NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario, July 11, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB: BLTMF) (“Blue Thunder” or the “Company”) announces that it has extended the closing of its previously announced non-brokered private placement (the “Offering”) of up to C$500,000 to August 18, 2022.
The terms of the Offering remain unchanged from those set out in the press release dated July 4, 2022 and comprise a total of 33,333,333 units of the Company (each, a “Unit”) at a price of C$0.015 per Unit, each Unit comprising one common share and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable to purchase an additional share of the Company at a price of C$0.05 for a period of three years, subject to early acceleration in certain conditions.
Insiders will be among the significant participants. Shareholders wishing to participate in the Offering should contact the Company through Grove Issuer Services Inc. at [email protected].
The Offering remains subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer for sale of securities in the United States.
About Blue Thunder
Blue Thunder (TSXV: BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec with significant historical production and major recent discoveries. The project is situated on the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD’s Monster Lake to the north with excellent highway and road access. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious- and base-metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams,
Non-Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704,
P.O. Box 4, Toronto, Ontario, M5H 2Y4
For more information, please visit our website bluethundermining.pubco.biz, or contact: Ms. Namrata Malhotra: [email protected] | 416 642-1807
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 release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
Toronto, Ontario, July 11, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB: BLTMF) (“Blue Thunder” or the “Company”) is very pleased to the announce the appointment of Mr. Dorian L. (Dusty) Nicol, B.Sc. M.A., to the Company’s Board of Directors effective immediately.
Mr. Nicol, a graduate (B.Sc.) in Earth Sciences from M.I.T. with a Masters in Geology from Indiana University, has over 45 years of global experience in gold exploration and mining involving virtually every type of gold deposit in a variety of geologic settings. He has designed and managed successful gold exploration programs throughout North and South America, as well as Africa, Russia and Papua New Guinea. At Jerritt Canyon, Nevada he designed and managed the exploration program which culminated in the discovery of over 1.5 million ounces of gold, while his early work in Papua New Guinea attributed to the recognition of the large porphyry system in the Eastern Highlands which became known as the K92 gold deposit. In Kyrgyzstan’s Tulkubash oxide deposit, his efforts added over 600,000 ounces of gold to the resource in the first year.
In addition to his exploration expertise, Mr. Nicol has managed the construction, development and operations of open-pit and underground gold mines in Mexico and Nevada. He has also conducted due diligence processes for gold projects at every stage of development for a number of investment funds and corporate acquisitions. He has held senior corporate positions for several publicly listed companies, and is a Qualified Person as defined by NI 43-101, CP (JORC), Registered Geologist, and Chartered Geologist. He is fluent in six languages.
“We are very fortunate to welcome Dusty to Blue Thunder’s Board of Directors,” commented Chad Williams, non-executive chair. “Dusty’s career in mining is as distinguished as they come – the consummate geologist with highly successful management and operational expertise. His well-rounded experience will be of immense value to the Company as we expand our gold portfolio.”
The Company also announces that Mr. Louis Gariepy has decided to resign from the Board to pursue other interests. “We are indeed very grateful to Louis for his contributions and expert guidance during his term on the Board and wish him much happiness and success,” remarked Chad Williams.
About Blue Thunder
Blue Thunder (TSXV: BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec with significant historical production and major recent discoveries. The project is situated on the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD’s Monster Lake to the north with excellent highway and road access. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile
and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious- and base-metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams,
Non-Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704,
P.O. Box 4, Toronto, Ontario, M5H 2Y4
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 release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario, July 4, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB: BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$500,000, comprising a maximum of 33,333,333 units of the Company (each, a “Unit”) at a price of C$0.015 per Unit, each Unit comprised of one common share and one common share purchase warrant (a “Warrant”).
Each Warrant will be exercisable to purchase an additional share of the Company at a price of C$0.05 for a period of three years from the closing date of the Offering (the “Closing Date”). If the volume-weighted average price of the common shares of the Company on the TSX Venture Exchange over the preceding 20 trading days is greater than C$0.20, the Company can elect to accelerate the term of the Warrants to 30 calendar days following the date a press release announcing the notice of acceleration is issued.
The Company is relying on the minimum pricing amendments announced by the TSX Venture Exchange (“TSXV”) on June 23, 2022 (the “Pricing Amendment”) in offering the Units at a price that is less than $0.05. As per the Pricing Amendment, the Company confirms that the aggregate number of its listed shares issued at a price less than $0.05 in the last 12 months does not exceed 100% of its issued and outstanding listed shares, on a non-diluted basis, at the beginning of the 12-month period. All securities issued under the Offering will be subject to a TSXV hold period in addition to the restricted period under applicable securities laws and will be legended accordingly.
