- New name reflects broader focus
- Trading symbol remains unchanged
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2023) - Mountain Boy Minerals Ltd. (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9UA) ("Mountain Boy" or "MTB" or the "Company") is pleased to announce that effective March 30th, 2023 Thursday, it is changing the Company's name to MTB Metals Corp. (the "Name Change") to better reflect the Company's status as a metal explorer with multiple projects encompassing copper, gold, silver and other metals.
As of the market open on March 30th, 2023, the Company's common shares (the "Common Shares") will commence trading on the TSX Venture Exchange (the "TSXV"), the OTC Venture Market (OTCQB: MBYMF) and the Boerse Frankfurt Market (M9UA) under the new name, with trading symbols remaining unchanged.
Lawrence Roulston, MTB CEO commented: "The new name and revitalized identity reflects our commitment to large-scale metal discoveries on our multiple projects in the prolific Golden Triangle. Our intent is to advance several projects with support from joint venture partners while our primary focus is the Telegraph copper-gold porphyry project, with drilling planned for this summer."
On March 30th, 2023, the Company's newly launched website can be found at www.mtb-metals.com which includes an updated corporate presentation.
The Name Change does not affect the rights of the Company's shareholders. There is no consolidation of capital associated with the Name Change. Shareholders will not be required to take any action in connection with the Name Change. Issued certificates representing Common Shares will not be affected by the Name Change and will not need to be exchanged. The Company encourages shareholders to contact their broker with any questions regarding the Name Change. The Company's new CUSIP will be 55377Y104 and the new ISIN will be CA55377Y1043.
MTB has six active projects spanning 670 square kilometres (67,587 hectares) in the prolific Golden Triangle of northern British Columbia. With the focus on the Telegraph project, discussions are now underway leading to joint ventures and/or spinouts of other projects.
Telegraph is located in the vicinity of 4 world-class porphyry deposits being advanced by major mining companies: Galore (Teck / Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newcrest / Imperial Metals). Field work by MTB on its 310 square kilometre property, together with earlier results, provides compelling evidence for the presence of one or more porphyrys similar to others in the area.
The American Creek project is centered on the historic Mountain Boy silver mine. The project is road accessible and 20 km from the deep-water port of Stewart. There are multiple silver, gold and copper occurrences on the property, including a 2006 drill hole that encountered 5 kgs of silver over 5 metres.
Red Cliff is a past producing gold and copper mine in which the Company holds a 35% interest.
On the BA property, 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Several targets with high-grade silver potential remain to be tested. Surprise Creek, to the north, hosts the same prospective stratigraphy.
On the Theia project, work by MTB and previous explorers has outlined a silver bearing mineralized trend 500 metres long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton). Two other zones on the property produced copper values over 5%.
Southmore is in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s and was overlooked until MTB consolidated the property and carried out airborne geophysics and field work which confirmed several zones of gold and copper, with values up to 20% copper and 35 g/t gold.
On behalf of the Board of Directors:
President & CEO
For further information, contact:
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159831