Bullfrog Gold Corp. (OTCQB: BFGC) Breaking News -
May 24, 2017
Bullfrog Gold Raises $816,000 of Equity to
Advance Its Nevada Gold Project
GRAND JUNCTION, CO -- (PRNewswire) -- May 24, 2017 -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") is pleased to announce the initial closing of a
non-brokered US $816,000 private placement of equity. These subscriptions were
priced at $0.08 per unit, which consists of one share of the Company’s common or
preferred stock and a two-year warrant to purchase a full share at an exercise
price of $0.15. The lead purchaser in the amount of $540,000 was Eros Resources
Corp., a TSXV company led by Ron Stewart, President and CEO and Ron Netolitzky,
Chairman. A final closing of additional subscriptions is anticipated on May 31,
2017.
Proceeds will mainly be used for advancing the Bullfrog Gold Project (“Project”)
under programs described below and general corporate purposes.
- Complete an independent resource estimate before mid-June 2017 followed by a
technical report before the end of July 2017, all compliant with Canadian 43-101
standards and US SEC Guideline 7. This work was initiated in mid-March 2017 by
the Golden, Colorado office of TetraTech, a recognized global provider of
engineering, technical and construction management services with particular
expertise in the mining sector.
- Initiate by August 2017 and complete by year end an independent preliminary
economic analysis.
- Update the environmental baseline and project engineering sufficient to obtain
a Plan of Operations from the US Bureau of Land Management along with other
regulatory requirements. Such approvals will permit comprehensive drilling and
other site programs to begin in 2018 and extend through the project development
period.
- Confirm or re-establish the field survey control systems used by Barrick
Bullfrog Inc.
Research existing water rights in the area and pursue adjudications as
appropriate.
Mining claim maintenance fees and property acquisition payments.
About Bullfrog Gold Corp. - Bullfrog Gold Corp. is a Delaware corporation that
controls the Bullfrog Gold Project located 120 miles NW of Las Vegas Nevada.
Barrick produced 2.3 million ounces of gold, mainly on Project lands from 1989
into early 1999. The Company’s lands have significant exploration potential and
are currently estimated by management to contain 470,000 ounces of heap
leachable mineralization averaging 0.89 grams of gold/tonne within a preliminary
open pit outline.
The Company recently expanded and perfected its digital data base after scanning
all of Barrick’s assay certificates, geologic logs and survey files on 1262
holes containing 155 miles of drilling in the Project area. This extensive
digital data base has also been independently vetted by Tetra Tech.
Cautionary Note Regarding Forward Looking Statements - This press release may
contain certain "Forward-Looking Statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein including those with respect to
the objectives, plans and strategies of the Company and those preceded by or
that include the words "believes," "expects," "given," "targets," "intends,"
"anticipates," "plans," "projects," "forecasts" or similar expressions, are
forward-looking statements that involve various risks and uncertainties. We use
certain terms in this valuation such as “mineralization” and “mineral inventory
estimates” that are not defined in Canadian National Instrument 43-101; or
recognized under the U.S. SEC Industry Guide 7. The Company is presently an
exploration stage company. Exploration is highly speculative in nature, involves
many risks, requires substantial expenditures and may not result in the
discovery of sufficient mineral deposits that can be mined profitably.
Furthermore, the Company currently has no resources or reserves on any of its
properties. As a result, there can be no assurance that such forward-looking
statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Additional
information regarding important factors that could cause actual results to
differ materially from the Company's expectations is disclosed in the Company's
documents filed from time to time with the United States Securities & Exchange
Commission.
Contact Information: David Beling, PE, President, CEO & Director, (970) 628-1670
Source: Bullfrog Gold Corp.
Metallurgical Testing and Drill Data at
Bullfrog Gold's Nevada Project
GRAND JUNCTION, CO -- (Marketwired) -- Feb 7, 2017 -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") has completed an extensive study of comprehensive
metallurgical tests and is pleased to announce results that apply directly to
the remaining mineralization around the Montgomery-Shoshone (M-S) and Bullfrog
open pit mines. The Company is also scanning Barrick Bullfrog Inc.'s paper drill
hole files that include assay certificates and other information needed to
support Canadian 43-101 compliant resource estimates and open pit expansion
plans. In addition, the Company is scheduled to deliver a public presentation on
the Bullfrog Project in Beatty, Nevada on March 13, 2017.