While Insiders will be significant participants, this Offering is open to all qualified investors. The Company particularly encourages existing shareholders who wish to participate in the Offering to contact the Company through Grove Issuer Services Inc. at [email protected].
Of the total proceeds to be raised, $75,000 is to be paid to Non-Arm’s Length Parties, up to $30,000 toward Investor Relations activities, and the balance to be used for general working capital purposes and certain project expenditures as set out in the table below.
CORPORATE EXPENSES
General Admin & Accounting $ 80,000
Professional Fees $ 40,000
Regulatory & Exchange Fees $ 25,000
Bus Dev / IR $ 30,000
Accounts Payable $ 75,000
Officers Compensation $ 75,000
Total Corporate Expenses $ 325,000
PROJECT EXPENDITURES
Field Work – mapping & trenching $ 70,000
Data Compilation & Interpretation $ 40,000
Geophysics & Geochemistry $ 20,000
Accounts Payable $ 45,000
Total Project Expenditures $ 175,000
The Company anticipates Insider participation of at least C$200,000 or 13,333,333 Units. The issuance of Units to Insiders will be considered a “related-party transaction” within the meaning of TSX Venture Exchange Policy 5.9 – Protection of Minority Security Holders in Special Transactions and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemptions from the “minority approval” and “formal valuation” requirements of MI 61-101 in respect of any Insider Participation.
Closing of the Offering is anticipated to be completed on or about July 8, 2022, and is subject to the approval of the TSX-V and other customary closing conditions. There can be no assurances that the Offering will be completed on the terms set out herein, or at all, or that the proceeds of the Offering will be sufficient for the uses of proceeds as set out above.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer for sale of securities in the United States.
About Blue Thunder
Blue Thunder (TSXV: BLUE, OTCQB: BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec with significant historical production and major recent discoveries. The project is situated on the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD’s Monster Lake to the north with excellent highway and road access. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious- and base-metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams,
Non-Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704,
P.O. Box 4, Toronto, Ontario, M5H 2Y4
For more information, please visit our website bluethundermining.pubco.biz, or contact: Ms. Namrata Malhotra: [email protected] | 416 642-1807
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 release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
Toronto, Ontario, April 13, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) is pleased to announce the commencement of an induced polarization (IP) geophysical survey at its wholly-owned Muus property located in the Chibougamau-Chapais region of northern Québec.
GEOSIG Inc. has been retained to implement the IP program, which is anticipated to be completed by the end of April 2022. The IP program will comprise 32 total line-kilometres of ground IP surveys focused on three important and recently identified targets in the Lac Bernard, Lac Caopatina and Lac Irène areas. Data from these surveys will help improve the understanding of these prospective areas and should bring them to a “drill-ready” stage.
Jean-François Métail, President of Blue Thunder commented: “We have been looking forward to the start-up of our winter IP program, and the continuation of our Max-Min ground geophysics survey. The incorporation of data from our recent field work into the latest geological interpretation clearly demonstrates the high potential of several newly defined target areas. We could not be more optimistic about the strong exploration potential these targets present. We are aggressively following up on the most prospective targets to better define our next drilling program.”
Program Detail and Target Definition
The upcoming IP survey will comprise an aggregate 32 km at a line spacing of 200 metres, at three grids over the Muus property, as follows:
Figure 1: Location Map of the 2022 Winter IP Survey Grids
QAQC and Qualified Person
The scientific and technical information that forms the basis for parts of this press release was reviewed and approved by John Langton (P.Geo.), who is a Qualified Person (QP) as defined by National Instrument 43-101.
COVID-19
In conformity with guidelines proposed by the Québec government’s “Commission des Normes, de l’Équité, de la Santé et de la Sécurité du Travail” (“CNESST”), the Company has implemented a strict COVID-19 management plan that complies with provincial government directives and guidelines with the main objective to safeguard the health and safety of our workers, stakeholders and local community members in light of the COVID-19 pandemic. The Company continues to monitor developments related to the COVID-19 pandemic very closely.
About Blue Thunder
Blue Thunder (TSXV:BLUE) is a gold exploration company that controls 100% of a large land position near Chibougamau, Québec. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault‐sets transect the property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious‐ and base‐metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704, Toronto, Ontario, M5H 2Y4
(647) 848-1009
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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 anticipated content, commencement, anticipated exploration program results, the ability to complete future financings, the ability to complete the required permitting, the ability to complete the exploration program and drilling, 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. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploitation thereof.
