Page 84 By Kevin V incent The search by McLaren Resources for additional promising gold properties in central T immins continues and the company has also staked a cla im in an entirely unexpected territory cyber space McLaren Resources Inc recently announced the completion of a four hole 1038 metre exploration drill program on its 238hectare T imGinn Gold Property in T isdale T ownship central T immins The Property is located immediately north of the Hollinger and McIntyre Mines both owned by Goldcorp Can ada Ltd The Hollinger and McIntyre mines have produced over 30 million combined ounces of gold over their lifetime The purpose of the current drill program is to further evaluate gold zones which trend from the for mer producing Gilles Lake Mine to wards the Hollinger Mine McLaren is focused on exploration work on its three gold properties lo cated in the T immins District These properties include the Augdome Prop erty the T imGinn Property and the Blue Quartz Property The T imGinn Property which hosts the former Gilles Lake Gold Mine consists of 9 patented mining claims covering 238 hectares in T isdale T ownship The Blue Quartz Property which hosts the former Blue Quartz Mine consists of 25 patented mining claim s and 8 crown claims covering a tota l of 640 hectares in Beatty T ownship and is located 10 km north of McEwen Min ing s Black Fox Mine in East T im mins During 2018 McLaren intend s to con tinue its exploration eforts on these three attractive gold properties and will continue to review other proper ties of merit in the T immins Camp for acquisition or joint venture In the interim the company has dipped its corporate toes into the emer ging world of blockchain technology the underlying computer language that fuels cryptocurrencies like Bitcoin Company president Radovan Danilovsky announced that the com pany plans to establish a new subsid iary corporatio n to develop a block chain platform for mining industry information using a distributed ledger system for the transfer of data docu mentation and related information Mining industry data including geo logical and other forms of mining in dustry information will be exchanged by platform participants including participants who develop value on the blockchain platform The blockchain platform will allow users to access an immutable record of mining industry information securely and efciently Danilovsky stated The blockchain space is growing and has the power to change the way associated business is conducted within the mining industry W e are excited to have the opportu nity to work with Just InGenius and Block X Partners on the applic ation of this cutting edge technology W e feel that this new initiative represents an excellent opportunity for the share holders while the Company contin ues exploration work on its T immins Gold Properties during 2018 The project is in the early stage and is being developed using blockchain in dustry consultants and design services and associated value transfer systems McLaren has engaged Just InGenius and Block X Partners two blockchain development companies to begin work on the blockchain ledger sys tem McLaren envisions that some eq uity in the new subsidiary corporation could be issued to key partners In addition McLaren also announced that to accommodate additional de mand resulting from the fnancing announced on January 15 2018 McLaren is arranging up to 1 mil lion of addition al fnancing by way of the issuance of up to 8000000 com mon share units at an issue price of 0125 per unit Each unit will con sist of one 1 common share and one 1 common share purchase warrant Each warrant will be exercisable at an exercise price of 015 per share for a period of 18 months from the date of issuance McLaren shall have the right to acceler ate the exercise of the warrants if McLaren shares trade at a weighted average price exceeding 025 per share for 20 consecutive trading days The net proceeds from the fnancing will be used for general working capita l purposes with a por tion of the funds to be alloc ated to wards the new blockchain initiative McLaren says the establishment of a new subsidiary corporation does not mean a change of business for McLaren McLaren continues to con trol a 100 interest in the Augdome Gold Property a 50 interest in the Blue Quartz Gold Property and has an option to earn from 50 to a 100 interest in the T imGinn Gold Prop erty On January 2 2018 McLaren announced it had raised 310000 of fowthrough funds to add to the approximately 300000 in fow through funds it already had on hand and as such McLaren is committed to conduct ongoing exploratio n work throughout 2018 on its T immins based gold properties focused on exploration work on its thr ee gold pr operties located in T immins McLar en