VANCOUVER, British Columbia, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG ) is pleased to announce that it has commenced exploration field work over its Otways Gold Project in the Pilbara, Western Australia.
A photo accompanying this announcement is available at http://www.rugbymining.com/otways-project .
The Otways Project (“Otways”) is located within the Pilbara Region which is well known for its gold potential and of reported “Witwatersrand-style” gold bearing conglomerate deposits recently announced by Novo Resources (TSX-V: NVO ), De Grey Mining (ASX:DEG) and Haoma Mining NL (ASX:HAO).
Rugby’s CEO, Paul Joyce stated, “Otways is situated near a number of Novo Resources properties* between Marble Bar and Nullagine, in an area actively prospected for gold nuggets (Figure1). Rugby’s granted tenements have both gold workings and gold anomalies which we will investigate. We expect to complete preliminary prospecting in the coming weeks.”
Otways comprises two contiguous exploration licences covering 134 square kilometres. Rugby owns 100% interest in Otways, subject to a 2% NSR to the vendors.
Paul Joyce, Rugby’s President and CEO and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release.
* Novo Resources Corp’s tenement information was available from www.novoresources.com
About Rugby Rugby is an emerging mineral resource company focused on a portfolio of projects having considerable potential for significant mineral discoveries. Rugby benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries.
For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com
| Paul Joyce, President and CEO Tel: 604.688.4941 Fax: 604.688.9532 Toll-free: 1.855.688.4941 | Suite 1660, 999 West Hastings St. Vancouver, BC Canada V6C 2W2 info@rugbymining.com |
CAUTIONARY STATEMENT Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the British Columbia, Alberta and Ontario Securities Acts. This includes statements concerning the Company’s plans at its projects including the expected approval of permits required for exploration, timing of drilling programs, prospectivity, high grade potential and potential for mineral discoveries, the style or occurrence of the mineralization such as “Witwatersrand-style”, and drilling costs which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the effect on prices of major mineral commodities such as copper and gold by factors beyond the control of the Company; events which cannot be accurately predicted such as political and economic instability, terrorism, environmental factors and changes in government regulations and taxes; the shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration services; the Company’s dependency on equity market financings to fund its exploration programs and maintain its mineral exploration properties in good standing; political risk that a government will change, interpret or enforce mineral tenure, environmental regulations, taxes or mineral royalties in a manner that could have an adverse effect on the Company’s assets or financial condition and impair its ability to advance its mineral exploration projects or raise further funds for exploration; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the interpretation of laws regarding ownership or exploration of mineral properties in the Philippines and Colombia and in the sometimes ambiguous conveyancing characteristic of many resource properties, currency risks associated with foreign operations, the timing of obtaining permits to conduct exploration activities, the ability to conclude agreements with local communities and other risks and uncertainties, including those described in each of the Company’s management discussion and analysis and those contained in its financial statements for the year ended February 28, 2017 filed with the Canadian Securities Administrators and available at www.sedar.com . In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
