VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG) (“Trans Canada” or the “Company”), is pleased to announce that an officer/director of the Company is selling an aggregate of 2,000,000 common shares of the Company from their personal holdings, for aggregate proceeds of approximately $300,000, with such sale to on or about June 7, 2021.
The officer/director of the Company is expected to use the proceeds generated from the sale of these shares to subscribe for an aggregate of 2,000,000 newly issued treasury securities of the Company under its previously announced private placement offering of Units (See April 21, 2021 news release). Such subscription is expected to occur on or prior to May 15, 2021 in the final closing of the offering.
Gross proceeds from the financing will be used by the Company for exploration work planned to take place during the 2021-2022 field season, on its 14,800-hectare Trans Canada Gold Project (“Dinorwic Gold Property”) situated near the Dryden gold district in Northwest, Ontario Canada and the Gold Crow High Grade Gold project situated near Pickle lake, Ontario. The Company intends to use the balance of proceeds of the Offering for any new costs associated with the acquisition and exploration of the Company’s new gold exploration assets, legal, accounting costs and general working capital.
TRANS CANADA GOLD PROJECT– THE DINORWIC GOLD PROPERTY
The Trans-Canada Gold Property consists of 741 non-surveyed contiguous mineral cell claims totaling 14,880 hectares located within the Kenora Mining Division of Ontario. The property is located within the Wabigoon Greenstone Belt, which also contains the Goliath Gold deposit and the Goldlund Gold Deposit. The Property contains a number of large shear zones containing quartz carbonate veins, pyrite and arsenopyrite, underlain by mafic volcanics with felsic volcanics in the south. There is a large regional scale iron carbonate alteration within the property, which is considered to be similar to that of the Red Lake Mining Camp. The regional scale Carbonate alteration within the property associated with shear zones within iron-tholeiite are prime targets for gold exploration. The property has excellent access, with the Trans-Canada highway bisecting multiple high priority targets in a north-south direction, as well as close proximity to the large community of Dryden, Ontario. The property has access to first class infrastructure, with close proximity to a number of rail corridors and power lines. A number of gold exploration targets have been identified within the property based on their association with regional alteration, known gold showings, shear zones, complex patterns and offsets in the regional magnetic map as well as spatial association with regional structures that has the potential to be well endowed with gold mineralization.
Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved of the technical information disclosed in the news release.
ABOUT TRANS CANADA GOLD CORP. – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a Canadian Gold and Mineral Exploration and Oil & Gas Resource Development Company that is currently focused on developing its’ District Scale Gold exploration project in Ontario, increasing its production capabilities, and obtaining potential future oil production revenues. The Company identifies, acquires and finances the acquisition of gold exploration properties and the ongoing development of mining and oil and gas assets primarily situated in Canada, a time-honored safe mineral exploration jurisdiction. The Company is currently reviewing a number of District Scale gold mineral exploration property opportunities, and identifying low risk exploration opportunities through selective acquisitions and development of mining exploration assets situated in these favorable resource jurisdictions. The Company has qualified Senior exploration management and Geological Mining teams of professionals, seasoned in exploration production, field exploration and drilling. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration and development of mining, and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
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