The Bullfrog Gold Project is located 120 miles NW of Las Vegas, Nevada and is
estimated to contain 470,000 ounces of heap leachable mineralization that
averages 0.89 g of gold/tonne within a preliminary pit outline.
Metallurgical Test Results
In 1985 St. Joe Minerals crushed to -3/4 inch a 22-ton composite sample of M-S
ore that graded 0.034 opt (1.17 g/tonne) and recovered 56% of the gold after 59
days of column leaching. A second column test recovered 49% after 59 days of
leaching, using minus 12 inch Run-of-Mine (ROM) ore grading 0.037 opt (1.26
g/t). Projected 90-day recoveries were 61% and 54% respectively. These columns
were 24 feet high and 5.5 feet in diameter and contained representative
mineralization remaining in the M-S deposit. St. Joe reported that the ROM
sample had 43% of its weight in the minus 1.5 inch fraction, which was higher
grade and yielded higher recovery than the coarser fractions. As significant
higher grade fines were reported as lost during multiple handling of the samples
and because the leach period should have been more than 90 days, St. Joe's
recoveries are deemed conservative.
In 1994, Kappes Cassiday, a metallurgical lab in Reno, Nevada, performed column
leach tests on low grade ore from the Bullfrog pit. These columns were five feet
high, 6 inches in diameter and charged with 45 kg of representative samples. A
bottle roll test was also performed on a split of this bulk sample.
Bottle Column Column
Crush Size, mesh & inch -100m -1.5" -3/8"
Calc. Gold Head, opt .029 .035 .029
g/t 0.99 1.20 0.99
Gold Recovery, % 96.6 71.4 75.9
Leach time, days 2 41 41
Cyanide, #/t .10 .77 1.07
Lime, #/t 2.0 .31 .35
In 1995, Barrick performed pilot heap leach tests on 844 tons of low grade
material from the Bullfrog pit and 805 tons of higher grade from the M-S pit.
Both samples were crushed to -1/2 inch and had the following results:
BF Low Grade * M-S Ore **
Calc. Gold Head, opt .019 .048
g/t 0.65 1.65
Projected Au Rec., % 67 74
Leach time, days 41 37
NaCn, #/t .20 .25
Lime, #/t nil nil
* This composite is deemed representative of the remaining mineralization in the
Bullfrog deposit.
** Most of this higher grade represented by this composite was subsequently
milled by Barrick.
These large pilot tests are deemed the most representative for determining
cyanide and lime consumptions, which were remarkably low. In this regard,
Barrick reported that the alkalinity in the cyanide additions were sufficient to
maintain an acceptable pH with nil lime additions. Notwithstanding, Barrick
makes no representation concerning the accuracy or use of their information by
the Company.
In summary, the M-S and Bullfrog deposits are amenable to heap leaching and can
support a mine cutoff grade of 0.2 g/t for leaching at coarse ROM sizes. The
mineralization percolates well, and cyanide and lime consumptions are each
projected at less than 0.3 pounds per ton. As the leach times in all column and
pilot tests were too short, longer term recoveries are anticipated to be higher.
Drill Data Base
The Company is in process of scanning Barrick's paper drill hole files to obtain
copies of assay certificates and update the electronic drill hole data base. In
a few weeks, the Company should have all assay and survey data on 1,311 drill
holes that contain more than 157 miles of drilling. This complete data base will
then be vetted by an independent engineering firm and resources will be
estimated in compliance with Canadian 43-101 policies. Pit plans will also be
further optimized using computer programs rather than the Company's manual cross
section estimation and pit planning methods.
Public Meeting
The Company's President & CEO is scheduled to deliver a public presentation in
Beatty, Nevada to the Beatty Town Advisory Board on March 13, 2017 at 6:30 pm.
The Company will discuss its exploration and development plans toward advancing
the Bullfrog Project and looks forward to building mutually beneficial
relationships with the Town and its citizens. Beatty has a population of 1,000
and is only 4 miles east of the Project.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein including
those with respect to the objectives, plans and strategies of the Company and
those preceded by or that include the words "believes," "expects," "given,"
"targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve various risks and
uncertainties. We use certain terms in this valuation such as "mineralization"
and "mineral inventory estimates" that are not defined in Canadian National
Instrument 43-101; or recognized under the U.S. SEC Industry Guide 7. The
Company is presently an exploration stage company. Exploration is highly
speculative in nature, involves many risks, requires substantial expenditures
and may not result in the discovery of sufficient mineral deposits that can be
mined profitably. Furthermore, the Company currently has no resources or
reserves on any of its properties. As a result, there can be no assurance that
such forward-looking statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Additional information regarding important factors that could cause
actual results to differ materially from the Company's expectations is disclosed
in the Company's documents filed from time to time with the United States
Securities & Exchange Commission.
