Muzhu Mining arranges $402,050 private placement

Dec 2, 2021

2021-12-02 00:37 ET – News Release

Mr. Donald Baxter reports

MUZHU MINING ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Muzhu Mining Ltd. has arranged a non-brokered private placement of up to 2,365,000 common shares designated as flow-through shares at a price of 17 cents per share for $402,050. The Issuer may pay finder’s fees, which may be paid to eligible finders in accordance with the CSE policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders’ fees are both subject to approval by the CSE.

Muzhu owns 100% of the Sleeping Giant South Project (15,000 acres) located in Quebec’s Abitibi Greenstone Belt contiguous to the South of the Sleeping Giant Mine held by Abcourt Mines. The Sleeping Giant Mine has historical production of 1.1 Million ounces of Gold at a historical grade of 10.28 g/t Au and current M&I reserves of 175,757 oz at 11.2 g/t Au. (Geant Dormant Mines Abcourt Inc., NI 43-101, 2019). Abcourt Mines is currently in the process of re-opening the Mine approximately 75km South of Matagami, Quebec just off Hwy. #109.

Muzhu has excellent access to the Sleeping Giant South Project from Hwy. #109 to the East and West part of the property, along with old logging roads and ATV trails. Muzhu is expected to commence groundwork shortly to follow up on the Airborne Geophysics that was successfully completed over the property. The MAG airborne survey was done at low altitude using tight line spacing, with a total of 1,620 km and has helped define numerous geophysical targets on the property for follow up.

QUALIFIED PERSON (QP)

Donald K.D. Baxter, P.Eng., CEO of Muzhu Mining Ltd., is a Qualified Person as defined by National Instrument 43-101 (“N.I. 43-101”) guidelines and has reviewed and approved the content of this news release.

The QP has not completed sufficient work to verify the historic information on the Property, particularly in regard to historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Muzhu property, but may not be representative of expected results.

Muzhu Mining Ltd. is a Canadian junior exploration company currently operating in Quebec. Muzhu current hold 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec of which Hwy. #109 runs through.

We seek Safe Harbor.

https://muzhumining.ca/