Tasca Resources Enters into LOI to Acquire the Fuente De Oro Property in Nicaragua

VANCOUVER, BC / ACCESSWIRE / May 03, 2017 / Tasca Resources Ltd. (“Tasca”, “TAC” or the “Company”) (TSX Venture: TAC) (Frankfurt: 3TA) is pleased to announce that it has entered into a non-binding Letter of Intent (“LOI”) with Central American Mining Corp. (“CAMC”) to acquire 100% of Central America Mining S.A. a private Nicaraguan company (“CAM.SA”) which is the beneficial owner of the Fuente De Oro Property, located in the Municipality of Santo Domingo, Department of Chontales, Nicaragua.

Pursuant to the LOI, TAC and CAMC will have 45 days to complete their due diligence and if satisfactory, will sign a formal option agreement (the “Acquisition Agreement”) whereby TAC will acquire a 100% ownership of CAM.SA in consideration for issuing 2 million common shares and making a cash payment of US$66,000.00 to the Vendor. The Acquisition Agreement, once signed, will be subject to the Company obtaining all necessary approvals from the TSX Venture Exchange.

Fuente De Oro Property

The Fuente De Oro property encompasses 85.7 Square kilometers (21,178 acres) of mineral rights which is considered highly prospective for gold and silver. Exploration conducted by the original property owners led to the identification of a felsic intrusive center, flanked by silicification and extensive siliceous sinter (paleo-hotspring) deposits. Reconnaissance traverses over the area identified a broad zone of sub-angular to rounded surficial vein material highly anomalous in gold and silver. In total, 30 samples were taken, with values ranging from background up to 35.6 g/t gold and 224 g/t silver. These exploration results have not yet been verified by Tasca Resources Ltd.

Fuente De Oro is located on strike and is less than 10 km’s away from B2Gold Corp.’s 100% owned La Libertad open pit gold mine. The La Libertad mine produced 132,431ounces of gold with an operating cash cost of $659 per ounce in 2016. B2Gold Corp.’s Jabali Central and Jabali Antenna projects which are within 5KM of Fuente De Oro, are scheduled to go into production Q3. (http://www.b2gold.com/projects/producing/la-libertad/). La Libertad and Jabali are low-sulphidation adularia-sericite gold silver systems. The data on the La Libertad and Jabali deposits has not been independently verified by Tasca Resources Ltd. Further, the presence of mineralization on these two B2Gold Corp. properties in not necessarily indicative on mineralization on the Fuente De Oro property.

About Tasca

Tasca Resources Ltd. is a Canadian based mining company that is focused on acquiring properties through strategic joint ventures and property acquisitions. Tasca has signed a Property Option Agreement to acquire the Bleiberg zinc-lead-germanium-fluorite project, located in southern Austria, west of the city of Villach.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., an independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.tascaresources.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Clive Massey”

Clive H. Massey
President & CEO

For further information, please contact:

Tasca Investor Relations
Phone: (604) 644-6794
Email: tascaresources@gmail.com

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

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Tasca Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Tasca Resources Ltd. management on the date the statements are made. Except as required by law, Tasca Resources Ltd. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

SOURCE: Tasca Resources Ltd.

ReleaseID: 461661