August 24, 2020 - Vancouver, BC -- Further to its press release of July 21, 2020 Blind Creek Resources Ltd. (the "Company") (TSXV: BCK) has settled $222,395 in debt by the issue of 4,447,903 common shares at $0.05 All shares are subject to a 4-month hold period. The Company's choice to settle outstanding indebtedness with the issuance of common shares will preserve its funds for forward operations. The transaction has received approval from the TSX Venture Exchange.
Included in the total set out above, the Company settled accounts payable to three insiders by the issuance of 3,810,000 common shares (the "Insider Debt Settlement"). The Insider Debt Settlement is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5 (b) and 5.7 1 (a) of MI 61-101 in connection with such issuance.
About Blind Creek Resources Ltd
Blind Creek is a Vancouver-based junior resource company focused on lead-zinc-silver project acquisition, exploration and development. The Company's flagship property is the Blende Deposit in north-central Yukon. The property is 100% owned, winter-road accessible 5,345 ha and situated 63 km northeast of Keno Hill, Yukon. The property is the largest carbonate-hosted Ag-Zn-Pb deposit in Yukon and one of the largest undeveloped Ag-Zn-Pb deposits in Western Canada. The property has had more than $9.2 M in past exploration ($5.2M by Blind Creek); including 25,195 meters of drilling in 132 drill holes.
On Behalf of the Board of Directors
CONTACT INFORMATION
Blind Creek Resources Ltd Corporate Inquiries:
"Glen Macdonald" Dale Dobson: : (604) 682-2928
Mr. Glen C. Macdonald, P. Geo Email: dale.dobson@klondikesilver.com
Director
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