Golden Dawn Minerals Inc. [GOM-TSXV; GDMRF-OTC; 3G8A-FSE] provided an update on the impact of the heavy rains, flooding and mud slides recently experienced in British Columbia on the company’s core assets.
The company has a number of 100%-owned mineral properties located in the historic Greenwood mining division of south-central British Columbia, approximately 500 km east of Vancouver. The company aims to reactivate its Greenwood gold process plant for toll milling of material from surrounding mines.
To date, the heavy rains and flooding in southwestern British Columbia have had no material impact on Golden Dawn’s infrastructure and field operations. There was no significant rainfall in the area of the Greenwood mill and tailings storage facility, and the infrastructure remains in excellent condition and under 24-hour security. Similarly, no impacts were observed at the Lexington mine and the nearby May Mac mine and tailings storage. Golden Dawn continues to monitor these properties regularly. All of Golden Dawn’s other exploration properties are unaffected by the flooding.
The company also corrects the finders fees disclosed in its November 19, 2021 news release. The correct finders paid to Qwest Investment Fund Management Ltd. are a cash commission of $40,000 and issued 200,000 finders warrants. These finder warrants are valid for two years from closing with an exercise price of 20 cents subject to a hold period expiring March 13, 2022.