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Blue Thunder Announces Results of Annual and Special Meeting
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, December 23, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE, OTCQB:BLTMF) (“BLUE” or the “Company”) is pleased to announce the results of voting at its 2020 annual and special meeting, held virtually on December 22, 2020. All resolutions submitted to shareholders for approval as set out in the Company’s Notice of Meeting and Circular were approved by shareholders. These resolutions include;
About BLUE
Blue Thunder Mining Inc. is a gold exploration company focused in the Chibougamau Gold District of Québec, where it has consolidated approximately 51,000 hectares of prospective exploration claims in five separate blocks (the Muus Project), making BLUE one of the largest landholders in the District. Much of the exploration ground occurs along major regional structures, including the Guercheville and Fancamp Deformation Zones, both of which are associated with numerous gold and/or base metal deposits and showings in the District.
ON BEHALF OF THE BOARD
Robert Cinits
President and CEO
Blue Thunder Mining Inc.
401 Bay Street, Suite 2100, P.O. Box 55, Toronto, Ontario, M5H 2Y4
(647) 848-1009
Cautionary Note Regarding Forward-Looking StatementsThis 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 the amount of the announced private placement, 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, 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, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.comand 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.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Blue Thunder Begins Trading on OTCQB Market Under Ticker BLTMF
Toronto, Ontario, December 22, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) is pleased to announce that effective December 22, 2020, it will commence trading on the OTCQB Venture Marketplace (“OTCQB”) under the ticker symbol BLTMF.
“We are extremely pleased to begin trading on the OTCQB. With increased investor interest in gold equities and investments, we believe that this is the right time for Blue Thunder to introduce the Company to a broader range of investors in the US market. The listing and trading of the shares on the OTCQB will provide increased benefits to US investors including reduced trading restrictions and limitations and improved access to disclosure documents, which should increase overall trading liquidity and awareness in the US for Blue Thunder.”
Robert Cinits, President and CEO
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities.
The OTCQB is a marketplace for entrepreneurial and development stage U.S. and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process.
About Blue Thunder
Blue Thunder 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
Robert Cinits
President and CEO
Blue Thunder Mining Inc.
401 Bay Street, Suite 2100, P.O. Box 55, 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 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.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, December 11, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) announces that is has completed the closing of its upsized private placement of $2.41 million (“the Offering”) (please see press releases from November 20, December 7 and December 8, 2020 for details of the Offering). As consideration for the private placement, the Company issued:
Each Unit shall consist of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable by the holder to acquire one Common Share at a price of $0.15 for a period of 24 months following the closing of the Offering.
“With the closing of our private placement financing, Blue Thunder is now in a strong position to advance our Muus Exploration Project in 2021. We are very pleased to welcome several new investors to Blue Thunder and are grateful for the continued support of our existing shareholders that also participated in the financing. We are really excited about the exploration potential on our properties, which are located in the very active Chibougamau Gold District and we look forward to rolling up our sleeves and initiating field work early in the New Year.”
Robert Cinits, President and CEO
Aggregate gross proceeds from the Offering was $2.41 million and the Company issued 22,120,066 common shares in association with Offering and 1,350,000 warrants, which expire on December 10, 2022. The net proceeds from the sale of the Flow-Through Shares and Units will be for the exploration of the Company’s properties and for general working capital purposes.
Finders Fee Agreements
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.
In addition, the Company has entered into agreements with certain arm’s length parties to pay a fee for those purchasers under the Offering introduced to the Company. In aggregate the Company paid cash consideration of $44,674 and issued 416,310 non-transferrable compensation warrants at an exercise price of $0.11 for a period of 24 months following the closing of the Offering.
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 11, 2021. The Offering remains subject to the final approval of the TSX Venture Exchange.
About BLUE
Blue Thunder Mining Inc. (TSXV:BLUE) is a gold exploration company focused in the Chibougamau Gold District of Québec, where it has consolidated approximately 51,000 hectares of prospective exploration claims in five separate blocks (the Muus Project), making BLUE one of the largest landholders in the District. Much of the exploration ground occurs along major regional structures, including the Guercheville and Fancamp Deformation Zones, both of which are associated with numerous gold and/or base metal deposits and showings in the District.
ON BEHALF OF THE BOARD
Robert Cinits
President and CEO
Blue Thunder Mining Inc.
