VANCOUVER, BC – June 11, 2021 – Kenadyr Mining (Holdings) Corp. (TSX-V: KEN; OTC-MKTS: KNDYF; FRA: KM0) (the “Company” or “Kenadyr”) announces it has cancelled its letter of intent for the acquisition of 100% of Kamkor-Saryarka LLP, as announced on April 27, 2021. The parties could not agree to final terms to form a legally binding agreement. Additionally, the Bridge Financing, as announced on May 25, 2021, is also cancelled.
Tim McCutcheon, Kenadyr’s CEO, said: “I am disappointed in this turn of events, but remain optimistic about the potential of our existing Borubai gold exploration asset and emerging resource opportunities in Central Asia.”
Kenadyr is developing its 100%-owned Borubai gold exploration license in the Kyrgyz Republic, as well as evaluating growth opportunities in the gold mining sector. The Borubai license completely surrounds the Taldybulak Levoberezhniy gold mine, with which it shares mineralization trends. Taldybulak Levoberezhniy produced 133,335 oz gold in 2019 and is operated by Zijin Mining.
ON BEHALF OF KENADYR MINING (HOLDINGS) CORP.
Chief Executive Officer and Director
For more information, please contact:
Tim McCutcheon or Kevin Ma
Phone: +1-604-569-2963 Ext 105
Cautionary Statement on Forward-Looking Information
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 press release contains 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 the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, 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. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.