U.S. Markets closed

Black Tusk Resources Inc. Enters into Agreement to Acquire South Rim Project in British Columbia

VANCOUVER, BC / ACCESSWIRE / January 13, 2020 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (TUSK.CN)(OTC PINK:BTKRF)(0NB.F) is pleased to announce that it has entered into an agreement to acquire Chalice Gold Exploration Corp., the 100% owner of the South Rim Project (the "Property") located in central British Columbia. The Property is subject to a 2% net smelter royalty.

The acquisition of the property is to be completed via share purchase agreement between the Company, Chalice Gold Exploration Corp., and its shareholders. The Company is required to issue 10,000,000 common shares to the shareholders of Chalice in exchange for 100% of the common shares of Chalice.

"We are extremely excited to expand the Company's portfolio of properties with this acquisition", said Richard Penn, CEO of the Company.

Forward-Looking Information

This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to obtaining regulatory approvals including that of the Canadian Securities Exchange, exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

On behalf of the Board of Directors

Richard Penn
CEO
(778) 384-8923

SOURCE: Black Tusk Resources Inc.



View source version on accesswire.com:
https://www.accesswire.com/572934/Black-Tusk-Resources-Inc-Enters-into-Agreement-to-Acquire-South-Rim-Project-in-British-Columbia