Genius Properties Ltd.
CNSX : GNI

Genius Properties Ltd.

December 15, 2016 07:15 ET

Geophysics Completed and Drill Targets Identified for the Blockhouse Gold Property

MONTRÉAL, QUÉBEC--(Marketwired - Dec. 15, 2016) - Genius Properties Ltd. (CSE:GNI) ("Genius" or the "Corporation") is pleased to announce the completion of the 2016 IP survey at the Blockhouse Gold Property. Results have confirmed 2 high priority targets for next month's drilling program to test for the presence of 'leg-reef' and 'saddle' type veins on the property.

Current exploration at Blockhouse is being partially funded by the Province of Nova Scotia through a 50/50 shared funding grant under the Nova Scotia Mineral Incentive Program (NSMIP). The Department of Natural Resources' Geosciences and Mines Branch evaluated applications and awarded Genius with a grant based on the quality and merit of the work proposed and the potential that the project could lead to a new mineral discovery or significantly be advanced.

Property Highlights

Historical records on file with the Nova Scotia Department of Natural Resources indicate that the Prest Vein, on the Blockhouse Property, accounted for 2,043 tons of mill feed between 1896 and 1935, yielding 3,259 ounces of gold for an average grade of 1.59 ounces per ton (49.6 g/t). The width of the Prest Vein within the historically mined shoot is reported to average 0.25 meters (range of 0.15 to 0.61 m) and the wall rock where sampled is reported to average 0.085 ounces per ton (2.9 g/t).

There are also three other fissure type veins within the Blockhouse Property, the Thompson Vein, the Centre Vein and the East Vein (aka Laxer vein). Samples of the Thompson and East Veins have reportedly assayed in the order of 0.02 (0.6g) to 0.5 ounces (15.5g) per ton, the Centre Vein has yet to be reported to contain gold. There was no underground work reported on these three veins.

The Blockhouse Property is underlain by metasedimentary rocks of the Meguma Series, the Goldenville Group (formerly Formation) is composed of arkosic quartzites and interbedded shales, it in turn is overlain by the Halifax Group (formerly Formation) that consists of a series of slates and shales, with a predominance of quartzite near the base.

In April 2016, samples from mine spoils that are present near the old mine opening (shaft) returned results up to 38.6 g/t Au (1.24 ounces/ton).

In November 2016, samples assayed from historic drill core, stored at the Province's core library, reported results up to 0.5g/t over 1.5 m in the hanging wall of the Prest vein in DDH BH-1 near the intersection of the Prest vein with the 'favorable horizon'. Historic whole core sampling limited the amount of available core to be sampled. The 2016 IP survey identified this area as one of the high priority targets, it will also be tested in next month's drilling.

Jimmy Gravel, the President and CEO of the Corporation stated: "By drilling the anomalous trends, Genius anticipates to validate and confirm the presence of 'saddle' type veins. The next month's drilling program will finalize the exploration on the Blockhouse property for the season in a very satisfying and promising way."

The technical components of this press release have been reviewed and approved by Alex Mackay, P.Geo., a Qualified Person pursuant to NI 43-101 technical disclosure and reporting guidelines.

About Genius Properties

Genius is a Canadian mineral exploration company focused on developing projects with some of the world's most critical metals and minerals for use in various industries including in particular, batteries for storing electrical energy and the raw materials essential for Lithium-ion battery production.

Cautionary Statements Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. All information other than historical fact is forward-looking information. Forward-looking information relates to future events or future performance and is based on GNI current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking information is often, but not always, identified by the use of words such as "expect", "project", "proposed", "intend", "seek", "anticipate", "budget", "plan", "continue", "estimate", "forecast", "may", "will", "predict", "potential", "targeting", "could", "might", "should", "believe" and similar expressions. Although management considers the assumptions and estimates, reflected in forward-looking information, to be reasonable, based on information currently available, there can be no assurance that such information will prove to be correct. As a consequence, actual results may differ materially from those anticipated.

Undue reliance should not be placed on forward-looking information which is inherently uncertain, and subject to known and unknown risks and uncertainties (both general and specific) and other factors that contribute to the possibility that the future events or circumstances contemplated by the forward looking information will not occur or that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks include, but are not limited to risks associated with general economic conditions, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future metal prices, financial risks and substantial capital requirements. Further information regarding certain of these risks (as well as risks relating generally to the Company's business) may be found under the headings "Risks and Uncertainties", "Forward-Looking Information" and "Financial risk factors" in the latest Company's Management's Discussion & Analysis on www.sedar.com. Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and GNI does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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