TORONTO, ONTARIO--(Marketwired - Dec. 1, 2016) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) (the "Company") is pleased to announce that it has entered into an option to lease the Morningstar Property in Esmeralda County, Nevada, USA. The property consists of 33 unpatented mining claims. The agreement with SEKMD, LLC ("SEKMD") provides for a 90 day option period during which time the Company intends to carry out due diligence on the property.
Exercise of the option will be contingent on the results of the due diligence, the Company's ability to raise the necessary funds to carry out any initial exploration work and make the necessary payments to SEKMD, entering into a definitive lease agreement with SEKMD as well as receipt of all necessary regulatory and other approvals, including that of the TSX Venture Exchange.
The Morningstar Project is an historic epithermal gold-silver property located within the Walker Lane Structural Zone of Eastern Nevada. The Walker Lane has hosted numerous current and historic multi-million ounce gold and silver districts including Round Mountain, Goldfields, Tonopah, Comstock and Aurora. At Morningstar, several veins are exposed in historic workings and alteration is widespread over the entire property. Significant work has been completed on the property by previous workers including 25 reverse circulation rotary drill holes, detailed geologic and alteration mapping, soil and rock chip sampling and an IP Resistivity survey.
David R. Shaddrick, M.Sc., P.Geo., the Company's Acting President and CEO, is coordinating the execution of the Company's strategic plan. Mr. Shaddrick states: "the Morningstar property represents the first step in the implementation of our previously announced strategic plan and we expect to move forward aggressively to expand the Company's asset base and to strengthen our Board of Directors."
Mr. Shaddrick, M.Sc., P.Geo., a Qualified Person within the meaning of National Instrument 43-101, and an officer and director of the Company, has reviewed and approved the technical contents of this news release.
About Duncan Park
Duncan Park is a Toronto based mineral exploration company, exploring for gold and other precious metals in Ontario's prolific Red Lake gold mining district.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the option agreement entered into by Duncan Park and the potential lease agreement that it would enter into upon exercise of the option as well as the Company's plans to expand its asset base and board of directors. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Duncan Park to be materially different from those expressed or implied by such forward-looking information, including risks related to mineral exploration companies, including those related to option and lease agreements, such as obtaining all requisite regulatory and other approvals, entering into a definitive lease agreement, other transactional risks such as securing necessary financing and related regulatory and other approvals, completing satisfactory due diligence and obtaining a favourable National Instrument 43-101 report, identifying and securing, on favourable terms, new assets and identifying qualified candidates for the Company's board of directors, as well as other risks associated with the exploration, development and mining industry such as economic factors, future commodity prices, changes in foreign exchange and interest rates, government regulation, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with exploration and development activities, regulatory approvals, availability of skilled labour and equipment, the speculative nature of gold exploration and development, contests over title to properties, the lack of any assurance between the results achieved by other entities with nearby or proximate properties and results achieved by other entities and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Duncan Park's management's discussion and analysis for the period ended August 31, 2016, available on www.sedar.com.
Although Duncan Park has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Duncan Park does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.