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File: July 31 14-RapierNR .pdf
Suite 2270 - 1055 W. Georgia Street
P.O. Box 11144, Royal Centre
Vancouver, BC V6E 3P3
Telephone: 604-569-0049
July 31, 2014 TSX-V: RPR
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Rapier Gold Inc. Announces an Extension to the Rio Tinto Agreement
Vancouver, BC � Rapier Gold Inc. (TSX-V: RPR) (the "Company") is pleased to announce that Rio Tinto has granted
Rapier Gold an extension until March 31, 2015, to complete the remaining exploration expenditure requirement of
approximately $210,000 out of a total of $1,500,000, on the Pen Gold North property, which forms part of the Pen
Gold Project.
Pen Gold Project Summary
The Company's activities are exclusively focused on exploring for gold on the Pen Gold Project, comprising
16,448 hectares (approximately 160 sq km) located 75 km southwest of Timmins, Ontario.
Located in close proximity to Pen Gold Project are three of the most interesting new gold discoveries on the
Ontario side of the Abitibi Belt;
o Additional discoveries by Lakeshore Gold at Thunder Creek, 50 km east,
o Probe Mine's Borden Lake deposit 70 km west, and
o IAMGOLD's Cote Lake deposit 70 km south, which was acquired two years ago
The Pen Gold Project sits on the western extension of the Porcupine-Destor Deformation Fault Zone (DPFZ),
one of the most productive gold structures in the world. This fault zone extends east to Chibougamau in
Quebec and hosts many of the most famous gold mines in Canada.
The Company has completed a thirteen hole drill program of 4,350 m, focused on four key areas of the
project; Westgate Area, Porphyry Hill Area, Midway Area and Talc Mine Area. Details were outlined in the
Company's press releases dated June 24, 2013 and July 25, 2013.
In the summer of 2013, the Company completed mapping and prospecting over approximately 4,100
hectares, or approximately 25% of the property which identified two new trends: The Westgate Trend
extending approximately 3.5 km east-west from the two holes drilled at Westgate, The Porphyry Hill Trend
extending 2km east of the one hole drilled at Porphyry Hill, and a new area with historical work; The Nib
Yellowknife area located 2km south of the Talc Mine Area
Results from this work were outlined in Rapier's press releases dated September 5, 2013 and October 7,
2013.
Current market conditions and financial constraints have resulted in the Company evaluating various
options to advance the next stage of work including joint ventures and or strategic alliances with other
mining companies.
---> P a g e |2
Certain work can only be carried out in summer and fall and the optimal drilling conditions occur in winter
--->.
The next five stages of work to be conducted on the project over a twelve month period and which can
occur in a different order, include;
o Airborne magnetometer survey on Pen Gold North (PGN) and integrating this with data
from Pen Gold South (PGS) - $65,000.
o Mapping and prospecting from August to October - $650,000, this will cover most of P
--->en
Gold south.
o Fall overburden stripping for drill target generation - $150,000
o Winter drilling - $250,000.
o Discretionary drilling - $250,000.
The mapping and winter drilling programs would only occur if a suitable joint venture partner is identified.
Relative Potential of the Pen Gold Project
Attached as Appendix 1 is a simplistic summary comparing; the geology of the Pen Gold Project to the geology of the
Timmins Camp, the size of Rapier's Pen Gold Project relative to the Timmins Camp and the relative size and depths
of the historical mines in the Timmins Camp.
Each of the red dots represents a deposit and historic mine similar in size and grade to what we are seeking at Pen
Gold Project and all of these mines were, or are now included in Goldcorp's Porcupine Gold Mine, located in
Timmins. The Porcupine Gold Mine consists of the Hoyle Pond and Dome mines, several large tonnage stockpiles,
and a central milling facility. In 2010, the Dome Mine marked its 100th year of continuous mine and mill operations
and has produced more than 66 million ounces of gold since production began.
ON BEHALF OF THE BOARD OF DIRECTORS
Roger Walsh, President & CEO
Contact: Roger Walsh
Phone: (604) 617-1627
Email: roger@rapiergold.com
Website: www.rapiergold.com
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 news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sal
--->e of any securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered unde
--->r the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be o
--->ffered or sold within the United
States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. S
--->ecurities Act and applicable state
securities laws or pursuant to an exemption from such registration requirements.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking s
--->tatements. In making the
forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on
--->the Company's current beliefs as
well as assumptions made by and information currently available to the Company, including that the Company is able to
--->obtain any government or other
regulatory approvals required to complete the private placement and Company's planned exploration activities, that the
---> Company is able to complete the
private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration
--->activities in sufficient quantities
and on a timely basis and that actual results of exploration activities are consistent with management's expectations.
---> Although the Company considers
these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and
---> the forward-looking statements in
this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ ma
--->terially from those expressed or
implied in such forward-looking statements. Such risk factors include, among others, that the private placement will n
--->ot be completed, that actual results
of the Company's exploration activities will be different than those expected by management and that the Company will
--->be unable to obtain or will
experience delays in obtaining any required government approvals or be unable to procure required equipment and suppli
--->es in sufficient quantities and
on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does n
--->ot intend, and expressly
disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new i
--->nformation, future events or
otherwise, except as required by law.
