GTA Resources and Mining announces $300K private placement




News Release

GTA Announces Financing and Lead Order for Big Duck Lake Program

Burlington, Ontario–(Newsfile Corp. – August 30, 2017) – GTA Resources and Mining Inc. (TSXV: GTA) announced on August 29, 2017 that it intends to begin exploration at its highly prospective Big Duck Lake Gold Property in the Hemlo Gold Camp. Previous third party work at Big Duck Lake included intercepts of up to 17.31 g/t gold over 4.9 metres (1984 drillhole BD-10), and identified 46 gold mineralized showings (1996 Work Report, Battle Mountain Canada Inc.). One of those mineralized showings is “Coco-Estelle”, which hosts a historic resource of 53,700 tonnes grading 10.7 g/t of gold.

That historic resource is not NI 43-101 compliant and cannot be relied upon. Management estimates the cost to carry out Phase 1 of GTA’s exploration program will be approximately $150,000.

To finance this work, and for working capital and general corporate purposes, GTA announces its intention to effect a financing (the “Financing”) of approximately $300,000, consisting of Common Units and Flowthrough Units. GTA has received a lead order for $50,000 (fifty thousand dollars) of Flowthrough Units from an accredited investor.

“We are eager to get in the field to test the historic data,” said Peter M. Clausi, GTA’s CEO. “Proving up the historic estimates will be a major step in creating real shareholder value.”

GTA will issue up to 4,000,000 Flowthrough Units at a price of $0.05 per Flowthrough Unit, for a total of $200,000, with each Flowthrough Unit consisting of one common share and one 12- month common share purchase warrant exercisable at 6 cents. GTA will also issue up to 2,000,000 Common Units at a price of $0.05 per Common Unit, for a total of $100,000, with each Common Unit consisting of one common share and one 18- month common share purchase warrant also exercisable at 5 cents.

A finder’s fee of up to 7% cash-and-7% broker warrants will be paid to participating registrants. Any broker warrants so issued will have the same characteristics as the underlying Units for which they were issued.

GTA will rely upon such prospectus exemptions as are available, including access to existing shareholders through the Existing Shareholder Exemption. This ensures all shareholders are treated equally and fairly.

Existing Shareholders Can Invest

The Financing is open for subscription to GTA’s existing shareholders under the “Existing Shareholder Exemption” (please see Rule 45-501 – Distributions to Existing Security Holders, and refer to other Canadian jurisdictions that have adopted similar exemptions). The Existing Shareholder Exemption is an approved form of crowdfunding in Canada.

The Financing is open to GTA’s existing shareholders residing in all Canadian jurisdictions, other than Newfoundland and Labrador. Subscriptions may be accepted from non-Canadian shareholders (except the United States of America) upon GTA being provided with evidence of a viable exemption permitting the subscription in that jurisdiction.

Only GTA Shareholders of record as at the close of TSXV trading on August 30, 2017 (the “Record Date”) are eligible to participate in the Financing under the Existing Shareholder Exemption, although other exemptions may be available to any other interested person.

Assuming the subscriber is a GTA Shareholder on the Record Date, such subscriber must be subscribing as a principal for its own account and not for any other party, and may not subscribe for more than $15,000 of securities from GTA in any 12 month period. Any subscriber who wishes to subscribe for more $15,000 in the Financing must produce to GTA a ‘suitability letter’ from a registrant.

Interested persons are encouraged to consult their own professional advisors for advice and assistance.

This Financing is subject to regulatory approval.

GTA also announces that is has as of August 30, 2017 granted an aggregate of 1,200,000 (one million two hundred thousand) options to management and directors, at a price of $0.05 cents per common share, with an expiry date of August 29, 2022.

ABOUT GTA RESOURCES – GTA is a publicly traded mineral exploration company led by an experienced and successful management team. It is focused on exploring for gold and zinc in Canada. GTA currently has three projects located in northern Ontario: the 54% owned Northshore Gold Project, near Schreiber, the 100% owned Auden Project, near Hearst and has an option to acquire a 100% interest in the Big Duck Lake Gold Project near Schreiber. GTA also owns a 100% interest in the Burnt Pond Zinc-Silver Project in central Newfoundland, along strike from Teck Resources Limited’s past-producing Duck Pond Mine. GTA has roughly 42 million shares outstanding.

On behalf of the board of directors,
GTA Resources and Mining Inc.
“Peter M. Clausi”
President and CEO
416-890-1232
pclausi@gtaresources.ca

For more information, please visit the corporate website at www.gtaresources.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 press release.