Category: news releases

MONTREAL, June 10, 2020. Tarku Resources Ltd (TSX-V: TKU) (the “Company” or “Tarku”) announces that it intends to issue an aggregate of 1,400,468 common shares in settlement of debts in an aggregate amount of $86,128.73. The debts resulted from exploration services ($75,628.13) and conference services ($10,500) provided by two creditors of Tarku (the "Debt Settlement") from February 2019 to April 2019.

The common shares to be issued pursuant to the exploration services Debt Settlement will be issued at a deemed price of $0.06 per share; The common shares to be issued pursuant to the conference services Debt Settlement will be issued at a deemed price of $0.075 per share and all common shares will be subject to a four-month hold period pursuant to applicable securities legislation and the policies of the TSX Venture Exchange.

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration, Balmoral Resources and Probe Metals.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku has 14,595,113 outstanding shares, of which approximately 80% are owned by insiders and major shareholders. Management is currently reviewing several opportunities and projects to build up the Company portfolio and generate shareholder value.

For more information, please visit the Company’s web site or contact:

Julien Davy
President & CEO
+1 (514) 618-7287
- www.tarkuresources.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

MONTREAL, April 24, 2020. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") announces the signing of agreements concerning the issuance of shares in payment of debts of Tarku owed to two directors and officers. Tarku has received the conditional approval of the TSX Venture Exchange with respect to such insurance and plans, subject to the shareholder approval at the AGM, to issue a total of 2,879,916 common shares, at a price of $0.069 per share.

Tarku plans to issue such common shares in order to conserve its funds. Shares to be issued will be subject to a hold period of four (4) months and one (1) day, and once the transaction is completed, Tarku will have repaid most of its debts to these directors and officers.

AGM

The Company announces changes to its planned Annual and Special Meeting of Shareholders with respect to the COVID 19 pandemic. In complying with government guidelines, the Annual and Special Meeting of Shareholders scheduled to take place on May 15, 2020, has been moved to May 25, 2020 at 11:00 am and will only take place by phone to ensure the health and safety of all participants. The record date of April 9, 2020 remains unchanged and all information will be contained in the meeting materials that will be send to shareholders on April 30, 2020.

Changes to the Board

The Board of Directors of Tarku also announce the resignation of Michael Collins from the Board of Directors. The Board wishes him well in his future endeavours.

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration, Balmoral Resources and Probe Metals.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku has 11,715,197 outstanding shares, of which approximately 70% are owned by insiders and major shareholders. Management is currently reviewing several opportunities and projects to build up the Company portfolio and generate shareholder value.

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO

+1 (514) 618-7287

- www.tarkuresources.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

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MONTREAL, February 3, 2020. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") announces a 6.5 to 1 share consolidation and a non-brokered private placement of up to 9,333,334 units (the “Units”) priced, on a post-consolidated basis, at $0.075 per Unit for gross proceeds of up to $700,000 (the “Offering”).

Private placement

The Units will consist of one common share of the Company and one common share purchase warrant (each whole warrant, a “Warrant”). The Warrants are exercisable for a period of 24 months from closing at a post-consolidated exercise price of $0.10. The private placement includes a lead of $300,000 up to a maximum of $500,000 by strategic investor Crest Resources Inc. (“Crest”). As a result, Crest will become one of the largest shareholders of the company. Crest is a publicly traded company that, amongst other activities, invests in mineral exploration companies.

Share Consolidation

The Board of Directors of Tarku believes that further equity financing is required in order for the Company to finance its current working capital requirements and for future business purposes. The Board of Directors believes a share consolidation of common shares of the Company on the basis of 6.5 old shares of Tarku for 1 new share of Tarku will achieve such objectives. The consolidation will be effective on or around February 7, 2020, upon receipt of all the customary regulatory approvals.

Tarku’s shares will continue to trade under the symbol TKU. The new CUSIP number for the consolidated shares is 87618P204 and the new ISIN number is CA87618P2044. As a result of the share consolidation, Tarku will have about 11,715,197 common shares issued and outstanding. The Company’s outstanding warrants will also be adjusted on the same basis (1 new for 6.5 old) as the common shares, with proportionate adjustments being made to exercise prices. In the case of a fully subscribed financing, Tarku will have a total of about 21,048,531 common shares issued and outstanding.