Contact Information:
David Beling, PE,
President, CEO & Director
(970) 628-1670
Source: Bullfrog Gold Corp.
Bullfrog Gold Corp. Adds New Director and
Releases an Interview With Its CEO
GRAND JUNCTION, CO -- (Marketwired) -- Nov 29, 2016 -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") is pleased to announce it has posted a letter to
shareholders on its website www.bullfroggold.com, and that its CEO participated
with David Morgan of The Morgan Report (www.themorganreport.com) in an interview
with Stock Radio.
The shareholder letter emphasizes that the Company and its flagship Bullfrog
Gold Project are substantially stronger and more valuable than they were a year
ago, yet BFGC still remains undervalued compared to nearly all peer companies.
The audio interview provides the responses of David Morgan, a renowned
economist, report writer and author, and David Beling, a seasoned mine and
company builder. The topics of discussion are listed below:
Will Trumps cut and spend polices bring economic recovery to the US?
With 1 trillion dollars of infrastructure stimulation over the next ten years,
is this encouraging for industrial commodities and do you see this reflected in
the market, or is this a good time to take or build a position?
Bond sell-off and tax cuts will result in higher growth -- but also higher
inflation and higher amounts of U.S. government debt. Could this be the final
straw that drives investments out of equities and debt and find safety in
metals?
The interview may be heard at the following link:
https://soundcloud.com/thestockradio-com/round-table-november-2016/s-QSZg0
About Bullfrog Gold Corp.
Bullfrog Gold is focused on the further exploration and continued development of
its flagship Bullfrog Gold Project located 120 miles NW of Las Vegas, Nevada.
The Company controls 2,200 acres where Barrick Bullfrog Inc. produced 2.3
million ounces of gold during the period 1989 into 1999, of which nearly 1.5
million ounces were recovered from lands controlled by the Company. The Company
has access to Barrick's large data base comprised of 157 miles of drilling in
1,298 holes, which today would cost more than $40 million to re-create. Based on
this data the Company has estimated that 470,000 ounces of gold mineralization
averaging 0.89 g/tonne remains around Barrick's mines, in addition to having
strong exploration potential on its surrounding lands.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein including
those with respect to the objectives, plans and strategies of the Company and
those preceded by or that include the words "believes," "expects," "given,"
"targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve various risks and
uncertainties. We use certain terms in this valuation such as "mineralization"
and "mineral inventory estimates" that are not defined in Canadian National
Instrument 43-101; or recognized under the U.S. SEC Industry Guide 7. The
Company is presently an exploration stage company. Exploration is highly
speculative in nature, involves many risks, requires substantial expenditures
and may not result in the discovery of sufficient mineral deposits that can be
mined profitably. Furthermore, the Company currently has no resources or
reserves on any of its properties. As a result, there can be no assurance that
such forward-looking statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Additional information regarding important factors that could cause
actual results to differ materially from the Company's expectations is disclosed
in the Company's documents filed from time to time with the United States
Securities & Exchange Commission.
Contact Information:
David Beling, PE
President, CEO & Director
(970) 628-1670
Source: Bullfrog Gold Corp.
Bullfrog Gold Corp. Adds New Director and
Releases an Interview With Its CEO
GRAND JUNCTION, CO -- (Marketwired) -- Sep 29, 2016 -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") is pleased to announce that Kjeld Thygesen has
joined the Company as an independent Director. Mr. Thygesen brings 46 years of
international credentials in the mining research and finance sectors and joins
Alan Lindsay, Chairman and David Beling, President and CEO as a member of
Bullfrog's Board. Mr. Lindsay and Mr. Beling have been involved with Mr.
Thygesen on many business matters for more than 24 years and very much look
forward to his able contributions on behalf of the Company.
Below is a summary of Mr. Thygesen's extensive experience, particularly in
precious metals:
Resource Development Partners Ltd, a regulated investment manager under the
Financial Conduct Authority of the UK. 2012 - present.
Musgrave Investments Ltd, a Monaco based family office. Resource Advisor. 2005 -
present.
