Pivit Exploration Inc. Acquires Three Additional Claim Blocks Adjoining Sokoman’s Moosehead Gold Project, Newfoundland
Vancouver - Pivit Exploration Inc. (CSE: PIVT) (the "Company" or "Pivit") is pleased to announce that the Company has acquired three additional claim blocks adjoining the eastern boundary of Sokoman Iron Corp.’s (TSX: SIC.V) Moosehead Gold Project in Newfoundland. Sokoman recently reported a drill core intersection of 44.96 grams per tonne (g/t) Au over 11.9 metres (see Sokoman news release dated July 24th, 2018). The newly acquired claims adjoin Sokoman’s Moosehead Project and connect Pivit’s recently announced claim acquisition (see new release dated July 31, 2018). Pivit President Mike England states, "We have established a prospective corridor of claims adjoining Sokoman’s Moosehead Project which are located within a regional magnetic low that is interpreted as a potential gold-bearing structural trend.”
An updated claim map is available for viewing on the Company’s website located at http://pivitx.com/pages/projects/moosehead/PIVT-Moosehead-East.pdf.
Under the terms of the Agreement, Pivit has agreed to purchase a 100% interest in the Moosehead East claims by paying a cumulative total of $17,000 cash and issuing 800,000 shares to 3 arms-length vendors. A 2% NSR has been granted to the vendors as well, of which Pivit can purchase 1% back for $1,000,000 at any time.
The technical contents of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 Technical Report.
About Pivit
Pivit is engaged in the business of mineral exploration and the acquisition of mineral properties for the benefit of its stakeholders.
On Behalf of the Board of Directors
Michael England
Chief Executive Officer, President and 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 release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Source: Pivit Exploration Inc. (CSE:PIVT)