Constantine, Carlin sell Mac Pass options to Fireweed

Mar 27, 2018

2018-03-27 09:36 ET – News Release

Also News Release (C-CGD) Carlin Gold Corp

Mr. Garfield MacVeigh of Constantine reports

CONSTANTINE AND CARLIN OPTION THREE YUKON PROPERTIES TO FIREWEED ZINC

Constantine Metal Resources Ltd. and Carlin Gold Corp. have signed a letter agreement granting Fireweed Zinc Ltd. the option to purchase a 100-per-cent interest in three properties (MC, MP and Jerry) totalling 624 claims in the Mac Pass area of Yukon. Total consideration for Fireweed to acquire a 100-per-cent interest in the properties includes an aggregate of $500,000 in cash, and issuance of 300,000 common shares in the capital of Fireweed, to be paid over three years. The claims were staked in 2011 under the Constantine Carlin joint venture, and all option payments and royalties will be split 50 per cent payable to Constantine and 50 per cent payable to Carlin.

A figure associated with this news release is available on-line.

The agreement includes net smelter return royalty rights retained by Constantine and Carlin, consisting of a 0.5-per-cent NSR on base metals and silver and a 2.0-per-cent NSR on all other metals. An additional payment of $750,000 is payable upon Fireweed producing an indicated resource of 2.0 million tonnes on the optioned properties.

The CCJV controls an additional 10 properties in the greater Mac Pass area, totalling 1,835 claims and approximately 37,700 hectares that are available for sale or option. These include multiple early-stage gold prospects with high tenor gold-in-soil anomalies. Gold exploration activity has recently picked up in Yukon’s Selwyn basin, with two separate option agreements announced in 2017 by Newmont and Barrick with junior explorers that include over $100-million in combined total earn-in expenditures.

About Constantine Metal Resources Ltd.

Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. In addition to the company’s flagship copper-zinc-silver-gold Palmer VMS project, Constantine also controls a portfolio of high-quality, 100-per-cent-owned gold projects in the Timmins camp, Ontario. This includes the large, well-located Golden Mile property in Timmins and the Munro Croesus gold property that is renowned for its exceptionally high-grade past production. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.

About Carlin Gold Corp.

Carlin Gold’s primary focus is on gold exploration in Nevada, where it controls three 100-per-cent-owned properties. All three properties contain Carlin-style targets and are available for option. The Cortez Summit property consists of 142 unpatented claims centrally located on the Cortez trend, which contains a major gold endowment that exceeds 45 million ounces total gold produced, reserves and resources (Nevada Bureau of Mines and Geology annual mineral reports, Barrick annual reports). The JDS property consists of 77 unpatented claims located approximately 13 miles southeast of Cortez Summit and three miles east of NuLegacy Gold’s Iceberg discovery.

We seek Safe Harbor.

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