Resource Investment Trust PLC, a closed end, London listed resource investment
company. Investment Director. 2002 - 2006.
Ivanhoe Mines Ltd, a Canadian mining company with major interests in Asia.
Independent Director on audit and governance committees. 2001 - 2011.
Lion Resource Management, a specialist manager for investments in mining and
natural resources, including the precious metal Midas Fund US, a top performer
rated by Lipper Services. 1989 - 2004.
N M Rothschild & Sons Ltd, Manager - Commodities and Natural Resources
Department. Served on the board of several Canadian resource companies. 1979 -
1989.
James Capel & Co, International mining research on precious metal companies.
1972 - 1979
African Selection Trust (Selection Trust London), Mining Research. 1970 - 1972.
University of Natal - South Africa, B. Commerce, 1968. Majors: Economics and
Accountancy.
The Company also refers readers to the link below to access a recent, 11-minute
audio interview with David Beling, CEO:
http://thestockradio.com/dave-beling-ceo-at-bullfrog-gold-corp-bfgc-3165.html
About Bullfrog Gold Corp.
The Company is focused on the further exploration and development of its
flagship Bullfrog Gold Project (Project) located 120 miles NW of Las Vegas,
Nevada. The Company controls 2,200 acres where Barrick Bullfrog Inc. (Barrick)
produced 2.3 million ounces of gold during 1989 into 1999. The Company has
access to Barrick's large data base, including 157 miles of drilling in 1,298
holes, heap leach test work and much additional data that support the Project.
In this regard, it would cost much more than $40 million to re-create this very
large data base.
Based on the Barrick information, the Company has internally estimated that
470,000 ounces of gold mineralization averaging 0.89 g/tonne remain around
Barrick's mines, and that this mineralization is amenable to open pit mining and
low cost heap leach processing. In addition, the Project has excellent, existing
infrastructure and the Company's surrounding lands have strong exploration
potential.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein including
those with respect to the objectives, plans and strategies of the Company and
those preceded by or that include the words "believes," "expects," "given,"
"targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve various risks and
uncertainties. We use certain terms in this valuation such as "mineralization"
and "mineral inventory estimates" that are not defined in Canadian National
Instrument 43-101; or recognized under the U.S. SEC Industry Guide 7. The
Company is presently an exploration stage company. Exploration is highly
speculative in nature, involves many risks, requires substantial expenditures
and may not result in the discovery of sufficient mineral deposits that can be
mined profitably. Furthermore, the Company currently has no resources or
reserves on any of its properties. As a result, there can be no assurance that
such forward-looking statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Additional information regarding important factors that could cause
actual results to differ materially from the Company's expectations is disclosed
in the Company's documents filed from time to time with the United States
Securities & Exchange Commission.
Contact Information:
David Beling
PE, President, CEO & Director
(970) 628-1670
www.bullfroggoldcorp.com
Source: Bullfrog Gold Corp.
Bullfrog Gold Corp Is Pleased to Provide
Updates and Further Attributes of the Company and Its Bullfrog Gold Project
GRAND JUNCTION, CO -- -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") iis pleased to announce that Kjeld Thygesen has
joined the Company as an independent Director. Mr. Thygesen brings 46 years of
international credentials in the mining research and finance sectors and joins
Alan Lindsay, Chairman and David Beling, President and CEO as a member of
Bullfrog’s Board. Mr. Lindsay and Mr. Beling have been involved with Mr.
Thygesen on many business matters for more than 24 years and very much look
forward to his able contributions on behalf of the Company.
Below is a summary of Mr. Thygesen’s extensive experience, particularly in
precious metals:
Resource Development Partners Ltd, a regulated investment manager under the
Financial Conduct Authority of the UK. 2012 – present.
Musgrave Investments Ltd, a Monaco based family office. Resource Advisor. 2005 –
present.
Resource Investment Trust PLC, a closed end, London listed resource investment
company. Investment Director. 2002 – 2006.
Ivanhoe Mines Ltd, a Canadian mining company with major interests in Asia.
Independent Director on audit and governance committees. 2001 – 2011.
Lion Resource Management, a specialist manager for investments in mining and
natural resources, including the precious metal Midas Fund US, a top performer
rated by Lipper Services. 1989 – 2004.
N M Rothschild & Sons Ltd, Manager - Commodities and Natural Resources
Department. Served on the board of several Canadian resource companies. 1979 –
1989.
