CSE SYMBOL: SRS

Shamrock Enterprises Inc. Signs Letter of Intent to Acquire Topley-Richfield Polymetalic Minerlal Project

 

News Release

CSE:SRS

May, 24, 2017

 

Shamrock Enterprises Inc.  (“Shamrock” or the “Company”), a Canadian mineral exploration company, is pleased to announce it has signed a non-binding Letter Of Intent (LOI) to acquire from two private vendors, a 100% interest in the Topley-Richfield gold/copper/silver/lead/zinc project (The Project) located in the Bulkley Valley, 100 km southeast of Smithers, B.C. The Topely-Richfield Project consists of seven of contiguous mineral claims covering an area of 2,313 hectares. The Project hosts a number of old mine workings, shafts, trenches and drilling and has a reported “historic” reserves of 170,000 tonnes grading 3.5 g/t gold and 161 g/t silver (Ref B.C. AR# 17374, Esso Minerals of Canada, April 1988).

The Bulkley Valley is a prolific mining district within the Skeena Arch. Past and present mining projects within 100 km. of the Project include the Bell, Granisle, Huckleberry, Endako, Dome and Equity Silver mines. The Project is road accessible via highways and a network of logging roads. Work programs can be carried out year round.

Topley-Richfield Project Highlights:

  • Approx. 1,500 meters underground workings on two levels
  • Over 360 meters of sloughed in trenching to investigate
  • Only 12% of the project has been explored
  • Over 8,000 meters of drilling to date

Significant past drill Intercepts include:                                            

Interval

Gold g/t

Silver g/t

 

4.62 m

3.89

281

Ref B.C. AR# 35924 (Feb, 2016)

5.03 m

3.35

209

Ref B.C. AR# 08525A+B (Dec, 1980)

5.86 m

4.95

246

Ref B.C. AR# 08525A+B (Dec, 1980)

7.05 m

6.26

195

Ref B.C. AR# 08525A+B (Dec, 1980)

4.65 m

7.03

44

Ref B.C. AR# 08525A+B (Dec, 1980)

                        

The Topley Richfield project hosts the potential for:                       

  • Eskay Creek style of mineralization
  • Epithermal Gold/silver mineralization
  • Copper/Moly Porphyry mineralization        

Shamrock Enterprises has signed a non-binding Letter of Intent whereby the Company can acquire a 100% interest in the Project for total consideration of 1,00,000 shares, $200,000 in cash payments and a $200,000 work commitment over 4 years. The Project Vendors retain a 3% net smelter royalty with a buy-out of $1 million for each 1%. An advanced royalty payment of $20,000 per year begins on the 5th anniversary. Shamrock may enter into a formal option agreement upon completion of due diligence.

This news release uses the terms historical reserves. Readers are cautioned that the Company has not completed the work required to independently analyze and verify the results of the historical reserves stated by previous operators. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. The Company believes these historical results provide an indication of the potential of the property and are reported because they are deemed relevant to the description of the properties. The historical drilling information contained in this press release has been verified to the extent that the sources of information stem from reliable reports, drill hole records and plan maps generated when Cobre Exploration Ltd. was developing the deposit from 1979 to 1981 and in an unpublished Drilling Report by Caracle Creek International Consulting from October 2009. Actual assay certificates and individual assay intervals that comprise composite assay information are not available for verification. The contents of this news release have been reviewed and approved by Plen Dickson, P.Eng., a Qualified Person as defined in National Policy 43-101.

About Shamrock: Shamrock Enterprises Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of silver and other precious metal properties in North America. The Company’s common shares are listed and posted for trading on the Canadian Securities Exchange ("CSE") under the symbol "SRS".

On behalf of the Board,

“Bob Faris”

CEO

For further information, please contact:

Shamrock Enterprises Inc.

Bob Faris, Chief Executive Officer

Phone: (604) 880-2121

Neither the Canadian Securities Exchange nor its Regulation Services Provider

accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.  Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.