Toronto, Ontario, June 9, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce that it has entered into a data purchase agreement with Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger”), to purchase more than 6,250 line-kilometres of airborne magnetic geophysical data (the “Survey”) that was completed in 2019 over parts of the Muus-Principal, Muus-Extension, Muus-S-Fold, Muus-Tectonic, Muus-East and Nisk properties (“Muus Project”) (refer to Figure 1). A significant percentage of the acquired Survey covers recently acquired strategic claims that were not covered by BLUE’s January 2019 airborne survey. Furthermore, parts of the Survey overlap areas of the Muus Project that were covered by the 2019 survey, but at a tighter flight-line spacing and lower altitude, providing higher-resolution data for geological interpretation and targeting purposes. As consideration for the exploration data, BLUE will issue 3,200,000 common shares at a deemed price of $0.125 per common share to Honey Badger, subject to TSX Venture Exchange approval.
“We are pleased to add the technical data acquired from Honey Badger to the growing list of exploration information in our Muus Project database. The geophysical data will assist the Company greatly in defining exploration targets and outlining areas that require further follow-up during our exploration programs for 2020 and beyond.”
Robert Cinits, President and CEO
The scientific and technical information that forms the basis for parts of this press release was reviewed and approved by John Langton (P.Geo.), who is a Qualified Person “(QP”) as defined by National Instrument 43-101. Mr. Langton has previously visited the Muus property; however, due to COVID-19 travel and Québec-based work restrictions, he has not yet visited the recently acquired Fancamp and Embry properties, and thus cannot validate the historical databases nor the results of the historical work. With the recent reduction of the restrictions, Mr. Langton will complete a site visit at the earliest opportunity.
Blue Thunder Mining Inc. (TSXV:BLUE) is a gold exploration company focused in the Chibougamau Gold District of Québec, where it has consolidated approximately 51,000 hectares of prospective exploration claims in five separate blocks (the Muus Project), making BLUE one of the largest landholders in the District. Much of the exploration ground occurs along major regional structures, including the Guercheville and Fancamp Deformation Zones, both of which are associated with numerous gold and/or base metal deposits and showings in the District.
ON BEHALF OF THE BOARD
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704, P.O. Box 4, Toronto, Ontario, M5H 2Y4
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, anticipated exploration program results, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploitation thereof.
Figure 1: Map depicting coverage of the recently acquired geophysical Survey in relation to Blue Thunder’s properties in the Chibougamau Gold District
(1) Monster Lake NI 43-101 Technical Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp
(2) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources
(3) Historical Resource estimate – Not in compliance with NI 43-101 and should not be relied upon