Apex Resources Inc. Expands its Mineral Tenure Holdings in BC's Golden Triangle
January 31, 2017
Vancouver, BC - January 31, 2017: Apex Resources Inc. (TSX-V: APX; "the Company, "Apex") is pleased to announce it has acquired 1833.13 hectares of additional mineral tenures on its Cloud Property, located in British Columbia's Golden Triangle area approximately 50 km north of the community of Stewart, BC. This brings the Cloud Property to a total of 3414.15 hectares.
The Cloud Property is one of three properties owned by Apex in the Golden Triangle area. Together with the Wild and Eldorado Properties Apex now holds almost 10,000 hectares of mineral tenures in this metal rich area (see News Release dated August 24, 2016). The Cloud Property is located 8.0 kilometres west of the historic Granduc Mine with 15.5 million tonnes of historic production grading 1.22% copper, 0.13 g/t gold and 7.97 g/t silver. On the Cloud Property, high level government magnetics show a strong magnetic trend similar in size and magnitude to that seen at the Granduc Mine. Currently, the company is acquiring detailed satellite imagery base mapping in preparation for an airborne geophysical survey (magnetics and electromagnetics).
British Columbia's Golden Triangle is host to the Red Chris mine with a measured and indicated resource of 1.034 billion tonnes grading 0.35% copper and 0.35g/t gold and several high-grade past-producing gold mines including the Premier, Eskay Creek and Snip deposits. Several large new gold deposits are approaching potential development including Seabridge Gold Inc.'s KSM Project and the Valley of the Kings deposit of Pretium Resources Inc.
Arthur Troup, president of Apex, commented, "The golden triangle is the most important metal rich region in BC host to numerous world class gold, silver and copper deposits that are headed for production. It is extremely encouraging that diligent work by our geologists has lead to the recognition of a new untested target in this metal rich camp."
Ms. Linda Dandy, P.Geo., Director has considerable experience in the Golden Triangle area and will supervise this work program. Ms. Dandy is Apex's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects".
For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
This release was prepared by Apex's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com.