401 Bay Street, Suite 2100, P.O. Box 55, Toronto, Ontario, M5H 2Y4
(647) 848-1009
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 the amount of the announced private placement, 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, 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, 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.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, December 7, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce that it has closed the book on its previously announced, non-brokered private placement offering (the “Offering”), receiving commitments for $2.41 million.
The Company has confirmed commitments on the Offering of:
Each Unit shall consist of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable by the holder to acquire one Common Share at a price of $0.15 for a period of 24 months following the closing of the Offering.
Use of Proceeds
The gross proceeds received from the sale of the Flow-Through Shares will be used to incur Canadian exploration expenses (“CEE”) as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) on the Company’s Muus, Muus East, Nisk, Fancamp and Embry properties and renounced to subscribers in the Offering effective December 31, 2020. Such CEE will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act, and (i) for inclusion in the “exploration base relating to certain Québec exploration expenses” within the meaning contained in section 726.4.10 of the Taxation Act (Québec); and (ii) for inclusion in the “exploration base relating to certain Québec surface mining exploration expenses or oil and gas exploration expenses” within the meaning contained in section 726.4.17.2 of the Taxation Act (Québec). The net proceeds from the sale of the Units will be for the exploration of the Company’s properties and for general working capital purposes.
Finders Fee Agreements
The Company has entered into an agreement (the “Agreement”) with Red Cloud Securities Inc. (the “Finder”) whereby the Company has agreed to pay a fee to the Finder in respect to those purchasers under the Offering introduced to the Company by the Finder. The Finder shall be paid a cash payment equal to 7% of the gross proceeds received by the Company from purchasers under the Offering who were introduced to the Company by the Finder, with such fee representing a maximum of $168,420 paid by the Company to the Finder (the “Cash Finder’s Fee”). In addition, the Company shall issue common share purchase warrants to the Finder in an amount equal to 7% of the common shares issued by the Company to purchasers under the Offering who were introduced to the Company by the Finder, with each such warrant entitling the Finder to acquire one common share for a period of 24 months following the closing of the Offering at a price of $0.11 per common share (the “Finder’s Warrants”).
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.
Closing of the Offering
All shares issued under the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. Closing of the Offering is anticipated to occur on December 10, 2020 and is subject to customary closing conditions including, but not limited to; the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About BLUE
Blue Thunder Mining Inc. (TSXV:BLUE) is a gold exploration company focused in the Chibougamau Gold District of Québec, where it has consolidated approximately 51,000 hectares of prospective exploration claims in five separate blocks (the Muus Project), making BLUE one of the largest landholders in the District. Much of the exploration ground occurs along major regional structures, including the Guercheville and Fancamp Deformation Zones, both of which are associated with numerous gold and/or base metal deposits and showings in the District.
ON BEHALF OF THE BOARD
Robert Cinits
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 the amount of the announced private placement, 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, 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, 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.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, December 7, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce that the Company has increased its recently announced private placement offering of up to $1 million (See press release dated November 20, 2020), and expects to raise C$2.1 million.
This private placement will consist of a combination of:
Each Unit shall consist of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable by the holder to acquire one Common Share at a price of $0.15 for a period of 24 months following the closing of the Offering.
Use of Proceeds
The gross proceeds received from the sale of the Flow-Through Shares will be used to incur Canadian exploration expenses (“CEE”) as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) on the Company’s Muus, Muus East, Nisk, Fancamp and Embry properties and renounced to subscribers in the Offering effective December 31, 2020. Such CEE will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act, and (i) for inclusion in the “exploration base relating to certain Québec exploration expenses” within the meaning contained in section 726.4.10 of the Taxation Act (Québec); and (ii) for inclusion in the “exploration base relating to certain Québec surface mining exploration expenses or oil and gas exploration expenses” within the meaning contained in section 726.4.17.2 of the Taxation Act (Québec). The net proceeds from the sale of the Units will be for the exploration of the Company’s properties and for general working capital purposes.
Finders Fee Agreements
The Company has entered into an agreement (the “Agreement”) with Red Cloud Securities Inc. (the “Finder”) whereby the Company has agreed to pay a fee to the Finder in respect to those purchasers under the Offering introduced to the Company by the Finder. The Finder shall be paid a cash payment equal to 7% of the gross proceeds received by the Company from purchasers under the Offering who were introduced to the Company by the Finder, with such fee representing a maximum of $147,000 paid by the Company to the Finder (the “Cash Finder’s Fee”). In addition, the Company shall issue common share purchase warrants to the Finder in an amount equal to 7% of the common shares issued by the Company to purchasers under the Offering who were introduced to the Company by the Finder, with each such warrant entitling the Finder to acquire one common share for a period of 24 months following the closing of the Offering at a price of $0.11 per common share (the “Finder’s Warrants”).
