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Renforth Receives $262,500 Grant from the Province of Quebec

10.07.2024  |  The Newswire
Pickering, July 10, 2024 - Renforth Resources Inc. (CSE - RFR) (OTCQB- RFHRF) (FSE-9RR) ("Renforth" or the "Company") would like to advise shareholders that financial assistance of up to a maximum of $262,500 has been granted by the Ministère des Ressources naturelles et des Forêts (MRNF) as part of the fourth call for projects of the Programme de soutien à l'exploration minière pour les minéraux critiques et stratégiques (MCS). This program comes from the Plan québécois pour la valorisation des MCS 2020-2025.

Renforth will contribute 50% of eligible expenses. The project aims to identify and study the metallurgical characteristics of the Victoria mineralization, an approximately 20 km long polymetallic nickel occurrence, the nearby Lalonde mineralization and other similar mineralization identified within the Malartic Metals Package property which has an area of ??approximately 300 square km and held by Renforth with exclusive rights. The purpose of the financial assistance is to design a processing flowsheet with a processing solution as part of a Materials Management Plan (MMP). The work will be part of a future 43-101 resource assessment on Victoria. There are currently no declared resources in the ~2.5 km long quadrangle where approximately 10,000 m of drilling has been concentrated.

"Renforth acknowledges the MNRF's proactive, forward-looking support to explore Victoria's production potential early in the exploration cycle. The financial assistance from the MRNF is very important in the current financial environment and such assistance is what makes possible the early stage metallurgical study which we have already started and for which we will keep shareholders informed in due course", stated Nicole Brewster, President and CEO of Renforth.

"I would also like to extend, on behalf of Renforth and its shareholders, our condolences to the family of James M Franklin PhD FRSC, P Geo on his recent passing. Dr. Franklin identified the "Outokumpu" style of mineralization present at Victoria based on his own unique exploration experience, "Mr. VMS" was using geochemical information to vector on a possible VMS source for the Victoria mineralization. The limited exploration information for Victoria pre-dating Renforth, which Jim became aware of while the Chief Scientist for the Canadian Geological Survey, had lodged in Jim's files as an unusual and unexplained mineralized occurrence which he wanted to solve. Unfortunately Renforth, and our industry in general, has lost a notable geoscientist. We will continue to build on his work."

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

C:416-818-1393

E: nicole@renforthresources.com

#Unit 1B - 955 Brock Road, Pickering ON L1W 2X9

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No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward Looking Statements

This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided, and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

Copyright (c) 2024 TheNewswire - All rights reserved.


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