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Homerun Resources Inc. — Capital/Financing Update 2021
Dec 14, 2021
43255_rns_2021-12-14_3671bdcf-f6e2-4dd6-b7dc-ca7251cc3349.pdf
Capital/Financing Update
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TSXV Symbol: HMR.H
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November 19, 2021
News Release
HOMERUN RESOURCES INC. CLOSES FT UNIT FINANCING
Vancouver, B.C.: Homerun Resources Inc. (“ Homerun ” or the “ Company ”) ( TSXV: HMR.H ) is pleased to announce that it has received approval from the TSX Venture Exchange to close its non-brokered private placement financing. The Company will now issue one million flowthrough units at 15 cents, each flow-through unit consisting of one flow-through common share of the Company and one common share purchase warrant, each warrant being exercisable for an additional common share of the Company at an exercise price of 25 cents for 12 months. The warrants are subject to the right of the Company to accelerate the exercise of the warrants if the shares of the Company trade at or above 50 cents for a period of 10 consecutive trading days. Finders' fees of 2% cash and 2% broker warrants are being paid and all securities issued are subject to a statutory four-month hold period. Proceeds raised from the financing will be used for exploration expenditures on the Company’s Homathko Project. The Homathko Project is directly south of Kingfisher Metals’ (TSXV: KFR) Goldrange Project, which is currently awaiting assays from its recently completed diamond drill program.
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SUITE 920 – 1112 WEST PENDER STREET VANCOUVER, BC, V6E 2S1
About the Homathko Gold Project
The Company executed an option agreement for the right to acquire a 100% interest in the original Homathko Gold Project claims located in the Cariboo Regional District of British Columbia. The balance of the Project has been directly staked by the Company. Mineralization on the property was first identified by Falconbridge Limited in 1966 which reported grab and trench sampling returning up to 384 g/t gold. Work completed by Transition Metals in 2010 identified a larger, lode gold system traceable at surface along 1.5 kilometres of strike length and identified grab samples of up to 87.5 g/t gold. According to Transition Metals, the mineralization is hosted within quartz-carbonate veining developed within and near the margins of a shearbounded, altered quartz-feldspar porphyry sill. Based on field observations, geologists from Transition Metals interpreted that the environment for mineralization on the property appears consistent with that of a traditional mesothermal lode gold deposit which bears many similarities to similar deposits occurring elsewhere in the Stikine belt (Pioneer/Bralorne District, Elk Gold Mine etc.). The Homathko Gold Project has never been drill tested. **(1,2,3) ***
Homathko Project Highlights:
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Grab and trench samples returning up to 384 g/t gold in 1966 **(1) ***
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Grab samples returning up to 64.5 g/t gold in 1989 (2) *
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Grab samples up to 87.5 g/t gold in 2010 by Transition Metals **(3) ***
* Note: The reader is cautioned that grab rock samples are selective by nature and may not represent the true grade or style of mineralization on the Property.
Qualified Person
The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101.
References
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(1) BC Mines Property File, Falconbridge File 184 – Report on Homathko Gold Prospect, 1965, J/J. MacDougall
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(2) BC Assessment Report #18977
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(3) BC Assessment Report #32197
On behalf of the Board of Directors of
Homerun Resources Inc.
"Brian Leeners"
Brian Leeners, CEO & Director
SUITE 920 – 1112 WEST PENDER STREET VANCOUVER, BC, V6E 2S1
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.
SUITE 920 – 1112 WEST PENDER STREET VANCOUVER, BC, V6E 2S1