September 14, 2020 – Vancouver, British Columbia – Kiplin Metals Inc. (the “Company”) (TSXV: KIP) regrets to inform that it has been unable to renegotiate acceptable terms for its option to acquire the Urban Barry Gold Project (the “Project”). The Project comprises a 1,297 hectare land package located in the Urban Barry mining district in the Province of Québec.
The Company has been in negotiations with the option holder for the past several weeks but was unable to reach terms that would allow the Company to retain an interest in the Project. As a result, the Project has been returned to the option holder.
At this time, the board of directors is reviewing a revised work plan and capital budget focusing on the Company’s remaining properties. A further update on intended work programs will be provided to shareholders as more information becomes available.
For further information, contact the Company at 604.622.1199.
On behalf of the Board,
Kiplin Metals Inc.
Peter Born, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.