Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Gold Digger Resources Inc. (CSE: GDIG) ("Gold Digger" or the "Company") announces that, further to its news releases dated March 6, 2024 and June 13, 2024, it has entered into a second amending agreement (the "Amending Agreement") to the share purchase agreement dated March 6, 2024 (the "SPA") with Premium Uranium Corporation ("PURC"), each of the shareholders of PURC, and UA92 (Pty) Ltd. ("UA92"), a wholly-owned subsidiary of PURC. The Amending Agreement extends the deadline by which the parties to the SPA must close the Acquisition (as defined below) to September 30, 2024.
Pursuant to the SPA, the Company will acquire all of the issued and outstanding shares of PURC and upon completion, PURC and UA92 will become wholly owned subsidiaries of the Company (the "Acquisition"). UA92 is the holder of a mineral property comprised of several prospecting licenses in the Republic of Botswana (the "UA92 Project").
The Company has been busy over the last few months performing the necessary legal, financial and geological diligence in respect of the Acquisition and the UA92 Project. Lorne Warner, P.Geo and a director of Gold Digger, joined a team at the UA92 Project in Botswana in May, planning for a fall exploration program. There is a large known resource adjacent to the western properties and management is excited about the prospects of the UA92 Project. However, mineralization on neighbouring properties is not necessarily indicative of mineralization on the UA92 Project.
Mr. Warner stated: "I was impressed by the size and accessibility of the project area that covers over 4,800 square kilometers. Every license overlies the favourable Karoo Supergroup sandstones unit, known to contain significant and extensive stratabound pitchblende and coffinite uranium mineralization".
Assuming completion of the Acquisition, the Company intends to explore the asset for both surface and In situ recovery potential in the coming months. In management's opinion, the team in Botswana is well-positioned to do so and very knowledgeable on uranium and Botswana mining legislation.
For further information about the Acquisition and the UA92 Project, please refer to the Company's news release dated June 13, 2024.
Qualified Person
Lorne Warner, P.Geo and a director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Warner has reviewed and approved the technical information disclosed in this news release.
About Gold Digger Resources Inc.
Gold Digger Resources Inc. is an early-stage mineral resource exploration company. The Company's material property is currently the Regnault Project, consisting of 71 contiguous mineral claims covering an area of approximately 3,678 Ha located north-northeast of Chibougamau in the Province of Québec.
CONTACT INFORMATION
Gold Digger Resources Inc.
Allan Bezanson, Chief Executive Officer and President
Email: allanbezanson@outlook.com
Telephone: (416) 427-4505
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating to the closing of the Acquisition, the proposed exploration program at the UA92 Project and the timing thereof, and other matters. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the proposed Acquisition, exploration program on the UA92 Project or related matters will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the parties will be able to obtain the requisite regulatory, board, shareholder and third party approvals and satisfy the other conditions to the consummation of the Acquisition on the proposed schedule and terms and conditions set out in the SPA; that the SPA will not be terminated prior to the closing the Acquisition; that the Acquisition will be completed in accordance with the terms and conditions of the SPA and within the timeframe expected; that no unanticipated events will occur that will delay or prevent the completion of the Acquisition; that the Company will be able to undertake the proposed exploration program as anticipated and on the expected timeline; and that the UA92 Project will be prospective for minerals as anticipated.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to complete the Acquisition as currently proposed or at all, the ability of the Company to complete its planned future activities and anticipated business plans, including completion of the proposed exploration program on the UA92 Project in the fall of 2024, the ability of the Company to obtain sufficient financing to fund its business activities and plans, and the Company's ability to obtain the applicable regulatory, corporate, third party and shareholder approvals of the Acquisition. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, risks relating to market conditions, metal prices, changes in the financial markets and changes in laws, regulations and policies affecting the Company's operations and the Company's limited operating history. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217976
SOURCE: Gold Digger Resources Inc.