James Capel & Co, International mining research on precious metal companies.
1972 – 1979
African Selection Trust (Selection Trust London), Mining Research. 1970 – 1972.
University of Natal - South Africa, B. Commerce, 1968. Majors: Economics and
Accountancy.
The Company also refers readers to the link below to access a recent,
11-minute audio interview with David Beling, CEO:
http://thestockradio.com/dave-beling-ceo-at-bullfrog-gold-corp-bfgc-3165.html
About Bullfrog Gold Corp.
The Company is focused on the further exploration and development of its
flagship Bullfrog Gold Project (Project) located 120 miles NW of Las Vegas,
Nevada. The Company controls 2,200 acres where Barrick Bullfrog Inc. (Barrick)
produced 2.3 million ounces of gold during 1989 into 1999. The Company has
access to Barrick’s large data base, including 157 miles of drilling in 1,298
holes, heap leach test work and much additional data that support the Project.
In this regard, it would cost much more than $40 million to re-create this very
large data base.
Based on the Barrick information, the Company has internally estimated that
470,000 ounces of gold mineralization averaging 0.89 g/tonne remain around
Barrick’s mines, and that this mineralization is amenable to open pit mining and
low cost heap leach processing. In addition, the Project has excellent, existing
infrastructure and the Company’s surrounding lands have strong exploration
potential.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein including
those with respect to the objectives, plans and strategies of the Company and
those preceded by or that include the words "believes," "expects," "given,"
"targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve various risks and
uncertainties. We use certain terms in this valuation such as “mineralization”
and “mineral inventory estimates” that are not defined in Canadian National
Instrument 43-101; or recognized under the U.S. SEC Industry Guide 7. The
Company is presently an exploration stage company. Exploration is highly
speculative in nature, involves many risks, requires substantial expenditures
and may not result in the discovery of sufficient mineral deposits that can be
mined profitably. Furthermore, the Company currently has no resources or
reserves on any of its properties. As a result, there can be no assurance that
such forward-looking statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Additional information regarding important factors that could cause
actual results to differ materially from the Company's expectations is disclosed
in the Company's documents filed from time to time with the United States
Securities & Exchange Commission.
Contact Information:
David Beling,
PE, President, CEO & Director,
(970) 628-1670
www.bullfroggoldcorp.com
Source: Bullfrog Gold Corp.
--------------------------
RECENT BFGC News:
Bullfrog Gold Corp Is Pleased to Provide
Updates and Further Attributes of the Company and Its Bullfrog Gold Project
GRAND JUNCTION, CO -- (Marketwired) -- 07/12/16 -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") is pleased to provide updates
and further attributes of the Company and its Bullfrog Gold Project located 120
miles NW of Las Vegas Nevada:
The Bullfrog Mining District ("District") hosts an enormous epithermal gold
system from which Barrick Bullfrog Inc. ("Barrick") produced 2.3 million ounces
of relatively high grade gold from open pit and underground ores during the
period 1989 into 1998.
Remaining mineralization in and around Barrick's mines was estimated by the
Company to contain 470,000 ounces of gold averaging 0.89 grams/tonne. See
press release of April 11, 2016. The Company believes this mineral inventory
supports an open pit mining and heap leaching project under current market
conditions.
The Company's lands have strong potential for expanding known mineralization as
well as discovering new zones.
A debt obligation of more than $2.8 million was recently eliminated, thereby
enhancing the Company's balance sheet and its ability to fund and advance the
Project. See press release of July 6, 2016. The Company now has less than
$500,000 of debt, which is anticipated to be paid off during the next few
months.
Project infrastructure is excellent and includes:
- A paved Nevada State highway crosses the Company's southern claims.
- Existing access roads to the Montgomery-Shoshone ("M-S") and Bullfrog pits and
much of the property only need minor maintenance to facilitate and sustain
Project plans.
- Barrick's haulage ramps from the surface to the pit bottoms remain in place,
thereby allowing expansion of the M-S and
Bullfrog pits while minimizing costs. For reference, these ramps would cost many
millions of dollars for a similar Greenfield project.
- The high voltage electrical transmission line and sub-station site installed
by Barrick is readily available for resuming production operations.
- The Company controls Barrick's current water rights and ample water can be
sourced immediately below the Bullfrog pit and several wells in the area.
