VANCOUVER, BC – (December 12, 2019) – Kenadyr Mining (Holdings) Corp. (TSX-V: KEN) (the “Corporation” or “Kenadyr”) is pleased to announce that it has exercised its option with Realgold Resources Corp. ( “Realgold”) for the acquisition of 9 mineral exploration licenses (the “Licenses”) covering approximately 1,200 square kilometers of the most prospective gold ground within the Middle Tien Shan carbonaceous shale belt of the Kyrgyz Republic. The licenses cover most of the highly prospective rocks (Riphean carbonaceous shales) and occur within a strike length of 800 km from west to east. These licenses contain approximately 80% of the exposed Upper Proterozoic black shales found in Kyrgyz Republic, that are not within a protected area (i.e. National Park).
Kenadyr is in possession of a complete data set, compiled during the Soviet era, for all license areas. This dataset includes all data from thorough regional, with follow up local, exploration programs. The dataset includes all geological and geochemical maps, maps of soil sediment geochemistry, stream sediment and pan concentrate geochemistry, airborne and ground geophysical surveys, compiled geologic reports and maps of all rock chip and channel sample locations and results as well as all known mineral occurrences.
Stock Option Grant
Kenadyr announces the granting of stock options by the Company of 500,000 incentive stock options with an exercise price of $0.10 per share for a period of 5 years and subject to 20% vesting on the date of grant, and 20% vesting each 6 months thereafter over a 5 year period from the date of the original grant.
Kenadyr Summary and Strategy Statement
Kenadyr Mining is focused on creating shareholder value, both through project acquisition and exploration towards resource definition, within the Kyrgyz Republic. Kenadyr achieves a balance of risk with a blended portfolio.
The company owns the Borubai Project which hosts both the South Zone and East Zone. Complementing this, the company holds an unrivaled ground position covering the bulk of the prospective Black Shale Hosted Gold ground in the Kyrgyz Republic.
Doug Kirwin, a director of the Kenadyr and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.
On behalf of the Kenadyr Mining (Holdings) Corp.
Dr. Alexander Becker
Chief Executive Officer and Director
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the success for failure of the Company’s proposed exploration activities on the Bourabi Project or its resource potential relative to the TBL Mine and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.