Vancouver, BC / TheNewswire / April 26 2017 - Blind Creek Resources Ltd. (TSXV: BCK) (the "Company") is pleased to announce that it has completed the acquisition of 100% interest in the Engineer Mine property and the adjoining Gold Hill property, situated approximately 32 kilometres southwest of Atlin, British Columbia, (see map enclosure attached or go to the Company's website) pursuant to terms of the agreement (the "Agreement") the Company had entered with Pan Andean Minerals Ltd. (formerly, BCGold Corp., "Pan Andean").
The Company has fully paid the purchase price for these properties and satisfied its obligations under the Agreement. The Company has granted to Pan Andean a 1.0% net smelter return royalty ("Pan Andean's Royalty") on the Engineer Mine property, the Gold Hill property, and the Company's Blind Creek property that borders the west and south sides of the Engineer Mine and Gold Hill properties. Guardsmen Resources Inc. retains a 2.5% net smelter return royalty ("Guardsmen's Royalty") on the Gold Hill property. The Company has rights to buy back all of Pan Andean's Royalty under the Agreement and rights to buy back up to 2% of Guardsmen's Royalty.
Consolidation of the mineral claims constituting the Engineer Mine and Gold Hill properties allows the Company to explore and possibly develop the area's underlying resources as a whole in an efficient and cost-effective manner. While the Company will remain focused on developing its key Blende Project in the Mayo Mining District, Yukon, the Company also plans to commence a 2017 work program on the Engineer Mine property, including soil geochemical surveys, trenching, geological mapping, sampling and diamond drilling. The Company has engaged Mr. Darren O'Brien, P.Geo. to update the Engineer Mine property NI 43-101 technical report. The Company has recently enlarged the Engineer Mine property by staking 25 additional mineral claims totalling 8,287 hectares, as a result the Engineer Mine property has significantly increased in size from 3,537 hectares to 11,668 hectares. Overall the Engineer Claim Group is 18 kilometres by 9.5 kilometres in size.