Shareholders who hold their shares through a securities broker or dealer, bank or trust company will not be required to take any measures with respect to the share consolidation. Tarku’s transfer agent, Computershare Investor Services Inc., has mailed a letter of transmittal to all registered shareholders, who will be required to return their certificates representing pre-consolidated common shares and a completed letter of transmittal to Computershare. Any registered shareholder who submits a duly completed letter of transmittal to Computershare along with pre-consolidated share certificates will receive in return a post-consolidated share certificate or Direct Registration Advice (“DRA”).  Additional copies of the letter of transmittal can be obtained by contacting Computershare at 1-800-564-6253 or by e-mail at .

Changes to the Board

The Board of Directors of Tarku also announce the appointment of Michael Collins to the Board of Directors, effective immediately. Concurrent with Mr. Collins appointment, the Board of Directors has accepted the resignation of Mr. Barry Chappell, who has served the Company as a founding board member for over 9 years. The Board wishes to thank Mr. Chappell for his service to the Company and its shareholders and wish him well in his future endeavours.

Michael Collins has worked as an officer and director of public companies since 2004 as well as being employed as a professional geologist and running a mining engineering office for five years. Michael has worked to develop mining and exploration projects around the world, recently identifying and building the model for Prime Mining’s acquisition and $8.5 million financing for the Los Reyes gold project. Mr. Collins has a unique skill set drive by work experience in a range of setting from rural developing to high tech development and application. Michael was also a senior team member on Canadian Royalties Inc. drill program for 2 years in Québec. Michael is Director, President and CEO of Crest Resources Inc and Volatus Capital Corp., Vancouver based companies listed on the Canadian Securities Exchange under the symbol CRES and VC.

Julien Davy, president & CEO of Tarku, stated: "I first would like to personally thank Barry, one of the Founder of the company for its excellent support and contribution over the past 9 years. We would like to extend a warm welcome Mr. Collins to the Tarku Board of Directors. His strong experiences and relationships gained during his career make him a valuable addition to our existing Board. Crest Resources has identified Tarku as a key player in the highly prospective Matagami camp and we appreciate this recognition and support in this period of rising gold and base metals prices and renewed interest in gold and base metals exploration.”

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration, Balmoral Resources and Probe Metals.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku owns, amongst others, 100% over 220 claims (12,033 ha) adjacent and along regional gold-bearing trends with strong similarities with world class Detour Gold Mine with barely drill tested.

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO
+1 (514) 618-7287
- www.tarkuresources.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

Download PDF version   |   View all documents on Sedar

MONTREAL, June 06, 2019 - Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") is pleased to provide an update on its exploration activities on its wholly owned Admiral Project, in the Matagami area, Eeyou Istchee James Bay, Quebec (see figure 1). Despite the fact that the samples did not return any economic gold results, the 5 drill holes demonstrated the presence of numerous elements consistent with the orogenic gold exploration model associated with alkaline rocks and porphyry intrusions (syenite-associated type). Next step will be to prospect other high potential gold targets on the Admiral and Apollo projects along the auriferous corridor that Tarku interprets as the extension of the Sunday Lake regional structure (see April 10, 2019 press release).

The objective of the drilling program was to test and understand the geological context of the eastern portion of the Admiral project along a 1 to 1.5 km wide corridor identified by Tarku’s previous high-resolution geophysical survey and data compilations (see November 29, 2018 press release). The structural corridor that contains the Lac Olga Ouest gold showing (5.9 g/t Au, grab sample, GM 49140) is a favourable setting for orogenic gold mineralization associated with alkaline rocks and porphyry intrusions (Figure 1).

A total of 796 meters was completed in 5 drill holes. Most of the holes intersected brittle-ductile faults zones injected by "syenitic and monzonitic" dykes. Albite-iron carbonate-hematite alterations with tourmaline-quartz-pyrite veinlets were notably observed in drill hole AD-19-03. The results allow the correlation of the anomalous presence of gold traces in association with syenitic dykes with albite-iron carbonate-hematite alteration. The summary of the surveys was presented in the March 26, 2019 press release (available at www.tarkuresources.com and www.sedar.com)

About the Admiral project

The Admiral project is part of  3 projects wholly owned by Tarku in the Matagami area (Admiral, Apollo and Atlas) totaling 224 mining titles centered on regional faults including ductile shear of the Waswanipi River (RWSZ), a favourable setting for orogenic gold mineralization associated with alkaline rocks and porphyry intrusions. Tarku interprets this geological context as being similar to the Sunday Lake regional fault, host of the Detour Lake Mine or the Kirkland Lake Mining Camp.