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.
Closing of the Offering
All shares issued under the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. Closing of the Offering is anticipated to occur on or about December 10, 2020 and is subject to customary closing conditions including, but not limited to; the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About BLUE
Blue Thunder Mining Inc. (TSXV:BLUE) is a gold exploration company focused in the Chibougamau Gold District of Québec, where it has consolidated approximately 51,000 hectares of prospective exploration claims in five separate blocks (the Muus Project), making BLUE one of the largest landholders in the District. Much of the exploration ground occurs along major regional structures, including the Guercheville and Fancamp Deformation Zones, both of which are associated with numerous gold and/or base metal deposits and showings in the District.
ON BEHALF OF THE BOARD
Robert Cinits
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 the amount of the announced private placement, 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, 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, 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.
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario, November 20, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce a non-brokered private placement of up to $1 million from the sale of units of the Company (the “Units”) at a price of C$0.10 per Unit and flow-through common shares of the Company (the “Flow-Through Shares”) at a price of C$0.11 per Flow Through Share. Each Unit shall consist of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable by the holder to acquire one Common Share at a price of $0.15 for a period of 24 months following the closing of the Offering.
The Company may elect to increase the size of the Offering by issuing additional Units or Flow-Through Shares.
The gross proceeds received from the sale of the Flow-Through Shares will be used to incur Canadian exploration expenses (“CEE”) as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) on the Company’s Muus, Muus East, Nisk, Fancamp and Embry properties and renounced to subscribers in the Offering effective December 31, 2020. Such CEE will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act, and (i) for inclusion in the “exploration base relating to certain Québec exploration expenses” within the meaning contained in section 726.4.10 of the Taxation Act (Québec); and (ii) for inclusion in the “exploration base relating to certain Québec surface mining exploration expenses or oil and gas exploration expenses” within the meaning contained in section 726.4.17.2 of the Taxation Act (Québec). The net proceeds from the sale of the Units will be for the exploration of the Company’s properties and for general working capital purposes.
“We are pleased to announce this private placement financing today. The funds raised will be used to build on the 2020 exploration program at our Muus Project, which has included the inaugural drill campaigns on our Muus and Fancamp properties and shows the great support we have received from investors in our exploration initiatives in the Chibougamau Gold District. We would like to thank our existing shareholders that have participated in the financing announced today and welcome our new investors to Blue Thunder.”
Robert Cinits, President and CEO
All shares issued under the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. A finders fee may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before December 10, 2020 and is subject to customary closing conditions including, but not limited to; the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About BLUE
Blue Thunder Mining Inc. (TSXV:BLUE) is a gold exploration company focused in the Chibougamau Gold District of Québec, where it has consolidated approximately 51,400 hectares of prospective exploration claims in five separate blocks (the Muus Project), making BLUE one of the largest landholders in the District. Much of the exploration ground occurs along major regional structures, including the Guercheville and Fancamp Deformation Zones, both of which are associated with numerous gold and/or base metal deposits and showings in the District.
ON BEHALF OF THE BOARD
Robert Cinits
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 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, November 12, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to announce that it will be commencing a diamond drilling program on the Company’s 100%-owned Muus claim block, part of the 51,000 hectare Muus Project (“the Project”) located near Chibougamau, Québec. The Project comprises five non-contiguous claim blocks (“Fancamp”, “Muus”, “Muus East”, “Nisk” and “Embry”).
Highlights:
After successfully completing 14 core holes at Fancamp in late October (refer to press release dated October 21, 2020) and with all new required permits in hand, the diamond drill rig is set to return to the Project within the next week to begin the Company’s inaugural drilling program at Muus. The Muus property is located approximately ten kilometres southwest of Fancamp. The program will comprise approximately 1,200 metres (m) and is designed to test our next key priorities, Target Areas 2 and 3.
“We are pleased to announce that we will be starting our initial drill program at Target Areas 2 and 3 at the Muus property, which are strategically located along major deformation zones and on strike with several significant new gold discoveries and historical deposits in the Chibougamau Gold District. We have recently completed two IP surveys along these trends and are incorporating these results with our database of historical and airborne magnetic data to finalize drill targets at three different locations.”
“In addition, we continue to acquire new claims to enhance our overall project and have recently added eight new strategically located claims into our total land package. We look forward to evaluating the potential of this new ground.”
