To view the PDF file, sign up for a MySharenet subscription.

GIYANI GOLD CORPORATION - Giyani Acquires Two Past Producing Manganese Mines

Release Date: 17/11/2016 09:14
Code(s): GIY     PDF:  
Wrap Text
Giyani Acquires Two Past Producing Manganese Mines

Giyani Gold Corporation
(Incorporated and registered in Canada)
(Registration number BC-C0887454)
Share code on the TSXV: WDG
Share code on the NSX: GGC
Share code on the JSE: GIY         ISIN: CA37636L1076
 (“Giyani Gold” or “the company” or “the group”)


Giyani Acquires Two Past Producing Manganese Mines

OAKVILLE, ONTARIO – November 17, 2016 – Giyani Gold Corp. (TSXV:WDG, GR: KT9, JSE:GIY)
(“Giyani” or the “Company”) announces that the Company has signed a Letter of Intent (“LOI”) with
Menzi Battery Metals Pty Ltd (CO2016/1660) (“Menzi”) to acquire a 70% interest in two past-roducing
high-grade manganese mines in Zambia.

The Kampumba and Chiwefwe Manganese open-pit mines operated between 1954 and 1968
producing a total combined estimate of 360,000 tonnes at grades exceeding 50% manganese. The
mines are close to infrastructure such as gravel roads, railway, power and labour. Geophysical survey
data and historical non-NI 43-101 compliant resource estimates indicate significant manganese
potential

Under the terms of the LOI, Giyani has agreed to make a US$200,000 cash payment and work
commitment of US$1 million over five years to Menzi upon completion of due diligence, title review
and completion of a definitive agreement.

Giyani has engaged Boswell Projects as the project manager for its portfolio of assets in southern
Africa. During the effective period of the LOI and subsequent agreements, Boswell Projects will
complete a due diligence review of the assets, and will assess the potential for near-term production
from these mines. Boswell Projects will also be providing Giyani with other corporate services.

This acquisition of past producing high grade manganese mines, in combination with
Giyani’s manganese projects in Botswana, will expand the Company’s portfolio of manganese assets
and continue the advancement of Giyani’s strategy to acquire raw materials for the growing battery
industry.

Additional information and corporate documents may be found on www.sedar.com
and on the Giyani website: www.giyanigold.com

Neither the 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
news release.


On behalf of the Board of Directors of Giyani Gold Corp.

Duane Parnham, Executive Chairman

Contact:
Giyani Gold Corporation
Duane Parnham
Executive Chairman
1.289.837.0066
dparnham@giyanigold.com

Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc. Forward-looking statements address future
events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.

Ontario
17 November 2016

Sponsor: Sasfin Capital (a Division of Sasfin Bank Limited)

Date: 17/11/2016 09:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story