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Astorius Resources Ltd. doubles Rainbow Canyon landholding in Nevada, prepares for drilling
Vancouver, BC, April 7, 2017- Astorius Resources Limited ("Astorius") (TSXV:ASQ) is pleased to report that it has staked 25 unpatented lode claims covering 203 hectares immediately adjacent to its existing 214 hectare Rainbow Canyon property in Washoe County, Nevada.
The claims cover a south-westerly strike extension of the zone hosting gold-bearing veins on the Rainbow Canyon property, as described in the company’s news release of 8 February, 2017.
Nineteen grab rock samples of the veins at surface within the newly-staked claims reported gold levels above 1g/t Au, seven of which reported levels above 5g/t Au (as documented in a NI 43-101 report published by Alba Minerals Ltd in 2011).
Astorius has been granted the permits to conduct approximately one thousand meters of reverse circulation drilling on its gold targets in the north-east half of the Rainbow Canyon property and the company expects to start that drilling in late April, 2017.
Art Brown, President of Astorius states, "this is the Company’s first step in executing its business plan and realising the potential of this property. We will continue to update our shareholders on the progress of this property as results become available."
Mr. Clinton Smyth, MSc, P. Geo., the Company's Advisor, is the Qualified Person as defined by National Instrument 43-101 who reviewed the preparation of the technical data in this news release.
Astorius Resources Ltd. (www.astoriusresources.com) is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in Nevada and Ecuador.
Alba Minerals Ltd. (www.albaminerals.com) is a company focused on lithium exploration and development in both North and South America. Alba is Non Arm’s length with Astorius. The same 3 people comprise the majority of the Directors of both companies. Both companies also have common management. Mr. Smyth, the Company’s Qualified Person is a Director of Alba.
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Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Nevada mining claims.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.