P a g e |3
Appendix 1. Pen Gold Project
Regional geology at Pen Gold Project
Regional geology of Timmins Camp
P a g e |4
Pen Gold Project land position overlaid on the Timmins Camp
Key mines in the Timmins Camp many now for part of Goldcorp's Porcupine Gold Mine (PGM)
P a g e |5
Relative scale of depth potential in Timmins Camp, Rapier's deepest hole is approx. 320m vertical, none of
the other holes are deeper than 200m vertical
File: July 31 14-RapierNR .docx
/
July 31, 2014 TSX-V: RPR
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Rapier Gold Inc. Announces an Extension to the Rio Tinto Agreement
Vancouver, BC - Rapier Gold Inc. (TSX-V: RPR) (the "Company") is pleased to announce that Rio Tinto has granted Rapie
--->r Gold an extension until March 31, 2015, to complete the remaining exploration expenditure requirement of approximate
--->ly $210,000 out of a total of $1,500,000, on the Pen Gold North property, which forms part of the Pen Gold Project.
Pen Gold Project Summary
The Company's activities are exclusively focused on exploring for gold on the Pen Gold Project, comprising 16,448 hect
--->ares (approximately 160 sq km) located 75 km southwest of Timmins, Ontario.
Located in close proximity to Pen Gold Project are three of the most interesting new gold discoveries on the Ontario s
--->ide of the Abitibi Belt;
Additional discoveries by Lakeshore Gold at Thunder Creek, 50 km east,
Probe Mine's Borden Lake deposit 70 km west, and
IAMGOLD's Cote Lake deposit 70 km south, which was acquired two years ago
The Pen Gold Project sits on the western extension of the Porcupine-Destor Deformation Fault Zone (DPFZ), one of the m
--->ost productive gold structures in the world. This fault zone extends east to Chibougamau in Quebec and hosts many of t
--->he most famous gold mines in Canada.
The Company has completed a thirteen hole drill program of 4,350 m, focused on four key areas of the project; Westgate
---> Area, Porphyry Hill Area, Midway Area and Talc Mine Area. Details were outlined in the Company's press releases dated
---> June 24, 2013 and July 25, 2013.
In the summer of 2013, the Company completed mapping and prospecting over approximately 4,100 hectares, or approximate
--->ly 25% of the property which identified two new trends: The Westgate Trend extending approximately 3.5 km east-west fr
--->om the two holes drilled at Westgate, The Porphyry Hill Trend extending 2km east of the one hole drilled at Porphyry H
--->ill, and a new area with historical work; The Nib Yellowknife area located 2km south of the Talc Mine Area
Results from this work were outlined in Rapier's press releases dated September 5, 2013 and October 7, 2013.
Current market conditions and financial constraints have resulted in the Company evaluating various options to advance
---> the next stage of work including joint ventures and or strategic alliances with other mining companies.
Certain work can only be carried out in summer and fall and the optimal drilling conditions occur in winter. The next
--->five stages of work to be conducted on the project over a twelve month period and which can occur in a different order
--->, include;
Airborne magnetometer survey on Pen Gold North (PGN) and integrating this with data from Pen Gold South (PGS) - $65,00
--->0.
Mapping and prospecting from August to October - $650,000, this will cover most of Pen Gold south.
Fall overburden stripping for drill target generation - $150,000
Winter drilling - $250,000.
Discretionary drilling - $250,000.
The mapping and winter drilling programs would only occur if a suitable joint venture partner is identified.
Relative Potential of the Pen Gold Project
Attached as Appendix 1 is a simplistic summary comparing; the geology of the Pen Gold Project to the geology of the T
--->immins Camp, the size of Rapier's Pen Gold Project relative to the Timmins Camp and the relative size and depths of th
--->e historical mines in the Timmins Camp.
Each of the red dots represents a deposit and historic mine similar in size and grade to what we are seeking at Pen Go
--->ld Project and all of these mines were, or are now included in Goldcorp's Porcupine Gold Mine, located in Timmins. The
---> Porcupine Gold Mine consists of the Hoyle Pond and Dome mines, several large tonnage stockpiles, and a central millin
--->g facility. In 2010, the Dome Mine marked its 100th year of continuous mine and mill operations and has produced more
--->than 66 million ounces of gold since production began.
ON BEHALF OF THE BOARD OF DIRECTORS
Roger Walsh, President & CEO
Contact: Roger Walsh
Phone: (604) 617-1627 Email: roger@rapiergold.com
Website: www.rapiergold.com
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 news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sal
--->e of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities h
--->ave not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securiti
--->es Act") or the securities laws of any state of the United States and may not be offered or sold within the United Sta
--->tes or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Secu
--->rities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking
--->statements. In making the forward-looking statements in this release, the Company has applied certain factors and ass
--->umptions that are based on the Company's current beliefs as well as assumptions made by and information currently avai
--->lable to the Company, including that the Company is able to obtain any government or other regulatory approvals requir
--->ed to complete the private placement and Company's planned exploration activities, that the Company is able to complet
--->e the private placement, that the Company is able to procure personnel, equipment and supplies required for its explor
--->ation activities in sufficient quantities and on a timely basis and that actual results of exploration activities are
--->consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on
---> information currently available to it, they may prove to be incorrect, and the forward-looking statements in this rel
--->ease are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially
---> from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that th
--->e private placement will not be completed, that actual results of the Company's exploration activities will be differe
--->nt than those expected by management and that the Company will be unable to obtain or will experience delays in obtain
--->ing any required government approvals or be unable to procure required equipment and supplies in sufficient quantities
---> and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Compan
--->y does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statem
--->ents whether as a result of new information, future events or otherwise, except as required by law.
Appendix 1. Pen Gold Project
Regional geology at Pen Gold Project
/
Regional geology of Timmins Camp
/
Pen Gold Project land position overlaid on the Timmins Camp
/
Key mines in the Timmins Camp many now for part of Goldcorp's Porcupine Gold Mine (PGM)
/
Relative scale of depth potential in Timmins Camp, Rapier's deepest hole is approx. 320m vertical, none of the other h
--->oles are deeper than 200m vertical
/
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