The Admiral project is located west of Lake Olga and consists of 30 claims (1,667 ha) overlying the convergence of the Rivière Waswanipi (RWSZ) and Lac Olga (LOSZ) shear zones. The LOSZ contains the Lac Olga Ouest gold showing (5.9 g/t Au, grab sample, GM 49140) and Goldcorp’s high-grade deposit Indice Principal zone Olga located 10 km southeast of Admiral (14.75 g/t Au, 1.14% Cu and 10.3 g/t Ag over 1.50 m, GM 50632) (see www.tarkuresources.com).

Tarku’s management believes that the gold potential of the Matagami sector has been undervalued and uses today modern geological models and exploration techniques to aid in the discovery of gold mineralization. Tarku cautions that the mineralization at the Detour Lake mine or the Kirkland Lake mining Camp may not be indicative of the mineralization that may be identified on the Company’s Matagami projects and is used as a conceptual exploration model only.

Benoit Lafrance, P.Geo., PhD, Exploration Manager and Director of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the technical information in this news release.

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on generating sustainable projects for precious, base and strategic metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers. Tarku has 76,148,797 outstanding shares, of which approximately 70% are owned by insiders and major shareholders. Management is currently reviewing several opportunities and projects to build up the Company portfolio and generate shareholder value.

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO
+1 (514) 618-7287

www.tarkuresources.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

Download PDF version   |   View all documents on Sedar

MONTREAL, April 10, 2019. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") is pleased to provide an update and new interpretations of its wholly owned Apollo Project, in the Matagami area, Eeyou Istchee James Bay, Quebec. Specifically, a 271 line-km geophysical High-resolution magnetic survey was completed along the 6 km wide favourable zone along the regional Rivière Waswanipi shear zone (see press release dated January 31, 2019). Along with Tarku’s recent till sampling program and historical data compilation, the Company reaffirms the strong gold mineralization similarities with the geological context found at the Detour Lake Mine and the Kirkland Lake Mining Camp.

Highlights of the 2019 Magnetic Survey:

• Magnetic data shows historical Au values associated with porphyritic and alkaline rocks in historical drill holes are mostly located at the edge of magnetic highs and none of the drill holes directly intersected high magnetic anomalies (see figure 1).
• A correlation between magnetic highs and gold mineralization is interpreted as the nearest Au value to magnetic highs is also the highest Au results on Apollo to date, the Rivière Waswanipi gold showing (2.36 g/t Au over 1 m).
• Several newly discovered large elongated km-wide magnetic highs are interpreted to be syn-deformation alkaline buried dykes swarms or stock intrusions (see zones [1] and [2] on figure 1).
• Major NE-SW cross-cutting faults has been interpreted as offsetting other older structures and rocks within the Rivière Waswanipi shear zone (see zones [3] on figure 1).
• A new interpretation of the survey data has generated many high-priority drill targets focusing on structural intersections, interpreted intrusions and historic untested geophysical anomalies.

Julien Davy, President and CEO of Tarku, stated: "This magnetic survey strengthens our understanding of the source of the gold in the area. All historical drillholes were further to the South of the Rivière Waswanipi Shear Zone as the gold potential related to porphyritic and alkaline rocks similar to the Detour Mine and the location of that regional fault wasn’t understood as it is today. Tarku’s approach today is based on modern and proven models and the Mag survey results give us more confident in our model and opens door for new Gold targets related to intrusions on our Apollo projects”.

Figure 1

High Magnetic Survey

In January 2019, Tarku completed a 271 line-km high-resolution helicopter-borne magnetic survey over the main targeted areas of the Apollo and Atlas projects. Flight lines were surveyed at a 100-metre spacing and was conducted by Prospectair (Gatineau, Quebec) and Dynamic Discovery Geoscience (Ottawa, Ontario) to aid interpretations of the mineralized systems and identify new gold targets within the recently define 6 km wide favourable zone.

As previously described, Tarku’s 2017 till sampling program identified a 6 km wide favourable zone along the regional Rivière Waswanipi shear zone (RWSZ) that may be the source of the gold grains sampled (see press release dated February 28, 2018).

About the Apollo project

The Apollo Project, 100% owned by Tarku, is adjacent to the north of its also 100% owned Atlas Project. It consists of 97 claims (5,056 ha) centred on the Rivière Waswanipi ductile shear zone. This regional structure is characterized by the presence of alkaline rocks, polygenic conglomerates (Timiskaming type) and porphyry intrusions bearing anomalous gold values on the order of hundreds of parts per billion (GM 52712). This corridor, altered to carbonate-hematite-magnetite, contains the Rivière Waswanipi gold showing (2.36 g/t Au over 1 m; GM 51193) hosted in a porphyritic dyke and tuffs altered to pyrite-fuchsite as well as several porphyry intrusions bearing anomalous gold values on the order of 0.1 to 0.9 g/t Au over 0.6 to 5 m (GM 52712).

