VANCOUVER, British Columbia, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Arcus Development Group Inc. (TSX-V: ADG) (“Arcus”) announces that it will not proceed with the flow-through financing and drill program announced on July 9, 2018.
“Based on current market conditions, Arcus has elected to postpone the drill testing of the Bengal zone until 2019,” reported Ian Talbot, the President of Arcus. “The Bengal zone is the strongest gold-in-soil geochemical anomaly identified on the Dan Man property to date and remains a compelling drill target. With improved logistics and market conditions, Arcus will be able to properly test the Bengal zone in 2019.”
Arcus is a mineral exploration company listed on the TSX Venture Exchange and holds a 100% interest in a number of mineral properties located in the White Gold District of Yukon Territory. The Dan Man property is located immediately north and adjacent to the Goldcorp Coffee property and the Touleary property is located immediately south and adjacent to the White Gold property. For additional information please visit the Arcus website at www.arcusdevelopmentgroup.com.
The technical information in this news release has been prepared and approved by William A. Wengzynowski, P. Eng., a consultant to Arcus and a qualified person for the purposes of National Instrument 43-101.
Arcus Development Group Inc.
“Ian J. Talbot”
Ian J. Talbot, President and CEO
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: This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “will be”, “will have”, “is expected to” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Important factors that could cause actual results to differ materially from the Arcus Development Group Inc.’s expectations are the risks detailed herein and from time to time in the filings made by Arcus Development Group Inc. with securities regulators. Those filings can be found on the Internet at http://www.sedar.com.
For additional information contact:
Ian J. Talbot, President and CEO
Arcus Development Group Inc.
ian@arcusdevelopmentgroup.com
Phone: (604) 687-2522
Web: www.arcusdevelopmentgroup.com