Minfocus and Tsay Keh Dene First Nation Sign Agreement Related to Coral Zinc Project in BC; Minfocus Grants Options to Officers and Directors

Posted Posted by Minfocus in PGE Supply-Demand News
Dec
19

December 19, 2016 – Minfocus Exploration Corp. (TSX-V: MFX) (“Minfocus”) is pleased to announce that Dr. Gerald Harper, President and CEO of Minfocus and Chief Dennis Izony of the Tsay Keh Dene First Nation (“TKD”) have signed an agreement which establishes a framework between Minfocus and the TKD for ongoing engagement, communications and consultations regarding the Coral Zinc Project in northeastern B.C., which is within the TKD’s traditional territory. The agreement supports the existing exploration program under the current Mines Act Permit and envisions eventually establishing a further more extensive agreement as the drilling and exploration program at the Coral Zinc Project becomes more advanced.

Coral Zinc Project Update

Minfocus has now completed assessment work filings of Statements of Work for the 2016 exploration work completed at the Coral Zinc Project which, subject to approval of the assessment report, would maintain all tenures at the Coral Zinc Project in good standing until August 2024.

Minfocus completed a reconnaissance drilling and exploration program at its Coral Zinc Project in July and August 2016, which included a nine-hole drilling program totaling 514 metres and the chip sampling of a newly discovered zinc-mineralized outcrop along Hound Dog Creek, which is approximately 50 metres east-northeast of the 2015 Hound Creek Trench No. 1. The 3,600 hectares Coral Zinc property is now known to contain several zones of zinc mineralization. The recently completed 2016 program only investigated two of these areas. For more details, please see the Minfocus news releases of October 19, 2015, September 13, 2016 and the website (www.minfocus.com), which includes maps, sections and photographs.

The CORAL Zinc property has historic and recent core drilling and trenching, intersecting mineralized breccia containing values of up to 7.8% zinc and up to 3.81% lead in carbonate rocks approximately the same age as at the former Pine Point mine (a Mississippi-Valley-Type lead-zinc deposit on Great Slave Lake). Target zones include the large (600m x 300m) zinc geochemical anomaly (15-50 times background zinc levels) with outcropping zinc mineralized brecciated dolostone at its edge and the 2.6 km long Tangle Creek zone of highly anomalous historic stream sediment zinc values (1700-4000 ppm Zn), 5-10 times background.

The CORAL Zinc project is well located with access by a barge landing and an airstrip that are each a twenty-minute helicopter flight from the Hound Dog Creek prospect area. Drill equipment and supplies can be delivered by a one-hour barge trip from a landing near Hudson’s Hope, B.C. Logging road access to the project area comes within 10 km of the Hound Dog Creek prospect. A high-voltage power line is planned to pass within 25 km to deliver power for another mine nearby under advanced development. Minfocus has a current, multi-year Mines Act permit which authorizes drilling at up to a further 6 drilling sites subject to a maximum area of disturbance (this permit expires on 31 December 2017), which Minfocus may apply to extend and/or expand, as appropriate.

Grant of Options to Officers and Directors

Minfocus announces that the Board of Directors has approved the grant of a total of 1,700,000 options exercisable at a price of $0.10 per share to its officers and directors. These options are the first options granted to existing officers and directors since March 2013.

About Minfocus Exploration Corp.

Minfocus Exploration Corp. is a Canadian company currently advancing a portfolio of base metal projects including zinc, lead and nickel projects in British Columbia and a Platinum Group Element (“PGE”) rich nickel project in N.W. Ontario. Minfocus has a successful management group with a record of multiple discoveries of deposits worldwide, including gold and uranium deposits in Mongolia and PGE-rich resources in Ontario, and is credited with the discovery of the first Platinum-rich Pt-Pd-Cu-Ni deposit in the Midcontinent Rift, the Current Lake deposit (+700,000 oz. Pt-Eq). Minfocus is strongly committed to safe and environmentally responsible exploration practises and to building transparent and meaningful relationships with First Nation and community stakeholders related to our projects.

For further information please contact:

Kenneth de Graaf Senior Vice President

Phone: (416) 232-0025

The Qualified Person who has reviewed and approved the technical content contained in this news release is Dr. Graham C. Wilson, Ph.D., P.Geo.(Ont.).

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release includes certain forward-looking statements concerning the future performance of the Company’s business and operations as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are often identifiable by the use of words such as “may”, “will”, “might”, “would”, “plan”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “scheduled”, “forecasts” and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are based on the current opinions and expectations of management, and are subject to a number of risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those currently anticipated by such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the Company’s expectations, fluctuating commodity prices, delays in commencing the Company’s proposed drilling program, exploration costs varying significantly from estimates, the availability of financing, and other risks identified in the Company’s documents filed with the Canadian securities regulatory authorities at www.sedar.com. Any forward-looking statement speaks only of the date on which it is made, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.