Press Release, Indigo Exploration Makes Option Payment on Djimbala Gold Project in Mali
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2021) - Indigo Exploration Inc. (TSXV: IXI) (FSE: INEN) (the "Company") reports that pursuant to the its option agreement with Desert Gold Ventures Inc. ("Desert Gold") on the Djimbala Gold Project in Mali, it has issued 890,802 common shares to Desert Gold, equivalent to $75,000 at a deemed price equal to the volume weighted average share price ("VWAP") for the 10-day trading period prior to May 28, 2021. The securities are subject to a four month hold until September 29, 2021.
The Company is currently planning an air-core drill program to test multiple targets established from an auger drill program completed earlier this year and reported in a news release on March 8, 2021. As previously reported, the auger drill program results, coupled with soil samples, have defined 5 clear trends that are each 1-2 kilometres in length and 3 additional trends that are 0.5 kilometres in length within a 2 square kilometre area, coincident with artisanal workings.
Company VP Exploration and director, Tom Henricksen, is currently in Mali to oversee the air-core drill program.
On Behalf of the Board of Directors,
per: "Paul Cowley"
President and CEO
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Caution regarding forward-looking statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "plan," "intend" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the proposed Incentive Program, the receipt of approval of the Exchange and the intended use of proceeds.
Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, delays caused by the Covid-19 pandemic and the granting of exploration and mining permits; risks related to general economic and market conditions; risks related to currency fluctuations; risks related to the availability of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations.