PIVIT ACQUIRES LAND PACKAGE CONTIGUOUS TO SOKOMAN’S MOOSEHEAD GOLD PROJECT, NEWFOUNDLAND, CANADA
Vancouver, British Columbia, July 26, 2018 - Pivit Exploration Inc. (CSE: PIVT) (the "Company" or "Pivit") is pleased to announce that the Company has acquired the Moosehead South Gold claims that are contiguous to the south end of the Sokoman Iron Corp. (TSX: SIC.V) Moosehead Gold Project in Newfoundland. Sokoman recently reported a drill intersection of 44.96 grams per tonne (g/t) gold over 11.9 metres (see Sokoman press release dated July 24th, 2018).
Pivit President Mike England states, "We are pleased to have been able to secure this set of claims adjoining Sokoman, approximately 2.1 km from their recent discovery hole. Management made the decision to acquire these claims due to their close proximity to this exciting new discovery and to ensure our shareholders have exposure to this potentially hot new area of interest."
The newly acquired property is 2.5 km long by 1.5 km wide and traverses the TransCanada Highway and Bay d'Espoir Highway (Route 360). Mineralization in the Moosehead area appears to be associated with east-west trending quartz veins associated with a north dipping fault system.
Under the terms of the Agreement, Pivit has agreed to purchase a 100% interest in the Moosehead South claims by paying $25,000 and issuing 500,000 shares on approval of the agreement by the TSX Venture Exchange (the "Exchange").
The technical contents of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 Technical Report.
Pivit is engaged in the business of mineral exploration and the acquisition of mineral properties for the benefit of its stakeholders.
On Behalf of the Board of Directors
Chief Executive Officer, President and Director
For further information, please contact:
Chief Executive Officer, President and Director
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. 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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Lennac Lake Property, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated April 24, 2018 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.Back to Past News