TORONTO, April 23, 2018 (GLOBE NEWSWIRE) -- Sandy Lake Gold Inc. (“Sandy Lake Gold“) (TSXV:SLAU) announces that it has declared an event of force majeure pursuant to the Option Agreement between GPM Metals Inc. (“GPM”) and Goldeye Explorations Limited (“Goldeye”) dated April 15, 2015, relating to the Property (as defined in the Option Agreement), located in Northwest Ontario.
GPM’s rights under the Option Agreement were acquired by Sandy Lake Gold as previously announced July 21, 2016.
The event of force majeure results from the inability of Sandy Lake Gold to work on or near, or have any access to, the land relating to the Property. Sandy Lake Gold has ceased all work that requires access to the land relating to the Property.
For further information please contact:
Dan Noone
Interim Chief Executive Officer
(416) 628-5904
Email: info@sandylakegold.com
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 and / or accuracy of this release.
Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Sandy Lake, including, but not limited to the effect of any future discussions with local First Nations, the length of time for which the event of force majeure in respect of the Weebigee Project may continue, the nature of any resolution to the matters giving rise to such event of force majeure (if any such resolution is reached at all), the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.