Silverstone Resources Corp Announces Name Change To Firefox Gold Corp
VANCOUVER, BC – (Sept 26, 2017) – Silverstone Resources Corp. ("Silverstone" or the "Company"), an unlisted reporting issuer in British Columbia and Alberta, has changed its name to FireFox Gold Corp. ("FireFox").
Silverstone was spun out of Anacott Resources Corp. ("Anacott") as a wholly owned subsidiary in July 2017 (See Anacott news release dated July 28, 2017). Silverstone later entered into an option agreement with Magnus Minerals Ltd. (see Silverstone news release dated August 2, 2017) whereby it has the right to acquire a 100% interest (subject to a 1.5% NSR royalty) in approximately 60,000 hectares of exploration reservations in Finland.
In recognition of its focus on Finland, and in particular on the Central Lapland Greenstone Belt in the north of the country, the Company changed its name to FireFox Gold Corp. The word FireFox comes from a literal translation of the Finnish word for the Aurora Borealis – revontuli, meaning "fox's fire." Finnish legend has it that the fox runs so fast across the snow that his tail makes sparks, which rise into the heavens and are seen as the Aurora.
The Company and its CEO Mr. Carl Lofberg are based in Finland and its management offices are split between Finland and Vancouver. Most of FireFox's technical team resides in Finland while its CFO Mr. Andrew MacRitchie is based out of Vancouver. The Company's board of directors is currently comprised of: Patrick Highsmith, Carl Lofberg, and Joe Mullin.
About FireFox Gold Corp.
FireFox is a new non-listed reporting issuer in British Columbia and Alberta focused entirely on gold exploration in Finland. The Company has entered into an option agreement with Magnus Minerals Ltd., a private prospect generator company in Finland, through which it has an option to acquire 100% interest in three projects (subject to a NSR royalty) that currently encompass approximately 60,000 hectares. In order to complete the option, the Company must invest CAD $2.5 million in exploration on the properties and make cash payments to Magnus of CAD $250,000 over a three year period (See Silverstone news release dated Aug 2, 2017).
Finland is one of the top mining jurisdictions in the world as indicated by its ranking 5th in the 2016 Fraser Institute Survey of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.
On behalf of the Board of Directors
Chief Executive Officer
FireFox Gold Corp.
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include statements regarding future exploration programs, operation plans and Finnish mining prospects. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary. The forward- looking statements contained in this press release represent the expectations of FireFox as of the date of this press release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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