Vancouver, B.C. (November 26, 2021) Kingman Minerals Ltd. (“Kingman” or the “Company”) (TSX.V: KGS, FSE: 47A1, OTCQB: KGSSF) is announcing a temporary suspension of the Phase II Drilling of the Mohave Project near Kingman, Arizona, USA. To date the company has successfully drilled 1671ft in three holes of the initially projected five holes. Twenty-four holes are fully permitted for the project. The company is encouraged by the geological attributes of the drilling and believes that continuing the program is fully warranted. Kingman is currently closing an upsized financing as announced on November 4, 2021, for maximum gross proceeds of $2,100,000.
Peter Born, President and CEO states: “Careful inspection of some of the drill cores reveals occurrences of mineralisation beyond the historic Rosebud Mine footprint, both along strike and at depth. Kingman drilled the 1671 ft since late September. The Company decided to impose this temporary suspension to allow the first holes to be drilled, cores logged, and assays processed, so that the results can guide the remainder of the Phase II drilling. With only one priority in mind, our shareholders, Kingman will continue to drill once the data has been analyzed and financing has been secured to finish the Phase II Drill program efficiently with no further delays in our intent to intersect the best grade mineralisation.”
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Kingman’s Mohave Project as defined under National Instrument 43-101.
Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America. The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 72 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”). High-grade gold and silver veins were discovered in the area in the 1880’s and were mined mainly in the late 20’s and 30’s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts.
For further information please contact:
Arthur Brown, Chairman and Director
Neither the 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 news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the
assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.