Windfall Geotek completed the initial work on three (3) separate AI Target Models on the Muus Project (Figure 1) covering an area of approximately 210 km2. Eight (8) high-priority gold exploration targets were identified within three primary areas highlighted for follow-up exploration work (Figure 2):
A fourth model is being developed to address the Caopatina-Desmaraisville volcano-sedimentary segment of the Abitibi Subprovince to the south of the Muus Property, which hosts Iamgold’s Nelligan and Northern Superior Resources’ Lac Surprise gold deposits, two significant recent discoveries.
Jean François Métail, President of Blue Thunder Mining commented: “We are highly encouraged that several targets highlighted by Windfall-Geotek coincide with the areas recently identified in our exploration program. This reinforces our confidence in the next round of exploration, in addition to providing new prospective areas. Given the extensive land package we have, it is of primary importance for us to concentrate on the areas of highest potential.”
Simran Kamboj, President of Windfall Geotek commented:“We’re very excited to work alongside the Blue Thunder exploration geology team to help advance the Muus Project. With the land package so diverse and large, we’re confident that our AI targets will play a key role in their team’s exploration process while reducing their exploration time and budget.”
1 Technical Report entitled “Amended NI 43-101 Technical Report and Maiden Mineral Resource Estimate for the Monster Lake Project” dated May 17, 2018 (amendment to the NI 43-101 Technical Report and Maiden Mineral Resource Estimate for the Monster Lake Project dated May 9, 2018 filed by IAMGOLD Corporation).
Qualified Person
The scientific and technical information in this news release was reviewed and approved by John Langton (M.Sc., P.Geo.) of JPL GeoServices Inc., who is independent of Blue Thunder and is a Qualified Person as defined by National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
The Property is geologically prospective, as it is situated on trend and approximately 20 km west-northwest of the recent Nelligan gold discovery, a joint-venture between Iamgold Corporation and Vanstar Mining Resources Ltd., which hosts NI 43-101 Inferred Resources of 97 million tonnes grading 1.0 gram per tonne of gold, equivalent to 3.2 million ounces of gold.(1)
Jean Francois Metail, President of Blue Thunder commented “Blue Thunder’s Muus property is strategically positioned in a highly prospective gold camp, which hosts Iamgold’s Nelligan and Northern Superior Resources’ Lac Surprise gold deposits; two significant recent discoveries. Importantly, the Tectonic property occurs within the same belt of Caopatina metasediments as both deposits and is proximal to major regional structures that are believed to play an important role in controlling gold mineralization at these two locations. For this reason, we are very pleased to have completed our earn-in of the Tectonic property, as it enhances our strategic land position in a highly fertile camp.”
Tectonic retains a 2% Net Smelter Returns (NSR) royalty, of which half (i.e., 1% NSR) can be repurchased by Blue Thunder under certain conditions and upon commencement of commercial production of any minerals on the property.
NOTES:
(1) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources
Figure 1: Location map
Qualified Person
The scientific and technical information in this news release was reviewed and approved by John Langton (M.Sc., P.Geo.) of JPL GeoServices Inc., who is independent of Blue Thunder and is a Qualified Person as defined by National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
Overview of 2021 Field Activities:
Interpretation of 2021 Results and Plans for 2022:
“We are extremely pleased with the progress made by our exploration team on the Muus Project. The work completed during our first two field seasons have significantly increased our overall understanding of the geological and structural controls of mineralization and identified priority areas for follow-up work in 2022, which we believe hold considerable promise. Working with such a large land package presents us with tremendous options. Part of the process is to bring selective areas of high potential to the drill testing stage, while continuing to advance our understanding and evaluate the rest of the property”.
Jean-François Métail, President
Muus Project 2021 Diamond Drilling Program
Twelve diamond drill holes totaling 2,500 metres (m) were drilled during Blue Thunder’s 2021 field program, including five holes totalling 787 metres at the Fancamp Property and seven holes totalling 1,713 metres at the Muus Property.
At Fancamp, five holes were drilled to test a new geological hypothesis/model as well as deriving a better understanding of the structural and geological controls affecting the gold mineralization. Three holes were drilled to test the volcanic/intrusive contact and a magnetic discontinuity adjacent to known gold mineralization identified along Zones A, D, & E. Holes FAN21-15 and FAN21-16 drilled at Zone A & D respectively, returned narrow anomalous intervals of gold mineralization, among these 3.02 g/t Au over 0.4m (DDH FAN21-16, from 256.0 to 256.4m), whereas no significant results were returned from hole FAN21-17 at Zone E. In addition, holes FAN21-18 and FAN21-19 tested magnetic anomalies and a metallogenic concept associated with the Verneuil Pluton. Hole FAN21-19 intersected narrow intervals of anomalous gold mineralization (see Figure Fancamp2021).