Robert Cinits, President and CEO
Upcoming Drilling at Target Areas 2 and 3 (Muus Property)
Target Area 2 covers an approximately 18-kilometre segment of the Guercheville Deformation Zone (GDZ), along a sedimentary-volcanic contact, extending west-northwest from the nearby Nelligan gold deposit (3.2 million Inferred ounces gold[1]), currently being explored by Iamgold Corp. The GDZ and its splays represent a major regional structural corridor with associated gold mineralization at several deposits occurring in the Chibougamau Gold District and is a key target area for the Company. Recent drilling success on adjacent land held by Northern Superior Resources Inc. on their Lac Surprise Property, (1.02 grams per tonne gold (“g/t Au) over 35.5 m announced on November 5, 2020) highlights the potential for Nelligan-style gold mineralization underlying the Muus block along the GDZ (refer to Figure 1). It is important to note that the mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization on the Company’s Project.
Two priority areas have been selected for drilling within Target Area 2, one in the southeast part of Muus at the Lac des Vents target, and the second at the western part of Muus at the Lac Bernard target (Figure 1). Approximately 800 metres of diamond drilling is planned to test these targets.
At the Lac des Vents target, a prominent northwest trending magnetic high anomaly coincides with the GDZ close to a sedimentary-volcanic contact. Historical drilling intersected zones of silicification, quartz-tourmaline veining and disseminated pyrite, within interbedded sedimentary units, including coarse clastic horizons, similar to the host lithologies at Nelligan. Historical IP surveys from the Lac des Vents target have been reviewed and reprocessed by the Company and reveal a previously untested, northwest-trending chargeability anomaly, parallel with the magnetic high.
At the Lac Bernard target a prominent west trending strong magnetic anomaly occurs coincident with the GDZ, close to a sedimentary-volcanic contact. This target is also in close proximity to a cluster of historic till concentrate samples that returned anomalous gold values as high as 4,500 ppb. A 10.6 line-kilometre grid has been cut and an IP/resistivity survey completed by the Company over this target. Although the final interpretation is pending, preliminary review of processed data has identified compelling east-west trending IP chargeability anomalies that have not been historically drill tested.
Target Area 3 straddles a secondary fault-splay off the GDZ that continues east beyond the Project boundaries towards the Philibert gold deposit, and the Fancamp Deformation Zone (FDZ) (Figure 1). The junction area of deformation zones is a structural area of interest for lode gold style deposits in the Abitibi. The Lac Cowan target is within Target Area 3 along a section of the GDZ-splay and is underlain by a east-northeast trending gabbroic sill, along the sediment-volcanic contact. A 8.1 line-kilometre grid was established and an IP/resistivity survey completed by the Company over this target. Although the final interpretation is pending, preliminary review of processed data has identified a west-southwest trending IP chargeability anomaly, the majority of which has not been historically drill tested. Approximately 400 metres of diamond drilling are planned to test this target.
Acquisition of Additional Claims
The company has acquired an additional 8 claims in the Chibougamau Gold District through staking and land acquisitions. This includes 4 claims that are contiguous to the company’s Muus property and 4 claims that are contiguous to the company’s Nisk property (see Figure 2). In total, the 8 claims represent a land package of approximately 423 hectares, which adds to the existing 51,000 hectares currently owned by Blue Thunder in the Chibougamau Gold District. In consideration for the claims, the Company will issue 100,000 common shares to the seller, subject to TSX-V approval, and has paid a cash amount of approximately $10,000.
QAQC and Qualified Person
All samples collected from the trenching, drilling and regional prospecting programs are submitted to Techni-Lab, S.G.B. Abitibi Inc., in Sainte-Germaine-Boulé, Québec, part of the Activation Laboratories Ltd. Group (“Actlabs”), where they are analysed for gold by 50 gram fire assay with an AA finish, and by 50 gram fire assay with gravity finish (for samples >5 g/t Au), and by 4-acid digestion ICP multi-element analysis (58 elements). 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’equité, 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
Robert Cinits
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 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.
Figure 1: Map depicting general geology and regional setting of the Muus Property as well as Target Areas 2 and 3 and the target areas for the upcoming Muus drill program
Figure 2: Map depicting newly acquired claims in relation to Blue Thunder’s property portfolio
[1] Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources
Toronto, Ontario, November 5, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to provide additional surface channel sampling results and initial diamond drilling results from the 2020 exploration program at its 51,000-hectare Muus Gold Project (the “Project”), located near Chibougamau, QC. The Project comprises five non-contiguous claim blocks (“Fancamp”, “Muus”, “Muus East”, “Nisk” and “Embry”).
