November 5, 2020 – Vancouver, Canada - Guyana Goldstrike Inc. (the “Company” or “Goldstrike”) (TSXV: GYA, OTC: GYNAF) is pleased to announce that the Company has signed a letter of intent (“LOI”) to review a portfolio of precious metals properties located in the Golden Triangle (Stewart, British Columbia) held by Granby Gold Ltd. (“Granby”), an arms-length private company.
Under the LOI, the Company intends to conduct a due diligence review of the three properties in consideration of a potential acquisition of one or more of the properties. At this time, no terms have been agreed to by the parties and completion of any transaction with Granby is subject to satisfactory due diligence and any required regulatory and third-party approvals.
A brief description of each property follows:
Alice Arm North
The Alice Arm North silver prospect is located approximately 50 km southeast of Stewart, British Columbia.
The property comprises 16 mineral tenures, 100% owned by Granby, covering an area of approximately 842 hectares (8 sq. km). Hecla Canada Ltd. currently owns all claims that immediately surround the property.
The property is 9 km south of Dolly Varden Silver Corp’s Dolly Varden Mine and 14 km south of Fury Gold’s Homestake Ridge gold deposit.
The San Diego gold and copper prospect is located 7 km northeast of Alice Arm and approximately 55 km southeast of Stewart, British Columbia.
The property comprises 5 mineral tenures, 100% owned by Granby, covering an area of approximately 769 hectares (7 sq km).
The San Diego property lies at the southern end of a what is known as the Copper Belt, which is host to the Homestake Ridge, Vanguard and Red Point deposits.
The East Georgie polymetallic prospect is located approximately 10 km southeast of Stewart, BC. The property comprises 69 mineral tenures, 100% owned by Granby, covering an area of approximately 10,841 hectares (108 sq km).
The property lies in the southeast part of a mineral belt along the eastern flank of the Coast Mountains.
On behalf of the Board of Directors of
GUYANA GOLDSTRIKE INC.
President and Chief Executive Officer
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