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BWR Exploration (TSXV:BWR) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $300,000 from the placement of up to 6 million units priced at $0.05 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.075 for 36 months.

Additional Information:

Company: BWR Exploration
Website: http://www.BWRexploration.com
Stock Symbol: TSXV: BWR
Date Published: Aug 10, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

BWR Exploration, a Canadian exploration and development company, has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $300,000 from the placement of up to 6 million units priced at $0.05 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.075 for 36 months.

The shares are currently trading at $0.05.

The proceeds will be used for general corporate purposes including advancing the exploration programs on the company’s projects in Canada, with a focus on the Little Stull Lake Gold project in northeastern Manitoba.

The company has a portfolio of 4 early stage exploration projects, all of which were selected due to proximity to advanced projects within regional exploration plays, in politically friendly exploration jurisdictions.

In December 2016, the company acquired a 100% interest in the Little Stull Lake Gold project which consists of 20 unpatented mineral claims, surrounded by 2 Mineral Exploration Licenses, covering approximately 38,000 hectares.

The project effectively covers the Manitoba portion of an 80 kilometer long geological structure that extends from Stull Lake in Ontario to Edmund Lake in Manitoba.

20 kilometers to the south, in a similar geologic setting, Yamana Gold is advancing its Monument Bay project through a PEA, where they have identified a mineralized structure containing 1.8 million ounces contained in 36.6 million tonnes using 0.4 and 0.7 grams per tonne gold as cut off for low grade pit optimization, and 4.0 grams per tonne gold cut off for underground optimization.

6.2 kilometers of this structure hosts 5 drill hole confirmed gold mineralized zones, which have been drill tested with 219 drill holes totalling approximate 37,000 meters, by various operators dating back to 1985.

Most of the drilling focused on the West Zone where it has been estimated that 750,000 tons grading 10.5 grams per tonne gold may exist based on a historic, non-compliant estimate.

Management believes that high potential exists to develop a gold resource “compliant” estimate at Little Stull Lake through an aggressive exploration program over the next 3 years.

For more information, please visit the company’s website at www.BWRexploration.com, contact Neil Novak, P.Geo., President & CEO, at 416-848-6866 or by email at NNovak@BWRexploration.com.

Investor Relations is handled by Carl Desjardins of Paradox Investor Services, who can be reached at 514-618-4477 or by email at CarlDesjardins@paradox-pr.ca.

I’m Megan Edwards for Investmentpitch Media