At the Company’s Muus Property, five holes were drilled targeting “Nelligan-style” gold mineralization within the Caopatina meta-sediments, and two holes were drilled in the Lac Bernard area to characterize the Guercheville Deformation Zone (see Figure Muus 2021).
A fence of two holes, MUUS21-07 & MUUS21-08 was drilled just west of Lac Bernard targeting the Guercheville Deformation Zone, with the aim of improving the geological understanding of this important feeder structure. The holes returned moderate gold values (DDH MUUS21-08, 0.48g/t Au over 0.7m from 72.3 to 73.0m, and 0.65g/t Au over 1.4m, 72.3 to 73.0m); however, both holes intersected noteworthy hydrothermal alteration (allowing for refinement of the geological interpretation of this area), and ultramafic dykes, which can act as major geochemical controls on gold mineralization.
Holes MUUS21-09 & MUUS21-10 were drilled to follow-up on targets produced by the Company’s winter 2021 induced polarization (IP) geophysical survey on the so-called Tectonic Grid. Hole MUUS21-09 intersected 0.63g/t Au over 1.5m (from 126.5 to 128.0m), whereas hole MUUS21-11 intersected 0.697 g/t Au over 1.1m (from 8.0 to 9.1m). The chargeability anomalies were explained by graphitic sedimentary units.
At the Discovery Zone, three holes were drilled to follow-up on hole MUUS20-01, which returned 0.6 g/t Au over 18.6m (from 14.5 to 33.1m) during the Company’s 2020 field program. Holes MUUS21-12 was collared as a step-back hole designed to test the potential down-dip extension of mineralization encountered in the discovery hole and intersected several narrow anomalous zones, among these 1.10 g/t Au over 0.6m (from 130.9 to 131.5m) and 0.90 g/t Au over 1.2m (from 154.0 to 155.2m). MUUS21-11 & MUUS21-13 were drilled to test the lateral extension of mineralization to the west, with the former returning a few narrow anomalous intercepts.
Drill results from the Company’s 2021 drill program are summarized in the following table: [link to selected drilling result table]
Till Sampling Survey
IOS Services Géoscientifiques Inc. was mandated by the Company to perform a regional glacial sediment orientation and till-sampling program on the Muus Property in May 2021. A total of 184 till samples were collected from the Muus Property and processed using AI technologies. The program successfully detected several gold dispersion trains leading to the definition of new exploration targets and confirming existing gold targets (see Figure Muus 2021).
The fact that known showings like Welb and Chesbar stand out clearly within the till dispersion gives us great confidence on following up more prominent till targets, again demonstrating the merit of a significant land package.
Soil Sampling Survey
Seven B-horizon soil grids totalling 3,374 soil samples were realized on the Fancamp, Muus and Muus-East properties to define the lateral extent of geochemical anomalies of mobile pathfinder chemical elements (Ag, As, Te, Bi, As, Sb, Cu, Pb, Zn, Pb, Hg, Cd) in soil, potentially associated with gold mineralization. When combined with the structural model, the survey was successful in identifying several anomalous zones over the sampled areas.
Trenching Program
Twelve trenches were excavated during the 2021 trenching program (six on the Muus Property and six on the Fancamp Property). Three of them, being historical trenches, were cleaned, sampled and mapped by the Company, whereas the nine other trenches were excavated this year and designed to increase our understanding of the local geology and the controls affecting gold mineralization. A total of 515 channel and grab samples (290 on Muus and 225 on Fancamp) were collected from cut channels, for close to 467 aggregate metres. Due to late seasonal constraints, seven of the new trenches were not sampled in 2021 and will be part of the 2022 program.
Trenching results at Fancamp Zone C (see FC21-TR01 in the referred table below), located at the edge of a first vertical derivative magnetic anomaly, indicate the potential of that zone, which is untested by drilling and located over 1 km to the west of other mineralized zones.
