Berkwood Resources Increases Landholding at Lac Gueret Project
TSX VENTURE: BKR
February 27, 2018 / TheNewswire / VANCOUVER, B.C. / Berkwood Resources Ltd. (BKR)(wkn:A110N3) ("Berkwood" or the "Company") is pleased to announce a significant increase in landholding at the Company's 100% owned Lac Gueret Project through the acquisition of 1137794 B.C. Ltd., a private BC company, The acquisition is an arm's-length transaction in which the Company will issue 2,800,000 common shares by way of a share exchange agreement and a cash payment of $25,000. The issuance of the acquisition is subject to TSX Venture Exchange approval.
The recent acquisition takes Berkwood's Lac Gueret land package to 25,180 ha, by far the largest in the region. Additionally, the recently acquired land includes coverage of an electromagnetic anomaly that is associated with Mason Graphite's Lac Gueret project, as seen in the map below:
As previously reported, Berkwood is currently proceeding with phase 3 drilling. The drilling continues to develop and define the 'Zone 1' graphite zone.
Lac Gueret South Zone 1
Lac Gueret South is located in Cote Nord, Quebec, a three-hour drive from Baie-Comeau in an area with very good infrastructure. The Project lies directly south of Mason Graphite's (TSX-LLG) advanced Lac Gueret Project. Mason is developing one of the largest medium to high-grade graphite deposits in the world.
Edward Lyons P.Geo (BC, QC, NL) is a Qualified Person under the definition of Canadian National Instrument 43-101, and has approved the technical information in this news release. He has worked extensively on the Lac Gueret Property, now owned by Mason, and neighbouring graphite properties since 2000.
To view a virtual reality video of the autumn Phase 1 Zone 1 drill program as well as the most recent winter Phase 2 drill program, visit the bottom of our home page at: http://www.berkwoodresources.com.
About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.
On Behalf of the Board of Directors
Berkwood Resources Ltd.
President, CEO & Director
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Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.