Cache Exploration Signs LOI to Acquire Precious Metals Project in BC

Cache Exploration Signs Letter of Intent to Acquire Precious Metals Project in Golden Triangle, British Columbia

View this email in your browser Cache Exploration Signs Letter of Intent to Acquire Precious Metals Project in Golden Triangle, British Columbia March 16, 2021 – Vancouver, Canada – Cache Exploration Inc. (the "Company" or "Cache") (TSXV: CAY) is pleased to announce that the Company has signed a letter of intent ("LOI") to acquire a 100% option on the Marmot Precious Metals Project ("Marmot" the "Property" or the "Project") located in the Golden Triangle British Columbia, Canada and held by Granby Gold Corp ("Granby"), an arms-length private company. The Company has made a non-refundable CDN$10,000 payment to Granby on signing of the LOI. The terms of the LOI are as follows: Granby will retain a 2% royalty with the Company retaining the right to acquire 50% of the Royalty (equal to a 1% net smelter return royalty) for a cash payment of $1,000,000. Any transaction with Granby is subject to the signing of a definitive agreement and any required regulatory and third-party approvals. Marmot Overview The 4049 hectare Project is located roughly six kilometres from the town of Stewart, British Columbia in the southeast part of a mineral-rich belt of Stikine terrane rocks that lies along the eastern flank of the Coast Mountains. The belt lies between the Iskut and Kitsault-Anyox areas and is centred on the town of Stewart, British Columbia. Both the Unuk River and Salmon River Members of the Lower to MiddIe Jurassic Hazelton Group are present on the Property. Voluminous resistant volcanic and associated volcaniclastic strata predominate in the area. The youngest volcanic members are bimodal, consisting mainly of basalt and rhyolite. Middle to Upper Jurassic Bowser Lake Group clastic rocks that conformably overlie the Hazelton Group may also be present. The Eskay Creek mine of Skeena Resources Ltd. (formerly of Barrick Gold Corporation) is an extremely rich and profitable Au-Ag deposit near the northern end of the belt. The Eskay Creek deposit is interpreted to have formed in an environment transitional between subaqueous hot springs and exhalative volcanogenic massive sulfide (VMS), and the geologic setting for the deposits similar to that of the Property. 'Transitional' Eskay Creek-type deposits are models for exploration on the Property. The regional metallogenic picture of the Iskut-Anyox belt suggests that potential also exists on the Property for the occurrence of other mineralization types. These include more typical VMS mineralization, possible 'transitional-type' mineralization variously interpreted as veins or exhalative, both Ag-rich, precious and base metal veins, porphyry-related and shear-hosted mineralization. Four mineral showings, four prospects, and one past-producer are located within the survey area (MinFile records). Known Mineral Occurrences Within the Granby Gold Claims (Minfile, 2019) A helicopter-borne magnetics and radiometrics survey was flown over the mineral tenements during September 2018 by Granby. The objective was the interpretation of the airborne geophysical data to identify targets with response indicative of VMS style mineralization. The geophysical signature of the known occurrences was used as an analogue for identification of new targets. The geophysical survey covered an area of approximately 30.6km2 on flight lines oriented at 040° azimuth at 100m intervals, and orthogonal control lines at 1000m intervals, for a total of 337 line-kilometres. Two magnetic targets are of particular interest, as they are within the prospective Hazelton Group mixed volcanics and sedimentary sequence, and display a strong, isolated magnetic signature. What distinguishes these two targets is the relatively low Koenigsberger ratio indicative of low magnetic remanence, which suggests a different age of emplacement or subsequent alteration. One pair of spatially related potassium and magnetic anomalies fits the classical VMS geophysical exploration model (M-02 and K-05) and is specifically recommended for further work. Other isolated and discordant potassium anomalies are generally recommended for ground truthing. Readers are cautioned that the completion of any transaction is subject to a number of conditions, including, but not limited to, negotiation of a definitive agreement in respect of such a transaction, the availability of financing on terms acceptable to the Company, and the receipt of any required regulatory and shareholder approvals. A transaction cannot be completed until these conditions are satisfied, and there can be no assurance that such a transaction, will be completed at all. Qualified Person Mr. Locke Goldsmith, P. Geo is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Goldsmith has reviewed and approved the scientific and technical content of this news release pertaining to the Marmot Project. Stock Options Cache has granted incentive stock options to consultants of the company to purchase up to 3 million common shares in the capital of the company pursuant to the company's stock option plan. The options are exercisable on or before March 16, 2022, at an exercise price of 18 cents per share. The grant of options is subject to regulatory approval. About Cache Exploration Cache is a gold focused Company that holds and operates the Kiyuk Lake Property which covers 590km2 in SW Nunavut: the project features a number of gold bearing prospects including 2017 identification of 8m of 26.4 g/t gold at the Rusty Zone and extensive mineralization at East Gold Point with 64 m at 1.5 g/t gold and 10 m at 6.5 g/t gold. Extensive surficial float evidence indicates a series of high-interest gold systems (see www.cacheexploration.com/CAY-NR-10-26-17 to view plan maps of Rusty Zone and East Gold Point, section showing select KI17-004 and -005 drill results and Maps of rock and till sampling results. Drilling has discovered multiple gold intercepts over 1 g/t Au in five discrete mineralized zones Rusty, Gold Point, East Gold Point, Cobalt and Amundsen. Significant expansion possible with five new target areas identified and ready for drilling. Exploration at Kiyuk Lake takes place in winter-spring (February – May) and summer-fall (June-October).   On behalf of the Board of Directors of CACHE EXPLORATION INC. Jack Bal President and Chief Executive Officer 604-306-5285 jackbalyvr@gmail.com 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. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the status of the Annual Filings and the Interim Filings, the anticipated completion of these filings, and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations. Copyright © 2021 Cache Exploration Inc., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Cache Exploration Inc. 213-333 Terminal Avenue Vancouver, BC V6A 4C1 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