Several assays returned values over 1.0 g/t Au, with selected assays being summarized in the following table: [link to selected trenching results table]
Muus Prospecting and Regional Mapping Program
Coincident with the soil and trenching campaigns, a limited prospecting and regional mapping campaign was held to refine the geological knowledge of certain key areas. A total of 182 grab samples were collected from 161 outcrops underlying the Muus Property, more specifically on Welb, Chesbar, Lac-des-Vents West and Lac-des-Vents South areas. Although only one sample collected near the Welb historical trench returned anomalous gold values (0.485 g/t Au), many were collected to characterize local lithology and alteration. In the Chesbar area, five samples returned anomalous silver values grading from 0.11 g/t to 2.39 g/t Ag. This latest sample also assayed 1.87% Zn and 0.122% Cu. Another sample, located in the vicinity of the ‘’Lac des Vents’’ area reported anomalous values of Ag, Cu and Zn. Overall, the survey was successful in mapping poorly understood geological areas on the Property. Several lithologies favourable to mineralization were observed as well, specifically in the Welb and Chesbar areas.
Other 2021 Exploration Activities
2021 started with a significant effort toward compilation and digitization of historical work available on the Property, adding critical data to the regional geoscientific knowledge.
Mira Geosciences Ltd., a Quebec-based leader in the AI-assisted geological modelling, was contracted to create a property-wide inversion of the geophysical data and a comprehensive 3D geological model, providing useful and critical information for target generation.
2022 Exploration Program Overview
The Muus Project 2022 exploration program is very ambitious. For our third year of field activity, we aim to bring five of the most promising targets to the drill-ready stage by the end of the summer, while advancing our understanding of some areas that have received very little attention in recent years.
All selected areas of focus show high levels of magnetic anomalies, coupled with favourable positioning along mineralized main deformation trends, and exhibiting favourable hydrothermal alteration signatures (see Figure Muus 2022).
Various geophysical surveys are planned for this winter on the Muus property. Three IP grids are in the final stages of preparation, covering some of the main gold targets of the Project. In addition, a large-scale electromagnetic Max-Min survey is currently underway at the Muus Property, targeting high-potential zones along the Welb-Chesbar trend. Both surveys will allow us to build detailed geological and structural maps that will be used for refining drill targets.
Selective B-horizon soil surveys are planned on the Muus Property as a follow up to the winter 2022 geophysical surveys. With the help of pathfinder elements, the surveys will allow us to pinpoint the mineralization footprint generated by the gold systems, in order to confirm the potential of our drilling targets.
To supplement the soil survey, a prospecting and mapping campaign has been designed to test restricted areas and identify key host lithologies, hydrothermal alteration and structural features on and around the Company’s main targets. A small-sized ATV-towed excavator will be used as a first pass exploration tool in more remote areas.
Considering the significance of the 2021 till survey results, the Company intends to expand the survey area to cover the remainder of the Muus Property. Timing will be dependent on early results of the various 2022 exploration programs and availability of specialized crew.
All the exploration programs are designed to refine and confirm gold targets across the Muus Property and a diamond drilling campaign will then be designed to test those targets and accelerate significant gold discoveries.
About Blue Thunder
Blue Thunder (TSXV:BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of a large land position near Chibougamau, Québec. The Company’s Muus Gold Project (the “Project”) is among the largest aggregate claim holdings in the Chibougamau Gold District (the “District”), comprising more than 51,000 hectares in five non-contiguous claim blocks (Muus, Fancamp, Muus East, Nisk and Embry properties). The Project is strategically located in the eastern part of the Archean Abitibi Greenstone Belt and underlain by several key regional structures, including the Guercheville Deformation Zone, the Fancamp Deformation Zone and the Philibert-Joe Mann Deformation Zone. These major structural discontinuities are associated with many of the known gold deposits and occurrences in the District, including the recently discovered Nelligan and Monster Lake deposits, which underlie properties adjacent to and along strike from some of Blue Thunder’s properties. The Project is host to numerous underexplored mineralized occurrences, some currently being further explored. Mineralization underlying adjacent and/or nearby properties is not necessarily indicative of mineralization at the Company’s properties.
QAQC and Qualified Person
All rock samples collected from the trenching, drilling and regional prospecting programs have been submitted to ALS Minerals Inc., in Val d’Or, Québec, part of the ALS Global group (“ALS”) for gold and ICP multi-element analysis (Nacera Amara & Saa Traxler, Analytical Chemists). The soil samples have been processed by the Company’s staff and the analytical signal of the soil samples has been obtained by an XRF portable analyzer and interpreted as a qualitative geochemical signal only. The soils samples have then been analysed for gold (Au) by Laboratoire Expert Inc. in Rouyn-Noranda, Québec (Joe Landers, Analytical Chemist). The till samples have been processed and analysed by IOS Services Géoscientifiques Inc. in Saguenay, Québec (Karen Gagné, Analytical Chemist). The Company follows a rigorous quality assurance/quality control (QAQC) program for the sampling programs that includes the regular insertion of standards, blanks and duplicates into the sample stream. The scientific and technical information that forms the basis for parts of this press release was reviewed and approved by John Langton (P.Geo.), who is a Qualified Person “(QP”) as defined by National Instrument 43-101.
