Big Wind Capital Corp.

July 25, 2016 09:30 ET

Big Wind Captial Announces Plans for a Financing to Advance Gold Prospects in La Ronge Gold Belt, SK

KELOWNA, BRITISH COLUMBIA--(Marketwired - July 25, 2016) - Big Wind Capital Corp. (the "Company") (CSE:BWC) is pleased to announce a best efforts financing, with a minimum of C$350,000 up to a maximum $850,000, of common shares at a price of C$0.08 per share. A cash finder's fee of 6% of the gross proceeds raised in the offering may be paid. Closing of the offering is subject to receipt of applicable regulatory approvals. The common shares will be subject to resale restrictions for a period of four months from the closing date.

The net proceeds from the sale of the common shares will be used to advance the development of the Company's claim package prospective for gold in the La Ronge Gold

Belt and the Flin Flon Greenstone Belt region of northern Saskatchewan (the "Project") and for general working capital. The Project is comprised of 39 mineral claims in 7 project areas with a total land package of 31,731 hectares.

Mr. Ross McElroy has agreed to join the board of directors of the Company and will direct the exploration program. The Company intends to undertake a preliminary exploration program upon closing of the financing.

Dev Randhawa, Chairman and CEO for Big Wind Capital, commented

"The price of gold has risen more than 25% in 2016 and many experts suggest that the underlying fundamentals will continue to propel the price of gold higher. This is an exciting time to be involved in the gold sector, and our recent acquisition of high- quality projects in Saskatchewan's historic La Ronge Gold Belt mining district comes at the right time for the company. Saskatchewan is recognized globally as a top tier mining district which for the 2nd consecutive year, the Fraser Institute ranks as the top jurisdiction in Canada and 2nd overall in the world. The La Ronge Gold Belt is known for hosting high-grade gold deposits and is home to 5 former producing mines. With our strong well positioned portfolio, the potential for new significant discoveries is high."

Background Information

Gold deposits in Saskatchewan are found mainly in the Early Proterozoic volcanoplutonic regimes of the La Ronge and Flin Flon domains. Six of the project areas are located within the La Ronge Gold Belt and a 7th project is located in the Flin Flon Greenstone Belt located to the south-east (see Table 1).

Table 1: Saskatchewan Gold Properties

Geological Area Property Number of Claims Project Size (Ha )
La Ronge Gold Belt Hilda Pond 1 1,992.75
Kidney Lake 7 4,945.38
McKenzie Lake 1 5,955.22
McLennan Lake 6 976.28
Miles Lake 13 13,055.12
Slaney Lake 10 3,533.56
Flin Flon Greenstone Belt Standing Lake 1 1,272.97
Total 39 31,731.27

The La Ronge Gold Belt hosts 13 known gold deposits including 5 former producing gold mines. Gold mineralization in the La Ronge Gold Belt is mostly structurally controlled, quartz-vein type and characteristically high-grade, often with average grades >10 g/t Au.

  • Hilda Pond lies north and contiguous with claims owned by Kristo Gold (private company). The Kristo Gold claims host the past producing Anglo-Rouyn Cu-Zn-Au Mine.
  • The Kidney Lake and McKenzie Lake properties are contiguous to the north and south of a large land package belonging to Golden Band Resources encompassing the past producing Komis & Star Lake deposits, and the EP, Golden Heart, Memorial, Tower East, Kaslo, Birch Crossing, Jojay, Alimak & Decade gold deposits.
  • The McLennan Lake property lies 7km south of the past producing Star Lake Au mine. Access is excellent as the property straddles Highway 102 from La Ronge
  • The Slaney Lake property is contiguous on the north with a Golden Band land package that hosts the Bingo Gold Deposit (Roy Lloyd Mine)
  • The Miles Lake is contiguous to the west with a Golden band land package that encompasses the past producing Contact Lake Gold

The Flin Flon Greenstone Belt is located approximately 120km to the south-east of the La Ronge Gold Belt. This mining district has been host to 25 operating mines since 1916. Most of the mines are copper-zinc, although at least 3 mines produced principally gold and silver.

  • The Standing Lake property has several historic copper showings, the most significant being 1.25% Cu over 0.3m from drill core. A belt of Cu-Zn-Au-Ag showings trend north-west from Flin Flon through the property. Access is excellent via provincial highway 106 that cuts the south edge of the claim.


Dev Randhawa, Chairman & CEO

This press release contains "forward-looking information" that is based on Big Wind Capital Corp's current expectations, estimates, forecasts and projections. This forward- looking information includes, among other things, statements with respect to Big Wind's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Big Wind's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward- looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Big Wind Capital Corp.
    Greg Downey
    Investor Relations