African Gold Group Reports Test Results from Metallurgical Testing on Sulphides

View this email in your browser AFRICAN GOLD GROUP REPORTS FREE MILLING SULPHIDES, 96% GOLD RECOVERIES THROUGH GRAVITY + CIL PROCESS FROM INITIAL SULPHIDE METALLURGICAL TEST PROGRAMME   March 16, 2021 Toronto, Ontario – African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to announce positive test results from metallurgical testing on sulphide material from its flagship Kobada Gold Project in southern Mali. Highlights from the metallurgical testing include: High average gold recoveries of 96.1% Sulphide ore is free-milling (non-refractory) The current processing plant design (gravity + CIL) is well sized to treat additional sulphide ore Danny Callow, CEO, African Gold Group states:   "From our ongoing drilling programme results, we are confident that we have a sizeable sulphide resource sitting below the oxides at our Kobada Gold Project. Based upon the geological interpretation to date, this could be far larger than the current oxide resource. Whilst we believe we have significant upside in the oxides along strike, it made sense to test the ability to treat the sulphides, especially those that fall within the current open-pit shell and are classified as a resource.  We could not be happier with the initial results from the comprehensive testwork programme, which shows that not only is the gold free milling, but that it displays optimal recovery through the existing gravity + CIL circuit already designed for the Kobada Gold Project oxides.   We are confident that some of our existing 345,000oz of sulphides as per our latest resource statement will fall within our open-pittable reserves and therefore be added to the overall reserve number as we seek to update the technical report from our additional oxide drilling results and sulphide testwork."   Comprehensive metallurgical testing programme was conducted by Maelgwyn South Africa (MSA) on composite samples from all defined mineral zones (north, south, and central domains) of the main shear zone.    The sulphide ore testwork programme involved the following: Head grade assays (Multi Au x 3; Sg; As, Hg, S-package; Full ICP scan) Diagnostic leach Comminution testwork - to be performed after a review of the gold recovery results. Gravity recovery followed by intensive cyanidation on the gravity concentrate. Cyanidation on the gravity middlings and tailings which involved leach rate tests to determine the effect of time on gold dissolution. Intensive cyanidation on gravity concentrate   The ILR tests indicate that a gold dissolution of 96.37% over 6 hours is achieved and this is consistent with what was obtained for saprolite and laterite. The current gravity recovery equipment selection is adequately sized to recover gravity gold from the sulphides.   Figure 1: Intensive cyanidation results Leach results on middlings and tailings Figure 2: Leach test rate The following is noted regarding the results: Rate of gold dissolution is high and the rate curve "plateaued" after 8 hours. An optimum residence time of 24 hours can be selected. Current leach design residence time of 24 hours will be more than adequate when treating sulphides. Lime requirements are low at 0.24kg/t- this is line with expectations as sulphides generally contain carbonates which will result in low lime demand. Cyanide optimization tests will be conducted to determine cyanide consumptions for design and operating cost estimates. Ongoing comprehensive testwork will include additional comminution testing to determine optimal grind size, leach optimisation and further variability testing.   TSXV Final Approval   The Company is also pleased to announce that it has receive final approval from the TSX Venture Exchange with respect to the closing of the $4.6 million private placement of units of the Company (the "Offering") (see press release dated February 24, 2021). As a matter of clarification, all warrants comprising the units of the Company issued under the Offering expire on February 24, 2023. Additionally, in connection with the closing of the Offering, the Company has paid aggregate finder's fees of $115,757.50 in cash and 776,832 finder's warrants ("Finder's Warrants") to certain finders.   About African Gold Group   African Gold Group is a TSX Venture Exchange (TSX-V: AGG) listed exploration and development company with a focus on building Africa's next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. AGG's principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the 2020 definitive feasibility study and is targeting gold production of 100,000 oz per annum. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering potential for an increase in resource. For more information regarding African Gold Group visit our website at www.africangoldgroup.com. Qualified Person The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. For further information please contact:   Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.com   Scott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.com   Daniyal Baizak  VP Corporate Development (647) 835-9617 Daniyal.Baizak@africangoldgroup.com   Camarco (Financial PR) Gordon Poole Nick Hennis +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.uk   Forward-Looking Statements This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the intended use of proceeds, closing conditions and timing and other matters relating to the Offering, the Company's development and exploration plans for the Kobada project and other statements with respect to the future plans or intentions of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "aims", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.   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.     Follow on Twitter LinkedIn Follow on Instagram Our mailing address is: info@africangoldgroup.com Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.