At Fancamp, additional trenching results have continued to be very encouraging, intersecting as high as 12.37 grams per tonne gold (“g/t Au”) over 3.0 metres (“m”), including 22.99 g/t Au over 1.0 m and 6.23 g/t Au over 2.0 m, including 9.64 g/t Au over 1.0 m. Although the vast majority of results from the Fancamp diamond drilling program are pending, initial analytical results from hole FAN 20-02 returned as high as 4.73 g/t Au over 1.0 m.
Trenching and drill results to date provide further evidence that there are multiple, subparallel gold mineralized structures that form part of a 25 to 75 m wide, north to north-east trending “corridor of veins” that extend for more than two kilometres. Within this corridor there are up to six mineralized structures, each spaced approximately 15 to 30 metres apart.
“We are very pleased with these new channel sample results from Fancamp, which further establish the high-grade nature of surface mineralization at the B-Zone. These new analytical results, along with the results reported October 21, 2020 support our interpretation of multiple, subparallel gold zones at the B-Zone, consistent with typical Abitibi lode gold style deposits.”
“In addition, we are very happy to have received the initial drill hole assay results from hole FAN20-01 and the upper part of FAN20-02, both from the B-Zone, which reveal several <1 to 5-metre-wide gold mineralized intervals, highlighted by an intercept of 4.73 grams per tonne gold across a metre in hole FAN20-02. Most of the drill hole intercepts correlate with our modelled corridor of gold mineralized vein-structures, many of which were recently mapped and sampled in trench TR-01. The vast majority of our drill assays are pending from the laboratory and we look forward to releasing additional results as they become available and to updating our interpretations accordingly.”
Robert Cinits, President and CEO
HIGHLIGHTS
Fancamp Trenching and Channel Sampling Program
Additional results have been received for the Fancamp trenching and channel sampling program (refer to press release October 21, 2020 and Figure 1). The Company took eleven additional saw-cut channel samples from trench TR-01, which are reported below and represent the final samples from this program.
Blue Thunder’s 2020 excavator-based trenching program significantly expanded the historic trench at the B-Zone (TR-01), both to the south and the west and cleaned the rock exposure around the historical part of the trench, where the Company took three channel sample lines, each separated by about 7 to 17 meters along strike and together testing an approximate 24 metre strike length (Table 1 and Figure 2). The eleven Individual samples in each of Blue Thunder’s sample lines range between 0.50 and 1.0 metres in length.
Table 1: Blue Thunder Significant Gold Channel Samples1 at Trench TR-01, Fancamp B-Zone
| Sample Line Number (No. of samples in weighted average) | Blue Thunder Weighted Averages2 |
| TR-01-AU (2) | 5.64 g/t Au over 1.7 m |
| TR-01-AV (3) | 12.37 g/t Au over 3.0 m, including 22.99 g/t Au over 1.0 m |
| TR-01-AV (1) | 11.96 g/t over 0.6 m |
| TR-01-AW (2) | 6.23 g/t Au over 2.0 m, Including 9.64 g/t Au over 1.0 m |
Gold mineralization in the trenches is generally hosted in 1 to 3 metre-wide silicified and carbonatized zones, often with quartz-carbonate-tourmaline veining and varying amounts of disseminated pyrite, pyrrhotite and occasional chalcopyrite. These zones can occur within basalt, volcanic tuff, felsic intrusive or gabbro host rocks and generally trend north to northeast.
When added to the existing database of surface trench results these new trenching results are significant as they support our interpretation of multiple, subparallel gold mineralized zones on surface at the B-Zone that form part of a 25 to 75 m wide, north to north-east trending “corridor of veins” that extends for more than two kilometres from the A-Zone to the E-Zone. Within this corridor are up to six mineralized zones, each spaced approximately 15 to 30 metres apart with anomalous (>0.2 g/t Au) to significant (>5 g/t Au) gold grades returned from channel and drill-core samples.
Drilling Program
The first batches of drill results have been received from the recently completed diamond drilling at Fancamp. Drilling was carried out from September 5th to October 7th, 2020, during which time 14 holes totalling 2,811 m were drilled at the A-, B- and D-zones.