Collectively, these metallotects present a favourable setting for orogenic gold mineralization associated with alkaline rocks and porphyry intrusions, which Tarku interprets as being similar to those of the regional Sunday Lake Fault, host of the Detour Lake mine or the Kirkland Lake Mining Camp. Tarku cautions that the mineralization at the Detour Lake mine or the Kirkland Lake mining Camp may not be indicative of the mineralization that may be identified on the Company’s Matagami projects and is used as a conceptual exploration model only.

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on generating sustainable projects for precious, base and strategic metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers. Tarku has 76,148,797 outstanding shares, of which approximately 70% are owned by insiders and major shareholders.

Benoit Lafrance, P.Geo., PhD, Exploration Manager and Director of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the technical information in this news release.

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO
+1 (514) 618-7287

www.tarkuresources.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

MONTREAL, February 26, 2019. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") an exploration company focused on the discovery and exploration of, precious, base and strategic metal projects in the mineral-rich Canadian landscape, will be presenting at the 2nd Annual RAISE at the PDAC: One-to-One Resource Investment Conference in Toronto, ON.  Tarku will be in Meeting Area #4 meeting investors & brokers for back-to-back meetings; investors & brokers can register online here https://raisepdac.eventbrite.ca

RAISE at the PDAC: One-to-One Resource Investment Conference

Thursday, February 28 | One King West Hotel | Toronto

RAISE at the PDAC is an EXCLUSIVE event for investors & finance individuals who INVEST in resource stocks.  A unique conference format where investors and finance individuals meet one-on-one with companies throughout the day in a series of meetings, social breaks & presentations.  The conference is free for Investors, Investment Advisors, Portfolio Managers and Funds. https://raisepdac.eventbrite.ca

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on generating sustainable projects for precious, base and strategic metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers. Tarku has 74,648,797 outstanding shares, of which approximately 70% are owned by insiders and major shareholders.

For more information, please visit the Company’s web site or contact:

Tarku Resources Ltd. Contact
Julien Davy, President & CEO
+1 (514) 618-7287

www.tarkuresources.com

RAISE at the PDAC Contact:
Neil Lock, CEO
1-604-380-4888

www.raiseconference.com

Neither 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.

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MONTREAL, February 22, 2019. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") is pleased to announce the commencement of its previously announced drill campaign at its wholly owned Admiral project in the Matagami area, Eeyou Istchee James Bay, Quebec (see press release dated January 31, 2019). A diamond drill is presently mobilized on site and the program is ongoing.

Julien Davy, President and CEO of Tarku, stated: "The start of this first exploration drilling program on Admiral is a milestone for the Company as we believe the targeted regional structure that covers both the Admiral and Apollo projects are prospective undrilled gold targets in the Matagami area. We are really encouraged by the gold potential of that sector”.

The objective of the drilling program is to evaluate select targets along a 1 to 1.5 km wide corridor identified by Tarku’s previous high-resolution geophysical survey and data compilations and that contains the Lac Olga Ouest gold showing located on the Admiral project (5.9 g/t Au, grab sample, GM 49140). The structural corridor is a favourable setting for orogenic gold mineralization associated with alkaline rocks and porphyry intrusions (Figure 1).

About the Admiral project

The Admiral project is located west of Lake Olga and consists of 30 claims (1,667 ha) overlying the convergence of the Rivière Waswanipi (RWSZ) and Lac Olga (LOSZ) shear zones. The LOSZ contains the Lac Olga Ouest gold showing as previously mentioned and Goldcorp’s high-grade deposit Indice Principal zone Olga located 10 km southeast of Admiral (14.75 g/t Au, 1.14% Cu and 10.3 g/t Ag over 1.50 m, GM 50632) (see www.tarkuresources.com).

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on generating sustainable projects for precious, base and strategic metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers. Tarku has 74,648,797 outstanding shares, of which approximately 70% are owned by insiders and major shareholders.

Benoit Lafrance, P.Geo., PhD, Exploration Manager and Director of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the technical information in this news release.

Figure 1 : Drilling area location. The Admiral project is located at the convergence of the Rivière Waswanipi (RWSZ) and Lac Olga (LOSZ) shear zones (source Sigeom)

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO

+1 (514) 618-7287

www.tarkuresources.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.