April 27, 2021, Vancouver, British Columbia, Canada — Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G)advises it has refiled its December 31, 2020 interim financial statements following a review of the statements by the Company’s auditors. The material changes were the adjustments related to valuation of common shares and warrants issued in connection with the acquisition of 100% interest in the Company’s Freeman Creek Property (“Freeman Creek”) located in Idaho, USA. Readers are encouraged to review the restated financial statements and MD&A, or to contact the Company for details.
Please refer to the amended and restated financial statements as refiled on SEDAR and available for review.
The adjustments resulting from the interim review are explained as follows:
- Adjusted valuation of 2,000,000 common shares issued on August 12, 2020 in connection with an acquisition of 100% interest in Freeman Creek. As a result of this adjustment, the Company’s exploration and evaluation property increased by $167,500 and share capital increased by the same amount.
- Recorded the value of 1,000,000 share purchase warrants granted on August 12, 2020 in connection with an acquisition of 100% interest in Freeman Creek. As a result of this adjustment, the Company’s exploration and evaluation property increased by $140,756 and reserves increased by the same amount.
About Freeman Creek
Freeman Creek consists of 76 claims covering approximately 599 hectares (1,481 acres) and is located approximately 15 km northwest of Salmon, Idaho, accessible via paved highway and a network of gravel roads and trails. Freeman Creek hosts two major advanced targets; the Gold Dyke Prospect located in the west, and the historical Carmen Creek Mine Prospect, located in the northeast.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium. The Company has two flagship assets; the Freeman Creek Property, located in Idaho, USA, and the Corvette-FCI Property, located in the James Bay Region of Quebec, Canada.
The Freeman Creek Property hosts two major advanced targets; the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
The Corvette-FCI Property includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc. The claim blocks are contiguous, and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, CEO and Director at Tel: 778-945-2950, E-mail: adrian@gaiametalscorp.com or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
“ADRIAN LAMOUREUX”
Adrian Lamoureux, CEO & Director
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 news release.