COVID-19
In conformity with guidelines proposed by the Québec government’s Commission des norms, de l’équité, de la santé et de la sécurité du travail, the Company has implemented a strict COVID-19 management plan that complies with provincial government directives and guidelines with the main objective to safeguard the health and safety of its workers, stakeholders and local community members in light of the COVID-19 pandemic.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704, P.O. Box 4, Toronto, Ontario, M5H 2Y4
(647) 848-1009
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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 anticipated content, commencement, anticipated exploration program results, the ability to complete future financings, the ability to complete the required permitting, the ability to complete the exploration program and drilling, 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. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploitation thereof.
Toronto, Ontario, January 7, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) announces that the Board of Directors has approved the grant of stock options to directors, officers, employees and consultants of the Company for the purchase of up to 4,375,000 shares in the Company exercisable at a price of $0.05 for a period of five years from the date of grant. The grant is pursuant and subject to the terms and conditions of the Company’s existing stock option plan and is subject to the approval of the TSX Venture Exchange and all regulatory requirements.
About Blue Thunder
Blue Thunder (TSXV:BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec with significant historical production and major recent discoveries. The project is situated on the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD’s Monster Lake to the north with excellent highway and road access. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious- and base-metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704, P.O. Box 4, Toronto, Ontario, M5H 2Y4
(647) 848-1009
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 release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
With respect to information pertaining to adjacent or similar mineral properties in the Chibougamau District, readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, December 30, 2021 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce the closing of its previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$1,607,500.
The Offering consisted of the sale of 18,625,000 units of the Company (each, a “Unit”) at a price of C$0.04 per Unit, and 17,250,000 flow-through units of the Company (each, a “FT Unit”) at a price of C$0.05 per FT Unit.
Each Unit comprised one common share of the Company and one common share purchase warrant offered by way of the “accredited investor” and “minimum amount investment” exemptions under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada. Each FT Unit comprised one common share of the Company that qualifies as a “flow-through share” for the purposes of the Income Tax Act (Canada) and one warrant. Each common share purchase warrant entitles the holder thereof to purchase one common share of the Company at a price of C$0.07 for a period of 36 months from closing. The shares and warrants issued under this Offering are subject to a mandatory hold period of four months plus one day from the closing date, expiring on April 30, 2022, and the Offering remains subject to the final approval of the TSX Venture Exchange.
Directors and officers of the Company (the “Insiders”) participated in the offering and subscribed for 3,125,000 Units in the aggregate, for proceeds of $125,000, which constitute “related party transactions” within the meaning of Multilateral Instrument 61-101 respecting Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSX Venture Exchange Policy 5.9 – Protection of Minority Security Holders in Special Transactions. The Company did not file the material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by the Insiders was not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis for sound business reasons. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves the Insiders, is not more than 25% of the Company’s market capitalization. Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves the Insiders, is not more than 25% of the Company’s market capitalization.
The net proceeds raised from the sale of the FT Units will be used by the Company to fund exploration on the Company’s Muus Gold project while incurring Canadian Exploration Expenses, that qualify as “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), to be renounced to subscribers in the Offering, effective December 31, 2021.
______________________________________________________________________________________________
“We are very encouraged by the enthusiastic support for the financing and are eminently grateful for the participation of so many of our loyal shareholders. Our Muus Gold project is among the largest land assemblages near the Chibougamau Gold District in Quebec, along the same major structural trends as IAMGOLD’s Nelligan project to the east.*
Jean Francois Metail, President
______________________________________________________________________________________________
Pursuant to a finder’s fee agreement with Red Cloud Securities Inc. (“Red Cloud”), the Company paid a commission to Red Cloud equal to 8.75% of the gross proceeds for the number of Units it placed from the sale of the Offering, payable in the form of 1,863,750 common shares of the Company, valued at $0.05 per common share. In addition, the Company issued to Red Cloud 1,596,000 finder’s warrants to acquire that number of Units equal to 7.0% of the aggregate number of Units and FT Units sold to identified parties, exercisable at any time from the closing date to the day prior to the date that is 36 months following closing. A cash commission equal to 1% was also paid to PI Financial Corp. for the number of Units it placed.