- Infrastructure in the Town of Beatty adequately supported Barrick's project
and will also serve the Company's proposed activities and operations. Beatty is
less than 4 miles from the Project, has a population of 1,000 people and serves
a large area with amenities, food, lodging and services.
- The Company obtained or has access to all of Barrick extensive project data
base, including 157 miles of exploration and development drilling throughout the
District. This amount of drilling would currently cost more than $40 million.
- The Company is not aware of any environmental, permitting, legal, taxation,
socio-economic, marketing or other circumstances that may materially affect
Project development and operations.
- Mining the Bullfrog and M-S pits could be sequenced to backfill nearly all
waste in the Bullfrog pit, thereby significantly reducing waste haulage costs
and avoiding additional large waste dumps having associated environmental
impacts.
- The Bullfrog area near Beatty in Nye County, Nevada provides an excellent
venue for resumption of mining.
- As Barrick's mining pit walls are stable up to 53 degrees, the ultimate amount
of waste that must be removed will be significantly less than pits that require
flatter slopes.
- Column leach tests performed by Barrick and others yielded gold recoveries of
75+% on samples crushed to -3/8 inch in 41 days and 54% in 90 days for samples
sized at -12 inches, which simulates a coarse run-of-mine size.
- The mineral and waste rock originally had less than 2% sulfides, which have
since been thoroughly oxidized. Thus, the Project has no acid generation
potential and requires very low amounts of lime for protective alkalinity during
the leaching process.
- The Company currently has 97.4 million shares outstanding and a market
capitalization of $9.1. There are 4.5 million options exercisable at $0.025 and
4.0 million warrants exercisable at $0.35, which warrants expire on or before
February 4, 2017. As a result, fully diluted shares are 105.9 million.
- Market capitalizations per ounce as of July 8, 2016 are less than $20 for the
Company compared to $50 to $140 for several other companies that have similar
heap leaching projects.
In summary, the Company has the personnel, knowledge, and experience to grow and
optimize the Project for the mutual benefit of all stakeholders.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein including
those with respect to the objectives, plans and strategies of the Company and
those preceded by or that include the words "believes," "expects," "given,"
"targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve various risks and
uncertainties. We use certain terms in this valuation such as "mineralization"
and "mineral inventory estimates" that are not defined in Canadian National
Instrument 43-101; or recognized under the U.S. SEC Industry Guide 7. The
Company is presently an exploration stage company. Exploration is highly
speculative in nature, involves many risks, requires substantial expenditures
and may not result in the discovery of sufficient mineral deposits that can be
mined profitably. Furthermore, the Company currently has no resources or
reserves on any of its properties. As a result, there can be no assurance that
such forward-looking statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Additional information regarding important factors that could cause
actual results to differ materially from the Company's expectations is disclosed
in the Company's documents filed from time to time with the United States
Securities & Exchange Commission.
Contact Information:
David Beling
PE, President, CEO & Director
(970) 628-1670
Source: Bullfrog Gold Corp.
Bullfrog Gold Eliminates Major Debt
Bullfrog Gold Is Pleased to Announce That It Has Settled
All Debts and Obligations With Respect to a December 12, 2012 Facility Agreement
GRAND JUNCTION, CO -- (Marketwired) -- 07/06/16 -- Bullfrog
Gold Corp (OTCQB: BFGC)
("Bullfrog" or the "Company") is pleased to announce that it has settled all
debts and obligations with respect to a December 12, 2012 Facility Agreement
(Agreement) with RMB Australia Holdings Limited (RMB). The principal and
interest due RMB under the Agreement as of March 31, 2016 was $2,789,996.
Components of the payout were $250,000 of cash, which was raised from recent
private placements and issuance of one million shares of BFGC common stock,
subject to restrictions under SEC rule 144. With its substantially improved
balance sheet, the Company is now well-positioned to obtain funding and advance
its flagship Bullfrog Gold Project located 120 miles NW of Las Vegas, Nevada.
For reference, key results from the Company's press release of April 11, 2016
are summarized below:
Current Mineral Inventory Estimates
Tonnes Gold Gold
Pit Areas Millions G/T Ounces
M-S Shallow 1.1 1.06 38,612
M-S Deeper 0.9 0.93 26,813
Bullfrog North 13.3 0.88 375,051
BF NE Mystery Hill 0.9 0.80 26,813
Total/Average 16.4 0.89 469,961
These estimates are supported by close-spaced drill holes upon which Barrick
Bullfrog Inc. produced 2.3 million ounces of gold from their proven and probable
ore reserves during 1989 to 1999. The Project also has strong exploration and
economic potential beyond the estimates in the pit areas.
