Vancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - Queensland Gold Hills Corp. (TSXV: OZAU) ("Queensland Gold Hills Corp" or the "Company") is pleased to announce that it now holds a 95% interest in Big Hill Gold Mining Company Pty Ltd ("Big Hill").
Big Hill holds a 100% interest in an exploration permit and two mining licenses that comprise the Big Hill Gold Project located in Queensland, Australia (the "Big Hill Gold Project").
"This is another milestone for the Company as we progress through the property acquisition agreement towards 100% ownership. This is an exciting district to be exploring in and we look forward to providing further updates as we start getting boots on the ground," stated Blair Way, the CEO of the Company.
Pursuant to a Share Sale Agreement entered into by the Company and Mining Projects Accelerator Pty Ltd. CAN 629 011 196 ("MPX") on September 3, 2021, the Company acquired MPX's ownership of 80% of the outstanding common shares of Big Hill. As a shareholder of Big Hill, the Company has the right to acquire the remaining 20% of the outstanding Big Hill common shares from the minority shareholder by paying the minority shareholder AU$300,000 for 15% and AU$700,000 for the remaining 5% of the shares of Big Hill.
A National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report on the Big Hill Gold Project titled "Technical Report on the Big Hill Au Project, SE Queensland, Australia" prepared by H&S Consultants Pty Ltd. with an effective date of November 2, 2021 has been filed on SEDAR and is available on the Company's website.
About Queensland Gold Hills Corp.
Queensland Gold Hills is focused on gold exploration in the historic goldfields of Queensland, Australia. The Big Hill Gold Project covers the historic mines of Big Hill, Queenslander, Monte Cristo and Sultan & Taylor of the Talgai Goldfields. This is one of eight historical Goldfields in the broader Warwick-Texas District. The Company will be conducting modern exploration in these historic gold fields.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Blair Way, Chief Executive Officer & Director
Telephone: 1 (800) 482-7560
E-mail: info@queenslandgoldhills.com
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/107979
