Miata Metals Corp. Expanding into Suriname
Vancouver, British Columbia–(Newsfile Corp. – June 5, 2024) – Miata Metals Corp. (CSE: MMET) (“Miata” or the “Company”) is excited to announce its proposed entry into Suriname, a region within the Guiana Shield, through a non-binding letter of intent (“LOI“) with 79North Inc. (“79North“) for the acquisition of all 79North’s shares.
Suriname’s Potential in Gold Mining
Suriname, situated in the Guiana Shield, boasts a robust gold endowment with greenstone belts. Despite being relatively under-explored compared to other regions, Suriname hosts active gold mines and projects.
Details of the Acquisition
79North holds the Sela Creek and Nassau gold projects, covering over 40,000 ha. in the Marowijne Greenstone Belt.
Benefits and Potential of the Acquisition
- Miata will issue 9,000,000 common shares to 79North shareholders for the Acquisition.
- Positions Miata as a multi-asset explorer in Suriname, with high-potential projects in the Marowijne Greenstone Belt.
- Both projects exhibit promising historical samples and drilling results.
- Positive mineral exploration environment in Suriname with favourable permitting and access.
- Miata to pursue a Private Placement to raise up to $1,500,000 for financing.
Dr. Jacob Verbaas, Miata’s CEO, expressed confidence in the exploration opportunities presented by the assets in Suriname. By leveraging historical data and local relationships, Miata aims to unlock significant shareholder value.
Exploration Details for Sela Creek
The Sela Creek project in Suriname has seen extensive artisanal mining and exploration activities, with promising historical results.
Exploration Details for Nassau
The Nassau property, within the gold-rich Marowijne Greenstone Belt, shows significant exploration potential and proximity to established gold mines.
Private Placement and Funding
A Private Placement of up to $1,500,000 will support the Acquisition, exploration programs, and working capital needs.
QAQC and Data Verification
Historical exploration data referenced in the news release has been sourced from previous technical reports for 79North’s projects.
Qualified Person Statement
Thomas Hawkins, P.Geo., reviewed the technical information in the release as a qualified person under NI 43-101.
About Miata Metals Corp.
Miata Metals Corp. is a mineral exploration company focused on acquiring, exploring, and developing mineral properties, with current operations in Suriname and British Columbia.
About 79North Inc.
79North Inc. is a mineral exploration company committed to discovering and developing properties for gold and mineral mining.
Forward-Looking Statements
The release contains forward-looking statements regarding the Acquisition, Private Placement, and exploration plans. The Company strongly believes in its strategies but acknowledges associated risks.
Legal Disclaimer
The news release does not constitute an offer to buy or sell securities in the United States, and Miata’s securities will not be registered under the U.S. Securities Act.
