Vancouver, B.C. - July 7, 2023 - MTB Metals Corp. (“MTB” or the “Company”) (TSX.V: MTB, OTCQB: MBYMF, Frankfurt: M9U) has retained Simone Capital Corp in the capacity of Investor Relations and Capital Markets Advisory.
Simone Capital will leverage its proprietary database to engage and coordinate roadshows with retail brokers, portfolio managers, analysts, and individual investors on the Company's behalf. Simone Capital is located in Toronto, Ontario and principally owned and operated by Anthony Simone and Matthew Benedetto. In consideration for the services, Simone Capital will be paid CAD$13,000 per quarter and granted 400,000 options. The term for this agreement is three months with an automatic extension for three additional three-month terms subject to termination on a 30 days’ notice. Other than the retainer payable under the agreements, the Company does not anticipate any costs related to the engagement of Simone Capital.
The options granted to Simone Capital are exercisable at $0.12 per share for a five year term. The options will vest as to one quarter at the end of each three month period commencing October 7, 2023.
The Company also announces the grant of stock options to directors, employees, advisors and consultants for an aggregate of 1,560,000 shares at an exercise price of $0.12 for a term of 5 years.
In addition, the Company has granted Restricted Share Units (“RSUs”) to directors, employees, advisors and consultants for an aggregate of 2,825,000 shares. The RSUs will vest after 12 months.
MTB has six active projects spanning 670 square kilometres (67,587 hectares) in the prolific Golden Triangle of northern British Columbia. With the focus on the Telegraph project, discussions are now underway leading to joint ventures and/or spinouts of other projects.
- Telegraph is located in the vicinity of 4 world-class porphyry deposits being advanced by major mining companies: Galore (Teck / Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newcrest). Field work by MTB on its 310 square kilometre property, together with earlier results, provides compelling evidence for the presence of one or more porphyrys, similar to others in the area.
- The American Creek project is centered on the historic Mountain Boy silver mine. The project is road accessible and 20 km from the deep-water port of Stewart. There are multiple silver, gold and copper occurrences on the property, including a 2006 drill hole that encountered 5 kgs of silver over 5 metres.
- Red Cliff is a past producing gold and copper mine in which the Company holds a 35% interest.
- On the BA property, 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Several targets with high-grade silver potential remain to be tested. Surprise Creek, to the north, hosts the same prospective stratigraphy.
- On the Theia project, work by MTB and previous explorers has outlined a silver bearing mineralized trend 500 metres long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton). Two other zones on the property produced copper values over 5%.
- Southmore is in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s and was overlooked until MTB consolidated the property and carried out airborne geophysics and field work which confirmed several zones of gold and copper, with values up to 20% copper and 35 g/t gold.
On behalf of the Board of Directors:
President & CEO
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This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.