Straightup Announces Engagement of Consulting Geologists
Commencement of Hi-Mars Property Exploration Program
Vancouver, British Columbia, July 15, 2020: Straightup Resources Inc. (the "Company" or "Straightup") (CSE: ST) is pleased to announce that it has engaged the services of Mr. Michael Dehn, P.Geo and Mr. Tim Twomey, P.Geo, as consulting geologists for the Company.
"We are very excited to welcome individuals of Michael and Tim's calibre to our technical team," stated Matthew Coltura, CEO and President, "their experience and strong track record in the Red Lake District will be a great asset to the Company as we look to begin exploration on the RLX North, RLX South and Belanger properties."
Michael Dehn, P.Geo
Mr. Michael Dehn, P.Geo, has over 25 years of experience in the mining industry. During his 11 year tenure with Goldcorp Inc. ("Goldcorp"), Mr. Dehn played a vital role in Goldcorp's regional exploration programs within the Red Lake District, as well as with the Goldcorp Challenge – where all of Goldcorp's Red Lake Mine data was shared with the public and outside experts had the opportunity to win prizes totalling CAD $575,000 if they were able to help locate the next six million ounces of gold in the Red Lake Mine.
As a geologist, Michael is considered by many to be one of the authorities on the idiosyncrasies of the Red Lake District. In previous roles with other mining and exploration companies, Mr. Dehn has been instrumental in positioning the companies for both strategic and operational successes. He has proven himself a trusted industry adviser – introducing unique investor groups, often outside the mining arena, to new opportunities in the mining and exploration space.
Tim Twomey, P.Geo
Mr. Tim Twomey, P.Geo, brings over 36 years of experience to the technical team of Straightup. Mr. Twomey played a key role in the discovery of Goldcorp's "High-Grade Zone", and subsequently held the position of Senior Exploration Geologist with Goldcorp's Regional Exploration Team in the Red Lake District. Mr. Twomey also previously worked with Premier Gold Mines Ltd., Yamana Gold Inc. and Mega Precious Metals Inc. to advance their respective Red Lake District exploration projects. As such, Mr. Twomey brings to the Straightup technical team a wealth of knowledge and experience with respect to understanding the geology and controls on gold mineralization in the Red Lake District.
Mr. Twomey is expected to spearhead the Company's field exploration programs on the RLX, North, RLX South and Belanger properties.
Hi-Mars Property Exploration Program
The Company also announces that during the week of July 20, 2020 it expects to commence its exploration program on the Hi-Mars Property (the "Exploration Program"), as recommended by the author of the technical report dated December 11, 2019 entitled "Technical Report Hi-Mars Mineral Property, South West British Columbia, Canada" (the "Technical Report"). Further information on the Exploration Program can be found in the Technical Report and the final long form prospectus of the Company dated January 22, 2020, copies of which are available on the Company's profile on the SEDAR website at www.sedar.com.
About Straightup Resources Inc.
Straightup 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 and to conduct its exploration program on the Hi-Mars Property. The Hi-Mars Property consists of 11 contiguous mineral titles covering an area of 1,788 hectares located approximately 17 kilometres northeast of the City of Powell River in the southwest British Columbia, Canada, within the Vancouver Mining Division.
On Behalf of the Board of Directors
Chief Executive Officer, President and Director
For further information, please contact:
Chief Executive Officer, President and Director
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 the timing of the Exploration Program on the Hi-Mars Property, expected exploration on the RLX North, RLX South and Belanger 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 are based on certain assumptions regarding the Company including, without limitation, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.
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 Hi-Mars, RLX North, RLX South and Belanger properties, the proposed exploration work thereon, the fact that the Company's interest in the Hi-Mars, RLX North, RLX South and Belanger properties is an option only and there is no guarantee that such interest, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of gold, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, accidents, labour disputes and other risks of the mining industry, 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, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, 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 other risks and uncertainties disclosed in the Company's latest Management's Discussion and Analysis 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.