Although the vast majority of results are pending, initial drill results from hole FAN20-01 and the upper part (collar to 53.6 m) of hole FAN20-02 have revealed several <1 to 5 metre wide (drilled length) gold mineralized structures, with hole FAN20-02 intersecting 4.73 g/t Au over one metre. The significant mineralized intervals from the drilling are summarized in Table 2.
Table 2: Significant Drill Results (>0.5 g/t Au) – Drill Holes FAN20-01 and -02 (B-Zone)
| Drill Hole | From (m) | To (m) | Interval(1) (m) | Gold Grade (g/t) |
| FAN20-01 | 115.2 | 117.4 | 2.2 | 0.52 |
| Including | 115.2 | 115.7 | 0.5 | 1.02 |
| and | 127.0 | 127.62 | 0.62 | 0.56 |
| FAN20-02 | 33.5 | 38.85 | 5.35 | 1.15 |
| Including | 34.0 | 35.0 | 1.0 | 4.73 |
Drill holes FAN20-01 and FAN20-02 both targeted mineralization below trench TR-01 at the B-Zone and intersected 1 to 5 metre-wide zones of silica-carbonate alteration, along with varying amounts of quartz-carbonate veining and disseminated sulphide mineralization, hosted within mixed mafic-to-intermediate volcanic and tuffaceous units. These gold mineralized zones appear to correlate with the “corridor of veins” mapped on surface (Figures 1 and 2) and in trench TR-01 and provide the Company with an early-stage understanding of the geometry and potential continuity of the gold mineralization.
Drilling Information
A total of 2,811 metres of drilling in 14 holes was completed on the Fancamp project. Drilling produced HQ (63 millimetre) diameter core and in general core recoveries were excellent, averaging around 98%. Drill hole sample lengths ranged between 0.4 and 1.5 metres but generally average around 0.9 metres. Table 3 summarizes the drill hole details and Figures 1 and 2 show the locations of the 2020 Fancamp drill holes and the holes discussed in this press release.
Table 3: Drill Hole Summary
| Drill Hole ID | UTM (Easting*) | UTM (Northing*) | Azimuth (degrees) | Dip (degrees) | Length (m) | Target | Assay Status |
| FAN20-01 | 528,354 | 5,490,328 | 145 | -45 | 192 | B-Zone | Complete |
| FAN20-02 | 528,350 | 5,490,265 | 145 | -55 | 168 | B-Zone | Partial |
| FAN20-03 | 528,387 | 5,490,362 | 145 | -45 | 186 | B-Zone | Pending |
| FAN20-04 | 528,490 | 5,490,438 | 145 | -45 | 294 | B-Zone | Pending |
| FAN20-05 | 528,410 | 5,490,433 | 145 | -45 | 240 | B-Zone | Pending |
| FAN20-06 | 528,190 | 5,490,151 | 110 | -45 | 213 | A/B Zone | pending |
| FAN20-07 | 528,184 | 5,490,045 | 090 | -45 | 225 | A-Zone | pending |
| FAN20-08 | 528,206 | 5,489,972 | 090 | -45 | 162 | A-Zone | pending |
| FAN20-09 | 528,168 | 5,489,968 | 120 | -45 | 219 | A-Zone | pending |
| FAN20-10 | 528,186 | 5,490,000 | 090 | -45 | 189 | A-Zone | pending |
| FAN20-11 | 528,322 | 5,490,269 | 145 | -55 | 141 | B-Zone | pending |
| FAN20-12 | 528,999 | 5,490,877 | 145 | -45 | 246 | D-Zone | pending |
| FAN20-13 | 529,107 | 5,491,038 | 160 | -45 | 193 | D-Zone | pending |
| FAN20-14 | 529,150 | 5,490,926 | 160 | -45 | 143 | D-Zone | pending |
| TOTAL | 2,811 |
* Coordinates are UTM NAD83 Zone 18
QAQC and Qualified Person
All samples collected from the trenching, drilling and regional prospecting programs have been submitted to Techni-Lab, S.G.B. Abitibi Inc., in Sainte-Germaine-Boulé, Québec, part of the Activation Laboratories Ltd. Group (“Actlabs”), where they are analysed for gold by 50 gram fire assay with an AA finish, and by 50 gram fire assay with gravity finish (for samples >5 g/t Au), and by 4-acid digestion ICP multi-element analysis (58 elements). 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’equité, 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
Robert Cinits
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 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.
