QMX GOLD ADHERES TO QUEBEC GOVERNMENT GUIDANCE; SUSPENDING FIELDWORK WITH ALL OTHER EXPLORATION ACTIVITIES CONTINUING REMOTELY
TORONTO, March 24, 2020 (GLOBE NEWSWIRE) — QMX Gold Corporation (“QMX” or the “Company”) (TSX:V:QMX) reports that it has temporarily suspended fieldwork activities on its Val d’Or East projects in line with the Quebec Government’s guidance to suspend all non-essential businesses. This suspension of activities is expected to be in effect until at least April 13, 2020.
QMX’s exploration team was prepared for this potential development and will use this period to advance 3D modelling, targeting and historical data compilation activities remotely. Following the closing of QMX’s recent equity financing (see QMX’s press release dated as of March 20, 2020) QMX is in a very strong financial position. Once the work stoppage has been lifted by the Quebec government and it is safe for our staff and consultants to return to the field, QMX will be well prepared to quickly resume its drilling activities.
In late February QMX increased its drilling activities and as a result completed its planned 14,400 metres (m) winter drilling program in Bonnefond. Drill rigs had just entered a break period and QMX was preparing to initiate an additional 6,000m exploration program to the east and west of Bonnefond. The Company has infrastructure in place to allow its team to continue working safely and remotely through this busy exploration season. QMX continues to receive assay results and will complete core logging, core cutting and restart sample shipments once the work stoppage is lifted and it is safe for QMX’s team to return to the core shack.
QMX will maintain security checks at both the company’s office and project sites during this time, following strict protocols in order to minimize the risk to staff of becoming infected with the COVID-19 virus.
QMX is currently performing an inventory of all available masks, Tyvek suits, gloves, soaps, gels and other medical supplies on its sites and will provide this inventory to the local hospitals should any shortages occur.
About QMX Gold Corporation
QMX Gold Corporation is a Canadian based resource company traded on the TSX Venture Exchange under the symbol “QMX”. The Company is systematically exploring its extensive property position in the Val d’Or mining camp in the Abitibi District of Quebec. QMX is currently drilling in the Val d’Or East portion of its land package focused on the Bonnefond plug and in and around the Bevcon Intrusive. In addition to its extensive land package QMX owns the strategically located Aurbel gold mill and tailings facility.
Cautionary Note Regarding Forward-Looking Information:
This press release contains or may be deemed to contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the work stoppage mandated by the government of Quebec, future exploration plans, operations and activities, projected mineralization, timing of assay results, and the ability of the Company to continue as a going concern. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the disclosure documents of the Company filed under the Company’s profile on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither 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.
QMX Gold Corp.
65 Queen Street West, Suite 800, P.O. Box 75
Toronto, Ontario, Canada