Alianza Minerals to acquire KRL property

Sep 11, 2018

2018-09-10 16:21 ET – News Release

Mr. Jason Weber reports

ALIANZA MINERALS ACQUIRES HIGH-GRADE GOLD TARGET, GOLDEN TRIANGLE AREA, B.C.

Alianza Minerals Ltd. has optioned the KRL property in British Columbia’s prolific Golden Triangle from prospector Bernie Kreft. The KRL property is located near the junction of McLymont Creek and the Iskut River, adjacent to Aben Resources’ Forrest Kerr gold project and approximately five kilometres from the McLymont Creek and Forrest Kerr power generation plants. Road access exists less than two kilometres from the property boundary.

Previous work at KRL dates back to the late 1980s and includes hand trenching of quartz veins 10 to 100 centimetres (cm) in width (generally 10 to 50 cm wide) and exposed for as much as 60 metres on strike before becoming obscured under talus. Results of this work include a series of five channel samples, collected on one-metre spacings yielding 56.01, 35.93, 122.86, 194.23 and 64.04 grams per tonne gold over 50 to 70 cm. Another vein, sampled approximately 10 m to the northwest, returned 248.1 g/t gold over its 10 cm width, and another at 229.47 g/t from a nearby 10 cm channel sample. At least 11 veins have been identified over a 400 m by 600 m area. Most veins are steeply dipping with a northwesterly strike.

“The KRL option presents an excellent opportunity for early-stage gold exploration in the Golden Triangle,” stated Jason Weber, PGeo, president and chief executive officer of Alianza. “Previous workers identified this high-grade mineralization near their property boundary in the late 1980s. We feel that with our better-located land position there is potential to identify additional mineralization below tree line where it may be obscured by vegetation and talus. Our initial phases of work will focus on prospecting and geochemical sampling to identify potentially covered gold-bearing veins at lower elevations.”

Agreement terms

Alianza is optioning the KRL property from prospector Mr. Kreft. Alianza can earn a 100-per-cent interest in the property by conducting $2.25-million in exploration on the property over five years ($150,000 by Dec. 31, 2019), issuing 800,000 shares of Alianza to Mr. Kreft, staged over five years (100,000 on TSX Venture Exchange approval) and by making staged cash payments totalling $250,000 over four years ($25,000 by Oct. 15, 2018). Mr. Kreft is entitled to additional shares issued upon the disclosure of a National Instrument 43-101 inferred resource estimate equal to one share per ounce of inferred resource, to a maximum of 350,000 shares. An additional 500,000 shares are to be issued on the commencement of commercial production. Mr. Kreft will retain a 1-per-cent net smelter royalty on the property.

About Alianza Minerals Ltd.

Alianza increases the chances of success in mineral exploration by using the prospect generator business model, focusing on gold and copper exploration in Latin America and Nevada.

Jason Weber, PGeo, of Alianza Minerals is a qualified person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.

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