Figure 1: Trenches, Drill Holes, Vein Trends – Fancamp A-, B-, and D-zones
Note : trench outlines represents areas where outcrop was exposed through excavator-stripping followed by outcrop washing
Figure 2: Trench TR-01 – Fancamp B-Zone (samples discussed in this press release are circled in red)
Note : the trench outline represents an area where outcrop was exposed through excavator-stripping followed by outcrop washing
Toronto, Ontario, October 21, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to provide initial trench sampling results from the 2020 exploration program at its 51,000-hectare Muus Gold Project (the “Project”), which comprises five non-contiguous claim blocks (“Fancamp”, “Muus”, “Muus East”, “Nisk” and “Embry”) near Chibougamau, QC.
“We are extremely pleased with the progress made by our exploration team at Fancamp. The program of surface trenching and channel sampling has successfully expanded the footprint of the known vein trend and returned several notable gold assay results in these new vein exposures. We have also completed our inaugural diamond drilling program at Fancamp and are preparing for ground geophysical surveys, in anticipation of upcoming drilling at Muus. So far, our work has been completed close to both schedule and budget. Although the drill core assay results are pending, we have received most of the surface trench gold assays and are very encouraged by the results. Fancamp is our first of many high-priority targets that we will evaluate during this and future phases of exploration as we advance our pipeline of exciting new targets.”
Robert Cinits, President and CEO
Field work at Fancamp commenced in late July and is expected to continue until year-end with ground geophysics (IP/resistivity) and potential diamond drilling at Muus.
EXPLORATION HIGHLIGHTS
Fancamp Trenching
A total of 9 trenches were excavated at the Fancamp property. Three of these were excavated over the known historical vein trend at the A-, B- and D-zones and the remaining six were excavated outside of the main vein trend, testing historical geophysical (induced polarization/resistivity “IP”) anomalies and interpreted structural targets (Figures 1 to 4). From these trenches, 594 saw-cut channel chip samples were collected over lengths ranging from 0.15 m to 2.0 m, but generally averaging around 1.0 m. In addition, 34 grab samples were collected. Gold assays have been returned for all of the trench samples; however, multi-element ICP analyses, which will provide base metal and other precious- and pathfinder-element concentrations are pending.
Table 1 summarizes the number of samples collected from each trench, the target areas tested and selected significant gold results. Crews have also re-sampled selected parts of the historical trenches in order to corroborate legacy results; however, analytical results from this work are pending as at the time of this press release.
Table 1: Selected Significant Gold Channel Samples1 at Fancamp A-, B- and D-Zones
| Trench Number (No. of samples collected) | Weighted Average2 | Comments |
| TR-01 (238) | 4.96 g/t Au over 0.8 m 7.65 g/t Au over 1.0 m 10.98 g/t Au over 1.0 m 5.94 g/t Au over 1.0 m 3.38 g/t Au over 1.0 m 1.26 g/t Au over 0.5 m 1.40 g/t Au over 3.0 m 1.32 g/t Au over 2.0 m 1.40 g/t Au over 1.0 m 1.06 g/t Au over 0.8 m | B-Zone; testing main vein trend; sampling suggests a southern extension of the mineralization, and a new zone of mineralization along the western margin of the trench |
| TR-02 (16) | No significant gold results | B-Zone; tested a structural target west of main vein trend |
| TR-03 (81) | 0.50 g/t Au over 1.0 m 0.43 g/t Au over 1.0 m | B-Zone; tested a structural target west of main vein trend; uncovered 2 new anomalous mineralized zones ~30 m and 50 m west of the main vein trend |
| TR-04 (53) | No significant gold results | B-Zone; tested a structural target west of main vein trend |
| TR-05 (49) | No significant gold results | Area between B- and D-zones, west of main vein trend; tested an historical IP anomaly |
| TR-06 (38) | 1.12 g/t Au over 1.7 m | D-Zone; new mineralization exposed at D-Zone |
| TR-07 (0) | No samples collected | D-Zone; small trench south of TR-06; no samples collected |
| TR-08 (117) | 0.88 g/t Au over 2.3 m, including | Between A- and B-zones; new surface exposure of mineralization |
| 1.50 g/t Au over 1.0 m 1.28 g/t Au – grab sample 1.54 g/t Au – grab sample 1.12 g/t Au – grab sample 1.26 g/t Au – grab sample | ||
| TR-09 (37) | No significant gold results | B-Zone; structural target south of TR-01 |
The trenching has uncovered several new mineralized zones outside of the historical vein trend and was successful in extending some of the known zones along strike, including:
Gold mineralization in the trenches is generally hosted in 1 to 3 metre-wide silicified and carbonatized zones, often with quartz-carbonate-tourmaline veining and varying amounts of disseminated pyrite, pyrrhotite and occasional chalcopyrite. These zones can occur within basalt, volcanic tuff or gabbro host rocks and generally trend north to northeast.