Metallurgy
Column leach tests yielded gold recoveries of 75+% on samples crushed to -3/8
inch in 41 days and 54% in 90 days for samples sized at -12 inches, which
simulates a coarse run-of-mine size.
Additional Company and Project information may be obtained from
www.BullfrogGold.com, calling (970) 628 - 1670 or emailing info@BullfrogGold.com.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein including
those with respect to the objectives, plans and strategies of the Company and
those preceded by or that include the words "believes," "expects," "given,"
"targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve various risks and
uncertainties. The Company is presently an exploration stage company.
Exploration is highly speculative in nature, involves many risks, requires
substantial expenditures and may not result in the discovery of sufficient
mineral deposits that can be mined profitably. Furthermore, the Company
currently has no resources or reserves on any of its properties. As a result,
there can be no assurance that such forward-looking statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Additional information regarding important
factors that could cause actual results to differ materially from the Company's
expectations is disclosed in the Company's documents filed from time to time
with the United States Securities & Exchange Commission.
Contact:
David Beling, PE
President, CEO & Director
(970) 628-1670
Source: Bullfrog Gold Corp
---------------------------------------
About BFGC:
HBullfrog Gold Corp is a publicly traded mineral exploration company with gold
and silver projects in Nevada. As of March 31, 2014, the Company's capital
structure consists of approximately 45 million common and 400,000 preferred
shares issued and outstanding. An additional 4.5 million option shares and 21.4
million warrants result in 71.3 million shares fully diluted.
Bullfrog Gold Corp’s executive management and technical teams are led by David
Beling, President and CEO. David Beling has 50 years of experience with all
stages of mineral exploration, mining and processing including the engineering
and management of 12 open pit mines, 9 underground mines and 14 process plants
for junior and major mining companies. Mr. Beling has been directly involved
with developing six junior mining companies and served on the Boards of 13
mining companies starting in 1981. Ty Minnick, a CPA with 20 years experience is
VP Administration and Finance. Qualified geologists Clive Bailey, Chip Allender
and Joe Wilkins have more than 110 years of combined experience and are
contracted to explore and develop Bullfrog’s three projects and evaluate
potential acquisitions.
Bullfrog Gold Corp. has a strong asset portfolio with large prospective gold
exploration projects located in prolific mining districts within the
Southwestern USA. Mr. Allender and Mr. Wilkens both have had extensive
experience with the exploration of the Bullfrog Gold Project in the Walker Trend
of southwestern Nevada; and the Klondike Project in the Alpha Mining District in
Nevada. Mr. Allender has examined the Klondike and Bullfrog Projects and Mr.
Bailey managed the first phase drill program on the Klondike Project.
Mission Statement
Explore our Bullfrog gold project adjacent to a major mine in Nevada
Explore our Klondike silver project in Nevada
Acquire select properties
Key Values
Management & Consultants
Extensive experience in precious metals and the global resource industry
Started and managed Hycroft's gold mine and heap leach in Nevada
Explored and evaluated several hundred deposits
Discovered Barrick's Bullfrog Mine that produced 2.3 M oz gold
Acquired in 1993 the first EIS for a mine in Arizona
Bullfrog Gold Project
Large potential within the prolific Walker Trend/Bullfrog Hills
Adjacent to Barrick's Montgomery-Shoshone open pit gold mine
Klondike Silver Project
Shallow, multi-ounce silver with potential base metal and barite by-product
credits
Project covers nearly all of the historic Alpha Mining District
Solid Capital Structure
As of March 31, 2014, 45 million shares issued & outstanding and 71 million
shares fully diluted
Management Team
David Beling - President, CEO and Director
50 years of experience in the base and precious metal and energy mineral sectors
Specialized in development, financing and operation of projects and corporations
Significantly reviewed or examined 80 underground mines, 120 open pits and 160
process plants
Employed by Phelps Dodge, Union Oil, Fluor, United Technologies, Westinghouse
and six junior mining companies. Managed AZCO and Hycroft. Consulted for 20
mining companies.
Director
of 13 US and Canadian public and private mining companies since 1981
Registered Professional Mining Engineer - Arizona
Drove approval of an Environmental Impact Statement in 1993, the first for a
mine in Arizona
Alan Lindsay - Chairman of the Board
Developed strategic vision for placing key mineral assets of NPX Metals into
Bullfrog Gold Corp.
