CSE SYMBOL: SRS

Shamrock Acquires Strategic Mineral Claims in the Bulkley Valley British Columbia

 

News Release

CSE: SRS

February 15, 2018

Shamrock Enterprises Inc.  (“Shamrock” or the “Company”), is pleased to announce it has signed an option to purchase agreement (the “Agreement”) with an arm's-length third party (the “Vendor”) to acquire a 100% working interest in Stellar 1-4 mineral tenures covering 2343.58 ha. These claims are contiguous to the west, north and east of the recently reported porphyry copper style mineralization reported by ML Gold Corp., (TSX-V: MLG) from recent drilling on their Stars property.

Bob Faris, President and CEO of Shamrock, stated, “We are pleased to have been able to secure these mineral tenures in an area that appears to be an emerging porphyry copper discovery.  Based on the information made public by ML Gold Corp and other regional studies, our interpretation is that the mineralization is associated with a coincident north trending positive chargeability and magnetic signature. The proximity of the chargeability signature on the Stars property, the continuation of the positive magnetic signature and similar geology (including intrusive stock) makes these mineral tenures an attractive exploration target.”

 (Ref: http://www.empr.gov.bc.ca/Mining/Geoscience/MapPlace/MainMaps/Pages/quest_west.aspx )

Rationale for the Acquisition

ML Gold has made what appears to be a significant porphyry copper-molybdenum discovery at its Stars Property located in north central British Columbia.  Based on information disclosed by ML Gold, the discovery appears to be associated with a NNE trending chargeability signature which is open to the north and located approximately 1 kilometer south of the purchased mineral tenures. The chargeability signature is interpreted to continue to the north.  The chargeability signature on the Stars Property exhibits a good correlation to a NNE trending positive magnetic trend that has been identified on a regional scale magnetic survey.  On the Stars property, the chargeability signature, mineralization and magnetic trend exhibit a strong spatial correlation and this is interpreted to extend north onto the acquired mineral tenures.

The regional geology (including the Stars property) is a north trending package of volcanic flows and tuffs of the Lower Jurassic Telkwa Formation and sandstones, shales and siltstones of the Lower Cretaceous Skeena Group. These volcanic units have been intruded by series of quartz monzonite stocks thought to belong to the Bulkley Intrusive Suite at several locations north of the Stars Property. 

The mineral tenures are underlain by volcanics of the Telkwa Formation and sediments of the Skeena group.  These lithologies have been intruded by an intrusive stock assigned to the Bulkley Intrusive Suite within one of the acquired mineral tenures north of the Stars property.   The Bulkley Intrusive Suite is interpreted to be the host rock to the porphyry style mineralization in this part of British Columbia as documented at the Huckleberry Mine.  This intrusive shows a strong correlation to the positive magnetic signature. This trend can be traced for approximately 12 kilometers north of the ML Gold property.

Terms of the Agreement

Shamrock has acquired a 100% working interest in the Stellar 1-4 mineral tenures from the Vendor under the following terms and conditions:

  • $10,000 cash payment with five days of signing the definitive agreement, (paid)
  • $10,000 cash payment and delivery of 1.0 million shares of Shamrock on or before 45 days from the Execution Date,
  • Delivery of 1.0 million shares of Shamrock on or before 90 days from the Execution Date, and
  • A 2.0% Net Smelter Return (“NSR”) on the property. Shamrock has retained the right to purchase 1.0% of the NSR for a purchase price of $1.0 million.

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