Quadro Announces The Staking Of Claims In New Precious Metals Discovery Area Of Northern Newfoundland, Appoints Director And Issues Stock Options
Vancouver, B.C. January 18, 2018. Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV:QRO) announces that it has acquired by staking two claim blocks in the St. Anthony area on the Northern Peninsula, Newfoundland. The two blocks (Pistolet and Cape Rouge) total 122 claim units (30.5 sq km) and cover a portion of graphitic black argillaceous shale unit which is analogous to the geology which hosts White Metals Resources Corp.’s new gold discoveries (see TSXV:WHM press release dated Nov. 20, 2017). The Quadro claims were identified for staking based on the favorable geology and coincident Ag-in-lake sediment anomalies. White Metals Resources’ recent discoveries consist of highly anomalous gold within pyritic black shales found over a 15 sq. km area and this has led to significant additional staking by White Metals Resources and by other resource companies. The area could be a significant discovery in a unique environment and which may be analogous to large gold deposits hosted in black shales in other parts of the world, such as those in the Kalgoorlie area of Australia.
Wayne Reid, P. Geo., VP Exploration for Quadro and a qualified person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.
The Company is also pleased to announce the appointment to the Board of Directors of Mr. Nelson Baker. Mr. Baker, P.Eng., has been active in the mineral exploration industry for many years. He received his Mining Technology Diploma (1964) at the Haileybury School of Mines, in Ontario followed by a B.Sc. degree in Geological Engineering in 1968 from the South Dakota School of Mines, in Rapid City, South Dakota. Mr. Baker has been the President and CEO of Mineral Mountain Resources Ltd. since July 2010 (TSXV:MMV). Over the years he has served on several boards particularly in the junior resource sector. He was one of the founding principles of Rainy River Resources Ltd., and served as a director, President and CEO Of Rainy River from March 2005 to June 2009. During that period, he and his team successfully expanded the Rainy River gold deposit from 450,000 ounces to 5 million ounces of gold.
The Company announces the resignation of Tim Henneberry as a director of the Company effective immediately. The Company thanks Mr. Henneberry for his years of service and wishes him every success in his future endeavors.
The Company also announces that, subject to regulatory approval, it has issued 1,950,000 stock options to directors, officers, and consultants.
About Quadro Resources – Quadro is a Vancouver-based, publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in North America. Quadro has 27,427,094 shares outstanding. The
Company’s shares trade on the TSX Venture Exchange under the symbol “QRO”. Quadro owns a 100% interest in the Staghorn property in Newfoundland.
ON BEHALF OF THE BOARD OF DIRECTORS
“T. Barry Coughlan”
President and CEO
"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." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward- looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward- looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.