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Sun Metals Corp. (TSXV:SUNM) New Listing

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Sun Metals has an option with Lorraine Copper to earn a 100% interest in the Stardust Project, located in north-central British Columbia, approximately 150 kilometres north of Fort St. James. in central British Columbia.

Additional Information:

Company: Sun Metals Corp.
Website: http://www.sunmetals.ca,
Stock Symbol: TSXV: SUNM
Date Published: May 8, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Sun Metals Corp. is the latest new listing on the TSX Venture Exchange, trading under the symbol “SUNM”, following its Qualifying Transaction with Capital Pool company “North Bluff Capital Corp”.

Sun Metals has an option with Lorraine Copper to earn a 100% interest in the Stardust Project, located in north-central British Columbia, approximately 150 kilometres north of Fort St. James. in central British Columbia.

The property, which consists of 20 contiguous claims totalling 9,583 hectares, hosts a polymetallic, carbonate replacement system with a rich exploration history dating back to 1944.

There are 393 exploration drill holes on the property that have revealed a 2,200 metre long corridor of
mineralization.

Four distinct mineralization styles have been identified within the system, ranging from copper-molybdenum porphyry, copper-gold skarn, zinc-lead-silver manto and silver-gold epithermal veins.

Good grades are present over a wide area as demonstrated in these drill holes:

The Canyon Creek copper-gold skarn zone has the drill hole density necessary for resource estimation,
and in January 2018, GeoSim Services Inc. provided the following estimate.

To earn its 100% ownership, Sun Metals will make 5 staged annual installments of 500,000 Sun Metals’ shares, and annual cash payments of a total of $375,000 and spend $6 million on the property by December 31, 2021.

Sun Metals is the operator during the option and must spend $1,000,000 annually until the earn-in is completed.

Upon earn-in, Sun Metals will issue top-up Sun Metal shares, up to a maximum of 51,873,599 Sun Metals shares, in order for Lorraine Copper to own a total 30% interest in Sun Metals.

The company recently raised gross proceeds of approximately $6.4 million ($6,447,100) from a private placement of 25.8 (25,788,400) units at $0.25 per unit.

Each unit consisted of 1 share and 1 warrant, with each warrant exercisable at $0.35 for 60 months.

The proceeds will be used to fund the company’s proposed phase 1 exploration program n the Stardust Project and for general working capital purposes.

The shares are trading at $0.19.

For more information, please visit the company’s website www.sunmetals.ca, contact Steve Robertson, President and CEO, at 604-697-4952 or srobertson@sunmetals.ca.


I’m Samantha Deutscher for Investmentpitch Media