Showcase Minerals Acquires Grassy and Premier East Gold Projects, Arranges Financing

Executive Summary

• Showcase Minerals entered a purchase agreement to acquire 100% of the Grassy and Premier East Gold Projects in British Columbia, issuing 5 million common shares to the vendor.
• The company announced a non‑brokered private placement of up to 3 million units at C$0.07 per unit, targeting gross proceeds of up to C$210,000 for debt repayment and working capital.
• Rene Bernard was appointed President and CEO, succeeding Kirk Reed.

Key Details

• Acquisition Structure: 100% interest in Grassy (830.3 ha) and Premier East (325.28 ha) gold projects; consideration is issuance of 5,000,000 common shares subject to a 4‑month‑1‑day hold period.
• Premier East Gold Project: Historic mineralization with historic assays up to 0.16 oz/t Au and recent 2018 geochemical program showing Au up to 5.72 g/t, Ag up to 6,110 ppm, Cu up to 11.6%, Pb up to 13.2%, Zn up to 43.7%.
• Grassy Gold Project: Historic underground work; recent drilling (3 holes) returned a best intercept of 1.56 g/t Au over 3.05 m in quartz stockwork; property carries a 2% NSR royalty.
• Private Placement Terms: Up to 3,000,000 units at C$0.07 per unit → up to C$210,000 gross proceeds. Each unit = 1 common share + 1 three‑year transferable warrant (exercise price C$0.10). Proceeds earmarked for debt repayment and general working capital.
• Insider Participation: Allowed under MI 61‑101 exemptions; securities subject to the same 4‑month‑1‑day hold period as acquisition shares.
• Regulatory Conditions: Both the property acquisitions and private placement require acceptance by the Canadian Securities Exchange for filing.
• Management Change: Rene Bernard appointed President & CEO; Kirk Reed steps down but remains a director and consultant.
• Qualified Person: Ed Kruchkowski, P.Geo., President of Decade Resources Ltd., reviewed technical content (not independent of vendor).

Notable Quotes

(No direct quotes were provided in the release.)