Brakpan Closes Acquisition Of Blackbird Creek Project
March 3, 2017, Vancouver, British Columbia, Canada: Brakpan Ventures Corp. (the “Company” or “Brakpan”) is pleased to announce that further to its news releases dated February 24, 2017 and February 27, 2017, the Company has received Canadian Securities Exchange (the “Exchange”) approval of an agreement to acquire a 100% interest in the Blackbird Creek Project located in the Idaho Mineral Belt in Lehmi County, Idaho, USA (the “Property”). The claims (the “Lode Claims”) are located approximately 70 kilometers Southwest from Salmon, Idaho. The 71 Lode Claims encompass approximately 1400 acres.
The Idaho Mineral Belt trends north-westerly through central Idaho, is approximately 48 kilometres long and 8 kilometres wide and is comprised predominantly of metamorphosed sedimentary rocks which are part of the Belt Supergroup.
Under the terms of the Agreement, to earn its 100% interest in the Property, Brakpan must pay to pay the Vendors $150,000 and 10,000,000 shares to the Vendors. The Vendors will also receive a 2.0% Net Smelter Return (the “NSR”). The Purchaser may at any time acquire 1.0% of the NSR from Vendors in accordance with the NSR acquisition terms in the Agreement).
A Finder’s Fee has been paid in connection with this acquisition for 400,000 common shares of the Company. The securities issued are subject to a four (4) month hold period that expires on July 4, 2017.
On behalf of:
BRAKPAN VENTURES CORP.
Eugene Beukman, President
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.