Golden Opportunity Resources Signs Option to Purchase Agreement for Detour Lake Property

Not for Distribution to United States Newswire Services or for Dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / February 5, 2020 / Golden Opportunity Resources Corp. (the “Company” or “Golden Opportunity”) (CSE:GOOP) is pleased to announce that it has signed an Option to Purchase Agreement with Northbound Capital Corp. and 1544230 Ontario Inc. for certain mineral property claims in the Detour Lake District, Ontario, Canada.

Key Take Aways:

  • Located in the Detour Greenstone Belt, host to the Detour Gold Mine Complex, the Fenlon Gold Project recently discovered by Wallbridge Mining, the Balmoral Resources Ni-Cu Discovery, the past and current producing Casa Berardi Mine and the past producing Selbaie VMS Mine
  • Only Detour Gold and Aurelius Minerals have any significant land holdings in the area and the Northbound Capital claim block is contiguous to both
  • Claim block hosted within a postulated gabbroic intrusive which makes an excellent host for gold mineralization
  • Proximal to the Zone 58N Gold Deposit and the Lipton Gold Zone

Golden Opportunity cautions investors mineralization on the above mentioned properties is not necessarily indicative of similar mineralization on the Northbound claim block.

Zone 58N Source: Detour Gold Corporation News Release dated 2018-Jul-25; Detour Gold Mine Complex Source Kirkland Lake Gold Ltd. CIBC Western Institutional Investor Conference Presentation January 29-31, 2020; Lipton Source: Mineral Deposit Inventory for Ontario MDI000000000800 Lipton Lake

Keith Anderson, chief executive officer, commented: “We are very excited to be entering into this option agreement with Northbound Capital. Not only are we optioning a property in the Abitibi Greenstone Belt precious metals, we’re surrounded by significant discoveries.” He added “We are planning to implement an aggressive exploration program in the coming months. With the price of gold and other precious metals heading higher, our timing couldn’t be any better.”

About the transaction

The Company has agreed to pay $20,000 and issue 1,500,000 shares on signing and has further agreed to issue 1,500,000 shares, pay $75,000 cash and incur an aggregate of $650,000 in Exploration Expenditures over the next three years to earn a 100% interest in the Property. The Company has the option to purchase a 2% NSR for $1,000,000

About Golden Opportunity Resources Corp.

Golden Opportunity is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC) a Qualified Person under NI43-101 and a Director of Golden Opportunity.

On Behalf of the Board of Directors

Keith Anderson
Chief Executive Officer, Director

For further information, please contact:

Keith Anderson
Chief Executive Officer, Director
(604) 786-7774

Forward-Looking Statements:

This news release includes certain 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 future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company’s projects and mineral properties, 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. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company’s option to acquire the Maple Bay Project, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated August 30, 2019 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.

SOURCE: Golden Opportunity Resources Corp.

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