Brunswick Resources Inc.
TSX VENTURE : BRU

Brunswick Resources Inc.

June 07, 2016 11:00 ET

Brunswick Resources Acquires Lake Irene Properties in Quebec

ROUYN-NORANDA, QUEBEC--(Marketwired - June 7, 2016) - Brunswick Resources Inc. (the "Corporation" or "Brunswick") (TSX VENTURE:BRU) is pleased to announce the acquisition of two mining properties located in the northwestern region of the Province of Quebec at approximately 45 kilometers southwest of the Chibougamau mining camp. The properties are located contiguously and to the west of the Monster Lake Project of TomaGold and Iamgold, in the Chibougamau Mining camp.

The properties are being acquired because Brunswick has identified to the west of the Monster Lake Structural Zone a parallel structural corridor. The Monster Lake Project is underlain by Archean Volcanic rock of the Obatogamau Formation and is traversed by an important deformation corridor and associated gold-bearing mineralized structures. Historical drilling and recent success by TomaGold have identified at least a four kilometer long structural corridor including amongst others, the 325 Megane high grade gold Zone.

The First Option Agreement

The Corporation has entered into an option agreement to acquire 29 mining claims located in the Jamésie region of Northwestern Quebec.

Brunswick Resources Inc. will pay a total of $25,000 and issue a total of 1,500,000 common shares over a period of 3 years for an Option to acquire a 100% interest in the Irène Lake Property. The Optionor has retained a 2.0% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.

The Second Option Agreement

The Corporation has entered into an option agreement to acquire 14 mining claims located in the Jamésie region of northwestern Quebec.

Brunswick Resources Inc. will pay a total of $6,000 and issue a total of 600,000 common shares over a period of 3 years for an Option to acquire a 100% interest in the additional claims of the Irène Lake Property. The Optionors have retained a 2.0% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.

Both properties are contiguous and to the west of TomaGold's and Iamgold Monster Lake Project where 5 major gold zones were intercepted. Over 20 intercepts of high gold ranging from 10.0 to 237.6 g/t Au were discovered on the Monster Lake property.

Brunswick Resources Inc., announces that the Corporation has sold the Abitibi Gold Property. Brunswick Resources has decided to concentrate its exploration efforts on the new properties in Québec and on the Chester Property in New Brunswick.

Christian Dupont, P. Eng., is the qualified person responsible of the information contained in this press release.

Brunswick Resources Inc. is a publicly listed company trading on the TSX Venture Exchange (BRU).

This press release was prepared by Brunswick Resources Inc. Neither the TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

About Brunswick Resources Inc.

Brunswick Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario and New Brunswick. Brunswick is currently focused on exploration in the Bathurst Mining Camp. The Bathurst Mining camp is where 47 VMS (volcanic massive sulfide) deposits have been found to date, including the Brunswick No. 12 and the Brunswick No. 6 Mines where more than 130,000,000 tonnes of Base metal ore has been produced to date. Brunswick Resources Flagship project is the Chester Copper and VMS Project located in the Bathurst Mining camp. The Chester mineral resource (Explor Resources Press Release dated April 10, 2014) includes the following:

MINERAL RESOURCE ESTIMATE - CHESTER DEPOSIT (MARCH 7, 2014)


Class
Cut-off
(Cu%)

Ktonnes
Cu
(%)
Zn
(%)
Ag
(g/t)
In-Pit
Measured 0.5 101 1.87 0.14 6.7
Indicated 0.5 1,296 1.34 0.06 3.3
Measured and Indicated 0.5 1,397 1.38 0.06 3.5
Inferred 0.5 2,060 1.25 n/a n/a
Below Pit
Inferred 2.0 29 2.33 n/a n/a
Combined
Measured 0.5 101 1.87 0.14 6.7
Indicated 0.5 1,299 1.34 0.06 3.3
Measured and Indicated 0.5 1,400 1.38 0.06 3.5
Inferred Variable 2,089 1.26 n/a n/a
Note: Inferred resources are based primarily on older drilling results which do not have sufficient zinc and silver analyses to generate resource grades for these elements.

Robert Sim, P.Geo, an independent consultant, served as the Qualified Person responsible for preparing the Technical Report, as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects (NI 43-101), in compliance with Form 43-101F1 (the Technical Report). Mr. Sim is a Geologist with more than 30 years of experience primarily in base and precious metals exploration, operations, resource modeling, and feasibility-level evaluations. Mr. Sim has worked on similar volcanogenic massive sulphide (VMS) deposits, including the Winston Lake deposit in Ontario and the Cayeli deposit in Turkey. Mr. Sim received assistance from Geo-statistician Bruce Davis, Ph.D., FAusIMM, of BD Resource Consulting, Inc.

This document may contain forward-looking statements relating to Brunswick's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Brunswick's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Brunswick disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

A map of the LAC IRENE GOLD PROPERTY is available at the following address: http://media3.marketwire.com/docs/160607_BRU_MAP.pdf

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