September 27, 2021 (Vancouver, BC): LaSalle Exploration Corp. (“LaSalle” or the “Company”) (TSX-V: LSX) announces that it has expanded and consolidated the Egan Property (“Egan” or the “Property”) through two separate transactions involving purchase agreements increasing the total land area to 11,720 hectares (28,128 acres) and 454 claims.
LaSalle completed a purchase agreement with two individuals (the “Vendors”) to obtain a 100% interest in a block of 30 claims covering 642 hectares in the northeast area of the property in exchange for a cash payment of $15,000 and the issuance of 100,000 common shares of the Company. The Vendors have also been granted a 2% Net Smelter Returns (“NSR”) royalty, half of which may be purchased at any time by the Company for $1 million (CDN). The shares are subject to a 4-month hold period and the transaction is subject to TSX Venture Exchange acceptance.
The second transaction was on a block of 6 claims in the south-central portion of the Property and was acquired by granting a 2% NSR royalty to the owners, half of which may be purchased by the Company at any time for $1 million (CDN).
Commented Ian Campbell, President and CEO of LaSalle, “We are really pleased with our land consolidation which enhances our ability to conduct an aggressive and first ever systematic exploration program on Egan and sets the stage for the Fall exploration program which is set to begin. The ground acquired to the northeast is along trend from the E1 discovery and the ground to the south is along favourable geological trend and structure to the east of the E3 gold zone.”
The Company is also pleased to announce that, subject to regulatory approval, it has engaged the services of Independent Trading Group (“ITG”) to provide market-making services in accordance with TSX Venture Exchange (“TSX-V”) policies. ITG will trade shares of the Company on the TSX-V and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company’s common shares.
Under the agreement, ITG will receive compensation of $5000 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days’ notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.
About Independent Trading Group
ITG is Canada’s only brokerage firm dedicated specifically to professional trading. As Canada’s foremost Market Making Firm, ITG provides Market Making and Liquidity Provider services that are objective and focused. With its head office in Toronto, ITG employs professional traders and provides real liquidity, with an underlying emphasis on integrity and success.
About the Egan Property
LaSalle optioned the Egan property in August 2020 based on the 2017 discovery of the E1 Zone when logging activities exposed a northeast trending shear zone with a well developed stockwork of quartz veins hosted in syenite. Sampling by the vendors of seventy-eight grab samples returned gold assay values ranging from 0.1 to 105.0 g/t gold with 15% of the samples returning over 10 g/t, including 105.0 g/t, 67.2 g/t and 47.6 g/t gold. Assays of nine grab samples by LaSalle ranged from 0.09 g/t to 63.70 g/t gold, including individual select grab samples yielding 63.70 g/t, 22.70 g/t and 4.70 g/t gold, while two composite chip samples returned 7.67 g/t gold over 3.0 metres and 2.80 g/t gold over 4.0 metres.
The E2 Zone, exposed in trenches dating from the 1920’s, is located 3 km southeast of the E1 Zone and consists of a series of easterly trending, laminated quartz veins hosted by mafic metavolcanics near the contact with the Bradley Lake Syenite. The vendors collected forty-three grab samples returning anomalous gold assay values ranging from 0.1 to 19.30 g/t gold; 7% of the samples returning over 10 g/t, including 19.3, 16.6 and 15.3 g/t gold. LaSalle has confirmed the easterly trending E2 shear zone and also outlined areas of northerly trending quartz-ankerite veins with anomalous gold values ranging from 0.1 to 4.51 g/t gold.
Cautionary statement: Grab samples described above are selective by nature and reported grades might not be representative of more extensive mineralized zones.
The technical information in this news release was reviewed and approved by Alan Sexton, P.Geo., Vice-President, Exploration of LaSalle Exploration Corp., who is a non-independent qualified person for the technical disclosure as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
About LaSalle Exploration Corp.
LaSalle is a Canadian exploration company focused on less explored districts of the Abitibi in Ontario and Quebec, recognized for mining investment based on mineral potential, policy and success., LaSalle is actively exploring Radisson in the developing Eeyou Itschee-James Bay region in Québec as well as the Blakelock and Egan high-grade gold properties located in northeastern Ontario. LaSalle trades on the TSX Venture Exchange (“TSX-V”) under the symbol “LSX”. Additional information about LaSalle can be found on SEDAR at www.sedar.com and on the Company’s website at www.lasallecorp.com.
On behalf of the Board of Directors
LASALLE EXPLORATION CORP.
President and Chief Executive Officer
Telephone: (604) 647-3966
Cautionary Note Regarding Forward-Looking Statements and Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the 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.