December 18, 2019Pure Nickel Announces Name Change to Galleon Gold Corp. and Provides Update on Amalgamation with Explor Resources
TORONTO: December 18, 2019. Pure Nickel Inc. (TSXV: NIC) (the "Company" or "Pure Nickel") is pleased to announce that it has changed its name from "Pure Nickel Inc." to "Galleon Gold Corp." pursuant to the provisions of the Canada Business Corporations Act. The name change was approved by shareholders at the Company's annual and special meeting of shareholders held on December 11, 2019 and is effective as of December 18, 2019. The Company anticipates that it will begin trading under its new name on the TSX Venture Exchange and under the new symbol "GGO" at the opening of the market on December 20, 2019.
The Company is also pleased to announce that the previously announced amalgamation with Explor Resources was also approved by shareholders at the meeting held on December 11, 2019. The Company expects the transaction to be completed in the coming days.
Galleon Gold will be focused on exploration and development of its two primary properties, the West Cache Gold Project (formerly known as Timmins Porcupine West Project) located near Timmins Ontario and the Neal Gold Project located in Idaho.
President and CEO, Mr. R. David Russell commented, "We are very pleased to be completing the merger with Explor Resources and to introduce our shareholders to Galleon Gold. We believe our two projects, located in known mining camps with excellent infrastructure will quickly build value for all stakeholders."
About Galleon Gold (formerly Pure Nickel)
Since the start of 2019, Pure Nickel has made strategic steps to expand its focus to include gold and silver exploration. Upon completion of the merger with Explor Resources Inc. the Company will have two advanced stage gold exploration projects - its partnership with Eric Sprott on the Neal Gold Project in Idaho and the West Cache Gold Project in Ontario (formerly known as Timmins Porcupine West Project). Both exploration projects are expected to continue to return positive exploration results and hold the potential to be advanced to production.
FOR FURTHER INFORMATION:
Galleon Gold (Pure Nickel Inc.)
R. David Russell
Chairman and CEO
T. (416) 644-0066
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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