GFG Receives C$200,000 Grant from the Ontario Junior Exploration Program
Under the terms of the program, GFG has received C$200,000 in matching funds to offset eligible exploration expenditures, including drilling, geophysical surveys, and base-of-till sampling.
'We are grateful to the Ontario government and the Ministry of Energy and Mines for supporting grassroots exploration,' said Brian Skanderbeg, President and CEO of GFG. 'This funding strengthens our ability to advance exploration programs and supports our goal of discovering new mineral deposits in underexplored areas of the Timmins Gold District.'
'Ontario is proud to stand shoulder to shoulder with innovative companies like GFG Resources Inc. that are pushing the frontiers of discovery in our province's world-class mining sector,' said Stephen Lecce, Minister of Energy and Mines. 'Becoming a world leader in mineral development depends on a thriving exploration industry. Through OJEP, we are sending a clear message: Ontario is open for exploration. This investment will unlock the critical resources that will power the economy of tomorrow and secure Ontario's leadership in the global mining industry for generations to come.'
About GFG Resources Inc.
GFG is a publicly traded precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions. The Company operates three gold projects that cover over 800 square kilometres within the world-class gold district of Timmins, Ontario, Canada. The projects have both brownfield and greenfield targets that share similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold.
Stay Connected with Us
X (Twitter): @GFGResources
LinkedIn: https://www.linkedin.com/company/gfgresources/
Facebook: https://www.facebook.com/GFGResourcesInc/
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute 'forward-looking information' within the meaning of applicable Canadian securities laws and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as 'forward-looking statements'). Forward-looking statements include, but are not limited to, the Company's future exploration plans with respect to its property interests and the timing thereof, the prospective nature of the projects, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes', or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, 'may', 'could', 'would', 'will', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects. In addition, the similarity or proximity of other gold deposits to the Company's projects is not necessary indicative of the geological setting, alteration and mineralization of the Goldarm Property, the Pen Gold Project and the Dore Gold Project.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties and the additional risks described in the Company's most recently filed annual and interim MD&A are not and should not be construed as being exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-looking statements, except as required by applicable laws.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
27 minutes ago
- CBC
STM maintenance workers say they might strike again if negotiations don't speed up
Maintenance workers with the Société de Transport de Montréal (STM) are accusing the public transit operator of dragging its feet at the negotiation table and are warning of another strike in the fall, if talks don't progress faster. Bruno Jeannotte, the president of the union representing the workers, says despite nine meetings with a Quebec-appointed mediator, the STM still hasn't presented its list of priorities. Alongside some of the 2,400 workers represented by the union, Jeannottte held a demonstration outside the STM's maintenance centre on St-Laurent Boulevard, Thursday afternoon. "If there's no change, the status quo remains until August, well you should effectively expect that we'll send strike notices to the labour tribunal," he said. The workers already went on strike for six days in June, during Grand Prix weekend, as negotiations around their collective agreement, which expired in January, reached a standstill. Quebec's labour minister named a mediator three days into the strike. Major sticking points for the union include work schedules and the STM's reliance on subcontracting. "We want to protect everything that's done internally right now. Even if it doesn't go as smoothly as we'd like, one thing is certain: When it's done internally, we have full control," said Jeannotte. Workers are also asking for a 25 per cent wage increase over five years. The STM has instead offered them an 11 per cent bump over the same period of time. Philippe Jacques, the co-executive director and spokesperson for Trajectoire Québec, a public transit advocacy group, said he struggles to understand why there's talks of another strike given the involvement of a mediator. The interruption of service in June had major impacts, and he says he's worried about the possibility of commuters going through a similar situation again. "The essential service that was offered was clearly insufficient," he said. "We had a lot of people tell us they missed work at their own expense, they missed doctor's appointments." The STM for its part says it's trusting the negotiation process and keeping course with a calendar set by the mediator. In an emailed statement, it said it considered talks are on the right track, especially since the mediator got involved. According to its CEO Marie-Claude Léonard, the STM's priorities are "very clear." She said the STM needs flexibility in its schedules due to its 24/7 operations and clauses ensuring "the right person at the right place at the right time." "We must ensure that we manage public funds responsibly. I cannot continue to increase charges, always adding more charges without having a return for my client," she said, referring to STM users. She said she could not elaborate on the substance of the discussions so far, given the mediator asked the negotiations remain confidential. Meetings have been happening at a rate of two to three times per week ever since the end of the worker's strike in June, the STM said in a statement.
CBC
27 minutes ago
- CBC
Possibility of continued tariffs 'is the reality' of U.S. talks: Sask. premier
Saskatchewan Premier Scott Moe says that a U.S.-Canada trade deal with some level of U.S. tariffs is 'the reality of dealing not just with Donald Trump, but dealing in any international trade agreement.' Moe maintains that the prime minister's goal is to have tariffs at zero or as low as possible.
CTV News
38 minutes ago
- CTV News
Ontario doubles down on September opening for Eglinton LRT despite TTC calling timeline ‘a reach'
Former interim TTC CEO Greg Percy says a September opening of the Crosstown Eglinton LRT is 'a reach.' The possibility that the long awaited Eglinton Crosstown LRT will open this September is now being considered 'a reach' by the TTC's former interim CEO. Greg Percy made the comments during a Toronto Transit Commission board meeting on Thursday in response to a question from Toronto-St. Paul's Coun. Josh Matlow. 'Is there any prospect of a full handover by September, or is there a legitimate concern that (Metrolinx) may fail to provide us a line that is ready to operationalize by September?,' Matlow asked. 'I think September is a reach,' Percy responded. 'But, this fall is plausible, and certainly by year end. There's lots and lots of stuff going on that we need to fix to open safely, and that's what we're focused on.' In April, Matlow told CP24 that he believed the LRT would open by September, and Premier Doug Ford echoed those statements in June. The Ontario Ministry of Transportation doubled down in a statement to CP24 on Thursday saying, 'In June we formally transferred operations of the line to the TTC. As we have said, we are targeting September for an opening date.' Metrolinx also pointed to a September opening in a statement on Thursday, writing, 'All civil infrastructure for the project is now complete, operator driver training is now complete and in June we formally transferred operations of the line to the TTC's command centre at Hillcrest.' 'We are currently relentlessly stress testing the system to ensure it is safe and reliable on the day it opens.' At Thursday's meeting, Percy said that the decision on opening the line falls with Metrolinx. 'It's still a Metrolinx decision,' said Percy. 'There's a number of us that are deeply involved in this and to push it over the line we're working intimately closely with Metrolinx. We're looking at still this fall to get something happening.' 'We are collaborating with the same priorities of safety and customer experience, and we won't open until it is satisfying both.' In a statement to CP24, the TTC says, 'Our CEO Mandeep Lali and Metrolinx CEO Michael Lindsay spoke last week and are committed to working together to open Line 5 as soon as it is ready for safe and reliable operations.' 'We have several phases of testing and commissioning to complete in advance of that, as has been previously outlined. The province will ultimately announce the opening date.' Construction on the Crosstown LRT began in 2011 and the nearly-$13 billion line was originally expected to be complete by 2020.
