Page 76 mizing capital in the ground to create shareholder value The Pen Gold Project is located 50 ki lometres southwest of the prolifc gold district and City of T immins Ontario The property represents a land pack age of approximately 445 square kilo metres and is situated between Gold corp s Borden Gold project and T ahoe Resources W est T immins Mine The property consists of a 40kilome trelong section of Archean Green stone that contains the interpreted western extension of the Destor Por cupine Fault Zone within the same geological setting that hosts most of the gold deposits found in the T im mins Gold Camp On March 15 2018 the company completed the previously announced shares for debt transactions in satis faction of debts owing to two credi tors of the company s whollyowned subsidiary Rapier Gold Inc The company issued an aggregate of 271021 GFG common shares consisting of 150000 at a price of C03333 per share and 121021 common shares at a price of C0415 per share in the aggregate amount of C10022383 All shares issued under the shares for debt transactio ns are subject to a four month hold period that will expire on July 16 2018 The Dore Gold Project is located 40 kilometres east of Goldcorp s Borden gold project outside the community of Chapleau and 30 kilometres north west of IAMGOLD s Cote Lake gold project in Northeastern Ontario The Dore land package consisting of 56 claims over an area of approxi mately 120 square kilometres covers a 12kilometrelong section of Ar chean Greenstone within the Swayze Greenstone Belt GFG controls 100 of the Rattle snake Hills Gold Project a district scale gold exploration project located approximately 100 kilometres south west of Casper W yoming USA The geologic setting alteration and mineralization seen in the Rattlesnake Hills are simila r to other gold deposits of the Rocky Mountain alkali ne prov ince which collectively have pro duced over 50 million ounces of gold Previous exploration programs in and around the Pen Gold and Dore Gold Projects have demonstrated the pres ence of signifcant highgrade gold mineralization along the deformation corridors within andor adjacent to both properties Many of these intercepts have not seen any followup work and they remain to be interpreted in a regional context Rapier Gold s 2013 inter cept of 130 gt Au over 43 m from quartz veining within a section of intensely carbonatealtered ultramafc rocks in the talc mine area of the Pen Gold property Hemlo Gold Mines Ltd s intercept of 430 gt Au over 15 m from quartz veins within a section of silicifed and sulphidized mafc volcanic rocks within the Deerfoot Deformation Zone on the east portion the Pen Gold property It has been interpre ted that this structure is the extension of the Destor Porcupine Fault Zone The past pr oducing Joburke Gold Mine located only 300 m outside of the limits of the Pen Gold project has a historic noncompliant resource of 70000 ounces at 70 gt Au The deformation corridor hosting the Jo burke continues onto the Pen Gold property and is considered highly pro spective The Kenty pr ospect located only 500 m outside the limits of the Dore property is known for its very coarse grained gold and has grab and trench samples with values up to 124 and 242 gt Au The structure that hosts this mineraliza tion and that at the Rundle Gold Mine extends onto the Dore Gold property and is also con sidered highly prospective and Numer ous r egional gold showings with signifcant grab samples collect ed on both properties returned gold values up to 180 gt Historical highlights include Contd from pg 73 GFG Resour ces New North American focused pr ecious metals exploration company Page 74