Brascan Announces Agreement to Acquire REE Claims, The Canadian Business Journal

VANCOUVER, British Columbia, November 25, 2022 (GLOBE NEWSWIRE) — Braskan Gold Co., Ltd. (CSE: Brass) (“braskan” or “Company”) is a share exchange agreement (“agreement), November 23, 2022, 1000348637 Ontario Inc. (“number company), a private independent company, a shareholder of NumberCo (“vendor“) and the owner (“claimant) a particular mineral claim known as “Albany Fork” (“Claim”) covers approximately 2,376 hectares in the Porcupine Mining Division, 365 km northwest of the town of Timmins in the James Bay Lowlands. Pursuant to this Agreement, the Company will provide a deemed value of $0.02 per share (“transaction”) and the Claim Owner has agreed to transfer ownership of the Claim to NumberCo prior to consummation of the Transaction. Brasskan targets Albany folk carbonatite, which may be magnetite, niobium and/or rare earth elements (REEs) according to historical government reports (eg Sage, 1987).

Brascan CEO Balbir Johal said:We are pleased to expand into Battery Metals with our first acquisition of this REE property in Ontario, Canada. Exploration will begin soon. “ Mr Johar further said: “Brascan intends to build a highly promising portfolio of lithium properties in Canada and Brazil.”

Billing
The Albany Forks Carbonatite is a strong magnetic anomaly for regional airborne magnetism (eg OGS Map P3599 Rev. 3, 2006). As reported by Sage (1987), the magnetic anomaly was drilled in 1969 with a single hole inclined at 80 degrees to the horizontal, and in total he extended to a depth of 360.5 m. After drilling through a thick cover of Paleozoic limestone, the borehole entered carbonatite at 222.8 m, composed of calcite carbonatite and magnetite (Sage, 1987). According to Sage (1987), the remains, although in a remote location beneath thick Paleozoic overburden rocks, may host niobium, uranium, phosphates, and/or REEs.

qualified person
Harrison Cookenboo Ph.D., P.Geo. QP according to National Instrument 43-101 Mineral Project Disclosure Standardshas reviewed the scientific and technical information in this news release and approved its disclosure here.

For more information, investors should review the company’s filings available at www.sedar.com.

About the company
We are a gold exploration and publishing company based in Vancouver, British Columbia. The Company has options in Middle Arm Fault, Black Cat, Birchie Lake and Mountain Pond properties located in the Bay Verte region of northern Newfoundland and Miguel’s Lake properties located in central Newfoundland. hold. The company also has an option in the Alegre project in the state of Para in northeastern Brazil.

For more information, investors should review the company’s filings available at www.sedar.com.

contact address
Barbir Djohar
Director and CEO
Phone: 604 812 1747
Email: [email protected]

References:
Geological Society of Ontario, 2006. Hudson Bay and James Bay lowland regions interpreted from aeromagnetic data. South Sheet, map P3599 revision, 1:500,000.

Sage, RP, 1987. Carbonatite Geology – Alkaline Rock Complex of Ontario: James Bay Lowland. Page 62.

Forward-Looking Statements
This news release contains certain forward-looking statements that are “forward-looking information” within the meaning of applicable securities laws. All statements that are not historical facts. This includes, but is not limited to, statements regarding future estimates, plans, programs, forecasts, forecasts, objectives, assumptions, expectations or beliefs of future performance. This includes statements regarding the contract and its obligations under it, the transaction, assignment of claims, mineralization on claims, our expansion into battery metals, and our planned commencement of exploration are “forward-looking information.” These forward-looking statements reflect the expectations or beliefs of our management based on currently available information. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed in our filings with securities regulators from time to time. This could cause actual results to differ materially from those set forth in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this release and we may not make any forward-looking statements or statements as a result of new information, future events or otherwise. We undertake no obligation to publicly update or revise the information. except as required by applicable securities laws.

The Canadian Stock Exchange has not verified and is not responsible for the accuracy or adequacy of this release.

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