated May 7 2023 (available on SEDAR+). The sensitivity analysis and results disclosed July 4 2024 are not mineral resources and were presented for illustrative purposes only.
Furthermore, the emphasis placed on one of the sensitivity assumptions to a gold price of US$2300/oz is potentially misleading and should not be taken into account as it does not comply with the practices established by the ICM.
Fokus would also like to point out that the results presented in the press release of 4 July 2024 should not be taken into account as they represent a breach of the disclosure guidelines, since this information is biased and unbalanced and represents forward-looking information that is not accompanied by all the facts necessary to establish its valid basis.
Qualified Person
The scientific and technical disclosure for Fokus included in this news release have been reviewed and approved by Gilles Laverdière, P. Geo. Mr. Laverdière is a geologist and a qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101") and a director of the Company.
About Fokus
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Quebec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.
The 100% Galloway Project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation, which extends for more than 100km. Numerous gold deposits are associated with the structure and its extensions.
The current work focuses on a western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.