Vancouver, British Columbia--(Newsfile Corp. - January 27, 2022) - Queensland Gold Hills Corp. (TSXV: OZAU) (FSE: MB3) ("Queensland" or the "Company") is pleased to announce that it has acquired a 100% interest in the 90 square kilometre ("km2") Titan gold project (the "Titan Project"), which is contiguous to the Company's Big Hill Gold Project, located in Queensland, Australia ("Big Hill"). With this key acquisition, the Company's total land holdings in the Warwick-Texas Gold District exceeds 110km2.
About the Titan Project
The Titan Project covers 90 square kilometers with over 50 historic high-grade mines under a single Exploration Permit 27507. Like the Big Hill Gold Project, Titan has had little modern exploration conducted since the 1980's and gives the Company a wider range of targets to explore for the source of the historic gold mines.
Project Map Overview
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"This is another milestone for the Company as we quadruple our land holdings in the historic goldfields in Queensland. This latest acquisition positions the Company to be a significant holder of over 110 square kilometers in the Warwick-Texas Gold district," stated Blair Way, the CEO of the Company.
Pursuant to a Share Sale Agreement entered into by the Company and Orefox Titan Pty Ltd. ("Orefox"), the Company will acquire 100% of the outstanding common shares of Orefox from its sole shareholder, Warwick Anderson, in exchange for the issuance of 300,000 common shares of the Company, subject to the approval of the TSX Venture Exchange. The acquisition of Orefox is an arms-length transaction and the common shares to be issued will be subject to a statutory 4 month hold period.
About Queensland Gold Hills Corp.
Queensland Gold Hills is focused on conducting modern systematic exploration in the historic goldfields of Queensland, Australia. Collectively, the Big Hill Gold Project and the Titan Project cover 54 historic mines in the Talgai Goldfields of the broader Warwick-Texas District.
Qualified Person
D. Blair Way, FAusIMM, a director of the Company and a Qualified Person under the definition of National Instrument 43-101 supervised the preparation of the technical information in this news release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Blair Way, Chief Executive Officer & Director
Telephone: 1 (800) 482-7560
E-mail: info@queenslandgoldhills.com
Twitter: @QLDGoldhills
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Property or the future exploration endeavors of Queensland Gold Hills. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the risk that the Proposed Transaction, the Offering and resulting name change may not be completed as set out herein or at all, and the inability of the Company to execute and raise funds necessary to complete its planned future activities and proposed business plans.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111542
