07:52:35 EST Sat 19 Jan 2019
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New Carolin Gold Corp (2)
Symbol C : LAD
Shares Issued 18,704,306
Close 2018-02-12 C$ 0.45
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New Carolin completes $1.5-million financing

2018-02-13 10:32 ET - News Release

Mr. Robert Thast reports


New Carolin Gold Corp. has completed $1.5-million in equity financing and is now preparing a multistage underground exploration program at its wholly owned Ladner gold project near Hope, B.C.

The company made significant capital investments in 2016 and 2017 to upgrade the underground and to improve access at the Carolin mine zone, in preparation for its upcoming exploration/drilling program planned in 2018.

Upgrades in the fall of 2016 included scaling and timbering throughout the 800 (track level) and 900 level tunnels, rehab of escape routes, installing of insulated doors at the 800 and 900 portals, establishing a water reservoir, and installation of a supply system for water delivery to planned drill stations.

Two thousand seventeen work included roof bolting and screening of drill stations at the 800 and 900 levels, the installation of a command centre/trailer, the installation of a hardline communications system to the back of mine, the purchase and installation of a 600 KVA generator with fuel tank, the purchase and installation of one kilometre of power cable along with an associated transformer and installation of a substation at the back of the mine.

In early January, 2018, the company leased a D8 cat and a large excavator to clear snow from the highway to the Carolin mine site. This equipment will remain on site for the season for regular snow removal and road maintenance. Minor power supply related components required to be fully operational are currently being procured for start-up.

Planned exploration programs for 2018 have been formulated utilizing nearly 700 historical drill hole assays, data from the 2016 surface drill program, detailed underground and surface surveys, detailed mapping, a structural surveying from underground and on surface, surface sampling, underground channel sampling, and data obtained from 3-D geological modelling.

The exploration targets planned in the multistage exploration program will comprise step-out holes at existing mineralized gold zones, deigned to confirm and augment historical resource estimates, as well as, drilling previously untested targets from drill stations in very close proximity to known mineralized zones. New Carolin believes that the new data received from this exploration program, together with all of the historical data, will allow the company to advance the project and build a compelling geological model at the Carolin mine zone.

New Carolin looks forward to providing updates to shareholders as developments unfold.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based brownfields development company focused on the exploration, evaluation and development of its 100-per-cent-owned Ladner gold project, consisting of 144 square kilometres of contiguous mineral claims and Crown grants in the prospective and underexplored Coquihalla gold belt, located two hours by freeway from Vancouver near Hope, B.C. The company has an existing mine permit, water licences and tailings facility in place, as well as 10.5 kilometres of underground tunnels for exploration access. The Ladner gold project is host to several historical gold producers, including the Carolin mine, the Emancipation mine, the Arum mine, the Ward mine and the Pipestem mine, in addition to numerous artisanal workings and gold prospects that typically exploit high-grade, visible gold mineralization.

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