Kingsview Minerals Acquires Vernon Property
June 02, 2025 4:30 PM EDT | Source: Kingsview Minerals Ltd.
Toronto, Ontario--(Newsfile Corp. - June 2, 2025) - Kingsview Minerals Ltd. (CSE: KVM) (FSE: 0L40) (the "Company" or "Kingsview") is excited to announce the acquisition of the Vernon property located in southeastern New Brunswick. The Vernon Mine, which historically produced copper in the 1860s, represents a significant unexplored opportunity for gold mineralization.
The property, situated along the Bay of Fundy just west of Fundy National Park and approximately 50 km southeast of Sussex, has a rich history of mining activity. Although historical assessments reported impressive gold grades of up to 4 oz/ton Au in the Peacock Vein, no gold production was reported during its operational years from 1864 to 1865 (New Brunswick Mineral Report of Work 473635. The Report can be downloaded at https://dnr-mrn.gnb.ca/ParisWeb/AssessmentReportDetails.aspx).
More recent mineral exploration has revealed key indicators of potential gold mineralization, including structural faulting, quartz-carbonate veining, and sericite alteration. Notably, gold was identified through assay in pyrite-sericite schists at the intersection of two structural trends associated with copper- and silver-bearing quartz-carbonate veins.
Key findings noted in New Brunswick Mineral Report of Work 473635 include:
Numerous reports of anomalous gold and copper values from surface grab samples; notably immediately adjacent the historical Vernon Mine adit and the Peacock vein as well as a gold-copper occurrence approximately 900 metres from the Peacock vein.
Historic silt and soil sampling identified gold anomalies both associated with known mineral showings and ones where the source of the anomaly had not been identified.
Kingsview Minerals is committed to further exploration and development of the Vernon property, aiming to unlock its significant gold potential.
Terms of the Acquisition
On April 25, 2025, the Company announced its intention to acquire the property in an arm's length transaction via Definitive Agreement. As consideration for the Proposed Transaction, the Company issued 3,000,000 common shares in the capital the Company (the "Common Shares"), at a deemed issuance price of $0.12 per Common Share, equal to CAD$360,000. The acquisition was completed by way of a three-way amalgamation, whereby the company owning the property was amalgamated with a newly incorporated wholly owned subsidiary of the Kingsview. Completion of the Transaction was subject to customary conditions including but not limited to: receipt of all required consents; and the approval of the Proposed Transaction by the CSE. The owners of property now hold 44% of the common shares in Kingsview. No changes to management were made and no finders' fees were paid.
Qualified Persons Review
The technical and scientific information contained within this news release have been reviewed and approved by Mr. David Benson P.Geo a Qualified Person ("QP") as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Benson has over 20 years' experience evaluating historical mine and grassroots base and precious metals projects across Canada. Both the Company and QP caution the reader that the technical and scientific information used in this press release was gathered through literature review of historical Mineral Reports of Work on the Property submitted by previous operators to the government of New Brunswick. The Company plans to verify the historical scientific and technical information, where applicable, during future exploration campaigns. The Company and QP caution the reader that the scientific and technical information presented in this press release may not be representative of future scientific and technical results.
About Kingsview Minerals Ltd.
Kingsview is a mineral exploration company focused on gold and base metal exploration. Learn more: http://www.kingsviewminerals.ca/.
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. All statements other than statements of present or historical fact are forward-looking statements and include but are not limited to statements regarding the potential that the projects will yield any precious metals in future exploration programs and the Company's ability to advance its properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include the Company's ability to implement a drill program on the projects, that the Company will have sufficient funds available to it and that the Company will continue to be able to retain skilled personnel. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets; there being no assurance that any future exploration program on the projects will result in mineral resources; the inability of the Company to raise sufficient funds and/or retain necessary personnel to conduct its operations; the impact on the business, operations and financial condition of the Company resulting from the announcement of the purchase of the projects; the impact that the recovery post COVID-19 may have on precious metals; failure to realize the anticipated benefits of the transaction described in this press release; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and any risks associated with the ongoing COVID-19 pandemic.
You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company's SEDAR profile page at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
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