Margaux Resources Ltd.
TSX VENTURE : MRL

Margaux Resources Ltd.

August 09, 2016 09:00 ET

Margaux Resources Ltd. Provides Corporate Update

CALGARY, ALBERTA--(Marketwired - Aug. 9, 2016) -

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Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Company") is pleased to provide a corporate update.

  • Data mining for the Jersey Emerald Project
  • Additions to Advisory Services and retention of Consultants
  • Announces fall operational program

Data Mining for the Jersey Emerald Project

The Company has employed a highly technical digitization and data mining strategy to move the 50 years of historical data into the 21st Century. Data Mining consists of reviewing historical holes to identify potential new drill targets. This sets the stage for one of the industry's lowest cost Exploration and Development Programs for 2016.

Additions to Advisory Services and Retention of Consultants

Margaux has retained the services of Continental Geology & Mining Consulting Inc. and Purple Crown Communications.

Continental Geology & Mining Consulting Inc. ("CGMC") provides data integration and target generation and exploration project review. Victor Zhao, President of CGMC, is a registered professional geoscientist in Ontario with 30 years of mining industry experience. Dr. Zhao obtained his Ph.D of Science from Peking University in 1997, Master of Applied Geochemistry in 1989 and Bachelor of Geochemistry and Exploration in 1986 from Changchun University of Geosciences (now Jilin University). He has extensive work experience with different types of precious metals and non-ferrous metal mineral deposits. Before he became an independent consultant in March 2016, Dr. Zhao worked for Canadian Royalties Inc. ("CRI") as Exploration Supervisor from 2010 to 2016. In his previous role, Dr. Zhao generated targets, executed exploration programs, and made significant discoveries in South Camp-Smith Ni-Cu-PGE ore belt, Quebec. He also managed an exploration program on CRI's gold properties located in Abitibi Greenstone area. Prior to joining CRI, he looked after the Sungai Pb-Zn exploration project for Sumatra Minerals in Indonesia in 2010. He was also Senior Geologist Project Generation of Barrick Gold (China) Ltd. and Placer Dome (China) Ltd. from 2004 to 2006. Victor worked for the Gold Geology Institute for 15 years beginning in1989 and held roles of increasing responsibility including Director of Geophysical and Geochemical Research Division. He was a Post-Doctoral Research Fellow in the China Research Centre of Mineral Resources Exploration (a cooperative project between Japan and China), Institute of Geology & Geophysics, China Academy of Sciences from 1999 to 2001.

Victor Zhao and Chaoxian Zhou from CGMC conducted field work from July 11 to 25, 2016 and they will contribute to the exploration program and regional targeting.

Purple Crown Communications Corp. ("Purple Crown") will act as an investor relations consultant to the Company, to assist with corporate finance and investor relations programs. Purple Crown has been engaged at a monthly fee of $6,000. Except for the investor relations services agreement, Purple Crown does not have any interest, directly or indirectly, in the Company or its securities. Purple Crown's appointment as an investor relations consultant to Margaux is subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

Purple Crown Communications Corp. is a full service investor relations and communications firm driven by delivering results to their clients. With over 25 years of combined industry experience in the resource sector, Purple Crown has cultivated extensive relationships in the investment industry as well as the knowledge to effectively communicate their client's message to targeted investors.

Fall Operational Program

The company is announcing a fall operational program, which it currently anticipates will commence sometime in early fall 2016. The fall operational program is expected to involve a new drill program. Further details relating to the scope of the program will be released later this month.

Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company based in Calgary, Alberta. The Company has an option on the previously producing Jersey Emerald tungsten-zinc mine, located in southeastern British Columbia.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux's exploration plans and work commitments, the receipt of required regulatory and other approvals as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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 or accuracy of this release.

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