The following table sets out the principal purposes, using approximate amounts, for which the Company currently intends to use the net proceeds of the Offering:
| USE OF PROCEEDS | Estimated Costs |
| Corporate Expenditures | |
| Management and consulting fees | $150,000 |
| General and administrative | $200,000 |
| Professional fees | $275,000 |
| Regulatory fees | $30,000 |
| Various and unallocated | $90,000 |
| Total Projected Corporate Expenditures | $745,000 |
| Project Expenditures | |
| Drilling and/or to be defined | $310,000 |
| Artificial intelligence and machine learning | $175,000 |
| Geophysical work | $175,000 |
| Geochemistry work | $125,000 |
| Mapping, trenching, and other field work | $77,500 |
| Total Projected (Flow-Through) Expenditures | $862,500 |
| Grand Total | $1,607,500 |
*[see press release IAMGOLD:IMG – December 16, 2021 – Assay Results].
Qualified Person
The scientific and technical information in this news release was reviewed and approved by John Langton (M.Sc., P.Geo.) of JPL GeoServices Inc., who is independent of Blue Thunder and is a Qualified Person as defined by National Instrument 43-101.
About Blue Thunder
Blue Thunder (TSXV:BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec, a historic camp with significant historical production and major recent discoveries. The Muus Gold project is underlain by the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources’ Lac Surprise projects to the south and IAMGOLD’s Monster Lake project to the north, with excellent highway and road access. The Muus Gold project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt and is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious and base metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704, Toronto, Ontario, M5H 2Y4
(647) 848-1009
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 release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, December 01, 2021 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$1,000,000 from the sale of the following:
Red Cloud Securities Inc. will be acting as a finder on behalf of the Company in relation to the Offering.
Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” that will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) (each, a “FT Share”) and one Warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.07 for a period of 36 months following the closing date of the Offering (the “Closing Date”).
The Offered Securities will be offered by way of the “accredited investor” and “minimum amount investment” exemptions under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada, and the Units may be sold to offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (collectively, the “Selling Jurisdictions”). The Unit Shares, FT Shares and Warrant Shares will be subject to a four-month hold period in Canada following the Closing Date (as defined herein).
The Company is relying on the temporary relief measures announced by the TSX Venture Exchange (“TSXVE”) on April 8, 2020 and June 17, 2021 (the “Temporary Relief”) in offering the Units at a price that is less than $0.05.
Pursuant to the Temporary Relief, the Issuer will not issue more than 100% of its issued and outstanding Common Shares pursuant to the Offering. All securities issued under the Temporary Relief will be subject to a TSXVE hold period in addition to the restricted period under applicable securities laws and will be legended accordingly.
In connection with the non-brokered private placement, the Company also announces that it has entered into a Finder’s Fee Agreement (the “Agreement”) with Red Cloud Securities Inc. (“Red Cloud” or the “Finder”) to assist the Company in finding subscribers on a “best efforts” basis. At the Closing Date, the Company shall pay to the Finder a commission equal to 7.0% of the gross proceeds (the “Finder’s Commission”) from the sale of Offered Securities to the identified parties. The Finder’s Commission shall be payable in common shares of the Company, with the number of common shares of the Company issuable to Red Cloud equal to the total Finder’s Commission. In addition, the Company shall issue to Red Cloud Mining Capital, on the Closing Date, warrants of the Company (the “Finder’s Warrants”) exercisable at any time from the closing date to the day prior to the date that is 36 months following the Closing Date to acquire that number of Units which is equal to 7.0% of the aggregate number of Offered Securities sold to the identified parties.
The entering into the Agreement is considered to be a related party transaction under Multilateral Instrument 61-101, but is exempted from the requirements to obtain a formal valuation and to obtain minority approval, as the consideration payable to the Finder under the Agreement does not exceed 25% of the Company’s market capitalization. The independent directors of the Company have approved the Agreement. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101.
The proceeds from the Unit Offering will be used by the Company as set out in the Use of Proceeds table below, assuming the raising of either (i) the Minimum Proceeds and (ii) the FT Units. The Offering of Units will only close if the Minimum Proceeds are raised. If more than the Minimum Proceeds from the sale of Units are raised, all additional funds up to the Maximum Proceeds will be used as hereunder set out.
