Vizsla Resources Terminates Option of Kathleen Mountain Project
TSX VENTURE: VZLA
Vancouver, British Columbia / TheNewswire / March 15, 2019 - Vizsla Resources Corp (TSX-V: VZLA) ("Vizsla" or the "Company") announces that it has elected to terminate the Kathleen Mountain Option Agreement (the "Agreement"). The project will return to Platinum Belt Resources (the "Optionor") and upon termination of the Agreement, the Company will have no interest in the Kathleen Mountain property and will have no further obligations to the Optionor.
Michael Konnert, Chief Executive Officer, said: "The decision to terminate the Agreement came after careful review of the exploration data from the 2017 and 2018 field seasons. As the results of the exploration did not warrant further development of the Kathleen Mountain property, the Company has determined that the upcoming property payments were not warranted. The Company believes its resources are better spent on the 100%-owned Blueberry project and on evaluating other potential projects with a view to maximize shareholder value."
About Vizsla Resources
Vizsla is a mineral exploration company engaged in the business of the acquisition, exploration and development of mineral resource properties. The Company has approximately 20,000,000 shares outstanding and controls the 100%-owned Blueberry copper-gold asset in British Columbia. Vizsla's common shares trade under the symbol "VZLA" on the TSX-V. The Company website can be found at www.VizslaResources.com
Contact Information: For more information and to sign-up to the mailing list, please contact:
Michael Konnert, President and Chief Executive Officer
Tel: (604) 838-4327
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 news release.
Information set forth in this news release regarding nearby or adjacent properties is not necessarily indicative of the potential mineralization on the Blueberry Property
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements include but are not limited to statements with respect to the activities or events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation the evaluation of other potential projects. Generally, but not always, forward-looking information and statements can be identified by the use of phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved).
Forward looking information and statements are based on current expectations, beliefs and estimates of management of Vizsla at the time such statements are made and are based on numerous assumptions, including among others the price of gold, copper and base metals, that financing will be available if and when needed and on reasonable terms, that the results of planned exploration activities are as anticipated, the cost of planned exploration activities, that third party contractors, supplies and governmental and other approvals required to conduct planned exploration activities will be available and on reasonable terms that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
These forward-looking statements. involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vizsla to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; dependence on third party financing, uncertainty of the availability of additional financing, reliance upon key management, early stage nature of the Company's projects, fluctuations in securities markets and the market price of Vizsla shares; fluctuations in spot and forward prices of gold, copper, base metals or certain other commodities; change in national and local government, legislation, taxation, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; relationships with and claims by local communities and indigenous populations;; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities), deficiencies in the Company's title to its properties.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, Vizsla cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Vizsla assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
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