Alianza Minerals Ltd

Published : April 29th, 2014

Estrella Appoints Jason Weber as President & CEO and Announces $500,000 Financing

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Keywords :   Copper | Gold | Market | Market Conditions | Peru | Silver |

Estrella Appoints Jason Weber as President & CEO and Announces $500,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 29, 2014) - Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce that the Board of Directors has appointed Mr. Jason Weber, P. Geo. as the new President and CEO of the Company and it has agreed to raise $500,000 by way of a private placement of 10 million units (the "Units") which is $0.05 per Unit.

New President and CEO - Mr. Jason Weber, P. Geo.

Mr. Weber comes to Estrella with over 20 years of experience in mineral exploration, project and corporate development, marketing and financing junior companies. Most recently he held the position of President and CEO of Kiska Metals Corporation, where he was responsible for the exploration and development of the company's Whistler gold-copper porphyry project in Alaska as well as advancing gold and copper projects in Kiska's exploration portfolio through option/joint venture agreements.

Mr. Weber was previously President and CEO of Rimfire Minerals Corporation, a prospect generator/joint venture company that successfully developed business partnerships ranging from exploration alliances to option joint ventures with many of the world's large gold producers, including Newmont, Barrick and AngloGold Ashanti.

Mr. Weber is also the volunteer Chair of Mining for Miracles, the BC Mining industry's charity for BC Children's Hospital. He is past Chair of Mineral Exploration Roundup, one of the world's largest annual mineral exploration conferences and was a Director of the Association for Mineral Exploration British Columbia (AMEBC).

He holds a Bachelor of Science (B.Sc.) degree in Geological Sciences from the University of British Columbia and is a registered Professional Geoscientist with the Association for Professional Engineers and Geoscientists of BC (APEGBC). He also sits on the Board of Clear Creek Resources Ltd. and Tarsis Resources Ltd.

The Board would also like to sincerely thank Mr. John R. Wilson who is retiring from Estrella as President and CEO but will continue on as a Director and technical advisor. Mr. Wilson guided the Company carefully and successfully during a very difficult financial market and managed to streamline the Company while moving key projects forward. Mr. Wilson has added significant value to the Company and leaves the Company in a much stronger position.

Financing Terms

Each $0.05 Unit consists of one common share and one common share purchase warrant which allows the holder to buy one common share per warrant held for a period of 3 years at $0.10 per share. Insiders are buying at least 20% of this offering. Estrella will issue a maximum of 10 million units at this price to avoid further dilution. Estrella has not raised any funds since October 9, 2012 and has 31.65 million common shares outstanding, 10.45% of which are held by insiders.

Project Plans

Estrella's flagship project is its namesake La Estrella Gold-Silver Project. This project hosts a drill-indicated zone of gold-silver mineralization which is approximately 1,700 meters long and 300-500 meters wide. Additionally, a second, 1,300 long by 400 meter wide, poorly tested, high priority target has been delineated northwest of the main zone of known gold-silver mineralization, and it is believed that the project has significant up-side mineral potential. Estrella has several parties reviewing the project data and plans to find a qualified partner to advance the project. A systematic review of the project data is ongoing and the Company will continue to market the project to potential partners.

Estrella also owns a 50% interest in the Yanac Joint Venture in Dpto. Ica in southern Peru with partner Cliffs Natural Resources. Cliffs is actively exploring the project and drilling is planned for later this year. Drilling will be funded as part of Cliffs' US$4 million earn-in for an additional 20% interest in the project. There are no ongoing holding costs for Estrella on this project.

Estrella holds a 1.08% NSR on the Purcarana property in the Orcopampa district of southern Peru. This property is near Buenaventura's current operating Chipmo mine and there are no holding costs for Estrella on this project.

Estrella also owns the Isy Project in Peru. Lara Exploration Ltd. ("Lara") has (at its option) final payments of $100,000 in cash and 50,000 common shares due in January, 2015 to complete its purchase of the project. There are no holding costs for Estrella for this project. Upon completion of the sale, Estrella will receive a 1.5% NSR on the project, of which Lara can buy 50% for $3 million within one year of commencement of production from the project.

The funds raised in the financing will be used for working capital and to seek partners for 4 additional wholly-owned Peruvian projects:

  • Henry Sur Project (Dpto. Ica): Copper porphyry/skarn project
  • Ayoque Project (Dpto. Ica): IOCG-type Cu project
  • Periquito Project (Dpto. Ica): IOCG-type Cu project
  • Chicha Project (Dpto. Lima): Magnetite-Copper prospect

Estrella's geological team has been active in reviewing new projects in Peru, and in other South American countries. Management will continue to do so, with the aim of adding quality exploration early-stage projects to the Company's portfolio that are available due to current market conditions.

Mr. Jason Weber, President and CEO of Estrella commented, "We are pleased that Cliffs will continue advancing the Yanac Project in 2014. The drill program exposes Estrella's shareholders to a potential discovery and provides a cornerstone for us to build around. Our goal now is not only to find partners for the remaining projects in the portfolio, but to expand that portfolio to ensure a pipeline of discovery opportunities going forward."