USE OF PROCEEDS OF UNIT OFFERING
| Minimum Offering* | Maximum Offering* | |
| 7 months | 9 months | |
| CORPORATE EXPENSES | (Dec. 2021 – June 2022) | (Dec. 2021 – Aug 2022) |
| Management fees & consulting (CEO & CFO) | $100,000 | $125,000 |
| Office and General | $160,000 | $180,000 |
| Professional fees | $150,000 | $170,000 |
| Regulatory Fees | $25,000 | $25,000 |
| Unallocated | $65,000 | $0 |
| Total Corporate Expenses | $500,000 | $500,000 |
| PROJECT EXPENDITURES | ||
| Drilling | $0 | $500,000 |
| Artificial intelligence and machine learning | $175,000 | $175,000 |
| Geophysical work | $175,000 | $175,000 |
| Geochemistry work | $75,000 | $75,000 |
| Mapping, trenching and other field work | $75,000 | $75,000 |
| Total Project Expenditures | $500,000 | $1,000,000 |
| Grand Total | $1,000,000 | $1,500,000 |
*Although the Company intends to use the proceeds of the Unit Offering as described above, the actual allocation of net proceeds may vary, depending on actual cost of field activities, future results, or unforeseen events
Certain insiders of the Company may participate in the Offering; however, the total participation by insiders is not expected to exceed 25% of the Offering.
Closing of the Offering is scheduled to occur on or about December 14, 2021 and is subject to the approval of the TSXVE and other customary closing conditions. There can be no assurances that the Offering will be completed on the terms set out herein, or at all, or that the proceeds of the Offering will be sufficient for the uses of proceeds as set out above.
Blue Thunder (TSXV:BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec with significant historical production and major recent discoveries. The project is situated on the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD’s Monster Lake to the north with excellent highway and road access. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious- and base-metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2100, P.O. Box 55, Toronto, Ontario, M5H 2Y4
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 release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploitation thereof
Document comparison by Workshare Compare on November-26-21 9:25:16 AM
| Input: | |
| Document 1 ID | iManage://WORK_EAST/CANADA_EAST/115246096/1 |
| Description | #115246096v1<CANADA_EAST> – BLUE – PressRelease announcing placement |
| Document 2 ID | iManage://WORK_EAST/CANADA_EAST/115246096/2 |
| Description | #115246096v2<CANADA_EAST> – BLUE – PressRelease announcing placement |
| Rendering set | Standard |
View NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Toronto, Ontario, July 11, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB: BLTMF) (“Blue Thunder” or the “Company”) announces that it has extended the closing of its previously announced non-brokered private placement (the “Offering”) of up to C$500,000 to […]
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View Toronto, Ontario, July 11, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB: BLTMF) (“Blue Thunder” or the “Company”) is very pleased to the announce the appointment of Mr. Dorian L. (Dusty) Nicol, B.Sc. M.A., to the Company’s Board of Directors effective immediately. Mr. Nicol, a graduate (B.Sc.) in Earth Sciences from M.I.T. with
Blue Thunder Announces Appointment of Dorian L. Nicol to the Board Read More »
View NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Toronto, Ontario, July 4, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB: BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$500,000, comprising a maximum of
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View Toronto, Ontario, April 13, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) is pleased to announce the commencement of an induced polarization (IP) geophysical survey at its wholly-owned Muus property located in the Chibougamau-Chapais region of northern Québec. GEOSIG Inc. has been retained to implement the IP program, which
View PDF Toronto, Ontario, March 29, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) is pleased to announce that Windfall Geotek, a leader in the application of artificial intelligence (AI) for the mining sector, has initiated an assessment of Blue Thunder’s Muus Property in Chibougamau, Quebec, using its AI Mineral
View PDF Toronto, Ontario, March 24, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) is pleased to announce that it has fulfilled the terms of its option agreement with Resources Tectonic Inc. (“Tectonic”) and has earned a 100% ownership interest in the Tectonic property (the “Property”), which comprises 47 claims
View PDF Toronto, Ontario, March 03, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to provide year-end results for 2021 and the Company’s plans for 2022 at its Muus Gold Project (the “Project”), near Chibougamau, Quebec. Overview of 2021 Field Activities: 12 diamond drill holes completed for 2,500 metres
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View PDF Toronto, Ontario, January 7, 2022 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) announces that the Board of Directors has approved the grant of stock options to directors, officers, employees and consultants of the Company for the purchase of up to 4,375,000 shares in the Company exercisable at a
Blue Thunder Grants Stock Options Read More »
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, December 30, 2021 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce the closing of its previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$1,607,500. The
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, December 01, 2021 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$1,000,000 from the sale of
Blue Thunder Announces Non-Brokered Private Placement of up to C$1.0 Million Read More »
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