Founder or principal of AZCO Mining Inc., Uranium Energy Corp., Anatolia
Minerals, Oroperu Minerals and Strategic American Oil
Tyler Minnick - Vice President Administration & Finance
Registered member of the Colorado Society of Certified Public Accountants
20 years of experience in accounting, auditing and business advisory services
Specialized in financial reporting and budget preparation and analysis
Project Overview
The Bullfrog Mining District is located in the prolific Walker Trend and has
excellent infrastructure. This district has produced nearly 3.3 million ounces
of gold between 1989 and 1999. The Montgomery-Shoshone open pit has produced 2.3
million ounces of gold and is less than one mile from the Bullfrog Gold Corp.
land holdings. The Company's lands are directly adjacent to the
Montgomery-Shoshone open pit mine that produced 220,000 ounces of gold. This
area also produced 94,000 ounces of gold from underground mining operations in
the early 1900's. The Company has developed a comprehensive exploration program
and plans to commence drilling high priority targets after receiving approvals
from the BLM.
Although the Company's lands cover extensions of mineralized detachment faults,
the Company currently has no known resources, reserves or past production on its
Bullfrog Gold Project.
Project Overview
The Bullfrog Mining District is located in the prolific Walker Trend and has
excellent infrastructure. This district has produced nearly 3.3 million ounces
of gold between 1989 and 1999. The Montgomery-Shoshone open pit has produced 2.3
million ounces of gold and is less than one mile from the Bullfrog Gold Corp.
land holdings. The Company's lands are directly adjacent to the
Montgomery-Shoshone open pit mine that produced 220,000 ounces of gold. This
area also produced 94,000 ounces of gold from underground mining operations in
the early 1900's. The Company has developed a comprehensive exploration program
and plans to commence drilling high priority targets after receiving approvals
from the BLM.
Although the Company's lands cover extensions of mineralized detachment faults,
the Company currently has no known resources, reserves or past production on its
Bullfrog Gold Project.
SOURCE: www.bullfroggold.com
Disclaimer
FN Media Group LLC (FNMG) owns and operates
FinancialNewsMedia.com (FNM)
which is a third party publisher that disseminates electronic information
through multiple online media channels. FNMG's intended purposes are to deliver
market updates and news alerts issued from private and publicly trading
companies as well as providing coverage and increased awareness for companies
that issue press to the public via online newswires. FNMG and its affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT a registered broker/dealer/analyst/adviser, holds no investment
licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's
market updates, news alerts and corporate profiles are NOT a solicitation or
recommendation to buy, sell or hold securities. The material in this release is
intended to be strictly informational and is NEVER to be construed or
interpreted as research material. All readers are strongly urged to perform
research and due diligence on their own and consult a licensed financial
professional before considering any level of investing in stocks. The companies
that are discussed in this release may or may not have approved the statements
made in this release. Information in this release is derived from a variety of
sources that may or may not include the referenced company's publicly
disseminated information. The accuracy or completeness of the information is not
warranted and is only as reliable as the sources from which it was obtained.
While this information is believed to be reliable, such reliability cannot be
guaranteed. FNMG disclaims any and all liability as to the completeness or
accuracy of the information contained and any omissions of material fact in this
release. This release may contain technical inaccuracies or typographical
errors. It is strongly recommended that any purchase or sale decision be
discussed with a financial adviser, or a broker-dealer, or a member of any
financial regulatory bodies. Investment in the securities of the companies
discussed in this release is highly speculative and carries a high degree of
risk. FNMG is not liable for any investment decisions by its readers or
subscribers. Investors are cautioned that they may lose all or a portion of
their investment when investing in stocks. This release is not without bias, and
is considered a conflict of interest if compensation has been received by FNMG
for its dissemination. To comply with Section 17(b) of the Securities Act of
1933, FNMG shall always disclose any compensation it has received, or expects to
receive in the future, for the dissemination of the information found herein on
behalf of one or more of the companies mentioned in this release. For current
services performed FNMG has been compensated four thousand seven hundred
dollars for Bullfrog Gold Corp. news coverage by a non-affiliated third party. FNMG HOLDS NO SHARES OF Bullfrog Gold Corp.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and FNMG undertakes no obligation to update such
statements.
|