Burlington, Ontario--(Newsfile Corp. - March 3, 2017) - Green Swan Capital Corp. (TSXV: GSW) has received stock exchange approval to expand its cobalt portfolio by acquiring "Chilton Cobalt", in the Laurentian Region of Quebec.
Chilton Cobalt consists of nine claims totaling 497 hectares (almost five sq. km.). The arm's length vendor has delivered to Green Swan all available historic data for the property, including a recently completed geological report (non NI 43-101 compliant). Green Swan will begin its historic data review and analysis as soon as possible to enable an exploration program in the summer of 2017.
Historic work at Chilton Cobalt identified four distinct cobalt-copper-nickel showings. Grab samples from one of the showings returned values up to 2,500 parts per million (ppm) cobalt, 3,300 ppm copper and 12,300 ppm nickel. Green Swan cannot verify the accuracy or thoroughness of historic work until further research and analysis is completed.
"Value is created in the field and in the boardroom", said Peter M. Clausi, Green Swan's CEO. "It's intended that part of the proceeds from Green Swan's recently announced one million dollar brokered financing will be efficiently spent at Chilton Cobalt this summer on surface exploration."
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian mineral exploration company with a proven leadership team, targeting cobalt in reliable mining jurisdictions. Green Swan is well-poised to deliver real value to its shareholders. Green Swan continues to build its impressive portfolio of assets in mining-friendly jurisdictions, including its main Sudbury asset, Dryden Cobalt, Otto Lake, Chilton Cobalt, Geneva Lake, Ryliejack and Mikayla.
Forward Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: reliance on key personnel; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; effect of market interest rates on price of securities, and potential dilution.
On Behalf of the Board of Directors
GREEN SWAN CAPITAL CORP.
"Peter M. Clausi"
Peter M. Clausi
CEO and Director
For Further Information:
Peter M. Clausi
pclausi@greenswancapital.com
1 905-681-1925
Neither 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.
