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or Name
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92 Resources Corp
Symbol NTY
Shares Issued 71,092,456
Close 2018-06-29 C$ 0.045
Market Cap C$ 3,199,161
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92 Resources begins Corvette exploration

2018-07-03 10:24 ET - News Release

Mr. Adrian Lamoureux reports

92 RESOURCES CORP. ANNOUNCES THE COMMENCEMENT OF EXPLORATION AT THE CORVETTE LITHIUM PROPERTY, QUEBEC

Field crews have mobilized to site with exploration now under way at 92 Resources Corp.'s Corvette property, located in the James Bay region of Quebec. The property is 100 per cent wholly owned by the company.

The exploration program, focused on lithium, will consist of two primary components: channel sampling of the CV1 and CV2 pegmatites, and prospecting of additional targets. The channel sampling will provide grade over width information and allow for a more complete understanding of the mineralized zonation and overall potential of the pegmatite bodies. The prospecting component will focus along strike of the CV1 and CV2 pegmatites, as well as regional targets identified from historic work and review of satellite imagery. The underlying objective of the groundwork is to further the understanding of the spodumene-bearing pegmatite present on the property, and to lay the foundation for a maiden drill campaign anticipated to follow. Exploration is currently being carried out by Dahrouge Geological Consulting Ltd., with head office based in Edmonton, Alta.

The Corvette property is situated within the Lac Guyer greenstone belt, considered part of the larger La Grande greenstone belt, in the James Bay region of Quebec. The property was acquired based on a historic observation of spodumene noted on one of the claims. The company followed up on the ground in the fall of 2017 and discovered two spodumene-bearing pegmatites (CV1 and CV2), trending subparallel and in close proximity, with sample assays of 3.48 per cent lithium dioxide and 1.22 per cent Li2O, respectively (see news release dated Oct. 5, 2017). The size potential, based on the outcrop exposure at surface, is also encouraging, with the CV1 pegmatite estimated to be five to 30 metres in width and 150 m in length.

The Corvette property is also considered prospective for gold, with numerous high-grade occurrences located on adjacent properties along the same geological trend. Although not the focus of exploration, the potential for gold occurrences on the property will also be assessed during the regional prospecting.

The current Corvette field program is anticipated to last for approximately one week and be immediately followed by a one-week prospecting program at the Pontax property, also located in the James Bay region of Quebec. The groundwork at Pontax will focus on the numerous pegmatite targets yet to be assessed for their spodumene potential, as well as the new gold targets generated from the recently completed heliborne high-resolution magnetic survey. The exploration at Pontax is expected to last for approximately one week.

About 92 Resources Corp.

92 Resources is a modern energy solution company, focused on acquiring and advancing strategic and prospective modern energy related projects. The company currently holds four principal assets in Canada: the Corvette and Pontax lithium properties in Quebec, the Golden frac sand property, British Columbia, and the Hidden Lake lithium property, Northwest Territories, currently under option to Far Resources Ltd.

National Instrument 43-101 disclosure

Darren L. Smith, MSc, PGeol, of Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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