Vancouver – January 29, 2025 – J. François Lalonde , President and CEO of Stellar AfricaGold Inc., (TSX-V: SPX)(“Stellar” or the “Company”) is pleased to announce the renewal of the Tichka Est group of permits in Morocco.
The Renewal Agreement
Stellar has concluded a renewal agreement with the Office National des Hydrocarbures et des Mines du Maroc (“ONHYM”). The agreement calls for exploration expenditures totalling US$2,239,000 (approximately C$3,500,000) over 3 years to earn an 85% interest in the permits group. Upon completion of the earn-in ONHYM will retain a 15% free carried interest and a 3 % Net Smelter Return royalty.
Commentary
Mr. Lalonde expressed gratitude to Ms Amina Benkhadra, Director General of ONHYM, and her dedicated team for their professionalism throughout the renewal process. “We are excited to resume exploration at Tichka Est and look forward to a continuing successful relationship with ONHYM” commented Stellar President and CEO, Mr. Lalonde.
About Tichka Est Gold Project Project, Morocco
The Tichka Est gold project is comprised of seven permits aggregating 82 square kilometres located in the High Atlas Mountain region of Morocco approximately 80 kilometres south-southwest of Marrakech. To date Stellar has incurred just over USD $1.1 million of agreed exploration expenditures and identified extensive gold mineralization within three structures.
The most extensive exploration has been along the B Zone structure within an approximately 1 km 2 area of the 82 km 2 total area of the Tichka Est Gold Project. Over the past years Stellar has built an 8.5-kilometer mountain access road, and conducted extensive mapping, sampling and trenching focussing on the regions in and around the B Zone. To date three significant zones of gold mineralization have been discovered with much of the overall project area still unexplored or only superficially explored.
Readers are encouraged to review details of Stellar’s historical exploration results at www.stellarafricagold.com or on Sedar.com.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian precious metal exploration company listed on the TSX Venture Exchange symbol TSX.V: SPX , the Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1 .
The Company maintains its head office in Vancouver, BC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration projects are its advancing gold discovery at the Tichka Est Gold Project in Morocco, and its early-stage exploration Zuenoula project in Côte d’Ivoire.
The technical content of this press release has been reviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
Stellar’s President and CEO J. François Lalonde can be contacted at +1 514-9940654 or by email at lalondejf@stellarafricagold.com
Additional information is available on the Company’s website at www.stellarafricagold.com .
On Behalf of the Board
J. François Lalonde
J. François Lalonde
President & CEO
This release contains certain “forward-looking information” under applicable Canadian securities laws. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Forward looking information contained in this news release includes, without limitation, statements relating to the completion of the Opawica Transaction and the exploration and development potential of the Balandougou II permit. Forward looking information are based on assumptions made by the Company. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the failure of Stellar to obtain TSX-V approval of the Opawica Transaction, the failure of Mosaic to complete the Mosaic Concurrent Financing, that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.
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 release.