Post Financing Share Structure

Upon completion of the financing, Estrella's share structure will be as follows:

Common Shares 41,650,304
Options 2,945,000 Average exercise price: $0.29
Warrants 18,120,000 Average exercise price: $0.17
Compensation Warrants 565,000 Average exercise price: $0.15
Fully Diluted: 63,280,304

The Board of Directors has also approved the grant of 300,000 options at $0.08 per share under the Company's stock option plan. These options are included in the summary above.

About Estrella Gold Corporation (TSX VENTURE:EST)

Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define a new targets and then seeks joint ventures with other companies that will provide funding for more advanced exploration. Estrella has three properties optioned out or held in joint venture agreements. The Company has 31.6 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX VENTURE:EST). Mr. John Wilson, BSc, MS, is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and verified the technical information contained in this news release.

www.estrellagold.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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

Read the rest of the article at finance.yahoo.com
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Gold and Silver Prices for these countries : Peru | All

Alianza Minerals Ltd

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Alianza Minerals is a gold exploration company based in Canada.

Alianza Minerals holds various exploration projects in Peru.

Its main exploration properties are CAOLPAYOC and PUCARANA in Peru.

Alianza Minerals is listed in Canada. Its market capitalisation is CA$ 1.3 millions as of today (US$ 1.1 millions, € 932 383).

Its stock quote reached its lowest recent point on March 20, 2020 at CA$ 0.03, and its highest recent level on January 08, 2021 at CA$ 0.25.

Alianza Minerals has 33 279 998 shares outstanding.

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Financings of Alianza Minerals Ltd
10/3/2012Estrella Gold Increases Private Placement to $1.1 Million
9/19/2012Estrella Gold Announces Private Placement
9/19/2012Announces Private Placement
7/20/2011Announces Closing of $4,030,000 Private Placement Financing ...
6/20/2011Proposed Private Placement Financing
Nominations of Alianza Minerals Ltd
1/16/2013Appoints John R. Wilson President & CEO
1/16/2013Appoints John R. Wilson President & CEO
10/3/2011Estrella Gold Appoints New CFO and Sets Up New Office
Project news of Alianza Minerals Ltd
9/13/2012Estrella Gold Announces Wide Zones of Gold and Silver Minera...
9/11/2012Estrella Gold Updates Pampa Poroma IOCG Project, Southern Pe...
6/12/2012Estrella Gold Corp. Announces Drilling at La Estrella Gold-S...
5/31/2012Estrella Gold Extends Colpayoc Gold Project Terms
2/6/2012Estrella Gold Announces Drill Program at Pampa Poroma Iron-O...
1/10/2012Estrella Signs Letter of Intent for its Estrella Gold-Silver...
4/25/2011(Pucarana)Announces Drill Program at Pucarana Gold Project, Peru
3/7/2011(Caolpayoc)Program Review and 2011 Exploration Plans
2/16/2011(Caolpayoc)Announces Trench Results from Second Mineralized Zone at the...
4/22/2010(Caolpayoc)NI 43-101 Technical Report on Resources
Corporate news of Alianza Minerals Ltd
7/6/2016Alianza Minerals Completes ISY Work Program In Peru
5/2/2016Alianza Minerals Appoints New Director
4/7/2016Alianza Minerals Closes Second Tranche of Financing
12/15/2015Alianza Minerals Announces New Partner for Yanac Copper Join...
4/21/2015Tarsis and Estrella Received Court Approval; Provide Update ...
4/20/2015IIROC Trading Halt - EST
3/10/2015Tarsis and Estrella Provide an Update on Alianza Transaction...
2/11/2015Tarsis Resources Ltd. and Estrella Gold Corporation to Form ...
12/23/2014Estrella Gold Closes $150,000 Financing
11/24/2014Estrella Gold Announces $200,000 Financing
5/16/2014Callinan Royalties and Estrella Gold Corporation Complete Fi...
5/15/2014Estrella Gold Closes Private Placement for $600,000
5/13/2014Estrella Gold Increases Private Placement to $600,000
5/7/2014Estrella $500,000 Financing Fully Subscribed
4/29/2014Estrella Appoints Jason Weber as President & CEO and Announc...
6/20/2013Partner to Continue Exploration Program at Henry Sur, Peru.
5/7/2013JV Partner Mines Management Reports Positive Exploration Res...
4/19/2013Terminates Colpayoc Agreements
10/29/2012Announces Results of Regional Exploration with Cliffs
10/11/2012Closes Private Placement for $1.1 Million
10/3/2012Increases Private Placement to $1.1 Million
9/13/2012Estrella Gold Announces Wide Zones of Gold and Silver Minera...
9/13/2012Announces Wide Zones of Gold and Silver Mineralization at La...
9/11/2012s Pampa Poroma IOCG Project, Southern Peru
5/4/2012Estrella Gold to be featured by BTV on National TV on May 5t...
2/7/2012Estrella Gold Files Colpayoc NI 43-101 Technical Report and ...
1/31/2012Estrella Gold Featured on CEO Clips and Updates Programs
12/30/2011Estrella Gold Staff Changes
6/30/2011Drills Colpayoc Gold Project, Peru
6/14/2011Announces Drill Program at Colpayoc Gold Project
4/28/2011Acquires New Exploration Targets in Peru
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