Drilling Program
Diamond drilling at Fancamp was carried out from September 5th to October 7th, 2020. In total, 14 holes totalling 2,811 m were drilled at the A-, B- and D-zones (Figures 1 to 4).
The current diamond drilling program was designed to test selected historical results at the A-, B- and D-zones, and the projected strike and depth extensions to the various mineralized zones identified by historical exploration, as well as those uncovered during the 2020 trenching program.
Additional details will be provided on the drilling program once all of the drill holes have been logged and sampled and assay results returned.
QAQC and Qualified Person
All samples collected from the trenching, drilling and regional prospecting programs have been submitted to Techni-Lab, S.G.B. Abitibi Inc., in Sainte-Germaine-Boulé, Québec, part of the Activation Laboratories Ltd. Group (“Actlabs”) for gold and ICP multi-element analysis. 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’equité, 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
Robert Cinits
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 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.
Figure 1: Trenches, Drill Holes, Vein Trends and Historical IP (Chargeability) Anomalies – Fancamp A-, B-, and D-zones
Figure 2: Trenches, Drill Holes, Vein Trends and Historical IP Anomalies – Fancamp A-Zone
Figure 3: Trenches, Drill Holes, Vein Trends and Historical IP Anomalies – Fancamp B-Zone
Figure 4: Trenches, Drill Holes, Vein Trends and Historical IP Anomalies – Fancamp D-Zone
Orbec détient une participation de 100 % dans le projet Muus. Le projet Muus est situé dans la partie sud de la région de la Baie James, dans la province de Québec, à environ 30 km au sud de Chapais et à 50 km au sud-ouest de Chibougamau. IAMGOLD a souscrit à hauteur de 500 […]
Mines D’Or Orbec Inc. (BLUE – TSXV) $0.06 Read More »
Blue Thunder Announces Results of Annual and Special Meeting View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, December 23, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE, OTCQB:BLTMF) (“BLUE” or the “Company”) is pleased to announce the results of voting at its 2020 annual
Blue Thunder Announces Results of Annual and Special Meeting Read More »
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Blue Thunder Begins Trading on OTCQB Market Under Ticker BLTMF Toronto, Ontario, December 22, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE, OTCQB:BLTMF) (“Blue Thunder” or “the Company”) is pleased to announce that effective December 22, 2020, it
Blue Thunder Begins Trading on OTCQB Market Under Ticker BLTMF Read More »
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, December 11, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) announces that is has completed the closing of its upsized private placement of $2.41 million (“the Offering”) (please see press releases from
Blue Thunder Announces Closing of $2.41 Million Upsized Private Placement Read More »
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, December 7, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce that it has closed the book on its previously announced, non-brokered private placement offering (the “Offering”), receiving commitments for
Blue Thunder Closes Book on Previously Announced Private Placement at C$2.41 Million Read More »
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, December 7, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce that the Company has increased its recently announced private placement offering of up to $1 million (See press release
View PDF NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES Toronto, Ontario, November 20, 2020 – Blue Thunder Mining Inc. (TSX-V:BLUE) (“BLUE” or the “Company”) is pleased to announce a non-brokered private placement of up to $1 million from the sale of units of the Company (the “Units”)
Blue Thunder Announces Non-Brokered Private Placement of up to C$1 Million Read More »
View PDF Toronto, Ontario, November 12, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to announce that it will be commencing a diamond drilling program on the Company’s 100%-owned Muus claim block, part of the 51,000 hectare Muus Project (“the Project”) located near Chibougamau, Québec. The Project comprises five
View PDF Toronto, Ontario, November 5, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to provide additional surface channel sampling results and initial diamond drilling results from the 2020 exploration program at its 51,000-hectare Muus Gold Project (the “Project”), located near Chibougamau, QC. The Project comprises five non-contiguous claim
View PDF Toronto, Ontario, October 21, 2020 – Blue Thunder Mining Inc. (TSXV:BLUE) (“Blue Thunder” or “the Company”) is pleased to provide initial trench sampling results from the 2020 exploration program at its 51,000-hectare Muus Gold Project (the “Project”), which comprises five non-contiguous claim blocks (“Fancamp”, “Muus”, “Muus East”, “Nisk” and “Embry”) near Chibougamau, QC.
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