Vancouver, British Columbia--(Newsfile Corp. - December 13, 2023) - Arya Resources Ltd. (TSXV: RBZ) ("Arya" or the "Company") is pleased to announce a Flowthrough (FT) financing of up to $250,000 comprised of up to 2,000,000 FT Shares at $0.125 per share. Each FT Share will constitute a "flow-through share" within the meaning of the Income Tax Act (Canada) (the "ITA") and the proceeds will be used to incur "Canadian exploration expenses" and "flow through mining expenditures" as defined in the ITA and will be targeting critical minerals for eligibility under the Critical Mineral Exploration Tax Credit (the "CMETC"). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2023, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares. Completion of the financing and renunciation is subject to the receipt of all necessary regulatory approvals, including the TSX Venture Exchange and the Canada Revenue Agency.
The Company is currently drilling the historical Dunlop Nickel-Copper project in Saskatchewan. Historical drilling covered an area of 400 meters x 300 meters within a mineralized zone of 1800 meters long and 1700 meters wide. The drill program is to test Nickel-Copper targets identified by the company's technical team. The project is accessible via a provincial highway and powerline runs near the project site. The Company has received all the necessary permits for an exploration program including drilling on its Dunlop Nickel-Copper and Wedge Lake Gold projects in Saskatchewan.
This news release has been reviewed by Kevin Wells, P.Geo., who is acting as QP for this project under the NI 43-101 requirements.
About the Company
Arya Resources Ltd (RBZ.V) is a tier-2 listed mining and mineral exploration Company. The Company is focused on acquiring, exploring and development of "critical minerals" as well as energy-metals projects including Gold, Uranium, Lithium and Rare Earth elements in stable jurisdictions.
On behalf of the Board of Directors:
Rasool Mohammad, CEO
Email: rasool@aryaresourcesltd.com
Telephone: (604) 868-7737
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes "forward-looking statements" that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward-looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions, none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward-looking statements. Except as required by law, the Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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